Thread: Discuss the AUD/USD, NZD/USD , USD/CAD and more

Originally Posted by Mary R

In the state I live in Pennsylvania there were several public health clinics which had their medicaid reimbursements cut 15% in 2009 and they have not since increased the amount . In Arizona, medicaid will no longer cover organ transplants. In New York City, several public hospitals have closed due to lack of funding. In some other states amputees have had to return their artificial limbs so the states can sell them for cash. You don't always see it on a day to day basis unless you work in health care, but doctors are being trained how to cut costs everywhere - diabetics in hospitals and nursing homes are not getting their blood sugar tested as often, life saving medications are being denied by insurance companies. The ultimate result will be increased death rates among the poor, a trend which has been occurring for decades in the US but will accelerate unless current trends change. its very depressing, but the US has one of the worst health care systems in the developed world - far more of a long term threat to prosperity than anything else

That sounds awful. I cannot even imagine how one human being could tell another to return their prosthetic. I would beat him senseless with it instead. But at the end of the day, when somebody important gets seriously ill, they often go to the US for treatment. Including politicians from Canada, haha.
Oh well at least they solved all their problems in the EZ today everyone can sell their gold and usdcad now hehe

Originally Posted by SkiBunny

That sounds awful. I cannot even imagine how one human being could tell another to return their prosthetic. I would beat him senseless with it instead. But at the end of the day, when somebody important gets seriously ill, they often go to the US for treatment. Including politicians from Canada, haha.
Oh well at least they solved all their problems in the EZ today everyone can sell their gold and usdcad now hehe

Well that trend of coming to the US for health care has been reversing - more and more Americans are going overseas for health care. Hospitals in Thailand will do many procedures for 1/3 of the cost of American hospitals often with lower infection rates. The main exception is cancer - many people still do come to the US for cancer care, those who can afford it anyway.

I am thinking the risk rally we are seeing this week will present good short opportunities particularly for AUD and EUR. I missed the USDCAD rally, so I am thinking possibly a pullback to 1.02 or below might be an entry point. i am amazed at the momentum the USDCAD break had.

I am still favoring the short side on EURUSD, even if the Germans agree to put up another $500 billion euros to the Financial Stability Fund (not likely from what I read), I still think the ECB will lower rates, Mr. Trichet is going to have to stop the hysterics about price stability and get real about fixing their problems.

Originally Posted by Mary R

Well that trend of coming to the US for health care has been reversing - more and more Americans are going overseas for health care. Hospitals in Thailand will do many procedures for 1/3 of the cost of American hospitals often with lower infection rates. The main exception is cancer - many people still do come to the US for cancer care, those who can afford it anyway.

I am thinking the risk rally we are seeing this week will present good short opportunities particularly for AUD and EUR. I missed the USDCAD rally, so I am thinking possibly a pullback to 1.02 or below might be an entry point. i am amazed at the momentum the USDCAD break had.

Somebody here once observed that it tends to make sudden moves like that. While having lulled you to sleep. We saw that around xmas in the other direction.

The euros are good at dreaming up fancy-named bailout mechanisms but not so good at agreeing on how to fund them. They will probably squabble and underfund it and scare everyone again in the process. S&P500 still must test 1101, if not drop lower toward 1020. If it gets above 1200 again I will short it more. The commodity heavy TSX has been a much better short and still is because it was so much higher to start. Unfortunately it has not been nearly as easy as it was 3 years ago when you could just mindlessly pile on huge shorts and watch your profits go up in a straight line as things got pounded relentlessly. It may never be so easy again.

Hello,

I am new to the forum (but I have been trading for a while).

I am hoping to draw upon the experience and knowledge of everyone out there in finding answers to what I have experienced.

I have had an FXCM account for over 3 years and I am continually frustrated by a reoccurring problem. (I have also traded stocks for over 20 years and have never experienced this even once in the equity market)

Simply put, the currency pair reacts, (and reacts specifically and for the most part - negatively) to nearly every trade I make.

(I use the standard Trading Station platform and the situation descriptions are on the Marketscope 2.0 charts - specifically the Tick chart)

In general terms, there are 3 different aspects to the trade - the opening position, the close and
the wait in between.

When I place the opening trade, there is an immediate reaction... the currency moves substantially in the opposite direction. The same holds true when I close a position.
These aren't just small blips...often times it creates a complete reversal of half a cent or more.

