Have you considered AUD/JPY? It's been trading in slightly better defined channel, and if USD/JPY and AUD/USD break down it will as well but likely with a greater move. The same is true of NZD/JPY, but with a trading ratio of approximately 0.65 ...

Davit's Confluence Trading

I'm favouring a Friday risk sell-off scenario to develop once the European market opens -- basically short xxx/USD and long USD/xxx pairs. Of course I'll have to wait and see what happens as everything is just moving sideways at the moment. I'm also ...

Davit's Confluence Trading

Did you try Googling the link or the file name? If Google's spider indexed the page it was posted on you'd be able to find it and possibly identify the poster.

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

The Chance Card for USD/JPY short read: "Return to Go and do not collect $200". Maybe I should have placed the stop at 80.350 and left it to see what happens as it looks like it's running out of steam, but once a trade retraces through the 61.8% ...

Davit's Confluence Trading

I see it, but I'm not quite ready to believe it. I hope I'm not just stubbornly sticking to my analysis, but I'm still holding onto my short. I almost pulled the trigger when we touched $1700 twice yesterday ...and honestly I wish I had rode it long ...

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

RSI example — I haven't come across any great examples, but the hourly US dollar index demonstrates the basic idea. image Red lines indicate bull movement, and blue indicate bear movement. Draw a trend-line connecting valleys for bull trends ...

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

All the DailyFX analysts are with us for shorting GBP/USD, but I'm going against all of them by also shorting USD/JPY and NZD/USD. By having USD on both sides of these trades I'm really trading JPY strength and NZD weakness (really, oversold and ...

Davit's Confluence Trading

I've got 5 minute charts open (always have 9 of them on one of my monitors) and except for Euro pairs and USD/JPY, Forex has stalled out since 6am. US data and North American open failed to cause a stir so big money must be waiting for something ...

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

GBP/USD is clinging to the trendline and neither good GBP data last night nor good USD data this morning can shake it loose. Though it was nice of it to wait for me to finish my nap, that smells like big money waiting for a non-calendar surprise ...

Davit's Confluence Trading

Well, yes, but looking at it that way there are dozens of potential reversal points for everything, which, true enough, there are as no price action travels in a straight line; but I look for multiple congruences to indicate the key levels that ...

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

Here's a link to the DailyFX Live Trading Room. url It's not 24 hours but there's usually a live analyst going over his positions and taking questions during key economic events and when markets open. Not all of them are good -- make note of the ...

Davit's Confluence Trading

Not one of your usual trades, but GBP/USD was repelled right at the resistance line of the bear channel it's been in since mid September despite strong data. If it's a genuine reversal (stop just above my entry point at 1.6138) it could turn out to ...

Davit's Confluence Trading

A price alert woke me up but I'm going back to bed. I agree with XTrade that another $25 downside probably isn't worth it, but I'll wait and see where things stand after the North American markets open before I abandon my short. I don't think I'll ...

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

Rod David's analyses aren't very insightful, but it's a short read: url

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

I didn't follow the press conference, but Carney clearly said something because the Loonie fell sharply shortly after it began.

Davit's Confluence Trading

I think I should have stayed in bed. First AUD and NZD started heading up off bad Euro data. EUR/USD never hits 1.29 and reverses despite 9 negative data points, GBP/USD broke above 1.6 despite negative data at 6am. ...these all indicate USD ...

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

When I come across a good example I'll post a screenshot (after I get caught up on things). Basically, you draw support or resistance lines just as you would with price action, and when the line is broken you have confirmation of a change of trend. ...

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

USD/CAD hit the resistance line of the bull trending channel it's in on the daily chart which should send it down, but oil is heading down which should send it up, thus I think it's going to trade sideways until it hits the channel support line and ...

Davit's Confluence Trading

I used to think RSI were only useful for indicating overbought/oversold if above/below 70/30 before learning it's actually more useful when it breaks trend lines, particularly within 40-60 range. The only thing I know about stochastics are what I ...

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