Currently in a short on this.
RSI is over extended with Price action candles moving with small bodies and a very slow pace.
An impulse move is currently in the making.
tried out a short at 6685 with stop loss 6721 which didnt work out, signs were there to jump out in profit but i can't help but hold my trades till they get stopped or end as I plan, probably a hindrance to my trading but anyways.
If you don't know why australia is totally screwed and is facing at the very least a pretty awful recession then it's time to some...
Noting much has changed since yesterday so I'm still waiting for a Trump Tweet to get things moving.
The markets are still correcting last weeks fall and the safe havens wait for more in flow. On the news front Recession seem to be the new favorite word.
This is not investment advice
Share and like if you find this useful. All links are below this...
Powell speaks today at Jackson Hole so the market is waiting to see what he has to say about the US economy and more importantly interest rates. Here I give my outlook on what may happen and how to take advantage of any moves.
This is not investment advice
Please share, like and follow if you find this useful
All links below
Steve Nixon
logicfxtrading
Today I have changed tack from my usual Summary. I have focused on an analysis of the major stock markets and presented the evidence which I think points to a deeper correction.
This is not investment advice
Please follow, share and like if you find this useful
All my links can be found below this chart
Comments and questions are welcome
Steve Nixon
logicfxtrading
Small trade on daily chart - Looking for 1:1 then trail stop on remainder for 2:1 target
There is some support on this not far away and T2 would be the 50 ema on the weekly which would be a good place to get out of shorts as longer term investors step in to buy
Here I discuss my long term analysis for the world economy and where the opportunities may present themselves.
This is not investment advice
Questions are welcome
Please share and like if you find this useful
All links below follow for more info and updates
Steve Nixon
logicfxtrading
The dollar index is still in the flat correction we saw last week. The good CPI figures we saw today haven't had much effect so far. I still think it will break short but only time will tell.
As I write money is leaving Safe havens and going into the stock markets. Gold Silver Yen and Swiss franc are all pulling back and the stock markets are moving long. This may...
While the dollar is resting I've been looking at opportunities elsewhere and no place better than GBP. Today's UK GDP has come in at 1.2% down from 1.8% last time. Given that the UK is preparing for a No deal Brexit and the EU are refusing to re enter negotiations I can only see down side for the Pound. Naturally we have to find suitable currencies to trade...
The US China trade war has just gone up a notch or two and we could be looking at the start of a world recession. The sequence of events went like this. Wednesday The FED cut rates by 25 basis points, result the dollar index goes long. Why? Because they were dovish in the statement and the market was expecting more cuts. Friday's employment figures weren't good so...
The S&P/ASX 200 index (also known as the XJO) is the main benchmark for the Australian equity market (replacing the venerable All Ords as the industry standard). The index is made up of 200 of the top stocks, which boast a total value of around $1.1 billion (end of March 2010).
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