missed this...break of TL , retest and she goes...
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DislikedThanks...so S1 is daily support 1 and thus M2 is halfway between daily pivot and S1 and M1 halfway between S1 and S2?Ignored
Dislikedthats correct. After a previous down day ie closing lower than the open, the predicted high and strong resistence is M3 and the predicted low and strong support is M1 so the predicted trading range of the day is M1-M3. After a previous up day the range is from M2-M4 just use them like fibs to get confluence s/R to trade from
yes they do work better on some more than others as do fibs and trendlines but i wouldnt trade without them on anything. they wrk well on all the majors with Eur/Usd being maybe just a touch more predictable.
doesent really...Ignored
DislikedClosed AU @ 0.9339...think retrace is coming.
Went short CJ, UJ, AJ, [email protected], 93.51, 87.33, 144.21 - 1.5% risk on each. Will post charts and analysis laterIgnored
DislikedYeah AU trade worked out...but as you say there was a 'reaction' at that level....might get some volatility after economic news release.Ignored
DislikedAll three UC trades closed @ 0.9970 - counter trend trading can hurt!
CJ hit stop loss @ 93.59 - wanted to get out @ BE as it didnt take off but SL got hit first.
Therefore still in E/A, E/C, A/U, A/N, E/G
TAG (from oil trade last night until now) @ + 121.76% ...a tough week this week for sure.Ignored
DislikedThat's the toughest week in last 4 months LJ, and it came out as i started trading my live account.Ignored
DislikedMe again,
when I opened the A/U trade I got something like a 7 pips spread!! I am using IBFX.
Just as curiosity what was your spread?
ThanksIgnored
DislikedHi LJoy,
I also shorted A/U at 1.459, but DJ (equities) is going up and lately this has not a good effect on USD. I mean euro can get more strength.
I am in E/Cad too from 1.37 Monday PB, doing well so far.
I noticed providing the required confluence you are not intimidated by opening counter trades. Am I correct?
CheersIgnored
DislikedYes, there isd a correlation between risk appetite and USD strength...if risk appetite is good dow goes up and USD goes down...and the commodity currencies like AU (with high interest rate differential too) benefit the most...well thats a simplistic picture and its not 100% correlation.Ignored
DislikedIt definitely has been tough that's for sure...hopefully some yen strength will make for some winning trades...though without dow weakness I feel we weon't get a big move. Lots of choppyness this week, one trade I've got pending that looks a good setup is short oil @ 85.40.
It always seems the way doesn't it, risking real money and things start to change.Ignored
DislikedNothing lol...for some reason I didnt see that, need to slow down a bit at times and take closer look at things as I do miss some obvious setupsIgnored