AUDUSD turned bearish a couple of days ago and AUDJPY did the same a few days back. They both have "mis-colored" daily candlesticks today, and in my estimation, their intraday trends just switched form bullish to bearish. Of the two, AUDJPY is doing a better job of trending, so what if I sell it at 76.049 and ignore it for a day or so—or at least for a few hours? Will it give me a return of 10, 20 or perhaps even 30 pips or more, or will it start climbing again and stop me out for a loss? I'm curious to find out, so I think that's what I'll try.
Friday / August 21, 2020 / 4:50 AM PST From my "Mis-colored Daily Candlesticks" thread... Given that this is Friday, I won't necessarily be looking for any additional trades this week. I'll have to see what happens after the last bit of economic data begins to be released at 5:30 AM PST.
At the moment, this appears to me to be key. I am therefore switching from this thread to my Numerical Price Prediction Daily Analysis thread with this perspective to test it out.
That’s how everyone else will take it. The market can make you learn what you never thought of learning.
Monday / March 15, 2021 / 7:20 PM PST "I’m thinking that at this time, I might actually want to make a point of trading during news releases." This might be true now even more than it was back in August of 2020, the reason being that the tactic I began applying this morning to the purchase of Nadex binary options calls for waiting until price reaches specific levels designated in advance; and often times, the only way rates reach such levels is when forced to do so under the influence of fresh economic data. "I feel charts like the one below make it easy to tell in which direction rates are headed, and the lower panel oscillator greatly facilitates the decision-making process on where to enter positions and where to take profit, more-or-less buying when the oscillator spikes below the lower dotted line (or bold rosy brown line), and locking in gains at or above the upper band of the blue and crimson envelope." I'm now more inclined to enter positions in accordance with predesignated temporal/statistical support/resistance levels, set my take-profit target as much as 100 pips away, and then adjust my stop loss and take-profit target upon observing price action losing its momentum, whether that happens after advancing just a handful of pips, or several dozen. As a result, I regularly have 0.01-lot-sized trades that net, not just 51ȼ or $1.47, but $3 or $5, and on rare occasions, even as much as $16.00. As of today, I have increased my standard lot size to 0.02. (I hope to be trading full Lots by the end of this year.)