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AUD/USD

  • #94,161
  • Dec 9, 2015 8:44pm Dec 9, 2015 8:44pm
Quoting Pip-Miner
{quote} Exactly I'm bearish on this pair so I traded the retrace pips are pips. I also traded the swings last night up and down . To say fundamentals have no place means you got no idea as that's what moves the markets.
Alrighty, i respect your say in this. Every trader has their own perspective, strategy and opinion.

Cheers!
  • #94,162
  • Dec 9, 2015 8:53pm Dec 9, 2015 8:53pm
Quoting SkyrEk
{quote} Alrighty, i respect your say in this. Every trader has their own perspective, strategy and opinion. Cheers!
Let's say that fundamentals are not THAT important to scalpers, but to me, who makes a few trades a year and then holds - fundamentals are all there is, everything else is for scalpers. Maybe it's time to get down a few time frames for me.
  • #94,163
  • Dec 9, 2015 8:57pm Dec 9, 2015 8:57pm
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #94,164
  • Dec 9, 2015 8:59pm Dec 9, 2015 8:59pm
Quoting cold chisel
{quote} Let's say that fundamentals are not THAT important to scalpers, but to me, who makes a few trades a year and then holds - fundamentals are all there is, everything else is for scalpers. Maybe it's time to get down a few time frames for me.
Trade in a time frame you are comfortable with buddy. For myself, i switch my time frame according to my activities for the day. If i am going to be away from my desk to run errands, i will look at the higher time frames. If i will be at my desk all day, lower time frame for scalps. The beauty of trading, everyone can do it differently yet at the same time, traders can still make money without follow one single similar strategy. I'm glad you are back in the game mate
  • #94,165
  • Dec 9, 2015 9:05pm Dec 9, 2015 9:05pm
Retraced in the blink of an eye now resume trend, set to go short on (3) or more.
SL @ break of upper channel line.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 10Dec15d.png Size: 62 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #94,166
  • Dec 9, 2015 9:10pm Dec 9, 2015 9:10pm
looks the job data is genuine.
  • #94,167
  • Dec 9, 2015 9:19pm Dec 9, 2015 9:19pm
Quoting yakuzaking
looks the job data is genuine.
Of course its genuine.

Its genuinely flawed
  • #94,168
  • Dec 9, 2015 9:21pm Dec 9, 2015 9:21pm
Quoting KecoaKecil
{quote} Job report unbelievable strong. Does not hit my buy limit, very disappointing for me. Reevaluating the chart for now. This week is not very profitable for me. ^_^
Can not either confirm bullish or bearish on this one. I stay out until next week then.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDiH4.png Size: 82 KB
Don't blame the tools. Blame the carpenter.
  • #94,169
  • Dec 9, 2015 9:50pm Dec 9, 2015 9:50pm
Lots of opinions, but I would say that we are gearing up for the next bull run up. You can look back to see my entry from the sister bottoms on the 4hr bar, and I am expecting that to continue higher, until it appears to me that it is no longer going to go higher. This next hour should see the acceleration of the next bullish run.

Trade your charts though.. not my advice.....

Good Trading Friends!
"Keep your eyes on the helpers" - Mr. Rogers
  • #94,170
  • Dec 9, 2015 9:58pm Dec 9, 2015 9:58pm
Quoting KecoaKecil
{quote} Can not either confirm bullish or bearish on this one. I stay out until next week then. {image}
JMO.. but your last blue channel line is prematurely placed. The run up may not be over yet, but you have assumed that it is. Making an assumption is the worst thing you can do in FOREX. Always go with the absolute true and concrete only.

Good Trading Friend!
"Keep your eyes on the helpers" - Mr. Rogers
  • #94,171
  • Dec 9, 2015 10:03pm Dec 9, 2015 10:03pm
Quoting lasty
{quote} Of course its genuine. Its genuinely flawed
It's political.. Let's just say it's not a true reflection , probably double it to get the true number. What can you do but trade what they give us.
  • #94,172
  • Dec 9, 2015 10:26pm Dec 9, 2015 10:26pm
Quoting Pip-Miner
{quote} ..... could of easily gone the other way but you seem to think trading through news is ok
Actually Pip-Miner's point is pretty right... a few of you guys seem to say "i saw it coming...because of this pattern...that pattern...etc" ----- on hindsight. For instance, a double bottom doesn't make for much in the face of news, because the news could have easily changed everything. take for example, the Euro after last week's ECB decision. technicals clearly pointed to the downside and 90% of the market anticipated it. in all certainty it should have happened, but the ECB's decision changed everything in a stunning way.

i tend to agree with the idea that fundamentals are still the underlying basis for my trades. because trading on technicals alone doesn't give me enough confidence and ive been caught out many times in the past by ignoring the fundamentals. the markets can move counter to it on technical indicators, bullish signals, etc... but when the fundamentals come out (e.g. a fact hits the wires) the market tends to reverse in the 'fundamental' direction very sharply.

for that matter...the fundamentals surrounding the AUD know seem quite muddy. which probably explains the 7000-7400 range we've had for the past few months. just my view
  • #94,173
  • Dec 9, 2015 11:02pm Dec 9, 2015 11:02pm
The Aussie jobs data is total nonsense, there's been much talk of that. The body which is responsible for it has been severely de-funded and their sample participants have been changed to some funny makeup.

That aside though, a lot of shorts were squeezed there. One might think that would allow net short positions to grow.

Personally, the closer we get to FOMC, the more scared I am of taking any large positions.
  • #94,174
  • Dec 9, 2015 11:25pm Dec 9, 2015 11:25pm
Quoting ell3
{quote} Actually Pip-Miner's point is pretty right... a few of you guys seem to say "i saw it coming...because of this pattern...that pattern...etc" ----- on hindsight. For instance, a double bottom doesn't make for much in the face of news, because the news could have easily changed everything. take for example, the Euro after last week's ECB decision. technicals clearly pointed to the downside and 90% of the market anticipated it. in all certainty it should have happened, but the ECB's decision changed everything in a stunning way. i tend to agree...
well said
  • #94,175
  • Dec 10, 2015 12:19am Dec 10, 2015 12:19am
NAB says the job growth is technical growth, the actual number is close to 5000.
  • #94,176
  • Dec 10, 2015 1:04am Dec 10, 2015 1:04am
by the end of the year neither bullish nor bearish just scalp both
All Things Are Possible
  • #94,177
  • Dec 10, 2015 2:03am Dec 10, 2015 2:03am
No new order today.PA sucks.
GL
do not stand out in the open with gun ;stand in the bushes with knife..
  • #94,178
  • Edited 6:00am Dec 10, 2015 5:37am | Edited 6:00am
It's 3 of 3 down isn't it? Hope I'm not the only one.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15 10Dec15e.png Size: 35 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #94,179
  • Dec 10, 2015 7:15am Dec 10, 2015 7:15am
if i am reading the chart correctly, downside resistance > upside resistance. if market is intended to go either way, it will no matter what the initial impact of data release. only very important data can change the game. the rest is BIG BC.
As Above, So Below
  • #94,180
  • Dec 10, 2015 8:35am Dec 10, 2015 8:35am
Quoting skyhok
It's 3 of 3 down isn't it? Hope I'm not the only one. {image}
you are not only one. I still hold my short...
​
Trust only yourself
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