all the little ants are MARCHing....forex

I dont know how AU getting stronger when countries that take bulk of the exports are reporting record slow downs in growth,production etc....

I did notice though that one of the trading instructors at another site is also short AU....hes staying in until we see a daily close above 9043....guess ill just follow his lead for now...

I cant bailing on this trade though looking at a longer chart the all time high is only 98..the RSI on the monthly is already over 90 so how far can it really run here b4 we see some pullback???

THoughts on a top here WALL?

buck,

To me the AU is the strongest counter US trade out there..if the US markets are up then the AU will be leading higher, add that they are the main risk trade beneficiary, it is a TOUGH trade to fight..which is why I dont like to go against it.

Now you will need the USM to reverse today or a day in the future for the trade to work out..anything short of the USM going down, I dont see it being a trade you enjoy.

I hate to say you told me so....but man this is total SHIT....no more trade for me until i can get one of these off my back...

GL boys

buck,

Trust me I am not happy seeing you in the red on that trade.

You need a few days of heavy selling to push the AU lower, the USM has been on quite the roll..more than I ever expected.

Itll work out just gonna put me on the sideline for now no BIGGIE...

Are you short the AU or long the EU/AU?

Sorry Wall had a few buds while watching the Cavs game didnt check the thread after my post...im short AU/$ and could kick myself for not getting two more when i was down 100 pips....twice now i coulda been out with good profit....

I understand that.

I got within less than 5 pips of averaging down on my LB.Yen trade and it would be profitable now too..

BIG spike in the LB and EU pairs here the last hour.

descending head and shoulders pattern on AU...it falls apart tomorrow im willing to bet on it...also will add to my USD/JPY position on any dip below 8875 ive wimped out and should have been outta these two trades..I want to see the close in EU...if it closes soft tomorrow..."ITS OVER JOHNNY"

What do you mean, are you going to bail on the EU trade?

The USM has been carrying the AU for over a week..you need the markets to crack and cash that trade.

im not going to bail will just not be a position i add to until i see the bottom...........if AU coming down means USM has to come down then thats how its gotta be.........hoping for a surprise NFP and its on like donkey kong

I dont see how they are going to let payrolls be bad..we are near a top here and if they fudge them tomorrow we will probably go to SPX highs, I would be shocked if the numbers werent a meet or beat.

Just got out of JPY with good $$$$$$....bought one lot just b4 release....now i need AU to move for me and ill just have EU to deal with

Shocking..

Payrolls needed to be good and they were.

Its almost like a script.

Out of Lb.Yen, ended up making 125 pips after a few averages.

Now flat..amazingly.

nice Wall

Short Lb.Yen at 136.60 (early) looking for 50.

Well AU is going back to 9250...EUR higher this coming week as well

I see everybody buying GBP/$........i dont see it....looking for it to reach 154 in coming days...

Wall,Rick ,Pop anybody like this trade?

buck,

Its all about the risk trade and the further that Europe gets away from the Greece-style issues the higher the LB and EU will go, which is what you want..

You want that EU at 1.40 and higher..

I added to my LB short at 137.30

i got some outta GBP........not as much as i couldve but thats how i roll

Why didnt i just jump outta AUD and go long when i had the chance

Covered my LB.Yen short thanks to Greece complaining..

Netted about 170 pips on that trade.

I have been long Gbp/Usd and it is trying my patience.  It looks like it keeps wanting to break up still oversold, ADX flat lining above 35

DMI looking at each other but picking up no real ground.

rick,

The LB is in a tough spot..every time Greece or the EU make comments it seems to send the LB and the EU into the crapper, I am ticked that I missed a long Lb.Yen though..I just keep thinking that this market will not go up 90% of the time forever..so the risk trade is getting risker and riskier.

I didnt like this trade[GBP] to start the week and shouldve sold the pair...good for 150 or so to this point...just seems when you see everybody on the same side its the wrong one...kinda like the SSI reading