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AUD/USD

  • #37,761
  • Dec 14, 2011 10:40pm Dec 14, 2011 10:40pm
Quoting mpurdy1973
any feedback on this strategy?

1) short 1 lot now with a 100 pip stop;
2) short 2 limit order at 50 pips north with the same stop
3) short 4 limit orders at 85 pips north with the same stop

risking at most (260 pips => 1*100 + 2*50 + 4*15) with a target of 9700-9500
This is what i am guessing might happen

From, here it will go to .9840, and that will be 60 min wave 3, after when it retraces from there to form wave 4, it will be get to atleast .9985.

If it does that, you will be very close or even stopped out of your trades.

The worst thing is that, after that , it will go right down to your target level .9700/.9500 area....

I might be wrong, l would like to see other fellow aussie traders think on this
PPP - Patience Pays PIPS
  • #37,762
  • Dec 14, 2011 10:41pm Dec 14, 2011 10:41pm
thanx for input

Quoting Chillypiper
Dude, you heard off sell the rallys .9900 @ even is how I do it. If shes a runner good! if not no loss..Big news tomorrow..Why risk your money?
  • #37,763
  • Dec 14, 2011 10:43pm Dec 14, 2011 10:43pm
i scalped some pips off aud and closed the position short. my system said short as resistance was rejected

i always wait for some kind of confirmed clue or rejection, otherwise i dont go in

30min for 5 pips
  • #37,764
  • Dec 14, 2011 10:52pm Dec 14, 2011 10:52pm
Quoting rustyram
This is what i am guessing might happen

From, here it will go to .9840, and that will be 60 min wave 3, after when it retraces from there to form wave 4, it will be get to atleast .9985.

If it does that, you will be very close or even stopped out of your trades.

The worst thing is that, after that , it will go right down to your target level .9700/.9500 area....

I might be wrong, l would like to see other fellow aussie traders think on this
Tonight is a HUGE night for news, so many economic announcements.

I think there are only three ways out of this.
1) we're all going to be in for a night of whipsawing,
2) night of rally OR
3) the night of the death of europe, with the bulls being gored by the grizzly bears if the business barons all see a recession coming hard and fast!
  • #37,765
  • Dec 14, 2011 11:15pm Dec 14, 2011 11:15pm
Quoting Halba
i scalped some pips off aud and closed the position short. my system said short as resistance was rejected

i always wait for some kind of confirmed clue or rejection, otherwise i dont go in

30min for 5 pips
Me too. Scalped a few times, but no longer than 15M. It feels quiet there in the market
The tone of your words reflects the quality and result of your trading ;-)
  • #37,766
  • Edited 11:35pm Dec 14, 2011 11:16pm | Edited 11:35pm
Morning still ok for next level 0.9780 hit & more , signal ok & so another crush expecting , gu,eu also & usdx bull continue today before a good bounce .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #37,767
  • Dec 14, 2011 11:46pm Dec 14, 2011 11:46pm
Bounce off 0.985??
Enter Signature
  • #37,768
  • Dec 15, 2011 12:06am Dec 15, 2011 12:06am
Quoting ChipsnPips
Bounce off 0.985??
may be or 0.9831-0.9800 areas , daily sr there I see .frankie , London open to work some .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #37,769
  • Dec 15, 2011 12:18am Dec 15, 2011 12:18am
Quoting fontu
may be or 0.9831-0.9800 areas , daily sr there I see .frankie , London open to work some .
fontu
I've been short since 1.016 and got an accumulative 900 odd pips. Think this bounce may be a descent 150pip rally. Just dont like going against the trend usually :-(

Risky risky, lets see what happens in 3hrs
Enter Signature
  • #37,770
  • Dec 15, 2011 12:30am Dec 15, 2011 12:30am
it made its range in a few brisk movements. funny mkt this. now it has defended the 9860 level. interesting stop hunt

eur/usd continuing its tight 1-3 pip range
  • #37,771
  • Dec 15, 2011 12:31am Dec 15, 2011 12:31am
Quoting ChipsnPips
I've been short since 1.016 and got an accumulative 900 odd pips. Think this bounce may be a descent 150pip rally. Just dont like going against the trend usually :-(

