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Re: AUD is a short

I've gone a spec short @8869 on the chance that there could be a short covering rally in the $USD from the oversold position below 81 & the near universal 'dollar is doomed' wall of worry. Commodities retreating at the moment, & gold down 2%.


LONDON, July 25 (Reuters) - Copper prices fell more than 1 percent on Wednesday as labour dispute concerns eased, while lead and nickel slipped as the dollar strengthened. London Metal Exchange copper <MCU3> for three-months delivery was at $7,860/7,875 a tonne at 0937 GMT, down from Tuesday's close of $7,965.


Copper touched a 10-week high of $8,212 on Monday, buoyed by a weaker U.S. dollar making metals cheaper for holders of other currencies, but prices were hit as the currency bounced back. "The stronger dollar is having a knock-on effect on the base slide we are seeing," an LME trader said.
 
Re: AUD is a short

I've gone a spec short @8869 on the chance that there could be a short covering rally in the $USD from the oversold position below 81 & the near universal 'dollar is doomed' wall of worry. Commodities retreating at the moment, & gold down 2%.


LONDON, July 25 (Reuters) - Copper prices fell more than 1 percent on Wednesday as labour dispute concerns eased, while lead and nickel slipped as the dollar strengthened. London Metal Exchange copper <MCU3> for three-months delivery was at $7,860/7,875 a tonne at 0937 GMT, down from Tuesday's close of $7,965.


Copper touched a 10-week high of $8,212 on Monday, buoyed by a weaker U.S. dollar making metals cheaper for holders of other currencies, but prices were hit as the currency bounced back. "The stronger dollar is having a knock-on effect on the base slide we are seeing," an LME trader said.

Nice to see your in the FX game UF,

Nice idea will watch with interest.
 
Re: AUD is a short

Nice to see your in the FX game UF,

Nice idea will watch with interest.

Hi TI,
Finally jagged one for a change. It was a by product of some research on gold. Looks like a purely technical setup from oversold and short covering. I give it maybe another month to sort itself out then might re-test 80 again? Any projections along the timeline for this?
UF
 
Re: AUD is a short

UF,
The counts are a tad dubious but this is the way I am trading the Skippy at the moment... not sure about the time projections...
Cheers
............Kauri
 

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Re: AUD is a short

Hi Kauri,

Welcome back,

After that sharp drop on the AUD either index related or not, I am back in the market on the long side, with 3 minis currently.

Bought as I saw it bounce on the support line plus it hit 50% fib point and found some buying.

Also holding a short on the euro/gbp. :) :)

Holding till it stops me out on 2, or breaks trend on the third.

UF

Have you taken a long on it? I am not sure on time lines but I will be staying in and adding until the trend is over. I have a target of 88 cents but its still in the early stages. (dont quote me on the 88)

I will move my post back to the aussie here we go again thread after this.
 

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Re: AUD is a short

I'm long, bought in at .85412, was looking good up until the last couple of hrs. I'm gonna sit tight and see what happens. Got my stops at .85800, which will have me slightly in the red. Overall though, 70% of my fx are in positive territory, and I've done ok with some of the major indices. Was a good day to long on most positions.
 
Re: AUD is a short

Hi Kauri,

Welcome back,

After that sharp drop on the AUD either index related or not, I am back in the market on the long side, with 3 minis currently.

Bought as I saw it bounce on the support line plus it hit 50% fib point and found some buying.

Also holding a short on the euro/gbp. :) :)

Holding till it stops me out on 2, or breaks trend on the third.

UF

Have you taken a long on it? I am not sure on time lines but I will be staying in and adding until the trend is over. I have a target of 88 cents but its still in the early stages. (dont quote me on the 88)

I will move my post back to the aussie here we go again thread after this.

Well I was cleaned out of two of my contracts last night. They were looking good as I went to bed.

O well thats the game! see what this next falls shows on the support side.
 
