Another thought (in defense of the 'change of game plan'):
Remember also - that there are MANY traders looking at the 50 EMA and 200 EMA - I do know this - I see and hear about it ALL day EVERY day on Bloomberg and CNBC.
Why does this mean anything?
Simple: if 'da big boyz' start selling off when the price closes below the 50 EMA what do you think is going to happen to the price??? Same if they start buying when the price closes above the 50 EMA!!!
It becomes 'a self fulfilling prophecy' does it not??? Same as Fibonacci levels!!!
By the way - once again - we're at the 'commdoll' phase i.e. it does not make sense to be long AUD/CAD and short Gold and Oil (well - OK - MAYBE on THIS pair it should make no difference if BOTH Gold and Oil are on their way down - but it would make HUGE difference if it were AUD/USD for example).
Regards,
Dale.
|