Lol, I am flat on this pair since weeks in my real acc. Beside of my bots, but they do what they “think”. It’s only that I see a hammer on the weekly, I see a higher low on the daily and I see it hovering right now around the 200 ema there. Frankly, it never crossed it really convincing. Then my special indi says it’s a little more bullish right now. Just some facts.
Plus I can’t see that this pigs babble will work a second time short after another. In a few years, okay.
Then if I look what ppl do at a day like today where no big news came out, they go into everything but the buck. That’s why it dropped across the board today.
Symmetry of the 4hr move suggests 1.355-1.36 bull move but resistance level here is key 1.3455ish.
Stopped out of short early this morning as tightened stop, looking to re-enter if there;s some kind of sell signal.
Bit tricky on FOMC day…
Good 30min sell signal, would like to get back to 34 and the 3380 before FOMC and then I’m out.
Cable is on Daily 50 fib retrace as well but news out in a few mins.
USDJPY in buy zone as well for those who believe it’s on the up - looking at the ichimoku charts, the Japanese traders certainly would be looking at an uptrend.
Nice. I’m not looking much at other pairs lately. Cable is a mess. A couple trades a day on e/u has been doing the job, and I stay more focused. I caught that short as well, then I bought the dip…as planned.
Thanks…was just busting your chops. A valid s/r yes, but the fact that it pulled back and made a higher high now…that’s the anatomy of an uptrend. It’s less likely to hold…we’ll see. It would have to break the swing low 1.3150 for me to consider it held.
I think gold might well be up considerably higher than 1500 in the near future. But there’s going to be a bloodbath before then as certain large financial institutions with huge short exposure look to shake out as many of the longs as possible. They often do raids right around now actually to drive down the price $10-$15 or more. 12pm - 2pm are their typical times if they decide to go at it though lately they’ve been getting quite cheeky and hitting it during thin liquidity after the Globex close. But it looks like the German and Asian buyers of size are not going to be shaken out so easily and they want the physical not paper. Same goes for silver with JPM in a rough position. Buying the dips remains a nice and easy tactic for now.
Perhaps a little perspective before we assume its a possible uptrend. The 1h, 4h and even day might look good. But looking to the weekly, we have five previuos weekly candles all in a down trend. This weeks candle although at the upper end of hi/lo (or if you prefer, across the tunnel) is in fact barely 50 pips above last weeks hi on candles that span 300 pips from hi to lo. Lets not jump the gun!
Were going on a 3rd week without a new low, besides a pin rejection off 61.8 To me that that’s a very good start.
I take it day by day using Large TF for a bias, and to avoid tunnel vision.
So, I don’t have to marry long term direction…but here’s what I’m expecting.
