MDSADI

MDSADI

Just got off from longs, anticipating more range bound actions in this pair. However, i would accept loss if price closes above 1.95200 on a daily candle. GBP retail sales tonight can take the pair for a big ride. AUD employment data was neutral , the impact of rate cut by PBOC should be ignored shortly. I got in at 1.94600, would be happy to exit around 1.93800

MDSADI

This time GOLD approached $1600 in a very calm manner, it pulled back to test the monthly breakout level and now slowly grinding higher. We might see short term shakeouts but with the sentiment building up in broad context , the path to $1800 doesn't look over the top. I am not long on this market , i always tend to short gold and make money from pullback from...

MDSADI

Its evident that we are in a weekly descending channel and their is a gap to close which was created 2 years ago. Here, the best entry would be to plot 10 ema on a 4 hr chart and wait for price to successfully close above 10 ema and retest for the long to sustain. Please see related ideas to understand my approach on this trade. This trade would be invalidated, if...

MDSADI Updated 

Risk off is in play, but yet we are seeing GBP/AUD struggling to pierce through 1.94500, if price continues to stall here then a meaningful pullback might happen in search of greater buy pressure . However it's prudent to wait for London session and see how pound plays out after the wage data is released. A 4 hr candle close above 1.94800 would invalidate the idea

MDSADI Updated 

technical signs are bullish, with the absence of fundamentals, lets buy pullback on the long trend

MDSADI Updated 

If asian stock markets are down, the idea would work out

MDSADI Updated 

With 14k new case reported, aud should be under pressure

MDSADI

As we can see on lower time time, we are slowly grinding to the downside by creating bunch of lower lows and lower highs. Their is no point of trying to catch the low's as we don't know when its gonna stop. Rather my strategy here would be to identify broken support on smaller time frame and put a 5 pip + buy stop should it decide to reverse. Well, this has the...

MDSADI Updated 

We don't have news scheduled for GBP or AUD today, we have a 4 hr descending wedge. It can breakout on either side, so i would trade this intraday with buy stop and sell stop with 50 pips target. However, i have a buy bias until 1.94500 is tested

MDSADI Updated 

It's a risky trade , stops can very likely get hit. I am staying on the long side, because the dominant trade is up and we are still in risk aversion ( downside for AUD remains ). However, the month to month GDP growth need to be positive, else this trade unlikely to work. From recent price action, It's clear that 1.94200 worked as resistance, then 1.93730...

MDSADI Updated 

Since UK GDP is due in next 48 hours, i don't think it should make a breakdown yet, plus i see a bullish cross over developing in 4hrs, it could well be a fakeout as well. If it doesn't double bottoms or goes up from here then we can expect further drop to 1.90750. I have longed 25% of my intended long exposure at 1.92450, would increase exposure, if Pre-london...

MDSADI

Crude oil need to go up and US dollar need to weaken, we can't ignore the fact that cad weakness began after BOC's rate decision and when it became clear that the monetary policy statement hasn't maintained its hawkishness. Most traders would be short as they see see on the left and find good supply zones, but it can be a tedious sideways price move and...

MDSADI

We are in risk aversion and risk on flip flop environment, i can't anticipate fundamental development but rather rely on a technical setup with appropriate stop loss

MDSADI Updated 

Actual nfp data likely to vary from ADP data as previous trend suggests

MDSADI Updated 

Surely, we have a pause on down trend here , that means any dips can be bought prior to London opening. The downgraded GDP forecast in monetary policy statement with an assumption of one more rate cut in 2020 had taken the pace out of aud bulls for now. As long as GDP stays where it is, we shall see GBP AUD reclaiming 1.93 level

MDSADI

I am only buying if ECB forecast tonight is welcomed by Euro bullish price action, the week still has two days and can well create a long wicks and continue bull. Most traders are looking at daily and seeing 1.1000 as the demand zone, since we gonna start next daily candle below , lets play safe and buy after confirmation

MDSADI

GBP AUD is one of my fav pair due to its huge ATR, best for scalping. But, however a chance may rise in coming days to take a position for 2/3 days. I am not looking for down move until we have a new low and then a new lower high. Since we have a bigger uptrend, it might be wise to look at places where down trend move might stall or reverse sharply We have AUD...

MDSADI

I am currently short based on monthly channel, but we also have a ascending channel support showing up on 4hr. Technically it looks like a run to 1.95 isn't unlikely, so i would take my chance here getting in at 1.94100. Let stops take me out. Its an anticipatory trade, no confirmations found yet and RBA can have GBPAUD go way lower !