nice movement.
Looking for long entry point
Looking for long entry point
- #102,502
- Aug 15, 2017 7:44am Aug 15, 2017 7:44am
- | Membership Revoked | Joined Nov 2012 | 3,392 Posts
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
- #102,503
- Aug 15, 2017 7:44am Aug 15, 2017 7:44am
- Joined Apr 2017 | Status: trying to make money | 3,341 Posts
Don't Worry Be Happy
- #102,506
- Aug 15, 2017 7:55am Aug 15, 2017 7:55am
{quote} Going wellDaily chart. Shall close my shorts in that region and take profit for the week. At the same time, monitor PA for potential long trades (only if there are bullish PA, otherwise i wouldn't go against the grain) Cheers! {image}
Patience does pay well.
{quote} Good idea. IMO, .78 is going to be a strong level with a likely visit back to .80 area before going any lower.
- #102,513
- Aug 15, 2017 8:12am Aug 15, 2017 8:12am
{quote} Thx for the tip. I've been anticipating bounces by buying/selling at what I think may be strong levels before price action. I feel like that puts me in an advantageous position with tighter stops and the ability to get out quick with minimal loss if I'm wrong. If you wait for price action don't you lose the chance of an A+ entry? I'm always looking to learn so looking forward to your response.
For instance, if prices start to fall like AU, current price .7815, how do we determine if .78 is the bottom and the next move is up? Wait for prices to form bullish candles first, make a flag and engage once the flag is completed so that you are certain that the bulls are in.
Refer to the chart that i had attached.
No doubt about it that it is in a downtrend (or some will call it a correction amidst the uptrend)
Yellow line represents the downtrend.
Red line is whereby prices create a flag, prices do not move in a straight line in any markets. Hence a flag is like a respite. After the flag, downtrend resumes.
I hope my explanation helps
Long term view for AUD/USD Odds are for bulls in the long term {image} {image}
My view of the month shows and eventual drop to 75, perhaps lower.
- #102,515
- Aug 15, 2017 8:19am Aug 15, 2017 8:19am
{quote} Interesting how everyone has a different way of looking at the charts. My view of the month shows and eventual drop to 75, perhaps lower. {image}
Everyone can have different perspectives and bias, yet at the same time be profitable
- #102,518
- Aug 15, 2017 8:23am Aug 15, 2017 8:23am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} you might be onto something there. Intersection of two trend lines here. I'd still wait for conformation though. {image}
Money moves the market, not an indicator.
- #102,519
- Aug 15, 2017 8:25am Aug 15, 2017 8:25am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Interesting how everyone has a different way of looking at the charts. My view of the month shows and eventual drop to 75, perhaps lower. {image}
Isn't that interesting ? What is not shown in MT4 is shown in advanced pro platforms .
Money moves the market, not an indicator.