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AUD/USD

  • #95,581
  • Feb 16, 2016 2:54am Feb 16, 2016 2:54am
Quoting alayinizAMK
{quote} what is your entry level?
Reversal entry at 6833
Add ins at 6982 and 6988
  • #95,582
  • Feb 16, 2016 3:14am Feb 16, 2016 3:14am
Quoting redpants
I been longing from 69 but out know , that 71.80 looks very hard to break . Also the Oil meeting as ended recently in Doha and oil going back down which will put more pressure on the Battling Aussie ''she's a fair dinkum ripper '' well done .Good luck to all! {quote}

Yeah, fair play..I'm considering taking a bit of profit out of this too as I'm a little shy of my monthly % target
  • #95,583
  • Feb 16, 2016 5:23am Feb 16, 2016 5:23am
Quoting FXClarity
I'm either a fool or a genius because I appear to be one of the only people here holding longs in this pair
no i do not think you are only one in general, but yes you are one of few who is saying long. more will show up if price really goes high.
i think we are pretty much done with longs and reaching exhaustion point but still expecting one more push to hit 721x which should lead to a quick pull back. if 721x hold at least on H4, then bear should reconsider the game plan
As Above, So Below
  • #95,584
  • Feb 16, 2016 5:27am Feb 16, 2016 5:27am
Yeah, it's looking a little toppy in the mid timeframes right now
  • #95,585
  • Feb 16, 2016 7:45am Feb 16, 2016 7:45am
Quoting attilafx
Took small short. {image}

No need to stay in.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD2.jpg Size: 267 KB
  • #95,586
  • Feb 16, 2016 7:56am Feb 16, 2016 7:56am
Closed my short at b.e because I didn't want to be in the trade :0 was in profit in other pairs aswell so should have left it :/ oh well
  • #95,587
  • Feb 16, 2016 8:00am Feb 16, 2016 8:00am
did exit my au shorts too early but got some gu and gchf at least
  • #95,588
  • Feb 16, 2016 8:33am Feb 16, 2016 8:33am
Quoting alayinizAMK
did exit my au shorts too early but got some gu and gchf at least
you never know if it was too early or late until things happen
this was a good run after exhaustion. i reversed the trade and took small long at 7089 with 10 pip sl target 30 pips to utilize the bounce
As Above, So Below
  • #95,589
  • Feb 16, 2016 10:00am Feb 16, 2016 10:00am
Quoting tashkent
{quote} you never know if it was too early or late until things happen this was a good run after exhaustion. i reversed the trade and took small long at 7089 with 10 pip sl target 30 pips to utilize the bounce
the dive @7175 suggest bear still has some grip. I wont change my bearish bias till 7025 at least. Still it should be a good bounce.
Don't blame the tools. Blame the carpenter.
  • #95,590
  • Feb 16, 2016 1:02pm Feb 16, 2016 1:02pm
Quoting FXClarity
I'm either a fool or a genius because I appear to be one of the only people here holding longs in this pair
I agree with Tashkent, you aren't only one or other. Personally I'm short but believe people can have a bias either way and make money. Obviously your 6833 is a very good entry but whether the others are closer to fool or genius depends on whether you entered them before or after the 4 Feb highs. If entered before than I would venture you should have closed at least one of them to lock in some profit when price was above 72c. If you entered after those highs on one of the dips than they are still good positions.
Hope for the best, prepare for the worst.
  • #95,591
  • Feb 16, 2016 1:19pm Feb 16, 2016 1:19pm
I'm still holding my short at 0.704 not an ideal position looking at the last week or so, but I'm happy it will come good. My target is it testing the low again 0.68 but I'll probably bail when I see profit that is satisfactory.
  • #95,592
  • Feb 16, 2016 2:32pm Feb 16, 2016 2:32pm
Its certainly in the battleground for both Sellers and Buyers right here - as discussed ; money to be made either side of the fence - no right or wrong.

Here is a chart of how I see things - (weekly timeframe). The price is sitting off the descending trendline which is why we are getting all the chop...

