- #27,801
- Mar 27, 2019 4:33pm Mar 27, 2019 4:33pm
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
- #27,803
- Mar 27, 2019 4:39pm Mar 27, 2019 4:39pm
- Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts
{quote} in fact it is GBP CAD
20 Day ADR above 120 is what Mizi is saying,
Regards.
We obey the structure that results from the market's reaction
- #27,805
- Mar 27, 2019 5:27pm Mar 27, 2019 5:27pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #27,807
- Mar 27, 2019 6:45pm Mar 27, 2019 6:45pm
{quote} Gj is a fantastic pair to proxy risk off. Any bad news for the uk and this pair is almost guaranteed to bring beer to the party.
Reference page 1371, post27402 & 27407
Yeoman the "Tough Luck" Trader =p
- #27,808
- Mar 27, 2019 7:25pm Mar 27, 2019 7:25pm
- Joined May 2017 | Status: Trader | 2,047 Posts
{quote} Gj is a fantastic pair to proxy risk off. Any bad news for the uk and this pair is almost guaranteed to bring beer to the party.
. There is plenty of newcomers here that doesn’t know what to do with G at all. There is only few people here who can properly assert their risk management and have big enough balls to trade G pairs with success. Don’t promote it, you are long timer and well aware of the facts that as soon as you said something and someone decides to use that information and blew his account, it’s going to be another “ system hater” here - #27,809
- Edited 8:10pm Mar 27, 2019 7:40pm | Edited 8:10pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #27,810
- Mar 27, 2019 7:51pm Mar 27, 2019 7:51pm
Hi all.
It's been a while since posting here last.(Thankyou Davit)
I am keeping an eye on AUDNZD currently (as I suppose a few members are)
I am "basically" a trend trader, and like to take my trend off the W1 chart. And then use pivots, price action and fundies in unison to try and get an advantage(edge).
In this case, I am seeing the W1 trend as down.
From a price action perspective, there was quite a bit of consolidation a few weeks ago(marked on chart).
Price broke south out of that consolidation for a couple of weeks, but did not get very far, before this pullback into the levels of the consolidation.
From a pivot perspective, the extreme resistance pivots are now in play, and some traders may be looking for a reversal from theses levels.
From a news perspective, we have RBNZ Gov. Orr speaking an hour before New York Close.
With regard to the AUD....there is nothing of real note in the short term, except for some China PMI's out on Monday. Tuesday (Aussie time) will have the RBA rate statement, Cash Rate....and Federal Budget.
My thinking is that if price can rise today past the R131 and up to the R161, then I will be looking to load a few short positions at sensible levels, to get in line with (what I see as) the weekly bearish trend.
Good luck.
PS. I use the Nostromo pivots and my OLD eyes a happy with "vanilla" charts.
It's been a while since posting here last.(Thankyou Davit)
I am keeping an eye on AUDNZD currently (as I suppose a few members are)
I am "basically" a trend trader, and like to take my trend off the W1 chart. And then use pivots, price action and fundies in unison to try and get an advantage(edge).
In this case, I am seeing the W1 trend as down.
From a price action perspective, there was quite a bit of consolidation a few weeks ago(marked on chart).
Price broke south out of that consolidation for a couple of weeks, but did not get very far, before this pullback into the levels of the consolidation.
From a pivot perspective, the extreme resistance pivots are now in play, and some traders may be looking for a reversal from theses levels.
From a news perspective, we have RBNZ Gov. Orr speaking an hour before New York Close.
With regard to the AUD....there is nothing of real note in the short term, except for some China PMI's out on Monday. Tuesday (Aussie time) will have the RBA rate statement, Cash Rate....and Federal Budget.
My thinking is that if price can rise today past the R131 and up to the R161, then I will be looking to load a few short positions at sensible levels, to get in line with (what I see as) the weekly bearish trend.
Good luck.
PS. I use the Nostromo pivots and my OLD eyes a happy with "vanilla" charts.
- #27,811
- Mar 27, 2019 7:51pm Mar 27, 2019 7:51pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #27,812
- Mar 27, 2019 7:54pm Mar 27, 2019 7:54pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #27,813
- Mar 27, 2019 8:05pm Mar 27, 2019 8:05pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
worth looking at this.I posted about this site before! my favorites "don't buy High" chart" "Dont sell Low" chart https://www.theforexguy.com/price-action-strategy/ When you place context like Pivots/Events/Price action. Seriously its ATM machine {image} {image} {image} {image}
- #27,816
- Mar 27, 2019 8:44pm Mar 27, 2019 8:44pm
{quote} You forgot location. Every trend comes to an end.I think AN down trend is over.Many key factors extremely dovish RBNZ and China trade deal on the wings. We are going up on this. There is always a critical point when steel breaks when bamboo breaks.Once that occurs you must have awareness of it.Every trend comes to an end.On monthly AN reached 2016 low.Does it have fundies to push lower? I don't think ATM
Many thanks Davit.
I have rarely gone to the Monthly. The Weekly has been my "go to" chart for trend. I guess I have been using it for so long, I forget the Monthly
.Now I have seen the Monthly, I certainly take your point....and with the Federal Budget next week being sprooked by the Pollies as the first surplus budget in about 10 years, the AUD could just head north for some time.(having said that, it's been spoken about for weeks, if not longer, so it may have already been priced in)
Anyway, I will try to put more thought into my posts in future, and thanks again.
Cheers
- #27,817
- Mar 27, 2019 8:46pm Mar 27, 2019 8:46pm
{quote} Good to see you back posting here, Michael. You are one of the best system analysts I know on Forex Factory.
That's a nice wrap mate. Thankyou very much, though my Wife may beg to differ
Cheers and profitable trading to you.
- #27,818
- Mar 27, 2019 10:31pm Mar 27, 2019 10:31pm
- Joined Mar 2018 | Status: Just Chillin' | 708 Posts
Hi all. It's been a while since posting here last.(Thankyou Davit) I am keeping an eye on AUDNZD currently (as I suppose a few members are) I am "basically" a trend trader, and like to take my trend off the W1 chart. And then use pivots, price action and fundies in unison to try and get an advantage(edge). In this case, I am seeing the W1 trend as down. From a price action perspective, there was quite a bit of consolidation a few weeks ago(marked on chart). Price broke south out of that consolidation for a couple of weeks, but did not get very far,...
Regarding AN, please remember what Davit stated on the beginning.. "Should price smash 100 zone, we have a trend continuation...." Plus this has been backed up by fundamentals....
So, you can conservatively do a counter trend trade on this by taking advantage a little retracement going down... But definitely, this is the start of an UP TREND, so best to buy this pair since AN has been down for so long already.....
Cryptosurf's advice on market structure has been very useful as well and effective, we are now at Accumulation phase....
We're not here to be right, we're here to Profit Consistently!
- #27,819
- Mar 27, 2019 10:51pm Mar 27, 2019 10:51pm
- Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts
We obey the structure that results from the market's reaction
- #27,820
- Edited Mar 28, 2019 12:10am Mar 27, 2019 11:09pm | Edited Mar 28, 2019 12:10am
- Joined May 2011 | Status: Trader | 1,577 Posts
Ecclesiastes 1:9