GBPAUD: DOUBLE WICKS + News Trade Short
(1) The chart is obvious: TWEEZER TOPS!
What else do we have?
(2) Fib resistance
(3) Horizontal resistance from the daily chart
(4) Stochastics turning around in sell zone
(5) Australian fundamental news is to be BULLISH based on my predictive analysis, and other economists agree. I expect a surprise attack right here.
My stop is suppose to be above the high, and that is where I will put it. I will put on the chart a stop above the candles, but that is not what I am doing, because the news is coming out. After the smoke clears, then I will decide whether to stay in or bail out.
What else do we have?
(2) Fib resistance
(3) Horizontal resistance from the daily chart
(4) Stochastics turning around in sell zone
(5) Australian fundamental news is to be BULLISH based on my predictive analysis, and other economists agree. I expect a surprise attack right here.
My stop is suppose to be above the high, and that is where I will put it. I will put on the chart a stop above the candles, but that is not what I am doing, because the news is coming out. After the smoke clears, then I will decide whether to stay in or bail out.
Comment:
Many Strategies: All-In-One!!
Comment:
PERFECT FUNDAMENTAL RESULTS:
august 17, 2016L 9:30pm EST
AUD
Employment Change
Actual: 26.2K | -consensus: 10.2K | Previous: 7.9K
AUD
Unemployment Rate
Actual: 5.7% | consensus: 5.8% | Previous: 5.8%
august 17, 2016L 9:30pm EST
AUD
Employment Change
Actual: 26.2K | -consensus: 10.2K | Previous: 7.9K
AUD
Unemployment Rate
Actual: 5.7% | consensus: 5.8% | Previous: 5.8%
Comment:
Either stay in for more for the UK's retail sales event or take profit. It was a great trade!
This is the power of fundamental analysis.... trade through the knows with a well-informed view. It also is not perfect.
Lessons#1: Managing risks must still be the same just as in technical analysis.... especially when combining the two.
Lesson#2: A lot of people claim that they are using fundamental analysis, but they are not. They just read from the economic calendar and play with charts....guess and not actually knowing. lol!!
This is the power of fundamental analysis.... trade through the knows with a well-informed view. It also is not perfect.
Lessons#1: Managing risks must still be the same just as in technical analysis.... especially when combining the two.
Lesson#2: A lot of people claim that they are using fundamental analysis, but they are not. They just read from the economic calendar and play with charts....guess and not actually knowing. lol!!
Comment:
On this news trade I took profit in GBPCAD... hard to update it. It would be better if I could just call out what I am doing at the moment rather than typing an update.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
