Long AUDUSD

[EuroTradeFinancial]

Long: .7140
Stop: .7100
Expecting: .7250

[redsheetz]

a 40 pip stop loss is pretty hardcore

[wolf825]

I like the AUD USD pair..add in NZD too.. I like them especially on non-news days and days the NY sessions are slow. They got beat down hard lately...Gold was falling and so were they in stride...so a % retrace is inevitable being so oversold. FYI--We have Retail Sales News tonite out on AUD...

Originally Posted by redsheetz

a 40 pip stop loss is pretty hardcore

...that depends IMO....but folks have to put in a stop they are comfy with. I mean for whatever its worth, for me my SL's are usually between 25-50 pips spread, depending on the volitility I think the trade will be suceptable to (i.e. news etc)..or the spread of the pair. I mean GBP/JPY typically has a 9-10 pip spread on the trade (not like the Majors which will have only 2-4 pips depending on broker) to begin with. So for that pair that already has a spread of 10 pips, IMO to set anything less than a 40-50 pip spread will usually knock you out before it reaches the target.. Not that bad risk when you consider when that pair wants to move it can run for 100 or more pips easy quite quickly... JMO...

Also heads up since I don't feel like starting a new thread--Eyes on JPY this evening--especially with the JPY crosses...lots of news out for JPY tonite---Housing and CPI news out tonite and more...and JPY is in need of some news...

-w

[EuroTradeFinancial]

Yes, we have Retail Sales coming out at 00:30 GMT for the AUD. I will be watching my position closely.

As for Tokyo, it may be indeed a wild night. I will be monitoring the screens for overbought/oversold situations, maybe even play the waves if they are not to choppy.

[mister_doodi]

I don't like how NZD is forming it's ADX line on the daily. Making a flat horizontal line at the top instead of going down when it reaches it's peak, like the AUD, means it will have flat rate of growth or will take much more time before it takes off. AUD on the other hand looks really good. Doodi wonders what made EuroTrade think AUD has bottomed?

[EuroTradeFinancial]

Originally Posted by redsheetz

a 40 pip stop loss is pretty hardcore

Redsheetz, hour 00:00 GMT on 3/31 is a perfect example why I trade with such stop-losses.

I ususally never set them more than 50 pips.

[EuroTradeFinancial]

Originally Posted by mister_doodi

I don't like how NZD is forming it's ADX line on the daily. Making a flat horizontal line at the top instead of going down when it reaches it's peak, like the AUD, means it will have flat rate of growth or will take much more time before it takes off. AUD on the other hand looks really good. Doodi wonders what made EuroTrade think AUD has bottomed?

EuroTrade Financial believes it droped it to fast in to little time. All my EMA's are moving north. I estimate an easy locked in 50 pips out of this by Monday.

[EuroTradeFinancial]

Originally Posted by EuroTradeFinancial

Long: .7140
Stop: .7100
Expecting: .7250

Long: .7140
Stop: .7125
Expecting: .7250

[BadarZ]

Can someone please post a historical chart on AUDUSD (6 months or a Year). I'm not sure where to get historical charts on forex.

[EuroTradeFinancial]

http://www.refcofx.com/financechartd...symbol=AUD/USD

Just configure it to your criteria.

Well I got stopped out over night, but no big deal. I don't trade forex to make 15 pips, I trade to make at least 50.