Great post, my only disagreement is I see the US heading straight to Fascism, in fact we might already be there. Looking at the US economy and military actions, we far more resemble 1938 Germany then 1938 USSR
Star Trek Original, episode Patterns of Force , is a scary illustration of where we are headed
Just my view, lets take any further response over to the Political Opinion thread
heil biden
Powell is getting his wish. He wants the stock market to go down. Asset inflation.
this is ( in my opinion) the number one cause for the wealth gap in the US, During stock market declines/recessions the average American is selling their stocks just to meet daily living expenses while the cash heavy rich are buying stocks at bargain prices,
Bitcoin has broken ranks with stocks, We also have a weak yen on a down day for stocks, not the norm
eurchf long is up nicely today tryiing to tackle the 8700
Strong day for all Yen pairs
Stocks continue to fall off the cliff, with some gains by Euro but that could just be a dead cat bounce,
August will be a negative month for stocks and September is setting up for more losses and maybe a new yearly low. This all points to a good month ahead for staying long USD
If you want to trade on candle sticks then it was the pinbar reversal on Aug 2 that was your signal to go long
We have reached the end of August with the Euro making a nice end-of-month run, If you are thinking about or are currently long the Euro, this is a countertrend rally and it could end very quickly
Current Top Trade GBPUSD short has three straight down days since becoming a Top Trade, up 150 pips, that is a nice way to end the month
This is why I say you must be careful with these countertrend rallies, if this candle holds then the Euro rally might be over
In early trading stocks are down, USD is strong, EUR is weak
Top Trade GBPUSD short has given us 4 down days in a row and over 200 pips
Top Trade EURUSD has been working against us, but today’s action might signal the downtrend has resumed
Is the EURAUD still included as an active signal / trade?
When does a top trade becomes obsolete. Sometimes the top trade changes everyday and I get confused whether to enter a trade or not. I will be greatful if someone can help me with this. Thank you
Hi litepips,
Short answer is never, I will tag a new top trade with my blue up or down arrow on the daily chart and then track it, we have seen some of these trades continue to make new highs and lows for months after they become a top trade. Now my tracking and your trading are not going to be the same,
Hope this helps and welcome to the thread
kind of the same question asked by litepips, after giving us a short signal on Aug 8th the trade gave us 180 pips then completely retraced, only to head lower again and this time for 300 pips below the entry point only to again retrace the whole 300 pips and now looks to be set up for another dive lower.
My basic stratgey is to take profits on half my position at 100 pips then let the trade run with a breakeven stop, the pullback would have stopped me out. The trend is still very much down and reentry is what I would be looking for.
I hope this helps
Hi @Dennis3450 GBPUSD has had a magnificent run for shorts and I’m delighted you’ve profited from it, but it’s now about reached it’s multi-year historical low of April 2020. Thinking we might see a bounce north? If it doesn’t then there’s nothing to stop the two currencies reaching parity, which as far as I’m aware has never happened. Me personally, I’d put in a long-term trade long based on the logic that it can’t just keep going down for ever (although I admit I did used the same philosophy shorting EUR/CHF and was proven wrong). What do you think? Surely this pair has reached or is reaching its floor?
It all depends on the time frame you are trading in… if you could have been on this weekly trade since 05/31/21, over 2000 pips would have been in your pocket;
after beginning the day positive, stocks sold off into the close marking three straight down weeks, September is not looking good
we just had EURUSD reach parity so I would say it is going to happen, if not on this run then after the pullback
