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AUD/USD

  • #44,861
  • May 17, 2012 7:05am May 17, 2012 7:05am
Quoting Daytrader74
Moving Average - a curly line that has nothing to do with the price movement if you have an open position.

Pain - exiting at loss, reversing your position on a stock and then watching it go the way you knew it would in the first place.

Position Trading - day trading that went the wrong way right after you took a position.

Pro - a guy at trading center who says nothing and keeps smiling all the time.

Scalping - losing only an eighth in one go.
more definitions:

Support: the price level where you opened a short

Resistance: the price level where you opened a long

Strong Support: the exact price level where you put your SL in a long

Strong Resistance: the exact price level where you put your SL in a short
The moment you stop growing you start shrinking.
  • #44,862
  • May 17, 2012 7:15am May 17, 2012 7:15am
Quoting vitalhb
more definitions:

Support: the price level where you opened a short

Resistance: the price level where you opened a long

Strong Support: the exact price level where you put your SL in a long

Strong Resistance: the exact price level where you put your SL in a short
  • #44,863
  • May 17, 2012 7:19am May 17, 2012 7:19am
Spread – (if a deal is profitable) sharing your wealth; (if a deal is unprofitable) a malicious market maker who rips you off.

System Trading - a phrase you employ to explain to the Apprentice how your trade did not work out the way you meant.

Technical Analysis - (traditional) a voodoo, the animal blood and chanting excluded; (Point and Figure) a really weird voodoo, the animal blood and chanting excluded.

Top - (when you have an open long position) the point on the chart where the stock price backs off fast before you get out; (when you have an open short position) the exact spot where you cover.

Trainer - the only man in the room who has never tried intraday trading in his life.

Trend Line - an imaginary line on the price chart that only changes when the market is closed or when you are not looking.

Up On The Day - what you are when the market closes, not taking into account ticket charges.

Uptick - (when you have an open long position) added hope; (when you have an open short position) a market maker, letting everyone else in; (if no positions are open) a good chance to lose some money through opening a short position.

Volume Spike - (an open position) confirmation that you are either the smartest person or the biggest idiot on Earth; (no positions are open) confirmation that you are the smartest person on the planet, but you were not paying attention.
  • #44,864
  • May 17, 2012 8:19am May 17, 2012 8:19am
how are everyone doing? i took an easy 25 pips and im going to sleep with a smile happy trading.
  • #44,865
  • May 17, 2012 8:23am May 17, 2012 8:23am
Long 0.9920, finally a long position on AUD !
Expect the unexpected.
  • #44,866
  • May 17, 2012 8:29am May 17, 2012 8:29am
Quoting fx-rocket
Long 0.9920, finally a long position on AUD !
How confident are you with that one? and where is your SL?
  • #44,867
  • May 17, 2012 8:50am May 17, 2012 8:50am
Quoting Daytrader74
How confident are you with that one? and where is your SL?
yeahh where is the SL ?
  • #44,868
  • May 17, 2012 8:51am May 17, 2012 8:51am
Quoting yuNn
yeahh where is the SL ?
This isn't the time for a long!
  • #44,869
  • May 17, 2012 8:53am May 17, 2012 8:53am
Quoting Daytrader74
This isn't the time for a long!
we still waiting for 0.9860

kiwi already broken 0.7650.. 0.7575 up next
  • #44,870
  • May 17, 2012 9:14am May 17, 2012 9:14am
Quoting fx-rocket
Long 0.9920, finally a long position on AUD !
Locked in 7 pips, stop @ 0.9927
Expect the unexpected.
  • #44,871
  • May 17, 2012 9:16am May 17, 2012 9:16am
Quoting fx-rocket
Locked in 7 pips, stop @ 0.9927
  • #44,872
  • May 17, 2012 9:17am May 17, 2012 9:17am
Quoting Daytrader74
This isn't the time for a long!
He he, you guys did not see that long spurt happen did you!
Expect the unexpected.
  • #44,873
  • May 17, 2012 9:18am May 17, 2012 9:18am
Quoting fx-rocket
He he, you guys did not see that long spurt happen did you!
No I was in toilet.....seems like always big things happen while I'm in toilet
  • #44,874
  • May 17, 2012 9:22am May 17, 2012 9:22am
Quoting fx-rocket
He he, you guys did not see that long spurt happen did you!
Surprised by that sudden upward move, I am short at .9911
  • #44,875
  • May 17, 2012 9:57am May 17, 2012 9:57am
Adding more to my AUD long at 9920, looking for US equity market and GLD to gain further strength.
  • #44,876
  • May 17, 2012 10:12am May 17, 2012 10:12am
I am Long AUD too....waiting to break parity 1.0
PPP - Patience Pays PIPS
  • #44,877
  • May 17, 2012 12:06pm May 17, 2012 12:06pm
Linda Raschke in the lecture in this video on technical analysis mentions that the longer a base builds, to what looks like a bull or bear flag, the greater the chance of a trend reversal.

Looks like that pattern could be forming on the daily now.

Inserted Video
  • #44,878
  • May 17, 2012 12:11pm May 17, 2012 12:11pm
pay close attention.. once again p.a is kissing the 15m 200ema .. as seen previously it has been rejected and sent back down.. wait for a candle pattern like a shooting star etc.. cross between the 5 and 6 emas.. and macd has to turn around downwards... and a short will go..
Attached Image (click to enlarge)
Click to Enlarge Name: AU set up forming.jpg Size: 288 KB
  • #44,879
  • May 17, 2012 12:13pm May 17, 2012 12:13pm
small long from 9940, SL @ 9920, TP 9995

I've already scored my 200+ pips one the last few weeks, so just playing with fire going counter long trend. lol
  • #44,880
  • May 17, 2012 1:10pm May 17, 2012 1:10pm








#176






Patterns have an underlying mathematical structure.
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