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AUD/USD

  • #5,781
  • Oct 7, 2009 2:53am Oct 7, 2009 2:53am
To those who's thinking of taking long... just hold your horses for a while because we're just about to see a short retracement... if the retracement will be very deep it might be sideways or ranging for a while and back up again or worse (very slim chance) reversal
Success consists of going from failure to failure without loss of enthusiam
  • #5,782
  • Oct 7, 2009 2:53am Oct 7, 2009 2:53am
Quoting Pak Tiger
Never Mind G-Man!! I guess everyone has tendency to go overboard at times and we should forgive and forget when such things happen. Thats why I didn't say much to him and just said that we should all respect each other. Lets move on and focus on Trading !
your a good man pak tiger goodluck
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #5,783
  • Oct 7, 2009 2:58am Oct 7, 2009 2:58am
if you have few losses better close all your position, turn off your computer and don't trade for at least a day or two. Once your mind is clouded by doubt and fear, you can hardly see even the very obvious of signals and triggers that will give you a good trade. if not, apply a better money management. always work out your risk reward ration

cheers
Success consists of going from failure to failure without loss of enthusiam
  • #5,784
  • Oct 7, 2009 2:59am Oct 7, 2009 2:59am



Action Forex Daily outlook:
AUD/USD's rally is still in progress and breaks mentioned 61.8% projection of 0.6284 to 0.8262 from 0.7702 at 0.8924 today. At this point, intraday bias remains on the upside as long as 0.8864 minor support holds. Nevertheless, we're still anticipating some loss of upside momentum inside the current resistance zone of 0.8924/0.9 and bring a short term top here. Below 0.8864 minor support will flip intraday bias back to the downside for 0.8567 support. However, sustained trading above 0.9 will indicate that AUD/USD is rebuilding momentum and will target 100% projection at 0.9756 next.

http://www.actionforex.com/images/st...d20091007a.gif

  • #5,785
  • Oct 7, 2009 2:59am Oct 7, 2009 2:59am
Quoting blue_z_zz
your a good man pak tiger goodluck

Thanks bro!! And good luck to you as well!!


Can i ask what type of charts most of you guyz use here like 4H, 1H, 15M, 5M or 1M?

I focus mainly on 15M chart , then 5M and 1M. I also use Bollinger Bands, Pivots and RSI to catch the trend.
  • #5,786
  • Oct 7, 2009 3:00am Oct 7, 2009 3:00am
Morning Guys

Attached File(s)
File Type: pdf BOS_Market_Strategy_Daily_7_Oct_2009.pdf   93 KB | 345 downloads


Good trades
Nothing worth having is easy.
  • #5,787
  • Oct 7, 2009 3:04am Oct 7, 2009 3:04am
Quoting Pak Tiger
Thanks bro!! And good luck to you as well!!


Can i ask what type of charts most of you guyz use here like 4H, 1H, 15M, 5M or 1M?

I focus mainly on 15M chart , then 5M and 1M. I also use Bollinger Bands, Pivots and RSI to catch the trend.
15M and 4H for short and longer term views

I use 200 days moving average to see the main trend, and try to exploit the excess of the markets selling the highs and buying the lows

trying to hedge when is possible
  • #5,788
  • Oct 7, 2009 3:07am Oct 7, 2009 3:07am
Quoting fammira
15M and 4H for short and longer term views

I use 200 days moving average to see the main trend, and try to exploit the excess of the markets selling the highs and buying the lows

trying to hedge when is possible
Great! That was very helpful.

How many pips (roughly) does the AUD/USD moves per day? I am asking about a normal day with average/normal movement. Just wanna get some idea about its daily movement in pips?
  • #5,789
  • Oct 7, 2009 3:10am Oct 7, 2009 3:10am
Attached Image (click to enlarge)
Click to Enlarge Name: audusd now.jpg Size: 92 KB


Here's a hourly chart... now i believe it's due for a slight retracement down to resistance A and bounce back. Now we have to watchout for these s/r lines B&C, if by any chance the momentum of bulls will accelerate again and will break up passed 8945 then i will wait for the next candle i will enter long but on the other hand it will go down passed 8925 then i will wait until it will bounce back.

is it possible to breakout @ 8910? if so join the rallies
Success consists of going from failure to failure without loss of enthusiam
  • #5,790
  • Oct 7, 2009 3:12am Oct 7, 2009 3:12am
Quoting G_Man
anyway ...

this probably be the worst in this year for me ...

but i am still battling and will keep on battle ...

last soldier standing at 90
Brov...It is not just you ..
I have been trading for 5 years a full time trader ...and I cant stress enough that this has been a very tough year for most traders....so dont take that this is down to your trading skill set...
for me after the month of july the last three months.. have been battling over 18 hours a day....

