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AUD/USD

  • #50,161
  • Edited 8:47pm Jul 16, 2012 8:34pm | Edited 8:47pm
Quoting Aldente
I like fib fans when projecting potential targets. If 1.0280 is breached early next week, which seems likely given the current momentum, then I see a possible continuation to the 1.0400 level. The thickest blue line in the middle is the 38.2 fan line from the all-time low to the all-time high.
Attachment
First target hit.
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  • #50,162
  • Jul 16, 2012 9:09pm Jul 16, 2012 9:09pm
Quoting DonL
What do Tiger's and Trains have to do with Bulls and Bears?? LOL It could be that for some traders, the train has left the station without them!!
tiger is the battle cry of the divine wind. train was right on time today.

btw if you don't already have this, it's a nice desktop gadget.

http://www.stocktime.ru/en/index.html
http://www.stocktime.ru/en/screensaver.htm

this is good as well for more in depth market timing
http://marketclocks.com/index.php?co...arket&region=2
Attached Image
  • #50,163
  • Jul 16, 2012 9:59pm Jul 16, 2012 9:59pm
Quoting Fudomyo
tiger is the battle cry of the divine wind. train was right on time today.

btw if you don't already have this, it's a nice desktop gadget.

http://www.stocktime.ru/en/index.html
http://www.stocktime.ru/en/screensaver.htm

this is good as well for more in depth market timing
http://marketclocks.com/index.php?co...arket&region=2
That is quite nifty.. Thanks for posting!
There are those who know, and there are those who don't know.
  • #50,164
  • Jul 16, 2012 10:15pm Jul 16, 2012 10:15pm
Quoting Fudomyo
tiger is the battle cry of the divine wind. train was right on time today.

btw if you don't already have this, it's a nice desktop gadget.

http://www.stocktime.ru/en/index.html
http://www.stocktime.ru/en/screensaver.htm

this is good as well for more in depth market timing
http://marketclocks.com/index.php?co...arket&region=2
wow... thank you, this can be very useful.


edit: its not showing clock in my gadget... only [x] mark
  • #50,165
  • Jul 16, 2012 10:16pm Jul 16, 2012 10:16pm
I took out a short position.. with a extremely tight S/L where it just hit the resistance level. with a trailing stop.. if it starts sliding down.. I'll make out if it go's back up.. I'll lose.. 10 pips.
There are those who know, and there are those who don't know.
  • #50,166
  • Jul 16, 2012 11:08pm Jul 16, 2012 11:08pm
nice little run up...to bad I missed it....would like to short from here but I think it still has some more upwards movement...1.0325-35 range would be a nice entry... anyone think London will take it there...
  • #50,167
  • Jul 16, 2012 11:18pm Jul 16, 2012 11:18pm
with the breakout above 1.03, a confirmed close above 1.03 would see me hedging my shorts, i am long above 1.03 but only to TP at 1.0370 at 61.8% fib retrace level, then ill have the shorts released back in the water
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #50,168
  • Jul 16, 2012 11:23pm Jul 16, 2012 11:23pm
Quoting palabara
I took out a short position.. with a extremely tight S/L where it just hit the resistance level. with a trailing stop.. if it starts sliding down.. I'll make out if it go's back up.. I'll lose.. 10 pips.
Don't ever expect consistent profits with tight stop losses, that's not how the market works but I guess you'll learn on your own after getting burned too many times.
That my friend is not a smart trade.
Don't get mad, get even!
  • #50,169
  • Jul 16, 2012 11:24pm Jul 16, 2012 11:24pm
Quoting stulic
And again and again and again... the only safe short stays EUR/AUD.

Just hit yet another historic low...
hey stulic nice chart this business is all about making money ...what about gbpaud?
http://screencast.com/t/YdjvsuaZTNMW
cheers
  • #50,170
  • Jul 16, 2012 11:40pm Jul 16, 2012 11:40pm
Quoting TrendTrader
hey stulic nice chart this business is all about making money ...what about gbpaud?
http://screencast.com/t/YdjvsuaZTNMW
cheers
On the phone atm can't post screens but check my TE, still short on both. GBP/AUD target 5120, EUR/AUD 1.16
Don't get mad, get even!
  • #50,171
  • Jul 16, 2012 11:50pm Jul 16, 2012 11:50pm
Quoting stulic
On the phone atm can't post screens but check my TE, still short on both. GBP/AUD target 5120, EUR/AUD 1.16
Hey Stulic....checked out the trades you are running, many look just like mine ....i do not really post much charts on FF or chat for that matter...
But i hold some AUDJPY long, AUDUSD long, GBPAUD short...
I like that swap on them too...
Started reading this thread becuz of DB's pictures...those are the best...simple pictures but great info...

