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Aussie Trading Room and Cartoons Gallery

  • #5,661
  • Aug 14, 2012 12:37am Aug 14, 2012 12:37am
At this point, I would say the M15 formation is not a bear flag after looking at it for a few hours. It will not break the LTL in my opinion.
daddybearforex. com
  • #5,662
  • Aug 14, 2012 12:40am Aug 14, 2012 12:40am
Quoting DaddyBear
At this point, I would say the M15 formation is not a bear flag after looking at it for a few hours. It will not break the LTL in my opinion.
Same here...

Regards,
FX-Pro
  • #5,663
  • Aug 14, 2012 12:43am Aug 14, 2012 12:43am
Quoting DaddyBear
At this point, I would say the M15 formation is not a bear flag after looking at it for a few hours. It will not break the LTL in my opinion.
I agree, also, S&P position is supportive IMO.
  • #5,664
  • Aug 14, 2012 12:44am Aug 14, 2012 12:44am
Quoting FX-Pro
Same here...

Regards,
FX-Pro
I thought you were short. Confused about your position.
daddybearforex. com
  • #5,665
  • Aug 14, 2012 12:45am Aug 14, 2012 12:45am
Quoting DaddyBear
At this point, I would say the M15 formation is not a bear flag after looking at it for a few hours. It will not break the LTL in my opinion.
Whats LTL? what is your outlook for the aussie today?
My Currency is Urgency
  • #5,666
  • Aug 14, 2012 12:46am Aug 14, 2012 12:46am
Quoting SugarTrade
I agree, also, S&P position is supportive IMO.
Entered a long here, will pyramid in above today's high, or stop out later. Good night and best of luck gents. May the retail sales numbers be with you.
  • #5,667
  • Aug 14, 2012 12:46am Aug 14, 2012 12:46am
Quoting SugarTrade
Out of curiosity, based on that book, how will you manage your trade if the aussie went to, say, 1.06?
my orders sizes are .50C per pip hence I can easily hold even 1.080
Reduced size is for that purpose so eliminates panic closes and allows orders to mature.
If you examine all your losses you'll find those losses were seldom real losses but rather premature closes.
In trading, you have to be defensive and aggressive at the same time
  • #5,668
  • Aug 14, 2012 12:54am Aug 14, 2012 12:54am
I posted these two cartoons yesterday. They happened again today. This is Déjà vu of the Forex market.
Attached Image (click to enlarge)
Click to Enlarge Name: SWING-8.JPG Size: 39 KB
daddybearforex. com
  • #5,669
  • Aug 14, 2012 12:54am Aug 14, 2012 12:54am
Daddybear,
some insight from you would be nice as I am confused at the moment about the price action. I want to say bear but everything is pointing to a bull run...

1.0496 is a key level that I'm watching at the moment, if it gets tested or not today that is the question.
  • #5,670
  • Aug 14, 2012 1:06am Aug 14, 2012 1:06am
Quoting whyphi
Daddybear,
some insight from you would be nice as I am confused at the moment about the price action. I want to say bear but everything is pointing to a bull run...

1.0496 is a key level that I'm watching at the moment, if it gets tested or not today that is the question.
if not sure place limit sell orders where you think PA may climb say 1.055 and
relax.
Nobody can predict the future!!! Based on everything I am all BEAR and not regretting!
In trading, you have to be defensive and aggressive at the same time
  • #5,671
  • Aug 14, 2012 1:06am Aug 14, 2012 1:06am
Quoting whyphi
Daddybear,
some insight from you would be nice as I am confused at the moment about the price action. I want to say bear but everything is pointing to a bull run...

1.0496 is a key level that I'm watching at the moment, if it gets tested or not today that is the question.
To answer your question in a simplest way is to post my previous message again for you.

Quoting DaddyBear
Now, Captain DB is sailing on the River of No Return to get his holy grail .......
Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
Attached Image
daddybearforex. com
  • #5,672
  • Aug 14, 2012 1:16am Aug 14, 2012 1:16am
Quoting DaddyBear
To answer your question in a simplest way is to post my previous message again for you.



Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
yes, a picture may be worth a 1000 words.. but why say 1000 words and confuse while u can say one word and be clear?
My Currency is Urgency
  • #5,673
  • Aug 14, 2012 1:19am Aug 14, 2012 1:19am
Quoting DaddyBear
I thought you were short. Confused about your position.
As mentioned earlier i traded that for a small risk of just 5 Pips... & i closed it for +16... however my long time trades are still not given me a right trigger yet.... waiting
Attached Image
  • #5,674
  • Aug 14, 2012 1:26am Aug 14, 2012 1:26am
got 3 shorts 52 516 508
TP 50 for all 3 (possible pips 42)
I expect a retraction
In trading, you have to be defensive and aggressive at the same time
  • #5,675
  • Aug 14, 2012 1:32am Aug 14, 2012 1:32am
Quoting Forexmint
yes, a picture may be worth a 1000 words.. but why say 1000 words and confuse while u can say one word and be clear?
I counted a few times and believe I did not say 1000 words in the previous message.

To answer your question, I will make it as short as possible.

Having no direct answer is more meaningful than giving out an outright solution. Less is more!
daddybearforex. com
  • #5,676
  • Aug 14, 2012 1:34am Aug 14, 2012 1:34am
Quoting whyphi
Daddybear,
some insight from you would be nice as I am confused at the moment about the price action. I want to say bear but everything is pointing to a bull run...

1.0496 is a key level that I'm watching at the moment, if it gets tested or not today that is the question.
The market moves in waves, I read them using the MACD histogram if the histogram is showing convergence on the Daily, then look for a pullback and go with the trend, use the smaller TF's and look for divergence to give you a good entry.

Price will move from convergence to divergence or divergence to divergence, you can look at any chart and when price reaches an extreme there will always be divergence. Divergence will not give you the perfect entry, but you can add to your trades knowing price will always return to where the divergence started. So with the right leverage you can trade without SL's adding to your original position at known S&R levels or good candle stick patterns.

I find trading divergence and convergence in this way is mush easy than trying to find tops and bottoms, granted it is not an inter day style of trading because I can hold trades for weeks, but it is very profitable.
Some people say I'm lucky, but the more I practice the luckier I get
  • #5,677
  • Aug 14, 2012 1:44am Aug 14, 2012 1:44am
Quoting Robot Trader
The market moves in waves, I read them using the MACD histogram if the histogram is showing convergence on the Daily, then look for a pullback and go with the trend, use the smaller TF's and look for divergence to give you a good entry.

Price will move from convergence to divergence or divergence to divergence, you can look at any chart and when price reaches an extreme there will always be divergence. Divergence will not give you the perfect entry, but you can add to your trades knowing price will always return to where the divergence started....
what's the range you are referring as far as divergence and convergence and what time frame.
Just curious
In trading, you have to be defensive and aggressive at the same time
  • #5,678
  • Aug 14, 2012 1:45am Aug 14, 2012 1:45am
wait for UK session.
  • #5,679
  • Aug 14, 2012 2:03am Aug 14, 2012 2:03am
Quoting Davit
what's the range you are referring as far as divergence and convergence and what time frame.
Just curious
I look at the Daily & 4H and then it depends on what I see, at the moment we have continuing divergence on AUDUSD Daily which then turned into regular divergence. So I see price returning to 1.02 level in the coming weeks.

If I find hidden divergence on say the 4H I will look for regular divergence on one TF lower to give me conformation. If I see convergence on the Daily, I will look for a pullback and divergence on one to two TF's lower.

I also like to trade divergence in conjunction with Harmonic patterns at know S&R levels.

And on top of all that I really like the Bollinger Bands which I have a few rules that I follow when looking for trade setups.
Some people say I'm lucky, but the more I practice the luckier I get
  • #5,680
  • Aug 14, 2012 2:07am Aug 14, 2012 2:07am
Quoting DaddyBear
I counted a few times and believe I did not say 1000 words in the previous message.

To answer your question, I will make it as short as possible.

Having no direct answer is more meaningful than giving out an outright solution. Less is more!
be honest here DB, are you a lawyer? or have studied law?
My Currency is Urgency
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