AUDUSD March 15, Super Sell!

What more can I say except wow when it comes to this trade, just so simple using the TOP TREND method which is is my opinion better than Chandelier stops due to them also acting as trend lines of sorts visually helping you understand the direction of trends, but what is most important is to identify short term retracements, buy high, sell low, vice versa, and make sure you get in near the tops of swings not the bottoms, you’ll be much happier in this market.  I don’t put 100% faith or my system in one indicator but combined with volume indicators, knowing the trend is changing and picking up it helps as you can see below, price just moves sideways, you can draw a trend line above or below and sell the breakout which occurs at the same time the Heiken Ashi bars change to red, and the top trend indicator changes to red.

But to the matter at hand, AUDUSD was just simply an easy trade this morning, knowing that it was being sold en masse almost vs other majors I expected a move down, but nothing this intense.  At 2:15AM the top trend indicator is violated and I short and it goes down an incredible amount, getting out at the second circle which turned out to be another good entry point but the pair had been see-sawing around 1.000 for so long I just didn’t expect the reversal of AUDUSD to happen today, if that is what’s happening here.

Does anyone else see this as a reversal of AUDUSD or just a correction for another move higher?

AUDUSD March 11 – Wacky Friday Trading

AUDUSD is another pair I had an good chart prepared for, went to sleep, woke up and was in the stratosphere again, over 150 pips up from todays low!  So in chart one we see a large decline on AUDUS all day yesterday and today until chart two when news obviously came out affecting USD against many pairs.

But as you can see within a few short hours, days of declines were wiped out and AUDUSD is approaching 1.02 again; so for next week will we see continued buying in this pair? Your guess is as good as mine.

So, EURUSD and AUDUSD made an almost identical decline the past few days and an identical reversal on late Friday. Food for thought.

Dollar Reaches Parity with Aussie Today

AUDUSD is another pair I have been so hesitant to buy because for weeks we’ve seen AUDUSD try to make new highs above 1.02 but rejected almost every time with alot of force.

So today, the only news out of Australia seems to be the PM’s firm commitment to stand with business ties to the United States, driving their currency down even further.  We all know of Australia being one of the only companies in the region to be able to mine for rare earth elements where the US can presently not.  AUDUSD also made a similar decline today with the decline of the price of USD/GOLD, so as you can see the mining correlation between this currency (AUD) is still quite strong.

As for the AUDUSD itself, it is a clear cut down trend after trendline is penetrated late last night and we have a few different areas for entries.

March 8 AUD USD Going Down Some More?

It’s hard to assess where the pair is going based on the fundamentals and technical analysis before us, but we seem to have run out of buyers for the moment, I am looking to short this pair as soon as a few things line up on my charts. Here’s what I’m looking at now:

AUDUSD week ending March 4

AUDUSD impressed me today by clearing all stops heading back toward 1.02  again, but the force of the move is what surprised me, just pure volatility up and down today, friday trading for sure, but we keep seeing AUD making runs higher on the USD more so than not so take from this what you will.