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Indicator Free Trading - Skunny

  • #6,561
  • Edited 10:33am Apr 22, 2010 10:18am | Edited 10:33am
Oh Fudge........

A small pierce to the upside, but can you really trust the data with it being that small?

No more shorts for me.

EDIT: Never mind about he pierce, it's to the pip. But the inner fibs are showing support so I'm only looking for longs.
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  • #6,562
  • Apr 22, 2010 10:37am Apr 22, 2010 10:37am
Hmmmm.
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  • #6,563
  • Apr 22, 2010 10:54am Apr 22, 2010 10:54am
Quoting bartstop
Hmmmm.
I think all the time the EUR is getting clobbered the AUD will get dragged down with it. I do like the EY chart though, try it on a 4H.

The Limey.
Keep smiling
  • #6,564
  • Apr 22, 2010 10:57am Apr 22, 2010 10:57am
A note of caution, this would appear to be a major support here, look to the left on your chart. If we break this low I dont see any support until 122.96, the fib forecasts 122. I might give it a try given the latest Greek crap.

The Redcoat.
Keep smiling
  • #6,565
  • Apr 22, 2010 11:23am Apr 22, 2010 11:23am
Quoting Misterdaz
A note of caution, this would appear to be a major support here, look to the left on your chart. If we break this low I dont see any support until 122.96, the fib forecasts 122. I might give it a try given the latest Greek crap.

The Redcoat.
Too much respect not to go to target.

I'm going to try picking my nose, seems to help.



The Angy Yank
  • #6,566
  • Apr 22, 2010 11:27am Apr 22, 2010 11:27am
Not that anyone gives a F...........
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  • #6,567
  • Apr 22, 2010 1:18pm Apr 22, 2010 1:18pm
Quoting rotteraa
I am a new trader and am finding my feet. I am having trouble controling my entry points and I feel I am to eager to get into the market. Then when I jump the gun and enter to late I panic and close my possition.

Looking at the charts for AUDUSD I see some very minor resitance around 9270. I am thinking of shorting at current levels (9255/60) with my stop at 9275 and target at 9210.

My reasoning for this is the negative outlook for the day. I dont see any strength in the AUD in the short term and nothing to push it back towards 9300.

Even...
Longer term looking at monthly of 96 ish. but it has been whipping around since that was signalled in oct of last year. so as always follow price. Chart is kind of a mess a fun semi gambly short(because of stop placement) would be a stop at 9294 with a target of 9212. It is a 62 pierce to 50 reverse. there is risk but nominal. you''l hit traffic at 9260ish.

TK

Cheers
  • #6,568
  • Apr 22, 2010 1:22pm Apr 22, 2010 1:22pm
Also hope you blokes are good and finding what works for you.

TK
  • #6,569
  • Apr 22, 2010 1:50pm Apr 22, 2010 1:50pm
Quoting ThomKnight
Also hope you blokes are good and finding what works for you.

TK
TK, glad to see you back. How's life been treating you?


Bartstop
  • #6,570
  • Apr 22, 2010 2:50pm Apr 22, 2010 2:50pm
Quoting Misterdaz
I think all the time the EUR is getting clobbered the AUD will get dragged down with it. I do like the EY chart though, try it on a 4H.

The Limey.
Hey Md, Aud and EUR are no longer following their high correlation.

In Australia the economy is booming (especially the housing sector).

The reserve bank is talking about lots of interest rate rises coming this year, which only means one thing - a higher AUD.

I have not been looking at any shorts on AUD from last month.
All movement is likely to be to the long term upside target being 0.9842 from 16/7/2008. Any shorts will be countertrend and risky.

I believe parity with USD is only a matter of when, not if.
  • #6,571
  • Apr 22, 2010 3:24pm Apr 22, 2010 3:24pm
Ended up moving my target to 9230 and took a sweet 26 pips. "lucky" given it bottomed out at 9226 before the rally.
  • #6,572
  • Apr 22, 2010 3:37pm Apr 22, 2010 3:37pm
Quoting FX Compass
Hey Md, Aud and EUR are no longer following their high correlation.

In Australia the economy is booming (especially the housing sector).

The reserve bank is talking about lots of interest rate rises coming this year, which only means one thing - a higher AUD.

