AUD/USD Trade Idea - 05.03.2015

ranina

Newbie
2 0
New here

Hi everyone, I'm new here t2w and my 1st posting.
Some great looking charts I see on this thread.
Please excuse me if my charts look upside down to everyone else? :)

AUDUSD just completed wave (iv) correction moving down to find new low.
 

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DavidKl

Member
67 0
Hi Stefcio, hopefully it will stay under that SMA, It looks like the area of 0.7717 will be broken now, so the next level to watch out for in my opinion will be the low from February 2nd at 0.7619 if that level will get broken as well, we'll be looking at the 61.8% Fib expansion at the area near 0.7504 - 0.7508. Just a thought.
 

Forexmospherian

Legendary member
39,928 3,301
AU - Intraday plans from the 9th March for next week.

Hi David

Love to share my thoughts on the AU .

I am more intraday ( short term ) but do leave swings on with stops in profit etc from my scalps

What is your stop size from your 07800 entry for your approx 80 -85 pip target ??

I have interim supports at 7742 to 7760 area and i would be buying in that area - but might only be short term scalps for 10 - 40 pip pullbacks

I understand why you have sold at any price under 7815 /20 and can see your reasoning

Good Luck with it and if we do go under 7740 then yes can see 7720 and 7700 area being on


Regards


F

Hi guys

I expect to be both buying and selling again this next week on an Intraday basis with the main idea of leaving sells on under 07760 /70 - with approx 55 / 60 being the critical area

I had favoured sells on my part stake swing trades after the first half of the week as long as we kept under 7780.

I took in total 5 scalp buys from the 7755- 60 area on Thursday evening and Friday morning - with the move going up in total approx 90 pips - although I had only 60+ with my exit on the last buy being at just after Midday Friday on thread number 38408 on my intraday blog -

http://www.trade2win.com/boards/dis...ng-calls-expert-retail-forex-trader-3841.html

After NFP news it was sells again with more added when we got under 7740 - but left none on over the weekend.

I actually made more money along with better RR's out my pre NFP buys then the sells afterwards - as all scalps on stops under 5 pips.

I plan to look at buying if we stay above 7680 / 95 and then its a case if we stay under 7755 / 60 more sells again.

If we breach under 7660 I will look at holding sells down to 7625 area with next supports at 7600. We then ideally need to stay under 7750 again for more attempts going lower under 7600 to mid 7500 area.

Everything changes for me back above 7780 - 7800 and 7850.

In a normal week i will take a minimum 6 trades on the AU and maximum say 20 with most scalp RR's being from 1 to 4 and swing ones of part stakes can be easily 10+ as still based on original 5 pip stops.

It ranks maybe 5th or 6th on my intraday FX pairs list with EJ / EA / EU and GU my main 4 pairs I intraday the most.

Good Luck to all trading it this next week

Regards


F
 

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fxstrategist

Established member
604 16
There is a good support on the AUDUSD around the 0.7700. In order to see a breakdown of this area, there has to be some new fundamental reason to make it drop further.
 

Forexmospherian

Legendary member
39,928 3,301
There is a good support on the AUDUSD around the 0.7700. In order to see a breakdown of this area, there has to be some new fundamental reason to make it drop further.


That could be 12 30 am UK time in the morning ie Tuesday 9th March

For me above 7715 I am still buying but ideally need to see above 7740 and 55 to take more

Under 7725 I am out my intraday buys ( in profit ) and then as you say will either 7700 or 7715 hold as interim supports etc - ot is it sells down to under 7685 and then below ?

GL

Regards

F
F
 

DavidKl

Member
67 0
I think that the price will reach 0.7270 level
View attachment 204406

Are you aiming for the 50% fib retracement? I am looking at the daily chart on the AUD/USD and I'd be cautious about the 0.382 retracement level at 0.718 as there is a resistance created by the doji from the 22nd of November. Also let's remember that there is a strong downtrend in place.
 

tomorton

Legendary member
8,421 1,346
Great to keep a log of all trades. There's always something to learn about this game, ways to improve.

If you're not wishing to post up here your methodology for AUD/USD trades, maybe at least whatever lessions being learned from the trades taken (both winners and losers, also the non-trades, the trades signalled but not taken)?
 

DavidKl

Member
67 0
I think that the bulls are running out of the steam they rallied up earlier but got rejected by the short term trend line. My strategy is to wait and see what happens at those level 50-61.8% and then get into a short trade with a target to retest the previous support at 0.7070 (nice round number) :)
 

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fxstrategist

Established member
604 16
The AUDUSD is till trying to correct to he upside, but the bearish trend is still in place. The 0.7000 level could act as support and the 0.7100 could act as resistance.
 
 
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