AUDJPY
longer term trend DOWN
longer term trend DOWN
Attached Image
Slow&Steady Trading 4 replies
slow and steady trading to the millions... 18 replies
Slow and Steady... 17 replies
Quoting MosaicDislikedHi HTP,
Thanks...at least someone's reading this !!
Not sure I'm qualified to be giving advice...but I'll give my 2cents worth nonetheless.
If I understand you correctly, you want to go short gbpaud once market calms down after NFP. So maybe at 2.5100 (blue line) Limit at 2.4700 and stop at 2.6000 (red line).
Logic for the trade would be return to trend line. Bounce off of previous level of about 2.500 and also 2.5000 is a nice round number, which often creates levels of resistance/support.
I am not one to have definitive risk reward ratios...it all depends. But to risk 1000 pips for 400. Bit rich for my blood. Also I feel I would be picking a high having nothing to support it except the latter 2 reasons given above which I don't feel are that strong. I will probably wait till it gets back down to the trend line at about 2.47, start going back up and go long...so hopefully will be opening my long as you close your short for 400 pips !! (BIG triangle).
Certainly wouldn't short until I saw an obvious turn down below 2.5000.
Good luck.
CheersIgnored
Quoting HTP80DislikedHi Mosaic,
Good to see your thread is still progressing.....
Remember the below? GBPAUD. Support, Resistance and Trend Lines worked perfectly.I'll be closing it shortly to walk away with a decent number of pips.
good luck with the long if you go ahead.
cheersIgnored
Quoting newbieinfxDislikedHi Mosaic,
Every day i look at your display chart first before reading another posts .
Please if possible post your anlysis charts for all majors eveyday for newbie like me to study .
Thanks again for your fabulous charts.Ignored
Quoting MosaicDislikedHi HTP,
Thought of your trade many times while watching gbpaud move sideways for awhile and then especially thought of your trade when it plummeted down and hit your limit so well !! Thank goodness I didn't take the long at 2.47...
Would love to know how your s/r/tl indicated the possibility of the move down.
Well done !!!
CheersIgnored
Quoting MosaicDislikedUpdate...
instead of looking at graphs to see if they were signalling anything, I was trying to find a signal in the graphs. Read that again...its fundamentally different. Have let my great mentors (RB, PI and JH) down badly in the last few days, but will pick myself up and get posting. The slow and steady approach which is what this whole thread was about got nailed. Silly me.Ignored
Quoting piccoloDislikedyeah, the x in terms of $$ or pips is a mind killer. i like your style and posts. it is impossible for me to sit with "slow and steady", however. trying to learn it from you.Ignored