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  • #981
  • Jul 20, 2018 6:24am Jul 20, 2018 6:24am
Quoting ztop
can anyone explain why after such a brilliant employment announcement the Audjpy is pushing down?
Two options.

a) big money using that buying/selling preassure to go the opposite direction.

b) if, lets say, a particular bank, take RBA for instance, is focused on GDP numbers, and those came in very poor last week, this good numbers are used only to sell at a better price, so trend continues the way it was.

Sometimes you also get the "already priced in" thing. So its very difficult to say.

Anyone feel free to add something / correct me.
  • #982
  • Jul 20, 2018 6:32am Jul 20, 2018 6:32am
Quoting Byrig
{quote} Two options. a) big money using that buying/selling preassure to go the opposite direction. b) if, lets say, a particular bank, take RBA for instance, is focused on GDP numbers, and those came in very poor last week, this good numbers are used only to sell at a better price, so trend continues the way it was. Sometimes you also get the "already priced in" thing. So its very difficult to say. Anyone feel free to add something / correct me.
so how does one trade something like that or how do you understand that they are selling rather than buying.

Here's the thing. I can read what's going on technically but I'm trying to incorporate fundamentals into my trading thinking it can give me another weapon.

So what's going through my mind is "that kind of employment number should offer a fairly good sign the economy is heating up" so I'm looking long but my technicals
are telling me this isn't going long.

I'm just wondering how others see it so I can get my head on straight.
  • #983
  • Jul 20, 2018 7:03am Jul 20, 2018 7:03am
Quoting ztop
{quote} so how does one trade something like that or how do you understand that they are selling rather than buying. Here's the thing. I can read what's going on technically but I'm trying to incorporate fundamentals into my trading thinking it can give me another weapon. So what's going through my mind is "that kind of employment number should offer a fairly good sign the economy is heating up" so I'm looking long but my technicals are telling me this isn't going long. I'm just wondering how others see it so I can get my head on straight.
Thats a question for another one, since I dont know if they're selling rather than buying. I doubt anyone knows to be honest.

I only use fundamentals to trade live, like speeches or when numbers are really better or worse than expected. And I do it for a quick in and out and really checking money management. Also I trade numbers that are currently focused by the central banks.

For the rest, I use technicals. For example I was already long EU half an hour trump said what he said about Fed.
  • #984
  • Jul 20, 2018 8:05am Jul 20, 2018 8:05am
Quoting ztop
{quote} so how does one trade something like that or how do you understand that they are selling rather than buying. Here's the thing. I can read what's going on technically but I'm trying to incorporate fundamentals into my trading thinking it can give me another weapon. So what's going through my mind is "that kind of employment number should offer a fairly good sign the economy is heating up" so I'm looking long but my technicals are telling me this isn't going long. I'm just wondering how others see it so I can get my head on straight.
In my opinion fundamentals set the long term direction, while in the short term professionals use the news to position themselves and to trick traders in the wrong direction. Sometimes they can push the price down with good news to try to get traders to go short, and those traders along with the traders that bought at the news and now are being forced to close their positions will give them liquidity and will allow them to enter in the market at a better price
  • #985
  • Jul 20, 2018 10:34pm Jul 20, 2018 10:34pm
Quoting SPeedFANat1c
{quote} why eurusd long? Does it depend so much on gbp data? and which gbp data exactly? soon will be also red gbp news. I am short on eur usd because yesterday were good USD news and today Capacity Utilization Rate and Industrial Production m/m are better than previus. I plan to close trade before the release. Plus there is 1.1720 resistance level by dailypriceaction.com which helps to short and does not help to go long
I went long eur/USD as it tends to follow gbp/USD. Now the trades started of well but the brexit talks and strong usd later collapsed the trades
  • #986
  • Jul 20, 2018 10:37pm Jul 20, 2018 10:37pm
Quoting ztop
can anyone explain why after such a brilliant employment announcement the Audjpy is pushing down?
Aud is tricky because they are not going to hike this year regardless so maybe traders see it as a stint and take profit quickly from the data release. Audusd also fell quickly.
  • #987
  • Jul 21, 2018 1:11pm Jul 21, 2018 1:11pm
Quoting Samson85
{quote} Aud is tricky because they are not going to hike this year regardless so maybe traders see it as a stint and take profit quickly from the data release. Audusd also fell quickly.
So, if I understand what you're saying-- Audusd and Audjpy or any other Aud pair are topped out essentially until their news of rates raising are announced?
  • #988
  • Jul 21, 2018 1:33pm Jul 21, 2018 1:33pm
Quoting ztop
{quote} So, if I understand what you're saying-- Audusd and Audjpy or any other Aud pair are topped out essentially until their news of rates raising are announced?
No not really.

