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  • #5,181
  • Aug 10, 2012 12:47am Aug 10, 2012 12:47am
Quoting 5percent
current momentum on min 5. Asia's liquid is not too much, so it's moving quite gradually and not instant.

SP500 already lower, we may see cac and dax opening lower as well, frankie's open can cause some plunge/spike in the first few minutes. Or maybe london will tell.

Long takers from 10 should have a stop after 1.050 not too far, as rumors saying sell stops just below 1.0500 whole number.

bids still at 10 and 00 [ believe to be ]

won't be surprise to see a free fall today if aud still do not pick up it's bull gear.

1.0590-1.0615...

Today's option expiries: 350 and 550. Let's see which way it goes.
  • #5,182
  • Aug 10, 2012 12:52am Aug 10, 2012 12:52am
Quoting payal
Today's option expiries: 350 and 550. Let's see which way it goes.
Right to say that if it broke 500 its gonna go right down all the way?
A 1 pip gain is better than a 1 pip loss.
  • #5,183
  • Aug 10, 2012 12:53am Aug 10, 2012 12:53am
like an idiot closed my shorts at 55 only to see it fall lot further
Entered short again but questionable numbers
51.5 Ouch
52.
I thought it was heading 50 so didn't want to miss.
Rebounding now hopefully not too far.
In trading, you have to be defensive and aggressive at the same time
  • #5,184
  • Aug 10, 2012 12:55am Aug 10, 2012 12:55am
Quoting flipnfaith
DB....finally got the move. Are we still sitting with our fingers reading our fx map ?
The Bull is trying to get a free ride to a warmer place ........

Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: GAS.JPG Size: 65 KB
daddybearforex. com
  • #5,185
  • Aug 10, 2012 1:05am Aug 10, 2012 1:05am
Quoting irfandbl
seems the price is playing around with 1.0524 right now, if this breaks..the next obstacle for the bears would be 1.0507
Price bounced by the time it touches 1.0509. I think the bears would have some rest until London opens. More obstacles down south are

10499
10485
10470
  • #5,186
  • Aug 10, 2012 1:06am Aug 10, 2012 1:06am
Quoting Davit
like an idiot closed my shorts at 55 only to see it fall lot further
Entered short again but questionable numbers
51.5 Ouch
52.
I thought it was heading 50 so didn't want to miss.
Rebounding now hopefully not too far.
It's better to be a winner that have pips banked then to be a loser, we can't be sure of the market at all times. Ur target is too near, maybe due to the phobia of AUD's strength lately of its bullishness. Now look at daily and weekly chart, this can actually signify more room for downside soon. 4 consecutive day of stucked range.

daily have a lot of wicks, which means u can start loading shorts at that wick zones, but don't know when it's coming down. [ its a higher probability trade, but we cannot be sure all the time]

weekly chart, already friday, and candle does not have a good body, last week's body was also small in size.

My parabolic 0.02 and 0.2 is at 1.0435, crossing there will bring to 1.0375 area before other numbers.

1.0350 is abit far, lets aim 1.0435 area first maybe and start trailing down if it's a bear day.

Option expiry are just distractions i think, though some ppl may says price tend to move near it, that's just coincidence imo, most of the time, i see price never went to the options number.

Price action and break out will make more sense imo as that's how price normally moves.

support turn resistance, resistance turn support, will be the better places to identify entry and reversal.

1.0524 remains the current near resistance before 1.0535. Since break out from 1.0565-55 area, one should look for sell on retrace rather than buy on dip on a break to down, vice versa breakout to upside to buy on dip. If aud do pull back to 1.0550 i am neutral on that.

1.0500/10 still stands but can break off any minute in Europe hours. GL to all, green pips.

It's friday.
  • #5,187
  • Aug 10, 2012 1:38am Aug 10, 2012 1:38am
Quoting 5percent
It's better to be a winner that have pips banked then to be a loser, we can't be sure of the market at all times. Ur target is too near, maybe due to the phobia of AUD's strength lately of its bullishness. Now look at daily and weekly chart, this can actually signify more room for downside soon. 4 consecutive day of stucked range.

daily have a lot of wicks, which means u can start loading shorts at that wick zones, but don't know when it's coming down. [ its a higher probability trade, but we cannot be sure all the time]

weekly chart,...
5%
Enjoy your posts and thank you for taking your time to respond.I am new as you can tell and still learning
-2k but have 1,175 in account still.Trying not to lose it.I know everyone saying most people 95% blow their accounts in 9onths or less. My 6th already.
Did ton of stupid mistakes in the beginning.Now looking back its clear where I made those mistakes.
I am determined to succeed in this and putting lot of effort.Failure is not an option!
Thank you and others for valuable posts.Only reason I come here.
In trading, you have to be defensive and aggressive at the same time
  • #5,188
  • Aug 10, 2012 1:55am Aug 10, 2012 1:55am
Quoting 5percent
It's better to be a winner that have pips banked then to be a loser, we can't be sure of the market at all times. Ur target is too near, maybe due to the phobia of AUD's strength lately of its bullishness. Now look at daily and weekly chart, this can actually signify more room for downside soon. 4 consecutive day of stucked range.