Good Luck
GeppyG
Let Price determine your future!
  • #5,791
  • Oct 7, 2009 3:13am Oct 7, 2009 3:13am
Quoting Pak Tiger
Thanks bro!! And good luck to you as well!!


Can i ask what type of charts most of you guyz use here like 4H, 1H, 15M, 5M or 1M?

I focus mainly on 15M chart , then 5M and 1M. I also use Bollinger Bands, Pivots and RSI to catch the trend.
normally i pull out weekly first and monitored daily, 4 hr and 1 hr the lowest time frame... but time to time i still go 15 min just for quick trades
Success consists of going from failure to failure without loss of enthusiam
  • #5,792
  • Oct 7, 2009 3:13am Oct 7, 2009 3:13am
Can we dotpoint some reasons as to why this pair should see a strong reversal soon?

Why should this uptrend not continue?
  • #5,793
  • Oct 7, 2009 3:13am Oct 7, 2009 3:13am
Quoting Pak Tiger
Great! That was very helpful.

How many pips (roughly) does the AUD/USD moves per day? I am asking about a normal day with average/normal movement. Just wanna get some idea about its daily movement in pips?
around 120 pips, min 80 max 160
  • #5,794
  • Oct 7, 2009 3:15am Oct 7, 2009 3:15am
Quoting fammira
around 120 pips, min 80 max 160
of course I am talking about normal conditions, I saw 200 -250 pips move on this pair though is not usual
  • #5,795
  • Oct 7, 2009 3:16am Oct 7, 2009 3:16am
Quoting Pak Tiger
Thanks bro!! And good luck to you as well!!


Can i ask what type of charts most of you guyz use here like 4H, 1H, 15M, 5M or 1M?

I focus mainly on 15M chart , then 5M and 1M. I also use Bollinger Bands, Pivots and RSI to catch the trend.
for i use daily and 1 hour charts mostly 1 hour before when i get my confermation i go in focus with 5min chart to get my trade done i dont use any indicators other than volume & ma
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #5,796
  • Oct 7, 2009 3:18am Oct 7, 2009 3:18am
changing topics for a while

USDJPY at 88,10 is a buy
  • #5,797
  • Oct 7, 2009 3:20am Oct 7, 2009 3:20am
Quoting Geppyg
Brov...It is not just you ..
I have been trading for 5 years a full time trader ...and I cant stress enough that this has been a very tough year for most traders....so dont take that this is down to your trading skill set...
for me after the month of july the last three months.. have been battling over 18 hours a day....

Good Luck
GeppyG

i was about to quit after a bad experience last year; i nearly wiped out all my lifetime savings in just 3 months but maybe i am no quitter and i paused for a month or so and start getting focused and balancing my strength and weakness and incorporate into my trading. i went out and talk and minggle with some real traders and get some advice from them.

now i'm back with trading forex but this time i clean up my chart... just looking at price action. and i'm more confident now, a lot better before when i was using a lot of lagging indicators.
Success consists of going from failure to failure without loss of enthusiam
  • #5,798
  • Oct 7, 2009 3:22am Oct 7, 2009 3:22am
Quoting dongsky
i was about to quit after a bad experience last year; i nearly wiped out all my lifetime savings in just 3 months but maybe i am no quitter and i paused for a month or so and start getting focused and balancing my strength and weakness and incorporate into my trading....
yes indicators just confuse
  • #5,799
  • Oct 7, 2009 3:24am Oct 7, 2009 3:24am
Quoting fammira
changing topics for a while

USDJPY at 88,10 is a buy
Absolutely!! I already in it at 88.09 and 88.22 long !!!
  • #5,800
  • Oct 7, 2009 3:24am Oct 7, 2009 3:24am
Quoting fammira
changing topics for a while

USDJPY at 88,10 is a buy
hi bro, it looks like a continuation pattern to me
Success consists of going from failure to failure without loss of enthusiam
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