Re: AUD is a short

Hi Trade_it,
I'm still on the short side, on the 60 and 240 min charts am looking for the 5th wave of the corrective a , not far off methinks, then may be time for a bullish b ???
Cheers
...........Kauri
 

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Re: AUD is a short

Have closed out my shorts and will watch and see if a W2 or B develops from here... seeing as the minor w5 has reached its minimum target area.
 

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Re: AUD is a short

If the minor Wc brings in the intermediate W2 orB there may be a short into the W3 or C,
 

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Re: AUD is a short

Just might be heading up to complete the minor Wc..W2 orB before moving down again.... if it does I'll be looking for a quick short on the following W3orC
Cheers
..........Kauri
 

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Re: AUD is a short

Sooner or later my Wc...W2orB.... will come in, maybe the RBA will push it up there for me, will then be looking for a short down to the W3orC which should also be the W4... starting to confuse myself now :eek:
Cheers
........Kauri
 

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Re: AUD is a short

Well we got our Wc...W2orB on the skippy ... and am now short... has been a busy afternoon with the EURJPY also a short on a similar setup.. :) .. had the cable as a short setup also but wasn't 100% on that one so passed it up. :mad: ...
Cheers
..Kauri
 

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Re: AUD is a short

Well we got our Wc...W2orB on the skippy ... and am now short... has been a busy afternoon with the EURJPY also a short on a similar setup.. :) .. had the cable as a short setup also but wasn't 100% on that one so passed it up. :mad: ...
Cheers
..Kauri

Hi Kauri,

well well well.............

I opened a long on the AUD Wednesday night at 85.90 and it was all rosy till I looked at it at 5pm yesterday moved my stop up, thank god as I thought it looked like dropping back into the range, well it did not drop ito the range it did its best to smash thought it! was stoped with a minor profit. but jeez I was chased out of there faster then a mouse at a cat convention! ;)
 
Re: AUD is a short

Hi Kauri,

well well well.............

I opened a long on the AUD Wednesday night at 85.90 and it was all rosy till I looked at it at 5pm yesterday moved my stop up, thank god as I thought it looked like dropping back into the range, well it did not drop ito the range it did its best to smash thought it! was stoped with a minor profit. but jeez I was chased out of there faster then a mouse at a cat convention! ;)

Hi TI,
I'm looking, at the moment, for a decline down to around the 82c. level..... if a bit of a pause eventuates around the current levels for both the Skippy and the EURJPY I will be looking to pyramid my shorts...
Cheers
..........Kauri
 

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Re: AUD is a short

Hi TI,
I'm looking, at the moment, for a decline down to around the 82c. level..... if a bit of a pause eventuates around the current levels for both the Skippy and the EURJPY I will be looking to pyramid my shorts...
Cheers
..........Kauri

Kauri,

As I saw this morning the trend and minor support was broken, with a very good possibility of further downside, I have taken a short on the AUD/USD entry @ 84.99.

Here's to the red side!
 

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Re: AUD is a short

Kauri,

As I saw this morning the trend and minor support was broken, with a very good possibility of further downside, I have taken a short on the AUD/USD entry @ 84.99.

Here's to the red side!

Closed my short friday night.

made two more short term short plays on the AUD saw the minor intraday rally looking for support or more down side.

Good Trading
 
Re: AUD is a short

Hi,...I have a limit buy in on AUD at 8378/8380, with stop at 8369...I thought we might have got down there in Friday night (8/10/07) Trading
 
Re: AUD is a short

Hi,...I have a limit buy in on AUD at 8378/8380, with stop at 8369...I thought we might have got down there in Friday night (8/10/07) Trading

Hi TA,

The AUD and other FX crosses can really do the opposite. Its still plunging on the intraday but finding support with a minor rally. Your limit may get hit but fx loves to drop down in plunges and then it can retrace 50% and find support in no time at all.

You still might get filled.
 
Re: AUD is a short

Yeah ...I was filled & we got a bounce which didnt held long ....but tight stop made damage minimal...8180 area looking like next best bet atm....but this thing is shapping up bigger than I first imagined.
Thanks for reply
 
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