Doomberg's back... long "again" this time AUD/USD

[Forexmospherian]

Morning Doomberg

AU - Yes it dropped under 52 and then 40 and under 35 and 25 was still scalp sell land for me during Asian session. I was not trading the session - but noticed the low at 8920 was another HL and then once we got over 35 and 45 - back in scalp buy land ;-)

Trouble is now - no over 65 and 70 yet. We need to see these prices to give any clues it might be worth holding or taking more buys.

Present range for opens - 62 - 46 - 16 pips - not scalping it now as had taken a scalp sell under 56 but had to pull with just 3 pips ;-)

So really buys over 45 still and sells under 70 - until one properly breaks

Will update a few times in the day

Regards

F

 

[Forexmospherian]

Shame with AU - Now gone 9.00am UK time- we have one HL at 8920 - so in scalp theory we should be buying above there and then LH's under 70 saying sell - Last one at 55 and that was then scalp sell at 53 and you can hold under 39.

if we do carry on falling under 55 and 39 then 8920 + needs to hold for any chance in next few hrs to try over 8970 and higher

GL

 

[Forexmospherian]

With AU losing its bullishness atm - EA is trying up above 76 scalp buy - need over 83 to hold any part on

 

[darktone]

So whats next then Doom?

 

[Doomberg]

Just to keep you updated guys, i'm still in the game with all 3 positions.... i moved all the stops to 18 before i went to sleep last night (lucky as it dipped to 20). I also opened another position, however i made a silly mistake and bought the July 14 futures contract which on IG had a 12 point spread so i was at a loss on that position as soon as i opened it and it's fallen since then, i'm hoping / waiting for a break up past 9000, and that this will be new support, sending this pair in to the stratosphere

arty::drunk::cheers:

 

[Forexmospherian]

Midday AU update. - Price at 8926 low and 29/30 is scalp buy - also with AU now trying to find support and rise again above 20 - then EA might have topped for now and is a scalp sell under 5440

GL

 

[Forexmospherian]

One hr later and AU made another LH at 8952 - so back into range of say 55 to 25 and awaiting the US to come on board now - and to see what they may have up their sleave. Will we just get one false move - up or down or will we get the full double whammy - with the market trying to fry both bulls and bears ??

No clues of either yet ;-)

 

[Forexmospherian]

3.30pm UK time and broke back up over 45 so more scalp buys and now at 8965 - critical area again

Can we break up above 70 or 75 - or is it back to sells again within next 15 -30 mins ??

Don't know yet - will do soon ;-)

 

[Doomberg]

Ok guys i stood by my guns, i'm still holding my full position which is £50 a point on a long. Right now would be a good time to cash in, however i feel that this wants to reach 9000. And if it breaks through 9000 and then struggles to get back down below this level, it could be a lovely long term trade.

For anyone who is interested, i'll keep you updated :clover:

 

[Forexmospherian]

Ok guys i stood by my guns, i'm still holding my full position which is £50 a point on a long. Right now would be a good time to cash in, however i feel that this wants to reach 9000. And if it breaks through 9000 and then struggles to get back down below this level, it could be a lovely long term trade.

For anyone who is interested, i'll keep you updated :clover:

Good for you D - and I really hope we do break above 75 and try 9000+

I know we are all different as traders - but I would keep banking and then placing more buys above then 25 - 35 - 40 area - and even 8915 if you feel that this trade as you name written all over it - for YOU ;-)

I am still trading both ways and still expect some false set up before a proper direction.

Every trade for me is than 1 pip spread and even if I take 3 - 5 trades a day on the AU - I can still probably make an extra 20 -40 pips on the additional trades

Also if you are worried about missing out on a quick run up get a pending buy over 77 and even 86 etc

I am sure it will make a nice Christmas present - so all the best

Regards

F

 

[Doomberg]

Thanks buddy, i hope 8950 is new support on the short term as it still needs to breakout properly

 

[Forexmospherian]

Yes would agree with you

Here's one of my scalping charts attached from European Open for today ( it should give you a laugh ;-) ) - but it works and i would agree we need a proper break up and not back into the mix again

I see tomorrow evening some Aussie news and I think the PM is speaking again - that could be very bearish ;-((

Regards

F

 

[Doomberg]

What do you use to check your news mate?

 

[Forexmospherian]

Normally Forex factory calender - but also did have an eye on Forex Live and also Bloomberg and Sky business news - but normally for my type of intraday trading - I just ignore all Fundi's and just want to know the times of any key main news events - so I can try and work out a "gameplan" before the players set it up ;-)

 

[Doomberg]

New trend being established?

 

[Forexmospherian]

New trend being established?

Hi D

Even got a head and shoulders on a 1 / 2 min charts. I would need now over 8953 and 58 to be back scalp buying for a go at the high again.

Under 8930 - mores scalp sell and in between 30 and say 55 - no man's land - a bermuda triangle ;-)

I still think would need under 8910 and 8888 to think its back to down trend and lower- but leaving nothing on overnight

GL

Regards

F

 

[Forexmospherian]

Morning Doomberg

Got a scalp sell on AU under 48 again this morning - we did a 32/3 low and now back in scalp buy in the bemuda triangle area of approx 30 to 50.

As we know need over 50+ to get back buying and under 30 then its how strong are the supports above 8900 ???

Have a good day and will update if we ever come out the BT ;-)

 

[Forexmospherian]

1.00 pm UK time and AU down at support area at 8916.

I can only really hold scalp buys over 24 now and under 22 still scalp sells. Notice 15 and 10 also further support areas - then 8900 and under there 8888.

Not around later on today - but if any of those supports do hold - you need price back over 24 - 35 and 50 to really now think another high over 70 is on

GL

 

[Forexmospherian]

Hi D

Don't know what your next plans are - but this is not over - until its over ;-)

Above 8895 its back to scalp buys - but as we know - we should stay below say 15 -20 or maybe 8825-30.

If any of these price get breached get your buying hat on again - but with out then over 70 - it just then might be back to sells for a good crack under 8880

What ever you do - Good Luck

Regards

F

 

[Atilla]

New trend being established?

Not a new trend but support is being tested around the 8800-9000 regions imo. If 8800s fail/doesn't hold I think 8680 followed by 8080

You have to watch gold with AUD as the currency gets a big lift from rising gold prices. Or as in our case falling gold prices and strengthening US economy and dollar.

Indicators turning in your favour but price is key. MACD and Stochastics can bump along for long periods and I wouldn't give them much weighting.

8880s good area to have a punt with a good SL.

Trend is still down imo and I'd favour 8680 being tested first.