Glad that things work out for you and you are able to escape unhurt. Your returns are pretty impressive for a newbie. IMO, due to the huge bearish movement yesterday, any longs (not scalping) below 93 is dangerous. Below 93, we are still in bears ...

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image H4 tells the same story.

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image Price fell thru critical support at .93 . Lets see if price can retest .93 level and continue downwards or break back above that level. We will see. With the huge bearish movement earlier today, not sure if this support level can be retaken ...

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OMG, what happened? Are you long or short. You should be happy if you are short. The bearish movement earlier on doesn't goes well with the bulls.

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image My post yesterday seems to be playing out. Today earlier rejection could be perhaps another indication.

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Yes, I always try to work with clean charts. A few moving averages and most importantly support and resistance levels. Sometimes with pivots.

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image I would think we might have hit resistance. Market is stalling as more direction is needed.

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Sleepy price action. zzzz 1325 seems to be resisted.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

If it forms a head and shoulder in H4 and fell thru 93.50, then it is no longer a correction.

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AUDUSD is falling down, Chinese data leak? I won't be surprised.

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See my post yesterday. Hope it helps. url

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.9305-10 is a strong resistance and was broken today. Therefore most of bears stops are slightly above this level are taken out, which might have caused the spike up. Just my opinion.

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Stop hunts by fishermen to net up all the stops, critical level .93 was broken decisively. Plus of course USD weakness across the board too.

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Interesting, thank you. Lets see if the resistance will be broken on that day.

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Thank you. But why do you think resistance will be broken on that date. Just curious.

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image We are at a crossroad now. Either we retest lower level or break resistance.

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Pardon me. Why 10 Apr?

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From your posts, you are shorting right?

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Terrible retail sales number, decreasing Chinese non-manufacturing PMI. What does that tell you? RBA Gov speaking later, will provide more clues.

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Yes, you are right. There are no reason to sell either, although I am slightly incline to the dovish side. I will be waiting for the market to give me the direction. Any break below .92 will be sell, any break above .9315 will be buy.

AUD/USD