Fundamental Trading Always beats Technical Trading 100% - Page 4
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Thread: Fundamental Trading Always beats Technical Trading 100%

  1. #31
    Quote Originally Posted by ;
    quote Did you mean you'll be buying USD/CAD?
    Yes, I meant to buy! I have corrected it now

    UPDATE ON THE TRADES:With the AUDUSD and NZDUSD, they've met some resistance killing the downward momentum, however, the fundamentals are still present to keep my bias For my USDCAD extended (not short! Lol) News has come out that the US is not trying to re-negotiate or re-open the JCPOA That's going to have a bullish effect on oil and eventually the CAD, therefore I will be looking to liquidate this position

    I'm also aware that I need to work on getting better entrances which I'm working on

  2. #32
    Quote Originally Posted by ;
    quote Yes, I Supposed to buy! I have corrected it now UPDATE ON THE TRADES: With the AUDUSD and NZDUSD, they have met some resistance killing the downward momentum, however, the fundamentals are still existing to maintain my bias For my USDCAD extended (maybe short! Lol) News has come out that the US isn't seeking to re-negotiate or re-open the JCPOA that's going to have a bullish impact on oil and the CAD, so I will be seeking to liquidate this position picture I am also conscious that I need to work on getting better entrances which I am working...
    I made many pips last week trading USD/CAD through interest rate announcement and cpi, however I did not take advantage of the long-term swing trade due to focus on cable. USD/MXN is also currently generating many pips because of uncertainty and nafta. My attention was on cable but not anymore.

  3. #33
    Quote Originally Posted by ;
    So earlier on today I found an opportunity to go long GBP/NZD. NZD has become the weakest currency due to factors but bad CPI's being the main motive. There was NZD strength seen for no reason, but the currency has found its trend of weakness. Today, I did not plan to exchange but the NZD weakness has been too much to pass up with this weekends semester. Yields were impacting NZD/USD fairly heavily. The trade is current in profit but has been a choppy session picture
    Only closed this place for 40 pips. Looked to get 76 pips. It has been a really choppy even though pound is bullish vs all pairs (minus dollar) but the burden of the dollar on it's slowing pounds strength. Yields are giving dollar strength.

    Nzd and also eur would be the weakest currencies now minus mxn that has taken a beating due to nafta/ political doubt.

  4. #34
    Quote Originally Posted by ;
    quote Only closed this posiion to get 40 pips. Was looking to get 76 pips. It's been a true choppy even as pound is bullish versus pairs but the weight of the dollar at it's slowing it down. Eur and nzd are the weakest currencies today minus mxn. image
    Congrats about the trade, what was the reasoning to get a bullish GBP, I've seen the pair rise but Can't know why, Brexit discussions, Dovish Carney all scream bear to me

  5. #35
    Quote Originally Posted by ;
    quote Congrats about the trade, what was the reasoning for a bullish GBP, I've seen the pair rise but can not understand why, Brexit negotiations, Dovish Carney all scream bear to me
    Well some think we're still likely to get the increase next month as traders feel that the boe may blame the poor data due to the heavy snow viewed from the UK last month that effected labour and retail sales (negative readings).

  6. #36
    This morning I decided to exchange Risabank interest rate release. It was a dovish statement as SEK missed its CPI at keeping interest rates unchanged. This was a very volatile commerce that required patience since a lot of traders were trigger happy during the statement resulting in serious fluctuation in volatility however I waited minutes until the market digested the dovish statement

    As you can see it was a technical entrance that was purchased right on the daily pivot.

    Up next I will be trading the ECB interest rate launch at 12:45pm that will require due diligence because the language needs to be interpreted correctly. The market seem to be quite dovish as a result of poor information releases, commerce concerns etc

  7. #37
    I took a long on cable below the daily pivot since I received notice that Algo/Model buying was taking place in 1.39. Ever since then cable has taken of. I will hold this place with the stop loss near 1.39.

    1.38/9 is near where the pricing in took place for the BOE possible May rate hike so it seems traders have introduced their positions for profit and entered in 1.39.

  8. #38
    Quote Originally Posted by ;
    I took a long on cable below the daily rally since I received notice that Algo/Model buying was taking place in 1.39. Ever since then cable has obtained of. I shall hold this place with the stop loss close to 1.39. 1.38/9 is close to where the prices in took place for the BOE potential May rate increase so it appears traders have released their rankings for profit and entered in 1.39. picture
    Currently 40 pips in profit for cable

    I exchanged the article ecb meeting (that was uneventful) and moved predied on dollar softness that was a silly error and cost me now's profit. Nothing in the conference indied going long, but that I did it based on the dollar index being down along with currencies doing well vs the dollar. I normally go in rather heavy on ecb afternoon but today's material preview and weak minutes announcement left me more booked so that I take a positive out of how I managed that the risk

  9. #39
    Quote Originally Posted by ;
    quote Currently 40 pips in profit for cable I exchanged the post ecb assembly (which was uneventful) and went predied on dollar softness which was a silly mistake and cost me half today's profit. Nothing from the conference indied going long, but I did it based on the dollar index being down along with currencies doing well vs the dollar. I normally go in quite heavy on ecb day but today's cloth trailer and weak minutes statement left me booked therefore I take a positive from how I managed that the risk
    I shorted eur/USD post ecb convention after we broke the daily low. I'd gone before thinking the dollar could take a beating today but It slipped my mind that we had opions expiring also of this back Draghis poor summit (market wanted more from him hence the sell off)

    I was able to tote 30 pips which covered the loss for the former eur/USD commerce making today entirely profitable.

    Overall been a great trading week so far

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