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AUD/USD

  • #14,181
  • Jan 21, 2010 2:22am Jan 21, 2010 2:22am
Quoting tradoholic
Just went short again at 9125. SL 9140. If it breaks the trend line back up then time to wait for another set up
An ABC Pattern right now would be nice.
  • #14,182
  • Jan 21, 2010 2:23am Jan 21, 2010 2:23am
Quoting Ducci
I really really hope that you are right, bring on Europe....
Well that's the direction it's going, but I'm not in control of the steering wheel.
  • #14,183
  • Jan 21, 2010 2:26am Jan 21, 2010 2:26am
aud has broken it's H&S neck line so target must be somewhere around 9020
I consider this bulish movement as a bearish flag right now
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  • #14,184
  • Jan 21, 2010 2:26am Jan 21, 2010 2:26am
Quoting tradoholic
Just went short again at 9125. SL 9140. If it breaks the trend line back up then time to wait for another set up
ur SL is very tight , u should be puting it at 9170 , and add more till this level , if breaks it then u stop it or hedge it , but a SL at 9140 , it could tick it and head back down after touchin 9150-60
  • #14,185
  • Jan 21, 2010 2:29am Jan 21, 2010 2:29am
Quoting Ducci
An ABC Pattern right now would be nice.
Its having a tough time crossing all trend lines. Normally with in this situation, I get out of my trades, but knowing that the trend is downwards towards 9084 line as you see in my chart, I will hold till my SL.
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Find a job that you love and you dont have to work again in your life.
  • #14,186
  • Jan 21, 2010 2:37am Jan 21, 2010 2:37am
Quoting tradoholic
Just went short again at 9125. SL 9140. If it breaks the trend line back up then time to wait for another set up
Well you called the consolidation perfect. I might have to sit on this one a little while. My CCI is showing a short with a cross of my 20 period and 9 period lines on my 60 minute chart which hasn't been there since 19:00 on the 19th, and if you look back that was a good one. If you can't tell I am grasping for optomism at this point.
  • #14,187
  • Jan 21, 2010 2:40am Jan 21, 2010 2:40am
bearish DV on M15 push aud down but neeed to break lower red td
to do it and then break bearish flag to down and complete H&S movement on H4 that was my dream so wait and watch
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  • #14,188
  • Jan 21, 2010 2:41am Jan 21, 2010 2:41am
Quoting Jesus4748
ur SL is very tight , u should be puting it at 9170 , and add more till this level , if breaks it then u stop it or hedge it , but a SL at 9140 , it could tick it and head back down after touchin 9150-60
Knowing my indicators, i know that if it crosses 9135, then it will keep going up. Thats why I put the SL at 9140. This is what I do when I am not sure of a trade but dont want to miss out either. It has worked more times that it has failed. So I stick to it. If it falls below the trend line of 9124 in all 1,5, and 15 min then I will add two more lots.Like now
Find a job that you love and you dont have to work again in your life.
  • #14,189
  • Jan 21, 2010 2:42am Jan 21, 2010 2:42am
Quoting tradoholic
Hi patience,
Didnt you say that 95% of the times this report goes against the traders in majority for a direction?
Hi Tradoholic

No, I said that 95% of retail traders lose - well that's the figure that is always thrown around - that's why it's used as a contrarian indicator. We retail traders have got to be right once in a while don't you think? And yesterday was one of those rare days when the majority had placed their bets the right way.

