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Nearly Naked (Simple Trades)

  • #2,541
  • Jun 1, 2010 12:37pm Jun 1, 2010 12:37pm
The 4hr is looking increasingly bearish. If it closes below 111.7 (and is a shooting star/Dark cloud formation), I would think it will go lower and target 109. The weekly and daily look bearish to me, so this trade would be with the trend.

4H Chart attached. The green is the uptrend and the yellow is the downtrend. (i am amazed at how perfectly they align with the fibs). If it breaks 111.23, I would probably add.

As usual, waiting for the close.

Attached Image (click to enlarge)
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  • #2,542
  • Jun 1, 2010 12:38pm Jun 1, 2010 12:38pm
Quoting Saxon
No worries. Trading like that will make you go bald

[color=#211600]For AU I have like 5 places where I will be looking to trade. So for me, weekly piv has been sloshed around too much for me to take any trades on that. Confluence of LTL and "00" would be a potential good place too look. Tests of UTL would be a place, but not too confident on it. Low of 8069 is a good place. "00" 82 would be one too. On the upside, I would look at Monthly Piv for a potential trade. Fib 50 and Fib 61.8 might be good as well. So I don't...

Here is a good visual, just placing where I will be watching PA for a potential trade
Attached Image (click to enlarge)
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  • #2,543
  • Jun 1, 2010 12:41pm Jun 1, 2010 12:41pm
Quoting aragorn123
The 4hr is looking increasingly bearish. If it closes below 111.7 (and is a shooting star/Dark cloud formation), I would think it will go lower and target 109. The weekly and daily look bearish to me, so this trade would be with the trend.

4H Chart attached. The green is the uptrend and the yellow is the downtrend. (i am amazed at how perfectly they align with the fibs). If it breaks 111.23, I would probably add.

As usual, waiting for the close.

Attachment
Good stuff, I keep wanting to move to some crosses but keep getting dragged back to my usual pairs. With all your green pips on crosses, I am getting tempted to add a few
  • #2,544
  • Jun 1, 2010 12:51pm Jun 1, 2010 12:51pm
Quoting Saxon
Good stuff, I keep wanting to move to some crosses but keep getting dragged back to my usual pairs. With all your green pips on crosses, I am getting tempted to add a few


yup, crosses have been working out for me for a while <wood touch>. I closed a EJ short yesterday in green before it turned up again. Have been waiting for a short since then.

Btw, if you are looking at crosses, I suggest CJ as well. I think it is setting up for a nice short.

My only hesitation is the NFP this week. A good number will push UJ and in turn all crosses. That is far away for now, so want to bank the pips before that.
  • #2,545
  • Jun 1, 2010 12:53pm Jun 1, 2010 12:53pm
Quoting Saxon
No worries. Trading like that will make you go bald
I'm almost bald anyways. Waiting for my little sis (doctor) to start cloning my hair follicles. I keep telling her that it's her golden ticket to be the first to offer such a service!

Looks as though A/U is getting ready to drop due to the lower Bollinger Band opening.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 118 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,546
  • Jun 1, 2010 12:57pm Jun 1, 2010 12:57pm
Quoting MarcVUM
I'm almost bald anyways. Waiting for my little sis (doctor) to start cloning my hair follicles. I keep telling her that it's her golden ticket to be the first to offer such a service!

Looks as though A/U is getting ready to drop due to the lower Bollinger Band opening.
Another view on the same - It is putting in a bearish engulfing pattern right below an important fib as well. If it closes there, then it will go lower I think.

It still has to break 0.8307 ..if it does then I think it should reach 0.8168 and then we should see some retrace.

Edit: Again, waiting for the close
  • #2,547
  • Jun 1, 2010 12:57pm Jun 1, 2010 12:57pm
Quoting MarcVUM
I'm almost bald anyways. Waiting for my little sis (doctor) to start cloning my hair follicles. I keep telling her that it's her golden ticket to be the first to offer such a service!

Looks as though A/U is getting ready to drop due to the lower Bollinger Band opening.
I am really hoping that AU lands in the purple square. The confluence will be stronger than just the LTL. I too feel that AU will fall sometime soon.
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  • #2,548
  • Jun 1, 2010 1:18pm Jun 1, 2010 1:18pm
Can't believe I didn't see this. HS?
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  • #2,549
  • Jun 1, 2010 2:37pm Jun 1, 2010 2:37pm
Shorted EJ at 111.29 ..lets see how low it goes ...

EU seems to be hanging on for dear life ...would take one push to break those 1.21s.

I closed my Aussie shorts btw. Saxon, Marc, what about you guys?
  • #2,550
  • Jun 1, 2010 2:42pm Jun 1, 2010 2:42pm
Quoting aragorn123
Shorted EJ at 111.29 ..lets see how low it goes ...

EU seems to be hanging on for dear life ...would take one push to break those 1.21s.

I closed my Aussie shorts btw. Saxon, Marc, what about you guys?
No AU postios.
Short GU for +57
Short EU for +37
Short UJ for +6

UJ I am watching closely
  • #2,551
  • Jun 1, 2010 2:44pm Jun 1, 2010 2:44pm
Quoting Saxon
No AU postios.
Short GU for +57
Short EU for +37
Short UJ for +6

UJ I am watching closely
Here are the charts
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  • #2,552
  • Jun 1, 2010 5:24pm Jun 1, 2010 5:24pm
Short taken on A/U at 8337 for TP of 8237 then 8180.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,553
  • Jun 1, 2010 5:48pm Jun 1, 2010 5:48pm
Quoting Saxon
You should be up about 30 pips now
Thanks!
Am trying Amyc's method of setting the trade up with a sensible stop and TP and then just letting it run: it's much easier on the hyperthalamus
  • #2,554
  • Jun 1, 2010 5:50pm Jun 1, 2010 5:50pm
Quoting MarcVUM
Short taken on A/U at 8337 for TP of 8237 then 8180.
That was a level I was interested in as well but the volatility is a bit much for me today and GDP figures in 45 mins. I'm thinking of standing aside in aud for the rest of the week unless it moves up to 86.
  • #2,555
  • Jun 1, 2010 6:02pm Jun 1, 2010 6:02pm
Quoting amyc
That was a level I was interested in as well but the volatility is a bit much for me today and GDP figures in 45 mins. I'm thinking of standing aside in aud for the rest of the week unless it moves up to 86.
I am staying out at least until data
  • #2,556
  • Jun 1, 2010 6:05pm Jun 1, 2010 6:05pm
Quoting HotChick
Thanks!
Am trying Amyc's method of setting the trade up with a sensible stop and TP and then just letting it run: it's much easier on the hyperthalamus
That's the best way to go, set it and forget it
  • #2,557
  • Jun 1, 2010 6:23pm Jun 1, 2010 6:23pm
AU data soon, woot woot
  • #2,558
  • Jun 1, 2010 6:34pm Jun 1, 2010 6:34pm
Quoting MarcVUM
Short taken on A/U at 8337 for TP of 8237 then 8180.
Ha ha. That wasn't good!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,559
  • Jun 1, 2010 6:35pm Jun 1, 2010 6:35pm
I can't wait to hear the explanation as to why PA went up on not so good news.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,560
  • Jun 1, 2010 6:36pm Jun 1, 2010 6:36pm
What't up with this rally on bad AU data?
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