USD index

Yeah back at it. And likewise. Had a solid week. Gave back some at the end, but that was because I was over committed. Had the direction basically right but couldn't hold on with the risk.
 
victorycountry said:
Yesterday, most of currency pairs as well as futures (e.g. gold, oil, even indexes) if not all, went through non-dominant trends (correction) so I did not even bother trading.

I just don't know how to use contrarian strategy (market' makers correction strategy) yet.
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Very wise without a solid game plan and a decent handle on order flow your going to struggle big time.
You don't want to be chasing price around.
 
Piptaker said:
Very wise without a solid game plan and a decent handle on order flow your going to struggle big time.
You don't want to be chasing price around.
More...

It's just that this correction involves higher risk (because this correction often has no reversing trend ) but produces lower return. I teach that this kind of trading/investment is not optimal at Uni. So I hesitate to trade on non-dominat trend...
 
Man I don't see anything nor really want to for that matter. Despite the run-up in dollar. Would love to short USD/Jpy but it's too risky. That's ok. There will be trades later.
 
Piptaker said:
well weekend news gapped Eur/usd and gold down,and gold bounced off my 1295 again but missed it .....
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This EURUSD ... is going through the correction. It's dominant trend last week was uptrend so the current correction (non-dominant trend) is down.
Gold is likewise.
Both non-dominant trend is carried over from Friday.

Unlike EURUSD, USDJPY had a dominant (bear) trend last week and the upgap appears to be the correction and the correction is carried over from last Friday.

Something might happen to Aussie today or this week. It looks like the correction appears to be nearly finished or has finished.

Kiwi could depreciate as it looks it's about to enter the correction.

USDCHF is in correction...
GBPUSD is in correction ...

A boring Monday is expected...

But guys, you can still do some trading. Make sure you use limited orders rather than market orders in case price don't go in the expected direction since most of them are going through correction
 
It is a boring Monday. Patience, patience, patience. Aud looks like someone is standing on the brake and accelerator at the same time. No trades.
 
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