AS i mentioned last time that XJO was fighting the 200MA that was aligned with the 0.618 golden fib, apparently it lost the battle and decided to consolidate below it. But does t look like it is going to make one major decision which will be written down in history? lets dig deep and analyze. XJO after failing to conquer the 200MA has been shy and it even failed...
The times have changed for the retail trader, and in essence scalping and day, trading has, in essence, become a complete waste of time for the average person looking to make even a small gain in the FX market. In the last 6 years, day trading and scalping have become worthless strategies, only done by those who are ignorant to the situation behind the scenes that...
The market has over extended now and as i have mentioned in my previous post, i am expecting green this week. Today's close is evident of that and looks good for a 1-2 week up trend. I Expect us to reach the red area before heading down lower. friend of mine mentioned that US earning reports re coming out in 2 weeks. This may be the catalyst that takes us lower...
I did not expect such strong selling through the 6000 level so soon. I was honestly expecting a bounced at 6000 with long term support (trend line) holding.. I guess THEY had other plans ;) The selling occurred due to the $DJI breaking support and dipping just under 6%. Second target in sight, however, the fisher and RVGI are both over extended so I expect some...
I don't know what happened today, but we are almost there. TA > FA.
Long until Fisher bounce 50 EMA about to cross 100EMA - Long until cross. Most likely will double top at 4.41. Rules from daily still apply... except $6 looks unlikely for now. Highest volume week for a while approx 2 weeks ago.
A bull div is forming on the daily, looking at a retest of resistance a 6233.9. Larger time frames (3D and weekly) still say down. Fundamentals (economy, banks, dollar etc) also say down. Will update once we approach the level. Current sentiment - long... extremely short term though.
I've been watching this closely. Mutliple channels being formed and breaking down. Today the $AUD broke the 0.72 support level. House prices have dipped 6.1% this year and the cash rate was kept at 1.5%. I believe we will see 6000 soon. Hoping that will hold, otherwise the blue box is the target. As stated in my related idea, interest only loans are about to...