TT
  • #50,172
  • Jul 16, 2012 11:56pm Jul 16, 2012 11:56pm
Quoting stulic
On the phone atm can't post screens but check my TE, still short on both. GBP/AUD target 5120, EUR/AUD 1.16
Hey Stulic,
Here are some charts with some simple lines
http://screencast.com/t/5JzJBdzi5dri
http://screencast.com/t/KpzMymPBkN

TT
  • #50,173
  • Jul 17, 2012 12:06am Jul 17, 2012 12:06am
Quoting bguguen
with the breakout above 1.03, a confirmed close above 1.03 would see me hedging my shorts, i am long above 1.03 but only to TP at 1.0370 at 61.8% fib retrace level, then ill have the shorts released back in the water

That's not hedging that's taking a loss !
Shorting higher up is a totally new position - and that's if it ever gets there .
I love traders like you - constantly in denial when you're wrong .
It's losers like yourself that have supported my independence & income these past 26 years !!!!
  • #50,174
  • Jul 17, 2012 12:16am Jul 17, 2012 12:16am
Quoting stulic
Don't ever expect consistent profits with tight stop losses, that's not how the market works but I guess you'll learn on your own after getting burned too many times.
That my friend is not a smart trade.
Some traders use very tight SLs and do very well. Especially if they are locking in a top and a bottom with two opposing trades. I have used stops of BE +1 on some senerios in PA style trading. It simply depends on the style of trading a person is doing.
I would be reluctant to tell someone that they are not trading smart unless I was aware of why they placed a trade in the way that they did or thought that everyone should trade the way I do.

Have a great trading day!
  • #50,175
  • Jul 17, 2012 12:21am Jul 17, 2012 12:21am
Quoting DonL
Some traders use very tight SLs and do very well. Especially if they are locking in a top and a bottom with two opposing trades. I have used stops of BE +1 on some senerios in PA style trading. It simply depends on the style of trading a person is doing.
I would be reluctant to tell someone that they are not trading smart unless I was aware of why they placed a trade in the way that they did or thought that everyone should trade the way I do.

Have a great trading day!
How are you tonight DoNL? I am still awake.. after last night -- I went to sleep and missed my exit on the Euro -- Not happening twice! lol
There are those who know, and there are those who don't know.
  • #50,176
  • Jul 17, 2012 12:38am Jul 17, 2012 12:38am
Quoting Balmain Boy
That's not hedging that's taking a loss !
Shorting higher up is a totally new position - and that's if it ever gets there .
I love traders like you - constantly in denial when you're wrong .
It's losers like yourself that have supported my independence & income these past 26 years !!!!
Right....

we shall see how Ben is gona fuck the Dollar bears up... besides we are approaching the bottom of the dollar's bull channel.... expect some wild swings today.....
with Ben's secretive intention to keep Treasury bond Yields Low.... i wont be surprised if he says No to QE3...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #50,177
  • Jul 17, 2012 12:41am Jul 17, 2012 12:41am
Quoting DonL
Some traders use very tight SLs and do very well. Especially if they are locking in a top and a bottom with two opposing trades. I have used stops of BE +1 on some senerios in PA style trading. It simply depends on the style of trading a person is doing.
I would be reluctant to tell someone that they are not trading smart unless I was aware of why they placed a trade in the way that they did or thought that everyone should trade the way I do.

Have a great trading day!
How does one place a SL at BE+1 when executing a trade? Impossible.
I don't know what you mean with PA style trading but I assume you mean scalping, moving your SL to BE+1 after you paid spread is one thing, manually executing a trade with 10 pip SL for no other reason then expecting to have caught the absolute top or bottom, is another, and will ruin your account in the long run. Simple as that.
Don't get mad, get even!
  • #50,178
  • Jul 17, 2012 12:46am Jul 17, 2012 12:46am
I'm looking for PA to stay within/above the confluence of the the major and minor 38.2 fib lines, for an eventual move up to the 1.0370-1.0400 area, we have a pretty solid break of the previous days range so it looks promising. Breaks of the zone highlighted in red would be possible shorting opportunities.

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  • #50,179
  • Jul 17, 2012 12:46am Jul 17, 2012 12:46am
Quoting palabara
How are you tonight DoNL? I am still awake.. after last night -- I went to sleep and missed my exit on the Euro -- Not happening twice! lol
Doing wonderful this afternoon! Watching the interesting PA for the Asian markets. Interesting trade this morning on the AUD/USD! Woke up to see it had already broke out of the triangle pattern on that chart that I was watching yesterday (see previous posts) only to see it coming back to test the breakout line in textbook fashion at a point that also coincided with the 23.6 fib around 1.0240. I immediately took a long position and exited at the previous high! Could have held for another 20+ pips but would rather bank than be greedy.

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I'm currently short from the previous high at 1.0300 with a stop that some traders think is not smart! Currently BE and trailing.
  • #50,180
  • Jul 17, 2012 12:49am Jul 17, 2012 12:49am
Quoting stulic
How does one place a SL at BE+1 when executing a trade? Impossible.
I don't know what you mean with PA style trading but I assume you mean scalping, moving your SL to BE+1 after you paid spread is one thing, manually executing a trade with 10 pip SL for no other reason then expecting to have caught the absolute top or bottom, is another, and will ruin your account in the long run. Simple as that.
I assure you, putting tight S/L is the furthest thing away from ruining your account, if you have 100 consecutive losses then yes... I've been trading for many years.. I have learned what works and doesn't.. I am not saying that particular trade was.. a gold success. At the same time.. the 10 pips didn't bankrupt me..

PA style is trading the Price Action.. Short term trading, but I wouldn't say scalping.. I think scalping over the years has lost its meaning.. and got confused with day trading.. back in the day an excellent scalper would be in and out of the market in 3 seconds.. a good scalper in 10 seconds.. holding a trade for an hour is day trading regardless of how much pips you get.


With all of that said.. If you place tight strategic S/L you can benefit with small risk's. If you consecutively accruing losses then need to rethink the strategy.
There are those who know, and there are those who don't know.
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