i have got the 2nd sign. the 3rd sign is that sign 2 and 1 should not be broken at the same timeframe
As Above, So Below
AUDUSD/AUDCHF/NZDJPY basket trading using 50 sma and 200 sma 16 replies
Pit Traders - How Do We Classify Their Trading Style? 6 replies
Disliked{quote} there are many signs to look for a reversal but unfortunately i am seeing only one of them: temporary rejection of 7385. the reality is we are in a very strong uptrend and no shorts are justified unless it is a scalp for a few pips at higher high or positional trades with a few hundred pip stop loss. {image} {image}Ignored
Disliked{quote} Placing my shorts firmly in category 2! Whilst I only trade A/U I couldn't help noticing recently the drop in E/A. Can't help thinking the drop in E/A & GBP/AUD has helped push A/U up. If this hypothesis has any validity than it's worth noting that in addition to the 738x resistance on A/U the E/A is around the low from late Dec/ early Jan on daily chart with early December daily low several hundred pips lower and a larger support. Meanwhile on G/A we are probably only a few hundred pips from launching area on weekly chart from April last...Ignored
Disliked30th Nov. 2015 it hit .7385 but closed for the day .7330. 12th Oct. hit .7381 close for day .726. Judging by that history and fact it's been ranging sideways since August it will have a lot of trouble hitting and holding .738. To run up from where it has and then break through the 7 month sideways range and hold higher all in one day seems too unlikely to me. I'm short from .733. Stop loss .74 Will add my little feather to hold it down for all the nervous shorters. Have sell order placed at .7379. 20 pip SL. Gotta get some sleep. Work in five hours....Ignored
Disliked{quote} actually i am pretty scared looking at the daily and weekly when started taking shorts, i was taking into consideration worst possible scenarios, which are happening. so i can hold these shorts until couple of hundred pips more but if we go higher 74, i will start getting out of lower positions. current average position is 7355Ignored
Disliked{quote} I'm short too. But my shorts (from 0,94) are protected at least for now. Well the figures are good, but it seems the market doesn't care. This was the worse week for trading since the 1st of January 2016. Complete chaos.Ignored
Disliked{quote} trading is like playing chess, buddy. i literally mean it. we need to consider several moves ahead and always monitor the situation and conditions on board. what will i do if opponent starts a full range assault or gives a check? do i sacrifice some of my figures to stay in the game and meanwhile try to improve my position? do i go in full defense? or should i setup counter assault? there are almost limitless combinations of how we can handle our forex game.Ignored
Disliked{quote} trading is like playing chess, buddy. i literally mean it. we need to consider several moves ahead and always monitor the situation and conditions on board. what will i do if opponent starts a full range assault or check? do i sacrifice some of my figures to stay in the game and meanwhile improve my position? do i go in full defense? or should i setup counter assault? there are almost limitless combinations of how we can handle our forex game.Ignored