GBP/AUD LIQUIDITY FILL -ARE WE READY TO SEE 1.8000?
Updated
It appears that once again the price was dumped into the psychological level: 1.7650 (in the midst of large fundamental talks) before price rallied 250 PIPS to the upside & potentially wiping out many traders short profits on the day.
What happened here? Why is this a common theme in the foreign exchange markets? Why is it that so many people lose?
Does this style of playing on the emotions and psychology of the masses in effect make the larger institutions money? or is it all a FAD? - Who knows? Maybe we need to open our eyes a little more.
Anyway, the price action is as clear as can be and for as long as the pair trades above 1.7750 (weekly SUPP) then I expect buyers to step in, price to rise and some temporary faith to be restored in the hearts of those giving up the most energy to let their 'voices be heard' throughout the Brexit talks, votes and whatever other manipulation of the masses is occurring in the here and now.
I always remain chart focused with a 10% outlook over fundamentals. After today I would be very surprised if GBP/AUD sinks into new weekly lows! We have a barrier at 1.7875 that we need to take out, a minor intraday dip may well form to around 1.7800-1.7820 then price may start to accelerate as many stops will be lurking just above 1.7925.
What happened here? Why is this a common theme in the foreign exchange markets? Why is it that so many people lose?
Does this style of playing on the emotions and psychology of the masses in effect make the larger institutions money? or is it all a FAD? - Who knows? Maybe we need to open our eyes a little more.
Anyway, the price action is as clear as can be and for as long as the pair trades above 1.7750 (weekly SUPP) then I expect buyers to step in, price to rise and some temporary faith to be restored in the hearts of those giving up the most energy to let their 'voices be heard' throughout the Brexit talks, votes and whatever other manipulation of the masses is occurring in the here and now.
I always remain chart focused with a 10% outlook over fundamentals. After today I would be very surprised if GBP/AUD sinks into new weekly lows! We have a barrier at 1.7875 that we need to take out, a minor intraday dip may well form to around 1.7800-1.7820 then price may start to accelerate as many stops will be lurking just above 1.7925.
Trade closed: target reached
Closed at 1.8000 Precisely ! That's 115 PIPS for this pair!!
Putting me at +500 pips this week and its only Tuesday so far <3
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Totaly Smashed it !!
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