DislikedAgreed. Hence the only pair I'm trading (long term positions) is AUDUSD. It's a major currency so most of the issues you mentioned above should be moot.Ignored
- #43,163
- Apr 17, 2012 7:19pm Apr 17, 2012 7:19pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
- #43,164
- Apr 17, 2012 7:35pm Apr 17, 2012 7:35pm
haha maybe, we could go there, but rocket a smart guy he probly would of closed his short before the bounce....
hmm she look like setting up for a short though, see what happens
I was on the wrong side of the price yesterday... And lost 30 pipsNew day, new opportunities...
Shorted @ 1.0401, Sl 1.0441, Tp 1.0250
Expect the unexpected.
- #43,165
- Apr 17, 2012 8:30pm Apr 17, 2012 8:30pm
New day, new opportunities...
Shorted @ 1.0401, Sl 1.0441, Tp 1.0250
I don't see the setup but ballsy move rocket, I have longs myself. Good luck to you!
Watch this pair drop 150 pips in the next hour lol that would be something.
- #43,169
- Edited Apr 18, 2012 12:32am Apr 17, 2012 11:44pm | Edited Apr 18, 2012 12:32am
not sure how to read that chart...
Price is currently in a bull rectangle or flag, where it consolidates sideways after a strong rise. You can also see bear rectangles after a fall.
Usually they're continuation patterns, breaking out in the direction in which they entered - in this case, up. Occasionally they have a false break the other way, then re-enter the rectangle and break strongly the "right" way.
Now and then though the price will reverse out of a rectangle instead of continuing. In the 1st week of December last year AU was in a similar (but much larger timeframe) rectangle, false-broke to the upside, then had the real move to the downside. In short, these are tricky to trade
Edit: Almost immediately after I posted this, it broke down from the rectangle into a potential demand area around 1.037-1.038. Be interesting to see if buyers are waiting there...
- #43,170
- Apr 18, 2012 12:25am Apr 18, 2012 12:25am
The top black line would be a buy and the lower black line would be a sell, and all the blue lines below that lower black line are support lines if it breaks out that way, places where it might go back up )
- #43,171
- Apr 18, 2012 12:30am Apr 18, 2012 12:30am
- Joined Jul 2011 | Status: Heads is a buy. Tails is a sell. | 1,031 Posts
- #43,174
- Apr 18, 2012 4:24am Apr 18, 2012 4:24am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Use me as a contrarian indicator 
- #43,176
- Apr 18, 2012 5:38am Apr 18, 2012 5:38am
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #43,177
- Edited 7:15am Apr 18, 2012 7:02am | Edited 7:15am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Use me as a contrarian indicator
- #43,178
- Apr 18, 2012 7:47am Apr 18, 2012 7:47am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Use me as a contrarian indicator
- #43,179
- Edited 9:21am Apr 18, 2012 8:18am | Edited 9:21am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Weekly:
You need to click on these charts twice to see them clearly
Hourly:
Bullish to 1.0400 - 1.0450 and beyond
You need to click on these charts twice to see them clearly
Hourly:
Bullish to 1.0400 - 1.0450 and beyond
Gone to a better place
