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    From abs.gov.au Story is in PDF Format

    APRIL KEY POINTS CURRENT PRICES The trend estimate rose 0.3% in April 2015. This follows a rise of 0.3% in March 2015 and a rise of 0.3% in February 2015. The seasonally adjusted estimate was relatively unchanged (0.0%) in April 2015. This follows a rise of 0.2% in March 2015 and a rise of 0.7% in February 2015. In trend terms, Australian turnover rose 4.4% in April 2015 compared with April 2014. The following industries rose in trend terms in April 2015: Food retailing (0.2%), Clothing, footwear and personal accessory retailing (1.0%), Cafes, restaurants and takeaway food services (0.4%), Household goods retailing ... (full story)

Well, I'm kicking myself a little for closing my short before the news came out...would be a nice profit right now. On the flip side, if price spike up on good news...I would have lost my profits. So I can't be mad.

Here's the part that you guys should take note of...the bad news tonight caused a drop in Aussie about the same amount as positive GDP news from last night( about 60 pips each news release). So the market makers are still bearish on Aussie overall. And .7800 is the major supply area!
Quoting PA is King
Well, I'm kicking myself a little for closing my short before the news came out...would be a nice profit right now. On the flip side, if price spike up on good news...I would have lost my profits. So I can't be mad.

Here's the part that you guys should take note of...the bad news tonight caused a drop in Aussie about the same amount as positive GDP news from last night( about 60 pips each news release). So the market makers are still bearish on Aussie overall. And .7800 is the major supply area!

Once the Major Supply .7800 is fullfilled,yesterday so many try's,so comes into RED Flag for aussie 7700-7660 levels
I thought it will be 3 days rally on ausie after gdp
Quoting PA is King
Well, I'm kicking myself a little for closing my short before the news came out...would be a nice profit right now. On the flip side, if price spike up on good news...I would have lost my profits. So I can't be mad.

Here's the part that you guys should take note of...the bad news tonight caused a drop in Aussie about the same amount as positive GDP news from last night( about 60 pips each news release). So the market makers are still bearish on Aussie overall. And .7800 is the major supply area!
Do you ever use positions with a guaranteed stop? eg keep your short open with a guaranteed stop at 7780. Could sometimes get stopped out on a spike but is a way to protect some profit whilst having exposure to the drop.
Hope for the best, prepare for the worst.
I just placed a sell order even before the news released and booked quick profits but additionally placing a buy stop order.
Quoting PA is King
Well, I'm kicking myself a little for closing my short before the news came out...would be a nice profit right now. On the flip side, if price spike up on good news...I would have lost my profits. So I can't be mad.

