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AUDUSD Trading Pit

  • #261
  • Mar 3, 2016 7:14pm Mar 3, 2016 7:14pm
i have got the 2nd sign. the 3rd sign is that sign 2 and 1 should not be broken at the same timeframe
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As Above, So Below
  • #262
  • Mar 3, 2016 7:16pm Mar 3, 2016 7:16pm
Quoting tashkent
{quote} there are many signs to look for a reversal but unfortunately i am seeing only one of them: temporary rejection of 7385. the reality is we are in a very strong uptrend and no shorts are justified unless it is a scalp for a few pips at higher high or positional trades with a few hundred pip stop loss. {image} {image}
Placing my shorts firmly in category 2!

Whilst I only trade A/U I couldn't help noticing recently the drop in E/A. Can't help thinking the drop in E/A & GBP/AUD has helped push A/U up. If this hypothesis has any validity than it's worth noting that in addition to the 738x resistance on A/U the E/A is around the low from late Dec/ early Jan on daily chart with early December daily low several hundred pips lower and a larger support. Meanwhile on G/A we are probably only a few hundred pips from launching area on weekly chart from April last year.
Hope for the best, prepare for the worst.
  • #263
  • Mar 3, 2016 7:53pm Mar 3, 2016 7:53pm
Quoting dab
{quote} Placing my shorts firmly in category 2! Whilst I only trade A/U I couldn't help noticing recently the drop in E/A. Can't help thinking the drop in E/A & GBP/AUD has helped push A/U up. If this hypothesis has any validity than it's worth noting that in addition to the 738x resistance on A/U the E/A is around the low from late Dec/ early Jan on daily chart with early December daily low several hundred pips lower and a larger support. Meanwhile on G/A we are probably only a few hundred pips from launching area on weekly chart from April last...
excellent observation, dab.
i have been watching most aud related pairs. ea and ga has some more room for further fall. aud also performing well against nzd. the fall is imminent but most important thing is timing. we may even see breakout of 7385. another thing i am watching is china. there are some worrisome situations related with china. we have been talking about stagnation but if something worse happens, china will drag down the whole global economy and among the economies most suffer is going to be australian.
As Above, So Below
  • #264
  • Mar 3, 2016 8:23pm Mar 3, 2016 8:23pm
I read in the Australian Financial Review that China wants to put a cap on the A/U at 0.74, not sure fundamentally how that works though or how they make that happen.
  • #265
  • Mar 3, 2016 11:36pm Mar 3, 2016 11:36pm
Very tight trading range.
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  • #266
  • Mar 4, 2016 3:55am Mar 4, 2016 3:55am
Quoting Blackopal
30th Nov. 2015 it hit .7385 but closed for the day .7330. 12th Oct. hit .7381 close for day .726. Judging by that history and fact it's been ranging sideways since August it will have a lot of trouble hitting and holding .738. To run up from where it has and then break through the 7 month sideways range and hold higher all in one day seems too unlikely to me. I'm short from .733. Stop loss .74 Will add my little feather to hold it down for all the nervous shorters. Have sell order placed at .7379. 20 pip SL. Gotta get some sleep. Work in five hours....




