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Pivot Trading

  • #34,761
  • Feb 19, 2020 1:21pm Feb 19, 2020 1:21pm
GCAD@ S78

165 pips to WPP
  • #34,762
  • Feb 19, 2020 1:36pm Feb 19, 2020 1:36pm
UJ has technically "pump and dump" written all over it now. Expecting a dump tomorrow.
Everyone can see the chart, but only a few can actually read it.
  • #34,763
  • Feb 19, 2020 2:06pm Feb 19, 2020 2:06pm
Quoting Davit
UJ move looks like BOJ intervention. Its way too strong for regular funds They have done many times before almost 4x adr Its like desperate attempt to reach 1.12 in a hurry that takes billions
Yes, it is almost the same fo CJ! I go short now on this pair!
  • #34,764
  • Feb 19, 2020 2:20pm Feb 19, 2020 2:20pm
Quoting Cryptosurf
{quote} Holding on for hope isn’t a strategy. Once UJ blasted thru the r100 level meant a sign of further upside could be in store. That level was also a previous high that it soundly rejected.
I think you misunderstood him.Given such gigantic move chances or probability is greater for decline then continuing upwards move without correction.
To take a loss after 170pip move is futile now.I would also wait.I think given corrections are as common as impulse moves its no longer about "hope" as much as what usually takes place.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #34,765
  • Feb 19, 2020 2:39pm Feb 19, 2020 2:39pm
Quoting Davit
UJ move looks like BOJ intervention. Its way too strong for regular funds They have done many times before almost 4x adr Its like desperate attempt to reach 1.12 in a hurry that takes billions
Yeah I know, how many times have we seen this same scenario play out pre FOMC? Price gets pushed to the extremes leading up and taking out levels like a drunken prom date.
Trade with confidence, trade without fear.
  • #34,766
  • Feb 19, 2020 2:50pm Feb 19, 2020 2:50pm
Quoting Cryptosurf
{quote} Yeah I know, how many times have we seen this same scenario play out pre FOMC? Price gets pushed to the extremes leading up and taking out levels like a drunken prom date.
Agree seen it too many times.I am more excited about EG we may get a breakthrough next 2days and that would flood lots of margin back.Lots of nice set ups now but got no margin left or rather not risk what little I got left.
In trading, you have to be defensive and aggressive at the same time
  • #34,767
  • Feb 19, 2020 3:01pm Feb 19, 2020 3:01pm
Quoting Davit
{quote} Agree seen it too many times.I am more excited about EG we may get a breakthrough next 2days and that would flood lots of margin back.Lots of nice set ups now but got no margin left or rather not risk what little I got left.
Agreed, EG I looks really great.
Trade with confidence, trade without fear.
  • #34,768
  • Feb 19, 2020 3:25pm Feb 19, 2020 3:25pm
Quoting Cryptosurf
{quote} Agreed, EG I looks really great.
EA looks attractive as well. Hopefully this will shoot up north friday.
  • #34,769
  • Feb 19, 2020 3:37pm Feb 19, 2020 3:37pm
Quoting RieseP
{quote} EA looks attractive as well. Hopefully this will shoot up north friday.
Agree RieseP!
  • #34,770
  • Feb 19, 2020 9:35pm Feb 19, 2020 9:35pm
EC on a Daily pending ABCD. This one looks favorable to me keep an eye on. AC has dropped to lows not seen since May of 2010. See if Thursday or Friday provides us with any opportunities on the Euro. Worst case scenario i'll go work the boulevard with my cardboard sign. Haven't tried that gig yet, however I hear its quite profitable and tax free. My CJ short just moved into the green. My USD short is negative.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,771
  • Feb 19, 2020 10:18pm Feb 19, 2020 10:18pm
Watch out for GC tonight.

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Best Regards
  • #34,772
  • Feb 19, 2020 10:41pm Feb 19, 2020 10:41pm
Quoting MrAussieFX
Watch out for GC tonight. {image} {image} Best Regards
Red number would be nice.

