Watching EG for short, currently at R78 zone
"In the end you only trade yourself."
- #31,483
- Jul 29, 2019 8:47am Jul 29, 2019 8:47am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
GBP very hot atm, almost untouchable and every tweet by BoJo = 100 pips down. 
Porta itineris dicitur longissima esse
- #31,490
- Jul 29, 2019 11:08am Jul 29, 2019 11:08am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #31,493
- Jul 29, 2019 11:40am Jul 29, 2019 11:40am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #31,496
- Jul 30, 2019 8:47am Jul 30, 2019 8:47am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
Hi traders, any idea on what's wrong with AUD ?
That of course beyond China slowdown, Trump tweets and RBA cuts, it appears to often be weak and over exposed to the slightest news more than other commodity currencies as its cousin NZD or CAD.
Looking at these charts wee see it's oversold and at interesting levels, but who has the courage to enter seeing that it is so weak?
That of course beyond China slowdown, Trump tweets and RBA cuts, it appears to often be weak and over exposed to the slightest news more than other commodity currencies as its cousin NZD or CAD.
Looking at these charts wee see it's oversold and at interesting levels, but who has the courage to enter seeing that it is so weak?
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Hi traders, any idea on what's wrong with AUD ?
I believe there's no such thing as oversold or overbought coz we saw that a lot of times where price just keeps going to extreme levels for a few months already.. And it's about time for you to remove your TDI and concentrate on PA most especially on higher TFs.
Also, these are the times we cannot fully rely on pivot zones only for the price to reverse, we have to wait for price confirmation to be more safe.. Like strong reversals on the Daily first(like engulfing candle, pin bar or hammer will do)
Anyway, I cannot answer your question about fundamental, I just believe that news going out are mostly being manipulated, does not matter what they say on news, it's best to look at the charts to know what the market is really doing.
Just my few cents. Probably most will disagree with me, but it's just my opinion.
Good luck and trade well..
We're not here to be right, we're here to Profit Consistently!
- #31,498
- Jul 30, 2019 9:17am Jul 30, 2019 9:17am
Hi traders, any idea on what's wrong with AUD ?
On AY, week closed below S100 so for me it was a sign of weakness cosidering price action extremely bearish; only a small bullish correction and then it dropped again:
EA didn't closed above R100 BUT...i saw a price action that told me it was still going up: look how price never drown a significant new low from the low of last week.
Sometimes price is really directional...same as it usually do at the end of the year
(Don't mind size...it is a replicant account)
Avoid the crowd. Be chess player, not chess piece
- #31,499
- Jul 30, 2019 9:33am Jul 30, 2019 9:33am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote} Hello Bubincka,. And it's about time for you to remove your TDI and concentrate on PA most especially on higher TFs. Also, these are the times we cannot fully rely on pivot zones only for the price to reverse, we have to wait for price confirmation to be more safe.. Like strong reversals on the Daily first(like engulfing candle, pin bar or hammer will do) ...
thank you for your reply.
Apart from the TDI that I don't even look at it but by now I'm used to seeing the chart like that, looking at charts on higher TFs it's exactly what I'm doing, and if you take AUDCAD it's trading at multi years lows not only months and other AUD pairs almost there as well.
My view is to give back some boost to AUD it needs some catalysts, a big event like a China/USA deal very unlikely because it seems Trump wants to keep this card to play it November 2020. Let's see how CPI later will come out.
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- #31,500
- Jul 30, 2019 9:48am Jul 30, 2019 9:48am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote} For me it was a good spot to short AUD pairs: On AY, week closed below S100 so for me it was a sign of weakness cosidering price action extremely bearish; only a small bullish correction and then it dropped again: {image} EA didn't closed above R100 BUT...i saw a price action that told me it was still going up: look how price never drown a significant new low from the low of last week. Sometimes price is really directional...same as it usually do at the end of the year {image} (Don't mind size...it is a replicant account)
Basically you traded Weekly Fib Pivots following the trend, it works both ways, for me it's a way I'm not very good and comfortable at, especially when pairs are at multi months extremes.
A few posts ago fellow trader asgharhussai showed similar trades.
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