A nice potential set up to ponder for the weekend, is EUR/CAD. Hit the upper BB yesterday, spiked through it again today and is currently trading below the SMA5 and looks likely to close below - time will tell. The kicker is, the Weekly candle has also gone through the upper BB, and retreated. Going through the upper or lower BBs have high probability of reversal, cheers M
Monthly Profit - Daily Trading using SMA
- #2,722
- Sep 16, 2016 11:21am Sep 16, 2016 11:21am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
- #2,723
- Sep 16, 2016 11:25am Sep 16, 2016 11:25am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
Call me as you want but for the first time i see these beauty 
- #2,724
- Sep 16, 2016 11:30am Sep 16, 2016 11:30am
- | Membership Revoked | Joined Mar 2016 | 1,615 Posts
Guys, please don't post external links promoting other chat rooms, mail services etc unless BK8 is happy about it. Very disrespectful.
- #2,738
- Sep 16, 2016 1:22pm Sep 16, 2016 1:22pm
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
{quote} What makes you think it didn't work? You weren't stopped out. The trade is still live. Just because one day did not go your way initially, doesn't mean the setup didn't work. I took this trade as well despite being hesitant about it due to it not touching the bottom before reversing. It moved down on good CPI numbers for the USD this morning, but it stopped at support. There is a good chance this is heading back up next week unless there is a surprise from the Fed and they increase the interest rate unexpectedly (which is doubtful).
People keep trying to price in a September Rate Hike, and that pricing in soon fades, when FOMC members keep confirming that September will be no rate hike, well not confirming, but hinting
I think it stands at 22ish% for Sep rate hike.
- #2,739
- Sep 16, 2016 1:23pm Sep 16, 2016 1:23pm
- Joined May 2008 | Status: Trader | 1,158 Posts
Bk8: great show with your G/A trade
{quote} hammad i think it is not rangebound but in up trend. {image}
But again, I am also LONG, decided against my own thinking.
But again, there is only one crash in stock markets and price will shoot up so the NZDUSD. NZDUSD is above at it's trendline. May be it will hit BK's sell PT.