I'm playing this from the 'long' side, have taken an initial entry off the reversal and added two further entries (displayed on chart). Initial target for me is 7532 - a 'snap back' level but this is a war and the AU is finding it a challenge to keep above '70'.
Attached Image (click to enlarge)
Click to Enlarge Name: AUW.png Size: 55 KB
  • #95,593
  • Feb 16, 2016 2:41pm Feb 16, 2016 2:41pm
Quoting dab
{quote} I agree with Tashkent, you aren't only one or other. Personally I'm short but believe people can have a bias either way and make money. Obviously your 6833 is a very good entry but whether the others are closer to fool or genius depends on whether you entered them before or after the 4 Feb highs. If entered before than I would venture you should have closed at least one of them to lock in some profit when price was above 72c. If you entered after those highs on one of the dips than they are still good positions.
Yeah, that's pretty much my train of thought - I'll need to see some momentum real soon or I'll take my leverage elsewhere as I'm shy of my monthly target with less than two weeks to go; https://www.myfxbook.com/members/FXC...uilder/1369009.
  • #95,595
  • Feb 16, 2016 4:32pm Feb 16, 2016 4:32pm
Westpac forecast slower growth for 2016

RBA where are you ?

Glen Stevens needs to see the Big Short as right now hes acting like the CEO of Bear Stearns
  • #95,596
  • Feb 16, 2016 4:42pm Feb 16, 2016 4:42pm
Quoting FXClarity
{quote} Yeah, that's pretty much my train of thought - I'll need to see some momentum real soon or I'll take my leverage elsewhere as I'm shy of my monthly target with less than two weeks to go; https://www.myfxbook.com/members/FXC...uilder/1369009.
congrats, FXC,
pretty decent track record. dd is a little over my limits and i think your win ratio is the reason. usually i am quiet skeptical over high win ratios as they lead to heavy dd by time. keep up the excellent work.
As Above, So Below
  • #95,597
  • Feb 16, 2016 4:52pm Feb 16, 2016 4:52pm
Quoting FXClarity
{quote} Yeah, that's pretty much my train of thought - I'll need to see some momentum real soon or I'll take my leverage elsewhere as I'm shy of my monthly target with less than two weeks to go; https://www.myfxbook.com/members/FXC...uilder/1369009.
Just so long as you are focusing more on the good trading (eg the take leverage elsewhere) than the monthly targets. Good trading helps meet targets but focus on targets often leads to poor decisions.
Hope for the best, prepare for the worst.
  • #95,598
  • Feb 16, 2016 4:53pm Feb 16, 2016 4:53pm
Quoting FXClarity
{quote} Yeah, that's pretty much my train of thought - I'll need to see some momentum real soon or I'll take my leverage elsewhere as I'm shy of my monthly target with less than two weeks to go; https://www.myfxbook.com/members/FXC...uilder/1369009.
Maybe we should, i got a feeling that indetermination on this pair will stay quite a while. Could that mean many are using this as hedge currency? I would love to know.
Don't blame the tools. Blame the carpenter.
  • #95,599
  • Feb 16, 2016 5:01pm Feb 16, 2016 5:01pm
Quoting KecoaKecil
{quote} the dive @7175 suggest bear still has some grip. I wont change my bearish bias till 7025 at least. Still it should be a good bounce.
actually in short term bull has lost the control. right now we are playing bull's game. therefore i am keeping some audjpy longs from 79.28.
audusd has been really trying hard to test the 721x, the level i have been talking about since last week. today's drop without testing that level implies that it is still the target. however we have some bearish stronghold between 7140-60. if we can't pass through, it will increase the bearish pressure to down side and it will be death of possible leg to upside, the ultimate target of 721x. in long term, no question, we are still in a strong down trend and only 7400 and the retracement will decide the fate of the long term trend.
As Above, So Below
  • #95,600
  • Feb 16, 2016 7:00pm Feb 16, 2016 7:00pm
The AUDUSD with support at the 0.7100 zone. Possible resistance at the 0.7200 or support at the 0.7000 level.
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