Price is everything

check drawdown from point of entry ..........

It's getting late for the day... what's your profit target?

.......... keep well all

Good Night. Have a Nice Weekend!

Reviewing the charts and discounting for hindsight (going candle by candle) there was some massive discorrelation.

EG led the pairs throughout most of the day. There was massive speculation by lots of people betting against audusd while it continued to rise.. which wasnt a surprise but i failed to find any decent position on it to enter a long, think i posted about not being able to find decent entries. Took some hits on many scalps on friday.

Quite Frankly GU was by far the stablest pair to trade on friday... very predictable in many cases except for that large drop at the end of the session. that one came a bit unexpected.

Looks like next week will continue the bullrun though, inverse h&s got completed but it failed to take out a demand zone and bounced right off of it.

Also it failed to create a lower low, so unless it fails to make a higher high im not convinced of the shorts yet.

We shall see...




EDIT: It also did take out most of the compression on H1, directly into demand, so yeah.. watch EU and GU next week basically

Also @Red about silver and gold: Since i usually dont trade them but your last comment about them dropping was interessting, i only see them going up further to be honest. Silver is usually kept artificially deflated but im sure its goign to explode further up by the end of the year, also it kind of isnt to far away from historic highs.

Thanks for your analysis, Orbital.
have a nice day.

its 4.12 am here. i better have some sleep.
Tc.

A little bit of food for thought of eu for next week
What do you guys think?

hmm depending on the frame..... i'd like to buy as low as possible for 3900,40xx.... 3860 will be the key.

..........and now







most traders would call this a whipsaw - level taken south then north again but there is a reason it happens like that, catch retail out in both directions creating the idea ITS RANDOM ........... BUT ITS NOT AND NEVER HAS BEEN, NEVER WILL BE





will have to monitor S&P for insight - this is useful especially with respect to loony which the following post will show

both DX and UJ approaching historic extremes and tls ........... there have only been a few occasions UJ has went into yen phasing, troubling ........




cadjpy @ support and if this hammer holds and UJ goes north in either yen phase or DX phase in accordance with DX levels this USUALLY drops loony further south. However, @ these levels correlations between UJ, CADJPY and loony may get broken .......... seen this a few times in the past @ extremes ........ inotherwords - UJ, CADJPY AND LOONY ALL GO IN THE SAME DIRECTION DUE TO HIGH DEGREE OF MANIPULATION which is often the reserved for NFP







looking @ daily zones and checking lower TFS


will be buying loony @ every bullish tone it gives us - will catch the low if indeed this is a low

check daily levels on CHFJPY


this pair is inverted to SWISSY in phases - that swissy is also a buy on every bullish tone it gives - many extremes in the market


....... can't see this continuing - reakon we are in for some correlation rule breaking and screwing long term trend traders

........ you heard it here first

trading is not about profit

..... it is about a belief system right or wrong

You have nothing you believe in truly ............


......... Nothing you can put it all on the line ....... Do ya



...... Nope

I DO

Good morning red ^^

I wouldn't discount the fact that trading is about profit red, but ill be glad to discuss this with you in skype once i find out where the fuck ive hidden my emergency stash of vodka.. brb in 5 minutes

GU
Price Reaction will tell