Here's the part that you guys should take note of...the bad news tonight caused a drop in Aussie about the same amount as positive GDP news from last night( about 60 pips each news release). So the market makers are still bearish on Aussie overall. And .7800 is the major supply area!
Mr.King i am happy to read ur comments.I am facing a tough time with most the brokers.Only wire transfer brokers are ok.Rest other payment system brokers appear to be bucket shop. Can u suggest me which broker u r using? I need a broker who is fit for news trading(break out trades).My current broker OCTAFX, TICKMILL and ROBOFOREX all trigger both the orders though the market has moved only in one direction.These guys are fake and pretend to be ECN,NDD and STP though they are not.
Quoting dab
Do you ever use positions with a guaranteed stop? eg keep your short open with a guaranteed stop at 7780. Could sometimes get stopped out on a spike but is a way to protect some profit whilst having exposure to the drop.
I have before and sometimes still do...but with the volatility lately I just wanted to cash out. I'll wait for another setup.
Quoting 17607
Mr.King i am happy to read ur comments.I am facing a tough time with most the brokers.Only wire transfer brokers are ok.Rest other payment system brokers appear to be bucket shop. Can u suggest me which broker u r using? I need a broker who is fit for news trading(break out trades).My current broker OCTAFX, TICKMILL and ROBOFOREX all trigger both the orders though the market has moved only in one direction.These guys are fake and pretend to be ECN,NDD and STP though they are not.
I live in the USA, so I can only trade with US brokers. I'm not familiar with brokers in India...sorry I can't help in this matter.
Quoting 17607
Mr.King i am happy to read ur comments.I am facing a tough time with most the brokers.Only wire transfer brokers are ok.Rest other payment system brokers appear to be bucket shop. Can u suggest me which broker u r using? I need a broker who is fit for news trading(break out trades).My current broker OCTAFX, TICKMILL and ROBOFOREX all trigger both the orders though the market has moved only in one direction.These guys are fake and pretend to be ECN,NDD and STP though they are not.
Well, you could try HotForex -they are a Cyprus based broker and I have been with them for about 2 years and they are very good. You can choose between DD or ECN -DD option is great for news trading.
Also just because a broker offers various methods of funding does not mean they are all bucket shops But stay away from CAPITAL TRUST MARKETS - i have an account with them and cannot withdraw any money!!! They are the worst broker ever- and all of the stuff on their web page is lies!!
You could also check Forex Peace Army (FPA) -they alert the forex community of scam brokers and rate the good ones!!
Tickmill pretends to be an STP broker? You sure? That's news to me if it's true...
Quoting krassen
Tickmill pretends to be an STP broker? You sure? That's news to me if it's true...
they dont entertain news trading
Quoting Ranmalpg
Well, you could try HotForex -they are a Cyprus based broker and I have been with them for about 2 years and they are very good. You can choose between DD or ECN -DD option is great for news trading.
Also just because a broker offers various methods of funding does not mean they are all bucket shops But stay away from CAPITAL TRUST MARKETS - i have an account with them and cannot withdraw any money!!! They are the worst broker ever- and all of the stuff on their web page is lies!!
You could also check Forex Peace Army (FPA) -they alert the...
Thanks Mr.King.Thanks for the feedback. Luckily, i was thinking about capital trust markets since the people were calling me frequently; i am denying any chances to them now.
Brokers that chase potential clients, to me anyway, are usually crooks.
Quoting 17607
they dont entertain news trading
True, their spreads widen quite a bit sometimes during news, especially major news like the NFP. I haven't had other problems, though. Maybe occasional slippage within 2-3 pips... I think STP brokers widen spreads during news anyway, just like any other broker out there... I guess the biggest drawback to trading with Tickmill is that they are based in the Seychelles...
Just a recap of the week for those who are interested in how forex works:

1) Monday was a false move lower by the market makers to make traders think/enter short on Aussie

2) Tuesday was a major stophunt higher to take out the bears and get traders to think long

3) Wednesday was consolidation(ADR of only 70pips) to keep traders guessing...but there was a Daily Pinbar that formed as a clue!

4) Thursday has been a complete sell off to take out those who were long and to upset those who were short earlier in the week only to be stopped out on Tuesdays stop hunt.

5) Friday...TBD, but I have an idea of the direction.
Let me guess about tomorrow's direction ... up?
I going to keep this one to myself.

But let me add in here a rhetorical comment...the euro rallies 150pips today, the pound about 130....both are back where they started....Aussie is the only one to move 100 pips straight down(looking at the daily chart...Pinbars on euro and pound, but big bearish candle on Aussie after yesterday's Pinbar). These are the price action clues one must learn in order to be successful in trading.
Most likely nothing significant will happen with AU tomorrow until the NFP... just consolidation during AS and LS and then lots of whipping and whacking of the price in seconds during the big news... time will tell...
Yeah, I agree...that's pretty much what I was talking about, the big move will come after NFP.

Happy Trading!


p.s. So much for the Good GDP number a couple days ago eh? lol
Quoting PA is King
Just a recap of the week for those who are interested in how forex works:

1) Monday was a false move lower by the market makers to make traders think/enter short on Aussie

2) Tuesday was a major stophunt higher to take out the bears and get traders to think long

3) Wednesday was consolidation(ADR of only 70pips) to keep traders guessing...but there was a Daily Pinbar that formed as a clue!

4) Thursday has been a complete sell off to take out those who were long and to upset those who were short earlier in the week only to be stopped...
Nice useful post as always PA.
Quoting buster48
Nice useful post as always PA.

Thank you. I hope my posts do help some traders learn/understand price action and how the markets work better.

Many pips to you!
Just as expected...down Aussie goes. The maket makers spent two weeks selling Aussie for 650 pips, then they took one day(Tuesday) on a major 200pip stophunt. There was no follow through...only two more days of selling. And then today, they created a small fake rally pre-NFP to stop out weak shorts and/or induce people to go long only to drop the hammer by selling after NFP. Everything you need to know t be successful is in a Price Action.
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  • Posted: Jun 3, 2015 9:31pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 22  /  Views: 4,222
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