It might be time to get back into the action, We could see Aussi back to #1 by Friday.
If predictions are correct and virus deaths peak this week and start to roll over we could see some big up moves for Stocks, AUD will be the play on the currency side
Speaking of stocks, Nasdaq is now only 5% below its all-time high,
And please, what is the smaller moving average overlaid on the 200? Also, what types are they - the moving averages?
Thank you
I do use stops to lock in profits, or well below support areas, I would not recommend not using stops to most people, you need to trade the way that is right for you, Stops is a big subject and not one I can easily cover in this thread, do your research and find what is right for you
Aiit! Thanks. What about the other question?
Markets are clearly looking ahead past the current pandemic, EURAUD* is one to look at
Maybe currencies are being rated by the impact of the Cerveza Sickness on actual Economies.
At this point, Middle Earth is holding up the best… can it continue after lockdown is over??
We will see the USD fall down next week , Sir ?
AUD from worst to first in just a week
Best to look at Top Trade EURAUD* on the weekly, in this up and down market will we get another big down candle or a pullback, flip a coin
I will consult my crystal ball and get back to you.
2 minutes later
I just consulted my ball, first, the ball scolded me for not keeping my social distancing, but it did answer your question, the ball said " flip a coin"
For EA pair, I think with strong momentum like last week, it will go down heavily in couple days!Tks Sir
We start the week with EURAUD* our Top Trade and so far we see a continuation from last weeks down move
AUDUSD has just about corrected itself to the downtrend it was on before covid struck.
EURAUD is still a way higher than it was. Since things are starting to return to normal, and Europe is hit so hard, there might well be legs in this trade…
Looking at yesterdays Top Trade EURAUD we see why we take profits and use break-even stops. This was a good trade I hope you locked in soom profits before the pullback
AUDCAD is now our newest Top Trade, as you can see by the chart price has overhead resistance at the 200 da, maybe if price can get above that this might work for us I am just not a huge fan of pitting one commodity currency against another,
Euro is rolling over again, Top Trade EURAUD may make another run lower
Guys, the answer is to trade with an automated system. If you have any questions just let me know!
Hi Dennis, great thread and methodology.
May I inquire on the reasoning or theory behind using the H4 200MA for SW ranking/analysis?
Thanks
Hi chiefud, welcome to the thread
we are focused on medium term moves also called Swing Trading, the H4/200ma gives us about 34 days of data and I have found that to be a good time period any shorter and you get a lot of false signals
hope this helps
If you don’t mind me asking, @Dennis3450, does this mean that you trade on the 4 hour timeframe with the 200MA?
Cos I always thought that you use it for the analysis alone?!
