I am actually looking for long signal. Yes, I am waiting to go long. We are waiting to see how does RBA react now. Do they still think that the stimulus package is going to do any good?

Well , it is understandable why were they so confident about the stimulus package. During the Asian crisis, around 1997 to 1999 , Australia managed to grow at an average rate of 4.7%. The country’s sound foundation of strong domestic consumption was able to save Australia from past crises. Consumer consumption was the key.

They still believe in this. I guess.

Anyway, I don’t believe in what they choose to believe. But I am looking to long  Aussie dollar now.

Here is the….CHART! (Click to view full chart)

I am out from market now. Well , in case you wanna know.. I was in the market since yesterday.
GBPUSD long position was stopped out before it rallied. And I was away from my workstation. oh well, it happens.

AUDUSD was flying. It feels really good to wake up in the morning with 300 pips profit in your trading account. 😆

Here is the ….CHART! It is for showing off purposes. 😆

Nothing much. Waited for price to squeeze, speculate the bloody rate cut. Boom. Then manage trailing stop, then , profit target hit…then…that’s it.

It has been a very busy and wonderful two-week. After seeing off my families back to Malaysia, I am back to my trading desk. I hope to start some tradings soon. 

It is very interesting to know how the retail business people from south east asia (particularly from Indonesia, Malaysia and Singapore) view Australia dollar. They are bullish. For medium to long term , I guess. At the moment, in both Malaysia and Singapore, most probably you can’t buy Australian dollar from retail money changer on the spot. Instead, you’ve to pre-order, and collect it later. People are rushing to buy the Aussie. Supply is short. In fact, my sister was not able to find any Aussie dollar prior coming to Melbourne. This is interesting, isn’t it? 

Of course, this is not enough to create a bullish view of Aussie dollar just yet. In fact, it shows that most of retail traders/investors might still live in the old Aussie dream. This is not a simple correction, this is a pretty serious damage of Australian dollar trend. It might take awhile before their ‘investment’ takes off again. Let’s see how it goes.