About metrend trader. 10 years experience. indice, currency, bond and commodity markets. mid to longer-term trends to maximize profits. let winners run and cut losers short.
How I trade:
Joined 8 months ago
Similar to the NZDUSD Fx Pair, AUDUSD also shows a sell signal to continue its overall downtrend. Previously it was sent up into correction by 2 divergences, than Supply came in and wouldn't let a week close above 0.7750. That makes for a strong resistance level which could be the highest high of the correction, ...
To follow the overall downtrend (monthly), the NZDUSD has created a new fractal sell signal to follow it. We don't know how far it will go, just hopping on the prevailing trend and paying attention to price action is all that's necessary.
Nothing much happened in Gold during the last three weeks. Overall timeframe stays above balance zone, which is an indication for long. Internal correction not over yet, let's see where it'll end before the resumption of the previous uptrend becomes more and more likely.
Bund was trending up consistently throughout the last years, with the close of this week price has broken through a significant breakout level (sell fractal) and sends this market into an overall correction mode.
Weekly Recap (video) chart of Gold doing exactly as anticipated (indicated by black lines), market drops exactly into previous demand and then rises like crazy. Could be the end of some internal correction, continuing weekly uptrend. Patience.
Nasdaq fails in 4h demand zone just above gap support and 150 SMA, overall trend direction most likely to be resumed. On weekly uptrend after breakout above 4600 hadn't failed in last couple of days, still long for longer-term trade. Trade the reaction of price - no predictions, just following.