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Just Another A/U Thread...

  • #401
  • Mar 11, 2016 8:42am Mar 11, 2016 8:42am
Quoting PA is King
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...

Can't say I didn't warn you...the facts are right on the charts. Higher Lows, Higher Highs! It's an UPTREND...there is never any follow through on selling. Any bad Aussie news is followed by BUYING. Any Good USD news is followed by Aussie BUYING. 5 straight Bullish Daily candles last week. 3 out of 5 Bullish candles this week(even on the 2 bearish daily candles, neither one went below the prior days lows meaning no follow through on selling). Follow the trend until the facts tell you otherwise!

We have gone Straight up 120pips from yesterday's lows with NO pullbacks!!! Again, the Market is telling you exactly which way to trade! And today we make ANOTHER Higher High! Look at the Weekly chart...7 out of the last 8 weeks are BULLISH! Enjoy the ride and make some pips!!!

sidenote: the attached chart is a 15min chart just to show the straight rise in price since yesterday's lows.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDproM15 013.png Size: 126 KB
  • #402
  • Mar 11, 2016 8:44am Mar 11, 2016 8:44am
Quoting rendite
I see it like that too. Nice tread you've got going.
Thanks...I like the quote on your profile. If fits in well with my idea of trading with the trend is your safest trade!
  • #403
  • Mar 11, 2016 8:54am Mar 11, 2016 8:54am
Quoting PA is King
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. {image}
2 days ago I posted this daily chart...we are almost there.
  • #404
  • Mar 11, 2016 2:56pm Mar 11, 2016 2:56pm
Quoting PA is King
{quote} 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.
following the trend PA monthly candle says it all , but as all good things some things end , some thing got to give , out for now on buys have no sells in yet
people leave, but this thread will go on for ever
  • #405
  • Mar 11, 2016 3:23pm Mar 11, 2016 3:23pm
Quoting Aussi
{quote} following the trend PA monthly candle says it all , but as all good things some things end , some thing got to give , out for now on buys have no sells in yet
Correct, nothing trends one way forever. When price action gives lower lows and lower highs I'll change my bias.
  • #406
  • Mar 14, 2016 9:08am Mar 14, 2016 9:08am
Nice pullback on Aussie today. First hurdle would be to close below .7500. A better correction would be near .7450-7470 to form a higher low on the 1hr chart.
  • #407
  • Mar 14, 2016 12:45pm Mar 14, 2016 12:45pm
Do you think Aussie will cut its rate tonight as Kiwi did last week and take everyone by surprise?
  • #408
  • Mar 14, 2016 2:38pm Mar 14, 2016 2:38pm
Quoting Fadhl
Do you think Aussie will cut its rate tonight as Kiwi did last week and take everyone by surprise?
What? No rate cut tonight mate.

http://www.rba.gov.au/schedules-even...ndar-2016.html
  • #409
  • Mar 15, 2016 9:31pm Mar 15, 2016 9:31pm
dosent seem to want to close below .7450,may be time for a buy,what do you think ?
  • #410
  • Mar 16, 2016 5:44am Mar 16, 2016 5:44am
Quoting buster48
dosent seem to want to close below .7450,may be time for a buy,what do you think ?
My post #406 above from Monday called it. The pips were already there to be made. Now it's FOMC today, trade very carefully.
  • #411
  • Mar 16, 2016 12:39pm Mar 16, 2016 12:39pm
Quoting PA is King
{quote} My post #406 above from Monday called it. The pips were already there to be made. Now it's FOMC today, trade very carefully.
Not quite sure what you mean here PA,also we now have a lower low from last week and a close below .7450 and the 200ma. .As you say we have the FOMC today so probably all bets are off anyway.cheers.
  • #412
  • Mar 16, 2016 1:10pm Mar 16, 2016 1:10pm
Quoting buster48
{quote} Not quite sure what you mean here PA,also we now have a lower low from last week and a close below .7450 and the 200ma. .As you say we have the FOMC today so probably all bets are off anyway.cheers.
We Barely had a Lower Low on the 1hr chart. But here's the big question...have we had a Lower High yet???

Once again, being long was the right choice!

As I mentioned to Aussi above, when we get Both a Lower High and Lower Low I'll start looking at changing my bias.

Cheers!
  • #413
  • Mar 16, 2016 1:17pm Mar 16, 2016 1:17pm
I'm short anyway and my style is not for scalpers but my 2c worth - spike up on an expected FOMC hold is not likely to sustain and should be interesting moves in less than 30 min with press conference. Added a small short at 7525 and would keep adding small positions on way back to 76c if it goes there.
Hope for the best, prepare for the worst.
  • #414
  • Edited 1:35pm Mar 16, 2016 1:22pm | Edited 1:35pm
No scalping here either, but I wouldn't disagree with you dab. From a day traders perspective (not long term) we have had a 110pip run up from today's lows. 90+ pips just in the last 15 minutes. So Aussie has reached its ADR. A short near .7520 could be good for 30-40 pips.

But don't get my above comment confused with my overall bias that buying the dips are still safer trades than shorts.
  • #415
  • Mar 16, 2016 3:08pm Mar 16, 2016 3:08pm
A daily close above .7500 is bullish and a daily close above .7530 likely means we are going to take out Monday's Highs and go above .7600.
  • #416
  • Mar 16, 2016 4:27pm Mar 16, 2016 4:27pm
Quoting PA is King
No scalping here either, but I wouldn't disagree with you dab. From a day traders perspective (not long term) we have had a 110pip run up from today's lows. 90+ pips just in the last 15 minutes. So Aussie has reached its ADR. A short near .7520 could be good for 30-40 pips. But don't get my above comment confused with my overall bias that buying the dips are still safer trades than shorts.
Buying the dips is working well P.A. I took 3 longs yesterday, all 3 hit my progressively higher TPs overnight, last one closed out at .7549. That's twice in a week It's rewarded me with good profits. But I was asleep last night when it made that short term slightly lower low. I would have been a bit concerned about that if awake. From here I expect it will at least challenge previous high before a retrace if it doesn't push through. Will be interesting.
  • #417
  • Mar 16, 2016 4:48pm Mar 16, 2016 4:48pm
just wait for Asian and London sessions. They were closed during fomc news.
  • #418
  • Mar 16, 2016 4:51pm Mar 16, 2016 4:51pm
The only thing that may cause a dip in Aussie, not change the trend though, could be AUD news tonight.
  • #419
  • Mar 16, 2016 5:21pm Mar 16, 2016 5:21pm
Quoting Blackopal
{quote} Buying the dips is working well P.A. I took 3 longs yesterday, all 3 hit my progressively higher TPs overnight, last one closed out at .7549. That's twice in a week It's rewarded me with good profits. But I was asleep last night when it made that short term slightly lower low. I would have been a bit concerned about that if awake. From here I expect it will at least challenge previous high before a retrace if it doesn't push through. Will be interesting.
That's GREAT news!!! I read so many posts in other AUD threads about people going short or who have been short for weeks thinking some "Big Drop" is about to happen any minute. But week after week A/U just keeping going up. I shake my head at how many pips traders have lost or missed when all they had to do was follow the trend. So it's refreshing to read your post!!! Keep up the great work.
  • #420
  • Mar 16, 2016 5:24pm Mar 16, 2016 5:24pm
It took A/U 2 1/2 days to drop 180pips from Monday's highs to Wednesday's lows....but it only took 9 hours for it to rally 160pips! Let that sink in!
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