Well done tell, I just got in on the Aussie 0.97900 short as it confirmed on 2 hour TF.
Closed this trade prematurely with 50 pips profit. It looks like this pair has breached its downward channel and may be consolidating sideways for a spell.
I also got out, only got 15 pips though.
From now on every upward correction will be useful to increase the short position on the Aussie; a new bear market is definitely started.
This chart shows how my short trade completed to its target with a 200 pip gain.
Next up - does the bear move continue for another 200 pips? I think so. Let us see if we can find a good entry point after the bank holiday.
Bullish direction again for me: it is confirmed by the sentiment, which is still to too negative on the Cot Report.
The spread is to large,as for me
Bernanke is helping to accentuate the weakness of the Aussie: the bull market is over.
I think that next week the meeting of the Rba will provide a good excuse to cover the excesses of oversold on the Aussie.
So you think the Rba will cause Aussie to strengthen long term, or just provide short term correction before continuing what i still see as long term downtrend ?
…sorry for my delay. I believe that all central banks will adjust the exchange rates in their favor in the coming months, the Rba devaluing the Aussie in the long run while avoiding dangerous falls in the short period.
August could be a difficult month for the Aussie, but with such a depressed sentiment at the end of next month, a long has to be entered.
Double top in sight for the Aussie at 0.90…?
I love your indicators on the first page. Please could you tell me which they are and can you get them fot MT4
Many Thanks Jack
Bearish engulfing pattern yesterday for the Aussie, exactly on the resistance of area 0.93. New downwards in sight.
What time frame are you looking at? It’s a potential double top on the 1-hour too, but that could also be a bullish pennant. Let’s see how it goes! Did you short yet?
aha… ill think first…
What’s your game plan for this pair for the FOMC?
What do you think of a long trade if the FOMC doesn’t taper and a short if they do taper? Need help picking entry levels though.