Hi and thanks.
82.30 would be the breakout price yes, but I like to get in early so was thinking the break /close above of the down trendline i've drawn could be valid or how do you feel about entries on near the third tap with a tight stop?
Cheers
Trade What You See - Almost Naked Trading
- #8,562
- Jan 5, 2011 3:33am Jan 5, 2011 3:33am
Good point geula...I'm concerned that both AUD pairs are so near parity...lets observe how it plays out first
- #8,563
- Edited 3:48am Jan 5, 2011 3:37am | Edited 3:48am
USDCAD good for BO ????
Now we are around 1.000 level and we can see the 1H candles going up-down, so IMHO not good PA.
I'd like to see full body candles, with small or no wicks, going in one direction.
Love to hear what others think about this trade idea! Thank you!
Good point geula...I'm concerned that both AUD pairs are so near parity...lets observe how it plays out first
Perhaps we can channel trade these pairs?
IMHO, if price goes up to around 1.0015-20 area perhaps it's likely to go back down towards 1.000 area?
Love to hear your opinion, and also everyone else's. thank you!
- #8,566
- Jan 5, 2011 4:15am Jan 5, 2011 4:15am
Hi Natnimrey,
Perhaps we can channel trade these pairs?
IMHO, if price goes up to around 1.0015-20 area perhaps it's likely to go back down towards 1.000 area?
Love to hear your opinion, and also everyone else's. thank you!
LFB, that was a great chart u put up...clearly shows the 3 taps on 1H...
I'm afraid I have very little experience in channel trading...you're the expert here. Do we only take channel trades in the direction of the RSI?
LFB, that was a great chart u put up...clearly shows the 3 taps on 1H...
Just trying to learn LG's system and how to trade better, like everyone else here.
IMHO, perhaps we can try to channel trade AUDUSD.
I like this pair better than AUDCAD because of the lower spread.
IMHO, if we look at the recent 1H candles, we can clearly see a down movement in a channel. If we connect the candles' highs and lows we get the channel.
For example: last 1H candle's high is about 1.0022 and low about 0.9995.
We can try to sell at the channel high (resistance) with a TP at the channel's low. That's a nice 25 pips!
Of cource, we will sell, because the trend and RSIs are down.
PA is almost stalled now, it will have to do one way or the other soon.
What is your point of view geula4 ?
The reason i'm not sure about PA: there is a very big 1H green (bullish) candle that went from below the support to above the resistance. That was 4 hours ago. :nerd:
So, I'm not sure what PA is doing here: is it a consolidation or a correction?
In any case, IMHO please look for a clear BO and good PA.
I think things are a little murky atm..
Thanks for the compliment, but I'm no expert.
Just trying to learn LG's system and how to trade better, like everyone else here.
IMHO, perhaps we can try to channel trade AUDUSD.
I like this pair better than AUDCAD because of the lower spread.
IMHO, if we look at the recent 1H candles, we can clearly see a down movement in a channel. If we connect the candles' highs and lows we get the channel.
For example: last 1H candle's high is about 1.0022 and low about 0.9995.
We can try to sell at the channel high (resistance) with a TP at the channel's...
Price touches the red line and retrace back.
What do you think? Thank you!
Alrighty geula...think I'll go short on AUD/USD when it returns to 1.0020, hopefully snatch some 10+ pips
Btw, this looks like a 3 tap...does it?
Attachment
I agree! 1.0017-1.0020 is a good point to enter...
IMHO, I'll try sell at 1.0018 with SL 1.0028 and TP 0.9990.
I'm trying with a small 0.1 lot.
Let's see how it goes...
As always, just My Humble Opinion.
Please use your own judgment and trade safe!
I'm trying for an ambitious trade here.
My SL is just 10 pips away and TP is 30 pips.
This is a good 1:3 risk:reward ratio, but PA can turn back during the trade.
So, if we do enter this trade, please monitor PA carefully.
IMHO, it can be a good idea to take some profit at 1.000 (nice 18 pips)
or at least move SL to BE+ if and when the price goes our way...
- #8,577
- Jan 5, 2011 5:31am Jan 5, 2011 5:31am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
guela4,
EU has made its move (USD regain its strength). So, I m expecting UJ & UCAD will go up according to this situation. We should know the answer later today when US data is out.
What say you?
EU has made its move (USD regain its strength). So, I m expecting UJ & UCAD will go up according to this situation. We should know the answer later today when US data is out.
What say you?
guela4,
EU has made its move (USD regain its strength). So, I m expecting UJ & UCAD will go up according to this situation. We should know the answer later today when US data is out.
What say you?
Love to hear LG and other people's thoughts about this!
- #8,579
- Jan 5, 2011 5:40am Jan 5, 2011 5:40am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
guela4,
EU has made its move (USD regain its strength). So, I m expecting UJ & UCAD will go up according to this situation. We should know the answer later today when US data is out.
What say you?
