On the Pound Aussie we have a 222 pattern, and right now im waiting for the AMP RSI and HSI to trigger a signal which might Happen here in 7 minutes.
Now, on to the fundamentals...
the 5 year Pound Bond Yields looks like its wanting to form a double bottom which could attract more investors into the pound if it does actually bring value to the pound. I chose the 5 year bonds as short term investors might look to get in and out and this pattern is on the 1H timeframe. The 5 year Aussie Bonds Yields are in the process of trying to make a Bat Pattern and still has a way to go. and when this happens i can see investors flooding into the Aussie.
Now the COT data is interesting both currencies are being driven by the Commercials and both pairs are stepping close to the Zero Line. However, the Pound did have more Favor of selling pressure being relieved. With nearly 18,000 orders of relief. we had 10,000 orders of shorts get taken off the table by the Non-Coms Short for profit taking and we also had 8,000 orders of commercials delievering on their contracts. Now, this pattern might not work out, but the educated guess here out weighs just having technical analysis only. im not looking to take this trade to the moon, but i am looking to capture some pips on the correction before the pound makes another run down.
Now, on to the fundamentals...
the 5 year Pound Bond Yields looks like its wanting to form a double bottom which could attract more investors into the pound if it does actually bring value to the pound. I chose the 5 year bonds as short term investors might look to get in and out and this pattern is on the 1H timeframe. The 5 year Aussie Bonds Yields are in the process of trying to make a Bat Pattern and still has a way to go. and when this happens i can see investors flooding into the Aussie.
Now the COT data is interesting both currencies are being driven by the Commercials and both pairs are stepping close to the Zero Line. However, the Pound did have more Favor of selling pressure being relieved. With nearly 18,000 orders of relief. we had 10,000 orders of shorts get taken off the table by the Non-Coms Short for profit taking and we also had 8,000 orders of commercials delievering on their contracts. Now, this pattern might not work out, but the educated guess here out weighs just having technical analysis only. im not looking to take this trade to the moon, but i am looking to capture some pips on the correction before the pound makes another run down.
Trade active
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.