Ferndog be carefull trading around Fundamentle announcements AUS Fed Reserve Bank Dropped interest rates today by .25% this usually has a large and negetive effect on a currency. (the opposite if they increase it) which could explain the volatility. If you notice AUD/USD did rise slightly but with the rate drop and negative building approvals for the month outlook for the AUD was not good. From a fundamental point of view it shows that the economy is slowing.
I am always mindfull of them and don't trade them often unless the set up is too good to refuse, often there is alot of volatility prior to an annoucement and you might be on in the right direction but get caught out in all the noise.
Just so you know mate the Gartley tool is not automated like ZUP with the GFT platform. I scan my charts myself and just use the tool to highlight a pattern and get the exact fib ratios of the pattern, but I use my fibs to define the reversal zone, the AB=CD tool is quite usefull too as a quick reference.
hope this is of help.
Big Weir
I am always mindfull of them and don't trade them often unless the set up is too good to refuse, often there is alot of volatility prior to an annoucement and you might be on in the right direction but get caught out in all the noise.
Just so you know mate the Gartley tool is not automated like ZUP with the GFT platform. I scan my charts myself and just use the tool to highlight a pattern and get the exact fib ratios of the pattern, but I use my fibs to define the reversal zone, the AB=CD tool is quite usefull too as a quick reference.
hope this is of help.
Big Weir