Thanks Taz.

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Maybe it will .... or maybe the report will send GBP falling again, who knows. The recent trend has definitely been toward downgrades in the BOE's inflation forecasts .... so long as your TP is further away than your S/L so you either lose a little ...

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I've taken the same trade .... Stop loss also at .7405 but my take profit is .7000. AUD/USD looks good right now on the daily, it looks ready to take off again ...

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Hi KoiFish Yeah I've definitely stopped looking for any short USD positions after Dudley's comments about rate hikes. EUR/CAD and GBP/CAD have both pulled back on the daily, and both 4H charts are showing a bunch of inside bars so I have short ...

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Hi jpch I have some rules for trends, but there is some discretion involved too. To me a trend isn't just technical, it's also fundamental. On longer term TFs like the weekly, I kind of see them as the same thing - a technical trend is nothing ...

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RBA cut rates to record low this week and threatens to cut again if inflation doesn't start picking up. The cut was a surprise, predicted by only 12 of 27 economists surveyed "RBA remains on hold and are prepared to ease further if necessary" - J ...

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William Dudley just said that two rate hikes from the fed this year is still a reasonable expectation ..... I don't take much notice when hawks talk about rate hikes or when doves talk about cuts. But when one of the feds most dovish members comes ...

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Corn. Weekly chart has broken above its moving averages, as large speculators accumulate: image image Daily chart shows a nice pullback to the trendline, also a recently significant S/R level, but COT hasn't indicated that the fundamentals may ...

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Crude Oil has found some consistent strength recently. Large Speculative positions are still net long and don't look to be selling off: image I'm not looking for long positions yet though, since the weekly WTI chart isn't showing an uptrend. ...

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Some hawkish tones starting to come from USA again ...... Futures markets are pricing in a 60% chance of at least one rate hike by December: image The chatter has become decidedly less dovish in the last few weeks: "Heightened global risks and the ...

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I wouldn't call them fools either. I follow all the major central banks closely, I have done so for several years, and I would consider Glenn Stevens to be the sharpest pencil in that drawer. Historically Australia has had a larger and more varied, ...

AUDNZD

Right .... having no T/P at all, and just trailing your stops for as long as you can is also something I tried for a long time. It means you give back some profit at the end of every trade, but it also means you are a chance of catching the big, big ...

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My thoughts on support and resistance, since I may seem inconsistent on the subject. If I am trading a commodity - eg copper, wheat, platinum etc ..... I take great notice of horizontal support/resistance levels and big round numbers such as 1.500 ...

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Hi Koi. Exiting trades is the most subjective part of my trading ..... I usually go back to the daily chart and target a level where the current move may start to look exhausted, or get out before price hits a major S/R level. On the copper trade my ...

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Copper again. Weekly chart still shows a downtrend. COT shows large speculators short and still selling: image image Daily chart shows a pullback .... to around 2.25, a significant round number which price has respected several times in the ...

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Hi I get the COT charts from here: url The charts only give basic direction though .... they don't show depth of market or volumes. You can find the raw data here: url

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Hi vratnica In the case of the EUR/GBP trade, I had an order in to enter long if price broke out of its range to the upside. As soon as it broke out to the downside I cancelled the order. When that happens I never keep chasing the trade, I go back ...

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Hi kaboemm, I'm hoping this thread will kind of evolve to include an ongoing discussion of the basic fundamentals, so people who contribute here regularly will always have a handle on where each central bank is at and what it is likely to do next. ...

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Hi Dash, thanks for the kind words. I think you are right, there are a handful of strategies which are carefully designed and will make profit if traded properly .... but most will drop out and switch to a different system as soon as the strategy ...

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Smikester just posted this over in the DIBS thread, it quite nicely describes the breakouts I try to catch on the 4H charts: I try to enter the market when price "flies off in the direction of the main trend", but only when the fundamental reason ...

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