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AUD/USD

  • #40,541
  • Feb 15, 2012 5:31pm Feb 15, 2012 5:31pm
Quoting Cruci
how about you go make me a sandwich
Do you want a $3000 dollar sandwich with 30 slices of cheese? Leverage of 1:500?

Oh, sorry your order was DECLINED. Credit Card said "NOT ENOUGH FUNDS : SEE BANK"
  • #40,542
  • Feb 15, 2012 5:32pm Feb 15, 2012 5:32pm
Quoting Cruci
i 100% agree, thats why pro traders say new traders should practice for 1 year just to get the basics down.Forex trading is a commitment like a relationship.
Yes practice your exact strategy to the TEE and sound MM priciples, what you are trying to do is just stupidity, you will refill your account with $3k multiple times without doubling once using your money management.

Takes atleast 3 years to develop those principles to overcome your greed. After that you learn to start small... if you stick with it your dreams will be achieved. If you give up... then maybe something better is in store for you.

Cheers,
Jag
  • #40,543
  • Feb 15, 2012 5:33pm Feb 15, 2012 5:33pm
Quoting muhdhafiz
Seems like there is a 2 right shoulder and the neckline for me is little bit out.
Sorry.
Btw good luck with your setup
Actually, you can have multiple shoulders on either side; oddly enough this is called a Multiple Head and Shoulders pattern. Usually comes in pairs but does NOT have to. In this case only one double top side.

And yes there is a perfectly sloped neckline but I don't get that pippy as if the pattern holds true, all will know when probable neckline breaks.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-02-15 at 7.28.32 PM.png Size: 28 KB
  • #40,544
  • Feb 15, 2012 5:40pm Feb 15, 2012 5:40pm
Quoting wagnermr14
Actually, you can have multiple shoulders on either side; oddly enough this is called a Multiple Head and Shoulders pattern. Usually comes in pairs but does NOT have to. In this case only one double top side.

And yes there is a perfectly sloped neckline but I don't get that pippy as if the pattern holds true, all will know when probable neckline breaks.
Attachment
Thx for sharing the info
This neckline looks better compare to the old one.
http://www.forexfactory.com/attachme...8&d=1329350626
RM
  • #40,545
  • Feb 15, 2012 5:42pm Feb 15, 2012 5:42pm
Quoting muhdhafiz
Seems like there is a 2 right shoulder and the neckline for me is little bit out.
Sorry.
Btw good luck with your setup
And yes, the neckline can be sloping.
Its OK. I know you're fairly new at trading. Learning is just part of it. Even if this pattern wasn't there I am still bearish on Aussie now for a slew of technical/macro economic reasons. I just threw this up while waiting for something to happen. And it did. Perfect 61fib retrace of today's decline after employment numbers to 10730. That's where I sold again.
  • #40,546
  • Feb 15, 2012 5:47pm Feb 15, 2012 5:47pm
Quoting Rokz
Do you want a $3000 dollar sandwich with 30 slices of cheese? Leverage of 1:500?

Oh, sorry your order was DECLINED. Credit Card said "NOT ENOUGH FUNDS : SEE BANK"
Cheese... No fat or to be no more than 2-5% risk of total capital it recomened......Good analogy Rok!
  • #40,547
  • Feb 15, 2012 5:47pm Feb 15, 2012 5:47pm
Quoting Rokz
Do you want a $3000 dollar sandwich with 30 slices of cheese? Leverage of 1:500?

Oh, sorry your order was DECLINED. Credit Card said "NOT ENOUGH FUNDS : SEE BANK"
lol no hard feelings man
  • #40,548
  • Feb 15, 2012 6:07pm Feb 15, 2012 6:07pm
I did a long at 1.07245 (did not manage to get in at 1.07000 - price move too fast), SL 1.06800. Now, losing money ....
  • #40,549
  • Feb 15, 2012 6:10pm Feb 15, 2012 6:10pm
Quoting Fbps
I did a long at 1.07245 (did not manage to get in at 1.07000 - price move too fast), SL 1.06800. Now, losing money ....
Looks like it's going to hit my stop-loss....ouch!
  • #40,550
  • Feb 15, 2012 6:15pm Feb 15, 2012 6:15pm
Quoting Fbps
I did a long at 1.07245 (did not manage to get in at 1.07000 - price move too fast), SL 1.06800. Now, losing money ....
Hope this chart might help/explain why u should go short.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-16Feb2012-2.jpg Size: 191 KB
RM
  • #40,551
  • Feb 15, 2012 6:27pm Feb 15, 2012 6:27pm
Quoting Cruci
lol no hard feelings man
I just like crackin funnies.

Been short on this pair for 3 days. Daily has crossed the 10SMA and yesterday was a pinbar. All this bloody news wouldn't let it come down. Finally in profit.
  • #40,552
  • Feb 15, 2012 6:27pm Feb 15, 2012 6:27pm
Quoting muhdhafiz
Hope this chart might help/explain why u should go short.
Thanks. What is your red line MA parameter? 200?
  • #40,553
  • Feb 15, 2012 6:28pm Feb 15, 2012 6:28pm
Quoting Fbps
Thanks. What is your red line MA parameter? 200?
200 EMA
RM
  • #40,554
  • Feb 15, 2012 6:32pm Feb 15, 2012 6:32pm
I'm back to test platform. Try and try but still a long way to go...
  • #40,555
  • Feb 15, 2012 6:33pm Feb 15, 2012 6:33pm
AUD/USD 1.0680

Dont get me started about the unemployment figures.
With the IT stats available these days.. counting three sheep subtracting two cows adding a koala and dividing by kangaroo no longer qualifies as a unemployment methodology..

The growth is coming from the mining sector and everyone else is stuffed.
Ironically this socialist govt wants to tax these guys more and more.

Anyway back to the real world... Corfu.. Is it for sale yet ?

Dont buy Aussie until it is ..
  • #40,556
  • Edited 6:46pm Feb 15, 2012 6:35pm | Edited 6:46pm
H1 TF very strong bearish trend
RM
  • #40,557
  • Feb 15, 2012 6:35pm Feb 15, 2012 6:35pm
Quoting Fbps
I'm back to test platform. Try and try but still a long way to go...
Man, check this thread out...

http://www.forexfactory.com/showthread.php?t=331098

highly recommended, slow and steady wins the race. Fast timeframes can be deadly to the pockets of inexperienced traders.
  • #40,558
  • Feb 15, 2012 6:41pm Feb 15, 2012 6:41pm
Quoting lasty
AUD/USD 1.0680

Dont get me started about the unemployment figures.
With the IT stats available these days.. counting three sheep subtracting two cows adding a koala and dividing by kangaroo no longer qualifies as a unemployment methodology..

The growth is coming from the mining sector and everyone else is stuffed.
Ironically this socialist govt wants to tax these guys more and more.

Anyway back to the real world... Corfu.. Is it for sale yet ?

Dont buy Aussie until it is ..
  • #40,559
  • Feb 15, 2012 6:41pm Feb 15, 2012 6:41pm
Quoting muhdhafiz
H1 TF very strong bullish trend
Bearish you mean?
  • #40,560
  • Feb 15, 2012 6:44pm Feb 15, 2012 6:44pm
Quoting Rokz
Man, check this thread out...

http://www.forexfactory.com/showthread.php?t=331098

highly recommended, slow and steady wins the race. Fast timeframes can be deadly to the pockets of inexperienced traders.
I'm on H1 TF. Daily would mean a much higher stop loss, also fewer trade signals.
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