And it's nothing to do with the volume retail traders generate on the market or what difference it makes. It is a sentiment index.
Nothing worth having is easy.
  • #14,190
  • Jan 21, 2010 2:44am Jan 21, 2010 2:44am
added 2 more big lots at 9122. Should now be smooth sailing.
Find a job that you love and you dont have to work again in your life.
  • #14,191
  • Jan 21, 2010 2:47am Jan 21, 2010 2:47am
Quoting tradoholic
Knowing my indicators, i know that if it crosses 9135, then it will keep going up. Thats why I put the SL at 9140. This is what I do when I am not sure of a trade but dont want to miss out either. It has worked more times that it has failed. So I stick to it. If it falls below the trend line of 9124 in all 1,5, and 15 min then I will add two more lots.Like now
Green is a much prettier color!!!!!! What is your TP, and if you bail, you better send me a note. I would like to stay in until at least .9080, but I know that is pushing it. Not to mention that I will have an ulcer.
  • #14,192
  • Jan 21, 2010 2:51am Jan 21, 2010 2:51am
Quoting Ducci
Green is a much prettier color!!!!!! What is your TP, and if you bail, you better send me a note. I would like to stay in until at least .9080, but I know that is pushing it. Not to mention that I will have an ulcer.
Depending on your broker, the bottom price may vary. I use direct feed from esignal, so 9084 is the true value, sometimes I know that my broker ( CMC) holds back pips when i am shorting. I have seen a difference of upto 15 pips from time to time. But, normally xx10 is a strong support, so plan accordingly
Find a job that you love and you dont have to work again in your life.
  • #14,193
  • Jan 21, 2010 2:55am Jan 21, 2010 2:55am
Quoting Ducci
Green is a much prettier color!!!!!! What is your TP, and if you bail, you better send me a note. I would like to stay in until at least .9080, but I know that is pushing it. Not to mention that I will have an ulcer.
9110 seems to be putting up a fight, I cashed in my 2 big lots with 10 points and am leaving the other one running. bringing the SL to 9126 now.
Find a job that you love and you dont have to work again in your life.
  • #14,194
  • Jan 21, 2010 3:03am Jan 21, 2010 3:03am
Quoting Patience
Hi Tradoholic

No, I said that 95% of retail traders lose - well that's the figure that is always thrown around - that's why it's used as a contrarian indicator. We retail traders have got to be right once in a while don't you think? And yesterday was one of those rare days when the majority had placed their bets the right way.

And it's nothing to do with the volume retail traders generate on the market or what difference it makes. It is a sentiment index.
Thanks for clearing that for me. Much appreciated,
Find a job that you love and you dont have to work again in your life.
  • #14,195
  • Jan 21, 2010 3:04am Jan 21, 2010 3:04am
Quoting tradoholic
9110 seems to be putting up a fight, I cashed in my 2 big lots with 10 points and am leaving the other one running. bringing the SL to 9126 now.

9110 just got KO'd.

GBP/USD getting smashed if anyone feels like kicking when its down...
  • #14,196
  • Jan 21, 2010 3:09am Jan 21, 2010 3:09am
Quoting crak0
9110 just got KO'd.

GBP/USD getting smashed if anyone feels like kicking when its down...
Funny thing happened yesterday, I was long on GBP and put a SL. I cashed in my long and forgot to take my SL out. Well it got hit and it is still running. Happy with that blooper....
Find a job that you love and you dont have to work again in your life.
  • #14,197
  • Jan 21, 2010 3:11am Jan 21, 2010 3:11am
Quoting tradoholic
9110 seems to be putting up a fight, I cashed in my 2 big lots with 10 points and am leaving the other one running. bringing the SL to 9126 now.
I cashed in the 2 lots I took out earlier at .9099, and I am in for another two. This trend looks pretty strong, but I don't plan on giving back the last one.
  • #14,198
  • Jan 21, 2010 3:13am Jan 21, 2010 3:13am
Quoting tradoholic
Funny thing happened yesterday, I was long on GBP and put a SL. I cashed in my long and forgot to take my SL out. Well it got hit and it is still running. Happy with that blooper....

The SL point probably would've also been a valid sell point too http://cdn.forexfactory.com/images/icons/icon7.gif.

Might be worth holding onto if this dollar strength keeps playing...
  • #14,199
  • Jan 21, 2010 3:19am Jan 21, 2010 3:19am
Quoting Geppyg
I have not got much time but would like you to have a look at this chart see if it make sense...
1.Double top
2.Blue Rectangle is the consolidation before the up trend
3.Red Triangle is the Lower Spike buying range

As you can see we have broken into the red rectangle and also formed a bullish engulfing which mean it was full of buyers.

Best way is to wait for confirmation.... before taking a new trade..

Hope this make things a bit clear

Good Luck
Geppyg
As I said last night, We should not see higher than 155, We touched 146 exactly as per the chart which is the upper trading range and crashed back down again.
Part 1 of the trade is over

Now lets see how Part 2 Plays out.

Have a good day everybody
Let Price determine your future!
  • #14,200
  • Jan 21, 2010 3:19am Jan 21, 2010 3:19am
Quoting tradoholic
Funny thing happened yesterday, I was long on GBP and put a SL. I cashed in my long and forgot to take my SL out. Well it got hit and it is still running. Happy with that blooper....
I love it those kind of surprises. Now I knew that it would retrace a bit, but it is still well within the trendline. I did see a bull gap up on my 5 min, and I was hoping that was just a broker glitch anyone else see it? Are you stll in short?
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