AUD/USD

[ukulele]

I traded the release. The follow through wasn't great and I got stopped out for a slight gain. I had a thread on here
"trading the news, is it possible to be profitable". But no one seems to?

I also traded the NFP friday night but again, follow through wasn't there, broke even.

The biggest moves I have ever seen have been on unexpected news, why not use that to your advantage?

 

[cogs]

"trading the news, is it possible to be profitable". But no one seems to?

I think (and I wish it was available to me), you need to see the large data and volmues that is available, and the anticipated Bid/Asks at that period of time. I personally do not attempt to trade news unless like you, I can see follow through.
The past few years I have become very accustomed to MT4 which uses a bridge type (delayed) data feed so orders cannot get filled during fast moving news events, and even if the banks choose to accept them anyway. Have been tempted to go back to futures.

The biggest moves I have ever seen have been on unexpected news, why not use that to your advantage?

Yep, agree, Brexit was a prime example. All the punters were buying, pumpndump distaster waiting to happen.

 

[CanOz]

Hang in there Cogs, I'll post more next week when I'm back on the desk full time!

 

[cogs]

Cool! I know trading is a solitary affair, but it's good to bounce some stuff around sometimes.

 

[ukulele]

be aware all: china GDP can come out early, its due at midday Aus Eastern.

Sometimes moves the aussie; sometimes markets pay no attention to it.

 

[cogs]

Any idea of expectations?

Forcast 6.6%, but china's data tends to be questionable.

 

[CanOz]

I don't reckon this will move the market that much, unless its a surprise and i mean really, how could a lie be a surprise

Some nice coiling in the AUD now...

 

[ukulele]

China's data is hugely questionable. I also agree that this won't move the markets much, they do love to surprise once and a while though.

 

[cogs]

Shorts are on, with help from the GBP move up (GBPAUD pressure) I think it's time for a AUD decline, it's not a nice top but time will tell.

AUDNZD has been roaring to fill the gap, waiting for it to run out of steam in the next few days maybe.

 

[ukulele]

re: GBPAUD. Wasn't watching the screen at 9pm last night... Was my kind of news move.

 

[cogs]

re: GBPAUD. Wasn't watching the screen at 9pm last night... Was my kind of news move.

Might have legs up 1.80+

 

[CanOz]

AUD liked this:

12:00*(CH) CHINA JUN INDUSTRIAL PRODUCTION Y/Y: 6.2% (3-month high) V 5.9%E; YTD Y/Y: 6.0% V 5.9%E - Source TradeTheNews.com

 

[cogs]

Hmm, got out of my shorts.

 

[CanOz]

I was long before the announcement, wasn't expecting much...Also long aud/cad short eur/nzd and long nzd/usd

 

[CanOz]

Copper exploded on that news as well...missed that one and i'm not going to chase it

 

[ukulele]

Here we were expecting no impact!

I had a sell stop on just prior to the release, didn't get triggered obviously so cancelled. Be aware of USD retail sales tonight 1030 eastern.

 

[CanOz]

Here we were expecting no impact!

I had a sell stop on just prior to the release, didn't get triggered obviously so cancelled. Be aware of USD retail sales tonight 1030 eastern.

I've got a target of .7720 for the AUD, but who knows...

 

[CanOz]

Now, can we continue or is that it?

 

[cogs]

It's interesting watching them sneak the AUD faid in, maybe they think no one is watching

 

[CanOz]

It's interesting watching them sneak the AUD faid in, maybe they think no one is watching

Indeed, and when i got back from lunch most of my profit had been eaten...ate?

Rule No.4 - tighten trailing stops on news or be prepared to give up profits......