haronbg

from now on until the 23rd is break from trading

FX:AUDUSD   Australian Dollar/U.S. Dollar
30 1 2
As you know maybe already I trade both technical and "fundamentals". By fundamentals i understand, what the paid media is telling me coupled with logical bias. If I do not understand something I just stay aside. I picked this chart for no particular reason, due to the fact the you exhibit the same chart structure on the charts.
In the last two days we had classic risk off trade. Dollar, gold             and yen were bid. Then came the killing of the UK lawmaker Jo Cox and that according to Bloomberg (payed media) prompted relief rally under the assumption that her death will push the voters for Brestay, Where is the logic, I will leave it to you. So what does that tell me? Grab a nice beverage, close all position what the markets, take notes and have a nice time off the markets. Until the 23rd.
Today is Friday, nothing major from data point of view. I rarely trade on this day. I haven't done comprehensive stats, but Friday is chop day unless we have some news around that day, NFP for example. My trading stats are showing me that I perform poorly on Friday and Monday.

So what to do with that pair. If you are bullish that pair then wait for retracement down to 0.73500 or wait for a break of the supply and again wait for retracement back to 0.74- If you are bearish play vice versa with the supply zones.

have a great weekend and do not forget not trading is trading.

cheers
haronbg
5 months ago
As you can see how the markets are respecting the supply and demand zones.I haven't yet fully crafted the trading of such levels,because I still have the fear of the unknown. Unfortunately I do not have the order books to see where the big orders are located. I can only guess from my miserable mt4 platform!!!!!!!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out