The Fundamentals of Trading

GBPAUD

I am not much on patterns but sometimes they really work, there is a really nice double inverted Head and Shoulders on the 4H Chart and can see it squeezed up on a 1h chart

RS and LS at 18620 and Double Head at 18500, very nice respect of those levels to create that,

nice to look at not sure you can really trade it safely as yet.

Simon

GBPUSD Analysis



Simon

NZDUSD Analysis



Simon

Price Behaviour



Simon

GU
If we go down at news time then 14144 will make a retest point.
Simon

Good morning Simon,

It has been a while we have spoken about Aud/Usd, I have attached live charts, daily and 4-hours, seems like it want to break this level, your thoughts!

yep 7669 next level for AUD

but actually i don't think that will hold with any real conviction either, not enough time

7788 is better, but not great

8080 is the best level but this is a number of weeks way

that was worth waiting for

NOT

What does price tells us about the big cash in the market after pound news

it should be screaming in your head that they want to sell it

why cause we have seen a news print which was twice as good as expected and it barely goes up

Its what didn't happen that's important here

Simon

14315 on Gu being respected for now, if it holds then scope to come back to 14175

AUD 7670 enters the sellers range up to 7700

Simon

GJ entering the next potential sell area

15480 - 15500

Simon

Aye, it's taken long enough eh? Thought this correction would happen a bit faster actually.

GJ

has room to go to 15320

even though it shot through to 15540's price action never had follow through as 15547 was the top of that little range, I initially thought 15510 would be the top this is why i say wait for reaction.

I telegraphed this earlier, this trade illustrates why on minor levels you watch first act second

Entry 15539
SL - 15571
Profit targets - 15380, 15320

This is with the overall trend so even though 15500 was an average level with little time that's a steep trend down

and hopefully when it gets near 15280 we can long it back up the hill

Simon

GU

That piss poor push up said everything at news time.

GU now going the direction that big cash initially intended at news time.

Simon

Price action is never about what someone says its only about reaction on the charts.

master this, master your money management. and your a winner among a sea of losers, its literally that simple.

Warren Buffet once said that wealth is the transfer of money from the impatient to the patient.

I could not agree more.

Simon

Good evening (at least for me) everyone!

Take a look at the chart below. I think its wise to watch out for the level around 1.2729.


What do you think?

Pete

why is this level significant

Simon

Good Morning Simon,


Look at these two charts, they are at good point GBP/CAD, your thoughts ? I will wait more before I plan to place a long, especially with oil bouncing, GBP under pressure and new event week for CAD.

Morning WorkingForex

I really don't like the level around 18200 in GBPCAD and the reason is this:

- have a look last time it reached there was there any real acceleration out from that price, it just bumped along, doing nothing until the sellers finally gave up. Acceleration and time are the biggest factors with levels, this makes them significant or not.

If you look at price on the 1h and 4h chart since hitting this level is there any thought of buying here, its as weak as a lettuce leaf so I wouldn't be buying here

I do like the level you have below this at 18040, nice acceleration out of it, nothing has gone near it for quite a while, given the steepness of the fall in this pair:

1. It may need a retrace first before it gets here, although looking unlikely at the moment
2. The reaction to this level will be the key thing to watch, that is a lot of selling so there needs to be a lot of buying to stop it.

Simon