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-   -   AUD/USD (https://www.forexfactory.com/showthread.php?t=95260)

PaulDaemon Nov 9, 2016 5:54am | Post# 99501

If you guys think you can predict how pairs are going to react based on news and different event that happen in the world then you're going to continue to lose money. Stop trying to trade fundamentals and use the information that we have as retail traders, which is a chart with data plotted on it. Learn how to trade technically. Learn how to read a chart. I predicted this pattern to complete like this not because of a presidential election, not because of what Russia or China are doing. But because I study wave patterns. The market obviously moves...
In a way its true, The charts are a pictorial representation on how the participants see and react to the market, and Technical analysis in a way can foretell future price moment. However Fundamentals is what drives the markets but often it has a lagging effect and the movement has occurred before a trader can get in.

Jfrancis Nov 9, 2016 6:03am | Post# 99502

{quote} In a way its true, The charts are a pictorial representation on how the participants see and react to the market, and Technical analysis in a way can foretell future price moment. However Fundamentals is what drives the markets but often it has a lagging effect and the movement has occurred before a trader can get in.
Fundamentals may drive the market. But you dont know the fundamentals. No here does is my point. Trade the chart. Not your view on the economy because frankly its useless. I mean unless your a goldman sachs analysis or something

Jfrancis Nov 9, 2016 6:09am | Post# 99503

2 Attachment(s)
I'll give another example if I may on technical analysis.

Here I predicted a correction and a move up after the pattern is completed. Now as Ive mention before. I dont know how big or small the correction will be. I just now what to look for and how to identify corrective structures.

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ell3 Nov 9, 2016 7:05am | Post# 99504

I'll give another example if I may on technical analysis. Here I predicted a correction and a move up after the pattern is completed. Now as Ive mention before. I dont know how big or small the correction will be. I just now what to look for and how to identify corrective structures. {image} {image}
To each his own, my Friend. What works for you may not necessarily work for others.

wrightm403 Nov 9, 2016 7:17am | Post# 99505

I feel JFrancis is largely correct. My best trades have been where l have identified a trend on a chart and traded purely on that, completely ignoring any news whatsoever.

Jfrancis Nov 9, 2016 9:20am | Post# 99506

{quote} To each his own, my Friend. What works for you may not necessarily work for others.

This is my example of what strategy I use. There are many other strategies that work of course . Trading fundamentals at a retail level is not one of them.

hongyun Nov 9, 2016 9:59am | Post# 99507

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Today market is exactly the same as brexit. How's your trade record today ? great ?

A question, how could I interpret the screenshot below ?

Left side : Europe currencies
Right side : Asia currencies

Same day, same time but act in opposite way....hope someone can help me to interpret it.
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Fhillip Nov 9, 2016 11:00am | Post# 99508

I'll give another example if I may on technical analysis. Here I predicted a correction and a move up after the pattern is completed. Now as Ive mention before. I dont know how big or small the correction will be. I just now what to look for and how to identify corrective structures. {image} {image}
Charts, pattern, candlestick, all these technical data is good, I personally trade my way 90% with technical chart. That's how I trade.. Personally.

News can affected, but all these time I'm not looking much at news.

I think every trader have their own trading method, and I respect that.

I respect member in these forum who regularly update us with his point of view and analysis regarding news... It helped me and as a reminder and review, so I can link it to my technical analysis.

In both ways, it's good.

I respect everyone here.

Have a good trade, traders.

ell3 Nov 9, 2016 11:48am | Post# 99509

{quote} This is my example of what strategy I use. There are many other strategies that work of course . Trading fundamentals at a retail level is not one of them.
well, i use a combination of technicals and fundamentals. wave analysis may work but it isn't for me anyway, a little too speculative and inconclusive for me to have any confidence i feel.

ell3 Nov 9, 2016 11:55am | Post# 99510

btw, does anyone else here trade with CMC Markets? they were down for around 20 minutes earlier. i discovered the problem while i was trying to close a long scalp on the E/U at breakeven that i could see wasn't going to work out. i couldn't close it, and long story cut short, lost 9 pips needlessly. if my access to the market wasn't interrupted, i would have eventually taken my target profit and wouldn't have stopped myself out becos the pair didn't fall beyond my risk threshold. those with any experience dealing with brokers, would you say it's fair that it's "just my luck" and the risk i have to accept, or should the 9pips' loss be something the broker refunds by principal of the matter?

