we start the week with a small pullback in Top Trade GBPAUD*, it was surprising how strong the Yen was on a day that saw US stocks strong
Watched it closely too but it’s a new week so is it ok to sell the GBP even tho the pullback continues?Any course of action for trading this week?
Those pairs are not in line with the current strong / weak chart, so maybe not, unless they were given as signal some time back
NZD is nudging ahead of AUD but shorting GBPAUD or GBPNZD is pretty much the same trade and not much movement or either so far this week
GBPAUD has already given us a 500 pips win, from here it is a coin toss if we get more downside or not and this is all about the Brexit so good news is bad for this trade
Hello Dennis, do you use any form of fundamental analysis to help you make a trading decision when trading strong and weak?
He posts a spreadsheet with numbers calculated from moving average values, what am I missing here?
why are you posting short term, intra-day trading advice?
this will only detract from Denis purpose which is clearly long term, trend following
Hi FOK, Clearly you havn’t read all posts from Dennis. I suggest you read them all first.
Currencies are very different than Companies, when it comes to fundamentals it is simply is that country’s Central Bank raising or lower interest rates and in case of the US the Fed is devaluing the currency by printing more of it, this should make for a long term decline with short tern moves up, Fundamentals for the GBP is all about Brexit news, fundamentals for Euro is will another country try to leave, AUD fundamentals are tied to China. Think of fundamentals like a river and is your trade going to against the current or down stream, I like down stream trades
Hope that helps
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Wow this is nice… thanks for this.
Yes it does, thamks
Looking at the GBPAUD on a weekly chart shows just how weak this pullback has been, and we are still over 100 pips below the 200 ma on the 1hr chart. If you are not already in this trade I am not seeing any late entry points, best to sit tight for now
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Top Trade GBPNZD* Is near the breakeven point, Look at the Yen inching its way up the rankings
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Hope some of you had taken EURNZD and NZDJPY today!
Just saw the ratings now…is it too late to take it?