Forum > View Topic (Hot-Chart)
by Ashraf Laidi
Posted: Feb 25, 2010 18:11
Comments: 168
View Hot-Chart
This thread was started in response to the Hot-Chart:

AUDNZD Looking for a Turn

 
wolf
Australia
Posted Anonymously
15 years ago
Mar 2, 2010 8:27
its difficult to trade these pairs with stops less than 100 pips, all trades need some room to move, thats why its best to trade these with less leverage. it'l take more than a 25 bp rate rise to lift this pair out of its range. im looking at levels not individual candles and 1.2950-1.30 is a large level. short at 1.2935,
Pipster
birmingham, UK
Posts: 111
15 years ago
Mar 1, 2010 18:24
T4

That is true, with what the candle shows. You must also bear in mind that the AUD is often pushed higher prior to a rate decision, and more often than not the price does come down.

Even though Ashraf bearish, you need to make your own decision on when to enter and how much you are willing to risk.

In hindsight I am short at the lower levels and it haspullback significantly. However I will give it until Tuesday/Wednesday and see what happens. Good Luck
t4fast
Oman
Posted Anonymously
15 years ago
Mar 1, 2010 18:16
26-Feb-2010 candle suggests a strong support at level of 1.2750; I'm against selling. (sorry about the other posts !)
t4fast
Muscat, Oman
Posts: 2
15 years ago
Mar 1, 2010 18:14
Yesterdays = Last Candle of the past week!
t4fast
Muscat, Oman
Posts: 2
15 years ago
Mar 1, 2010 18:11
Yesterdays candle suggest a strong support at level of 1.2750; I'm against buying.
Pipster
birmingham, UK
Posts: 111
15 years ago
Mar 1, 2010 16:18
Peggy,

I am waiting for the extreme pullbacks and will be shorting heavily. Hopefullyweshould see some movement onTuesday after the rate decision. Thisonea real bugger. Its had me on my knees :)
coolshades
UK
Posts: 53
15 years ago
Mar 1, 2010 14:14
Peggy,

my audnzd short at 1.28 stopped out, however i will re-enter a short once price reaches 1.29. I think Ashraf expects everyone to trade everyone sensibly using stops in line with their risk profile. :)
PippedOff
Canada
Posted Anonymously
15 years ago
Mar 1, 2010 12:35
Unbelievable: one of my trading platforms has a 20-pip spread on AUDNZD.

My other one has an 8-1/2 pip spread.

Hoping for 1.2910 on this pick for a short. May need the Westpac WETHERMAN HOMER analysts to come out early-Asia today (8-10 hours from now) in Sydney to do their dance and POUND the table on Aussie pre-RBA.
Peggy
California, United States
Posted Anonymously
15 years ago
Mar 1, 2010 11:41
@ Pipster: After looking at the daily chart and reading Ashraf's own comments, it seems the AUDNZD might take quite a bit of time to turn around. Do you plan to hold your short for a week or more?
Pipster
birmingham, UK
Posts: 111
15 years ago
Mar 1, 2010 10:39
I didn't know AuD/NZD was this volatile. Its gone up quite a bit. A real test of nerves, but Ashraf has made the call and that's what keeps mein until otherwise. Need some words of confidence here guys