Hi good people,well am just here to get some positive insights about next week rba interest rate event.
A scalper and am hoping to trade the event using pending orders as I have been doing before…so guys is it advisable to set my stop loss or take profit? precisely I thot I cud only set buy stops at one side of the chart and leave out the sell stops to redeem tym 2minutes before the event time as am hoping to trade AUD USD whereby am convinced that it’s Gona be a buy just looking at my storchastic levels…is it likely to be a buy or it might reject and make pullback?
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Why do you think it will be a buy? There’s no chance the interest rate will go up. We’re on the verge of a pandemic with Covid-19 and AUD has been seriously tanking since that all started.
The weekly stochastic crossed 2 weeks ago on mine, and it had another big red candle last week. I really don’t think it’s easy to guess which way a currency is going until this virus situation settles down. On the flip side, I’m finding day trading to be very profitable right now, because daily currency moves are huge.
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The AUDUSD has become a Fundamental situation… Indicators will be irrelevant over the coming weeks.
Last months devastating fires and the existential threat created by the Covid-19 Virus which is smashing our economy (and AUD) the RBA will lower the rate at least 0.25%… Guaranteed, (maybe even 0.5%!!)
The Australian Government is flatout trying to get Cash Ban legislation forced through before the RBA gets any closer to 0% Interest rates. The RBA has been saying for months that 0% rates are not going to happen… they now have the Force Majeure excuse they were praying for… “It wasn’t our fault… honest”. A situation that will generate runs on our Banking system without a doubt.
Governments need to remove cash from economies, thereby trapping depositors savings inside a digital Banking system so it can be used to fund a Bank Bail-In if the Banks should fail.
Who is going to leave their money / funds / savings in a Bank when you have to pay for the privilege??
Move it to BitCoin, LiteCoin, Gold, Silver, under the bed, buried in the backyard???
The IMF via Global Central Banks is about to turn the Financial system on its head… Just watch…
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Are they ? - In what ways can they ban cash ? - will I have to pay by card for my cigs ?
Thanks for raising this !
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Hey @Falstaff, How goes it…?
What is proposed in the original legislation is a $10,000 cash limit, so you cannot withdraw more than $10k from your Bank… So, everyone thinks… that’s not too bad, I very rarely have the need for this largish amount in cash…
What Australians don’t realise is that in the document to be passed into law… is a sneaky little clause hidden in the text stating that any further changes to the amount is now governed by Regulation… the stroke of a bureaucratic pen…
Read a little deeper into the legislation and we find KPMG (the Bills author…) suggesting that as soon as the Bill is passed into law, the aim is to decrease that amount down to $2000 (or lower)… So any citizens found in possession of $2k or more in cash will face heavy fines or the prospect of Jail.
The perfect fix to stop Bank depositors withdrawing savings and closing accounts once 0% (or lower) Interest Rates are in place. (See YouTube Vid Below)
Very few are aware of the IMF’s malevolent plans… Most people these days are walking around like the Eloi in The Time Machine, this is serious shite…
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Yes I use that simile myself sometimes - They sit there in the faux sunshine of their Wokeness, Praising the virtues of all the “Free stuff” their naive reliance on provided by those who would have them give up their time honoured defences of “guns” (USA), Free Speech, Chivalrous Masculinity and Family Values (Everybody) and insisting on ever more regulation and repression in teh name of “equality” - Just waiting for the Morlocks to emerge from “the devouring mother” of Peterson’s lectures and eat them !
I have to say that I hadn’t realised that France, Spain and Italy have already gone there 
Clearly there will be a flight to assets like property which makes prices rise and renders short term liquid assets like cash transmuted into long term “assets” and vulnerable to deflation
Their desire will probably be to create Inflationary pressure to combat the dreaded “deflation” - but that is dubious at best.
The locking of “Cash” into “Banks” puts us into a vulnerable situation where those with power can gradually shift us into a situation where “They” can use our own resources to lock us into a “Social Credit” situation like China whereby we can be “Fined” for any perceived transgression against some spurious “moral code” (law)
Perhaps I need to look at my own options !
Thanks for that link btw - Jeez ! as if ANYBODY with half a brain woul trust the IMF ? - They were the very inventors of the process of creating “Banana Republics” which the German Banks used so successfully to bancrupt Italy, Greece etc by their insistence on creating the “Euro” - then hard-selling “Development loans” denominated in Euros !
Thank the great god Evolution btw - that John Major’s drive to join the Euro by locking the GBP to the Euro in '92 was so brilliantly smashed by
a) The German Banks
b) GEORGE SOROS (he himself appears in the film and states he made “Over a Billion pounds” - that day )
If you have a spare 50 minutes or so watch this - Probably one of the last decent Documentaries teh BBC ever made ! (I love Thatcher’s resignation speech ! )
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Thnks alot bro for all those insights…well u really talked alot of sense to my ears and and a very good listener… according to all u have said,u very right and I take ur advice.
Looking at the markets together with this colonavirus situations,this might make the Rba interest rate to be dowish in that the colonavirus situations has made alot of damage to most of Australians big trading partners like China so, it also affects Australia economy…I guess i will try to go into the trade with both my pending orders also managing my risks as well.thnks again.wish u a good trading week!
What did you end up doing?