A matter of time before 0.7820, then 0.7674.. I'm more of a longer-term trader, but don't believe all the hype, and be patient. Make sure you have the equity to stay in the game, don't freak out when she's heading in the wrong direction, and always collect have your positions 50% before they get to you TP, then re-instate those orders for retrace. Rinse, was, and repeat, until eventually the remaining 50% of your trades hit the actual TP.. Enjoy all! Good profits to be made, but don't bet the bank on big trades, go smaller, go many, and go longer-term to enjoy the fruits. Imho, the Daily and Weekly charts are the best determination for longer-terms gains. It's hard sometimes to watch our trades to go the wrong direction, but be confident in your decisions based on those charts, and stay in for the long haul.. Of course, these are the rules I abide by... I know many of you out there have awesome systems, and are great scalpers! Good for you!. Don't you all just love this game!? Good luck all!
I called this the whole way down from "B", but once again failed to make money. I think I need to not leverage myself so high and have a deeper stop. My stops are generally really tight and I get caught up in the pull back (reload) stage. I like the previous post suggesting taking 50% profit off the table. Often times I have an aggressive limit that never is reached or it take several days to get there, usually with out me.
Question: When you take 50% profit, do you move the stop to break even on the remaining 50%. When you stated "reinstate orders..." do you mean wait on correction and then enter the trade in the same direction as your TP?
I called this the whole way down from "B", but once again failed to make money. I think I need to not leverage myself so high and have a deeper stop. My stops are generally really tight and I get caught up in the pull back (reload) stage. I like the previous post suggesting taking 50% profit off the table. Often times I have an aggressive limit that never is reached or it take several days to get there, usually with out me. Question: When you take 50% profit, do you move the stop to break even on the remaining 50%. When you stated "reinstate orders..."...
Ignored
I can't speak for how darknecess handles their trades but for me doing the longer term thing means being prepared to hold losses and add to them. Thus an example from 4hr chart shown might be to have gone short around 8050, take some profit around 7950, replace some or all of positions closed around 7950 around 8040, take some profit again around 7950, replace some or all at next orange oval around 7900, take some profit around 7800.
If you'd originally entered some short around 7950 20/7/17 and added to them when price went to 8060 you might just be exiting the earlier shorts for small profit and replacing them when it went back to 8040. The exact percentages depend on your timeframe, risk tolerance and plan.
Interesting how we all see the same thing differently
Yes it is in a long term up trend.. ..ish.... weekly looks down daily looks up...lower time frames seem correcting lower so depends on your timeframes.
Weekly is still bullish in the short term ..say last 6 months.. it barely move down after a decisive and un challenged move up..
I would not call a downtrend until under a proper effective low red candle... and still it can still be a correction for more long movements
I only make money during the news. I can call trades as many here do when I am not in a trade but personally lack the discipline to hold trades for more than hours...
Why? Because i trade big and to trade big long term you need to be really good and have lots of money to support drawdown
But as many say here it depends on your trading style and if you found a way of making money who cares how you do it?
I wake up in the middle of the night to trade news and go back to bed... also find a way to do it at work if big news are during the day. But I guess not every job will allow you to what I do
So back to the Aussie as for now i see it doing what it has done for the last 3 weeks... going down.. .regaining most of the losses and then going down further.. good for scalpers out there in my opinion.with a bear bias
The two upcoming news announcements for the AU, will it have much of an impact on price action? I'm not a fundamentalist.
Ignored
Yes. Wage index at 1130am aest should be red, its the one of the important ones RBA have been sweating on, they want wages to rise but they're not rising enough. Anything other than what is predicted should see a drop. We may see a small rise if it comes out at 0.5% the predicted but not much, anything green could reverse this recent fall.
I think it will be 0.5%, miners have been putting people on for good wages, so I suspect this will keep the status quo will all the other industries lagging.
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Joined Nov 2008
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Status: Would like to automate my trading
|95 Posts
just wondering thoughts on the current political climate has on this pair. I guess Aussie tied to GOLD, you would expect the pair to go up with uncertain Trump vs Nth Korea. If things do escalate, will $$ rush to gold from US $, thus making a long bias on this pair possible?
just wondering thoughts on the current political climate has on this pair. I guess Aussie tied to GOLD, you would expect the pair to go up with uncertain Trump vs Nth Korea. If things do escalate, will $$ rush to gold from US $, thus making a long bias on this pair possible?
Ignored
Aussie tied to Gold, Coal, Iron Ore, China, Oil, Gas etc etc.
just wondering thoughts on the current political climate has on this pair. I guess Aussie tied to GOLD, you would expect the pair to go up with uncertain Trump vs Nth Korea. If things do escalate, will $$ rush to gold from US $, thus making a long bias on this pair possible?
Ignored
Aud is a risk currency. If the tension escalates to threaten war - Aud will fall. Gold, usd and yen are all considered safe and will strengthen. Any movement due to tensions will unwind once the threat of war is deemed unlikely. Now tension seems to be cooling perhaps a move back up for this pair. Depends on the what happens the rest of this week on terms of their dialogue.
We expect the minutes of the July FOMC meeting to provide further information regarding the timing of balance sheet normalization and the degree of consensus within the committee.
We think balance sheet normalization will likely start in September and the hurdle is quite high for the FOMC to deviate from what it has been signaling so far.
We will also look for more detail on how concerned the FOMC is with the incoming data on inflation.
Although we think concern has risen, we do not believe there is sufficient worry yet to derail a likely December rate hike.
HSBC:
In July, the FOMC left the target range for the federal funds rate unchanged at 1.00%-1.25%. The Committee announced in its policy statement that it expected to begin shrinking the Fed's balance sheet "relatively soon."
We expect the FOMC to formally announce the disinvestment program at its next policy meeting in September and to commence the program in October.
We expect the next 25bp hike in the federal funds rate to come in December.
In July, the FOMC repeated that it expected inflation on a "12-month basis" to remain below 2% in the near-term but to stabilize around 2% over the medium term. The July minutes are likely to show extensive discussion about the slowdown in inflation over the past several months. Some of the policymakers likely held to the view that diminishing labour market slack should eventually put upward pressure on inflation. Others may have argued the FOMC should be cautious with respect to additional policy rate hikes unless the inflation data start to pick up.
