DislikedIt's a long ways down to 138. Got a few pips protected. Gonna let it ride. Let's see what happens.
BartstopIgnored
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
COT trading system with free indicator 297 replies
No Free Lunch but all the Free Coffee you can drink 736 replies
SWAP free, rollover free Broker? 15 replies
How to free indicator resources? indicator called from EA 6 replies
DislikedIt's a long ways down to 138. Got a few pips protected. Gonna let it ride. Let's see what happens.
BartstopIgnored
DislikedOk Ed, this is my understanding of the TK method. I don't usually trade this pair put I see one setting up.
The first chart shows the AUDJPY Daily chart. As you can see we are currently in a down trend. So we will be looking for shorts. Right?
The second chart is the hourly. See the high at circle 1? Price is turning direction and heading back down. You put your 100 line there.
Circle 2 is a retracement of the down move. Line up the high of that retracement with the 61.8 line. To the pip.
Circle 3 is confirmation that this is a valid fib....Ignored
DislikedAs an aside, using Compass's technique, what do you look for after a candle completes and today isn't over yet? Example, when you fib yesterdays aud/usd, price retraced to 76.4 level, hovered there for a few hours then plummeted to well below -161.8. What now? If I missed that trade, what am I waiting for now? Do I need to wait for the day to end, move my fib and start over? Bear with me folks.
edIgnored
DislikedI think I'll stick to Monopoly money for now mate. I went short AUD at .9101, could be the straw that breaks the camels back.
MD.Ignored
DislikedMy short went about 30 pips up while I was on my way home, missed them though. I noticed kiwi retails sales were out tonight which I thought had a chance to be stronger so I stuck a trailing stop on my Aud. They were good and Aud got dragged up in sympathy. Only got 7 pips on that one. Couple of bottles worth of jack daniels I suppose.Ignored
DislikedOk Ed, this is my understanding of the TK method. I don't usually trade this pair put I see one setting up.
The first chart shows the AUDJPY Daily chart. As you can see we are currently in a down trend. So we will be looking for shorts. Right?
The second chart is the hourly. See the high at circle 1? Price is turning direction and heading back down. You put your 100 line there.
Circle 2 is a retracement of the down move. Line up the high of that retracement with the 61.8 line. To the pip.
Circle 3 is confirmation that this is a valid fib....Ignored
DislikedWhere are you aiming?
I'm only going for the 138 retrace near 1.6200 , cause I hear talk of 1.6300 expiries today.Ignored
DislikedQuestion for everyone here... Was this a valid trade (going long on the 100 break)? Any idea why it went bad? Granted, I suppose it's still in play but I don't feel very good about it at this point...
Looking at Daily and Weekly charts I don't see any reason for it to go down further but who knows... Any insight is appreciated.Ignored