USDCNH: The Move Isn't Now, But The Future Should Be Up

FX:USDCNH   U.S. Dollar/Chinese Yuan
240 13 6

Just came across this out of no where, I'm not looking at the here and now of this stock, I'm looking into the future.

We are currently in consolidation, and we have not left this range for some time. We have seen higher highs in this consolidation area, and we have a nice fibonacci confluence , long term zone, which lands on the area of consolidation.

I would expect after this accumulation, there will be a nice up move and for the longer term picture we will be looking to go, for the remainder of the year I would have thought.

NOTE: The moving averages are converging, usually this sort of action leads to an integral             , sustained price move, when the breakout is proper.

Obvious breakout level is above the line of the recent resistance.

Good luck to all,
King regards
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Gotta love bank intervention.
TomProTrader IvanLabrie
This shows that the 2014 low was NOT part of a three wave correction pattern...Today’s break above 6.3014 makes such a wave count WRONG and instead gives the possibility of creating either a more complex upside correction pattern (theoretically targeting the 6.48-area) OR a having entered a third of a third wave, which may give us much higher levels in a intermediate time frame.

IvanLabrie TomProTrader
Agreed, nested impulses usually produce these ugly bottoms before surging.
Maybe one more drop, but hard to say until it breaks.
Good luck going long gold...
RMB enter a long period of rising channel, but it also means that the dollar began to depreciate the RMB exchange rate
At MOST : There may only be some lower high peak (compared to 2nd of March's high) - as a last attempt up of the misled speculative bulls coz they try to go against the fundamental economic trend and will 100% fail.
I don't believe in the term "100% fail" in this game. Keep an open mind. May I also add, you're technically agreeing with me, because if this zone we're in is broken and we have a stint higher, that is the buying opportunity. Rendering my idea even in your "super philosophy", "100 percent correct"

+3 Reply
Patladj. TomProTrader
Yes, but best long-term trade opportunities now is to ride the fundamental world inflation wave that is comming. Informed traders now know that. That would mean sell the USD to buy everything else, because USD is the WR. You just need to pick entry points, if USD jumps up you need only to accumulate shorts on it and not close your positions whatever happens. The safer and most-profitable strategy having in mind how hard the fundament in favour of world inflation is RIGHT NOW. There are many mislead USD techno-bulls that are willing to get your dollars now on a very good price. Use them. You need to think as a trader now if you want to make money, not as a technician. The same way as you would trade simple hard commodity in the town. You need to go long on Gold, OIL, EUR, CAD, JPY, HSI, NIKKEI, S&P, DAX, FTSE. Just find good entry points and leave your positions open for years and years ahead. Huge inflation wave is comming. Deflation fears ended in the begginning of this year. The crisis is over. Trade as a trader now, not as a technician. Wish you well, and as many people as possible to hear my words and make money. Here is just one of many of the fundamental arguments
"You need to think as a trader now if you want to make money"

I find this comment out of your little speech very cute, considering I worked for many banks and Sachs for years gives me a nice indication, that I must know what I'm talking about. I wouldn't be bothered if you disagreed. But to tell me how to trade isn't what I would recommend doing, as I might put you in an awkward situation.

I give up my time to give people trades. And don't really take well to being taught how to trade by a glorified amateur who's read some google pages about an upcoming financial utopia. I could give you my speech on this, but actually my fundamental data research results and outcomes are actually a secret, and my ideas come up here, converted into ideal, technical situations (To satisfy calling me a technical trader, funny)

Since most people here are RETAIL traders, and i'm a PROFESSIONAL trader. I find your advise naive, and plagiarised, and actually quite rude. You didn't know if I was technical at all, you assumed, a lot like you assumed in your essay here. I am a fundamental trader, who optimises technical situations... But nice assumption

+2 Reply
Patladj. TomProTrader
I didnt mean to offend you. My post was addressed to all that read here, because I've noticed most of them are pure technicians. Not addressed to you personally. Don't take it personally please. I did not read any "utopias" as you say. The decisions on the market I take are mine and are result of own research and multiple sources of information. I rarely listen do other people's opinion directly. I was bullish on the US dollar the whole 13 and 14 year. I changed my decision on 6th of March this year, when my projection for higher high on USDCHF did not materialize, it's then when and I started actively to research extensively again, and in the following 2 weeks I changed my decision to short USD because world inflation was coming (I realized). The fear of deflation has subsided. I was expecting the deflation wave to be much greater. The Dollar Storm for which I was predicting since 2013 has failed to materialize on 6th of March this year. That is the date It should have happened. The expected deflation was much greater. It did not materialize! It looks like the monetized financial crisis was 7-8 years long exactly as the economy textbooks notes. Obviously the partial deleverage started 2008 stated in the economy textbooks after market crash has already taken place and now a new inflation wave (economic boom) is coming. I'm giving you a clue, make a research of your own please. What I speak is true, you will see :)

Good luck. Live well.
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