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AUD/USD

Aussie Triangle Break up? i'm looking for a retrace to try buy back
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out of business
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0.6722 is acting as support.
Quoting amenocy
out of business {image}
I've been out of business many times. Thing is, we think we will trade FX and get rich, instead we fall down a deep well of self discovery . I frequently tell people my biggest lesson of the last few years ( I just turned 47) is to learn to forgive myself. In FX we are faced with fear, greed, ecstasy, it's a lot for a mind to process. Forgive yourself and when you're ready get back in the saddle with a $100 account ( or $20 if thats all u can afford) and explore your psychology within a money pot that won't break your heart. I have discovered after 4 odd years that there certainly are limitations to technical and fundamental analysis, the best we can do is try catch a ride in the same direction as the train and not get greedy

BTW I saved that image. True story right there

Cheers h
Quoting Traderview
As expected it will hunt the SL above 0.6725. Added shorts at 0.6740. Expecting it go further down after the US open. Tomorrow is RBA.
Closed it @BE. Waiting sidelines and for LO.
Quoting Traderview
As expected it will hunt the SL above 0.6725. Added shorts at 0.6740. Expecting it go further down after the US open. Tomorrow is RBA.
There is some momentum up in this move, so, serious drop is not expected until Tuesday-Wednesday
I don't trade anymore. I just gratefully accept what Market has to offer
Akhaldanos FX1 Return This Month: na
Quoting Akhaldanos
{quote} There is some momentum up in this move, so, serious drop is not expected until Tuesday-Wednesday
I have already entered shorts @0.6765. I'm already in nearly 35 pips profit. IMO, the trades above 6722 is not sustainable. This was my range 0.6500 - 6750. As long as daily closes below 6730 the shorts are fine. Tuesday and wednesday we will see closing below 0.6615.
Quoting Traderview
{quote} I have already entered shorts @0.6765. I'm already in nearly 35 pips profit. IMO, the trades above 6722 is not sustainable. This was my range 0.6500 - 6750. As long as daily closes below 6730 the shorts are fine. Tuesday and wednesday we will see closing below 0.6615.
Closed @0.6722. with +43 pips profit. Will enter again around 0.6737 - 0.6742.

Get in and get out.
Placing Shorts here, not expecting a bullish statement tomorrow.
Quoting dondealova
Aussie Triangle Break up? i'm looking for a retrace to try buy back {image}
hoping for a retrace, from this increase I would be prepared to open a short position, of course with an in out scheme
Entered shorts again @0.6740. I'm going to let it run until tomorrow RBA, maybe even longer with the TP of 0.66.


Lets see
Seems like no one is bullish around here. Strange. Chart structure is clearly strong. Of course one can scalp-sell here and there for the pull-backs but IMO the long trade is the easier one, until a clear exhaustion of upside momentum presents itself. Stopping a freight train takes some time, it's not like flipping a coin...
I don't trade anymore. I just gratefully accept what Market has to offer
Akhaldanos FX1 Return This Month: na
Quoting Akhaldanos
Seems like no one is bullish around here. Strange. Chart structure is clearly strong. Of course one can scalp-sell here and there for the pull-backs but IMO the long trade is the easier one, until a clear exhaustion of upside momentum presents itself. Stopping a freight train takes some time, it's not like flipping a coin...
Hi, whilst we got out of the woods with Covid-19 I do expect some USD strength over the coming days.
Buying aud here stop below support
Master your mind. Master Trading.
Adding a bit more longs here
Master your mind. Master Trading.
Quoting princeali115
Adding a bit more longs here
Lol I see you on here too?? XD I just exit this pair as it trend to hard especially EuroAud. Expecting a small retracement. Currently I am just looking to reload on here.
Trade what you see, take what the market gives you.
I know maybe stupid question. But does anyone have an Idea why we had the large moves 3 weeks in a row on a Monday in AU? None of the weeks there has been any really news out during the weekend, and all of these 3 mondays the market openes down initally during asian market the first hours then to make very strong moves up?
You are likely to get various explanations, after the effects. None of them will be of any good use for present or future trading decisions.

KP

Quoting krst8
I know maybe stupid question. But how come, anyone has an idee why we had the large moves 3 weeks in a row on a Monday in AU? None of the weeks there has been any really news out during the weekens, and all of these 3 mondays the market openes down initally during asian market then to make very strong moves up?
Do your homework, follow the footprints of smart money
Quoting krst8
I know maybe stupid question. But does anyone have an Idea why we had the large moves 3 weeks in a row on a Monday in AU? None of the weeks there has been any really news out during the weekend, and all of these 3 mondays the market openes down initally during asian market the first hours then to make very strong moves up?
All I can say is that it is combination of things. As usual S&P going up again, USD getting hammered again, RBA and GDP news in coming days and opening up of economy.
They did avoid worst of Covid and are opening up the economy. This makes it easier for RBA to not throw more money and not to mess with interest rate. Keeping rates steady is good news for the market.
At some point dollar will come back, we will see how AUD holds. For now, it is bullish atleast for short term.
The thing I don't get it is the reason AUD's sentiment in general on FF and other sites are on sell side. 79 % are expecting drop last time I checked.
Quoting krst8
I know maybe stupid question. But does anyone have an Idea why we had the large moves 3 weeks in a row on a Monday in AU? None of the weeks there has been any really news out during the weekend, and all of these 3 mondays the market openes down initally during asian market the first hours then to make very strong moves up?
I wouldn't think too much into it. Charts show uptrend is in place.

I have watched NFP with strong numbers fall on a public holiday and it just doesn't budge until after the weekend.

On that note, I've also seen price go the opposite direction to what news suggests... so best to use stops, risk management and read the charts as best you can. i was wrong too - i said AU was bearish the week it closed at 64.15... on monday it just sky rocketed, i didn't trade it luckily but damn it would have hurt if i had
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