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Just Another A/U Thread...

  • #381
  • Mar 8, 2016 2:10pm Mar 8, 2016 2:10pm
Quoting elsensei13
{quote} For bearish you think we need to close our shorts trades? On daily you can see double top what still is not broken.
I'm not sure I see the same thing as you...I don't see any daily double top. Unless you mean the .7383 peaks from Oct. 2015 and Feb. 2016...but those have already been broken.
  • #382
  • Mar 8, 2016 3:21pm Mar 8, 2016 3:21pm
Quoting elsensei13
{quote} For bearish you think we need to close our shorts trades? On daily you can see double top what still is not broken.
depends what timeframe you trade. I'm bearish but trade longer timeframes and have a plan in case price goes higher still.
Hope for the best, prepare for the worst.
  • #383
  • Mar 8, 2016 4:56pm Mar 8, 2016 4:56pm
Quoting dab
{quote} depends what timeframe you trade...
This is true. I'm a day trader taking most my signals off the 1hr chart while respecting a&or levels on the 4hr and daily.
  • #384
  • Mar 8, 2016 5:00pm Mar 8, 2016 5:00pm
Quoting PA is King
{quote} This is true. I'm a day trader taking most my signals off the 1hr chart while respecting a&or levels on the 4hr and daily.
Yes. Really been broken. Whats mean a&or ?
  • #385
  • Mar 8, 2016 5:27pm Mar 8, 2016 5:27pm
Quoting elsensei13
{quote} Yes. Really been broken. Whats mean a&or ?
Sorry, that was suppose to be s&r...support&resistance.
  • #386
  • Edited 8:02am Mar 9, 2016 7:15am | Edited 8:02am
Just thought I'd post a couple more charts. Yesterday price stayed above .7400(which is where I said it need to break down below for any further correction lower...but didn't do that). So you can see, it was a good place to "Buy the Dip" and make 30-50pips easy on the overnight rally.

Now I know a lot of people are still trying to short the Aussie and pick a top, and to each their own...so, if I was going to do that, I also included an example of what I look for in a short trade. You want to "Sell the Rally", or sell near the highs in order to use a smaller stoploss and protect your account. So the 1hr and 15min charts below are examples as to the type of candle/chart patterns I personally look for and notice how you enter near the highs of the day in order to keep your stoploss around 30pips or less(in this case, stoploss would be slightly above .7500).

Hope it all makes sense...ask me any questions you might have. Once again, I'm still bullish on the Aussie as we continue making higher lows and higher highs so the safer trade is to Buy The Dips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDproH1 017.png Size: 137 KB
Click to Enlarge Name: AUDUSDproM15 012.png Size: 119 KB
  • #387
  • Mar 9, 2016 9:01am Mar 9, 2016 9:01am
Well folks, that's exactly why I'm not taking any short trades!!! We just broke through .7500 and made another Higher Higher!!!
  • #388
  • Mar 9, 2016 9:03am Mar 9, 2016 9:03am
Quoting PA is King
{quote} ... can see .7400-7500 as the next targets as early as next week for .7500. Once again, Price Action is King and it's been trending up for weeks...my bias remains the same, buy the dips. Be careful trading NFP, if you trade it! Cheers!
Couldn't have called this one any better from last week!
  • #389
  • Mar 9, 2016 10:44am Mar 9, 2016 10:44am
I wouldn't be surprised if we hit .7580-7600 based on the Daily chart and the prior support area line I drew in there. That could be where this is heading to retest and for possible resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDproDaily 003.png Size: 206 KB
  • #390
  • Mar 10, 2016 7:46am Mar 10, 2016 7:46am
Big selloff on Euro and Pound...but no follow through selling on Aussie as usual. It does appear Aussie is currently trapped on the 1hr chart below .7500 and above .7460(1hr 50ma is at .7460).
  • #391
  • Mar 10, 2016 8:05am Mar 10, 2016 8:05am
Still lots of Aussie buyers, we just went from a low of .7455 to .7490(35pips) in 15minutes!
  • #392
  • Mar 10, 2016 8:08am Mar 10, 2016 8:08am
Quoting PA is King
Still lots of Aussie buyers, we just went from a low of .7455 to .7490(35pips) in 15minutes!
Wonder if it's more selling pressure from both Sterling and Euro crosses more than anything concerning this pair.
Don't get mad, get even!
  • #393
  • Mar 10, 2016 8:14am Mar 10, 2016 8:14am
Quoting stulic
{quote} Wonder if it's more selling pressure from both Sterling and Euro crosses more than anything concerning this pair.
Could very well have been.


