Doomy's back and he's about to butthurt the AUD/USD

Doomberg

Established member
960 75
Long £20 a point from 8795, stop at 8745.. was this the bottom of the AUD downtriend? :clover:
 

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sonofcablemonster

0 0
Is this what they call a revenge trade? I think gamble aware have a freephone.

Why is it the bottom? Why why why why why. The ass has just fallen out of it. What fundies are behind the trade? I worry about you. Where is the reasoning?
 
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Forexmospherian

Legendary member
39,928 3,301
HI Doomberg

I was thinking of you earlier on in the week and glad you held off until today. You have started well and even better - in £500+ of profit.

I reckon it might struggle at 8840 -50 area - and then its a case will it stay above 8790

GL and if we get over 8850 - then we might make 8880-90. Back under 8790 - well you have got a bit of leeway before that stop

Regards

F
 

random12345

Established member
793 280
Long £20 a point from 8795, stop at 8745.. was this the bottom of the AUD downtriend? :clover:

That takes balls.

Last time there was a job whiff on the forecast like that as happened last night, it broke down two days in a row May 12-13 2011, but then it did find some support in doing so on the 2nd day. At that time though the Aud was really strong generally... China and all that malarkey.

Well.

This really takes balls.
 
L

Liquid validity

0 0
Doom, there is one thing and one thing only that is the primary driver for AUDUSD right now.
The FED cutting bond purchasing to 75B a month (down from 85B).
Thats it, its not going away:

http://www.abc.net.au/news/2013-12-...st-to-fall-to-80-us-cents-during-2014/5179680
http://au.ibtimes.com/articles/5345...ollar-australian-outlook-jpy.htm#.UtjAAvsR3Sg

Aside from those fundamental factors, as a purely technical level,
no too bad a level based on S&R.
Even then you have entered at potential support without waiting to see
the reaction to that level first.

All in all though, fundamentals are driving this right now.
So bias favours shorts.
 
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L

Liquid validity

0 0
Pretty sure he meant double bottom and reverse...
Possible in the shorter term, USD likely to cause overall downwards bias though.
 

Doomberg

Established member
960 75
Still in the game boys, looks like it could be a showing signs of reversal... limit is set for now at 8995.9 which gives a 4k profit since my open was 8795.9. If it breaks through 9000 properly then i may re-open a position but with a small stop at say 8985 and hope that it establishes an uptrend.

After a 30% drop i think it's due a huge re-trace tbh, And does anyone else think that a crash in thre USD is not that far away?
 

Forexmospherian

Legendary member
39,928 3,301
Still in the game boys, looks like it could be a showing signs of reversal... limit is set for now at 8995.9 which gives a 4k profit since my open was 8795.9. If it breaks through 9000 properly then i may re-open a position but with a small stop at say 8985 and hope that it establishes an uptrend.

After a 30% drop i think it's due a huge re-trace tbh, And does anyone else think that a crash in thre USD is not that far away?

Morning Doomberg

With regards to AU - yes its been intraday bullish so far to day - rising over 45 pips from its low and still bullish above 8780 area.

I need over 8807 and 11 to take more new scalp buys and then we need over 8830+ to hold them on.

The US are off today - so I think you are safe above 8780 for now

GL - but as you might guess under 8780 and 75 I would be scalp selling again to see if it tests that low again

Regards

F
 
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Forexmospherian

Legendary member
39,928 3,301
AU - its just gone 2 00 pm UK time and its looks like the AU cannot get above 8821. Under 8816 its just been a scalp sell and it will be interesting now to see if 8800 area holds - or whether we test lower - ie 8780-90 area.

I can scalp buy again over 16 and 22 - but meanwhile it favours scalp sells down to interim support levels
 
 
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