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AUD/USD

  • #36,801
  • Dec 1, 2011 12:15am Dec 1, 2011 12:15am
Quoting pipraiser
Here's my take on it, you drew your trendlines on the 1hr, 4hr chart for that particular day. 1hr chart = 24 different candles, 4 hr char = 6 different candles. But you have to remember the trendlines that you draw apply to the 24 candles (1hr) and 6 candles (4hr). However, the day candle is just 1 single candle. Thus there can't be a trendline on the single candle. Hence all trend lines drawn on the particular day for whichever timeframe will always show as a vertical line on the day chart. Hope that makes sense! =)
Thanks for clarifying that pipraiser, it's sometimes embarrassing how poorly the technical side of my brain works, but sometimes I surprise myself also
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  • #36,802
  • Dec 1, 2011 12:20am Dec 1, 2011 12:20am
Quoting benjamf13
mine is the opposite - thats why I'm short to the retrace. My platform is showing resistance on the Daily 200EMA???

whats the go here!?
Uh ha!! It seems to me, you have yours set to (high), (see magenta line), mine is set to (close), another friggin' thing to watch I guess. I might put high, low and close on my charts for a clearer picture. Thanks for that, gives me more confidence about my short.
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  • #36,803
  • Dec 1, 2011 12:24am Dec 1, 2011 12:24am
Gone for most of the evening now to do a massage and spend time with my wife. have fun and here's to pips.
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  • #36,804
  • Dec 1, 2011 12:32am Dec 1, 2011 12:32am
If any Aussies in Sydney want a massage, send me a PM, $100/hour, I'll come to your home
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  • #36,805
  • Dec 1, 2011 12:36am Dec 1, 2011 12:36am
Quoting Ill-b-back
If any Aussies in Sydney want a massage, send me a PM, $100/hour, I'll come to your home
does it include TA's training?
  • #36,806
  • Dec 1, 2011 1:02am Dec 1, 2011 1:02am
Quoting redsword11
Attachment

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early reaction to S&P supply


out most
  • #36,807
  • Dec 1, 2011 1:04am Dec 1, 2011 1:04am
Quoting Ill-b-back
Uh ha!! It seems to me, you have yours set to (high), (see magenta line), mine is set to (close), another friggin' thing to watch I guess. I might put high, low and close on my charts for a clearer picture. Thanks for that, gives me more confidence about my short.
nope, just checked my settings, mine is set to close too.
  • #36,808
  • Dec 1, 2011 1:10am Dec 1, 2011 1:10am
im flat right now; however, if i remember that trade; i did the following:

note: i have a small trading account and trade mini lots (10k lots or 1 dollar per pip lots)


i went in 1 lot at 1.00
i went in 2 lots at .9965

all with a stop loss at .9950

my logic behind this trading strategy is:

as long as i am right on the over all direction; i can make up my losses if the market goes against me and if it doesnt i still make pips.



Quoting pipraiser
Hi Ill-b-back,

I've been following your analysis on the AUD/USD and learning how you trade. Its a very effective strategy that you have. Thanks so much for sharing. Btw, you say that you are 2 longs at 1.0960. I just wanted to know if thats a typo error. Did you mean 2 longs, one at 1.000 and one at 0.960? Thanks!
  • #36,809
  • Dec 1, 2011 1:24am Dec 1, 2011 1:24am
With this move up to 1.0300 from the last gap /monday @ 0.98 (500 pips) , i think some will learn that trade based on the assumption gap will be filled is sometimes not worthed..
  • #36,810
  • Dec 1, 2011 1:55am Dec 1, 2011 1:55am
Sold at 1.0290 looking for .98
  • #36,811
  • Dec 1, 2011 2:02am Dec 1, 2011 2:02am
Quoting andri66
With this move up to 1.0300 from the last gap /monday @ 0.98 (500 pips) , i think some will learn that trade based on the assumption gap will be filled is sometimes not worthed..
in theory there are many kinds of gaps..
breakaway gaps will not be filled.

The problem is how do you know that this one is breakway gap, common grap, or exhaustion gap?
  • #36,812
  • Dec 1, 2011 2:07am Dec 1, 2011 2:07am
Quoting Clouds
Sold at 1.0290 looking for .98
I'm with you on this one. I sold at 1.030 expecting a reversal after such a bullish move north.

Listening to bloomberg on TV, sounds like its all starting to unravelling again. I've got another short on at 1.018, hoping to get out of that one at the 61.8% retracement. Will see where we're at then, but i'm very much bear than bull.
  • #36,813
  • Dec 1, 2011 2:09am Dec 1, 2011 2:09am
Quoting benjamf13
I'm with you on this one. I sold at 1.030 expecting a reversal after such a bullish move north.

Listening to bloomberg on TV, sounds like its all starting to unravelling again. I've got another short on at 1.018, hoping to get out of that one at the 61.8% retracement. Will see where we're at then, but i'm very much bear than bull.
Earlier, I thought maybe we'll go to 1.0065 and possibly think about buying, but my gut says it's gonna go further, and that's what I must live by. We'll see, it's early, but in short-timer def. I holding my shorts.
  • #36,814
  • Dec 1, 2011 2:13am Dec 1, 2011 2:13am
Shorted here @ 1.0183, looking for a test of 1.0080 again
Expect the unexpected.
  • #36,815
  • Dec 1, 2011 2:18am Dec 1, 2011 2:18am
so im back, after 2 long weeks off. how are you all?

looks like i missed two biggish moves in my time off. i did get in pretty late to fade yesterdays rally, holding shorts at the moment
  • #36,816
  • Dec 1, 2011 2:45am Dec 1, 2011 2:45am
Quoting fx-rocket
Shorted here @ 1.0183, looking for a test of 1.0080 again
What are your thoughts that if that is broken, then the next support could be the 200EMA 1H at around the 0.9975 marker (obviously would move higher as time goes by)
  • #36,817
  • Dec 1, 2011 4:06am Dec 1, 2011 4:06am
Closed all shorts for total 120 pips. Still expecting to go down to meet trendline but may not happen until the green 55 ema is at the 50% retrace which is the usual retracement level for long bull candles, so have moved my buy order to 1.0142
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  • #36,818
  • Dec 1, 2011 4:12am Dec 1, 2011 4:12am
Actually canceling my longs, strong resistance. probably take rest of week off until trendlines become clear with the next move. Quitting while very much ahead.
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  • #36,819
  • Dec 1, 2011 4:23am Dec 1, 2011 4:23am
Looks like a great place to short for sure. Right on 61.8 retrace to the pip and daily 200ema and trendline. worth a sell now or at a break of the lower 4 hr trend line.
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  • #36,820
  • Dec 1, 2011 4:26am Dec 1, 2011 4:26am
Note, daily bar closed below 76.4 retrace before going back up. Hints that we have further to fall soon.
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