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  • #36,481
  • Apr 14, 2020 7:33am Apr 14, 2020 7:33am
Good rejection higher of UC . Hitting its head on S38 , 3X on 1 HR chart !!
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"Define the risk OUT of your trade"--Mark Douglas
  • #36,482
  • Apr 14, 2020 8:06am Apr 14, 2020 8:06am
Going to be a great week for trading. AUSSIE IS LOOKING LIKE IT IS READY TO COLLAPSE !!!!! ( Davit has already said this)
UC trade. I would actually feel better about this pair if I could see a significant advance in the price of oil , $3 per barrel be great !!! The impact to the Canadian economy by any increase in the price of oil is ultra significant. ( "For every 1$ gain in the price of WTI , Canadian GDP would gain almost $1.7 BILLION DOLLARS , on average")-Source National Research Council of Canada.

"SELL into resistance , BUY into support "-----I have to find who posted this. This statement has had a profound affect on me.
Coupled with Pivot Points and Price Action= a tremendously clear view of the market.

Go get it guys !!!!
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,483
  • Apr 14, 2020 8:47am Apr 14, 2020 8:47am
Quoting GreenEarth
Going to be a great week for trading. AUSSIE IS LOOKING LIKE IT IS READY TO COLLAPSE !!!!! ( Davit has already said this) UC trade. I would actually feel better about this pair if I could see a significant advance in the price of oil , $3 per barrel be great !!! The impact to the Canadian economy by any increase in the price of oil is ultra significant. ( "For every 1$ gain in the price of WTI , Canadian GDP would gain almost $1.7 BILLION DOLLARS , on average")-Source National Research Council of Canada. "SELL into resistance , BUY into support...
if canadian dollar gains aussie will gain as well. it is corona virus free economy now to a large extent(not completely)and tightly linked to china. if china starts production aussie gains. its simple as that. many investors have piled onto aussie in last few days.
  • #36,484
  • Apr 14, 2020 9:00am Apr 14, 2020 9:00am
Quoting giveachance
{quote} if canadian dollar gains aussie will gain as well. it is corona virus free economy now to a large extent(not completely)and tightly linked to china. if china starts production aussie gains. its simple as that. many investors have piled onto aussie in last few days.
Exactly why the Aussie is going to drop like a lead balloon versus the CAD , in my opinion.
China's Economy is going nowhere anytime soon. China now has many capitalist Countries as its enemy , and you can bet that they will ensure that China gets punished severely economically. China grossly underestimated the response of the free world.
Australia's economy is about to go "down the toilet as well".
Canada's economy , already in the toilet.
Yet , the AUD/CAD is ripe for SHORTING , traders are starting to leave the Aussie. As Davit stated , MM's perfect "pump and dump" scenario is playing out as we speak.
I respect your opinion however.
I believe that the currency which has the most to gain in the near term is the CAD because OIL IS GOING HIGHER , much higher in months to come.
Green Pips to you ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #36,485
  • Apr 14, 2020 11:09am Apr 14, 2020 11:09am
Quoting GreenEarth
