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AUD/USD

  • #93,681
  • Edited 12:32am Nov 24, 2015 12:21am | Edited 12:32am
Present wave iv is not yet over & may retrace further before resume trend - chance for adding positions.
Longs from 0.7030 and target 0.7290 still hold.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1 24Nov15.png Size: 35 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #93,682
  • Nov 24, 2015 1:10am Nov 24, 2015 1:10am
Quoting countdown
AudUsd ====> Buy Stop = 72151 / TP = 72308 / SL = 71909 if this order trigger ; open 2* lot Sell Stop = 71909 / TP = 71788 / SL = 72151 GL
2nd order triggered..
Set Buy Stop = 72151 / TP = 72397 / SL = 71909
GL
do not stand out in the open with gun ;stand in the bushes with knife..
  • #93,683
  • Nov 24, 2015 3:29am Nov 24, 2015 3:29am
waiting for a better position[0.7231,0.7242] to short, s/l 0.7253, t/p 0.7145
  • #93,684
  • Nov 24, 2015 3:55am Nov 24, 2015 3:55am
Quoting skyhok
Present wave iv is not yet over & may retrace further before resume trend - chance for adding positions. Longs from 0.7030 and target 0.7290 still hold. {image}
i belive V could turn in to a failure if we go down to IV and get some support there first. Strength of the support at IV will be decisive imo.
  • #93,685
  • Nov 24, 2015 4:10am Nov 24, 2015 4:10am
Maybe like this.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDmicroH10.png Size: 37 KB
  • #93,686
  • Nov 24, 2015 4:26am Nov 24, 2015 4:26am
Quoting alayinizAMK
Maybe like this. {image}
That could be right; while fitting into a bigger picture, I'm working on the advance from 10th Nov as a a-b-c zigzag of wave [5] of ED (c). Anything is possible.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4 24Nov15b.png Size: 53 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #93,687
  • Nov 24, 2015 6:31am Nov 24, 2015 6:31am
The pair has recovered the losses from the beginning of the week, trading above 0.7220 handle, next immediate resistance level can be found around 0.7250 zone.
  • #93,688
  • Nov 24, 2015 8:55am Nov 24, 2015 8:55am
commodity currencies on a bit of a bid here today, was a solid plan in hindsight however to go long now is a too risky gamble IMO maybe CAD, not sure AUD or NZD though I would rather stay short.
All posts are my personal opinion
  • #93,689
  • Nov 24, 2015 9:08am Nov 24, 2015 9:08am
Quoting countdown
{quote} 2nd order triggered.. Set Buy Stop = 72151 / TP = 72397 / SL = 71909 GL
Done.
do not stand out in the open with gun ;stand in the bushes with knife..
  • #93,690
  • Nov 24, 2015 9:39am Nov 24, 2015 9:39am
hi all,

it seems that the pair is finally broking upwards after the initial move up retraced around 0.7155.

right now, my inclination is towards long AUDUSD if the pair remains above the area 0.7120-30.

it might be that this break establish a longer uptrend but let's see how it unfolds (longer meaning several hundred pips).

positioning: CFTC non-commercials are at extreme with net short 66K!!!
when positioning turns extreme, reversals can happen and this may be just the beginning

as always, follow your rules, this is my opinion only. and also use stops

we'll see how the paid unfolds.

best regards all,
  • #93,691
  • Nov 24, 2015 10:48am Nov 24, 2015 10:48am
Daily candle today is important. If not turned red at the end of the day then possibly a few bull days ahead.
  • #93,692
  • Nov 24, 2015 11:33am Nov 24, 2015 11:33am
Is AUD the new safe haven. It is very strong against all currencies?
  • #93,693
  • Nov 24, 2015 1:42pm Nov 24, 2015 1:42pm
Been a pretty bullish day today for the aud. The high = the close too. I worry though, that this may come down in the next day before heading further north, if it does. Barely a retracement in 70pips of upwards. Plus commodities were scoring well today which probably pushed it up. Unless short covering kkicks in...but we'll need a catalyst and a sustained close above the upper trend line. Be cautious!
I'm going short @ 7247, targeting 7220 area at the least.
  • #93,694
  • Nov 24, 2015 1:46pm Nov 24, 2015 1:46pm
Quoting ell3
Been a pretty bullish day today for the aud. The high = the close too. I worry though, that this may come down in the next day before heading further north, if it does. Barely a retracement in 70pips of upwards. Plus commodities were scoring well today which probably pushed it up. Unless short covering kkicks in...but we'll need a catalyst and a sustained close above the upper trend line. Be cautious! I'm going short @ 7247, targeting 7220 area at the least.
s/l is ?
  • #93,695
  • Nov 24, 2015 2:02pm Nov 24, 2015 2:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H4.gif Size: 246 KB
  • #93,696
  • Nov 24, 2015 2:12pm Nov 24, 2015 2:12pm
Quoting ell3
Been a pretty bullish day today for the aud. The high = the close too. I'm going short @ 7247, targeting 7220 area at the least.
why go short if you've just indentified that the daily is bullish?
Do what's right for you
  • #93,697
  • Nov 24, 2015 2:15pm Nov 24, 2015 2:15pm
Quoting Dano12
{image}

This is all about RBA taking foot off the lower interest rate pedal.

Now watch them complain if the AUD/USD rallies ..
  • #93,698
  • Nov 24, 2015 2:45pm Nov 24, 2015 2:45pm
Quoting lasty
{quote} This is all about RBA taking foot off the lower interest rate pedal. Now watch them complain if the AUD/USD rallies ..
I'm pretty sceptical of this being the case in the longer term, and I would easily bet on a rate drop within 6 months (probably closer to the 6 months than now). Of course that's not very relevant for short-medium term trading, so I am long now.

But something to keep very much in mind.
  • #93,699
  • Nov 24, 2015 2:51pm Nov 24, 2015 2:51pm
ready to pull back some 7290 - 7300
  • #93,700
  • Nov 24, 2015 2:54pm Nov 24, 2015 2:54pm
Quoting SkyrEk
{quote} Hey, No sweat mate. Believe in yourself and your trading plan. Have one and stick to it. Price will always correct whenever it reaches major resistance. I won't throw a buy or sell call here because it's too risky if anyone here follows my call. However, just stick to what you have, and that is, a trading plan. If you are game on .738, manage your risk well, you will have better nights of sleep then. Cheers!
Path of least resistance is where traders should ride on. Don't marry to your trades, markets do not listen to us, we should abide by the market's callings instead.
Discipline is what i have, and a few set of humble trading skills. Like i have said, believe in yourself, there are no experts in this trading world.
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