Dislikedshort @ 0.8420. another short is eagerly waiting @ 0.8486, although it might not be necessary.
i just hope this doesn't turn into another u-cad, but this time going up.Ignored
May i ask why you believe this? Specifically @ 0.8486?
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DislikedI seldom get good retracements off the auds, not sure if it's the low volatility or if they are just trendy bastards. But they rank #2 for the currency I'm most often wrong with, when trying retracments.Ignored
Dislikedare you using vegas for h4? you should give it a try.
or just plot a 55 SMA on your h4 chart, with levels at 21, 34, 55, 89, 144, 233... sounds familiar?Ignored
DislikedNo i'm not using vegas, i've had a look before but it didn't tickle my fancy.
I can understand where you're coming from though, thanks.Ignored
Dislikedok... i'm using an average based on a non-linear regression (parabolic, most of the times) and when price is at 2 standard deviations away from this average, i open a trade. usually it's right on one of those vegas levels (or very close).
you can use daily fibs as well. in this case, 0.8449 is another choice i'm thinking about.Ignored
DislikedYea i remember slightly, like channels around the price and you line up signals based on the price touching the channel border and lining up with a Fib line say?
I suppose this is looking for short term trades with profits taken intraday?Ignored
Dislikedsomething like that, right.
and depends on what you mean by short term, i use h4 charts and sometimes keep my trades for a couple of days.Ignored
DislikedYep no worries, i suppose i'm looking at what the AUD is going to do on a longer time frame, and you're looking at what its going to do intraday, retracements, dips and so forth.
So originally i thought you were picking the absolute top and i wondered why that price..
Thanks for the quick responsesIgnored
Dislikedshort @ 0.8420. another short is eagerly waiting @ 0.8486, although it might not be necessary.
i just hope this doesn't turn into another u-cad, but this time going up.Ignored