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  • #20,661
  • Mar 31, 2010 4:44am Mar 31, 2010 4:44am
Quoting GoldenGold
I'm still new to forex and still searching for a system that suits me.
Need to gain more experience before I can call myself a "steady" trader. lol.
That was a good article. Cheers IdentifyTren
Hey Golden,
No worries. My friend sent me this a while back. It is basic S/R and it will help to get you off to a good start. S/R, Trend Lines, Fibs, Volumes and a few simple indicators are all I use. After you read this and if you like it, shoot me a message and I will send some more stuff you way to help you develop your own trading style.

I think the attached was posted a while back by some guys on FF. It gets cheezy at parts, but it is some good stuff. Hope you like it
Attached File(s)
File Type: pdf support and resistance trades.pdf   652 KB | 452 downloads
  • #20,662
  • Mar 31, 2010 4:47am Mar 31, 2010 4:47am
Too long for me to hold a position.
I like to be in and out of the market by the end of the day...any views on this time frame?

Quoting USD-Bear
mmm, difficult question, would guess some 14 trading days.....
  • #20,663
  • Mar 31, 2010 4:51am Mar 31, 2010 4:51am
Quoting Saxon
Hey Golden,
No worries. My friend sent me this a while back. It is basic S/R and it will help to get you off to a good start. S/R, Trend Lines, Fibs, Volumes and a few simple indicators are all I use. After you read this and if you like it, shoot me a message and I will send some more stuff you way to help you develop your own trading style.

I think the attached was posted a while back by some guys on FF. It gets cheezy at parts, but it is some good stuff. Hope you like it

thx, i give it a read
  • #20,664
  • Mar 31, 2010 4:53am Mar 31, 2010 4:53am
Quoting stwk81
Too long for me to hold a position.
I like to be in and out of the market by the end of the day...any views on this time frame?
Within short TF I would watch 91.73 - 91.10 range see previous chart
Don't be a hero. Don't have an ego. Always question yourself
  • #20,665
  • Edited 5:13am Mar 31, 2010 4:54am | Edited 5:13am
Quoting Dukeabout
does anybody put in consideration tha AU might become strongly bullish with target ,95x??
I mean it is heading TL already so 4th time and news seem not matter at all.
Sorry for the messy chart, it is my Short-Frame chart, pulled out. I will change my view if PA breaks my upper TL. I am still bearish until then. I'm taking a nap until NY
Attached Image (click to enlarge)
Click to Enlarge Name: ggg.jpg Size: 208 KB
  • #20,666
  • Mar 31, 2010 5:57am Mar 31, 2010 5:57am
Quoting Saxon
Sorry for the messy chart, it is my Short-Frame chart, pulled out. I will change my view if PA breaks my upper TL. I am still bearish until then. I'm taking a nap until NY
thanks - that's makes sense to me - I guess I just wait and see...
  • #20,667
  • Mar 31, 2010 6:46am Mar 31, 2010 6:46am
hmm, still range bound? haha
george how you doing

since market's slow i might take it easy for today
  • #20,668
  • Mar 31, 2010 6:52am Mar 31, 2010 6:52am
Quoting OvT
hmm, still range bound? haha
george how you doing

since market's slow i might take it easy for today
Still short; somewhat optimistic now that my drawdown has become manageable again (plus the other short I took from 0.92 has worked rather nicely).

Let's see what New York brings, but I'm looking forward to trend resumption and eventual retest of 0.9000, which is where I will seriously consider closing the shorts or maybe letting some run with a portion of profit taken.
  • #20,669
  • Mar 31, 2010 6:59am Mar 31, 2010 6:59am
Quoting OvT
hmm, still range bound? haha
george how you doing

since market's slow i might take it easy for today
ADP unemployment out in 15min. It will wake up!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,670
  • Mar 31, 2010 7:00am Mar 31, 2010 7:00am
Quoting George C
Still short; somewhat optimistic now that my drawdown has become manageable again (plus the other short I took from 0.92 has worked rather nicely).

Let's see what New York brings, but I'm looking forward to trend resumption and eventual retest of 0.9000, which is where I will seriously consider closing the shorts or maybe letting some run with a portion of profit taken.
with the rate hike ahead, im a bit wary of being to strong shorty
i might stay light until next tuesday, so yeah, becareful

though retail sales today has brought her down, and perhaps put some doubts into the rate hike next week, being shorty might not be a bad thing after tuesday, on the other hand, house prices are still going up which forces interest rate to go higher

still hard to say, you know
  • #20,671
  • Mar 31, 2010 7:01am Mar 31, 2010 7:01am
Quoting MarcVUM
ADP unemployment out in 15min. It will wake up!
oh right! and i was going to call it a day
i'll watch then
  • #20,672
  • Mar 31, 2010 7:03am Mar 31, 2010 7:03am
forecast is better than previous
forgive me pointing out the obvious, thinking aloud

if it's better than previous, probably don't matter better than forecast or not
it should pressure a/u to go down

means ill be watching the strong S so far - 91365
  • #20,673
  • Mar 31, 2010 7:04am Mar 31, 2010 7:04am
I have closed most of my shorts and only have some smaller ones now, will build these up if we break out of this range to the downside, Made a small profit on shorts but closed bulk as Im at odds with this pair. 12.7% week so far, although I might have picked up some more pips I want to conserve that figure.
  • #20,674
  • Mar 31, 2010 7:07am Mar 31, 2010 7:07am
Looking at my H4 and H1 charts I too believe that the ADP report will push the A/U lower... however, like Amyc said, if it doesn't close below 9116 today the A/U will likely go higher. I am seeing this setup definitely on my H4. IMO, if you have open shorts look to close them with some profit today. It being the last day of the month we will be getting a new monthly candle tomorrow!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,675
  • Mar 31, 2010 7:13am Mar 31, 2010 7:13am
This is what I mean
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 126 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,676
  • Mar 31, 2010 8:20am Mar 31, 2010 8:20am
still ranging, 91365 strong, plus fib 38.2 is 9133
  • #20,677
  • Mar 31, 2010 8:29am Mar 31, 2010 8:29am
Quoting OvT
still ranging, 91365 strong, plus fib 38.2 is 9133
I don't mean to be a drag on the bear party here but I am getting more and more bullish on this pair as the candles close. hmmm
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,678
  • Mar 31, 2010 8:30am Mar 31, 2010 8:30am
Quoting Saxon
Hey Golden,
No worries. My friend sent me this a while back. It is basic S/R and it will help to get you off to a good start. S/R, Trend Lines, Fibs, Volumes and a few simple indicators are all I use. After you read this and if you like it, shoot me a message and I will send some more stuff you way to help you develop your own trading style.

I think the attached was posted a while back by some guys on FF. It gets cheezy at parts, but it is some good stuff. Hope you like it

Thanks Saxon. I'll read it this weekend. Appreciate the guidance.
Let's see how this aud play out tonight.
  • #20,679
  • Mar 31, 2010 8:32am Mar 31, 2010 8:32am
H4 does seem like it wants to go up, bounced right off 40ma
hmmm
  • #20,680
  • Mar 31, 2010 9:25am Mar 31, 2010 9:25am
Sitting at 50% fib retrace of move down, watching area closely, I too am not convinced on the bear side.
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