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AUD/USD

  • #96,841
  • Apr 30, 2016 12:03am Apr 30, 2016 12:03am
Quoting SkyrEk
{quote} Broken. Currently +20pips. Moved stops to BE. Gonna let this ride down Cheers! {image} {image}
Good 50pips+ in profits after my first posting on my short entry. I hope all traders here are making money too. Steer your speculative ship accordingly. News & analysis are just noises. Really. If you don't believe, one fine day, you will realise this is the truth.

Those whom have traded long enough will know, RBA cut rates in 2015, AU rallied harder. In line with fundamentals? NOPE. Just go with the flow.
Have a great weekend to all
  • #96,842
  • Apr 30, 2016 12:46am Apr 30, 2016 12:46am
Quoting SkyrEk
{quote} Good 50pips+ in profits after my first posting on my short entry. I hope all traders here are making money too. Steer your speculative ship accordingly. News & analysis are just noises. Really. If you don't believe, one fine day, you will realise this is the truth. Those whom have traded long enough will know, RBA cut rates in 2015, AU rallied harder. In line with fundamentals? NOPE. Just go with the flow. Have a great weekend to all
Fundamentals will get back in play one day and bite some happy bulls on their ass. Fundamentals is the key with AUD long term. And I trade a LONG time.
  • #96,843
  • Edited 2:11am Apr 30, 2016 2:01am | Edited 2:11am
Quoting cold chisel
{quote} Fundamentals will get back in play one day and bite some happy bulls on their ass. Fundamentals is the key with AUD long term. And I trade a LONG time.
Pretty sure fundamentals will come into play again before the year finishes. It is just matter of time.

Meanwhile you will see different people trying to catch the top with shorts, and then come by here to tell us how many pips they made, no losing trades.
  • #96,844
  • Apr 30, 2016 2:10am Apr 30, 2016 2:10am
Quoting Ill-b-back
{quote} ok I see what you mean, yeah it's quite a sort TL and on it's own I would not take this as a TL break, it's just not long enough. But it is coming down off a very nice pattern retest with a nice 1hr reversal candle (highlighted in green), so I was happy to plot it as a break. Hope this helps. {image} {image}

Yea the second charts looks better, i just find the line too steep to be useful in the original chart.

Is it a norm for traders to plot the lines off the lowest points? I see a lot of charts here doing that. From experience the supports or resistances very rarely sit at these extreme points. Do you observe the volume or momentum at these extreme points to confirm that they are valid points for the line plot? Or perhaps you have methods that you use to determine these points that you are generous enough to share here.
  • #96,845
  • Apr 30, 2016 2:12am Apr 30, 2016 2:12am
Quoting SkyrEk
{quote} Good 50pips+ in profits after my first posting on my short entry. I hope all traders here are making money too. Steer your speculative ship accordingly. News & analysis are just noises. Really. If you don't believe, one fine day, you will realise this is the truth. Those whom have traded long enough will know, RBA cut rates in 2015, AU rallied harder. In line with fundamentals? NOPE. Just go with the flow. Have a great weekend to all
RBA cuts rates when it's rates are over 2% higher than anywhere else and it doesn't bring the Aussie down and that's not in line with fundies? It is.
The price of iron ore and coal starts tanking and the Aussie almost halves in value from 1.10 to 0.69 and that somehow all technical?
You drew one short term trendline and saw the price break through 20 pips and because you're short you think you found a holy grail.
This pair may well shoot higher towards 80 cents because there's enough of money betting on it dropping of the cliff and their stops are just too tempting to not go after, but inevitably if the fundamentals of all both Chinese and Australian economies don't start improving significantly, the pair is bound for low 60's rather than parity.
Don't get mad, get even!
  • #96,846
  • Apr 30, 2016 2:43am Apr 30, 2016 2:43am
skyrek those are some beautiful trades recently
  • #96,847
  • Apr 30, 2016 6:35am Apr 30, 2016 6:35am
Quoting 10cents
{quote} Yea the second charts looks better, i just find the line too steep to be useful in the original chart. Is it a norm for traders to plot the lines off the lowest points? I see a lot of charts here doing that. From experience the supports or resistances very rarely sit at these extreme points. Do you observe the volume or momentum at these extreme points to confirm that they are valid points for the line plot? Or perhaps you have methods that you use to determine these points that you are generous enough to share here.
Hi 10cents, when it comes to plotting my TL's, as I said in an earlier post, I just look to see what fits the chart. ie, where are candles reacting(compressing), then breaking the TL with a long candle. Sometimes I use tips only, other times I incorporate a tip (at the TL origin) then just run the line up the bodies after that if PA just before and after the break shows it is appropriate.
see the daily below. The Blue one works, the red one doesn't.
see also the 4hr in 3rd chart.

