What made those fairly large SPIKES today at 0530GMT Asian Sessions?

[RahmanSL]

I am completely out of the AUD/USD as I really don't know what to make of market direction...When I am uncertain, I simple don't trade it.

However, I have maintained one 2.0 lot size short position on the EUR/USD from 1.3292
It is in pretty big profits right now as I post, but I am quite determined to let that ride down to the 1.0000 level which I am convinced will happen within the next 3 - 6 months....i.e as long as the pair doesn't go past that 1.3292 level in which case I will open another position at the higher level and close out the first one when it's in profit.

I am still maintaining that short position on NZD/ZAR as it's still in loss but with accumulated swap fee. Will decide whether to close that out when it gets into profit...or I might just let that ride for the swap

I am short on a couple positions on Gold & one in silver today in Asian session as, from what I have observed, these metals normally goes high during the Asian session and falls during or closed to the European session.

I did apply trailing stop to some of my EUR/USD yesterday, but closed out these positions before the TS got a chance to work its magic...plus I wanted to add more equity into my account with those additional profitable EUR/USD positions since I only want to maintain 1 short position on that pair for the expected long haul down to the 1.1000 level.

 

[Pharaoh]

Let me know the moment that long haul begins. I'd hate to tie up equity waiting.

 

[RahmanSL]

The "long haul" process has already been initiated since Tuesday...Shorted EUR/USD 2.0 lot size at 1.3292....and shall run to (if TP set at 1.1000 not triggered within that time) August 2012....or a higher currencies level present itself in which case that higher level will be shorted and "long haul" time frame readjusted accordingly.

That "long haul" short position represent around 1.2% of equity and so should not jeopardize the account.

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Looking at today's charts, I don't know where in hell market is heading....think I will sit on my hands for now and do some real honest to goodness work (as in work)....at least until the European session begins.

 

[AsstModerator]

I'm glad my AUDCAD missed its stoploss. It got close a few times, but pulled up nicely.

 

[RahmanSL]

Yes, indeed, I see your AUD/CAD did pull up quite nicely

Well, my "long hauler" went off the cliff and I was forced to cut my losses ...now looking to get in at the 1.349 or 1.35 level if that does come up....but with anti gravity Euro, it probably will do just that.

Been too tied up in my new project works and could hardly trade at all....which is just as well coz I would make regrettable and costly mistakes anywhere. So, I have set pending sell orders for 1.3495 and 1.3500 and check back to see whether they are triggered.

 

[Pharaoh]

My AUDUSD long is very happy now. Go Kangaroo money!

Now if only Australia would hike that interest rate to increase the positive swap.

 

[RahmanSL]

I see...at least two traders are making money from the AUD.

For high positive swap, simply catch the EUR/RUB on the high side and short it for usd22.07 swap...or USD/RUB for usd23.04 swap...or EUR/MXN for usd10.04...or USD/MXN for usd9.98 swap

As for the AUD/USD, I would think the interest rate is more likely to be decrease then increase.

Shucks! The Euro sure is feisty and defying gravity. Wonder who is pulling the string and flying it?????????

 

[Pharaoh]

Shucks! The Euro sure is feisty and defying gravity. Wonder who is pulling the string and flying it?????????

I just want 10 minutes warning before the string snaps.