It looks good.... might even go far... but it is not an A1 for me so I have to pass... cause if I do not and start accepting my second signals then %'s will go down... I stick to my rules
OMG, so it is true that human traders consider round numbers as support/resistance level. Exactly that's what I am working on with my research at the moment . But you don't have to worry too much about round number effect during openings cos when market is highly liquid, round number effect disappears only when market becomes illiquid, it exhibits round number effect.
well, yes and no. Not trading now. Was getting good then broke up with girlfriend who was backing me. I've been watching the markets since after college in 86. Blown out a couple times. Spent 15 years learning from a guy who had a really different way of looking at things, which I still use. He traded but was more of an investor in a way. His material was better than his trading. I'm going to get this or die trying.
There's more but it'll come out when the context is right. Jim's work was about demand, and I still look at the markets from that perspective. Is there a strong force driving this particular thing we are trading? What is it based on? Who's in control right now? I tend to look at what's in play now, and the other markets reaction to it. I like to see how something reacts to news if it's significant enough. I believe in trends, which doesn't seem that meaningful until you meet someone who is a trend deny-er. I love the intellectual aspect of trading, trying to figure out how it all fits together. OK enough from me. Haha
It appears AUDNZD are approaching somewhat strong resistance now On 30 min chart - it has touched On 1 Hour - approaching and nearly there (1.08300)... but at next hour, the resistance might become more bullish and if that happens it will go up more otherwise prices will fall. so wait and see. There is no trend with EURO & GBP at the moment, but something might happen in the next 20 minutes cos London opening has only 1 H and 20 minutes.