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Price is everything

  • #27,041
  • Feb 21, 2012 2:14pm Feb 21, 2012 2:14pm
Quoting Dropped Onion
au demand rising. hitting first area of resistance here
long taken out at entry. we still have room for short term upside bounce on au
  • #27,042
  • Feb 21, 2012 2:18pm Feb 21, 2012 2:18pm
Quoting Dropped Onion
bought pound yen at demand levels.
a slight bounce, then minor resistance level capped prices. exiting around cost. plenty of sellers in this market
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  • #27,043
  • Feb 21, 2012 2:25pm Feb 21, 2012 2:25pm
Quoting Dropped Onion
long taken out at entry. we still have room for short term upside bounce on au

Thanks a lot for sharing your charts DO. I take your charts and many of the other people in this forum to read them and I've learned from them a lot. Thank you.
  • #27,044
  • Feb 21, 2012 2:39pm Feb 21, 2012 2:39pm
Quoting willi9723
Thanks a lot for sharing your charts DO. I take your charts and many of the other people in this forum to read them and I've learned from them a lot. Thank you.
anytime. there is a wealth of practical resources and trading knowledge in PIE.
  • #27,045
  • Feb 21, 2012 3:11pm Feb 21, 2012 3:11pm
Quoting Dropped Onion
long taken out at entry. we still have room for short term upside bounce on au
I totally agree! Nice work DO

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  • #27,046
  • Feb 21, 2012 3:12pm Feb 21, 2012 3:12pm
Quoting Orbital
Attachment
Nice to see you Orb!
  • #27,047
  • Feb 21, 2012 3:20pm Feb 21, 2012 3:20pm
Quoting bbakker
Nice to see you Orb!
Thanks Brian Havent seen you on skype in a while, hope you are okay.

The gold prediction with the bounce point was pretty fly even for me i have to admit, oh well you know the trading mantra:

"PIE and ROMTP traders.. Predicting shit thats going to happen, how its going to happen, where its going to happen, before it happens"

  • #27,048
  • Feb 21, 2012 3:47pm Feb 21, 2012 3:47pm
Quoting Orbital
Thanks Brian Havent seen you on skype in a while, hope you are okay.

The gold prediction with the bounce point was pretty fly even for me i have to admit, oh well you know the trading mantra:

"PIE and ROMTP traders.. Predicting shit thats going to happen, how its going to happen, where its going to happen, before it happens"

I am fine thanks. Trading is sweet but I am very busy at work these days and with management conscious of my trading, I also got a very poor yearly review in January (first one in the 9 years that I have been working there!), my work is being monitored.

I basically had to make some changes over the last few months whereby I am mainly trading of the weekly/daily timeframes with the old scalp thrown in during the evenings when I get home such as my AUDUSD trade that I posted just now. I don't get many trades these days, but that is just fine with me.

First and foremost, I have to provide a roof over my family's head and with two young daughters, I cannot take the risk of trading full-time until I am certain that any income I get from trading can cover my lost salary. I will eventually get there.

I will ping you in Skype soon for a chat. Take it easy matey!
  • #27,049
  • Feb 21, 2012 5:37pm Feb 21, 2012 5:37pm
au - long on possible bear trap, with low taken out pulling in sellers. plenty of headwind for buyers ahead. i am looking for shorting opps on a decent bounce
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  • #27,050
  • Feb 21, 2012 6:07pm Feb 21, 2012 6:07pm
there was a great level on cable to short earlier today. Reasons for shorting:

 

  1. previous buying attempts have all been engulfed
  2. momentum is south
  3. you are shorting a pullback, anticipating trend continuation
  4. there is accelerated buying into the supply area
  5. this is important, as if price gets there quickly, it can leave quickly
  6. there are also less zones it has to breakthrough on the way down
  7. motion into mass

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  • #27,051
  • Feb 21, 2012 6:10pm Feb 21, 2012 6:10pm
Quoting Dropped Onion
au - long on possible bear trap, with low taken out pulling in sellers. plenty of headwind for buyers ahead. i am looking for shorting opps on a decent bounce
DTL capped prices. took some off near that level. taking rest out around entry
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  • #27,052
  • Feb 21, 2012 6:19pm Feb 21, 2012 6:19pm
hi D.O

longed ozzy
(Stopped @ BE)
Attached Image
Simplicity Is The Ultimate Sophistication ~LDV~
  • #27,053
  • Feb 21, 2012 6:21pm Feb 21, 2012 6:21pm
Quoting alterchristo
hi D.O

longed ozzy
(Stopped @ BE)
Hey Alt - looks like sellers want to take the aud/usd lower. short next bounce?
  • #27,054
  • Feb 21, 2012 6:25pm Feb 21, 2012 6:25pm
Quoting alterchristo
hi D.O

longed ozzy
(Stopped @ BE)
Alt, you managed your trade, had a bounce and were then taken out at BE
  • #27,055
  • Feb 21, 2012 6:26pm Feb 21, 2012 6:26pm
eurjpy - waiting for lower levels for possible buy.
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  • #27,056
  • Feb 21, 2012 6:26pm Feb 21, 2012 6:26pm
@ D. O, may be I'll wait for London Open to continue trading.
hee hee
have a nice trade D.O...
Simplicity Is The Ultimate Sophistication ~LDV~
  • #27,057
  • Feb 21, 2012 6:36pm Feb 21, 2012 6:36pm
Quoting alterchristo
@ D. O, may be I'll wait for London Open to continue trading.
hee hee
have a nice trade D.O...
Alt - plenty of opps in the Asia session.....stick around....trade/profit/repeat.
  • #27,058
  • Feb 21, 2012 6:38pm Feb 21, 2012 6:38pm
Don't do this at home... shorting into a bullflag can/is and usually will end up being a stupid mistake.

Took out the lower ones and leaving top one at BE+1 for now to see how it develops.

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  • #27,059
  • Feb 21, 2012 6:38pm Feb 21, 2012 6:38pm
long usdcad based on supply consumption. notes on chart. time + price = $$ ?
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  • #27,060
  • Feb 21, 2012 7:58pm Feb 21, 2012 7:58pm
short AU. partial close here.

demand is removed. shorted the bounce back to area where sellers > buyers.
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