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Thread: AUD.NZD

  1. #181
    Legend peat's Avatar
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    well I've actually put the money where the mouth is on this just now. Shorted it in demo last night - watched that bounce around today... but have shorted 15k Aud/NZD at 1.1242 fo' real now.
    Not sure that my stop loss will be as large as posted above (1.1350), now I'm thinking that I wouldnt want it to go over 1.1270 at this stage as the major trend should start to show itself quickly if this is a true breakout.

  2. #182
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    sold another 15k at 1.1196

  3. #183
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    Aussie 1Q CPI Below Expectations; AUD/USD Falls

    Australian 1Q CPI surprisingly weak, up 0.1% on quarter vs +0.6% expected, up 2.4% on year vs +3.0% expected. Data diminish rate hike expectations ahead of May 1 RBA meeting. Australian dollar tumbles...

    Cross now at 1.1146

  4. #184
    Legend peat's Avatar
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    Well this trade all closed now, unfortunately only slightly better than break even. Yesterdays behaviour of correction was fairly expected tho at 1.1200 stretching things a bit, and even this mornings OCR increase didnt put things right soon enough with the spikes up hitting my stop.
    A little disappointed that I didnt capture the profits while they were available (greed?) but I had my original target (1.10) and I stuck to them. Maybe they will still be hit eventually.

    later ..... now at 1.1150 well I need to move on , but this is burnin my A.S.S.

    seems to be a feature of my trading that even when I get it right I dont bank the pips. hmmmmmmmmmm

  5. #185
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    Hi Peat at least you got the move right,way I tend to look at it is that there are always trades,so once you are in the money run fairly tightly behind it,ie as it moves move your stop up behind it,sometimes will be too tight other times you end up banking more if it turns the other way.

    The exception would be playing a long move,say a week or more,also I try to stay flexible,as in pick a move but don't get stubborn about it,so if you are sitting there thinking it's turning take the money and run.

    Cheers
    Miner

  6. #186
    Legend peat's Avatar
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    cheers for the words miner
    yeh I was kinda in this for the long run - workin for a big target and , hence my tentativenss in moving the stops closer - especially with this cross the s/t volatility is fairly high.
    Shame to miss banking it tho coz I'd been eyeing the compression on this for months and with a 12 pip stop its not somethin to scalp at too much.

    Always another day tho!!

  7. #187
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    Morning Peat I have been to busy to play for a while but just looking at usd/jpy and eur/jpy on the daily and they have both given nice "U" trades,doing the what I call back to test theory.

    Thinking of your trade,if you had put a stop just above where you went short so when it came back to test it you stay in,as in it tests it then heads back down the way you picked?.

    looking for back to test patterns on all my time frames works well for me.

    Cheers
    Miner

  8. #188
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    you are aboslutely right about the back to test movement - thats where a bit of intestinal fortitude (guts) is required

  9. #189
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    quote:Originally posted by peat

    I am thinking a good strategy would be to sell into 1.1250 stop loss 100. supposedly the target 1.09 but 1.1 might leave some for the next guy
    1.0975 was eventually reached , but wouldve needed 150 pip stop.

  10. #190
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    text book butterfly set up ,i have been watching and trading this one for a while ,the price seems to gravitate towards that potential reversal zone, anyone got any thoughts on this one

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