Dislikedwe broke a new high for the week I don't know if people were expecting a 100pip move right off the bat but I only wish markets worked like that.
News release=news traders who are in and out constantly in the first hour. Once the orderflow is back to more norm levels the trend will establish itself or range either way don't pay to much mind on the news hourly bar its only noise.Ignored
- #53,624
- Oct 10, 2012 6:21pm Oct 10, 2012 6:21pm
- | Joined Oct 2012 | Status: sutatS | 3,461 Posts
have fun mate,
see you tomorrow
see you tomorrow
HelloOz
TY for those tweets nice perspective from them.
I am off for now this is not a bear day and wont be if we close above 1.0275. If we do come down My phone will alert me. Otherwise off to dinner and have good night all.
- #53,626
- Oct 10, 2012 6:53pm Oct 10, 2012 6:53pm
- Joined Jan 2010 | Status: Trader | 10,268 Posts
AUD chart speaks for itself...it was simply a knee-jerk reaction to the news released.
As stated earlier today, look at all of the other majors. It is Risk Off so everything goes down against the USD. Some will go down slower than others, however, they will all fall against the greenback.
The EUR, CHF, GBP, & CAD when combined represent over 80% of the USDX. Isn't it pretty obvious that if those 4 mentioned currencies are going DOWN against the USD then most (if not all) other currencies are also going to be moving down against the USD?...
Heres me being bold here....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #53,628
- Oct 10, 2012 7:01pm Oct 10, 2012 7:01pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
- #53,629
- Oct 10, 2012 7:24pm Oct 10, 2012 7:24pm
- Joined Sep 2011 | Status: Minor crosses. Major pips. | 3,701 Posts
Time turns trend. - W.D. Gann
- #53,630
- Oct 10, 2012 7:28pm Oct 10, 2012 7:28pm
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #53,631
- Oct 10, 2012 7:52pm Oct 10, 2012 7:52pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
AUD chart speaks for itself...it was simply a knee-jerk reaction to the news released.
As stated earlier today, look at all of the other majors. It is Risk Off so everything goes down against the USD. Some will go down slower than others, however, they will all fall against the greenback.
The EUR, CHF, GBP, & CAD when combined represent over 80% of the USDX. Isn't it pretty obvious that if those 4 mentioned currencies are going DOWN against the USD then most (if not all) other currencies are also going to be moving down against the USD?
So...
Always remember that we are trading an instrument comprised of two different currencies. Each currency is sensitive to different things.
In each trade we take it is our job as traders to understand which currency is driving the move. This is what the importance of understanding correlating pairs and analyzing correlated markets comes in.
Risk-on and risk-off are broad sentiments given to overall market direction and appetite for risk.
Risk-off for example broadly strengthens usd/jpy/chf/treasuries. Wheres risk-on equates to a sell-off in these currencies.
While the market was risk off overall from the earlier drop due to FA factors this move in the Aussie dollar was purely aussie driven. Which is why flows came out of the EUR/NZD/GBP etc into the australian dollar.
It explains why the AUD/NZD moved so hard ( i.e. http://clip2net.com/s/2nTgy ) In broad risk based moves typically the non-usd/jpy pairs are only mildly affected.
So since the Aussie is strengthening against EVERYTHING it is localized "Risk-On" sentiment with flows toward the australian Dollar... at least temporarily
and thats why Im buying dips right now...lol
- #53,632
- Oct 10, 2012 8:03pm Oct 10, 2012 8:03pm
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #53,633
- Oct 10, 2012 8:06pm Oct 10, 2012 8:06pm
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Hey brother one quick little correction. Im just saying this to help fellow traders in here in knowing how to properly utilize "risk-on" and risk-off" while trading.
Always remember that we are trading an instrument comprised of two different currencies. Each currency is sensitive to different things.
In each trade we take it is our job as traders to understand which currency is driving the move. This is what the importance of understanding correlating pairs and analyzing correlated markets comes in.
Risk-on and risk-off are...
crystal clear
Edit : looks pa waited for my applause
Mohan
- #53,634
- Oct 10, 2012 8:11pm Oct 10, 2012 8:11pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
It still may grind up a bit higher.... pushing for the 83 area.... We will see.... Im scalping long from the 45 till we get a break
68 is a roadblock here... but we should blow through it after a minor hiccup
- #53,635
- Oct 10, 2012 8:11pm Oct 10, 2012 8:11pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
crystal clear
Edit : looks pa waited for my applause
- #53,636
- Oct 10, 2012 8:11pm Oct 10, 2012 8:11pm
- Joined Jan 2010 | Status: Trader | 10,268 Posts
Woops there goes.... jumped the gun too early there... 
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #53,637
- Oct 10, 2012 8:16pm Oct 10, 2012 8:16pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
Woops there goes.... jumped the gun too early there...
- #53,639
- Oct 10, 2012 8:19pm Oct 10, 2012 8:19pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
Loading on further shorts, will keep loading shorts till 1.0325 if it ever reaches there.