AC dramatic low great spot.Over reaction on unemployment as most things it will shoot high again.Forex is in perpetual range always trying to equalize
Once understood this properly it takes fear out of it.
In trading, you have to be defensive and aggressive at the same time
  • #34,773
  • Feb 19, 2020 11:19pm Feb 19, 2020 11:19pm
Options expires @ the NY cut tomorrow 10:00 $2 Billion on AU @ .67. May be one to watch for those trading the London session this is an example of one where the interest may be big enough to see if they can move price up to defend it, price is currently 50 pips below .67
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,774
  • Edited 5:48am Feb 20, 2020 5:35am | Edited 5:48am
Market can prove anyone wrong

Was expecting correction on UJ but BOJ would not let it drop...Dont know what else to say other then I am just another trader trying to make the right call.
You should manage your account not me or anyone else.

Feds must be nervous now everyone is racing to the bottom and Feds have no choice now then to cut rates.USD too strong

Lets see if ECB today can lift the Euro.If so 8450 possible on EG
In trading, you have to be defensive and aggressive at the same time
  • #34,775
  • Feb 20, 2020 5:55am Feb 20, 2020 5:55am
DXY, should stall soon.
i am JUST LONG GU
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  • #34,776
  • Feb 20, 2020 5:59am Feb 20, 2020 5:59am
Quoting ppxdf
DXY, should stall soon. i am considering buy some GU
Yen skews everything hence maybe wait a little longer to NY open
They could dump more lower

EU is like compressed energy ready to recoil.We'll see how it goes ECB
IMO Pound should decline further because of Trade talks.Looks like Euro ministers are not giving Boris easy path. "You got to punish UK to set an example for others"
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #34,777
  • Feb 20, 2020 6:01am Feb 20, 2020 6:01am
Quoting Davit
Market can prove anyone wrong Was expecting correction on UJ but BOJ would not let it drop...Dont know what else to say other then I am just another trader trying to make the right call. You should manage your account not me or anyone else. Feds must be nervous now everyone is racing to the bottom and Feds have no choice now then to cut rates.USD too strong Lets see if ECB today can lift the Euro.If so 8450 possible on EG
I think UJ will come down right now. 112 is a very strong resistance and as a very wise man said, strength is relative where price is
  • #34,778
  • Feb 20, 2020 6:13am Feb 20, 2020 6:13am
Quoting kleybenny
{quote} I think UJ will come down right now. 112 is a very strong resistance and as a very wise man said, strength is relative where price is
Your DD jumped 35 to 19 in 10min
You got lots of Euro lets see how that goes
In trading, you have to be defensive and aggressive at the same time
  • #34,779
  • Feb 20, 2020 6:43am Feb 20, 2020 6:43am
Looks like nobody else want to buy anything else other then USD
Hate when it gets like this.Something must give! Maye be REd manufacturing today. or Tweet by Trump on his usual antics on the Feds
USD index at 99.88 that's super high last higher 2017
In trading, you have to be defensive and aggressive at the same time
  • #34,780
  • Feb 20, 2020 6:57am Feb 20, 2020 6:57am
From one of the comments
"WSJ tells a story of container ships leaving China 10% full with many ships simply cancelling trips with worse ahead. The global supply chain is in trouble for a while as fear runs rampant. Our stores will see empty shelves this spring. Speaking of which, went into the local Ace Hardware store. One full isle had nothing but storage bins on the shelves where spring goods should have been. Once the Christmas tree stuff was removed there was nothing to replace it. Never seen anything like that. I know the owner personally and asked him about that. He said he was waiting for shipments but didn't know when they would arrive."

https://www.marketwatch.com/story/go...=mw_quote_news
Goldman Sachs warns of imminent risk for stocks due to complacency on coronavirus
In trading, you have to be defensive and aggressive at the same time
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