Australia Labour Force

Quoting Pip Anon

Disliked

Man, what's going on with that AMAZING Chinese trade data lol. I guess you guys have to start faking data, too.

With all seriousness though, employment has been an issue for you guys. Are there a lack of jobs? I know Australia is largely rural, outside of the coast. Was there just too much emphasis on mining?

I would love to get some land over your way, but Christ it's expensive.

Ignored

Aaahh, who knows, I'm studying to become a Communist, er, I mean Teacher.

Feb 12, 2014 7:31pm

Quoting Ill-b-back

Disliked

Lol, I was thinking of you on the drop.

Ignored

Same here, looks like frx trader may get a little relief. I was sitting on the sidelines since I had a long bias, but didn't really feel like getting in before major news....but I'd like to see some type of move up to form a Lower High before I sell into a trend change. Nice job to all those that shorted earlier...enjoy your pips!

Feb 13, 2014 5:11am

Quoting frx_trader

Disliked

See what I mean. It's half way. It takes 30 min to take 100 pips. Nice.

Ignored

I know you were looking for .8600, maybe changed to .8700...but it's not halfway yet. It only dropped 140pips from it's recent highs and still has 250pips to go from it's current level just to reach .8700(350pips for .8600)...I don't call that half way. I could be wrong, but I find it hard to believe it will drop straight down too. But again, if it heads up some, forms a lower high, then the recent rally might be over. But I still don't know how low it will go. But for your sake, hopefully it does keep going down.

Feb 13, 2014 5:13am

Quoting Slurp

Disliked

Thats why its important to be able to pick nice setups with nice probabilities before major news that move the market. If you obey your sl you know what you risk and what to expect. If it goes the other way you just say "so what?" and move on to the next setup. Opportunities are there everyday on all time frames and all pairs

Cheers

Ignored

I prefer taking my signals from the 1hr chart, so it takes time to develop. Sometimes I miss trades, but I'm ok with that. I prefer taking the higher probability setups and skipping the "gambling" ones. Cheers!

Feb 13, 2014 8:43am — Edited

Quoting Slurp

Disliked

If we dont get a close above 8990 in the next few H1 candles, expect audusd to get to 8865 soon. Very soon. And if we get the USD strength im expecting, then all i got to say is "lol".

Ignored

After the big drop last night(2hrs...103pips), we've had 13hrs of a slow grind back up 43pips. I have no "confluence" or reasons to trade either way at the moment.

Make that 14hrs and 60pips up from the lows. Where did all the sellers go?

Pip Anon

Feb 12, 2014 6:38pm

Quoting Guest

Disliked

Fuck me. So much for the upward bias... Always leaning the wrong way...

Ignored

Resistance was located at .9030, price action lingered. I mean if there is anything sure in this world, it's poor Aussie data.

Pip Anon

Feb 12, 2014 7:32pm

Quoting Ill-b-back

Disliked

Yes, got to agree unfortunately.
Our slump is turning into an automotive turmoil.

Ignored

Man, what's going on with that AMAZING Chinese trade data lol. I guess you guys have to start faking data, too.

With all seriousness though, employment has been an issue for you guys. Are there a lack of jobs? I know Australia is largely rural, outside of the coast. Was there just too much emphasis on mining?

I would love to get some land over your way, but Christ it's expensive.

buster48

Feb 13, 2014 1:26am

Quoting Guest

Disliked

best way to trade news is to set pending orders 10 pips above price and below and have trailing stop and will catch most of move

Ignored

so it can spike both ways and take them both out for a double loss ,it dosent work ,not for me anyhow ,

Feb 13, 2014 1:33am

Quoting PA is King

Disliked

Same here, looks like frx trader may get a little relief. I was sitting on the sidelines since I had a long bias, but didn't really feel like getting in before major news....but I'd like to see some type of move up to form a Lower High before I sell into a trend change. Nice job to all those that shorted earlier...enjoy your pips!

Ignored

See what I mean. It's half way. It takes 30 min to take 100 pips. Nice.