I do find I usually start with the low point, but not always.
If price congests for a while before changing direction, I can't really draw a credible TL without cutting through the bodies of other candles, and need to start at another candle to draw a credible line.
Hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 29 KB
Click to Enlarge Name: GBPUSDDaily1.png Size: 29 KB
Click to Enlarge Name: GBPUSDH4.png Size: 26 KB
Come with me if you want to live....
  • #96,848
  • Apr 30, 2016 9:51am Apr 30, 2016 9:51am
Staying out for now.
  • #96,849
  • Edited 3:05am May 1, 2016 2:33am | Edited 3:05am
AUDUSD remains in an uptend on the daily, could go as low as 0.753 to test support.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd-1may.png Size: 54 KB


Also wanted to point out it closed above the 23.6% fib retracement from 0.684 where the rally began (0.759)
  • #96,850
  • May 1, 2016 2:35am May 1, 2016 2:35am
expecting a gap down tomorrow morning, china manufacturing pmi lower than expected.
  • #96,851
  • May 1, 2016 1:36pm May 1, 2016 1:36pm
Uptrend also strong on monthly
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 5.2%
  • #96,852
  • May 1, 2016 2:06pm May 1, 2016 2:06pm
Quoting 9jatrader
Uptrend also strong on monthly
is it?​
  • #96,853
  • May 1, 2016 4:55pm May 1, 2016 4:55pm
Quoting Don96
{quote} is it?​
yes
  • #96,854
  • May 1, 2016 4:58pm May 1, 2016 4:58pm
Quoting alayinizAMK
{quote} yes
​and how often is it that you trade in the monthly timeframe?
  • #96,855
  • May 1, 2016 5:07pm May 1, 2016 5:07pm
Quoting Don96
{quote} ​and how often is it that you trade in the monthly timeframe?
i trade au not the time frame:nerd:

Attached Image
  • #96,856
  • May 1, 2016 5:08pm May 1, 2016 5:08pm
Quoting alayinizAMK
{quote} i trade au not the time frame:nerd: {image}
the question of which pair you trade wasn't one that I asked...
  • #96,857
  • May 1, 2016 5:28pm May 1, 2016 5:28pm
Quoting Don96
{quote} the question of which pair you trade wasn't one that I asked...
k champ
i have a trade to consider. will see if it get s/o or if this moves so i can move my sl into a profitable area. I have worked my plan long ago and my body is ready for this.

your body redy for this? trading it at all?

Attached Image
  • #96,858
  • May 1, 2016 5:32pm May 1, 2016 5:32pm
Big week for AUD.

Tomorrow RBA rate decision and later the budget.

Im believing a rate cut is imminent as inflation is no longer a threat. Glen Stevens hates deflation so he would like to get it back on the radar ASAP.

Basically an election budget.

It will be interesting as tax cuts are on the cards for middle income earners proposed by the LNP

Opposition Labor leads in the polls and they are keen on raising taxes which will stifle recovery but we need to see the right of reply on the budget.
  • #96,859
  • May 1, 2016 5:32pm May 1, 2016 5:32pm
Quoting alayinizAMK
{quote} k champ i have a trade to consider. will see if it get s/o or if this moves so i can move my sl into a profitable area. I have worked my plan long ago and my body is ready for this. your body redy for this? trading it at all? {image}
​nope, I'm guessing your long though? looks like 0.74x for me but I'm not in and not planning on getting in, I posted 0.79 somewhere I think. ill wait until I see something else. good luck with your monthly timeframe trading looking for 30 pips
  • #96,860
  • May 1, 2016 5:40pm May 1, 2016 5:40pm
Quoting Don96
{quote} ​nope, I'm guessing your long though? looks like 0.74x for me but I'm not in and not planning on getting in, I posted 0.79 somewhere I think. ill wait until I see something else. good luck with your monthly timeframe trading looking for 30 pips
thanks for such kind wishes champ and already showed my entry and sl
will try not to disappoint you
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