EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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The reasons I went long is
1-The GBP/YEN had 10 trading days of consecutive loss, I checked this currency pair performance in the last 10 years and I found the GBP/Yen had 9 days of consecutive loss only once in the last 10 years which is in August 2008 when leman was filling for bankruptcy . so I thought it is highly in unlikely ((probability)) to have 11 days in the row.
2- I looked at the 15 minute chart and I notice Cup formation ((bullish))., and there is a defined stop loss below trend line which was tested 3 times before .
3- And the most important factor is the stop loss is tight and the potential profit is large. i.e Risk to Reward
You didnt understand my point,, I was not giving projection about the price of the AUD/USD.
I was trying to tell you there is no grantee that there will be a pull back to par yet alone to 0.97. The market could keep going gradually and steadily to 1.5 over the next two years. Who knows? No body.
Many quantitative traders try to predict the market using theories such as use martingale hypothesis or Random walk theory by find correlation between price movements. or use Extreme value method all these methods have chance of success as picking (( buy or sell out of hat)) .
You as trader should manage your account and try to make more profit than losses. Otherwise it much betters to but your money in riskless utility such as saving account at least you will have good night sleep.
@ chlo ((I am sure you had few sleepless nights in the last 2 weeks , and you blame Ashraf of this if only he wrote that the three weeks ago that AUD is heading towards 1.02 instead of 0.97 you will if had a very merry Christmas and super happy new year. IF ONLY))
but my best trade is long CAD/YEN with target 88.20 then 90 and stop loss at 86
Dima
Euro/GBP has been in 250 pip range since early November as you see the channel is getting narrower, a break down side this channel will take the GBP/USD 1.68 a break above this channel than 1.57