two short,tight stop
Biggest joker
- #28,843
- Mar 16, 2011 3:31am Mar 16, 2011 3:31am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
- #28,846
- Mar 16, 2011 4:26am Mar 16, 2011 4:26am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
Nice timing to take my pips off the table yesterday, considering the amount i had per pip per £!...now looking to get back in.
I have already chopped my entry from 1.0225..then 1.0150..and now i have reduced it to 1.0017!
Hope i get this taken out before it starts the official leg down
hi mate, thinking about parity soon? maybe this week?
Logics do not apply in FOREX
hi mate, thinking about parity soon? maybe this week?
Maybe an outside chance it goes to parity again, which is why i have a batch of shorts at 1.0017, just incase
No doubt A$ is getting weaker...its a matter of timing, so the leg down towards 0.8900 brings sufficient reward
Good luck whatever your direction
- #28,854
- Mar 16, 2011 9:58am Mar 16, 2011 9:58am
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.
- #28,855
- Mar 16, 2011 11:56am Mar 16, 2011 11:56am
Get your point Jez, but yesterdays move was one of several thats blessed his pair. Hence what i made yesterday, and the last time too, which if you look i closed and topped up before closing out most yesterday again...means that overall its about closing on good opportunities, taking the reddies and then rejoining the party!..that is what i have done several times
As far as one price to another goes..NO ONE can predict the time it takes, or can predict perfect TIMING..thats a fact. Hence, i'm happy to get in at a given price on a thought out plan...then play the market as that plan is working its way through!
For the record,it seems to be working its way nicely down towards that 0.8900 target area, as weakness is self evident..that is for those who are not on "Confirmation Bias"!
--------------------------------------------
How to Lose 2 Million Dollars Through Confirmation Bias
March 5th, 2011
"Of all the potential pitfalls and sins of investing, one of the most dangerous for an investor to fall victim to is confirmation bias."
http://www.robertsinn.com/2011/03/05...irmation-bias/
As far as one price to another goes..NO ONE can predict the time it takes, or can predict perfect TIMING..thats a fact. Hence, i'm happy to get in at a given price on a thought out plan...then play the market as that plan is working its way through!
For the record,it seems to be working its way nicely down towards that 0.8900 target area, as weakness is self evident..that is for those who are not on "Confirmation Bias"!
--------------------------------------------
How to Lose 2 Million Dollars Through Confirmation Bias
March 5th, 2011
"Of all the potential pitfalls and sins of investing, one of the most dangerous for an investor to fall victim to is confirmation bias."
http://www.robertsinn.com/2011/03/05...irmation-bias/
- #28,856
- Mar 16, 2011 12:00pm Mar 16, 2011 12:00pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
Get your point Jez, but yesterdays move was one of several thats blessed his pair. Hence what i made yesterday, and the last time too, which if you look i closed and topped up before closing out most yesterday again...means that overall its about closing on good opportunities, taking the reddies and then rejoining the party!..that is what i have done several times
As far as one price to another goes..NO ONE can predict the time it takes, or can predict perfect TIMING..thats a fact. Hence, i'm happy to get in at a given price on a thought out...
You can remain irrational longer than you can remain solvent.
Great trading ayra
I am hoping for a little bounce, but it seems too weak!
Forex: AUD/USD reaches 0.9826 daily low
Wed, Mar 16 2011
Australian dollar continues falling as Wall Street turns into deep red, with DJIA down mover 110 points today and S&P losing 1.31%. US disappointing housing data along with nuclear risk increasing in Japan, keep investors in the search of safe havens, with AUD/USD nearing weekly low set past Tuesday at 0.9814.
James Chen from FX Solutions says that the cross “has dropped down to approach its key support target in the 0.9800 price region before rebounding. This occurs on a breakdown below a triangle consolidation pattern extending from the long-term 1.0250 high reached at the end of 2010, as well as a breakdown below parity”. He also adds that mentioned 0.9800 area, is “also a 61.8% Fibonacci retracement of the last major bullish trend run. In the event of a further breakdown below 0.9800, price could potentially drop further to begin targeting key downside support in the 0.9540 price region”.
I am hoping for a little bounce, but it seems too weak!
Forex: AUD/USD reaches 0.9826 daily low
Wed, Mar 16 2011
Australian dollar continues falling as Wall Street turns into deep red, with DJIA down mover 110 points today and S&P losing 1.31%. US disappointing housing data along with nuclear risk increasing in Japan, keep investors in the search of safe havens, with AUD/USD nearing weekly low set past Tuesday at 0.9814.
James Chen from FX Solutions says that the cross “has dropped down to approach its key support target in the 0.9800 price region before rebounding. This occurs on a breakdown below a triangle consolidation pattern extending from the long-term 1.0250 high reached at the end of 2010, as well as a breakdown below parity”. He also adds that mentioned 0.9800 area, is “also a 61.8% Fibonacci retracement of the last major bullish trend run. In the event of a further breakdown below 0.9800, price could potentially drop further to begin targeting key downside support in the 0.9540 price region”.