Fundamentals and money
Heh… The associated press twitter account was hacked a little bit ago.
New Zealand kept their rates on hold as expected, and the market seemed to like it.
[QUOTE=“piptronix;481429”]New Zealand kept their rates on hold as expected, and the market seemed to like it.
[QUOTE=“ILovePizzaMore;481430”]
Yep!
[QUOTE=“ILovePizzaMore;481441”]
I just closed this trade for $8 loss… I’m not comfortable where this is going… The
Well my technical setup is screaming for a short on the audusd but I have to wait for the next one hour candle to complete before I pull the trigger. I can’t post a chart now but my setup is basically what I think is called type 2 divergence. Price makes a lower high while the stochastic makes a higher high. At the moment the high been formed is just slightly lower than the previous high, but like I say, it’s not fully formed yet. Stochastic setting is 14 , 3,3
Let’s see if this is where fundamentals agree with technicals
[QUOTE=“piptronix;481457”]Well my technical setup is screaming for a short on the audusd but I have to wait for the next one hour candle to complete before I pull the trigger. I can’t post a chart now but my setup is basically what I think is
Ok I’m in, short at 1.0257 with a 40 pip stop loss. That’s a lot bigger than usual, I usually do a 25 pip stop loss, but because its before a release I’ll play it safer. I also jumped the gun a bit - the candle hasn’t actually closed.
I also heard on the radio on the way to work that 100 mine workers will lose their jobs at one of the Western Australian gold mines due to high operating costs and a falling gold price.
[QUOTE=“piptronix;481464”]Ok I’m in, short at 1.0257 with a 40 pip stop loss. That’s a lot bigger than usual, I usually do a 25 pip stop loss, but because its before a release I’ll play it safer. I also jumped the gun a bit - the candle hasn’t actually closed.
I
That’s true, and its mining that’s kept the economy strong while the world crumbled. But I am starting to fear for my short, I have a feeling this release may surprise us, I may tighten my stop
[QUOTE=“piptronix;481468”]That’s true, and its mining that’s kept the economy strong while the world crumbled. But I am starting to fear for my short, I have a feeling this release may surprise us, I may tighten my
[QUOTE=“ILovePizzaMore;481472”]
There’s always the possibility… I am never going to be able to get every release prediction correct, but I am reasonably confident it will not come in high… 0.4 or 0.5% will be needed to see some downwards pressure. If it comes in as forecast then probably will see it go up to 1.03[/QUOTE]
Well, I think it’s coming in as expected, judging from the way it’s pushing up pre release
[QUOTE=“piptronix;481477”]
Well, I think it’s coming in as expected, judging from the way it’s
Well done pizza guy, you called it, you estimated 0.4 or 0.5
No, I’m still in, I should have taken profit at about 15 pips, but it moved back up too fast. I’ll hang onto this one for a while.
That technical setup is pretty reliable too, but needs patience. This is what I’m looking for, a technical setup which can be taken before a release. In fact both the Audusd and NzdUsd showed the same setup before the Chinese PMI release a few days ago.
I have been using it for about 3 months now and this is the first time using it before a release (that I’m aware of). So in a way it gives me confidence to pull the trigger regardless of the news. But one trade does not a system make-I still haven’t even won this one lol
How many pips was that, 40? Or did you increase your position size.
Update on my trade, I closed it for 10 pips profit, i would normally hold for 20 to 30, but I’m at work and can’t afford to be fussing over a couple of pips, watching my phone every two minutes. Profit is profit
[QUOTE=“piptronix;481484”]Well done pizza
[QUOTE=“piptronix;481490”]How many pips was that, 40? Or did you increase your position size.
Update on my trade, I closed it for 10 pips profit, i
So whats the account size now?
If I remember correctly you only got two trades wrong in the last two weeks.