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AUDUSD Trading Pit

  • #41
  • Feb 24, 2016 5:12pm Feb 24, 2016 5:12pm
Quoting georgemoon
shows the reason why we saw aud drop. {image}
Kindly explain what the chart is showing.
  • #42
  • Feb 24, 2016 5:12pm Feb 24, 2016 5:12pm
Quoting bloodpoodle
silly trader thinks good news automatically = up Keep trading the news and not the levels... Makes me lots of money! If Trading were as easy as buying after good data... We would all be Very wealthy!
the data was positive, charts are bullish, therefore negative reaction to news was something weird. usually under such circumstances price quickly retrace. this time it is trying to hold. maybe this is due to greater bearish sentiment and preparation for a deeper fall. even though i am holding audhkd longs, actively looking for selling opportunities, just need better price than right now.
As Above, So Below
  • #43
  • Feb 24, 2016 5:15pm Feb 24, 2016 5:15pm
Quoting tashkent
{quote} lol. i am little surprised, did we just drop about 30 pips after a positive data release? wtf is going on?
Classic, big guys already knew and are using the news to suck a little out of the ones buying resistance to keep the help payed , if they didnt know they sold resistance , if ya bought because of the positive news , guaranteed your filled in the green circle or already stpped out, now bout the time ya give up and go the other way the market will take out the resistance because the news was positive, gotta love news man lol, all a chess game
Attached Image (click to enlarge)
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  • #44
  • Feb 24, 2016 5:22pm Feb 24, 2016 5:22pm
Quoting digger1
{quote} Classic, big guys already knew and are using the news to suck a little out of the ones buying resistance to keep the help payed , if they didnt know they sold resistance , if ya bought because of the positive news , guaranteed your filled in the green circle or already stpped out, now bout the time ya give up and go the other way the market will take out the resistance because the news was positive, gotta love news man lol, all a chess game {image}
its really not that complicated. News looked positive traders bought, news turned out to be negative as all the capex forecasts have been dropped = bad for economy. price goes down. Have a look on the chart on page 1 i posted.
  • #45
  • Feb 24, 2016 5:23pm Feb 24, 2016 5:23pm
Quoting digger1
{quote} Classic, big guys already knew and are using the news to suck a little out of the ones buying resistance to keep the help payed , if they didnt know they sold resistance , if ya bought because of the positive news , guaranteed your filled in the green circle or already stpped out, now bout the time ya give up and go the other way the market will take out the resistance because the news was positive, gotta love news man lol, all a chess game {image}
exactly, a chess game.
this drop filled my second audhkd buy order as was expecting they would play something like that
but the problem is, it is taking longer to go up again than it usually does. so now thinking maybe this move was legit. i will bail out longs if go below today's lows
Attached Image (click to enlarge)
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As Above, So Below
  • #46
  • Feb 24, 2016 5:27pm Feb 24, 2016 5:27pm
You will never be Consistently profitable trying to buy good data and sell bad data. In Fact the pros target retail that trades that way.

Buy as sell at price levels that provide you a good risk/reward. Use to market structure to find the opportunities.

Learn how price moves.. Not why price is moving.. Too many people ask why!

I hear this all the time.. "Why did price jump or fall".. WHY is not important.. Start paying attention to predictable price movements and areas of market structure they are likely to occur .... you might have a chance in this business!
The only system that will work is one designed by and for yourself.
  • #47
  • Feb 24, 2016 5:28pm Feb 24, 2016 5:28pm
hoping this weekly pinbar eventuates. some more mining unwinding and maybe news from china to get the ball rolling.
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  • #48
  • Feb 24, 2016 5:28pm Feb 24, 2016 5:28pm
M30 view of the 4 hour I posted, not saying that pattern is valid , just something Im watching
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  • #49
  • Feb 24, 2016 5:34pm Feb 24, 2016 5:34pm
will keep an eye on my 4h. 30M to close. close below 7160 will bring chaos
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As Above, So Below
  • #50
  • Feb 24, 2016 5:37pm Feb 24, 2016 5:37pm
Quoting tashkent
will keep an eye on my 4h. 30M to close. close below 7160 will bring chaos {image}
lol, shooting for chaos all the way to last weeks low at 7068, sure a bit of a stop at the weekly pivot , if and when it goes
  • #51
  • Edited 6:15pm Feb 24, 2016 5:38pm | Edited 6:15pm
longer term i think were at 68/67 area. this move i think were good for 7120/71. 71157 is the daily S2 and u see usd looking strong going into tonight so....


edit...or maybe not...looks like the 50 fib is gonna hold it
  • #52
  • Feb 24, 2016 5:38pm Feb 24, 2016 5:38pm
Quoting georgemoon
hoping this weekly pinbar eventuates. some more mining unwinding and maybe news from china to get the ball rolling. {image}
2 more days to go but if Weekly closes at current levels or below, next week will be fun to trade
As Above, So Below
  • #53
  • Feb 24, 2016 7:56pm Feb 24, 2016 7:56pm
long 7169. 30 pip sl. tp 60 pips
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As Above, So Below
  • #54
  • Feb 24, 2016 8:46pm Feb 24, 2016 8:46pm
Quoting tashkent
long 7169. 30 pip sl. tp 60 pips {image}
Trickey, yen showing some weakness atm, Aud sellers trying to keep it under what was support on the left, it has been broke, left side was using these levels for support , they are resistance now they are being sold, this area is a pivotal area on my daily chart getting interesting.
Attached Image (click to enlarge)
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  • #55
  • Feb 24, 2016 9:35pm Feb 24, 2016 9:35pm
Quoting digger1
{quote}Trickey, yen showing some weakness atm, Aud sellers trying to keep it under what was support on the left, it has been broke, left side was using these levels for support , they are resistance now they are being sold, this area is a pivotal area on my daily chart getting interesting. {image}
i am seeing higher low in smaller tfs and emerging right hand of W pattern
As Above, So Below
  • #56
  • Feb 24, 2016 9:49pm Feb 24, 2016 9:49pm
Quoting tashkent
{quote} i am seeing higher low in smaller tfs and emerging right hand of W pattern
yep, lets take another crack at the 7208 level then the quarterly pivot
  • #57
  • Feb 24, 2016 11:00pm Feb 24, 2016 11:00pm
Quoting digger1
{quote}yep, lets take another crack at the 7208 level then the quarterly pivot
If the next hrly candle turns bullish you can set your sights on 7235.
Look Left Trade Right
  • #58
  • Feb 24, 2016 11:29pm Feb 24, 2016 11:29pm
Quoting Basill
{quote} If the next hrly candle turns bullish you can set your sights on 7235.
I had to bail at the daily pivot , I just cant buy this unless it gets back above one of these levels, just shorts for me until that happens
  • #59
  • Feb 24, 2016 11:53pm Feb 24, 2016 11:53pm
Clears the pivot it may have something this time
  • #60
  • Feb 25, 2016 12:50am Feb 25, 2016 12:50am
Quoting Basill
{quote} If the next hrly candle turns bullish you can set your sights on 7235.
Shorts are looking better. Also divergence on 15m. If so 7095 would be target.
Look Left Trade Right
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