Bobmaninc's quest to short the Aussie into extinction

Not in Tampa but not far away. I am in Jacksonville

The first entry was triggered last week…

Had to be really patience since price seemed to go against me but now the trade has developed as planned…


http://i1086.photobucket.com/albums/j449/yunny11/eurusd108.png

Well done yunny… :slight_smile:

Very well done indeed. I was in that trade but finally got bumped out with the QE3 talk. Lucky for me the hurricane missed me although the weather is pretty bad but not a hurricane. So its back to business as usual. I will be looking for a rally so short I have not spent much time in front of the charts lately so not sure what I am looking for. Things have been hectic around here hopefully it will get back to normal soon

My SL was hit at 1.0312… +184 pips :slight_smile:

I still think there is room for more down side, but I will reenter at better levels

Looks like today the daily chart will post a piercing line pattern (not at support), so a limited rebound is likely

I figured it would happen sooner or later when I seen you mention you tighten up your stops in the traders arms. I have been watching but have not seen a promising entry lately. So hopefully this little bounce will bring some opportunity with it. Till then I will be stalking and waiting to continue my quest. For now you can catch me in the traders arm for a pint or 10 :smiley:

Seems like Weekly is going to end up with a nice bullish pin bar.
Daily has been bull for past two days.
Will it be too soon to say that next week bias should be buy?

Hi bobmaniac!

I know that you must be the master of shorting he Aussie, and I’d like to ask if I’m right if I short it now from 1.04. Would you be so kind to give me some of your thoghts about it? thanks in advance!!!

Well price is in a nice area to short. As of right now price action is just not convincing enough for me to squeeze the trigger.

ühüm ok. I’v shorted it already. maybe I’m a bit too hardheaded but I just knew it, it would fall :slight_smile:

Eur/Aud must go on long a bit, (till1.29?) but if both E&A falls it can still be long :slight_smile: The pity is, I can not calculate TakeProfit. So I’m lost.

I also want to share an idea about shorting Eur/HUF . the prime minister of Hun. has just announced, that they still need the IMF after all, so there must be a fall both fundamentally and technically. here I still have problem with the goal :slight_smile: takeprofit is my weak point. I would be happy to chat about it.
cheers!

a silly hungarian

Was a good call there. Enjoy the pips :slight_smile:

oh, so that was just a call. I had expected a much faster retracement, with a strong long in the end, from about 1zero :slight_smile: the realone, not that we had just seen,haha.

I might just place a short order under the low of today’s Daily bar if it closes as a high test later on this evening (GMT). The high of yesterday’s Daily bar touched the Monthly pivot, seemed to reject it. The high of today’s bar is a rejection of the 50 Fib level drawn from the high of 9th August to the low of 5th September. And if you’re a little forgiving of the tall wick of 23rd August (I am, as it closed a very bearish day) then today’s high will also give you a third touch of a falling trendline on the Daily. Price has also started making lower highs on the Hourly, and the 240 could be giving us a downtrend with the last few days just having been a complex retracement. Certainly the high of 7th September coincides clearly on the 240 with the low of 17-19 August (which is also the Monthly Pivot level for September.

Sorry, that’s a lot of waffle, I guess I should have just posted a chart (!) but looking at the Daily chart now in that context, I expect I’ll be placing a short order later on this evening.

ST

It’s an averages game, to me. While you’re right, obviously, for my EOD trading I just tune out the news. There are any number of things that could kill a trade, any number of things that could accelerate it to my TP, some things are priced in, some turn out not to be, some worry the market, some don’t - my take on it all is that it messes with one’s head too much, trying to anticipate all of that in detail. So for my EOD trading I just tune out the news and take the technical setups, I don’t bother about the news at all and it pays over the long haul.

My intraday trading is a wholly different matter, then obviously I don’t position myself ahead of the big stuff.

I’m not trying to be negative, or even to disagree with you, I’m just explaining why I’m not worried about that sort of issue when placing EOD trades.

ST

Some very interesting concepts here. I must agree with ST as I do watch the news but only to try and think I am up to date on my current events. I do not really trade it often. Besides was QE put back on the table last week? If it was then its already priced in but since its on the table they might as well take it off. lol I will see what the pair looks like in a few hours. Probably look to see something around 7 EST tonight. I didnt get any sleep last night as my son apparently knows how to throw one heck of a 4 year old birthday party. I spent all night half drunk and cleaning the mess. Must be nice to be 4 and not have to pay for it or clean it up. So there is surely a nap calling me right after work in about an hour.

Lol that sounds like damning with faint praise!! But I agree with you, there are many ways to skin a cat.

I wouldnt hold your breath on it. FMOC is starting to remind me of the karate kid “wax on wax off”

oh, many thanks for these viewpoints, guys! trading is much more interesting this way. actually I think there’s so many retracement here, that it is hard to see the tree in the wood. also this parallel eur & usd falling is hard to track

With a commodity currency I prefer to play the extremes…


http://i1086.photobucket.com/albums/j449/yunny11/eurusd112.png

needless to say, I stopped out. next time at the signed place up there must be better. (1.045 is a takeprofit for longers, so 48 should be good for a slope)