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AUD/USD

  • #98,841
  • Sep 4, 2016 11:45pm Sep 4, 2016 11:45pm
Closed out Fridays short this morning.
Looking for higher entry with same TP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 36 KB
Click to Enlarge Name: AUDUSDWeekly.png Size: 25 KB
Come with me if you want to live....
  • #98,842
  • Sep 5, 2016 2:28am Sep 5, 2016 2:28am
Quoting Ill-b-back
Closed out Fridays short this morning. Looking for higher entry with same TP {image} {image}
Good charts. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #98,843
  • Sep 5, 2016 2:47am Sep 5, 2016 2:47am
Quoting KeenPips
{quote} Good charts. Green pips to you. KP
Thx KP, you too
Come with me if you want to live....
  • #98,844
  • Sep 5, 2016 3:34am Sep 5, 2016 3:34am
The price is testing the resistance level. At the moment, the price moves to a point 0.75781. If the price breaks the resistance will continue to move to the point of 0.76154.
Attached Image (click to enlarge)
Click to Enlarge Name: Б9.png Size: 39 KB
  • #98,845
  • Sep 5, 2016 3:59am Sep 5, 2016 3:59am
Ok, assuming the RBA doesn't cut rates tomorrow, A/U is gonna shoot upwards. It's almost a no brainer in recent times - the AUD rises faster on no news than it falls on bad news. Imo Anyone planning on shorting should probably wait for the recent top at 7750...reduced risk.
  • #98,846
  • Edited 9:45am Sep 5, 2016 8:37am | Edited 9:45am
Attached Image (click to enlarge)
Click to Enlarge Name: cot latest.png Size: 890 KB
Edited: Non Commercials still net long it seems.
  • #98,847
  • Sep 5, 2016 8:41am Sep 5, 2016 8:41am
Quoting vwap
{image} Commercials still net long it seems.
Is there any use of it?
  • #98,848
  • Sep 5, 2016 9:42am Sep 5, 2016 9:42am
Quoting vwap
{image} Commercials still net long it seems.
I think you mean the Non-Commercials are Net Long, the Commercials are about 47K Net short
  • #98,849
  • Sep 5, 2016 9:44am Sep 5, 2016 9:44am
Quoting Mathy
{quote} I think you mean the Non-Commercials are Net Long, the Commercials are about 47K Net short
Oops! thanks Mathy, long day lol!
  • #98,850
  • Sep 5, 2016 9:57am Sep 5, 2016 9:57am
Quoting vwap
{quote} Oops! thanks Mathy, long day lol!
  • #98,851
  • Sep 5, 2016 10:24am Sep 5, 2016 10:24am
HI Guys I'm new in trading last Friday I take aud - usd sale for $6000 at moment I'm losing about $5000 I'm not sure close it or wait until tomorrow for cash rate what you thinks guys aus dollar going up or down I need advise
  • #98,852
  • Sep 5, 2016 11:01am Sep 5, 2016 11:01am
Buddy,

honestly, your post almost gave me cancer.

And now to be serious. I would recommend You to close out all your positions and cashout all the money left on your balance.
You need to learn first the basics of trading, try out different methods and strategies.
Then construct your own trading strategy and stick to it in the long term at first only on demo. If you can be at least break-even on demo, then you can start thinking about trading live.

I have a short bias on the A/U, but I do not have any positions open on this pair. If it goes south, then we can look for 742X-ish levels for profit taking.

Trade safely!
  • #98,853
  • Sep 5, 2016 11:32am Sep 5, 2016 11:32am
Quoting Elekdawys201
HI Guys I'm new in trading last Friday I take aud - usd sale for $6000 at moment I'm losing about $5000 I'm not sure close it or wait until tomorrow for cash rate what you thinks guys aus dollar going up or down I need advise
@takeurpills said it right...you need to learn more and develop a strategy and plan first before you throw in such a huge amount of capital!

i think the risk is to the upside later when the RBA announces their decision. meaning it may most likely surge upwards even more. because they're most likely to keep rates on hold. and that naturally will see a knee jerk reaction higher. that reaction alone may get you closed out. .... even if it comes down later if the RBA speaks dovish.

good luck!
  • #98,854
  • Sep 5, 2016 11:57am Sep 5, 2016 11:57am
Quoting TakeUrPills
Buddy...I would recommend You to close out all your positions and cashout all the money left on your balance. You need to learn first the basics of trading, try out different methods and strategies. Then construct your own trading strategy and stick to it in the long term at first only on demo. If you can be at least break-even on demo, then you can start thinking about trading live...
Please take this advice very seriously.

KP
Do your homework, follow the footprints of smart money
  • #98,855
  • Sep 5, 2016 3:22pm Sep 5, 2016 3:22pm
I can only say what has worked for me

1) Learn news trading- I trade before and after announcements- its a doddle
2) Cut your leverage- max 1:10 leverage and only if you are really certain

Looking at tomorrow:

In Aus GDP is weak and inflation is still on the floor- although everything else is doing ok
I think that the market is expecting nothing from Stevens- ie "things are going well" - ie it will rally
However, if he is dovish it will catch the market by surprise and will come off
And it must have annoyed Stevens - that when he cut rates the last time - the Aussie rallied shortly afterwards
In any event London traders will join in- I will be joining in to push the move (60+ pips)
I actually celebrating before I have even made the trade-
  • #98,856
  • Sep 5, 2016 7:39pm Sep 5, 2016 7:39pm
Quoting Fader123
I think that the market is expecting nothing from Stevens- ie "things are going well" - ie it will rally However, if he is dovish it will catch the market by surprise and will come off And it must have annoyed Stevens - that when he cut rates the last time - the Aussie rallied shortly afterwards In any event London traders will join in- I will be joining in to push the move (60+ pips) I actually celebrating before I have even made the trade-
Stevens is no longer the governor.

RBA will hold tomorrow, not sure about the bias in the statement though. There has been a lot of construction activity lately, so they might mention that as a sign of progress and effect of their policy.
  • #98,857
  • Sep 5, 2016 9:33pm Sep 5, 2016 9:33pm
Quoting Starcraftmaz
{quote} Stevens is no longer the governor. RBA will hold tomorrow, not sure about the bias in the statement though. There has been a lot of construction activity lately, so they might mention that as a sign of progress and effect of their policy.
this is his last meeting as Governor I think
Come with me if you want to live....
  • #98,858
  • Sep 5, 2016 9:41pm Sep 5, 2016 9:41pm
Quoting skyhok
{quote} Expecting near term higher highs & lows - moved SL higher. {image}
Decomposing wave structure on H4 - an ending diagonal which is expected to terminate at least 0.7851
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD wave structure.png Size: 71 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #98,859
  • Sep 5, 2016 11:07pm Sep 5, 2016 11:07pm
Quoting Ill-b-back
{quote} this is his last meeting as Governor I think
  • #98,860
  • Sep 6, 2016 11:35am Sep 6, 2016 11:35am
It's become quite clear now that the aud is on the up. Reviewing the past few drops (the significant ones by >100pips from the TOP)... All drops have been triggered by fed hike euphoria. In each case, when the possibility of a fed hike evaporated, the aud began to climb again. Same as for this time around. So the yield hunt factor is still the main driver indeed, not really the "awful" Aussie economy and other fundamentals. That's just how I see it at this point. Bought @ 7624, holding till 7750 but setting a TP for once at 7660 in case aus data later screws it.
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