only tough level i am seeing to the upside is previous resistance at 7385. i am waiting to see what us data will offer. thinking it will take us closer to 7385.

AUDUSD Trading Pit

shorting au has been fun lately, mate

AUDUSD Trading Pit

no question here. this was an excellent run, no matter what bullshitters say.

turned 1K to 4.5K in a week with 4% drawdown

so far not a single sign of reversal... bull still can squeeze more pips out of this. but i just can't buy here. holding shorts with av pos.7320

AUDUSD Trading Pit

i see. so what do you think went wrong with his trading if he was perfectly hedging and always profitable

turned 1K to 4.5K in a week with 4% drawdown

depending on market conditions i also trade w/o sl. this is usually during a well established range or when caught in a bounce/retracement. at times when like today with au - strong directional move, i prefer using sl. however every time, my next ...

AUDUSD Trading Pit

do you mean trading with sl?

AUDUSD Trading Pit

grrreat. lost another 20 pips. au on steroids. re-entered more short around 7317 and sell order at 7368.

AUDUSD Trading Pit

how much does he owe you

turned 1K to 4.5K in a week with 4% drawdown

a nice article for those interested: url

AUDUSD Trading Pit

amen, bro (no offense to bull)

AUDUSD Trading Pit

so now the question is if this is a real breakout with first target of 7300 or just a "stop hunt" or "fakey" my shorts with average position of around 7230 stopped out but re-entered at 7264.

AUDUSD Trading Pit

i understand where you are coming from Samer. we use those terms just to explain the PA and express our thoughts. these terms are easier to communicate

AUDUSD Trading Pit

i think we just had a break out

AUDUSD Trading Pit

looks like triple top at this moment. want to see how 1h will close

AUDUSD Trading Pit

yes please close those au longs, maybe that is why it keeps hitting the roof. bear also need to make some money buddy

AUDUSD Trading Pit

this is what pissing me off. lol we are back to above 7230 again. i think we definitely need a surprise nfp to get out of this damn range

AUDUSD Trading Pit

cable is an interesting pair to trade. speaking about gbp, pound/aussie may offer some good trading opportunities in coming weeks

AUDUSD Trading Pit

longs have been paying well, have to say but i am seeing some exhaustion at the tops. do not know if this is valid.

AUDUSD Trading Pit

indeed, trading au has been little tricky. i tried to position myself for longer term (more from short side) but price keeps coming back with no clear direction. now for some time we are in a range between 7100 and 7260. swing trading would have ...

AUDUSD Trading Pit