I Closed my long from monday on AUD/USD @ 1.0376, I think it was a better idea since the GDP will have heavy impact on the Aussie. Do you believe a negative Chinese GDP will be a turning point?
Looks like AUD/USD hit a solid resistance at a major inflection point! Check out what happened yesterday:
What happened to AUD/USD last Friday? Take a look at this chart update first if you plan to trade AUD/USD today!
What a snoozefest for the Aussie! With no data released from the Land Down Under, the Aussie bulls and bears were left to play near two inflection points. Check it!
I normally trade GBP/USD,this is great insight into another pair and sure would help,thanks
Looks like the Aussie bulls finally flexed their muscles! Which level was a good inflection point to enter a long trade? Anyone has ideas?
We have eyes yet we do not see. When our eyes are opened, we saw what was always right there in front of us. It is “hidden in plain sight.” I have talking about 88.6% for the whole of this week. Once i know the “what”, it becomes that much easier to find the “where.”
88.6% as a trading strategy, when utilised with other trading tools, should yield profitable results over time. Below is a screenshot of another 88.6% on the AUDUSD 1hr chart.
Do not ignore this simple trading system. Plot the FIBO retracement levels IN ADVANCE. When the markets makes a high and a low, preferably on a larger timeframe such as the 1hr or more, put in the FIBO levels immediately. Then watch what prices do when it retraces to the FIBO levels. If the FIBO levels coincide with previous major support and resistance levels, this gives double confirmation. This should give the trader extra confidence that the trade will be profitable.
Nice charts you got there, buddy!
Possible short entry with a retest of the DTL at around 1.0386?
Yo! Yo! Yo! It’s time for your daily dose of Aussie price action! Check out what happened to AUD/USD yesterday!
BigPippin do you see a retest of the 1.05 range, think we had it mid this year. With the election results is looking very bullish. Guess the RBA’s decision in next quarter or whenever they do major reviews (my whiteboard is filled with to many dates) do RBA do quarterly reviews or monthly?
RBA meets monthly (except Jan), first Tuesday of the month.
Thanks mate, didn’t have a sure day per month. Just been checking the calendar daily. Cheers.
Hai BigPippin
Is your 14,3,3 stochastic is applied to Close/Close ? or is it to Low/High ?
Thanks