But as I've been saying for weeks, the better trade is to the long side. As price has now rallied 55pips in under 30 minutes! For a day trader looking for 30-50pip winning trades, that was perfect!
  • #394
  • Mar 10, 2016 8:26am Mar 10, 2016 8:26am
With the above being said...I must be objective and open to changing market conditions. We have a while until today's daily candle closes...and we've had a nice 400pip rally over the past week and a half on Aussie without any real pullbacks, but it appears to be slowing down since it reached the .7500 level. Depending on how things goes the rest of the day, we could get a correction lower. Again, I'm still bullish on this pair...but you need a pullback/correction to buy. It may be nearing based on the price action I'm seeing.

update: while writing this message, price sold off 30pips quickly. Again, seems price is stalling at the .7500 level and finding support around .7460.

update2: as I wrote the first update, price just dropped 20 more pips. very quick price movements in both directions today. Trade Smart!
  • #395
  • Mar 10, 2016 9:25am Mar 10, 2016 9:25am
Really amazing price swings on E/U, G/U, and Euro/Aussie today. Lots of choppiness on A/U. If you guess right, congrats on your pips! If you stayed out and watched from the sidelines...congrats on protecting your account!
  • #396
  • Mar 10, 2016 10:10am Mar 10, 2016 10:10am
If today is the start of a deeper correction on Aussie, then I recommend looking at my post #376 with some possible pullback area...first support hurdle would be .7400.

http://www.forexfactory.com/showthre...71#post8800371
  • #397
  • Mar 10, 2016 9:35pm Mar 10, 2016 9:35pm
Well guys and gals, same story different day...Aussie's "dip" on Thursday was nothing more than a Higher Low pullback as you can see from my chart below. Price couldn't stay below .7430 on this dip. And now it's right back above the 1hr 50 it's been trending above for a while. We'll see what happens around .7500 where prior selling was found...but if it breaks though it could easily go up and make a Higher High.

Until this pair starts making Lower Lows and Lower Highs...my view is still Bullish and Buy the Dips is your safest trade! You'll only be wrong once.

Have a great weekend everyone!!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDproH1 018.png Size: 121 KB
  • #398
  • Mar 10, 2016 10:41pm Mar 10, 2016 10:41pm
Quoting PA is King
Really amazing price swings on E/U, G/U, and Euro/Aussie today. Lots of choppiness on A/U. If you guess right, congrats on your pips! If you stayed out and watched from the sidelines...congrats on protecting your account!

599292162016.03.10 03:09:17buy1.00audusd0.746570.000000.749102016.03.10 03:45:120.747560.000.000.00 132.43
599320242016.03.10 03:45:12balanceCommission - 59929216-3.00
599398502016.03.10 07:32:46balanceCommission - 59939849-3.00
599398492016.03.10 07:32:46buy1.00audusd0.747560.000000.749862016.03.10 08:35:220.748410.000.000.00 113.57
599413702016.03.10 08:35:22balanceCommission - 59939849-3.00
599418292016.03.10 08:52:20balanceCommission - 59941828-3.00
599398522016.03.10 07:32:59sell1.00usdzar15.198200.0000015.156222016.03.10 10:22:5215.155800.000.000.00 373.77
599466502016.03.10 10:37:14sell1.00usdzar15.171630.0000015.143252016.03.10 10:49:2715.152730.000.000.00 166.52
599418282016.03.10 08:52:20buy1.00audusd0.748650.000000.750072016.03.10 15:05:070.750070.000.000.00 189.32
people leave, but this thread will go on for ever
  • #399
  • Mar 11, 2016 7:39am Mar 11, 2016 7:39am
Quoting Aussi
{quote} 599292162016.03.10 03:09:17buy1.00audusd0.746570.000000.749102016.03.10 03:45:120.747560.000.000.00 132.43 599320242016.03.10 03:45:12balanceCommission - 59929216-3.00 599398502016.03.10 07:32:46balanceCommission - 59939849-3.00 599398492016.03.10 07:32:46buy1.00audusd0.747560.000000.749862016.03.10 08:35:220.748410.000.000.00 113.57 599413702016.03.10 08:35:22balanceCommission - 59939849-3.00 599418292016.03.10 08:52:20balanceCommission - 59941828-3.00 599398522016.03.10 07:32:59sell1.00usdzar15.198200.0000015.156222016.03.10 10:22:5215.155800.000.000.00...

Nice Job Aussi! Enjoy the pips and your weekend!

p.s. I'm glad to see someone buying the Aussie instead of trying to pick the top and sell.
  • #400
  • Mar 11, 2016 8:12am Mar 11, 2016 8:12am
I see it like that too. Nice tread you've got going.
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