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AUD/USD

  • #97,341
  • May 19, 2016 9:19am May 19, 2016 9:19am
Quoting diavolul
{quote} Yeah, I am resonating with your kind of view. I have few shorts and I am willing to add more of them after the upside correction will be finished. {image}
Please can you let me know, what is sequence of orders, after every retracement you add more orders, but what volume u use?like, 0.01, 0.02, 0.03, 0.04, 0.05, maximum i should use 0.05? and one more important thing, when you close the orders? which time frame you use to close the order? please your guidance will valueable for me, thanks for co-operation,
  • #97,342
  • May 19, 2016 9:41am May 19, 2016 9:41am
AUDUSD Buy stop ready..I think if it reaches my buy stop order, this will rocket up again..

Attached Image (click to enlarge)
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  • #97,343
  • May 19, 2016 9:47am May 19, 2016 9:47am
Quoting acit
AUDUSD Buy stop ready..I think if it reaches my buy stop order, this will rocket up again.. {image}
seemed like a trap! probably long tml
  • #97,344
  • May 19, 2016 10:08am May 19, 2016 10:08am
Quoting ahmed37
{quote} Please can you let me know, what is sequence of orders, after every retracement you add more orders, but what volume u use?like, 0.01, 0.02, 0.03, 0.04, 0.05, maximum i should use 0.05? and one more important thing, when you close the orders? which time frame you use to close the order? please your guidance will valueable for me, thanks for co-operation,
I began with 0.1 lot trade (1 USD) and I have reduced them to 0.03, as the trend developed - so if the trend was about to finish I would lose too much. I plan to do the same after a larger correction. The same sequence: 0.1, 0.05, 0.05, 0.05 and 0.03 and that would be all. By larger correction I mean at least 0.73-0.74, but I need to see clear waves when I go on lower time frames and upside momentum for at least three days. I this way I have managed to recover from nearly 90% drawdown.

Attached Image (click to enlarge)
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  • #97,345
  • May 19, 2016 10:22am May 19, 2016 10:22am
Quoting acit
AUDUSD Buy stop ready..I think if it reaches my buy stop order, this will rocket up again.. {image}
Might never get there. I use buy stops with stocks but not with currency pairs.
Don't get mad, get even!
  • #97,346
  • May 19, 2016 10:27am May 19, 2016 10:27am
Quoting stulic
{quote} Might never get there. I use buy stops with stocks but not with currency pairs.
Do you think we've seen the lowest with AUD/USD .. 0.7185 today?
  • #97,347
  • May 19, 2016 10:59am May 19, 2016 10:59am
Quoting acit
AUDUSD Buy stop ready..I think if it reaches my buy stop order, this will rocket up again.. {image}
The trend is down my friend. From your moving average lines that you have, it shows downwards trend. Unless price can break back above .7250 with a day close candle, then we may call it a trap and a reversal might be in play. If not, trend is still down.
The true fact is market doesn't care, risk mgt is important.
  • #97,348
  • May 19, 2016 11:16am May 19, 2016 11:16am
Quoting diavolul
{quote} I began with 0.1 lot trade (1 USD) and I have reduced them to 0.03, as the trend developed - so if the trend was about to finish I would lose too much. I plan to do the same after a larger correction. The same sequence: 0.1, 0.05, 0.05, 0.05 and 0.03 and that would be all. By larger correction I mean at least 0.73-0.74, but I need to see clear waves when I go on lower time frames and upside momentum for at least three days. I this way I have managed to recover from nearly 90% drawdown. {image}
Thanks a lot, for guide and sharing ur experience, I will follow ur way, Thanks again,
  • #97,349
  • Edited 12:57pm May 19, 2016 12:46pm | Edited 12:57pm
Has the major upside reaction already started? It could. My Elliot wave knowledge is not fantastic but seems to be a FLAT pattern. We are not into a lower degree 4 wave or 2-wave so those two options are eliminated. But it could be the first wave of a triangle or a flat of larger degree or a complex correction - will about to see!

Attached Image (click to enlarge)
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I have entered one more time in a short position on 0.7210 level but I am looking already for an early exit - not risking anything, already. When the upside trend line will be invalidated it could go lower in so many ways, but only in three wave movement - not five, so caution should be advised.
I will post later on further developments if my knowledge permits it, cheers!

later edit: If anyone has Elliot wave theory knowledge please tell me if this could develop into a leading diagonal of an impulse, please? Thank you.
  • #97,350
  • May 19, 2016 4:25pm May 19, 2016 4:25pm
Buy @0.7220, SL 50pips, TP +100pips
  • #97,351
  • May 20, 2016 12:47am May 20, 2016 12:47am
buy buy guys,good rise is coming
  • #97,352
  • May 20, 2016 1:48am May 20, 2016 1:48am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H1.png Size: 188 KB

if it doesn't break above then expect it to drop
  • #97,353
  • May 20, 2016 2:57am May 20, 2016 2:57am
Short .7249 SL .7267
  • #97,354
  • May 20, 2016 4:18am May 20, 2016 4:18am
Quoting Blackopal
Short .7249 SL .7267
looking good so far, whats your tp?
  • #97,355
  • May 20, 2016 5:24am May 20, 2016 5:24am
Quoting erichmj
{quote} looking good so far, whats your tp?

TP .7196 looks good
  • #97,356
  • Edited 10:06am May 20, 2016 9:42am | Edited 10:06am
hit 61.8% fib again, closed all my shorts @ 72155
tp was 71744, almost hit the target last night...

if it doesn't break below 7212 then expect it to stay 7212 - 7249
Attached Image (click to enlarge)
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  • #97,357
  • May 21, 2016 7:41am May 21, 2016 7:41am
Strong bounce down after retesting the monthly TL and while we got the daily cross smack on the 61.8, that's a lot of power coming down from the 50 fib on Wednesday.
Weekly shows a break and a strong upper wick, so could be heading down for a possible double bottom to retest the breakout pattern
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #97,358
  • May 21, 2016 7:58am May 21, 2016 7:58am
If we retest the monthly channel, will be watching PA to see if we can retest the red TL near resistance above
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AUDUSDMonthly1.png Size: 31 KB
Come with me if you want to live....
  • #97,359
  • May 21, 2016 8:09am May 21, 2016 8:09am
the break back into the green daily/weekly channel off the main monthly TL above, opens up the path below I think
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 36 KB
Click to Enlarge Name: AUDUSDWeekly.png Size: 30 KB
Come with me if you want to live....
  • #97,360
  • May 22, 2016 7:16pm May 22, 2016 7:16pm
Morning Punters. AUD @.7225

I've been harping on about the Australian economy going off the boil for some time now. Not that Im a pessimist but just an observation into the fundamentals before making a decision on a trade.

Many have noticed the unemployment number has stabilized yet it doesn't seem to reflect whats occurring in the economy.

Here maybe the answer as someone has decided to dig a little deeper and no doubt been puzzled too.

http://www.news.com.au/finance/work/...5807cffb310f22
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