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AUD/USD

  • #101,401
  • May 8, 2017 11:20pm May 8, 2017 11:20pm
Quoting jpcashflow
{quote} I have had 6 position on sell at 7590 im 14k up. Will close position... shortly
Nice trading ...
  • #101,402
  • May 8, 2017 11:48pm May 8, 2017 11:48pm
Quoting lasty
{quote} Nice trading ...
Thanks guys aud will be good.for a buy next week
  • #101,403
  • May 9, 2017 1:47am May 9, 2017 1:47am
Quoting jpcashflow
{quote} I have had 6 position on sell at 7590 im 14k up. Will close position... shortly
6 contracts? 6 positions with various contract size? What are / were your position/positions made up of, did you enter all of them at the same level and exit at the same level?
  • #101,404
  • May 9, 2017 2:26am May 9, 2017 2:26am
Quoting Jfrancis
A little advise for everyone here. AU is currently in a downtrend. So there is no reason to start looking for a buy until that trend is broken. We need to pay attention to the patterns being made. Not news/political events. {image}

I am not entirely sure of that.

I am going by weekly chart (AEST) and I am expecting it to bounce from the region 0.72900 to 0.7337. Of course your chart could be entirely correct as well, but I expect a retracement from current levels to atleast 0.7450 region.

P.S. Your daily charts look different to mine, perhaps due to the different timezone.
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  • #101,405
  • May 9, 2017 4:52am May 9, 2017 4:52am
Quoting WhichWayMate
{quote} 6 contracts? 6 positions with various contract size? What are / were your position/positions made up of, did you enter all of them at the same level and exit at the same level?
Different sizes per contract the.more bearish the news and charts the.more I sold.

Now i think a upswing will take place budget was really.good
  • #101,406
  • May 9, 2017 5:03am May 9, 2017 5:03am
oversold, strong support at 0.7330
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Don't Worry Be Happy
  • #101,407
  • May 9, 2017 6:12am May 9, 2017 6:12am
Not at desk but when I left 73270 was looking great place for risk 7385 a clear nice target there for a nice 2:1 easy. I see its at an awesome price but there may be too much strength from the sellers BUT if you deem the sellers are weak here then get involved!!!

Only take this trade if you deem last rotation very week. And of course copper yieds etc I cant tell on phone ffs
  • #101,408
  • May 9, 2017 2:40pm May 9, 2017 2:40pm
Lower value built. SELLSIDE ONLY. How far the test is the only question. 7350 id say but hoping 7380 area.
  • #101,409
  • May 9, 2017 3:09pm May 9, 2017 3:09pm
Quoting WolGod
Lower value built. SELLSIDE ONLY. How far the test is the only question. 7350 id say but hoping 7380 area.
Aud might recover for short tern.
Last night budget was quiet positive.

Iron ore futures are the key now... also n korea has just said hello again.
  • #101,410
  • May 9, 2017 4:23pm May 9, 2017 4:23pm
Quoting Tradingwithw
Shorting AU, target .7341
  • #101,411
  • May 9, 2017 4:23pm May 9, 2017 4:23pm
Ok the Australian economy is struggling big time.
Australians have debt up to their eyeballs.
The budget did nothing for them except squeeze some more blood from their veins.

Taxing banks means making their customers pay more.

Hike in medicare levy another squeeze.

Its a pathetic budget and some have described it as Labor Lite meaning that it was designed to snuff out the opposition rebuke.

The real indication of how the economy is performing is a taxi driver test in Australia's biggest and most prosperous city, Sydney.

Of course taxi drivers complain about never getting enough fares but then you get the odd one who speaks the truth and this morning I got one .

He said he noticed a slowing of customers the signs of businesses cutting back and the general complaints of cost of living being unaffordable.

Taxi drivers sometimes are a good barometer because they speak to a good cross percentage of normal people not BS economists being paid to spruik.
  • #101,412
  • May 9, 2017 5:06pm May 9, 2017 5:06pm
if it can't get past 0.7330, then it won't be bearish
Don't Worry Be Happy
  • #101,413
  • May 9, 2017 5:10pm May 9, 2017 5:10pm
Quoting lasty
Ok the Australian economy is struggling big time. Australians have debt up to their eyeballs. The budget did nothing for them except squeeze some more blood from their veins. Taxing banks means making their customers pay more. Hike in medicare levy another squeeze. Its a pathetic budget and some have described it as Labor Lite meaning that it was designed to snuff out the opposition rebuke. The real indication of how the economy is performing is a taxi driver test in Australia's biggest and most prosperous city, Sydney. Of course taxi drivers complain...
Hi,

Reality is that the whole world is on its knees with debt. Household debt is Australia is a major problem but like most countries its also a problem.
Taxing is a part of life.

