Position Trading AUD/USD

So this same candle was bid heavily two times and I brought some on the bounce but go washed out mostly in the chop when May spoke and the spread went wide as.. plus I didn't have much screen time, which is funny because I started this 'style' in order to have time away from the screen, yet I was going to sit and watch? lol

So mostly watching to see if this demand fails next touch, hopefully then we can resume the downtrend! *wish*

If we end the week in this small range the weekly bars will start to look interesting and we could get a big push either way.

Well Fridays battle over 0.7235 was enthralling! unfortunately I was out and busy so couldn't follow it much, but it was cleared out by the close so perhaps that's the last of the big buyers there?

Monday morning has RBA gov speaking so it could be action stations. Could be a lot of complaining about the banks and how they don't listen to the RBA anymore.. who knows, and the RBA saying the economy is looking hot and cold so lets all just stay calm and wait for the crisis to hit us? lol

Will be watching 0.7250 as at Fridays close it seems to still be getting late bids at 0.7230 or so, so perhaps another run up 0.7270 is possible?? with the big gap down at 0.7183 to 0.7125 still open for abuse it's fingers crossed.

Got a nice run up as it 'respected' the lines and then back down again. I tried to trade the plan but my longs got stopped out at BE as I tried to minimize risk too early.. only to have one or two of them hold and then I sold the top and the same sort of things happened meaning I made not a lot out of what I kind of planned for.

Also during the move up one source of info said to sell during the middle of it so I tried to close out a lot of longs and shorts to minimize exposure.. so part way through it seems my plan went out the window..

A bit of a spike up was sold just now, so hopefully this continues down into this new zone.. trying not to fall in love with a position or bias of course, but this is the frustrating thing!

So the red flag was cleared out and found support just now, so watching that to see if we go higher. fell in love with the downside and the market proved me wrong.. not so bad, but will need to cover it at some point.. maybe sell the top of this range for a test of 0.7260/80 is a plan? buying in if if finds some support there.. currently very net-short

Also working on two other systems, scalping in one and mixed trading in another as we go into the Xmas break, I will have more time so will see how we go!

bouncing on some support here

And up we went again!.. I didn't buy into much of Fridays bounce because I was busy on another account.. wish I would have! so tried to sell the highs and hoping it comes down some more: currently looking at this, trying to buy in again while being net-short still.

Need to get more aggressive at the extremes (note to self ).

Nice drop and did NOT 'respect' trendlines

worst case it might head back to 0.7300

Identified : the elusive and ultimate elliott tripple combo wave?

Failed to get any momentum up on Friday and it's back at 0.7200 so perhaps its lining up for a push south next week, next stop is potentially 0.7100

Very NICE Charts..hope you keep posting

Gidday & Good Fortune, I too will looking for SHORTS on AU mon am, 4x1hr touches of prev s/r dotted line ,the "gorilla " pivot (green ) is lower than fridays and below the "davits" weekly fibo pivot . Ill be happy if it goes to S38 , just my 2 bobs worth DYOR , Remember its YOUR MONEY RALPH .... cheers Sp

Yeah maybe shorts have the power into the new year? Currently trying to average my exposure in a bit as my long/short exposure spread was 80+ pips

Will watch these two 'magnet zones' to see what happens as I try to figure out if I should be buying or selling..
with 0.7150 as a very long term s/r -- so if it breaks I plan to be selling the pullback fast (I hope) GL!

Got the push through 0/7150 sooner than I thought as I thought we might be stuck in low xmas volumes, but apparently not, so brought into the low for the pullback to 0.7150 to sell some more.. didn't really smash it like I planned but the intention was there

survived the big drop even though I was net long, so that's something I guess... could have cashed in if I had take profits set but I didn't and never do so maybe I will set them at 150p or so.. I was away for work this week and that's my excuse for not making more out of it, evn though I had some sell orders that missed a fill on Dec 31st by about 5 pips so that kinda sucked!!.. the recovery has been huge though so who knows as price is back in a volume node so will see which way it breaks from here, will buy .7000 and sell .7100, see if it's a new trend maybe or maybe 0.7000 is the new number to play.

Best guess for a plan assuming normal vol..

Seeing we are above 0.7150 and if we can't get back to 0.7100 soon then perhaps it will continue upwards.. seem about right because I'm net-short again, lol

My 50pip 6 day boxes don't seem to have a purpose so far this year..

Looking at the volume zone (0.7135) + 0.7150 as a long-term price magnet and a potential bull-flag :

Fell on low volumes this morning, so waiting for some volume bars to come in to see which way it gets pushed. If it pushes down to 0.7130 the I will need to start selling the pull-back to 0.7150 as it may mean the buyers have lost control.

Watching this orange zone to see if its lows are brought as there seems to be a battle for control of 0.7200

a push out of the orange box and I think longs are still good, a drop under it tonight and back into the channel and it might be going down to re-test 0.7150 again, where it looks like another up-channel is forming. ..

Account DD currently 6% ; Growth since Nov 1st 2018 ~16% (even if i can tread water in DD and get another 10% out of it by Oct I'd be happy with that ) . To get 15-30% out of a property developer you need to tie up 100k for 3+ years and risk it all basically, this seems safer by that metric!