a beginner's attempt at the pairs

[big mac]

Short EURO 10595

Stop@10630

Stopped -35

Total pips to date: +489

 

[big mac]

Audusd, on 1 m, I am waiting for double bottom, made a small profit at expected spike but now aiming to get bigger profit.
Usdjpy, on 30 m, it's going through a correction but on a micro scale, it's having a bull trend, so just waiting for it to depreciate below ma100.
Eurusd , not really interested at the moment...

Are you still long AUD?

JPY my tradget 113 or just a few 10's of tick below

 

[big mac]

I'm looking to short AUD come Monday. I'll see how hot it opens..

 

[victorycountry]

I'm looking to short AUD come Monday. I'll see how hot it opens..

Let's check the date for interest rate change in US dollar.
Usually prices go oppositely until there is a change in the interest rate.

I certainly do take a short position when there is a bear trend but I will NOT take a short position when it is in a bull trend . Having said, I will more focus on long positions as I feel safer moving in the same direction as market maker than moving in the direction of commercial traders whose trading motivation is solely for hedging (than information motivated).

I haven't checked the AUDUSD chart yet, but last time when I checked it was still having bullish sentiment

 

[victorycountry]

Reported short and long positions for November, 2016
- clearly there is still a bull trend in AUDUSD

 

[victorycountry]

Consider a short position in EURUSD than AUDUSD- speculators overall position in November tells that it anticipate a bear trend in the near future

 

[big mac]

Let's check the date for interest rate change in US dollar.
Usually prices go oppositely until there is a change in the interest rate.

I certainly do take a short position when there is a bear trend but I will NOT take a short position when it is in a bull trend . Having said, I will more focus on long positions as I feel safer moving in the same direction as market maker than moving in the direction of commercial traders whose trading motivation is solely for hedging (than information motivated).

I haven't checked the AUDUSD chart yet, but last time when I checked it was still having bullish sentiment

Huh...interesting. I'm looking at a H&S forming on the 15 min. What's the source of that data?

 

[victorycountry]

Huh...interesting. I'm looking at a H&S forming on the 15 min. What's the source of that data?

Actually what it means is that commercial traders are taking short positions . You anticipation might turn out to be right. But the fundamental information about AUS economy is not too bad so I think that it won't depreciate much. They have been keeping both unemployment and inflaction constant. Speculators will enter on the other side by taking long positions and prevent the prices getting destablised by commercial traders - which is what I am keen to follow for AUSUSD next week. Just be careful when you take a short position, price might become too volatile.
You take a short position, I will wait for you on the bottom of a price - buy low and sell high

The source is from U.S. Commodity futures trading commission

 

[victorycountry]

AUD futures contract for March 2017

 

[victorycountry]

so this is why Xela was so confident after all...using futures contract price/volume to predict future price. It's relatively easier when there is a sign of future direction of a price especially, when the spot price is excessively deviated from futures contract price (when there is no change in fundamental information) - the law of one price principle, I get it now !