AUDJPY big downtrend. High Reward/Risk [Intermediate Advanced].
Beginner too if you are able to use small size, a stop loss, and understand how this works, the idea behind it.
False breakout of the MA50 and if it goes a little higher possible SFP.
What is looking like a complete impulse wave has not been able to do better than retracing the ABC down.
There is some short term spiking, I think it is because of slightly improved unemployement data (AUS) and money printing because the economy is doing great and also China poor gdp.
Media is saying "big capital shift". Easy counter indicator. This is just short term, to reverse (and go back to the multi year downtrend) very soon.
60 to 80% of traders on non prime brokers are long, possibly soon to be trapped bulls.
Doesn't say where stops are thought.
(Self reminder to set clean links to info sources & COT etc, getting boring to have to search everytime)
(Also self reminder to note sentiment)
False breakout of the MA50 and if it goes a little higher possible SFP.
What is looking like a complete impulse wave has not been able to do better than retracing the ABC down.
There is some short term spiking, I think it is because of slightly improved unemployement data (AUS) and money printing because the economy is doing great and also China poor gdp.
Media is saying "big capital shift". Easy counter indicator. This is just short term, to reverse (and go back to the multi year downtrend) very soon.
60 to 80% of traders on non prime brokers are long, possibly soon to be trapped bulls.
Doesn't say where stops are thought.
(Self reminder to set clean links to info sources & COT etc, getting boring to have to search everytime)
(Also self reminder to note sentiment)
Trade active:
Short.
If I get rekt I'll wait for a retest of 76.
If I get rekt I'll wait for a retest of 76.