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AUD/USD

  • #14,581
  • Jan 25, 2010 1:26am Jan 25, 2010 1:26am
Quoting puks
You got it wrong.

I only risk the amount that I can afford to lose.

Unlike you, I don't put my balls or ass on line when I trade.
good on you then, lets trade
  • #14,582
  • Jan 25, 2010 1:47am Jan 25, 2010 1:47am
Hi, anybody foresee it's a uptrend? I'm learning Fib. with TSR and want to get some confirmation on my judgement with

Thanks
  • #14,583
  • Jan 25, 2010 1:49am Jan 25, 2010 1:49am
what timeframe you using fibs on?
  • #14,584
  • Jan 25, 2010 1:51am Jan 25, 2010 1:51am
Quoting Saxon
what timeframe you using fibs on?
1H
  • #14,585
  • Jan 25, 2010 2:00am Jan 25, 2010 2:00am
Quoting Paik_C
1H
Here's what I got:

My Ashi is showing red, but as you can see, I am showing an upper shadow. This is giving me a medium/mild down:

My Ashi overlay is crossing as well. Green over red. Medium down

we have been hugging R1 and can't seem to break it so I am looking medium down on this as well.

Lastly, you can see on my overlay, with lag, that we are turning down:

Overall I am looking rather bearish. I am looking on 1hr as well. I have been doing really well on my shorts tonight. I am only on the market for about 10 min at a time, but I am about to go long-term short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ashi.gif Size: 34 KB
Click to Enlarge Name: ashi2.gif Size: 33 KB
Click to Enlarge Name: r1.gif Size: 36 KB
Click to Enlarge Name: overlay.gif Size: 38 KB
  • #14,586
  • Jan 25, 2010 2:01am Jan 25, 2010 2:01am
Also, beware of the .9000 bounce if we continue down
  • #14,587
  • Jan 25, 2010 2:18am Jan 25, 2010 2:18am
Bout to hit my TP, did really well on this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: tp.gif Size: 34 KB
  • #14,588
  • Jan 25, 2010 2:20am Jan 25, 2010 2:20am
Quoting Saxon
Bout to hit my TP, did really well on this trade.
My support is 0.9028. What's yours
  • #14,589
  • Jan 25, 2010 2:24am Jan 25, 2010 2:24am
Quoting Paik_C
My support is 0.9028. What's yours
.9025
  • #14,590
  • Jan 25, 2010 2:25am Jan 25, 2010 2:25am
Although, I think the market might bypass this support, if we reach it, and be too focused on .9000 so that is where I am really looking.
  • #14,591
  • Jan 25, 2010 2:40am Jan 25, 2010 2:40am
Quoting Saxon
Although, I think the market might bypass this support, if we reach it, and be too focused on .9000 so that is where I am really looking.
Can you help me. I learn Fib by myself and I'm a bit confuse when to take the entry. If it's didn't break the resistence level, then we will go short and when it didn't break the support level, we will go long. Am I right?

Last time I only based on TSR alone but the I think it's not sufficient, therefore I try to learn Fib to go with it.
  • #14,592
  • Jan 25, 2010 2:53am Jan 25, 2010 2:53am
Quoting Saxon
Although, I think the market might bypass this support, if we reach it, and be too focused on .9000 so that is where I am really looking.
Have been short AUDUSD 92.16 profit 216 . area to watch 9000 and no entry until a close below 89 70 support

NZDUSD short at 7400 profit 247.

retracement Entries now short are AUDUSD 9071/ 9100 stop 91.05 watching the

NZDUSD 7206 stop 72.42 support 71.23 70. 91
  • #14,593
  • Jan 25, 2010 2:55am Jan 25, 2010 2:55am
Quoting Paik_C
Can you help me. I learn Fib by myself and I'm a bit confuse when to take the entry. If it's didn't break the resistence level, then we will go short and when it didn't break the support level, we will go long. Am I right?

Last time I only based on TSR alone but the I think it's not sufficient, therefore I try to learn Fib to go with it.
Depends on the timeframe and trend you draw the fib lines, general rule is 50% as per Steve Nison and J Person.

Fib is only one tool, you need to be loking at a confluence of indicators at that level for any trade to take place.

best to post a chart so people can see what you are doing
  • #14,594
  • Jan 25, 2010 2:57am Jan 25, 2010 2:57am
Quoting Paik_C
Can you help me. I learn Fib by myself and I'm a bit confuse when to take the entry. If it's didn't break the resistence level, then we will go short and when it didn't break the support level, we will go long. Am I right?

Last time I only based on TSR alone but the I think it's not sufficient, therefore I try to learn Fib to go with it.
It really depends, but you are on the right track. I really only find Fibs useful on D1 time. But some find it useful on shorter terms. On my D1, My 61.8 (Where I would expect a bounce, is a little below .9000, but since big round numbers (.9000, .8000) are where big banks and funds step in, I would move my support to .9000. I would place a pending order to "buy" right above .9000. If you look at a D1 chart for this pair, you will see it flatten out right at .9000 so if you placed an order at your 61.8 support, you would have missed the boat.
  • #14,595
  • Jan 25, 2010 2:57am Jan 25, 2010 2:57am
Quoting pjpipster
Depends on the timeframe and trend you draw the fib lines, general rule is 50% as per Steve Nison and J Person
I'm using 1H, 4H time frame and 32.8 & 61.2.
  • #14,596
  • Jan 25, 2010 2:58am Jan 25, 2010 2:58am
I don't rely on Fibs too much
  • #14,597
  • Jan 25, 2010 4:02am Jan 25, 2010 4:02am
Well it’s been bouncing off S/R at 90670 for the last 7 hours. If it runs out of breath I think it will sink to 90000. If it gets angry enough it could hit 91270.

I have buystop and sellstop 35pips above and below 90670, so let’s see if that stirs it up.http://cdn.forexfactory.com/images/icons/icon12.gif

Peter-FX
  • #14,598
  • Jan 25, 2010 4:12am Jan 25, 2010 4:12am
Thank god for eye drops. I don't think i've blinked in the last few hours staring at these stupid screens. Time to fire up the XBOX
  • #14,599
  • Jan 25, 2010 4:25am Jan 25, 2010 4:25am
Quoting Paik_C
I'm using 1H, 4H time frame and 32.8 & 61.2.
Follow the Pro crowd, most use 50% but you MUST have a confluence of indicators at that level. EX: trendline break, S/R zone , candle pattern, price action.
  • #14,600
  • Jan 25, 2010 4:45am Jan 25, 2010 4:45am
My call is simple .

Weekly up, daily sideways, 4hr down, 1hr sideways. resistance on the 50sma 8 hrs/ 1hr chart candle bullish, 4hr candle size decreases on the uptrend. daily r1 9071, upper zone of importance 9098/9100/

Conclusion: sell into the strength. first sell, but more risk 9071 stop 9115 2nd sell zone 9100 stop 9140

sell limit 9071 just triggered prefer the 9100 zone for short entry

a close above 9071 on the ihr candle will be bullish

resistance at 9082/89

weekly pivot 9098
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