Feb 13, 2014 4:02am

Quoting Squeeze

Disliked

Yes it does suck, badly. When questioned as to what news you saw on the horizon in order to encourage your short (which was underwater by up to 400 pips) you had no answer. You've now got lucky but are still underwater on your short. Instead you should have been long as of the 3rd/4th Feb and closed out with circa 200 pips due to a trailing stop being hit by a retrace, or still long, considering when to stop and reverse trade direction, if that's what your swing trading plan dictates.

Ignored

Fortune Teller. The first time I called for short was on Feb 5. Here it is:

http://www.forexfactory.com/news.php?do=news&id=469689#post7266104

The price was between .8870 and .8940. Since then it goes sideways , and 2 days ago it broke thru and reached the highest yesterday with .9967.

Today, up to now, the lowest is .8927.

From technical point of view, AU is still sideways, with downward pressure.

From fundamental point of view, I said about some news. I couldn't predict to specific news. Who do you think I am? Just a trader and not fortune teller. Do I pray all the time for it to come down? No. I just trade what I see. It could be wrong and very wrong. And here I am with some pips. Don't need to brag about it.

Feb 13, 2014 5:17am

Quoting PA is King

Disliked

I know you were looking for .8600, maybe changed to .8700...but it's not halfway yet. It only dropped 140pips from it's recent highs and still has 250pips to go from it's current level just to reach .8700(350pips for .8600)...I don't call that half way. I could be wrong, but I find it hard to believe it will drop straight down too. But again, if it heads up some, forms a lower high, then the recent rally might be over. But I still don't know how low it will go. But for your sake, hopefully it does keep going down.

Ignored

Let's agree to leave it to the market. I hope to make some fortune. But who knows? Cheers.

Macdon

Feb 12, 2014 10:14pm

Quoting Spik

Disliked

@guest166.113

So, not everything is milk and honey in OZland as they want us to know here in Europe?

Ignored

Well it's much better than Europe. Europe is under communist dictatorship and not business friendly and it shows with the countries the EUSSR has converted to communist bloc poverty levels. Many proud nations have been converted to basket cases.

Australia at least hasn't had a recession for over 2 decades. As Asian nations want our minerals our $ goes up. As that desire diminishes and our $ does down slightly, we find they want our farmland and property and again the $ goes up.

Fx 35

Feb 12, 2014 7:52pm

Quoting Guest

Disliked

best way to trade news is to set pending orders 10 pips above price and below and have trailing stop and will catch most of move

Ignored

Do you think so? Just to have an idea, I straddle GBP/AUD, EUR/AUD by placing 20 pips above and below the consolidation and still my broker gave 65 pips slippage on each pair. Luckily this was on my demo account. Basically all AUD pairs got slippage, at least from my broker. Nowadays some brokers don't even guarantee your stop loss. So be careful with the straddle.

Feb 13, 2014 3:35am

Yes it does suck, badly. When questioned as to what news you saw on the horizon in order to encourage your short (which was underwater by up to 400 pips) you had no answer. You've now got lucky but are still underwater on your short. Instead you should have been long as of the 3rd/4th Feb and closed out with circa 200 pips due to a trailing stop being hit by a retrace, or still long, considering when to stop and reverse trade direction, if that's what your swing trading plan dictates.

Quoting frx_trader

Disliked

Don't need to brag. Just trade what you see. My method just sucks. poor me.

Ignored

Feb 13, 2014 4:46am

No, you can trade the reaction to the news very easily with a 90% chance of being in the right direction to farm a few pips. I've taught it for years.

Quoting Slurp

Disliked

Thats why its important to be able to pick nice setups with nice probabilities before major news that move the market. If you obey your sl you know what you risk and what to expect. If it goes the other way you just say "so what?" and move on to the next setup. Opportunities are there everyday on all time frames and all pairs

Cheers

Ignored

Feb 13, 2014 8:52am

Nope that's miles away from having a trading the reaction to the news strategy that actually works nine times out of ten. As for the rest of your post er...yeah...ok..

