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  • #5,641
  • Aug 13, 2012 9:35pm Aug 13, 2012 9:35pm
Quoting CNTrader
But then again I'm not god nor do I claim to be
Phew!

I'm glad we got that out of the way.
  • #5,642
  • Aug 13, 2012 9:36pm Aug 13, 2012 9:36pm
Quoting 2+2=4ex
Phew!

I'm glad we got that out of the way.


Don't follow me! You can and most likely will LOSE all your money!!!!
  • #5,643
  • Aug 13, 2012 9:44pm Aug 13, 2012 9:44pm
Quoting CNTrader
I dont view it quite the way you do in my chart i see LH and LL with a potential bearish flag to be tested soon. I see your15m chart as a simple abc wave correction. But then again I'm not god nor do I claim to be so by all means dont follow me and trade your plan
You are right....! we are on the same boat.... but the triggers are different... you are looking for the bearish flag to be tested.... but i'm looking for a LL & LH to enter the trade... i may give a little late entry as my risk is too small for this trade...

Any Ways... lets have some green pips soon...

Good Luck,
FX-Pro
  • #5,644
  • Aug 13, 2012 9:56pm Aug 13, 2012 9:56pm
Quoting FX-Pro
You are right....! we are on the same boat.... but the triggers are different... you are looking for the bearish flag to be tested.... but i'm looking for a LL & LH to enter the trade... i may give a little late entry as my risk is too small for this trade...

Any Ways... lets have some green pips soon...

Good Luck,
FX-Pro
Thats cool no worries. Actually I'm already short based on Price action and price action alone but when I looked at your chart I was just stating what i saw as a matter of opinion only. Break of the bearish flag would just be a bonus to me. However we are on same page as I will be looking to add at the break of a new low creating that LL you are looking for. Time will tell. Good luck to you and your trading and thanks for the insights. Stay cool
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #5,645
  • Aug 13, 2012 10:12pm Aug 13, 2012 10:12pm
0468 looks like a good support
  • #5,646
  • Aug 13, 2012 10:34pm Aug 13, 2012 10:34pm
This is always a question in my mind. For example the current M5 chart below has a flag. Is this a bear flag? In my opinion it is not a bear flag. But some people may see it a bear flag.
Attached Image (click to enlarge)
Click to Enlarge Name: BEAR FLAG-2.JPG Size: 57 KB
daddybearforex. com
  • #5,647
  • Aug 13, 2012 10:35pm Aug 13, 2012 10:35pm
Quoting CNTrader
Thats cool no worries. Actually I'm already short based on Price action and price action alone but when I looked at your chart I was just stating what i saw as a matter of opinion only. Break of the bearish flag would just be a bonus to me. However we are on same page as I will be looking to add at the break of a new low creating that LL you are looking for. Time will tell. Good luck to you and your trading and thanks for the insights. Stay cool
The Purpose of posting on this thread is to share the Ideas... you are always welcome to share your views/opinion...

The way you look at your chart shows your insight.. price action is the best indicator.... all my trades are based on price actions too....

Good Luck to all
FX-Pro
  • #5,648
  • Aug 13, 2012 10:47pm Aug 13, 2012 10:47pm
Quoting DaddyBear
This is always a question in my mind. For example the current M5 chart below has a flag. Is this a bear flag? In my opinion it is not a bear flag. But some people may see it a bear flag.

No i dont think that is a bear flag either. It is however a nice bat pattern completion on 1m and 5m that was a nice scalp for a long. However the bear flag is present on the 15m chart. If you dont see it or dont trade it then certainly dont worry about it. lol Im just a blind squirrell trying to find a nut.
Attached Image
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #5,649
  • Aug 13, 2012 10:47pm Aug 13, 2012 10:47pm
Quoting DaddyBear
This is always a question in my mind. For example the current M5 chart below has a flag. Is this a bear flag? In my opinion it is not a bear flag. But some people may see it a bear flag.
I agree, I personally would not consider that a bear flag. The fall was not very steep at all that would typically lead to the 'flag' or consolidation period.
  • #5,650
  • Aug 13, 2012 10:55pm Aug 13, 2012 10:55pm
Quoting DaddyBear
This is always a question in my mind. For example the current M5 chart below has a flag. Is this a bear flag? In my opinion it is not a bear flag. But some people may see it a bear flag.
I used to believe this pattern a bear flag and entered short at the top of the flag only to see the market bounced back right away. The markets are moved by big boys. They see what we see and they know technical better than anyone here. Now, when I see a bear flag in M15 chart, I would take one step back and try to figure out why the big boys are buying.
daddybearforex. com
  • #5,651
  • Aug 13, 2012 11:02pm Aug 13, 2012 11:02pm
Quoting DaddyBear
I used to believe this pattern a bear flag and entered short at the top of the flag only to see the market bounced back right away. The markets are moved by big boys. They see what we see and they know technical better than anyone here. Now, when I see a bear flag in M15 chart, I would take one step back and try to figure out why the big boys are buying.
You are absolutely correct in your thought process. A bear flag in of itself is a poor reason to enter a trade. It is what it is. Just calling it like I see it but what do I know i'm clueless lol
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #5,652
  • Aug 13, 2012 11:26pm Aug 13, 2012 11:26pm
Anyways....scared off by the BIg Boii's buying the bear went to bed banking 20 pips and rolling stops to BE. Next entry to the short side will be as previously mentioned. Good night all!!
Attached Image
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #5,653
  • Aug 13, 2012 11:28pm Aug 13, 2012 11:28pm
Finally it started moving down....

