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PTL Goes Daily

  • #81
  • Apr 2, 2018 8:07am Apr 2, 2018 8:07am
Quoting smikester
{quote} I don't know about the Euro. It is still trading inside the JDD. It is consolidating under the 1.24 previous support. I'm just filling up space, here. When the Germans invent a limitless battery with anti gravity capabilities, then things will change.

agree, range bound as of late...lots of levels above, not so much below....waiting for something to develop...will get a chart together later...
Look Sharp/Trade Tight
  • #82
  • Apr 2, 2018 9:30am Apr 2, 2018 9:30am
Quoting PayTheLimit
{quote} haven't looked at those markets in a while....I will however...
why not? soft commodities markets are like a leading indicator for inflation (from a fundamental analysis point of view, not that i'm trading like that, just ilike to see a problem form different angles) they develop nice trends and technical analysis is pretty reliable even for short term trading opportunities
Price itself it's an indicator
  • #83
  • Apr 2, 2018 9:52am Apr 2, 2018 9:52am
Quoting m3rlin
{quote} why not? soft commodities markets are like a leading indicator for inflation (from a fundamental analysis point of view, not that i'm trading like that, just ilike to see a problem form different angles) they develop nice trends and technical analysis is pretty reliable even for short term trading opportunities
what if you are trading them using a long term trading approach, holding positions for weeks or months? someone with a tinny, tinny techinical edge can have a decent return, maybe he will enter a trade having supply/demand laws on his side, developing nice trends (i call them true trend, just read soros books, he speaks about false/true trends) or he will be lucky enough to buy a bubble at the beginning ( commodities markets are able to form bubbles, currency markets not really).
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Price itself it's an indicator
  • #84
  • Apr 2, 2018 10:36am Apr 2, 2018 10:36am
Quoting m3rlin
{quote} why not? soft commodities markets are like a leading indicator for inflation (from a fundamental analysis point of view, not that i'm trading like that, just ilike to see a problem form different angles) they develop nice trends and technical analysis is pretty reliable even for short term trading opportunities
I got my start in commodities, that's what I traded mostly for a long time...I gave them up after I left the floor, and gradually moved to trading FX exclusively....I might start charting them again...I'll see..
Look Sharp/Trade Tight
  • #85
  • Apr 2, 2018 10:40am Apr 2, 2018 10:40am
btw, feel free to post commodities charts here at your leisure....
Look Sharp/Trade Tight
  • #86
  • Apr 2, 2018 10:41am Apr 2, 2018 10:41am
some movement now...still have GBP on my buy list at 1.3920, will have a look to see if anything else is getting close, back in a while...
Look Sharp/Trade Tight
  • #87
  • Apr 2, 2018 11:23am Apr 2, 2018 11:23am
Quoting PayTheLimit
{quote} I got my start in commodities, that's what I traded mostly for a long time...I gave them up after I left the floor
wow, you've been on the floor, how it was? nice experience i assume, observing people's behavior
Price itself it's an indicator
  • #88
  • Apr 2, 2018 12:35pm Apr 2, 2018 12:35pm
Quoting m3rlin
{quote} wow, you've been on the floor, how it was? nice experience i assume, observing people's behavior
Yes, as you can imagine it was quite an experience. Miss it everyday. Far more interesting that sitting behind a screen. I even miss all the jackoffs, which there where plenty.
Look Sharp/Trade Tight
  • #89
  • Apr 2, 2018 12:38pm Apr 2, 2018 12:38pm
Looking at 128ish in EJ, might be an interesting spot....
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Look Sharp/Trade Tight
  • #90
  • Apr 2, 2018 3:25pm Apr 2, 2018 3:25pm
My first contribution to this thread

AUDUSD is currently sitting at a crucial level, with the RBA making her Rate Statement in a few hours, and price currently very close to the 2016 Trendline, i am looking at two levels for support, first one is 0.76430 (29 March Low), the second one could be more crucial to remain bullish on the longer term; 0.76000.

