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AUD/USD

  • #94,841
  • Jan 22, 2016 12:35am Jan 22, 2016 12:35am
shorter term 61.8 retrace at 7136 is a realistic target I think
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Come with me if you want to live....
  • #94,842
  • Jan 22, 2016 3:40am Jan 22, 2016 3:40am
Quoting Ken A
{quote} Add EAUD long - risk 25 pips
EAUD long s/o -25 pips

Still running 2 AU longs so far + 170 pips

1 EURAUD short so far + 550 pips

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Quoting redalert
I can see some buy potential (maybe 50 pips) if the 'important' EUR and/or GBP news isn't all that good today. As people have mentioned, I think we're seeing a bit of a floor until some major news comes out of China or the RBA, some good scalping to those brave enough.
EURGBP is at all time MID

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............

Quoting Ken A
{quote} EURGBP at all time MID might affect GBPUSD
  • #94,843
  • Jan 22, 2016 4:58am Jan 22, 2016 4:58am
Sold A/U at .7030, the idea being that this is the retrace of a downtrend just reaching the "common interest" level. Stop 20 pips, tp .6000 .
k
  • #94,844
  • Jan 22, 2016 5:01am Jan 22, 2016 5:01am
Quoting kprsa
Sold A/U at .7030, the idea being that this is the retrace of a downtrend just reaching the "common interest" level. Stop 20 pips, tp .6000 . k
target 1000 pips?
I hope your right
  • #94,845
  • Jan 22, 2016 5:04am Jan 22, 2016 5:04am
Quoting Ken A
{quote} Risk 20 pips for 1000 pips RRR 1:50
0.7035 high for the day so far, lets see if it holds
I hope its pulled off, I suppose it will depend on china and oil ?
  • #94,846
  • Jan 22, 2016 5:06am Jan 22, 2016 5:06am
Quoting Don96
{quote} target 1000 pips?
Yes, if it bounces down from here I will leave it running for weeks.
I made a long term projection for AU here, according to it A/U should go below 0.6.

Cheers,
k
  • #94,847
  • Jan 22, 2016 5:08am Jan 22, 2016 5:08am
Quoting kprsa
{quote} Yes, if it bounces down from here I will leave it running for weeks. I made a long term projection for AU here, according to it A/U should go below 0.6. Cheers, k
Fair play to you, and good luck
  • #94,848
  • Jan 22, 2016 5:11am Jan 22, 2016 5:11am
Quoting Ken A
{quote} Risk 20 pips for 1000 pips RRR 1:50
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  • #94,849
  • Jan 22, 2016 5:27am Jan 22, 2016 5:27am
Quoting kprsa
Sold A/U at .7030, the idea being that this is the retrace of a downtrend just reaching the "common interest" level. Stop 20 pips, tp .6000 . k
Forex Learner
  • #94,850
  • Jan 22, 2016 5:54am Jan 22, 2016 5:54am
Who's economy is stronger , what does the technicals say ..
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  • #94,851
  • Jan 22, 2016 9:11am Jan 22, 2016 9:11am
Quoting marcs4
{quote} And that XX is the last stand for me! Hope it return
Did you close the shorts?
  • #94,852
  • Jan 22, 2016 9:31am Jan 22, 2016 9:31am
I took a long on D1 yesterday at new candle. TMS signals.

any feedback?
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FXafrica " it is in giving that you receive..."
  • #94,853
  • Jan 22, 2016 9:37am Jan 22, 2016 9:37am
Quoting Ken A
{quote} Did you close the shorts?
nope, still going
  • #94,854
  • Jan 22, 2016 10:29am Jan 22, 2016 10:29am
Quoting marcs4
{quote} nope, still going
In similar situation as you. Shorted at 0.6920. Although I did expect some sort of correction and only entered partially, with an additional short added yesterday at 0.70. Now I have an average short at about 0.6956. Aiming for 0.625 as a first TP which is still reachable in the coming weeks. Fundamentally and even technically the longer term hasn't changed really.
  • #94,855
  • Jan 22, 2016 10:34am Jan 22, 2016 10:34am
Quoting coldvinc
{quote} In similar situation as you. Shorted at 0.6920. Although I did expect some sort of correction and only entered partially, with an additional short added yesterday at 0.70. Now I have an average short at about 0.6956. Aiming for 0.625 as a first TP which is still reachable in the coming weeks. Fundamentally and even technically the longer term hasn't changed really.
Do you have any stop set? I have another short at .7020 too.
  • #94,856
  • Jan 22, 2016 1:03pm Jan 22, 2016 1:03pm
This was quite the retrace this week... I wasn't expecting that. I had stops just in front of my shorts so I didn't lose anything. I do still believe this bear trend will resume at some point. Let's wait and see. Good weekend to all of you!
  • #94,857
  • Jan 22, 2016 1:22pm Jan 22, 2016 1:22pm
Quoting kprsa
Sold A/U at .7030, the idea being that this is the retrace of a downtrend just reaching the "common interest" level. Stop 20 pips, tp .6000 . k
Trade still on. Sold oil, 15 c stop, tp 4 $ (= 27 $ on my broker). Oil is wild though.
k
  • #94,858
  • Jan 22, 2016 1:29pm Jan 22, 2016 1:29pm
Quoting kprsa
{quote} Trade still on. Sold oil, 15 c stop, tp 4 $ (= 27 $ on my broker). Oil is wild though. k
Kicked out. Reentered. 20 c stop. Last reentry.
k
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  • #94,859
  • Jan 22, 2016 3:03pm Jan 22, 2016 3:03pm
Quoting coldvinc
{quote} In similar situation as you. Shorted at 0.6920. Although I did expect some sort of correction and only entered partially, with an additional short added yesterday at 0.70. Now I have an average short at about 0.6956. Aiming for 0.625 as a first TP which is still reachable in the coming weeks. Fundamentally and even technically the longer term hasn't changed really.
From a very quick look at a monthly chart I see approx 100 candles and only about 6 of those (including GFC) have a 700+ pip drop in a month. That puts your chances of your first TP of .625 being "reachable in the coming weeks" at about 6% if I'm generous.
Hope for the best, prepare for the worst.
  • #94,860
  • Jan 22, 2016 5:08pm Jan 22, 2016 5:08pm
Quoting dab
{quote} Much of what you say makes good sense and shows that you have analysed yourself and your results. If by par you mean parity than you are using R:R of over 30:1 which, in my opinion is too high, but if it works for you then I wish you all the best. You are right that it has cost you time - are you familiar with the concept of opportunity cost? I don't know whether your references to 150k in positions is indicative of your required margin or the size of the underlying asset you control, I don't know your leverage etc (I also don't need to...
A lot of good points here and I can tell you are a numbers guy much like me .

I opened my position this time with 350k (35 mini lots or 3.5 standard lots) and then added another 50k as the trade went my way. I would consider this a good size trade for the size of my account and is what I feel comfortable trading. Microsoft Excel has helped me here.

As far as time goes, the majority of the time I spend on a trade is before I actually make the trade. Creating a story that supports my trade, finding a good entry point, etc. This stuff is fun to me and I actually rather do this than watch sports or go to the beach. Once I'm in the actual trade though, the only time I really spend is mapping out the places where I want to add to my position. Other than that, the time spent is pretty minimal and I always sleep well at night.

Anyways, pretty exciting week we had with the market (Also, my wife going into labor. So much for sleeping well, right?) and I look forward to seeing what the FOMC has for us next week. Have a good weekend!
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