This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

AUD/USD

Jump to new
tothemax6 said:
Financial firms always get the information first. You can at best get it just after that.
Click to expand...

Makes me think that as a retail investor FX must be purely traded from a T/A perspective as the firms can't be 'pipped at the post'.
 
Neutral said:
Makes me think that as a retail investor FX must be purely traded from a T/A perspective as the firms can't be 'pipped at the post'.
Click to expand...

I believe so - at least in the short term. You can still trade the 4 hour or daily candles with a fundamental bent. With an honours degree in Economics I started out this way but quickly discovered trading technically is the only way to trade the forex market in the short term.
 
AUD/USD

Early selling pressure on Tuesday, but the 2nd 12 hour pattern didn't
provide a continuation pattern of a further weakness....

instead it set up for a higher daily close...

Wednesday has already reached it's highs, but whilst above the weekly level
@1.0536, we could see more buying towards the Weekly highs @ 1.0639
 

Attachments

  • aud4-200.gif
    18.6 KB · Views: 1
The USD is in freefall right now, AUD is going vertical
 
Yeah that is a wicked blast up. Killed this little AUD/USD bear last night.
 

Yes, I love that fact. I'm not dismissing at all the benefits or discipline required to complete a university degree but I do get a bit of a kick out of making triple the amount my friends are who have just completed uni. Not to mention I work on my terms, my hours etc.

Originally I was just going to trade CFD equities however my limited initial capital restricted me to trading forex - in my opinion a much more exciting, fast and convenient market. I gained NOTHING out of those free brochures the brokers give out "The top 10 mistakes made when trading CFDs" etc. Nor did I gain anything from paper trading. With brokers like IG offering minimum $1 contracts nothing beats real, hands on experience and the psychology behind it. I'll never stop learning but I knew since day one forex trading was the career for me!
 
AUD/USD

AUD continues with the breakout above the April highs and extending towards
the MAY highs...

It has also broken out of the Yearly highs @ 1.0612, which could see the
extension up towards 1.17-1.18 (in 2011)

Random resistance (Thursday's highs -approx 1.0955)
 

Attachments

  • aud4-288.gif
    19.2 KB · Views: 2
AUD Weekly and Daily range

AUD has continued to push higher (above Yearly highs @ 1.0612) , and can continue
to follow the trend towards the Weekly and Monthly highs in MAY...

However, my view is that the AUD is starting with a '2-day reversal pattern',
as long, as it remains below 1.0955-62 (11am)
 

Attachments

  • aud5-222.gif
    22 KB · Views: 0
AUD/USD

AUD has rallied in early Sunday trading, moving into the channel highs and
also a precise 84 pip spiral top @ 1.1008

Monday is either going to settle above 1.0962 and then continue towards the
Weekly highs...

or follow a 2-day reversal :- 10962 is the trend guide @ 11am
 

Attachments

  • aud5-2222.gif
    20.5 KB · Views: 0
Frank D said:
However, my view is that the AUD is starting with a '2-day reversal pattern',
as long, as it remains below 1.0955-62 (11am)
Click to expand...

I hope so. Have short two bucks/pip from 1.10092 that it does.
 

Attachments

  • untitled.bmp
    116.3 KB · Views: 7
Wysiwyg said:
I hope so. Have short two bucks/pip from 1.10092 that it does.
Click to expand...

Due you think you are being a little aggressive bring the stop into BE so quickly? Liquidity might be a little on the low side in europe tonight so there could be a fakeout before any real move down begins IMHO.

Good luck with the short though, hope it goes well
 
You may be right but if the upper trend channel line remains intact, a break of this new high will see price go past my entry more than I wish to tolerate. Thanks.
 
AUD daily range & spiral filter (84 pip)

currently trading under 1.0962 @ 11am, after coming down from the
earlier highs (spiral top)

Whilst it's below 1.0962, movement is based on 84 pips....with the view that it has
the potential to continue for 2-days (random length)

To help validate a 2-day reversal pattern, it needs to break support levels in the
12-hour @ 1.0081-1.0084
 

Attachments

  • aud5-2b.gif
    22.6 KB · Views: 3
Frank D said:

To help validate a 2-day reversal pattern, it needs to break support levels in the
12-hour @ 1.0081-1.0084
Click to expand...

That scenario failed to unfold and a precision push to the same high as I shorted at has occurred. Gotta love how easy price is manipulated hey? Cost me nothin.
 
AUD/USD

AUD consolidating within a 84 pip range on Monday...

And the 2-day reversal pattern is now looking like a 2-day 'stall' pattern
 

Attachments

  • aud5-33.gif
    24.6 KB · Views: 1

That second rally to the same all time high was precision hey. Cost me nothing and with two smalls I was hardly a financial target. My belief that price would continue up if reaching that high again was made wrong.
 
Wysiwyg said:
I hope so. Have short two bucks/pip from 1.10092 that it does.
Click to expand...
So opened a short trade of two minis at 1.10092 with the aim of hitting a significant down move off the upper trend line. Moved stop to break even and went to work.

The visual result of leaving my stop loss at break even while aiming for an intermediate or major top resulted in the price going back to my entry point before dropping away "considerably". The common play is to spike price higher than the previous high to catch out any close stops before falling away or just a continuation of the up trend.

Can't beat the house no matter what I do. Time to disconnect their vacuum cleaner.
 

Attachments

  • untitled.jpg
    69.8 KB · Views: 3
AUD Weekly, Daily and Spiral filter

AUD completes the 2-day reversal, as it goes looking for the
Weekly level @ 1.0796.

There hasn't been a breakout of the 5-day lows, therefore there is now the
possibility that the trend can continue up towards this week's highs, and then
the monthly highs.

However, there isn't a valid long set-up to trade during the first 12 hours,
other than using random support around 1.0803/13 (Wednesday's lows)

AUD is either going to remain above support.....(consolidate 1 day, and then
continue upwards over the next 2-days:- Thursday/Friday)

or follow the dominate range of 84 pips and continue lower (breaking support)
 

Attachments

  • aud5-44.gif
    23 KB · Views: 0
AUD/USD

Weekly level and Wednesday's support holding.....

If the trend is going to continue upwards, I've mapped out a possible price pattern
that could occur today

However, there is always the possibility that Support breaks....

therefore partial exit longs (41 pips from today's lows @ 1.0830

and run stops below the lows (&) hold
 

Attachments

  • aud5-444.gif
    20.8 KB · Views: 1

Just a thought, perhaps look at scaling out as an alternative to trying to defend the entire position via a BE stop. Half the position off @3R, then leaving stop in it's original place can help with times like this where you would be shaken out before the move really begins.

I know you said that this trade cost you nothing, and looking at it from one perspective you are quite right. Looking at it another way you've basically picked the top to the pip and not made anything off the 200 pip move down. Pretty big opportunity cost IMHO
 
You must log in or register to reply here.

Similar threads

B
USD index vs. AUD index
Replies
9
Views
8K
christianrenel
C
P
USD/SGD analysis
Replies
5
Views
5K
PipSafe
P
AUD/JPY
Replies
7
Views
6K
notting
F
Options for shorting AUD vs. USD?
2
Replies
20
Views
16K
FlyingFox
F
Ultimate Acronym List (UAL)
Replies
0
Views
5K
Dividend
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...