I exited my AUDUSD long position earlier today with small loss. The entry was too early. However, I am still looking to build long positions of AUD, NZD and CAD (by Short USDCAD). Let’s see how this strategy works out. Basically, my approach is to test the market, if it does not work out, I run, [...]
I start to buy some Aussie dollar and looking to buy Kiwi dollar soon. Oh well, you can say I am catching the falling knives. So what? What would be the worst case if I am wrong? Got stopped out, that’s it. What so tough about that?
Anyway, here is 4-hr chart of NZDUSD. [...]
I tweeted the news about CFTC is seeking public comment on proposed reduction of leverage to 10-to-1. In other words, 10:1 leverage would be the maximum amount allowed for all Forex traders in the U.S.
Since then, I have received few emails from retail brokers about their comments to this proposal. So far, Oanda, MB trading, [...]
AUDUSD has been smashed to the support zone I’ve mentioned yesterday. It is ugly. I am not happy, given the fact that my base is Australia..
Had a look at 4-hour chart, I would like to see some ‘touches’ on the support zone, and start buying some AUDUSD to test the support.
Let’s see. [...]
After testing the support line around 0.9170 area 3 times, we are now heading to the same area again. This time, I am looking at the break of support, and give me a target of 0.9120.
I am going in with a small short position to test this idea. Let’s see.
What do you think?
From the desk [...]
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