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A $AUDNZD trade

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I received a couple of tweets asking about AUDNZD. The question is summarized : Is it UP or Down? or Bullish or Bearish? As usual, I don’t answer this type of question. If you have been trading for sometime, you know why I do not answer these questions.

Have a look at AUDNZD daily chart, it is not hard to see why I am interested in getting into short position. There are mountains ahead in the bigger time frame, such as daily. Experience told me there should be some opportunities for the pair to be stopped, retraced before it actually tries to break through.  In addition, I am also holding Long position of NZDUSD.  Of course, this analysis can be very wrong at times, but, who knows in definite the pair is going UP or Down? Get yourself out quickly when it is wrong.

Anyway, I shorted AUDNZD slightly below 1.29 level and looking at  mid1.27ish zone as target. I have taken some profit off the table and moved stop to break even before the market closed for weekend.

Next week I will be looking to buy some AUDNZD if it manages to hold it well around 1.27-ish zone.

Here are the daily and 4-hour CHARTS.  (Click on the chart to view full chart)

$USDCAD,I am not so sure about..

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I have been trading the whole week, and still holding half position of EURGBP long. I just did not find time to write anything here. There are just too many things to think and handle outside my trading life recently. A little bit stress is building up… Anyway, that’s not the point of this post.

AUDUSD and AUDJPY start to confuse me now. I can’t see the clear picture, so I will leave them alone for now. Some of you might argue USDCAD is back to buy zone again. Well, this time, I am not so sure. I am not sure if we should jump in now. It does not convince me so much. Instead, we might see a run to mid 1.02-ish. Well, who knows? Let’s see.

Here is the CHART!!!

Chart of the moment: $AUDJPY 09-Feb-2010

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I am still trading and watching the markets. However, I didn’t find anything interesting to post on the blog, that explains why the lack of post last week. However, you can always follow my tweets.

Anyway, I tweeted yesterday about going Long with AUDUSD and AUDJPY. I am still holding the positions. Here is the chart of AUDJPY.  Do you see something interesting here? As usual, I love to go in to test the support zone. Let’s see.

What do you think?

Is it time now? A look at GOLD ($XAU)

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I exited my AUDUSD long position earlier today with small loss. The entry was too early. However, I am still looking to build long positions of AUD, NZD and CAD (by Short USDCAD). Let’s see how this strategy works out. Basically, my approach is to test the market, if it does not work out, I run, building another position. No scalping though. OK, I am talking too much now.

I had a look at GOLD. This is another reason I am interested in building long positions of commodities currencies. Well, though this is not the only factor. Take a look at Daily and 4-hr, what do you see? Is it going to break or bounce?

Here is the chart (click to view full chart)

Here are some technical figures:

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$NZDUSD :Catching the falling knife?

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I start to buy some Aussie dollar and looking to buy Kiwi dollar soon. Oh well, you can say I am catching the falling knives. So what? What would be the worst case if I am wrong? Got stopped out, that’s it. What so tough about that? 🙂

Anyway, here is 4-hr chart of NZDUSD. I am looking at few touches of the support zone, and start buying some to test the support. Let’s see.