bobmaninc's quest to short the Aussie into extinction

[bobmaninc]

Still waiting a setup none as of yet. I was going to post an old trade but decided I would just move forward and not backwards. This way I can show the before (entry) during (trade management) and after (). I didnt even look at the charts this morning so I am not even sure if my short from yesterday got stopped out yet or not. If so its still a 1:1 trade if not grat but judging by yahoo finance I was stopped a few pips ago . Not the best trade I even took but when ever I trade with out a candle formation as confirmation I do consider it a risky trade. That one just lined up to well not to take.

[lalomb35]

What a week so far with the EUR/USD and the AUS/USD, bearish, bearish and bearish. Europe is in a mess of uncertainty and all markets are down, thanks to Greece. It did not save at all the data from Germany. Investors are worried and the outlook is uncertain. However, for fx traders is a beautiful opportunity to make the most of our bearish trade against these two currency pairs. Happy trade

[bobmaninc]

true unfortunately today I missed my trade setup. Hoping to see a retrace to get short. There really is nothing stopping the AU until 0.9800. And that was not since last year but was a strong number. Even this year the AU seems to like the even figures. What I mean by that is 1.0200, 1.0000 (even though it didnt stand up so well this time) 0.9800, 0.9600, 0.9400. Price like them round figures however keep in mind since price has not been down here in a while there are not many stops but many thinking we are way oversold (me to at this point even though I only short). Keep trades tight. What goes up must come down and what goes down must come up. That principle is what I call fundamental analysis. Not saying this move will not go on further but an end is coming soon. Besides that I swing trade with such step moves down its hard to get a swing to get back short on higher time frames if there is no swings as of late. But dont worry (I never do) markets will turn and set me up later with better swings. Till then I wait. I do have stuff to show but it is just not here today but great drop. Hope to see another sideline day tomorrow to retrace to almost pairty to set up OTE from the 1hr or about the 1.0080 to set up OTE on the 4hr. Not saying that going to happen but thats where I stand today. Guess we will see what the market have tomorrow I dont see much today. Or wait was a great day just not for me.

[Leg0nd]

I agree price has loved all the even numbers thus far. Not that it doesn't range on uneven numbers etc. I'm short on the Australian dollar as well. It just broke parity, outlook for Greece is terrible at the moment. Currencies are all linked together, so if the euro continues in this downtrend, I Believe it safe to assume the aud/usd will continue down as well. Do you trade any pairs together (same direction)?

[bobmaninc]

I agree price has loved all the even numbers thus far. Not that it doesn't range on uneven numbers etc. I'm short on the Australian dollar as well. It just broke parity, outlook for Greece is terrible at the moment. Currencies are all linked together, so if the euro continues in this downtrend, I Believe it safe to assume the aud/usd will continue down as well. Do you trade any pairs together (same direction)?

I only trade the aussie and only short. But I do look at the cable, fiber, kiwi, and usdx. I do see the aussie bouncing off .9800 will see what happens there. Drops have been step and I have hit some nice swings along the way but I got tagged out and man its been hard to get back in. I do not chase price even though I am kind of kicking my self but hey it is what it is. Not the first time and not the last. I am happy I got a trade off pairty even though it was not great but my account is happy. I guess you could call it revenge trading as I remember it kicking my butt last year. This year I came back with a lot more to bring to the table and even though I thought it was going up heading in. What I learned (thanks ICT) told me I was wrong and it was not done heading south. This pair might be going down quick but the daily I can see a retest. If that happens Nikitas BPC will setup nicely and line up with everything else I have learned. Then we will have a nice swing trade and I will be waiting. I dont need to trade every day nor do I care to. When my trade comes I will take it. Other than that hope you all the best in trading its tuff. There is a bottom coming just when is the question.

[lalomb35]

Confident is the key to go back to track, unfortunately at the moment there is a lack of confident and optimism. Since yesterday morning I went short with the EUR/USD and has paid off so far 1:1 = 105 pips. With the Aussie/ USD, I went long since last week from 1.00981 = 185 pips 1:1. The reason for this, comes from a blend of economic data from Australia, concerns of China slowdown and the European crisis, which it has been supported by my trend line and breaking my resistances all the way down. It appears that the Aussie will hit the 0.98 sooner than later. It is happening...!

[Leg0nd]

The way I look at it... And my interest bearing trades prove my point at the moment ( each are down over 100 pips)... Times are tough. Here, Europe, china... You name it. Since things are so rough and continuing to get rough, everyone has been flocking to lower yielding interest currencies aka usd! All of my trades this week have been against the interest differential and because of that I have yet to lose a trade. I too shorted the euro and made 100 pips today off the euro alone and over 100 pips on buying the dollar against various other currencies

[lalomb35]

There is a rumour going on about the Fed minutes later on......! Any idea about the possibility of quantitative easing proposal by the Fed. How that will affect the major pairs and gold, it could be the turn around for a bit. Any ideas? Cheers

[happypip]

Cool thread! I'll be following this one, too! Keep those Aussie ideas coming, fellas

[salimvp]

Price is approaching 0.9950-55 area. Near term resistance. keenly watching this area. Will enter if it resist.