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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thanks for your view... i can see your stance.....
for me... it has a good chance of climbing higher above 4282 high as long as 3428 holds... maybe to 4350/4400 level...but that wouldn't mean it has resumed uptrend in the bigger picture yet.... a weekly close above 4500 level could open up more upside to challenge 5144 main resistance and if broken would signal resumption of uptrend and new highs...
to the downside... need a break below 3428 level to confirm fallback below 2873 level and challenge 2587 main support... a break of 2587 would mean resumption of downtrend and would see drop below 1876 level...
CAT....
you are sick.... please grow up and stop your nonsense...
Not everyone is like who can have a misunderstanding of the basic dynamics of the forex market, be consistently consistently incorrect on your calls with respect to a currency pair, and not lose money because you are always perfectly hedged without any cost...or...
You use historical data. You apply your system to the past and see what the results would have been.
Once you really engage in attempts to develop - and back test - a system, you will see that one needs to identify/consider the matters such as the extent of the edge in trade execution, the maximization of winning positions and minimization of bad ones, extent of capital draw down tolerance, etc. You should also have an idea of what return you can expect from the system and over what time frame. A system where you can confidently expect a 7% return on capital per year over 5 or 10 years would be an outstanding one and you would be league with the some of best traders/hedge funds in the world.
A candle flares up before going out
Good Luck Out There
My view remains largely unchanged from about three months ago. At that time I opined that we were at a cross roads where either the euro would push down or we would see a more complex retracement. I believe what we have seen since is the latter, i.e. continuation of the retracement. My best guess now is some further upside for the pair. I wouldn't be surprised to see 1.41 by Tuesday or Wednesday. I am ultimately looking for an opportunity to open a short position, however.