I have not been looking at any shorts on AUD from last month.
All movement is likely to be to the long term upside target being 0.9842 from 16/7/2008. Any shorts will be countertrend and risky.

I believe parity with USD is only a matter of when, not if.
Ok, I am bullish Aud, your economy has fared the best of all the Anglo Countries. I must admit I have not noticed the disconection of late but today there was a major risk off event going on over Greece, their bond yield spreads were widening rapidly and the usd was being sought certainly against the eur as you would expect.

I think the Aud got dragged down, today anyway, in that crap.

How you doing anyway?
Keep smiling
  • #6,573
  • Apr 22, 2010 3:49pm Apr 22, 2010 3:49pm
Quoting ThomKnight
Also hope you blokes are good and finding what works for you.

TK
Thom, I trust you are well. That was a long vacation, I hope you enjoyed yourself.

I think a few of us have many questions for you but I for one don't know where to start and also don't want to bombard you as soon as you walk in the door. There is a certain setup that has been working very well for me, I'm sure I've used it in a few charts recently but I'm still trying to fathom out others.

Welcome back anyway.

MD.
Keep smiling
  • #6,574
  • Apr 22, 2010 4:03pm Apr 22, 2010 4:03pm
Quoting rotteraa
Ended up moving my target to 9230 and took a sweet 26 pips. "lucky" given it bottomed out at 9226 before the rally.
Hey, great trade. You don't need my help or hinderance by the look of it. Compass is right about your economy, it is heating. You did well to counter trend it. I prefer to trade cable, eurusd or one of the yen crosses.

Good luck.

MD.

PS. Compass, I'm gonna have to get that sheep back!
Keep smiling
  • #6,575
  • Apr 22, 2010 4:13pm Apr 22, 2010 4:13pm
uh sure mate if i can answer em, I will! no worries! also... when you think about it... a lot of "pros" only use one set up. You never need more, but that is old hat. I knew a gent that wouldmaybe take one or 2 trades a month because that is all he could find.He did a bang up job, but to be fair was heavily capitalized so patience wasn't a real issue.
TK
  • #6,576
  • Apr 22, 2010 4:38pm Apr 22, 2010 4:38pm
Any of you gents hopping on the northbound GY express?

TK
  • #6,577
  • Apr 22, 2010 4:39pm Apr 22, 2010 4:39pm
Quoting ThomKnight
uh sure mate if i can answer em, I will! no worries! also... when you think about it... a lot of "pros" only use one set up. You never need more, but that is old hat. I knew a gent that wouldmaybe take one or 2 trades a month because that is all he could find.He did a bang up job, but to be fair was heavily capitalized so patience wasn't a real issue.
TK
True, and the one setup I have used has rewarded me well to date. Certainly if I traded my own account it would be all I need (I'm close to opening my own account now). Being on a desk means I have been looking for more options plus I am naturally inquisitve. I'll leave you with one question for now. Could you give us an example of 138 fibbing?

I'll have a chat with those that are keen and maybe we can put our heads together and come up with some sensible questions. If that is ok with you of course?

MD.
Keep smiling
  • #6,578
  • Edited 5:06pm Apr 22, 2010 4:42pm | Edited 5:06pm
Quoting ThomKnight
Any of you gents hopping on the northbound GY express?

TK
I'm on Southbond EY. Now your're gonna tell me my ticket is not valid. Lol.
Keep smiling
  • #6,579
  • Apr 22, 2010 4:46pm Apr 22, 2010 4:46pm
Quoting Misterdaz
True, and the one setup I have used has rewarded me well to date. Certainly if I traded my own account it would be all I need (I'm close to opening my own account now). Being on a desk means I have been looking for more options plus I am naturally inquisitve. I'll leave you with one question for now. Could you give us an example of 138 fibbing?

I'll have a chat with those that are keen and maybe we can put our heads together and come up with some sensible questions. If that is ok with you of course?

MD.
always... 138 fibbing? you mean using the tp as the starting point for the fib?

TK
  • #6,580
  • Apr 22, 2010 5:10pm Apr 22, 2010 5:10pm
Quoting ThomKnight
Any of you gents hopping on the northbound GY express?

TK
I was waiting until the break of the blue fib. Am I missing a smaller one?
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