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- PA is King commented Sep 11, 2014
I stand corrected, 60 selloff on that news spike.
So just to recap, Aussie had amazing jobs data, we had a big 5min spike in price followed buy a 60pip selloff back to pre-news levels. Absolutely no follow through on any buying. Meanwhile e/u and ...
Australia Labour Force
- PA is King commented Sep 10, 2014
Not unreasonable at all! We may have slightly different trading styles, but you usually have good comments!
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 10, 2014
That's a little too far out for me to think about. I'm looking for .9060 area near term. Probably not this week...maybe next week. Of course, we could just go sideways for a week and then get a pullback before another selloff. I'm more of a day ...
Australia Labour Force
- PA is King commented Sep 10, 2014
I could go along with that...I was actually looking for that yesterday before the 100pip selloff from .9215 just after the Asian session got going. Lets not get carried away. I have losses just like everyone else. Lets face it, Forex trading is just ...
Australia Labour Force
- PA is King commented Sep 10, 2014
Make that a 40pip selloff from that spike up now.
Australia Labour Force
- PA is King commented Sep 10, 2014
Nope, sell the rallies! Yep, sell the rallies is what I've said...and it's already sold off 30pips from that spike up! Good old Pump and Dump!
Australia Labour Force
- PA is King commented Sep 10, 2014
I think the expectation(forecast) is too high for tonight's Aussie jobs data...since I trade probabilities I see: 1) the numbers are worse than expected and price sells off 2) price is as expected and doesn't impress the market so price sells off or ...
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 10, 2014
Things look good for me to short...seems we've had a nice pullback and stalled at .9160. I also think we'll have a selloff after Aussie news tonight. We'll see! Happy Trading!
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 10, 2014
Well, there you have it....nearly 300pips in 3 straight trading days. That's pretty impressive. I'll admit, I never saw that coming. Technically, I don't even see any real support levels until reaching .9060-70 areas at best! I hope I'm wrong ...
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 9, 2014
I'm pretty sure the selling isn't over yet, but I can't sell the lows. We had a 100pip selloff on Monday, 100pip selloff on Tuesday, might as well make it another 100pips on Wednesday down to .9100 area. But for me, it's just not good risk/money ...
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 9, 2014
Yeah, I see that .9217(.9220 prior support turned resistance area) on the 1hr. But per my rules, I couldn't enter there. Need some time of pullback/rally to short. That's just my rules though.
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 9, 2014
Alright guys and gals, I've officially changed my long standing Long bias on Aussie to Short! I'll be looking for rallies to sell. Hopefully tomorrows Aussie jobs data will provide that opportunity. For now, it looks like Aussie is just trying to ...
Australia consumer sentiment spanked on bubble fears
- PA is King commented Sep 9, 2014
Well, the Daily chart finally made a lower low...and it did dip below .9200, but didn't close below it(barely). I'm going to watch from the sidelines at the moment because it could go either way at this point. Trade Smart!
Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 9, 2014
Have we reached capitulation yet? Getting close to that major .9200 support/psych level. A low of .9221 so far today...if price stalls out here and can't close below .9200 today, I know what I'm doing!
Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 9, 2014
Yeah, the currect FX rules in the US are HORRIBLE. I wish they would get rid of the 50:1 max leverage and the FIFO rules. Those are serverly hurting my ability to make good profits. Nice job on your trade!
On a side note, I'm closing this trade ...Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 8, 2014
Hope it works out for you. I tend to wait until the trend reversal is confirmed before trading in that direction. Cheers!
Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 8, 2014
Thanks dancingphil. I can't speak on fundamentals that much since I don't really follow them(except interest rates). I think we have different trading styles and I'll just leave it at that.
p.s. I'm long at .9260 now. We've had a 150pip selloff ...Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 8, 2014
Well, perhaps the time is here...looks like we are finally getting a lower low on the Daily. Now to see if there is any follow through and close below .9200. There's still good support levels around .9250, .9220, and .9200 that need to be taken out. ...
Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 8, 2014
Lower highs I agree with on the Daily. But you can't deny Higher Lows either. Basic Triangle pattern. I'm fully aware that price does not trend one direction only. It will go up for a period of time and then down for a period of time...then repeat ...
Why a collapse in China’s housing market will hurt Australia
- PA is King commented Sep 8, 2014
Long at .9285, See if this trade works out better. update: closed trade for breakeven just before news came out.
Why a collapse in China’s housing market will hurt Australia