Aud is driven by commodities, trade wars and interest rates. If copper takes a mad beating AUD will fall. If China enconmy weakens aud will fall. There are so many factors around the aud as it's a very sensitive pair but right now I would say it's not something I would trade but only on news. So if trump sparks a new trade war issue then I'll be shorting aud/jpy.
  • #989
  • Jul 22, 2018 11:37am Jul 22, 2018 11:37am
Quoting Samson85
I have been taking alot of money of my broker this year and this is not the 1st time they have done something dodgy. In the above pic you can see where I set my take profit. Now please tell me if this hit my Take profit!! I am speechless right now!!! {image}
Its happened to me countless times, its the old spread scam, where they hike up the spread over 10,20,30 pips and your TP is missed even after hitting it, then you come back to your screen convinced your trade is closed and a winner to find its reversed and hit your stop loss. #ScumbagBrokers
  • #990
  • Jul 22, 2018 12:44pm Jul 22, 2018 12:44pm
What about BoE interest rate on the August 2nd, do you think they will hike rate as planned?
  • #991
  • Jul 25, 2018 9:59am Jul 25, 2018 9:59am
very choppy month so far.. in the dead lights of the summer trading period. Not much fundamental themes in the markets as prices aren't moving as much. Perfectly fitting for range bound traders, not so much for trend followers.
Trade what you see, not what you think!
  • #992
  • Jul 25, 2018 10:25am Jul 25, 2018 10:25am
Quoting asianthekev
What about BoE interest rate on the August 2nd, do you think they will hike rate as planned?
Yes, according to me; they are going to hike rate according to the plan! Let’s see.
  • #993
  • Jul 25, 2018 1:47pm Jul 25, 2018 1:47pm
Quoting OMGtrader
very choppy month so far.. in the dead lights of the summer trading period. Not much fundamental themes in the markets as prices aren't moving as much. Perfectly fitting for range bound traders, not so much for trend followers.
Ecb tomrrow should create volatility and I feel it maybe to the downside.

We had nafta news today which effected cad and mxn but I didn't trade I am long on copper though
  • #994
  • Jul 25, 2018 3:06pm Jul 25, 2018 3:06pm
is there soemthing tweeted or what was causing big move last half hour in eur usd?
  • #995
  • Jul 26, 2018 7:20am Jul 26, 2018 7:20am
Quoting SPeedFANat1c
is there soemthing tweeted or what was causing big move last half hour in eur usd?
ECB rate decision happened.
Trade what you see, not what you think!
  • #996
  • Jul 26, 2018 9:51am Jul 26, 2018 9:51am
I traded the ECB press conference live (broke my rules slightly as I always trade post conference as anything can get said to change the tide)

Closed it for close to 40 pips
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  • #997
  • Jul 26, 2018 9:52am Jul 26, 2018 9:52am
Quoting SPeedFANat1c
is there soemthing tweeted or what was causing big move last half hour in eur usd?
Not to be rude but your comment is the reason why traders get burnt because they don't look at forex calendars.

I had so many people in a trading group telling me eur was to the upside based on moving averages and chart patterns.
  • #998
  • Jul 30, 2018 2:46am Jul 30, 2018 2:46am
Morning all

Big week ahead as we have boe and fed central bank major events.

Trades so far this week are gbp/USD and eur eur/sek

I just traded the eursek GDP release and it was 2.1 vs 0.5 which is massive deviation. Will look to hold until s3 and move the stop to breakeven soon

I took a long from last night hoping for a hawkish boe and a lacklustre fed this week.
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  • #999
  • Jul 30, 2018 3:32am Jul 30, 2018 3:32am
Hi samson85,
Been reading ur thread a long time but never posted anything. Truly educative and inspiring, must thank u for that. I joined ur forexchat group to learn more but just got removed by Joe Jeffery. How do I qualify to get back in? I'm aware the house was discussing basis for accepting new members lately. Thanks in advance.
  • #1,000
  • Jul 30, 2018 3:23pm Jul 30, 2018 3:23pm
The link below is a more established trading group which is more professional and run by a millionaire trader:

https://t.me/samuelandcotraders
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