Stormin_Norman
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also depends on if the reserve bank cuts rates.
AUD
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BentRod
ZZZZzzzzZZZZzzzzzzzz
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By saying it wont you are effectively calling a bottom in the AUDUSD.
Do you really want to call a bottom
Personally I think the safer bet for is for continued downside, especially since the RBA intervened at 62.50.
If you have a look back you will see on most occasions Central bank intervention levels (on all currencies) have been breached not long after.
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By saying it wont you are effectively calling a bottom in the AUDUSD.
Do you really want to call a bottom
Personally I think the safer bet for is for continued downside, especially since the RBA intervened at 62.50.
If you have a look back you will see on most occasions Central bank intervention levels (on all currencies) have been breached not long after.
Hmmm. Care to review that?
If the AUD continues it's relentless soaring towards USD parity, what then for Oz exporters?
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not quite sure if all this up is really sustainable !!! anybody has charts to share ?
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A 30% rise since it's trough, i think it could run out of steam soon and trade within a band 75-78c.
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Average Joe,
The USD is weak.
There arent many on this move and are saying its got to retrace.
Not a good sign as market not bullish yet however dont rule out whipsaws.
I suggest you take a look at the Kiwi chart.
Apparently, and I dont follow charts, there is a massive head and shoulders in the 61 zone which if breach could race to the 70 cents level.
The Oz will no doubt follow...
Tread carefully...Its going to be fun n games time soon.
The USD is weak.
There arent many on this move and are saying its got to retrace.
Not a good sign as market not bullish yet however dont rule out whipsaws.
I suggest you take a look at the Kiwi chart.
Apparently, and I dont follow charts, there is a massive head and shoulders in the 61 zone which if breach could race to the 70 cents level.
The Oz will no doubt follow...
Tread carefully...Its going to be fun n games time soon.
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Thanks lasty.
The kiwi broke above .61 today.
0.78 is apparently an important resistance level for the aussie.
The kiwi broke above .61 today.
0.78 is apparently an important resistance level for the aussie.
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Average Joe,
The USD is weak.
There arent many on this move and are saying its got to retrace.
Not a good sign as market not bullish yet however dont rule out whipsaws.
I suggest you take a look at the Kiwi chart.
Apparently, and I dont follow charts, there is a massive head and shoulders in the 61 zone which if breach could race to the 70 cents level.
The Oz will no doubt follow...
Tread carefully...Its going to be fun n games time soon.
market is kinda nervous it seems or it is me who is too nervous to get back into the market ?
Stormin_Norman
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call me crazy, but im on a short at 80 cents.
thats a very aggressive entry Norm (reminds me of the guy who keeps looking at me in my bathroom mirror
lol ) ---- bit different to your regular system entry yes? u scaling into it or just punting on friday being a spikey top? ---
good luck with it
Stormin_Norman
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big rally, bad figures this week, nice round number + good risk/return.
sold at 7994
SL at 8050
target 7500 or there or there abouts.
a fundamental trade. no indicators at all.
sold at 7994
SL at 8050
target 7500 or there or there abouts.
a fundamental trade. no indicators at all.
CanOz
Home runs feel good, but base hits pay bills!
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is this going down from now on or what ???
has rally topped ????
share please .. great I got my stop loss in place !!! i have lost lots in the past due to holding on/being stubborn ....
the chart is confusing atm, not sure where to go in, up or down ???
has rally topped ????
share please .. great I got my stop loss in place !!! i have lost lots in the past due to holding on/being stubborn ....
the chart is confusing atm, not sure where to go in, up or down ???
white_goodman
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Stormin_Norman
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i got my fingers burnt for a 56 pip loss earlier.
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anybody got the ride last night ??? wish I had the profit position held longer !!! was too tired went sleep earlier ...
I look through the Forex threads on this forum and time and again I see complex analysis and speculation about what a currency is likely to do and why it's likely to do it.
Unnecessary in my opinion.....better to look at what a currency pair is doing right now, then position yourself to take advantage of it while it lasts.
Looking back to the very first post on this thread on 21/3/07, one of the guys was short even though the chart showed a raging uptrend. When his short view was proven wrong he pronounced the Aussie 'now untradable'.
In the posts that followed there was much discussion and speculation about the future direction of AUDUSD based on various fundamental views.
I couldn't care less about the fundamentals - I'm only interested in what the chart tells me.
For my money, the chart was bullish on 21/3/07 and that was about all that mattered.
Once the chart is decisively trending, look for one or two simple entry setups and take a position in the direction of the trend.
Get out with a small loss if it goes against you, hang in there for big gains if it goes the right way. Not too difficult really.
Regarding the current AUDUSD price action.....a PPS triangle formed on the daily chart in April.
Anyone who got in from the breakout of the triangle at the end of April and simply rode the trend is up almost 1000 pips so far, plus any pyramiding they did along the way.
Unnecessary in my opinion.....better to look at what a currency pair is doing right now, then position yourself to take advantage of it while it lasts.
Looking back to the very first post on this thread on 21/3/07, one of the guys was short even though the chart showed a raging uptrend. When his short view was proven wrong he pronounced the Aussie 'now untradable'.
In the posts that followed there was much discussion and speculation about the future direction of AUDUSD based on various fundamental views.
I couldn't care less about the fundamentals - I'm only interested in what the chart tells me.
For my money, the chart was bullish on 21/3/07 and that was about all that mattered.
Once the chart is decisively trending, look for one or two simple entry setups and take a position in the direction of the trend.
Get out with a small loss if it goes against you, hang in there for big gains if it goes the right way. Not too difficult really.
Regarding the current AUDUSD price action.....a PPS triangle formed on the daily chart in April.
Anyone who got in from the breakout of the triangle at the end of April and simply rode the trend is up almost 1000 pips so far, plus any pyramiding they did along the way.
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