Where price is now, it has been before, and will be again.
- #86,383
- Nov 3, 2014 3:34pm Nov 3, 2014 3:34pm
- Joined Nov 2012 | Status: Trader | 5,895 Posts
00:30 AUDRetail Sales (MoM) (Sep) 0.4%0.1%
00:30 AUDRetail Sales (MoM) (Q3) 0.5%-0.2%
00:30 AUDTrade Balance (Sep) -1.950B-0.787B
03:30 AUDInterest Rate Decision (Nov) 2.50%2.50%
macro data and decision UP or Down
00:30 AUDRetail Sales (MoM) (Q3) 0.5%-0.2%
00:30 AUDTrade Balance (Sep) -1.950B-0.787B
03:30 AUDInterest Rate Decision (Nov) 2.50%2.50%
macro data and decision UP or Down
00:30 AUDRetail Sales (MoM) (Sep) 0.4%0.1% 00:30 AUDRetail Sales (MoM) (Q3) 0.5%-0.2% 00:30 AUDTrade Balance (Sep) -1.950B-0.787B 03:30 AUDInterest Rate Decision (Nov) 2.50%2.50% macro data and decision UP or Down
- #86,388
- Nov 3, 2014 4:12pm Nov 3, 2014 4:12pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
Also, watch GBPAUD and AUDCHF. One moves opposite, the other in same direction as AUDUSD (generally speaking).
When they are all hovering at S/R levels, it becomes apparent, what the next move is.
GBPAUD hitting upward trend line, and horizontal S/R, and ready to drop
AUDCHF also at trend line and horizontal S/R ready to move up
AUDUSD at bottom of range, and trend line and ready to move up.
I highly doubt price drops more than a few pips below 8672, if that.
Also, NY daily close above the bottom of the range. Today was a very week attempt by the bears to get price out of consolidation. All they could do was gently place it at the bottom of the range, so it would be nice and easy for the bulls to pick it up.
Of course anything is possible, but I remain bullish on this pair, unless some sort of super bear move out of the range AND rejection of the bottom of the range.
Of course, even a bounce up would just mean that the war would continue at the 50% retirement level, which as price currently stands would be at last week's closing price around 8794. Guess we'll find out so on enough...
When they are all hovering at S/R levels, it becomes apparent, what the next move is.
GBPAUD hitting upward trend line, and horizontal S/R, and ready to drop
AUDCHF also at trend line and horizontal S/R ready to move up
AUDUSD at bottom of range, and trend line and ready to move up.
I highly doubt price drops more than a few pips below 8672, if that.
Also, NY daily close above the bottom of the range. Today was a very week attempt by the bears to get price out of consolidation. All they could do was gently place it at the bottom of the range, so it would be nice and easy for the bulls to pick it up.
Of course anything is possible, but I remain bullish on this pair, unless some sort of super bear move out of the range AND rejection of the bottom of the range.
Of course, even a bounce up would just mean that the war would continue at the 50% retirement level, which as price currently stands would be at last week's closing price around 8794. Guess we'll find out so on enough...
- #86,391
- Nov 3, 2014 4:23pm Nov 3, 2014 4:23pm
{quote} I certainly don't pay attention to it. The only thing I'm weary of are spikes caused by all the traders that do trade by it. It's been my experience that the price tells the whole story (aside from the meaningless spikes). If a big move does "result" from news, the price action would have told me about it long before the news announcement...
do you have same mystery going on ? 
- #86,392
- Nov 3, 2014 4:29pm Nov 3, 2014 4:29pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
{quote} sometimes I can hear how candlesticks talk to me
- #86,396
- Nov 3, 2014 4:40pm Nov 3, 2014 4:40pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
{quote} I agree.I also agree with your bias on the other pairs.Took profit on GBP/AUD and AUD/CHF too soon and plumped for AUD/USD and NZD/USD mainly because of the cracking swap and the less volatile movements( I tend to keep trades weeks/months). So long as I'm right on my accumulation theory, at the moment I'm getting around $15 a day added to my balance just for keeping the trades on!Cheers Oanda!
I should have kept my eyes on the bigger picture, i.e. H4 chart as posted above, and realized it would head to the top of that pretty bull flag formation, and matching S/R level...
Probably the biggest challenge for me (and most traders) is letting those winners run. I did a trade on GBPJPY on demo, just for fun, forgot about it, then remembered it a few days later, and went back and looked at 800 pips in the positive
Something I will always be working on to improve - maximize those winners
{quote} Yep, me too on GBPAUD, closed my long too soon, but still an okay profit. I should have kept my eyes on the bigger picture, i.e. H4 chart as posted above, and realized it would head to the top of that pretty bull flag formation, and matching S/R level... Probably the biggest challenge for me (and most traders) is letting those winners run. I did a trade on GBPJPY on demo, just for fun, forgot about it, then remembered it a few days later, and went back and looked at 800 pips in the positive
Where price is now, it has been before, and will be again.
Tomorrow we going to close the gap, stop loss hunting should be over
Where price is now, it has been before, and will be again.