AUDCAD - A Davit Favorite!
THE POWER OF THE WEEKLY PIVOT
Captured a batch from WP to S61
THE POWER OF THE WEEKLY PIVOT
Captured a batch from WP to S61
Attached Image (click to enlarge)
2
- #34,042
- Jan 24, 2020 12:58pm Jan 24, 2020 12:58pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
USD was dominating everything and I suspect market is pricing in Feds rate date 29th Weds.Then positions on USD likely to get dumped and corrections should follow
I am slightly puzzled why such love for NZD specially against AUD
It seems no matter any green data on Aussie it loses to NZD
Its holding 66 tight while AU gets blooded up
I am slightly puzzled why such love for NZD specially against AUD
It seems no matter any green data on Aussie it loses to NZD
Its holding 66 tight while AU gets blooded up
In trading, you have to be defensive and aggressive at the same time
- #34,043
- Edited 2:57pm Jan 24, 2020 2:11pm | Edited 2:57pm
i think some bigs guys like bank etc move price according with their interest. things like large options or so.
In my reuters subscription, I see some projections very accurate like that one below
In my reuters subscription, I see some projections very accurate like that one below
Overall good week. I want to try and sharpen up my skills. Focus on less Pairs but bigger lots. Focus on the strongest pairs that ties in with fundamentals. Sometimes I get disheartened because my understanding of fundies so very little and I need to find the time to do my research. I like to say in 2 years i would like to trade full time. God Willing 
. If anyone has any suggestions on how to improve that be much appreciated. I'm going to go back a few hundred pages and start doing some revision.
Have a good weekend guys
. If anyone has any suggestions on how to improve that be much appreciated. I'm going to go back a few hundred pages and start doing some revision.Have a good weekend guys
- #34,045
- Jan 24, 2020 2:23pm Jan 24, 2020 2:23pm
USD was dominating everything and I suspect market is pricing in Feds rate date 29th Weds.Then positions on USD likely to get dumped and corrections should follow I am slightly puzzled why such love for NZD specially against AUD It seems no matter any green data on Aussie it loses to NZD
Also Australia economically very exposed to China (more so than NZ) and its new coronavirus.
- #34,046
- Jan 24, 2020 2:27pm Jan 24, 2020 2:27pm
I am happy to be part of the best thread of Forex Factory (Pivot Trading). I had a good start this month. (9.06 %). I hope you too.
- #34,047
- Edited 2:48pm Jan 24, 2020 2:37pm | Edited 2:48pm
{quote} Your summary doesn't show any sells, of which there much have been many, particularly on euraud which accounts for more than 90% of your profits.
The report shows average, you have a trade with 20 pips positive and another 10 pips negative, the result would be +10 pips
- #34,049
- Edited 4:06pm Jan 24, 2020 3:53pm | Edited 4:06pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Overall good week. I want to try and sharpen up my skills. Focus on less Pairs but bigger lots. Focus on the strongest pairs that ties in with fundamentals. Sometimes I get disheartened because my understanding of fundies so very little and I need to find the time to do my research. I like to say in 2 years i would like to trade full time. God Willing
You'll get there.My account went 10k to over 100k and never looked back!You need to be patient
My gain this week over 5k that's staggeringly higher then my old crappy weekly pay job.Anyway keep hammering away you'll get there.
In trading, you have to be defensive and aggressive at the same time
{quote} depending where you live to trade full time in US you need minimum 50k account ideally 100k You need that for position sizing You'll get there.My account went 10k to over 100k and never looked back!You need to be patient My gain this week over 5k that's staggeringly higher then my old crappy weekly pay job.Anyway keep hammering away you'll get there.
I really like Price to find Support/Resistance but also Its at the daily Hi/Lo...... and fundamentals doesn't look it will effect these barriers. Your Knowledge to the fundies is second to none. This is area i need to improve.
You have only focused on the Euro and loonie which was the HEADLINE story this week. I would say in theoretical way it's like reading a MAP to find the treasure. The Fundies is the MAP...... and the right pairs at the right price is the treasure.
- #34,052
- Jan 25, 2020 4:17am Jan 25, 2020 4:17am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #34,057
- Jan 25, 2020 7:14am Jan 25, 2020 7:14am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote} ... Like you've always emphasised, psychology is one of the most powerful facets of trading and to know ourselves and to learn how to curb our bad habits is probably the most challenging battle field that traders have to fight in. One of the most powerful forces I have discovered in myself is what they call FOMO (Fear Of Missing Out)...
This is true because we're a different person every day despite believing to be the same.
All the other aspects can be learned even if some of them are difficult while knowing ourselves it's a never-ending task.
I suffer FOMO and it caused me many early entries, now it happens less but hasn't disappeared and probably it will never go to zero.
I try to replace it with JOMO (Joy Of Missing Out), and up to now it's paying off.
Porta itineris dicitur longissima esse
{quote} Psychology is for sure the hardest part of trading and everything else in life.
. You doing a good job Mr B
- #34,059
- Jan 25, 2020 8:41am Jan 25, 2020 8:41am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
{quote} I Remember you had so many open positions... You couldn't see any of the pivots
Porta itineris dicitur longissima esse
- #34,060
- Jan 25, 2020 10:11am Jan 25, 2020 10:11am
Hi guys We are going into last week of Jan and Brexit at 31th.Keep that in mind.Its an event that market has no experience before hence could be enormous spikes on Euro and GBP more on the Pound or be total dud. I am staying clear of Pound will find trades on other pairs. Focus PPE
I have a pineapple to peel or not before brexit. I´m holding negative GU short.
when I see Forex Factory calendar data I realize FF do not show the composite PMI, which combines manufacturing and services indexes.
then it becomes more complicated to interpret those data, and in addition they do not show the minimum and maximum numbers of the research.
Manufacturing better than expected, rising to 49.8 from 47.5, the highest level since April
services rose in January to 52.9 from 50.0, also its highest level since September 2018 and well above the consensus forecast in a Reuters poll of 51.0.
when I see the composite PMI, (manufacturing and services) we see rose to 52.4 from 49.3, the highest reading since September 2018 and easily beating the 50.6 consensus forecast in a Reuters poll of economists.
it is reducing the chances of cutting rates and increasing the chances of pineapple to peel
I hope gbp is already priced not to cut. So, if they don't cut it, we shouldn't we have a strong spike upwards.
I prefer that this goes downhill lol
The economist Chris Williamson said : "It seems likely that the rise in the PMI kills off the prospect of an imminent rate cut by the Bank of England, with policymakers taking a wait-and-see approach as they assess the performance of the economy in the post-Brexit environment,"