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Just Another A/U Thread...

  • #181
  • Feb 18, 2016 4:28pm Feb 18, 2016 4:28pm
Quoting PA is King
{quote} Glad to hear about your pips! Great job and good choice not to fight the market. I hope more people post like you have, I feel like I talk to myself too much on here sometimes. hahaha Enjoy the pips!
I agree with Blackopal, you are certainly not talking just to yourself.

Also agree with you that looks like a triple bottom on 1 hour chart but with little conviction in the bounces so will be very interested to see which way price breaks. I maintain a slight short bias with only 1 open position.
Hope for the best, prepare for the worst.
  • #182
  • Feb 18, 2016 5:29pm Feb 18, 2016 5:29pm
Quoting dab
{quote} I agree with Blackopal, you are certainly not talking just to yourself. Also agree with you that looks like a triple bottom on 1 hour chart but with little conviction in the bounces so will be very interested to see which way price breaks. I maintain a slight short bias with only 1 open position.
I agree with price having little conviction. 2 days in a row we had good USD news and last night's bad AUD news failed to trigger any real selloff. But price did stall around .7180 too. We seem to be stuck oscillating around .7150. Nothing really close to being a setup so I'll probably just call it an early weekend for trading!

Many pips to you all!
  • #183
  • Feb 18, 2016 7:49pm Feb 18, 2016 7:49pm
Guess someone didn't like the recent strength of the Aussie! haha http://www.forexfactory.com/news.php?do=news&id=579487 Might get our first bearish weekly candle in 5 weeks if Aussie closes Friday below .7100. Price is currently testing both the 1hr and 4hr uptrend lines along with the pysch level of .7100. Should be interesting to watch.
  • #184
  • Feb 18, 2016 8:19pm Feb 18, 2016 8:19pm
The Tide may finally be turning....see if we can get some closes below the uptrend lines on the 1hr and 4hr charts which should produce a Lower Low...then if we can get a Lower High I would be thinking about Selling the Rallies instead of Buying the Dips. Need to let this play out a little longer.
  • #185
  • Feb 18, 2016 8:23pm Feb 18, 2016 8:23pm
Quoting PA is King
The Tide may finally be turning....see if we can get some closes below the uptrend lines on the 1hr and 4hr charts which should produce a Lower Low...then if we can get a Lower High I would be thinking about Selling the Rallies instead of Buying the Dips. Need to let this play out a little longer.


I took a long at 71.06 on AUD/USD and 80.18 AUD/JPY. Short term plan. Will see if it can withstand the negative news
  • #186
  • Feb 18, 2016 8:57pm Feb 18, 2016 8:57pm
Quoting Blackopal
{quote} I took a long at 71.06 on AUD/USD and 80.18 AUD/JPY. Short term plan. Will see if it can withstand the negative news

Hope it works out my friend. One of the least riskiest places to enter(small stoploss in case it goes against you). I'm going to sit on the sideline basically because I can make arguments for price to go up and down...so that's never a good sign for me personally in my trading method. Cheers!
  • #187
  • Feb 18, 2016 8:58pm Feb 18, 2016 8:58pm
Quoting dab
{quote} I agree with Blackopal, you are certainly not talking just to yourself. Also agree with you that looks like a triple bottom on 1 hour chart but with little conviction in the bounces so will be very interested to see which way price breaks. I maintain a slight short bias with only 1 open position.
Looks like you made some pips with your short position mate! Enjoy those pips and good decision keeping that one open!
  • #188
  • Feb 18, 2016 11:18pm Feb 18, 2016 11:18pm
Quoting dab
{quote} I agree with Blackopal, you are certainly not talking just to yourself. Also agree with you that looks like a triple bottom on 1 hour chart but with little conviction in the bounces so will be very interested to see which way price breaks. I maintain a slight short bias with only 1 open position.
No dab I agree with you and blackopal ,PA,s definitely not talking to himself as far as I'm concerned, its all good stuff and worth spending time on and getting your head round
  • #189
  • Feb 18, 2016 11:22pm Feb 18, 2016 11:22pm
good afternoon all if you take a long on aud/usd look at gbp/aud short at the same time just bring up a chart u will see what I mean , I know its off the subject but worth looking at I do 3 to 4 trades per day on aud and double my money by selling gbp/aud at the same time I don't hold long term
people leave, but this thread will go on for ever
  • #190
  • Feb 18, 2016 11:43pm Feb 18, 2016 11:43pm
Quoting PA is King
{quote} Hope it works out my friend. One of the least riskiest places to enter(small stoploss in case it goes against you). I'm going to sit on the sideline basically because I can make arguments for price to go up and down...so that's never a good sign for me personally in my trading method. Cheers!

tp at 80.42 on half AUD/JPY, holding out for 80.59 on other. AUD/USD target 71.25. and 71.36. Lifted stops just below entry. Somebody really seems to want to keep the

