EUR/AUD

Discussion in 'Forex Trading' started by romik, Dec 18, 2006.

  1. romik

    romik

    Looking to sell EUR/AUD here, shopping for an entry level off 5 min TF, reason for a short a triple A-class bearish divergence seen on the 240 chart, a little late to the party (as always), but see quite a bit more downside.
     
  2. romik

    romik

    Short 1/2 position @ 1.6731
     
  3. nice chart
     
  4. romik

    romik

    will you be joining me? :)
     
  5. I've been joining you since late October! This is a pair I've been holding a while because of the interest and the belief to go lower.
     
  6. romik

    romik

    I don't understand interest studies, have you been taking heat or placing shorts close to resistance with relatively narrow stops in an attempt to nail the move?
     
  7. Actually, was a typo. I was short since late November, not October. Short at the resistance of 1.69. I'm not taking heat, I'm gaining the carry.
     
  8. romik

    romik

    So far bullish attempts have failed today. I like that.
     
  9. Be honest guys, do you kinda "stumble" into these crosses because of missed calls in the majors, use of hedges as opposed to stops, etc? Or do you actually have a thesis about how aussie commodities will out/underperform eurozone economies or some line like that?

    It's probably just me, since I can't trade these for sh*t :) But I usually find that if you can make the right call on euro movement, you're usually better off playing it straight up. Meaning, if you're gonna be right on a cross, you'll need the eurino to agree with your timing, and by then you're better off just holding vs usd.

    Don't bite my head off, just an opnion.
     
  10. romik

    romik

    My decision is based on a triple bearish divergence, what is important to note is that, in my experience, on quite a few occasions whenever there is a proven well-known-used entry signal, it is followed by a fake move in the opposite direction of the entry signal, therefore I would either enter partial size when the signal presents itself and either average down till your max risk has been reached according to S/R levels or add on strength, the latter I am not very comfortable with, but still experimenting with it.
     
    #10     Dec 18, 2006