Risky risky, lets see what happens in 3hrs
What's an accumulative 900 pips? From 1.016 is not 900 pips.
  • #37,772
  • Dec 15, 2011 12:34am Dec 15, 2011 12:34am
Quoting ChipsnPips
I've been short since 1.016 and got an accumulative 900 odd pips. Think this bounce may be a descent 150pip rally. Just dont like going against the trend usually :-(

Risky risky, lets see what happens in 3hrs
Ok , can play conservative as I sometimes do , short at any high & and at the same time close at any low also .
this bounce can be as high as .09920-32 at best if to do soon , wave 2 of 5th down .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #37,773
  • Dec 15, 2011 12:36am Dec 15, 2011 12:36am
Quoting 2+2=4ex
What's an accumulative 900 pips? From 1.016 is not 900 pips.
I got 160pip drop, 10 trades at different entry levels. ie accumulative.
Enter Signature
  • #37,774
  • Dec 15, 2011 12:48am Dec 15, 2011 12:48am
Quoting ChipsnPips
I got 160pip drop, 10 trades at different entry levels. ie accumulative.
That's very misleading. It should be stated that you have an average position of 10 lots at +160, for example. Or list a breakdown of each trade, but to say 900 pips accumulative is misleading.
  • #37,775
  • Dec 15, 2011 12:49am Dec 15, 2011 12:49am
Yeah , pip is pip used for how many lots or set of lots /trades be used all remain the same , just values changes .many define pips defferently .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #37,776
  • Dec 15, 2011 1:02am Dec 15, 2011 1:02am
Quoting 2+2=4ex
That's very misleading. It should be stated that you have an average position of 10 lots at +160, for example. Or list a breakdown of each trade, but to say 900 pips is misleading.
I'll remember that next time

I was really just stating that I had a good run down and after a good short I'm nervous about going long.

Basically if I place 10 mini contracts at once and make 160pips I say I made 160 pips. But if I buy in at different stages for 1mini lot each time with different SL,TP and/or trade method I say I made an accumulative amount of "X" pips. Anywho....

Back to AUDUSD, I think I'll wait and go short if it reaches 0.9945 and my strength indicator shows weakness in the AUD and strength in USD or if it just breaks below 0.985
Enter Signature
  • #37,777
  • Dec 15, 2011 1:33am Dec 15, 2011 1:33am
I once followed a Forex Guru back in 2007.
He would take a 1 Standard Lot ($10 a pip) trade.

Once the trade goes in his direction, he would take partial profit every 10~20 pips move.
TP1, he would claim making 20 pips (+20pips x $5 a pip = +$100)
TP2, he would claim making another 40 pips (+40pips x $5 a pip = $200)
And he would brag that he made a 60 pips move but never telling the USD value of the trade.
But once it goes against him, he would take a loss at 40 pips and claim he lost only 40 pips ($400).

"We are risking only 40 pips, but making 60 pips..."

Difference is: His profit is lower than the loss.

I agree with 2+2=4x in his pips computation. It is mathematically correct.

I personally make multiple positions on a single pair and use an EA that places the same SL and TP for the whole bunch based on averaged entry price. They got in at different levels, all get out at the same price.
  • #37,778
  • Dec 15, 2011 1:41am Dec 15, 2011 1:41am
Quoting ChipsnPips
I'll remember that next time
Okay, don't forget. I'm just messing around.

Quoting ChipsnPips
I was really just stating that I had a good run down and after a good short I'm nervous about going long.
Nice job.
  • #37,779
  • Dec 15, 2011 1:43am Dec 15, 2011 1:43am
Rally underway brought about by the rejection at 0.9860

hourly candle showing bullish engulfing. how far will this bounce?

im waiting to short more.

stops 0.9980
  • #37,780
  • Dec 15, 2011 2:40am Dec 15, 2011 2:40am
Quoting ragnakore
Rally underway brought about by the rejection at 0.9860

hourly candle showing bullish engulfing. how far will this bounce?

im waiting to short more.

stops 0.9980
is 0.9940 a good place to sell?
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