AUDUSD - Time to buy it?

Well last night I made 2% on the Rate News and ive also scalped another 10 pips this morning LONG on the AUDUSD.
I thought id write a little blog on the fundamental reasons behind the strength of this pair.

https://thedailyscalper.com/blog/blog/scalping-pair-to-watch-audusd

*Note - the blog is ad free

You're just trading noise. RBA is still expected to cut rates. It didn't increase rates, it just kept rates the same. Regardless of whether the Australian economy is recovering, the day RBA cuts rates will send AUD into a plunge. So why would you buy against a long term central bank expectation?...your time frame is messed.

Well my verified profit and the people who scalped the pair after reading the blog say otherwise,,, no offence, but maybe if you'd read the blog you would have seen that the whole idea was to look for short term trades....

May I respectfully suggest that you read through stuff properly before jumping to conclusions and Commenting ?

Cheers, Ben

Ps. By the way who said anything about the RBA incresing rates?

70% of the market expected a cut and had been selling the Aussie off I'm advance..., when the expected cut didn't happen it was natural that the market started buying back... Which it did

your use of the term 'rate cut' is purely for show. you say scalp, yeah sure, but what time frame. i'm saying that based on the aus recovering and RBA supporting further devaluation, rate cut will happen eventually in order to maintain the aud bear. yet you mention buying aud for scalps, hence trading noise, which was my opening remark. 'Trades based on Fundamental Analysis = Investing' -- interesting you look at US front and not China. Learn your economics.

For show? Haha what does that even mean? Lol yeah ok. Well ill leave you up on your pedistall. China ? The AUD reacts to Chinese news but more out of sentiment rather than fundamentals... There's a difference,,, anyway some of us actually do make a full time living from Forex alone and are too busy to get involved in petty little debates so I bid you farewell and wish you the best.

Im only a nooby here but I think both positions have merit and as you said jhehe, it all depends on the time frame but i don't think ben is going to share that with you after comments haha

oddavies posted:
Im only a nooby here but I think both positions have merit and as you said jhehe, it all depends on the time frame but i don't think ben is going to share that with you after comments haha

LOL at Owen - well the scalping opps were for yesterday. Im waiting on the FOMC commentary before trading any USD pairs now.
I wouldn't be surprised if the 'patience' phrasing comes back into play...

If that's the case ill be looking to go long on the GBPUSD. the GBP has strengthened a lot today and some institutional analysts are putting it down to Shell buying BP Group (because they may be looking at exchanging currency to GBP to make the purchase) - that's a potential 47billion pounds that could get pumped into the UK which isn't small...

By the way - welcome Owen always nice to see new members with something interesting to say :)

Thanks Ben, i looked back on the aud/usd chart and after the RBA's decision to hold interest rates, its interesting to see that with no data change, that one piece of new data increased the value of the aud BUT then after 4 hours the aud ceased to gain against the usd. So just for jhere's knowledge, it was possible to scalp it. How you can predict the appropriate time frame to scalp though is still a mystery to me. I would speculate though that considering the last previous greater selling trend of the aud/usd before the news release lasted 8h, was traders setting up short positions but after the news release there was significant number of traders closing off those postions and taking profits so maybe take 8/2 to get 4 for the length of that up trend but i could be completely wrong. Is there a technical indicator Ben that you would know of that that would help determine something like that?