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AUDUSD Discuss market action in the Australian Dollar versus the US Dollar

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  #1 (permalink)  
Old 06-07-2008, 10:52 AM
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Default Favourite currency pair: AUD/USD

AUD/USD is my favourite currency pair simply because it is most predictable.
I had done back-testing on AUD/USD, and found out that Bollingerband is the best indicator to track buy and sell signal.

So trading AUD/USD is a systematic process to me:
First my proven indicator Bollingerband must signal buy on the daily chart.
Second I use 10 min chart to look for entry level.
Third find a level for the stop.

So since daily bollingerband is still showing buy signal, I had entered a trade based on 10 min chart, and bought 100,000 AUD/USD at 0.9609.

Last edited by Pipcrawler; 06-07-2008 at 11:08 AM. Reason: link violation/ spam advertising
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Old 06-08-2008, 06:17 PM
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Quote:
Originally Posted by trader123 View Post
AUD/USD is my favourite currency pair simply because it is most predictable.
I had done back-testing on AUD/USD, and found out that Bollingerband is the best indicator to track buy and sell signal.

So trading AUD/USD is a systematic process to me:
First my proven indicator Bollingerband must signal buy on the daily chart.
Second I use 10 min chart to look for entry level.
Third find a level for the stop.

So since daily bollingerband is still showing buy signal, I had entered a trade based on 10 min chart, and bought 100,000 AUD/USD at 0.9609.
Hi Trader 123,

Is it that you placed a long because the price was above the middle BB on Daily and showing uptrend? On 10 mi it looks like a down trend to me? Can you please comment so that I can understand your decision.

Thanks
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Old 06-29-2008, 08:57 AM
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Sorry, I think I miss your question. Now I had forgotten why I had entered this trade. Take a look at my home page, my explanations for my trades are all there.
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Old 07-28-2008, 07:01 AM
 

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This discussion is very useful
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Old 08-30-2008, 11:40 PM
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Looks like the price should regress to the mean because it's past the 2.0 STD DEV.


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Last edited by TheRumpledOne; 08-31-2008 at 04:06 PM.
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