I'd like to think that this is a natural result of the mechanics of trading. But what happens to me during the 'in-between period" has convinced me that there is more going on here.

When I take a position, that position immediately becomes a point of resistance, either to the upside or downside. I've taken positions in a currency and had it immediately move a half cent or more in the opposite direction, watched it then drift back to exactly my net position and instantly reverse course again.

Unfortunately these are not isolated cases. It's a frequent occurrence and the more I trade, the more it's happening. Its also happens more during periods of quieter trading. In fact, the only time I can make a profit is during high volatility/high volume activity.

There is much more I can add to this story, but I will start with this.

I greatly welcome any constructive response. And if anyone has any questions, please don't hesitate to ask.

Thank you in advance.



Trader Jack

YOU ARE A MARKET MOVER. BE PROUD OF THAT THAT.

Originally Posted by Trader Jack

Hello,

I am new to the forum (but I have been trading for a while).

I am hoping to draw upon the experience and knowledge of everyone out there in finding answers to what I have experienced.

I have had an FXCM account for over 3 years and I am continually frustrated by a reoccurring problem. (I have also traded stocks for over 20 years and have never experienced this even once in the equity market)

Simply put, the currency pair reacts, (and reacts specifically and for the most part - negatively) to nearly every trade I make.

(I use the standard Trading Station platform and the situation descriptions are on the Marketscope 2.0 charts - specifically the Tick chart)

In general terms, there are 3 different aspects to the trade - the opening position, the close and
the wait in between.

When I place the opening trade, there is an immediate reaction... the currency moves substantially in the opposite direction. The same holds true when I close a position.
These aren't just small blips...often times it creates a complete reversal of half a cent or more.

I'd like to think that this is a natural result of the mechanics of trading. But what happens to me during the 'in-between period" has convinced me that there is more going on here.

When I take a position, that position immediately becomes a point of resistance, either to the upside or downside. I've taken positions in a currency and had it immediately move a half cent or more in the opposite direction, watched it then drift back to exactly my net position and instantly reverse course again.

Unfortunately these are not isolated cases. It's a frequent occurrence and the more I trade, the more it's happening. Its also happens more during periods of quieter trading. In fact, the only time I can make a profit is during high volatility/high volume activity.

There is much more I can add to this story, but I will start with this.

I greatly welcome any constructive response. And if anyone has any questions, please don't hesitate to ask.

Thank you in advance.



Trader Jack

Hi Trader Jack. Been there done that. Hence my signature. How about posting a 30min & 5min chart so we can see what you are doing. Probably just a case of discipline. Something I learnt the hard way.

'Pip and Run' Trading Room Results: 3 Wins out of 3 Trades for +26.9 Pips- Initially, a slow and sluggish market gave way to some extreme volatility after after 7:00 AM ET on back of comments from the Austrian Finance minister that discussions will be held on Monday to expand EFSF fund through leverage.
As global stock indices were higher, it was a "Risk On" day and Euro an Aussie were the beneficiaries.


Join me and the other Pip and Runners for all the fun and excitement of live trading HERE at 6:00 ET/ 10:00 GMT!!
http://forexforums.dailyfx.com/6am-e...tml#post719803

Watch a Replay of today's Pip and Run Live Trading Session HERE

I have that happen a lot.
I can tell you that at one point I was suspicious of FXCM but than I started comparing my charts from FXCM against other providers I do not have an account with and determined them to be the same (reasonably close). Basically, I learned that I was selling at support and buying at resistance expecting the pair to go beyond those barriers. But it rarely did. Lately I have been only using about 20-30% of my account per trade and letting it ride as far as I am comfortable with, for me and against me. Using very little of my account allows me to pick a direction with a high risk low reward scenario and not be worried about going against me. The other day I was nearly 200 pips down on the E/U and now I am even no it and waiting for a climb upwards.
I hope you get this figured out and start making some money. One thing I ALMOST did was to make an educated decision as I normally would and determine the direction of the pair. If I saw it going up I would then sell because I was ALWAYS wrong. In other words, I was going to do the opposite of the move/direction I was seeing.

