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AUD/USD

  • #102,281
  • Aug 3, 2017 2:30pm Aug 3, 2017 2:30pm
Quoting VuLe
{quote} You guys are taking this a little too far.. respect each other, dont be like "you're wrong, or when target goes the way you want it and you pushes your arrogantness in someone's else face." we should help each other and take the worlds money. This is a forum. 1% of the trade use only this forum. Lets work together and take money from the other 99%. at the moment time will tell. In the mean time lets continue discussing what is the plan for tomorrow and decipher the chart.
Absolutely bro.. I didn't start this thing.. I am respectful to all the members who respect others.. I rest my case to the people who have some common sense left in

them... Goodbye everyone
Markets are Irrational
  • #102,282
  • Aug 3, 2017 2:32pm Aug 3, 2017 2:32pm
Quoting VuLe
{quote} You guys are taking this a little too far.. respect each other, dont be like "you're wrong, or when target goes the way you want it and you pushes your arrogantness in someone's else face." we should help each other and take the worlds money. This is a forum. 1% of the trade use only this forum. Lets work together and take money from the other 99%. at the moment time will tell. In the mean time lets continue discussing what is the plan for tomorrow and decipher the chart.
Thank you.
It's alright, there is a limit to tolerate the existent of such trolls. I will not continue this bickering with this cricket dude.

Everyone here can judge for themselves.
  • #102,283
  • Aug 3, 2017 2:50pm Aug 3, 2017 2:50pm
Awesome guys... anyways back to topic. Yes I know that many people says "never trade news, because it is risky."

for me. Wherever I see news, is where I see opportunity.
from now and until AUD RBA statement we could see an upflow to .7980 then the news could shoot it down to .7880ish
what you guys think??
Trade what you see, take what the market gives you.
  • #102,284
  • Aug 3, 2017 7:39pm Aug 3, 2017 7:39pm
Quoting VuLe
Awesome guys... anyways back to topic. Yes I know that many people says "never trade news, because it is risky." for me. Wherever I see news, is where I see opportunity. from now and until AUD RBA statement we could see an upflow to .7980 then the news could shoot it down to .7880ish what you guys think??
Most of us I see are on the same boat. I couldn't see a reason for the aud to fall and here it is. No real reason just the way it is...sort of like the weather or a sudden death. Just happens

So I see what most see... as usual per experience I wonder what could prove me wrong ..
  • #102,285
  • Aug 3, 2017 8:19pm Aug 3, 2017 8:19pm
Quoting thewriter30
{quote} Most of us I see are on the same boat. I couldn't see a reason for the aud to fall and here it is. No real reason just the way it is...sort of like the weather or a sudden death. Just happens So I see what most see... as usual per experience I wonder what could prove me wrong ..
One reason that aud could fall is
"nothing goes up for ever and nothing goes down forever"

dont you agree inorder for the uptrend to continue aud would have to fill in some retracement?? I did post 4 charts and share my 4 reasoning earlier in the post for why I think aud is retracing. Perhaps you can take a look and give me some feed back?? I really want to make money. In previous events, People hve enlighten me and prove me wrong and also saved me thousands of $$
Trade what you see, take what the market gives you.
  • #102,286
  • Edited 8:39pm Aug 3, 2017 8:24pm | Edited 8:39pm
According to the 5min/30min bar, I will enter long here with a -25pip sl for a tp at the .8050 retest of high.

edit* does not look so promising. Out with -5pip
Trade what you see, take what the market gives you.
  • #102,287
  • Aug 3, 2017 8:50pm Aug 3, 2017 8:50pm
.7944

RBA jawboning the AUD down with review forecast of CPI and GDP lower.

Infact its really the first time that RBA has admitted that economy isnt that flash and I agree with them.

If the USD turns around to bullish mode I expect the AUD to fall very rapidly
  • #102,288
  • Aug 3, 2017 9:05pm Aug 3, 2017 9:05pm
Quoting lasty
.7944 RBA jawboning the AUD down with review forecast of CPI and GDP lower. Infact its really the first time that RBA has admitted that economy isnt that flash and I agree with them. If the USD turns around to bullish mode I expect the AUD to fall very rapidly
Did you read or skim the 70 odd pages? Where did it mention these? I've only done very quick skim and they seem to be saying largely nothing much has changed and even mention headline inflation may increase slightly due to utilities (page 63).
Hope for the best, prepare for the worst.
  • #102,289
  • Aug 3, 2017 9:11pm Aug 3, 2017 9:11pm
HI fellow traders

Ok I expected that spike after it went down from 7960
Took a small news scalp there
The only real profits I make is during news time...any body else?