Quoting Slurp

Disliked

Yeah im aware of a few 1min and 5min strategies that work pretty nice most of the times. I just have the bad habit to scalp huge lot sizes and its more entertaining -not to mention safer- to do it when theres no news.

The important thing is to make bank. If your way gets you to your goals you simply continue doing it. If not, you adapt and eventually overcome. Hopefully. ROFL.

Ignored

Feb 13, 2014 9:16am

So what price were you filled at. Bearing in mind the time of your call? Tia.

Quoting frx_trader

Disliked

Fortune Teller. The first time I called for short was on Feb 5. Here it is:

http://www.forexfactory.com/news.php...89#post7266104

The price was between .8870 and .8940. Since then it goes sideways , and 2 days ago it broke thru and reached the highest yesterday with .9967.

Today, up to now, the lowest is .8927.

From technical point of view, AU is still sideways, with downward pressure.

From fundamental point of view, I said about some news. I couldn't predict to specific news. Who do you think I am? Just...

Ignored

gzforex20

Feb 12, 2014 10:23pm

Quoting Guest

Disliked

finally the rally is over... so called bullish reversal...thank god of my wisdom to stay short....plus me being jobless since few months have given me better view of whats going on at at centrelink and job services....unemployment will increase to 7% by next year....If any one has development & support job in SYD in MS Technologies do let me know...I have 8 yrs exp in IT and Finance....

Ignored

where r u located?

zax1150

Feb 12, 2014 11:56pm

this was glaringly obvious the Oz govt is trying to push the dollar down & fixing the figures from stats bureau is the easiest way to do it.......lol!

not like the figures can come from DSS.....that's been impossible since '88.......(thank PM Keating)

So expecting this from data release

that & sell indicator was yesterday @ :9050

zax1150

Feb 13, 2014 5:17am

Ok you're all dealing with the aussie $ here so obvious ones for 200 pips a day are aud/usd & eur/aud.........

admittedly actually reading the RBA statement each month will tell you what hockey is pretty much doing
(what swan was.....screwing the australian taxpayer)
the data releases are just smoke & mirrors

aud/usd was a comfortable 100 & eur/aud was an easy 200 as the news took effect (not bragging.....just simple logic)

Ill-b-back

Feb 12, 2014 7:13pm

Quoting frx_trader

Disliked

Don't need to brag. Just trade what you see. My method just sucks. poor me.

Ignored

Lol, I was thinking of you on the drop.

mrluckystar

Feb 12, 2014 7:21pm

Looking at daily chart, right shoulder is building up....
Next target for bounce is at 0.8850..

k3nshinz3139

Feb 12, 2014 6:39pm

haha.. Yesterday those data is nice build for short

Thank China and Aus

wael shami

Feb 12, 2014 7:08pm

Quoting Guest

Disliked

best way to trade news is to set pending orders 10 pips above price and below and have trailing stop and will catch most of move

Ignored

not exactly i guess , OCO orders may turn against you as price usually tend to move violently up&down before the zero hour

Spik

Feb 12, 2014 6:38pm

Just when AUD seemed like finding traction, BANG!, unemployment rate hits fresh 10-year high.

AUD under imminent pressure. AUDUSD should see 0,8850 until the end of the week.

Spik

Feb 12, 2014 6:53pm

@guest166.113

So, not everything is milk and honey in OZland as they want us to know here in Europe?

Feb 12, 2014 6:44pm

Don't need to brag. Just trade what you see. My method just sucks. poor me.

Feb 13, 2014 4:41am

Quoting PA is King

Disliked

Same here, looks like frx trader may get a little relief. I was sitting on the sidelines since I had a long bias, but didn't really feel like getting in before major news....but I'd like to see some type of move up to form a Lower High before I sell into a trend change. Nice job to all those that shorted earlier...enjoy your pips!

Ignored

Thats why its important to be able to pick nice setups with nice probabilities before major news that move the market. If you obey your sl you know what you risk and what to expect. If it goes the other way you just say "so what?" and move on to the next setup. Opportunities are there everyday on all time frames and all pairs

Cheers

Feb 13, 2014 5:04am

Quoting Squeeze

Disliked

No, you can trade the reaction to the news very easily with a 90% chance of being in the right direction to farm a few pips. I've taught it for years.

