AUD/USD

^ This, and also cockiness tends to come back to haunt you in this market

End this 5wave, abc corrective, then 5 wave to target on chart. Void if break 10740.

news time
Home Loans m/m
should give bad reading let see

edit : i am wrong again , i don't where is homes get sold nothing here in my suburb

closed
not much of a trade but will wait for a clear direction

It seems one should always trade the opposite of logic with this pair good news/data = down, bad news/data = up

I am short at 1.0590 with TP: 1.0400. The weekly chart shows a major hammer formation at the ~1.0755 level (with a fake breakout last week). Just going by what I see, that's all.

news have nothink to do with this move down , after effect of Greece news (after realizing greece voting close to null until Germans approve it )

Humility is very important to the learning process my friend..

Tweezer top @ wky pivot gave almost 1/4 rr for gap fill, all at even..GL!

Why do I have to show you my tp and sl?!?! I have guided others in the DIRECTION OF THE MARKET I think thats the most important thing of all. I'm not being cocky time and time again ppl keep getting burned by shorting a high yielding pair esp just because it broke out a bull channel, look at where it is. Trying to pick tops is like finding a needle in a haystack for most traders.

That's aright you don't have to listen you can keep losing your money.. cya

btw I don't trade single pairs I take baskets that way a stop hunt on a single pair won't take me out most of the time.. statistically I have a better chance of surviving my trades as I trade with a wide market view instead of trying to trade based on behavior of a single pair. Basically JPY+USD vs all others... even though that is breaking down now aswell as I see JPY going down and USD going up in med/long term.

If I was to try to pick tops/bottoms I would at which currency index was the most OS vs the most OB and trade that... if there was a market turn around you can bet that big money would probably take the biggest profits/new positions on this pair since it has moved the most. Again this is just generalizing and sometimes doesn't apply esp in this market where all correlations are breaking.. too much money being thrown at the problems that are unfixable.

I would also factor in cost of trading ie spread and swap. If you are scalping thats fine, in that case would you really scalp AU when EU or UJ has less spread? If you are building positions short it may cost you more in the long run because of negative swap trying to short NU or AU... when you know europe is messed and if AU goes down EU should aswell. If all is well, and US comes out with good nums or there is QE talks then AU is a win win, even better is AJ. Otherwise I'm staying away, to each his own.

Look like will form divergence.. and will sell again

Out +87 @0737

Anyone going short at this moment ??

nope good long

Only you !!

mornin' all, nice trade stulic! if it breaks the 750 resistance I think I will also go long

Copper and major futures are all up set to open higher, risk is on so shorting might not be the best idea yet, wait until Europe shows direction while keeping in mind it's only Monday, market will have to chew through and spit out everything regarding Greece, just wait till they start flooding the newswires with Portugal and downgrades, same old same old...

also retailers according to Oanda are busy shorting major pairs, as stupid as they are on Greece news, you can go on bb's side to take their money.

The first move by retailers at the start of the week usually sets the tone for the whole week aswell.

that's cheeky !

Anyway taking with a grain a salt... i'm with you guys !

Wats the level to tp ? 1.0765 or open for now ?

I took this sell trade after the trendline break(as per chart) on D1 chart. I thought AUDUSD was nearing the verge of a correction after an exhausted extension. Do u think I should get out of this trade now, since I see the Sunday and today's candle bullish so far.

May be you are right with the sell after trend line break. But you should have waited for a pull back after the break. So, now may be a good short entry. However, AUD is damn bullish so far and since they are maintaining 4.25%, i guess this pair might go up further. Given the trend line is broken i have opened a small short now @ 740. If the move towards south is confirmed, i will add some more shorts.