Yes I agree it should go down before going up,...totally ,..just there is always an excuse...lets see

Interesting how a news like today would have lifted the pair 100 pips and today is struggling to even come back to 50

aUD is screaming I wanna go down....when ...how...I don't think tomorrow
  • #102,290
  • Aug 3, 2017 9:13pm Aug 3, 2017 9:13pm
Quoting thewriter30
HI fellow traders Ok I expected that spike after it went down from 7960 Took a small news scalp there The only real profits I make is during news time...any body else? Yes I agree it should go down before going up,...totally ,..just there is always an excuse...lets see Interesting how a news like today would have lifted the pair 100 pips and today is struggling to even come back to 50 aUD is screaming I wanna go down....when ...how...I don't think tomorrow
I so agree with you, but i believe nfp will help the drop
Trade what you see, take what the market gives you.
  • #102,291
  • Aug 3, 2017 9:18pm Aug 3, 2017 9:18pm
I was expecting a drop as well, but m30 was a nice bullish engulfing candle. maybe a run to the daily R1 target, 0.7977.
  • #102,292
  • Aug 3, 2017 9:20pm Aug 3, 2017 9:20pm
AUDUSD M30
Sideways for the coming week
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM304Aug17.png Size: 50 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #102,293
  • Aug 3, 2017 9:22pm Aug 3, 2017 9:22pm
so what are the scenarios right now that could happen

..sideways trapped 80 79 for a while until it find an excuse to break up or down...the strategy here of course just scalping

a proper correction, as we all expect to the 78 even lower levels before maybe shooting higher again if things go as they go now, good news from AU, iron ore up, china ok, TRump running the United States
  • #102,294
  • Aug 3, 2017 9:25pm Aug 3, 2017 9:25pm
Why would it go up so much just to drop? Demand is there, Australian dollar is very attractive.

Probably more data needs to come forward to create a clearer image. Retail sales I considered to be very disappointing.

It's not so much a matter of weak USD, but a strong and valuable Australian Dollar.

Just thoughts.

A
Humans are naturally hardwired to avoid and detest uncertainty.
  • #102,295
  • Aug 3, 2017 9:31pm Aug 3, 2017 9:31pm
Quoting skyhok
AUDUSD M30 Sideways for the coming week {image}
I'd like to be able to plot out scenarios like this. but I am such a scalper. plus you may be on point but the exact entry is tough to see when looking at the bigger picture. I'm glad I'm back on this site to learn more.
  • #102,296
  • Aug 3, 2017 9:35pm Aug 3, 2017 9:35pm
Creating lower highs and prices are becoming narrower in a wedge formation.

Break below will be bearish.

Break above will be bullish.

Since NFP is tonight, i have decided to reduce my exposure by taking profit on some open positions and leave the rest running for .7900 or lower.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 51 KB
  • #102,297
  • Aug 3, 2017 9:37pm Aug 3, 2017 9:37pm
Quoting SkyrEk
Creating lower highs and prices are becoming narrower in a wedge formation. Break below will be bearish. Break above will be bullish. Since NFP is tonight, i have decided to reduce my exposure by taking profit on some open positions and leave the rest running for .7900 or lower. {image}
I've done the same. Something doesn't seem right with this pair.

For long term traders August 17th has employment data. May indicate a suitable direction.

A
Humans are naturally hardwired to avoid and detest uncertainty.
  • #102,298
  • Edited Aug 4, 2017 12:11am Aug 3, 2017 9:46pm | Edited Aug 4, 2017 12:11am
Quoting CannonScout
{quote} I've done the same. Something doesn't seem right with this pair. For long term traders August 17th has employment data. May indicate a suitable direction. A

I reckon that prices are consolidating and moving in a range , hence traders are feeling the frustration because regardless of whether you are a bull or bear, both sides are not making substantial amount of profits. From the charts, prices are shifting from the top range of .80- .8065, down to .79.50-.80 and yesterday from .7915- .7965.

I'd say prices are shifting lower in a slow manner, however with NFP looming, anything can happen. Experienced traders will stand aside while i'm seeking alittle thrill risking small open positions into NFP. My biased will still be prices moving down to .7800- .7835 before going back up (depending on PA).

If we bring seasonality into factor, August is a known bearish month for AUD. We are into the first week of August, 3 more weeks for the bears to shine?

Many possibilities, just have to weigh these factors accordingly.

Have a great NFP later and weekend ahead!


update: drew a similar flag pattern and uploaded on my IG.

Safe trading all!
  • #102,299
  • Edited 2:01am Aug 4, 2017 1:44am | Edited 2:01am
looking D1 on EURUSD and AUDUSD , to me they are at temporary top so on NFP it might go a little bit up then crush down.......just guessing.
---
COT report did not come out yet but I believe that market knew NFP data in advance and they increased USD longs....just guessing, testing my chart reading.
I can.I will. End of story.
  • #102,300
  • Aug 4, 2017 6:12am Aug 4, 2017 6:12am
Quoting falcon72202
looking D1 on EURUSD and AUDUSD , to me they are at temporary top so on NFP it might go a little bit up then crush down.......just guessing. --- COT report did not come out yet but I believe that market knew NFP data in advance and they increased USD longs....just guessing, testing my chart reading.
For Eurusd and audusd, both need to down first and go up later.
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