Im saying, if you are trading GBPJPY on, say, the 15 minute candles, you better have an opinion on a level on GBPUSD that coincides with an opinion on a level on USDJPY, or a very liberally placed stop. More people are trading those two majors than are looking at levels on GBPJPY, and they drive the price more than anything. Its a bit of my bias from my trading style, but I feel trading short term technicals on odd crosses requires a large degree of faith.
Agree, I usually average Gbp/Jpy with small positions and larger targets than I normally would, when it drops it's timberrrrrrrrr! In fact I'm averaging every trade pretty much, the rule book goes out the window when it's like this Astonishing times and astonishing moves.....where will it end? So is anyone actually trading Eur/Aud right now? Care to share your analysis?
Are you crazy? There is no way to trade this thing right now (leveraged). Unless you trade without a stop.
Of course, it's mandatory for forex traders! This Eur/Aud though, BlackBison told us "i just scalped the bounce off 2.00 easiest trade of my life".....and looking at a weekly chart there's a nice 1.55-1.75 range from about August 2003 and then a breakout when it takes off to the moon Alice, wouldn't that have been tradeable for you long-term guys?
Hello, I just registered here because I wanted to exchange some opinion with you on EUR/AUD cross. I dunno where you're from but I live in Italy so I'm massively speculating on a AUD revaluation. That said, let's go with the tech analysis part.
As you can see there isn't so much more room anymore on the oscillators for a steady long term uptrend on these levels. This was just a huge speculation movement and my tp is 1.70 in the long run (id est EMA 20, the middle of bollinger bands on the monthly time frame). Plus in the weekly time frame there's a bearish divergence on the stochastic too. I'm basing my thoughts on the fact that it might be easy to "cheat" on a daily time frame, but it isn't so easy on a weekly or a monthly one.