Dr.House Nov 9, 2016 12:24pm | Post# 99511

They will never refund you. Last night my metatrader 4, was freezing all the time on the computer. Good thing it was working kind of fine on my tablet and phone

Dr.House Nov 9, 2016 4:45pm | Post# 99512

Anyone with some predictions about the pair?

funzodundee Nov 9, 2016 4:51pm | Post# 99513

Anyone with some predictions about the pair?
Down to 7580...at least

Dr.House Nov 9, 2016 5:10pm | Post# 99514

That's not good for me
I have a big buy on 0.7700, and I hope to go to 0.77200 before or even after 0.7580

dab Nov 9, 2016 5:44pm | Post# 99515

That's not good for me I have a big buy on 0.7700, and I hope to go to 0.77200 before or even after 0.7580
I'm curious when and why you entered large at 77c? Guessing it was after it had already been to .7778, otherwise your TP had already been triggered. Wouldn't have thought taking large positions so close to the election was a good idea and certainly not that close to the top. I am short and have been for quite a while but you can make money either way if you have your position sizing correct. Personally if you had wanted to go long at 77c I'd have started small and built larger positions as it moved against you. Others would say adding to losing positions is a terrible idea. Each to their own I say but IMO very unwise to trade large positions if you are still working out your trading methodology.

Dr.House Nov 9, 2016 5:51pm | Post# 99516

honestly I entered it around 22:00h yesterday night, at it was kind of scalp for not more than 40 pips. I thought that before the final result it will range in between 0.770 and 0.778, but than it dropped and I kept it. Still I am sure that at one point it will go to .772-3 even more and I will close it in profit. Just I need more patience and a bit more confidence

Not-KPMG Nov 9, 2016 5:55pm | Post# 99517

That's not good for me I have a big buy on 0.7700, and I hope to go to 0.77200 before or even after 0.7580
¬¬
It may go up....but unlikely.
I would sell. Sell like hell. 0.65 sooner than 0.78
¬
Kiwi cut rates, aussie next. ¬Trumpster seems hiking rates...FED soon.....
What reason is to buy?¬
¬¬
I never trade A/U but will buy E/A to 1.46 1.50 approximately.
Trade safe.
¬
You need patience and Good Timing too

dab Nov 9, 2016 5:57pm | Post# 99518

honestly I entered it around 22:00h yesterday night, at it was kind of scalp for not more than 40 pips. I thought that before the final result it will range in between 0.770 and 0.778, but than it dropped and I kept it. Still I am sure that at one point it will go to .772-3 even more and I will close it in profit. Just I need more patience and a bit more confidence
You are correct that it should go back to your target at some point and patience would get you there, provided you have sufficient capital to retain the trade if it dips first. Dip could be to 74c or could be a revisit to 67c.

dab Nov 9, 2016 5:59pm | Post# 99519

{quote} It may go up....but unlikely. I would sell. Sell like hell. 0.65 sooner than 0.78 Kiwi cut rates, aussie next. Trumpster seems hiking rates...FED soon..... What reason is to buy? I never trade A/U but will buy E/A to 1.46 1.50 approximately. Trade safe. You need patience and Good Timing too
Why buy E/A at 1.46 when you can get it for under 1.43 right now?

Balmain Boy Nov 9, 2016 6:04pm | Post# 99520

btw, does anyone else here trade with CMC Markets? they were down for around 20 minutes earlier. i discovered the problem while i was trying to close a long scalp on the E/U at breakeven that i could see wasn't going to work out. i couldn't close it, and long story cut short, lost 9 pips needlessly. if my access to the market wasn't interrupted, i would have eventually taken my target profit and wouldn't have stopped myself out becos the pair didn't fall beyond my risk threshold. those with any experience dealing with brokers, would you say it's...
Yeah, I use them - find their connectivity usually very good.
You could of phoned them as an alternative.
No way should you expect to receive any form of compensation - that's the inherent risk of trading via an online system and like every other online broker would be clearly mentioned within their T&Cs.


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