BIG CALL - get rich trade
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I dont know what kind of imbalance is out there to trigger this large move but suspects are banks, manipulating market, selling resources, oil, gold, buying each other playing gods, or something like that. Now this is coming to an end and one has to buy back what is sold without cover.
1 man financial fantasy
global banks have tanked further this week, some serious TL broken across many banks. XLF is the etf to use for shorting.
See if another stimulus will be sprayed, or my canary in the mine - CBA.AX - will be allowed below 70.00.
theory that banks are short gold, oil etc and now must cover makes more and more sense. OIL crossed 50 this week and closed 3 days above 50, suggest that 50 resistance will not hold.
See if another stimulus will be sprayed, or my canary in the mine - CBA.AX - will be allowed below 70.00.
theory that banks are short gold, oil etc and now must cover makes more and more sense. OIL crossed 50 this week and closed 3 days above 50, suggest that 50 resistance will not hold.
looks like market heard you
now 7867. i mostly catch knives. And know these zigzag patterns around round numbers can drive you crazy if you try to read too much into them. So i am just ignoring itlooks like market heard you
Am also looking to sell AUDUSD around 7490/41. pending pa at that level.
CL looking at 50.18/90 area to enter short.
Presently short DOW/YM @ 17878.00
today price action contributed to brexit. i do not believe this is correct. banks are real issue here. Technical setup is very dangerous for swing loooower for banks.
Can banks dig out of this hole ? Something is saying to me that not this time. Gold going up on their misery, unexplained, dont think this will go away like bad dream and will be around long time.
Can banks dig out of this hole ? Something is saying to me that not this time. Gold going up on their misery, unexplained, dont think this will go away like bad dream and will be around long time.
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30 pips is too small stop size. make it 4 x larger or more.
I have been stopped out numerous times from real excellent trades due to too small stops. Most notably when selling audusd at 1.0234 in last drop. Nearly straight line down to 0.90 or so. Had 12 pip stop 2 contracts, planned to build large position, and price moved EXACTLY to my stop level and then turned down for good. That is not random ! And in the same move, price escaped again just as i was prepared to enter. And 3rd time as well. All same audusd sell signal. Once price 200 pips from your signal, it is too hard to enter.
However was saved last trade actually in audjpy as part of this large signal 200 pip stop, missed for 30, and made 150.
Depends. My risk is well defined and i don't mind taking 20/30 pip stop outs on high % entries, Because its easier to hit a 100 pip target, so my whole trade/money management is in tact. Where as if you are using 100 plus pip stops the your targets need to be larger 3*. If you get stopped on 100 to 200 pip stops and not hitting 300 to 600 pip plus trades then its only a matter of time. Or you need a huge account to cater for than drawdown.
The other thing I went long 1hr chart at 7762 with atr 7 pips ,a 20 pip stop and was out 50% for 51 =78.112 Holding 50% at stop 78.32 . Almost 100 pips profit =r/r 1:5 , and actually at stop its 4r. You can do these trades if you are either buying or selling the macro support or resistance on extension. You wouldn't do it in the middle of those two.
"Most notably when selling audusd at 1.0234 in last drop" That trade needed 130 pip stop because of where you entered at the support zone.. Even the ATR was around 80, being aware of that. Go 1.5 to 2 ATR.
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