Aussie up. Are they just filling their pockets for the big short?
  • #191
  • Feb 19, 2016 12:09am Feb 19, 2016 12:09am
Quoting Blackopal
{quote} tp at 80.42 on half AUD/JPY, holding out for 80.59 on other. AUD/USD target 71.25. and 71.36. Lifted stops just below entry. Somebody really seems to want to keep the Aussie up. Are they just filling their pockets for the big short?
RBA wants around.65 but has always the aud does what it wants
people leave, but this thread will go on for ever
  • #192
  • Feb 19, 2016 12:21am Feb 19, 2016 12:21am
Quoting PA is King
{quote} Looks like you made some pips with your short position mate! Enjoy those pips and good decision keeping that one open!
Thanks PA, had my limit set at 7087 so going to wait a little bit longer
Hope for the best, prepare for the worst.
  • #193
  • Feb 19, 2016 2:07am Feb 19, 2016 2:07am
581663572016.02.19 02:52:26sell1.00gbpaud2.008930.000000.000002016.02.19 03:20:052.007610.000.000.00132.00
581663582016.02.19 02:52:26balanceCommission - 58166357-5.00
581663702016.02.19 02:52:39buy1.00audusd0.712890.000000.000002016.02.19 03:20:070.713720.000.000.00116.29
581663712016.02.19 02:52:39balanceCommission - 58166370-3.00
581677192016.02.19 03:20:05balanceCommission - 58166357-5.00
581677202016.02.19 03:20:07balanceCommission - 58166370-3.00
581677262016.02.19 03:20:21balanceCommission - 58167725-5.00
581677952016.02.19 03:21:19balanceCommission - 58167794-3.00
581697542016.02.19 04:12:02sell1.00gbpaud2.015850.000002.010592016.02.19 07:28:292.014970.000.000.0088.00
581697552016.02.19 04:12:02balanceCommission - 58169754-5.00
581697562016.02.19 04:12:12buy1.00audusd0.710180.000000.712562016.02.19 07:09:280.710740.000.000.0078.79
581697572016.02.19 04:12:12balanceCommission - 58169756-3.00
581747782016.02.19 07:09:28balanceCommission - 58169756-3.00
581747812016.02.19 07:09:33buy1.00audusd0.710770.000000.000002016.02.19 07:28:330.711440.000.000.0094.18
581747822016.02.19 07:09:34balanceCommission - 58174781-3.00
581754502016.02.19 07:28:12balanceCommission - 58175449-3.00
581754582016.02.19 07:28:16sell1.00gbpaud2.014700.000000.000002016.02.19 08:20:262.013000.000.000.00170.00
581754592016.02.19 07:28:16balanceCommission - 58175458-5.00
581754622016.02.19 07:28:29balanceCommission - 58169754-5.00
581754632016.02.19 07:28:33balanceCommission - 58174781-3.00
581770062016.02.19 08:20:26balanceCommission - 58175458-5.00
581770152016.02.19 08:20:36sell1.00gbpaud2.012870.000002.011112016.02.19 09:57:592.011920.000.000.0095.00
581770162016.02.19 08:20:37balanceCommission - 58177015-5.00
581809392016.02.19 09:58:00balanceCommission - 58177015


just to backup what I am saying goooooooooooo aud and goooooooooo PA
people leave, but this thread will go on for ever
  • #194
  • Feb 19, 2016 5:13am Feb 19, 2016 5:13am
10hrs have passed and Aussie still not able to close below .7100. Still lots of support despite any bad news. Not much on the rally side either though. Let's see what the US traders do.

Good comments guys, thanks for posting! Nice post from Aussi too! By all means, cross pair trading can be very profitable if done with discipline.

Have a great weekend!
  • #195
  • Feb 19, 2016 9:00am Feb 19, 2016 9:00am
Hello Aussie, welcome back to the .7070 support area again. It's treated you well the past few weeks with lots of buyers. Shall we get a retrace back up to .7100 now?
  • #196
  • Feb 19, 2016 10:10am Feb 19, 2016 10:10am
And there you go, right back up to .7100. Easy 20-30 pips depending on where you entered. Prior major support level works again!
  • #197
  • Feb 19, 2016 10:19am Feb 19, 2016 10:19am
As Above, So Below
  • #198
  • Edited 11:33am Feb 19, 2016 10:55am | Edited 11:33am
So much for Bad AUD data and Good USD news(that's why I ignore the news by the way)...no matter what dips there are on Aussie, it just rallies right back up! .7070 area has major demand! Over 50pips straight up from the lows.

I hope no one got caught short below .7100(as a general rule, it's not wise to Sell the Lows of the day or Buy the Highs of the day).
  • #199
  • Feb 19, 2016 12:04pm Feb 19, 2016 12:04pm
Well, unless something unexpected happens in the last few hours of trading...Price Action once again dipped below .7100 only to be Bid back up. It did the same thing last week and the week before. This makes the 5th weekly bullish candle on Aussie. Until price closes on the Daily chart below .7070 area, I'm still thinking Buy the Dips! There are opportunities to short, but be careful of the buyers!
  • #200
  • Feb 19, 2016 12:36pm Feb 19, 2016 12:36pm
If you get a chance this weekend, look at the 4hr chart on Feb. 3rd, 9th, 11th, and 16th. Each Dip on the Aussie was QUICKLY rallied back up forming a Higher Low each time. Today was just like the 16th, a dip down to .7070 and Straight back up(we are now 70pips straight up off the lows of the day)! You don't need any indicators or any moving averages, just look at Price Action and how every dip rallied up!
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