Thread: AUDUSD Trading Pit

Originally Posted by ;

quote Great post. This is what I love about fx trading, knowing, and study of underlying economic conditions that influence the market. I watched an interview a week or so ago on http://www.bloomberg.com/news/articl...r-than-revival concerning the brief term Chinese stimulation and the temporary demand on steel, for Government projects. My prediction for the aussie is the monthly to shut .73000. We have 9 trading days lets see how it goes.

Hi Paul , I have been on here a lot over the years and I have seen people say don't trade news don't trade this and the other , I get a lot of information I put into trades such as aud/usd aud/gbp and've been successful over the years just doing this like you say becoming aware in advance is a key

Originally Posted by ;

quote It did but today its recovering.Next in line is Aussie rate cut which is coming.Last thing RBA wants is having most powerful currency in the area on expense of fragile economy. They need Aussie in .65 therefore 76 is overkill. Please look at the chart since rate spike it dropped 153pips!

It's a pullback not a correction. Fibonnaci drawn on the charts. See where it has picked support. 61.8% retracement. The upmove is on and it depends on the kiwi than the aussie. Kiwi is a tumbling currency and its prospects are a lot worse than aussie. It greatly depends upon china and china stock markets has more or less peaked out.

Originally Posted by ;

quote it is a pullback a correction. Fibonnaci drawn on the weekly charts. See where it has chosen support. 61.8% retracement. The upmove is still on and it depends more so about the kiwi than the aussie. Kiwi is a tumbling currency and its prospects are a lot worse than aussie. It greatly depends on china and china stock markets has significantly more or less peaked out. picture

Well you don't know whether its pull back or correction.What begins as pull back might turn into full fledged swing and trend reversal.
Check out UC to get an idea.
Look it does not matter if you agree or disagree I have 8positions shorting this so shouldn't matter to you personally.
Your reasoning is so gloomy....well China things even more to Australia although not likely to dwell here.I remember I had you discount and looks as though I might wind up doing it.

Originally Posted by ;

quote You do not know if its pull back or correction.What starts as pull back turned into complete fledg swing and trend reversal. Check out UC to get an idea. Look it doesn't matter if you agree or disagree I have 8positions shorting this should not matter to you personally.

Great fortune. I am kiwi

Originally Posted by ;

quote it's a pullback not a correction. Fibonnaci drawn on the weekly charts. See where it has chosen support. 61.8% retracement. The upmove remains on and it depends more so about the kiwi compared to the aussie. Kiwi is a tumbling currency and its prospects are a lot worse compared to aussie. It greatly depends upon china and china stock markets has more or less peaked out. picture

I concur with you. I believe technically its a monthly pullback.

I posted this on another thread.

I like to exchange keeping fundamentals in your mind but as of late as everyone is able to see the AUD is trending contrary to fundamentals.

On the charts what you're seeing is a pullback/correction about the monthly.

Since the start of the down trend (march 2013) after each huge drop the aud retracted around 600 to 800 pips, always to the previous support level using a monthly candle of around 500 pips then back down again. The current retractment is 750 pips.

The 1st fall (from the peaks) 1700 pips, 2nd 1100 pips, 3rd 1900 pips and the last 1200 pips. If the pattern continues and based in which the current price holds we could maintain another fall of around 1800pips that will bring us to around the .60 degree.

When the economy is flourishing we get climbing share prices, increasing commodity prices, increasing overseas investment and reserves, simpler and larger flow of money , increasing interest rates, increasing dollar, until we achieve a summit.

#8203;Then we get a contraction and a recession, the reverse happens.

We are in the current stage just before a recession, we have to have the falling real estate values and when this happen we are there.

When the recession has bottomed out this will bring rise to a restoration and growth, the cycle repeats itself.

I dont believe we are yet to find the base of the cycle.

#8203;This morning the aud jumped up over 100pip. This had nothing to do with aud strength but fundamentals of the US Federal Reserve.

#8203;C-Trader opinion remains 75% short

1 Attachment(s) This thread is open for AUDUSD related interactive commerce talks.
No particular rules; only mutual tolerance and respect among members requested.
Braggers are welcome under one condition: Please have the courtesy of posting a chart together with open/closed positions.
Let us exchange our favorite pair and have fun.
Happy pipping


https://www.nigeriaforextrading.com/...l-traders.html