{quote} Exactly why the Aussie is going to drop like a lead balloon versus the CAD , in my opinion. China's Economy is going nowhere anytime soon. China now has many capitalist Countries as its enemy , and you can bet that they will ensure that China gets punished severely economically. China grossly underestimated the response of the free world. Australia's economy is about to go "down the toilet as well". Canada's economy , already in the toilet. Yet , the AUD/CAD is ripe for SHORTING , traders are starting to leave the Aussie. As Davit stated...
there is no reason for oil to go higher when there will be very less demand. oil is staying sub 50 dollars for sometime now.
  • #36,486
  • Apr 14, 2020 11:38am Apr 14, 2020 11:38am
Quoting giveachance
{quote} there is no reason for oil to go higher when there will be very less demand. oil is staying sub 50 dollars for sometime now.
The World will be intentionally put in a position where demand will outstrip supply by such a massive margin that producer's will be able to name their price.
Soviet Oil Minister says $60 / barrel oil will be back before the end of 2020. Look out IF we have a very cold winter in North America , which can begin sooner than "normal".
As long as oil hits $35/bbl , these Countries are swimming in CASH.
Canada needs WTI to hit $45/bbl due to higher production costs.
Currently , $22/bbl for oil would be great for UC trading.
In my opinion , massive market manipulation is full steam on WTI and the Australian Dollar.
Respectfully ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,487
  • Apr 14, 2020 12:59pm Apr 14, 2020 12:59pm
Patiently waiting for the sellers to enter the UC pair and take this pair to 1.3860's again , maybe even lower.
Grinding lower.
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"Define the risk OUT of your trade"--Mark Douglas
  • #36,488
  • Apr 14, 2020 1:47pm Apr 14, 2020 1:47pm
Serious BATTLEGROUND with the UC pair between 1.3920 and 1.3900
Numerous serious levels of resistance with the AUD/CAD between R38 and R61 , R78 in extension. Wednesday's News "SHOULD" print very red for the Aussie. Market manipulator's can do surprising things !!!!
However , if "things are allowed to play out with a degree of normalcy" , in my opinion , there is a strong probability that the AUD/CAD will retreat des
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pite showing amazing strength as I am writing.
"Define the risk OUT of your trade"--Mark Douglas
  • #36,489
  • Apr 14, 2020 3:03pm Apr 14, 2020 3:03pm
Please have a look on AUD and USD unemployment data
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  • #36,490
  • Apr 14, 2020 4:09pm Apr 14, 2020 4:09pm
Quoting renkotop
Please have a look on AUD and USD unemployment data {image}
Thanks for showing that Renkotop.
Stark difference in employment expectations between the two Countries.
Aussie has had 3 pushes North in the last 12 hours on a 4 HR AUD/USD Chart , but R61 has not been reached. Why ? MM's at work ? Maybe it will be reached tonight. Will be very interesting if USD BULLS attack the Aussie tonight or wait until Wednesday's numbers. Probability of Australia's Economy being fine compared to the rest of the World's Countries , I would say is , NIL !!!! ** PROBABILITY **
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!!!!
Will be trading AUD/CAD tonight and I will be shorting solid entry opportunities , I'm confident that they will present themselves.