Ignored

Yeah im aware of a few 1min and 5min strategies that work pretty nice most of the times. I just have the bad habit to scalp huge lot sizes and its more entertaining -not to mention safer- to do it when theres no news.

The important thing is to make bank. If your way gets you to your goals you simply continue doing it. If not, you adapt and eventually overcome. Hopefully. ROFL.

Feb 13, 2014 10:05am

Quoting Squeeze

Disliked

Nope that's miles away from having a trading the reaction to the news strategy that actually works nine times out of ten.

Ignored

just dont start talking about fractals/chaos etc cause im gonna shit my pants hahaha

Quoting PA is King

Disliked

Where did all the sellers go?

Ignored

they're at "Bankland" right now lol

LJay

Feb 12, 2014 6:38pm

Major impact on AUD currency pairs. Congratulations to all you big winners out there.

aussiekid

Feb 12, 2014 9:44pm

Quoting Pip Anon

Disliked

Man, what's going on with that AMAZING Chinese trade data lol. I guess you guys have to start faking data, too.

With all seriousness though, employment has been an issue for you guys. Are there a lack of jobs? I know Australia is largely rural, outside of the coast. Was there just too much emphasis on mining?

I would love to get some land over your way, but Christ it's expensive.

Ignored

Yeah mining investment boom finished and has a flow on effect into other sectors. Also the labour government that "saved us" from recession racked up huge unsustainable debt that the new government has to now repair. they didn't even spend wisely they just threw money around and wasted what should of been a golden opportunity to secure the nation's future wealth. It may seem strange but the mining boom made most Australians poorer, unless you are Andrew Forrest, Gina Reinhart or a pub owner in the Pilbra.

Less government spending, slow down in capital investment and a steadily increasing population all contributing to rising unemployment.
Also the generous employment conditions in Australia make it difficult for us to compete on the global stage when it come's to the cost of doing business, especially in manufacturing. This in turn causes the cost of living to rise. Many other people in the world would also like to get property here and they did, which didn't help housing affordability. If like me you already owned an investment property in Australia you would be liking your lips, rent is sky-rocketing.

Perth, my home town is now one of the most expensive cities in the world to live in. This cost of living is crippling small business growth because no one has any money once they pay their rent, food bill, electricity and so on. So they lay off employees and downsize. Instead of hiring more lazy Aussies who want to get paid top dollar business is increasingly outsourcing to cheaper countries, which they sort of have to do. At the same time workers have to demand high wages because the cost of living is so high. We have had to good for too long and now we will pay for it.

Our economy needs to undergo some structural changes and there is bound to be a rough patch when that happens. Even with the falling AUD we will do well to stabilise employment this year. I guess we can always rely on China to dig us out of this hole, they have always been a transparent and trustworthy nation...

(I am over simplifying here but it is already a long post)

FXprobe

Feb 12, 2014 7:06pm

It's still milk & honey but the milk is going sour the honey has few stings in it

wael shami

Feb 12, 2014 7:09pm

scalpers : time to buy now

Shelika

Feb 12, 2014 7:38pm

bye bye 0.90... we may not see it again until one month or so..

wave5

Feb 12, 2014 6:43pm

the writing was on the wall, thanks for the easy pips

osceiv2

Feb 12, 2014 6:42pm

Quoting Guest

Disliked

FX is really F@#$k up, u wait all day for a move that goes over 70 pips in 2 mins and i miss it.

Ignored

you didn't miss this oportunity to go long now

Feb 13, 2014 5:37am

If we dont get a close above 8990 in the next few H1 candles, expect audusd to get to 8865 soon. Very soon. And if we get the USD strength im expecting, then all i got to say is "lol".

rashidcm2004

Feb 12, 2014 6:37pm

steven was absolutely right.

Trader#7FC6

Feb 12, 2014 6:45pm