The Dollar Index has been getting some Bullish momentum towards the end of March, if this holds, we might very well find the AUD currency in trouble, however i expect the DXY not to hold onto to that momentum, the end of the quarter is done, we might find some 'air' before really deciding what is going to happen, this could leave space for the AUD to trade higher.

I am looking to go bullish if the news of the RBA is hawkish, let's trade to the top of the channel and make some €...!

ps; my outlook is based on the weekly, but is similair for the daily, the weekly overview just presents a more clear view in this case
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  • #92
  • Apr 3, 2018 3:10am Apr 3, 2018 3:10am
Quoting thejerre
My first contribution to this thread AUDUSD is currently sitting at a crucial level, with the RBA making her Rate Statement in a few hours, and price currently very close to the 2016 Trendline, i am looking at two levels for support, first one is 0.76430 (29 March Low), the second one could be more crucial to remain bullish on the longer term; 0.76000. The Dollar Index has been getting some Bullish momentum towards the end of March, if this holds, we might very well find the AUD currency in trouble, however i expect the DXY not to hold onto...
for me its a waiting game right now....7640 is very important support, the last support for the bulls against the lows from early December, and while I could have argued for longs against it, I passed.....now waiting for a break of it to look for shorts on a bounce, or a hold and breach of immediate resistance at 7740 to look for longs....
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Look Sharp/Trade Tight
  • #93
  • Apr 3, 2018 3:20am Apr 3, 2018 3:20am
I didn't chart this pair but when I flipped open the chart there was a red horizontal line at .7650, which I had idly put there. I like the rough wedge formation showing on the daily. Thanks for the heads up thejerre.
Gone to a better place
  • #94
  • Apr 3, 2018 11:56am Apr 3, 2018 11:56am
to spots in dollar/swiss to keep an eye on as we continue higher....will see if anything lines up with EU also....
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Look Sharp/Trade Tight
  • #95
  • Apr 3, 2018 12:02pm Apr 3, 2018 12:02pm
Good thread PTL!
Focus.
  • #96
  • Apr 3, 2018 12:08pm Apr 3, 2018 12:08pm
both near term s/r has been tested in EU...don't know if that better, or worse at this point...

weekly is flagish against resistance....

things to consider...back a little later, trade safe...
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Look Sharp/Trade Tight
  • #97
  • Apr 3, 2018 12:47pm Apr 3, 2018 12:47pm
liquidetey is so poor
  • #98
  • Apr 3, 2018 2:38pm Apr 3, 2018 2:38pm
Quoting smikester
I didn't chart this pair but when I flipped open the chart there was a red horizontal line at .7650, which I had idly put there. I like the rough wedge formation showing on the daily. Thanks for the heads up thejerre.
Your welcome for now on the sidelines, the RBA did not bring any news the market hadn't already factored in.
I still like this setup, but to get my R/R correct i want to price dip lower... At least the the recent low 0.76430 (in that area).

I think we'll see another push upwards if the 61.8% fib retracement on the hourly timeframe is tested and respected. If price does fails to reach 0.77844 this attempt, things will get real interesting.

patience is everything, timing is crucial

safe trading everybody!
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  • #99
  • Apr 3, 2018 11:33pm Apr 3, 2018 11:33pm
Quoting PayTheLimit
So, lets keep it simple. Daily charts, ONLY.
People, please. Lets keep it simple. Plus we are all adults here. I know that people will be looking for entries on lower TFs, and that's understandable. Personally, I will not, nor do I think its necessary for our discussion. No harm, no foul. Lets stick with the program, thank you.
Look Sharp/Trade Tight
  • #100
  • Apr 3, 2018 11:38pm Apr 3, 2018 11:38pm
Quoting thejerre
{quote} patience is everything, timing is crucial{image}
Agree. Waiting for the daily to move takes a hell of a lot of time, compare to the lower TF's. I haven't traded this week, yet, and might not. But that's a relief really, and certainly makes me happy.
Look Sharp/Trade Tight
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