I am posting a chart here of the weekly Aussie Futures. Longer term downside is still more probable than upside, but this trade is underperforming my other currency futures shorts. In fact Friday's settlement was .7505 which only has my second leg (where I rolled into Dec) at a 10 pip profit. (I took 122 pips profit in the Sept Contract and then rolled the short into Dec). Right now, with the strong weekly closing, it appears that the market is just coiling. I have decided to look at stepping aside for a bit. What I will do is watch the 60 minute chart which has some short bias to right now, and if the short bias does not continue, I will get out. Comments Welcome.
Aud/usd
- Thread starter BigFunky
- Start date
I am posting a chart here of the weekly Aussie Futures. Longer term downside is still more probable than upside, but this trade is underperforming my other currency futures shorts. In fact Friday's settlement was .7505 which only has my second leg (where I rolled into Dec) at a 10 pip profit. (I took 122 pips profit in the Sept Contract and then rolled the short into Dec). Right now, with the strong weekly closing, it appears that the market is just coiling. I have decided to look at stepping aside for a bit. What I will do is watch the 60 minute chart which has some short bias to right now, and if the short bias does not continue, I will get out. Comments Welcome.
Hello Buy1Sell2
The monthly term based on the Ichimoku system chart has given a max of around 2500 pips for longer term holders since the break in 2002.
These are my thoughts for the future...........
In the medium term I feel a significant break higher out of the Symmetrical Triangle could be on the cards. This break will test the old highs and move further north. Currently AUD is in a consolidation phase/coil waiting for a breakout.
Cloud and MacD appear currently supportive, with the possibility of this consolidation forming a 3-4 wave.
regards - arco
The monthly term based on the Ichimoku system chart has given a max of around 2500 pips for longer term holders since the break in 2002.
These are my thoughts for the future...........
In the medium term I feel a significant break higher out of the Symmetrical Triangle could be on the cards. This break will test the old highs and move further north. Currently AUD is in a consolidation phase/coil waiting for a breakout.
Cloud and MacD appear currently supportive, with the possibility of this consolidation forming a 3-4 wave.
regards - arco
I've gone short now that AUD/USD has hit the ceiling at just under 12 months highs.
Difficult to determine an appropriate t/p given that there is a rate announcement in 12 hours.
I'm currently of the opinion that the "likely" rate hike has already been priced into this pair.
But I'll wait and see what happens.
Difficult to determine an appropriate t/p given that there is a rate announcement in 12 hours.
I'm currently of the opinion that the "likely" rate hike has already been priced into this pair.
But I'll wait and see what happens.
Guys, I'm likely moving to Sydney in a month or two, for one to three years, and I'm starting to bone up on the currency down there in case I want to hedge my US assets converting into AU$. (I speculate in currency futures a little bit, usually with options.) Question: aRe there any good sites, magzines, research firms that produce decent reports on US/AU or vice versa?
For now, gold has little to resist from here to the 690/700 range, meaning AUS front month future should pierce .7900 with conviction. I'll short the AUS front month at .7900 and better, averaging in up to five contracts from .7900 to .7930. Those prices should obtain today (Europe Friday) or within a couple of sessions after today.
If the trade is made, I'll use a stop 55 ticks from last short, meaning .7985 if shorted at .7930. See potential for 125 ticks before December expiry. Chief reason: gold will fail dramatically at about 700, or as it approaches that level.
If the trade is made, I'll use a stop 55 ticks from last short, meaning .7985 if shorted at .7930. See potential for 125 ticks before December expiry. Chief reason: gold will fail dramatically at about 700, or as it approaches that level.