So you’ve been pushed to your limits “technically” and the majority of you’ve been pushed off the field.
Hungry bears trading “too big too fast” crushed in the recent upswing and “right around now” eager bulls feeling that it’s “safe to buy the dip”.
Has anything changed?
Last time I looked ( 15 minutes ago ) this Yellen chick (now heading the U.S Federal Reserve) is sticking to the plan and the “taper talk” continues so……check your “fundamental heads”.
U.S equities “still” pulling the wool over your eyes perhaps?
The Australian Dollar ( which generally trades” along side risk” ) just had a brief meeting with its old friend the 200 Day Moving Average and guess what?
Same old story. These two just can’t get along,and yet again part ways – unhappy.
Things setting up for a nice lil “reversal” here if you ask me.
Looks like a great time to initiate a position. I’m in along with some EUR/JPY above 140.
Now we are talking.
“initiate” being the operative.
Great work as always David.
The Yellen chick. LOL!!!! She sure is not going to be the yellin’ chick 😛
I would love to hear / know more of what’s happening on your side of the globe.
Chime in here more often please!
The thing is , if we look at it fundamentally RBA turned to neutral , no more saying that AUD is high need to come down ,, plus all the data showing positive no out of AUD keeping it up ,, now the technical look ,, it broke through .90 tough resistance kept going higher ,, now fundamentally one more good news tomorrow and it will go more up ,,
Kong how do any of this says that AUD will go down in short term or near ?
i am short AUD so i want it down ,, 😛
In context Farhan….the AUD hasn’t really made any kind of a “fundamental move higher” on any of that news / info if you ask me.
Looking at even a daily chart, it’s barely even bumped up to resistance now around 90.60 / 90.90 so……it would be my thinking that perhaps you’ve traded too large, and have too much riding on a couple pennies movement in a particular pair.
AUD/JPY doing exactly what I suggested it would do here this morning.
Keep in mind ( I know you know this ) 100 pips reflects “a single pennies movement” so…..if a penny is breaking your trade, or you consider this a “fundamental shift” – you must have other factors influencing your trading, and this could get you in trouble.
I’ll repeat this again for all readers – No Forex trader can survive for any reasonable length of time, expecting to “nail it” time and time again on short term charts. It’s an impossible dream, and as the prior post suggested – all technical levels / factors / indicators / etc will be broken – as they are designed to be broken.
No , i have not traded to large ,, just had some questions about understanding the fundamentals so i asked you ,
Cool buddy…AUD has obviously stalled here so…..hang on!
Should see some good downside to follow.
there were more millionaires created during the Great Depression than at any other time in America’s history … this is the time