Regards,
FX-Pro
Attached Image
  • #5,654
  • Aug 13, 2012 11:35pm Aug 13, 2012 11:35pm
Been on the fence for right entry short
thinking this might go up along with Euro as usual but it hasn't.
Now I getting real convinced this baby is going down finally.
In trading, you have to be defensive and aggressive at the same time
  • #5,655
  • Aug 13, 2012 11:46pm Aug 13, 2012 11:46pm
Quoting Davit
Been on the fence for right entry short
thinking this might go up along with Euro as usual but it hasn't.
Now I getting real convinced this baby is going down finally.
It may be tough for him to break the 1.0500... as it acted as a strong support on last Friday & yesterday....

Lets wait & see...

Regards,
FX-Pro
Attached Image
  • #5,656
  • Aug 14, 2012 12:00am Aug 14, 2012 12:00am
Quoting FX-Pro
It may be tough for him to break the 1.0500... as it acted as a strong support on last Friday & yesterday....

Lets wait & see...

Regards,
FX-Pro
Could not help it bro
Placed 2 shorts
508 and 516
I think this is just superficial jolts. I may add more shorts as price may move higher.
I usually divide 2 lots in 4 minis and scatter them in pyramid style.I find this way it increases one's chances of better prices.
I noticed smart money has left this pair already.I think it has moved to Euro
In trading, you have to be defensive and aggressive at the same time
  • #5,657
  • Aug 14, 2012 12:13am Aug 14, 2012 12:13am
Quoting Davit
Could not help it bro
Placed 2 shorts
508 and 516
I think this is just superficial jolts. I may add more shorts as price may move higher.
I usually divide 2 lots in 4 minis and scatter them in pyramid style.I find this way it increases one's chances of better prices.
I noticed smart money has left this pair already.I think it has moved to Euro
That is not pyramiding, that is averaging down. Quite different.
  • #5,658
  • Aug 14, 2012 12:20am Aug 14, 2012 12:20am
I have been reading lot about trading etc.
"Bird watching in Lions Country"
Fascinating.
The author basically advocates low gearing (small lots) in higher time frames in right direction without SL with multiple entries.
Not closing until orders mature

Now looking back on my big losses all were without exception panic closes which had I waited even a day turned into profits.I had the direction right but panicked.

SL is grossly exaggerated and popular chargon in trading often repeated.
Lets face it guys Too tight and you will be a victim of seating duck and big boys know where those ducks are.Typical stop hunt takes place every day.

Why not win this thing like intently.Why not reduce leverage and lot size and relax and let the thing turn into profit!!

I am becoming real skeptical everything popular! 95% fail and no wonder
they are doing same thing what everyone is doing and failing.

Take a breather.Take a break and examine everything!
In trading, you have to be defensive and aggressive at the same time
  • #5,659
  • Aug 14, 2012 12:23am Aug 14, 2012 12:23am
PA might be confused until we get to London?

I see that the 1hr chart has formed a bearish trendline and it has broken the bearish flag pattern trendline on the M15. But is it going to follow the EU higher or not that is my question. Would like to see this pair drop but conflicting data may make the bear confused.

Is anyone short here? Or are you guys waiting for another signal?
  • #5,660
  • Aug 14, 2012 12:35am Aug 14, 2012 12:35am
Quoting Davit
I have been reading lot about trading etc.
"Bird watching in Lions Country"
Fascinating.
The author basically advocates low gearing (small lots) in higher time frames in right direction without SL with multiple entries.
Not closing until orders mature

Now looking back on my big losses all were without exception panic closes which had I waited even a day turned into profits.I had the direction right but panicked.

SL is grossly exaggerated and popular chargon in trading often repeated.
Lets face it guys Too tight and you will be a victim...
Out of curiosity, based on that book, how will you manage your trade if the aussie went to, say, 1.06?
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