Price is hesitating after a bull break... I could buy but right now I would rather not.
I do not know if I can trust anything at the moment unless it is on a or higher.
DBK presents their in 2-3 days, if this starts a Lehman Brother event, well gold could rally up up uppppp!
I see no short until the baggy dream area really, just look for continuation technical entries and pullbacks:
Copper. "I think we go up" and "Buy area" does not mean I just jump in when the price gets there... I look for technical patterns.
1- Preserve capital 2- Preserve mental capital (for the weaklings) 3- Have the correct bias ("buy area" or "fundamental bullish" etc) 4- System to enter & exit (chart pattern or can be the time of the day or something like that "technical") 5- Find ideas (example scan all the markets once a week) 6- Choose your markets TF & strategies/stick to those 7- etc.
I don't know if I want to look at the chart every day see if I see something... I would look for an to a key level. It is boring and repetitive to look every day and every day there is nothing... Doesn't look like there is anything there right now anyway, so self reminder to check the copper chart in a few days or next week.
Silver. Dead for so long but it could be on the move again. It went up explosively but it is in a big big liquidity area now. It would struggle to get past it and then it would just fall.
I do not want to buy. Would rather look for countertrend opportunities.
Palladium. I think the bubble is over and we are in distribution phase. Going sub 1k.
Oil. Got no bias here. I just think the price is tightening and traders that are still alive (I mean not on vacation) are waiting for the market to tell them what direction it goes.
How can these big career managers just go on vacation and switch off? PEASANTS. I am 100% addicted to markets I can never look away.
Bitcoin. Good for laughing but I don't know if we will get the opportunity to short above 12000.
I scaled out and closed more than 50% of my short. I really would like for the price to go back up and make a triple top...
Will close at ~7000 and be long until ~10000. Idk if trading it is that interesting probably gets very boring again soon, I might quit.
Let's look at some currencies
EURUSD. Started going up but now it is just dead. It is very slowly going down (higher TF...) but there is no trend really at that point.
It goes up and down randomly in my eyes, stops way before support or goes way below it, target is also way off all the time. So tired of this BS.
Majors. NOTHING. NOTHING. GHOST TOWN. This reminds us why it is good to not be married to an asset. I can trade Metals, Energy, Bitcoin , Dow & DAX , if currencies all ended up dead like this summer and the last but not during summer.
EURAUD. Downtrending. Look for a pullback that won't happen, price will either slowly go down or just flatten AAAAAAAAH.
GBPJPY. Got stopped on that buy, I have doubts on that trade but losing once does not allow to draw any conclusions.
NZDUSD. Got an alert up there (blue line), looking to be short there if there is a good (good in my personal jugement and according to current conditions hey would be too easy otherwise) reversal chart pattern, if there are no crazy news, etc.
Could even end up being a big one.
Think about it with FX the potential is damn unlimited. That arrow is huuuge but zooming out it doesn't look like that big of a deal. Trends can just keep going... Imagine you have tight risk, then it goes your way it you make just £15 per pip aka £1500 per 100 pip (1.5%), risked 0.50% or £500 down that arrow you made £21000, at the first support you made £27000, second one £44000, if it drops below that very important level well then... UNLIMITED POWER!!!!! From just risking 500 quids. It is not unrealistic it happens all the time. Would not go in a straight line and would take a while, but if it flies past target you can just stay in for free, and as long as it does not retrace more than maybe 38.2% just stay in until UNLIMITED POWER!
To get the same returns say you bought BTC at 5000$ (and risk all since that's the rule apparently) to get 50K+ you'd need BTC to make it to 500K.
That's a market cap of 10 trillion. 100 times bigger than 5k BTC and it took so much time effort and people to get to that 5k... At 20k 10% or more of the whole planet was in...Tech stocks are even more capped.
EURGBP. Price got to my sell area and dropped. There was no pattern, yet. Just a little indecision at the top but this is not good enough for me.
Now I would want to see the price go back up, with tops separated by 10 to 20 days I guess, no bad news or big planned announcement would be nice too... Making a then having some good news on brexit would be awesome.
EURCAD EURCHF EURNZD . All in my watchlist, in downtrends (especially EURNZD other 2 stopped going down at a ).
GBPAUD. Looking for a retest of somewhere in the 1.80-1.82 area and then I will join the trend. A fake higher high reversal baiting noobz.
GBPCAD and some other GBP minors. Same as GBPAUD but I am seeing something so perfect. Actually I see alot of boring charts but that look like something early, perhaps they slowly go to form great trades by mid september. I had to withdraw from my broker I made no money for 2 months everything is depressing and I am poor and every thing seems lost but I think this school year start will be great! Poor little kids will have to wake up early and be miserable and my own life will be amazing! :D
I have a huge feeling this autumn will be GLORIOUS! GLORIOUS! Can't wait.
Ye I am always over optimistic. But I really have a good feeling about this xd
I might look pessimistic from my bear ideas but I never said I would be rekt. I always said OTHERS will be rekt and I will be victorious. Having a glorious quarter or semester is great but OTHERS being miserable is icing on the cake that truly makes me beyond euphoric.
"It's not enough that I should succeed, others should fail."
Swedish Krona pairs. Nothing short term, but I am still watching. Could get a big one in a few months.
People would have laughed at me if I made the same for the soviet union just a few years before 1990...
And now people laugh at me for saying east europe and central asia countries (Uzbekistan...) have not always been 3rd world dumps and could bounce back.
Special guests DJIA DAX DBK TSLA
I only see interesting things for the indices on low timeframes (H1 and under). Must have 0 exposure by tomorrow.
So to sum up, this week might be very important for the economy, a few euro pound and nzd pairs are to be watched (all correlated so it counts as 3 + EURGBP maybe so 4 EUR minors GBP minors NZDUSD but actually correlated to EURNZD? And that EURGBP short), gold could be moving but no entry, silver I would rather fight the trend but not right now, otherwise there is nothing going on in the near future.
EURGBP: short against the trend weakening on a .
EUR minors: join the trend, continuation or .
GBP minors: join the trend, continuation or .
NZDUSD: countertrend at the top of triangle in a while.