filled my short .7379
  • #267
  • Mar 4, 2016 4:28am Mar 4, 2016 4:28am
Quoting Blackopal
{quote} filled my short .7379
As allways the chart says it all its stuttering
people leave, but this thread will go on for ever
  • #268
  • Mar 4, 2016 5:20am Mar 4, 2016 5:20am
just woke up .. i got stopped for 15 pips . not a big deal . still lookig for sell but i'm gonna wait for US ecn news . don't think anything crazy happen before news release. i just hope upcoming news reverse the trend cause it's getting to wierd & risky to buy from nowone
  • #269
  • Mar 4, 2016 5:27am Mar 4, 2016 5:27am
My chart shows it just went 4 pips above high of 73.85 of Nov. 30
  • #270
  • Mar 4, 2016 6:17am Mar 4, 2016 6:17am
the high is broken.
if daily closes above 7385, break out will "officially confirmed"
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As Above, So Below
  • #271
  • Mar 4, 2016 6:19am Mar 4, 2016 6:19am
What about your shorts?
  • #272
  • Mar 4, 2016 6:23am Mar 4, 2016 6:23am
Quoting cold chisel
What about your shorts?
all triangles
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  • #273
  • Mar 4, 2016 6:50am Mar 4, 2016 6:50am
Still keeping? You are a brave man.
  • #274
  • Mar 4, 2016 7:13am Mar 4, 2016 7:13am
Quoting cold chisel
Still keeping? You are a brave man.
actually i am pretty scared looking at the daily and weekly
when started taking shorts, i was taking into consideration worst possible scenarios, which are happening. so i can hold these shorts until couple of hundred pips more but if we go higher 74, i will start getting out of lower positions. current average position is 7355
As Above, So Below
  • #275
  • Mar 4, 2016 7:36am Mar 4, 2016 7:36am
Quoting tashkent
{quote} actually i am pretty scared looking at the daily and weekly when started taking shorts, i was taking into consideration worst possible scenarios, which are happening. so i can hold these shorts until couple of hundred pips more but if we go higher 74, i will start getting out of lower positions. current average position is 7355
I'm short too. But my shorts (from 0,94) are protected at least for now.
Well the figures are good, but it seems the market doesn't care. This was the worse week for trading since the 1st of January 2016. Complete chaos.
  • #276
  • Mar 4, 2016 7:39am Mar 4, 2016 7:39am
OMG!! What The Hell Happened to AUD/USD ((

After good US news released, EUR and GBP/USD down 60 pip. But AUD hike!! And all of my 7 short orders were closed at 0.74200!! Account was fired! OMG!
  • #277
  • Mar 4, 2016 7:41am Mar 4, 2016 7:41am
Time for AUD/USD to head to Antartica
  • #278
  • Mar 4, 2016 7:45am Mar 4, 2016 7:45am
Quoting cold chisel
{quote} I'm short too. But my shorts (from 0,94) are protected at least for now. Well the figures are good, but it seems the market doesn't care. This was the worse week for trading since the 1st of January 2016. Complete chaos.
trading is like playing chess, buddy. i literally mean it.
we need to consider several moves ahead and always monitor the situation and conditions on board. what will i do if opponent starts a full range assault or gives a check? do i sacrifice some of my figures to stay in the game and meanwhile try to improve my position? do i go in full defense? or should i setup counter assault? it is the same when we have an upper hand. do i increase the attack and send to board more soldiers to decisively crush the opponent, or do i wait until opponent makes a mistake and try to counter attack despite its weakness, so i can win the game without risking too much? there are almost limitless combinations of how we can handle our forex game.
As Above, So Below
  • #279
  • Mar 4, 2016 7:49am Mar 4, 2016 7:49am
Quoting tashkent
{quote} trading is like playing chess, buddy. i literally mean it. we need to consider several moves ahead and always monitor the situation and conditions on board. what will i do if opponent starts a full range assault or gives a check? do i sacrifice some of my figures to stay in the game and meanwhile try to improve my position? do i go in full defense? or should i setup counter assault? there are almost limitless combinations of how we can handle our forex game.

EUR, NZD, OIL, Down, USD/CAD, USD/JPY up
  • #280
  • Mar 4, 2016 7:50am Mar 4, 2016 7:50am
Quoting tashkent
{quote} trading is like playing chess, buddy. i literally mean it. we need to consider several moves ahead and always monitor the situation and conditions on board. what will i do if opponent starts a full range assault or check? do i sacrifice some of my figures to stay in the game and meanwhile improve my position? do i go in full defense? or should i setup counter assault? there are almost limitless combinations of how we can handle our forex game.
Never thought about trading from this angle. To me trading is fishing (though I never fished in real live). I set the net and wait for the fish to come in, than I pick up the net, of course some fish escape, but the majority stays in - usually, not this week though.
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