daily have a lot of wicks, which means u can start loading shorts at that wick zones, but don't know when it's coming down. [ its a higher probability trade, but we cannot be sure all the time]

weekly chart,...
Option expiries are not a distraction but an attraction, provided the price is 20-30 pips nearer at that time of option strike. Since the contracts run anywhere between 100-500 million, it attracts price closer to it.

http://www.forextraders.com/forex-strategy/exploiting-currency-options-expiries-for-forex-trading.html
  • #5,189
  • Aug 10, 2012 1:57am Aug 10, 2012 1:57am
Great analysis 5%.

Free fall doesn't mean straight line. It's a zigzag railway line.
  • #5,190
  • Aug 10, 2012 2:35am Aug 10, 2012 2:35am
Quoting payal
Option expiries are not a distraction but an attraction, provided the price is 20-30 pips nearer at that time of option strike. Since the contracts run anywhere between 100-500 million, it attracts price closer to it.

http://www.forextraders.com/forex-strategy/exploiting-currency-options-expiries-for-forex-trading.html
i get what u mean and refers to, that price tend to drawn towards it. However if price were to be at 1.0450 before US session, which will it take? 1.0350/1.0550? That's what i am referring to.

If price were to be 1.0520, no surprise it can touch 1.0550 easily. That's why i said it's distraction in my opinion only, i am not saying you are wrong nor i am right.

1.0500 is touched finally . we can get the bounce here, but resistance still remain on 1.0535 area. weak resistance at 24/30 area.

after 1.0495, next number on hour 4 is 1.0473 area.

my target still 1.0435 area.
  • #5,191
  • Aug 10, 2012 2:36am Aug 10, 2012 2:36am
if audusd break 1.0498....DOWNNNNNNNNNNNNNNNNNNNN...a lot od pips
  • #5,192
  • Aug 10, 2012 2:42am Aug 10, 2012 2:42am
FUCKI
  • #5,193
  • Aug 10, 2012 2:44am Aug 10, 2012 2:44am
Quoting Daytrader74
FUCKI
I see your account is back to alive [ positive ] why fuck haha.
  • #5,194
  • Aug 10, 2012 2:52am Aug 10, 2012 2:52am
Quoting 5percent
I see your account is back to alive [ positive ] why fuck haha.
I got a little excited with one of my gold trades lol
  • #5,195
  • Aug 10, 2012 2:54am Aug 10, 2012 2:54am
Quoting 5percent
i get what u mean and refers to, that price tend to drawn towards it. However if price were to be at 1.0450 before US session, which will it take? 1.0350/1.0550? That's what i am referring to.

If price were to be 1.0520, no surprise it can touch 1.0550 easily. That's why i said it's distraction in my opinion only, i am not saying you are wrong nor i am right.

1.0500 is touched finally . we can get the bounce here, but resistance still remain on 1.0535 area. weak resistance at 24/30 area.

after 1.0495, next number on hour 4 is 1.0473...
I agree with you. If it is too far, then it is in no man's land.

Cloud bottom on H4 is 380. Let's see if we will see this by NY close today.
  • #5,196
  • Aug 10, 2012 3:05am Aug 10, 2012 3:05am
I'm short
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  • #5,197
  • Aug 10, 2012 4:24am Aug 10, 2012 4:24am
au 4h pointing up
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Sometimes it's better to be wrong,to learn..
  • #5,198
  • Aug 10, 2012 4:35am Aug 10, 2012 4:35am
Quoting KiNgEdwarD
au 4h pointing up
everything look more like a mirror to me, look at 4hour open wide. find the bar on the left that looks similiar to it
  • #5,199
  • Aug 10, 2012 4:52am Aug 10, 2012 4:52am
Hey guys,

Been lurking here for a while now mostly on the other thread and enjoying DB's cartoons haha

I've been trading a live account for almost a year (had a demo account I was tooling around with for about 3 years until I mustered up enough courage), but unfortunately I have been sitting around break even most of this time.

Just wanted to come out of hiding and say hey!
  • #5,200
  • Aug 10, 2012 4:54am Aug 10, 2012 4:54am
Quoting 5percent
everything look more like a mirror to me, look at 4hour open wide. find the bar on the left that looks similiar to it
i'm thinking of going long if breaks above last 4h
Sometimes it's better to be wrong,to learn..
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