AUD/USD orders update

Light sell orders reported at 1.0450 although I hear unconfirmed reports of stops above 1.0440. More sell orders at 1.0480.

  1. Hi Sean, have you ever tried using some of the tools that Oanda offers?..they seem to be pretty interesting…iv been using them and iv noticed a slight thinning of buying orders at 1.0350.Maybe they had just been removed over the weekend and might appear gradually over the day building into the week.Not really sure how it works.

  2. Yeah Rahul, also not 100% sure how they measure stuff so prefer to stick with order info from professional market, at least I know my way around that end of the mkt whereas the retail world is often a mystery 🙂

  3. Oanda has a large market, retail traders are wrong quite often, which means they have a good prediction record (implicitly) hence im quite sure that these tools can be useful.Will update here as often as i can if i manage to figure out something useful over time.
    Currently,(using these tools):-
    1.Gbp/USD:-..will turn lower, from where it is now(1.5905) atleast to the 100day mvag or maybe a bit lower.
    2.Aud/usd :- strong selling seen at 1.0480 all the way up to 1.0500.Look to sell at these levels.
    (this is just what I understood from these tools)

  4. There is no buying interest in the aussie till 42 is taken out. Oanda tools may be correct but retail are not always wrong which is another mistake all pros do. percent of loss trades in retailers may be large but the amount invested on each trade is also less compared to hedge funds and macro funds.

  5. Cheers Rahul, that could be a very valuable indicator if you can figure out how to use the retail data to forecast the next move or stop-loss push. If you do figure it out, just tell me 🙂

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