Quoting barakahDislikedjust when i was ready to double short this pair at 92.00, it bounced nicely up, love it or hate it...Ignored
Let the uptrend continue so we can collect extra money from a swap as well.
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Quoting barakahDislikedjust when i was ready to double short this pair at 92.00, it bounced nicely up, love it or hate it...Ignored
DislikedThere's a triangle forming on the 1 hr chart, so the reasonable way is to wait for a breakout either up or down, also notice the bearish divergence, so I would lean towards a short. But best best is it wait and see which wait itll go. Whats your view on this?Ignored
DislikedI guess a lot of it depends on the USD sentiment, last week the dollar depreciated against most currencies, and it can be clearly seen on this pair. Certainly, if the upper trendline breaks, it is a good sign to go long. But that would mean further dollar depreciation. Previous two rallier ended in a major sell off. Right now, I don't see any point in taking position in either direction until a move in some direction happens.Ignored
Disliked...
I see some major strength coming from somewhere. The V bottom rocket upward. It sort of looks like there was an emotional shakeout. If the market is short this pair, and it moves up, shorts will be covered quickly and this is what makes the market move. I don't care about any fundamental dollar issues when I look at an hourly chart. I see emotional positioning. My job is to think like everyone else so I can understand what they are thinking and position myself on the other side. Not an easy task by any means.Ignored
DislikedAll I was saying is that .... when I look at this from a generic point of view....I saw a retrace begin and we got to a value point where lots of traders got short or added to shorts expecting the downtrend to resume. Well it did resume for a time, but then suddenly those short traders got squeezed back down near the bottom as price continued to move up and continue on its uptrend path.
Whenever I see something like this, I just try to ask myself why it happened. I would say that the perception of the value of this pair has changed in the near term so I will look for clues.
Just an observation, not really something you can quantify.
http://home.comcast.net/~downrivertrader/audanomoly.PNGIgnored