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Hello fellow traders.
Its been a while since i have not participated in trader contest ,and actually it passed some months since i have not participated in any contests including my favourite one tehnical analysis.I finished collage and was a little busy with all the exams but now i am back.
From what it seem i didn t missed much . Only August become a very interesting month in terms of volatility and this Scotland independence situation has helped spice the volatility a little bit in what was a ,,quiet market,, for most of this year.
That beeing said let s get to business. In this pause time from contest i traded my live account. I made quite some good turnovers on gold and cross pairs mostly. GBP/CAD & GBP/AUD were the best since they move over 500 & 800 pips respectivly only in the last week .
After the extended bullish rally of last week in both pairs i personally expect a large retracement and who knows ,maybe a reversal after the outcome of pols.Since GBP/AUD was most volatile moving 800 pips in a week i decided to short the pound versus the aussie since i think it will most benefit me and the probability for a consistent profit in a shorter period are higher on this pair. The RSI itself as can be seen from the chart above is at pretty high levels .As i am writing this article my 5 Mil pending order got filled at 1.7975 and it seems to be moving somewhere
) .This might be an interesting trade if it pays off.
Cheers guys
Wish you all get some green pips as a result of all this volatility.
Metal_Mind.
Its been a while since i have not participated in trader contest ,and actually it passed some months since i have not participated in any contests including my favourite one tehnical analysis.I finished collage and was a little busy with all the exams but now i am back.
From what it seem i didn t missed much . Only August become a very interesting month in terms of volatility and this Scotland independence situation has helped spice the volatility a little bit in what was a ,,quiet market,, for most of this year.
That beeing said let s get to business. In this pause time from contest i traded my live account. I made quite some good turnovers on gold and cross pairs mostly. GBP/CAD & GBP/AUD were the best since they move over 500 & 800 pips respectivly only in the last week .
After the extended bullish rally of last week in both pairs i personally expect a large retracement and who knows ,maybe a reversal after the outcome of pols.Since GBP/AUD was most volatile moving 800 pips in a week i decided to short the pound versus the aussie since i think it will most benefit me and the probability for a consistent profit in a shorter period are higher on this pair. The RSI itself as can be seen from the chart above is at pretty high levels .As i am writing this article my 5 Mil pending order got filled at 1.7975 and it seems to be moving somewhere
) .This might be an interesting trade if it pays off.Cheers guys
Wish you all get some green pips as a result of all this volatility.
Metal_Mind.
