With all the added pressure on the currency market due to corona virus, Bitcoin is set to sail.
I predict that most economies are going to tank a lot further yet also.
It is not wise to buy yet, wait for all the "dumb money" to buy, get wiped out by market makers, then buy.
See how easy it is to see stop losses, do you not think that big institutions can't see...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.
No point letting this trade turn into a looser now. Two lower highs created, so some structure to help create a logical place to move the stop too. Stop will be now at 1.46825. Worry free trade now, let the market go where it wants on this pair now.
Updates to follow.
Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that...
So you have the "perfect" setup; all the stars align and you feel utterly confident in taking the trade, but should you? I have a process that must be completed before I even think about pressing the trigger.
Fundamental analysis points me in one of two directions, then from there I'm either short or long. I then look if there is a technical entry point that...
Notice the 5 touches of previous resistance marked by the blue arrows. This "strong level" entices people to sell and place their stops just above the level. See how price begins to fall from this level marked at the red arrow? This also draws more sellers into the market; people don't want to miss out; then BOOM! Price breaks the level and wipes out everyone who...
As we can see the black area indicates a potential zone where retail traders are tricked into going long by the illusion of fake support. Large institutions and experienced traders know most novices will have their stop losses just below this level. Institutions and banks manipulate these levels and take out stop losses to gain liquidity in the market. Once a stop...
Since the start of this year silver prices have risen 10% versus the US dollar and 13% versus the Chinese yuan and the Indian rupee.
Despite the strong rise in silver prices, their overall performance has been rather disappointing.
Gold prices have considerably outperformed silver prices. As a result the gold/silver ratio has risen to new highs.