Davit , thanks to your teachings and your system , account gain was 8.54 % today and I missed the spike down this morning !!!!(overslept)
SELL into resistance , BUY into support.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,491
  • Apr 14, 2020 4:27pm Apr 14, 2020 4:27pm
Quoting GreenEarth
{quote} Thanks for showing that Renkotop. Stark difference in employment expectations between the two Countries. Aussie has had 3 pushes North in the last 12 hours on a 4 HR AUD/USD Chart , but R61 has not been reached. Why ? MM's at work ? Maybe it will be reached tonight. Will be very interesting if USD BULLS attack the Aussie tonight or wait until Wednesday's numbers. Probability of Australia's Economy being fine compared to the rest of the World's Countries , I would say is , NIL !!!! ** PROBABILITY **{image} !!!! Will be trading AUD/CAD tonight...
MMys are working! F**ckers they are. But we Need them!
My nephew lives in Australia and he might send me Infos About the "real" Situation. I' ll let you People know.
Renko
  • #36,492
  • Apr 14, 2020 6:45pm Apr 14, 2020 6:45pm
I hope that our Japanese Trading friends have a lot more energy this evening than our friends down under !!!!!

Calm before the storm ? Hmmm....
"Define the risk OUT of your trade"--Mark Douglas
  • #36,493
  • Apr 14, 2020 7:27pm Apr 14, 2020 7:27pm
Need AUD/CAD to have a strong push South thru the .8925-.8920 zone.
Then it seems highly probable that a battle will take place to get to R38 ,( .8892)
Major spike in oil higher would be a great catalyst to get to R38 , although it won't be needed if traders start abandoning the Aussie.
"Define the risk OUT of your trade"--Mark Douglas
  • #36,494
  • Apr 14, 2020 8:28pm Apr 14, 2020 8:28pm
Quoting renkotop
{quote} MMys are working! F**ckers they are. But we Need them! My nephew lives in Australia and he might send me Infos About the "real" Situation. I' ll let you People know. Renko
G'day,

I live in Australia and can give you a bit of unbiased info.... https://www.australia.gov.au/

After investing over 15% of GDP in economy stimulus package for the next 6 months unemployment rate going up was unavoidable. The Australian Government has already announced (Tuesday) the unemployment rate will be double than normal up by 5% = 10% (Thursday announcement).
Coronavirus infection nationwide is down and so is the curve starting to move south.
There has been changes in various laws: commercial tenancy as well as residential, employment, social security etc... to ensure people are suffering the least. Although, I am not a liberal voter and following the debacle of the summer fires, drought etc... the lack of leadership. I have been very impressed with the reaction to the national and global coronavirus situation. Our PM in collaboration (National Cabinet) with the States Premier and Medical experts have taken the hartd decisions which looks more likely to be the ones that were needed.
Of not, China is starting to manufacture and produce again, it will need Australia's natural resource to do that. Some of the advanced Asian countries are slowly re-starting to come alive. Unlike some western countries they have learnt from the past two major viruses that hit them, they where well prepared.
Countries who are dealing better and quicker than others will need to wait for the others who have been sitting on their hands: USA, European (except Germany) to get their act together for a full restart of the economy. However, I rather in Australia and wish you all the stay safe and healthy.
Don't be surprise if the AUD stays upthere for a while....
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Stay green!!!
  • #36,495
  • Apr 14, 2020 8:36pm Apr 14, 2020 8:36pm
Quoting Froggy
{quote} G'day, I live in Australia and can give you a bit of unbiased info.... After investing over 15% of GDP in economy stimulus package for the next 6 months unemployment rate going up was unavoidable. The Australian Government has already announced (Tuesday) the unemployment rate will be double than normal up by 5% = 10% (Thursday announcement). Coronavirus infection nationwide is down and so is the curve starting to move south. There has been changes in various laws: commercial tenancy as well as residential, employment, social security etc......
Thanks for the insight Froggy.
Here in Canada , we definitely were not prepared.
I certainly don't wish Australia any hardship but I do hope that the Aussie retreats soon.
Be safe ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,496
  • Apr 14, 2020 8:40pm Apr 14, 2020 8:40pm
Quoting GreenEarth
{quote} Thanks for the insight Froggy. Here in Canada , we definitely were not prepared. I certainly don't wish Australia any hardship but I do hope that the Aussie retreats soon. Be safe , GE
I am with you, I want to make some money too, and the AUD going down won't make the situation worse or better for now.

Canada seemed in trouble and your big brother next door doesn't seem to want to help....
Stay green!!!
  • #36,497
  • Apr 15, 2020 2:54am Apr 15, 2020 2:54am
As Davit said,

" Every drop fills the bucket"
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We obey the structure that results from the market's reaction
  • #36,498
  • Apr 15, 2020 3:08am Apr 15, 2020 3:08am
DAX
I missed the pivot break for the run down but, I took the long off D-S2 giving a nice tight stop.
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  • #36,499
  • Apr 15, 2020 3:57am Apr 15, 2020 3:57am
GM guys
So far everything is working nicely most of what has transpired was in my weekly calendar analyses
Nice drop on AU Aussie crosses may drop even more tonight after unemployment numbers

Big day for CAD. I suspect she'll gain after.
In trading, you have to be defensive and aggressive at the same time
  • #36,500
  • Apr 15, 2020 4:04am Apr 15, 2020 4:04am
Quoting MaxDoom
DAX I missed the pivot break for the run down but, I took the long off D-S2 giving a nice tight stop. {image}
Hi Max
I think its appropriate to use weekly fib pivots on this thread Not daily since that's what's system is about.I have no issues you posting but do care this principle is respected otherwise it confuses people.
Thank you
In trading, you have to be defensive and aggressive at the same time
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