Disliked{quote} Why would you be bullish on this currency o_O when rate cuts hit aussie will plummet like it already has been. Just take it into perspective anytime there is negative aussie news it falls, when theres positive aussie news it rallies slightly, but then falls again. Obviously we are in a bearish sentiment atm, and longing right now is going to be like playing with fireIgnored
aussie is fundamentally stronger currency than USD. the rate cut effect will not long forever. the reversal will be sudden and it will strike bear like a lightening. clever bears are already out. but if aussie come up with more bad news they are ready to enter short, no question. otherwise waiting for a sign of reversal. i see these up movements as liquidation. so there is big money waiting which way to bet.
i am just trying to catch a good price to long with very tight SL. but it will be stupid to state that bear market is over. it may fall further, i am not taking this out of the equation.
you are always safe if you use proper SL and money management with low leverage.
remember this: "when everybody is bear, there are no sellers left anymore"
As Above, So Below