Believe it or not Australia is not even on the top 25 most tax paying country in the world, so the government has this in their hand.
GST / VAT is still below other countries.

Australia is going through a major change... especially in the job space but australia is quiet a innovative country, so where one industrty may shrink another may flourish.
  • #101,414
  • May 9, 2017 5:15pm May 9, 2017 5:15pm
Quoting jpcashflow
{quote} I have had 6 position on sell at 7590 im 14k up. Will close position... shortly
Yes sure, and I'm still holding longs from .7745, I'm down 400 pips but I'm up 28K.
My broker pays me if I'm wrong.
  • #101,415
  • May 9, 2017 5:58pm May 9, 2017 5:58pm
Quoting lasty
Ok the Australian economy is struggling big time. Australians have debt up to their eyeballs. The budget did nothing for them except squeeze some more blood from their veins. Taxing banks means making their customers pay more. Hike in medicare levy another squeeze. Its a pathetic budget and some have described it as Labor Lite meaning that it was designed to snuff out the opposition rebuke. The real indication of how the economy is performing is a taxi driver test in Australia's biggest and most prosperous city, Sydney. Of course taxi drivers complain...

Hi Lasty, Taxi drivers have indeed faced a decline in customers, but that may have less to do with the economy and more to do with Uber .

This year's budget by the politicians is more about raising money to splash around at the cost of the average Joe. They can't do a mining tax with the mining economy in decline. The only fat cats left were the banks. I am sure the Banks will just pass on the costs to consumers like us and still make their billions. I am just appalled at how the news was leaked to everyone, other than retail investors.
  • #101,416
  • May 9, 2017 6:18pm May 9, 2017 6:18pm
Quoting Vorex
{quote} Yes sure, and I'm still holding longs from .7745, I'm down 400 pips but I'm up 28K. My broker pays me if I'm wrong.
Lmaooo
Good Logic
  • #101,417
  • May 9, 2017 6:18pm May 9, 2017 6:18pm
Quoting jpcashflow
AUD BIIGESTPUNCH in the guts has been a drop of iron ore of 4.2% today. Aud will be going through some gains as now the aud is at a realistic value.
Quoting jpcashflow
{quote} Very true.. Aud will start to head north true.. aud is starting to look like good.value for once
Quoting jpcashflow
{quote} Aud will be heading into bull territory.
Quoting jpcashflow
{quote} I have had 6 position on sell at 7590 im 14k up. Will close position... shortly
Quoting Vorex
{quote} Yes sure, and I'm still holding longs from .7745, I'm down 400 pips but I'm up 28K. My broker pays me if I'm wrong.
Vorex, glad I'm not the only one doubting jpcashflow's claims - I don't understand why people feel the need to post self congratulatory info which comes across as so fake. Who is going to believe jp has been holding sells from at least April 17 (last time price was at 7590) when posts last week and in week following April 17 were all talking AUD up?
Hope for the best, prepare for the worst.
  • #101,418
  • May 9, 2017 6:27pm May 9, 2017 6:27pm
Quoting Jfrancis
A little advise for everyone here. AU is currently in a downtrend. So there is no reason to start looking for a buy until that trend is broken. We need to pay attention to the patterns being made. Not news/political events. {image}
I still believe that AUD is in the downtrend. But we are in a correction. So, we have to wait a little bit until the main trend move appeared and join the trend by selling. Good luck to all of you guys.
  • #101,419
  • May 9, 2017 6:31pm May 9, 2017 6:31pm
Quoting dab
{quote} {quote} {quote} {quote} {quote} Vorex, glad I'm not the only one doubting jpcashflow's claims - I don't understand why people feel the need to post self congratulatory info which comes across as so fake. Who is going to believe jp has been holding sells from at least April 17 (last time price was at 7590) when posts last week and in week following April 17 were all talking AUD up?
If u dont believe.me i dont give a shit
  • #101,420
  • May 9, 2017 7:08pm May 9, 2017 7:08pm
Quoting fawzy
{quote} I still believe that AUD is in the downtrend. But we are in a correction. So, we have to wait a little bit until the main trend move appeared and join the trend by selling. Good luck to all of you guys.

Just to clarify, the downtrend I'm speaking of is the one within the corrective pattern, not the overall monthly downtrend

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