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AUSSIE DOLLAR...here we go again? Intermarket Analysis

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And trade was taken off at .8200 from the target order I set up. I was at 8213 and was looking to take trade off but forgot about my stop order.

Looking at the movement, its on resistance/support but I think short opportunities would be coming up soon. I would like to follow it but dishes are calling me.
 

And a nice drop down to .8150
 
And cant seem to sleep. Took a peek again at the AUDUSD and its going through a narrow band. Took the trade at .8167 with a stop loss at .8155 and looking for another approach up again.

Good thing about FX for insomniacs is that you can log on anytime and check the markets.

Sorry for not putting up charts. I cant get them pasted with my postings to show the reasons I'm taking the trades. Again I'm using the 5min time frames to get direction and using 1minute charts for entry. If anyone had the one minute or 5 minute charts it would be great.

Daniel
 
Okay, took the trade off. Bought at .81670 when support was holding and then it moved up to about .8190 before meandering back down to my original support line. It looks like its starting to move up again but I sold at .81760 because its very late and I have to be up early to take the kids to school.
 
Ok, taken a look at the Aussie and its forming a flag/triangle on the 5 minute chart. I've finally managed to figure that to get the chart, I have to print and then scan it into the computer. I've taken the trade to go down at .81770 when it looked like it had double topped and now its forming a head and shoulders on the minute chart. Stop loss is at .81900, initial target .8150 then maybe around .8140.
 

morning DTM,

If you want some charts you can post on ASF, you could go and download MT4.

This is where I got my copy from-

http://www.northfinance.com/

Has heaps of different crosses, plus some commodities and indexes too.

Looks like the ozzy is good to get down to your target at the moment
 
Hope this chart shows through
 

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Now trade has been taken off at a different support level to what I previously had. Price action suggested that in the short term time frame, it will start moving up so bought back at .81640. On the longer time frames an interesting triangle or pennant is forming and would love to track it but time isn't something I have enough off. I have to go and prepare lunch for my two younger ones now.

Happy trading
 

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Wow, guess I was right, I've just taken a peek again and its jumped up to .81800

There's a lot of risk involved.
 
I took a 3 mini contracts long on the aussie$$ at 81.88 cents.

There was a range that was broken out off plus it broke the minor short term trend line suggesting a shot at higher prices. has taken off nicely, new trend line also confirmed for now buy the break out.

Looking for a higher lows to set up adding opportunities.

Green arrow my entry candle

Good trading
 

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Just like the euro/usd it was one hell of a roller coaster stopped out on my trade then after seeing it finding support opened up new longs quite close to the bottom. now in profit see what monday brings, as long as the aud can hold over 81.30 cents its still a long for now.

good trading
 


Thanks again Professor, having a look around now.


Good luck Trade it, hope it works out. Are you trading the two pairs at the same time. I had a quick look at it before and it seemed to both move the same way. Maybe you should check if one leads the other.
 
Taken a peek at the markets and looks like trading opportunities are coming up. Will take another look again this arvo or tonight.

The Aussie has been trading in a tight range and is building momentum for a big move up. It has been forming a pennant on the hourly charts and now the signal has been given on the 5 minutely and 1minutely chart that its moving up.

Short term can expect it to break out of its range. The Japanese Yen follows very closely in this relationship. The Euro and GBP were travelling in the same fashion but the GBP seems to be disconnected with the Euro in relationship to the USD.

The Aussies jumped from around .8200 to .8255 whilst typing this out. Look for a retracement and support around .8255.
 

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And here is the corresponding move.

Now its time to get back to work.

Safe trading
 

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is .8270 going to be the top for the Aussie tonight?
or will it make it all hte way to .8300...
 
Got called in to work and just got home now.

caribean said:
Aussie GDP news release was responsible for that jump, DTM..
Click to expand...

Hi Caribean, I think I know now when they talk about technicals versus fundamentalists. The charts the way I was reading it was always going to head up, although I don't think it will be a strong move up. Longer term charts on the daily and weekly shows me that its still in the bounce mode from where it sold off 26 August, and that it will retest .7900 - .7800 before heading up.

The size of the growth doesn't look like its suprised the market too much.

caribean said:
is .8270 going to be the top for the Aussie tonight?
or will it make it all hte way to .8300...
Click to expand...

Taking a quick look now and the aussies testing my major support at the .8225 mark and seems to be bouncing along it too much. It could drop off. Its currently showing a nice oversold signal on the .8225 and good opportunity for a trade, although it would be very short term.

.8225 was the breakout point I had drawn earlier although reading my previous post I accidentally said that it will retest .8255 instead of .8225.

No time to watch it properly and make a trade as the kids will be up in 4 hours. Best to go to sleep.

Happy trading
 

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Just got in from work. Looking at the Aussie it looks a over bought. Its resting on strong support after breaking through at .8270

Trying to time the selling of the Aussie on the one minute and per pip charts. Looking for a trade for half an hour or so.
 


Us dollar falling with gold breaking new ground for the year. Think you will find aussie will keep going up from here. Sub prime woes and property forclosures hitting extra bad time in news out tonight
 
Okay, sell order at .8274 with a stop loss at .8285 and looking for first target of around .8250
 
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