Ivan's Trade Thread, part II

There's very stiff resistance and supply at .7010 for Aussie, which will affect the EUR/AUD as well.

The EUR upmove is moving into the realm of supremely irrational, but it could continue for quite a while. The Aussie has no such buyers lined up at the moment, and no cross support save AUD/NZD at 1.18 which people are pushing for.

I agree, though, that when the EUR finally comes back to reality, the correction will be swift and sharp.
 
I have to sit on my hands cause I like to fade moves or atleast I did in the futures but see its not the best strategy here in FX. Seems like when a direction picks up steam it goes!
 
Somewhat newbie question, I dont trade the usd/cad to often but why doesnt it follow the other dollar based pairs as much, does it have to do with oil?
 
Very low liquidity and mainly order driven.

What we're witnessing now is a complete lack of liquidity in any market. It's a dollar rout by speculators in the EUR/USD.
 
Quote from rsikit:

Thanks for the insight Ivan.
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Not a worry. Be safe. These are markets where you either make a ton of money or lose everything. There's no middle ground.
 
Yeah I am trying real hard with my patience and picking my spots. I use gft for my real account, but I got a micro account at fxcm to get the scalping itch out of my system when I am waiting for a setup:) But I am being real careful and still learning the quality setups.
 
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