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S&P is at the top of a channel, I'm looking at M5 for a short entryIgnored
Good luck
- #444
- Mar 27, 2012 9:31am Mar 27, 2012 9:31am
Possible long on AUD/USD:
http://3.bp.blogspot.com/-egcEnPPm9p...s/s400/aud.JPG
AUD/USD is not on wave 4. Wave 3 was ideal 1,618 of wave 1. Now there is support line and 38,2 of wave 3.
H1 DT is close to give buy signal - but i will wait for Higher Low with buy signal on 5minute chart before opening position.
If it manage to bounce off the EMA, I think it should break the channel and have a good run. May join you on this one. Thanks.
- #445
- Mar 27, 2012 9:57am Mar 27, 2012 9:57am
It sounds quite logical, however I will have to experiment it to feel the vibe.
In the last few posts, I told Akhh about using this method in other instrument, because it is more precised than the ultra-manipulated forex market.
In Forex Trading and other instruments in general, the indicators are just sheer indicators, it is just a gauge, in fact the indicators precede what we see with our naked eyes but not the other way round. since you are also in Malaysia, if you get a chance to visit a trading hall (HDBS or OSK), looking at the way...
Actually I trade HK stocks and HSI quite often. Yes I agree with you futures are a lot smoother than Forex. Sometimes I do experience a sharp pull back to hit my stop and goes back up again, actually I experienced it all the time, so nowadays I try to put my stops a few pips below the level I wanted to be out.
At first, I started forex because I want to hedge my HK dollar against ringgit. I normally use the AUD/USD to hedge. But after a while, I started trade it.... haha...... and got suck in to this hole, hopefully I can manage to find my way out one day.
Hey, you mention you are trading the S&P........ mind to share what's your view on S&P?