AUD/USD Inverted Head and Shoulders Points to a Retest of Parity- After being unable to close below the 0.9621 area, bulls grabbed control with the help of news of a credible Eurozone Sovereign debt bailout plan. AUD/USD reached an intraday high of 9938. Look for a consolidation/ retracement before a possible next leg higher.

Originally Posted by Mary R

Well that trend of coming to the US for health care has been reversing - more and more Americans are going overseas for health care. Hospitals in Thailand will do many procedures for 1/3 of the cost of American hospitals often with lower infection rates. The main exception is cancer - many people still do come to the US for cancer care, those who can afford it anyway.

I am thinking the risk rally we are seeing this week will present good short opportunities particularly for AUD and EUR. I missed the USDCAD rally, so I am thinking possibly a pullback to 1.02 or below might be an entry point. i am amazed at the momentum the USDCAD break had.

I am still favoring the short side on EURUSD, even if the Germans agree to put up another $500 billion euros to the Financial Stability Fund (not likely from what I read), I still think the ECB will lower rates, Mr. Trichet is going to have to stop the hysterics about price stability and get real about fixing their problems.

USD/CAD Bounce from 1.0154 Could Open Path to 1.0466- The 1.0154 area represents the 38.2% retracement of the upmove that started on 9/19 at 0.9783 that extended to the 1.0384 9/26 high. USD/CAD could get as low as 1.0014 which is the 61.8% Fibo of that same upmove as seen on a 4-hour chart. I'd like to see price break above my regression channel to be sure as this pair is "Loonie"

Has anyone noticed the rollover today is a little higher then it was yesterday, its not even Wednesday any reasons would like to know?

Originally Posted by Gregory McLeod

USD/CAD Bounce from 1.0154 Could Open Path to 1.0466- The 1.0154 area represents the 38.2% retracement of the upmove that started on 9/19 at 0.9783 that extended to the 1.0384 9/26 high. USD/CAD could get as low as 1.0014 which is the 61.8% Fibo of that same upmove as seen on a 4-hour chart. I'd like to see price break above my regression channel to be sure as this pair is "Loonie"

yes, 1.0154 could be a point at which to re enter long. It might get there today

Hello Mr. Mcleod,

My name is Quincy7 and I'm an young up and coming market forecaster who has studied stocks currencies for years but have miraciously have made monumental strides in the past few months.

I guess if you really want something you will dig as far and as wide as you have too to get whatever it is you want. I guess you can say that is what has happened to me. Hard work, persistance, = a winner. ANd let me tell you that I look forward to watching you trade live.

Looking at the Aud/Usd on the weekly chart you see that the pair is poised to fall downward but retraces its steps at supporrt and resistance levels at 9581. Looking at the 1 hour chart it wass safe to jump in a long time ago but just to make sure the buyers and sellers are not confused at this point which will make the price jump up and down on support and resistance levels a good safe zone to buy would be at 1.0032. After it hits this price, its a fore sure winner.

Originally Posted by Quincy7

Hello Mr. Mcleod,

My name is Quincy7 and I'm an young up and coming market forecaster who has studied stocks currencies for years but have miraciously have made monumental strides in the past few months.

I guess if you really want something you will dig as far and as wide as you have too to get whatever it is you want. I guess you can say that is what has happened to me. Hard work, persistance, = a winner. ANd let me tell you that I look forward to watching you trade live.

Looking at the Aud/Usd on the weekly chart you see that the pair is poised to fall downward but retraces its steps at supporrt and resistance levels at 9581. Looking at the 1 hour chart it wass safe to jump in a long time ago but just to make sure the buyers and sellers are not confused at this point which will make the price jump up and down on support and resistance levels a good safe zone to buy would be at 1.0032. After it hits this price, its a fore sure winner.

Hello Quincy7! Welcome to the forums and thanks for sharing your opinions and knowledge! Some traders keep things to themselves thinking they have discovered the "Holy Grail" and by sharing they lose their edge. I have traded some 17 years and I have found that the greatest traders share their experience with others as this is how they grow.

I don't have all of the answers and I too am a seeker on this path so any ideas you would like to share are very welcome here!

Again it is a pleasure to meet you and I wish you all the best in your trading!

Originally Posted by D_Caron

Has anyone noticed the rollover today is a little higher then it was yesterday, its not even Wednesday any reasons would like to know?

Hello D_Caron. Are you noticing higher rollover on all pairs or on one pair in particular?