New TA/Charting, page-15676

Thanks Deluded, however there's no being right or wrong. The trade makes sense on the chart, wether it ends up winning or losing, the risk ratio and the odds are good, it's a trade. I'm a chart trader, I don't care about being right or wrong and I don't fall in love with stocks, which is the issue when you start reading into stories (what they call fundamentals). Too many people think the market and valuations are supposed to make sense. That would be true if participant were in the market to try and price things right, but if I learned something over my 15 years of full time trading, it is that participant are in the market to try and take each other's money. When sentiment is heavily tilted to one side, there is good opportunity for someone to make money by catching everyone else off guard. But, I disgress.

As for a commodity boom benefiting the whole nation, I do agree although I am unfortunately not from Australia myself but from the next country in Europe to get into a severe financial crisis. I have been buying some AUD lately though, as the chart also suggest we are close to a significant bottom against the USD, although there's room for a tad lower still. I really wish Australia the best, you guys have been so clever economically for the past decades, especially when compared to countries like mine. I just hope for you the wokeness and socialism seen in recent years will not take over as it is what ruined my own home.