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  • #6,541
  • Aug 17, 2012 5:55am Aug 17, 2012 5:55am
Quoting DaddyBear
Why did you think hourly close looks more bearish? Thanks.
closed below 35,and it was but not "more",can see it goes to 24 ?
Sometimes it's better to be wrong,to learn..
  • #6,542
  • Aug 17, 2012 5:59am Aug 17, 2012 5:59am
EU >> -5
AU >> -73...
amazing
Sometimes it's better to be wrong,to learn..
  • #6,543
  • Aug 17, 2012 6:07am Aug 17, 2012 6:07am
i will never trade on friday's now....
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Sometimes it's better to be wrong,to learn..
  • #6,544
  • Aug 17, 2012 6:07am Aug 17, 2012 6:07am
FUDGE
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  • #6,545
  • Aug 17, 2012 6:08am Aug 17, 2012 6:08am
Quoting KiNgEdwarD
EU >> -5
AU >> -73...
amazing
So you did long AU? And now you think its bearish? full of contradiction
  • #6,546
  • Aug 17, 2012 6:12am Aug 17, 2012 6:12am
I don't know if any of you use Bollinger Bands for trading Forex, but I do and I follow certain rules for patterns that repeat themselves.

On the weekly we have a clear straight band to band move of about 765 pips and then the move continued for a further 600 pips (I normally look for the continuation to be around 50% of the band to band move) We now have a weekly engulfing candle which is covering 3 previous candles. So I now accept PA to either retrace 1/3rd of the weekly candle before continuing the move or just carry on from where it is now with perhaps a smaller retrace. My TP target is dynamic because it is the 20 MA of the weekly Bollenger Bands.

So lets see how my Bollinger Band trading rules play out over the coming days/weeks with this being a large TF trade.
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Some people say I'm lucky, but the more I practice the luckier I get
  • #6,547
  • Aug 17, 2012 6:15am Aug 17, 2012 6:15am
Quoting salt
So you did long AU? And now you think its bearish? full of contradiction
a candle is bearish not the pair...
Sometimes it's better to be wrong,to learn..
  • #6,548
  • Aug 17, 2012 6:16am Aug 17, 2012 6:16am
The aud/usd hasn't been below red line since late may/early june. If it takes out todays low and closes below we'll have a legitimate breakout on a weekly scale (friday close) That would be very bearish.
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  • #6,549
  • Aug 17, 2012 6:20am Aug 17, 2012 6:20am
Quoting chiknthief
The aud/usd hasn't been below red line since late may/early june. If it takes out todays low and closes below we'll have a legitimate breakout on a weekly scale (friday close) That would be very bearish.
Your green and red lines are the open and close of the 34MA?
Some people say I'm lucky, but the more I practice the luckier I get
  • #6,550
  • Aug 17, 2012 6:27am Aug 17, 2012 6:27am
Quoting Robot Trader
Your green and red lines are the open and close of the 34MA?

NO ! My red and green lines is a MAC. (moving average channel) The green line is a 21 ma of the 'highs' - and the red line is a 21 ma of the 'lows'. The bollinger bands are white. You can see the MAC channel works better than the 50 bollinger band line.
  • #6,551
  • Aug 17, 2012 6:28am Aug 17, 2012 6:28am
.
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  • #6,552
  • Aug 17, 2012 6:31am Aug 17, 2012 6:31am
Quoting chiknthief
NO ! My red and green lines is a MAC. (moving average channel) The green line is a 21 ma of the 'highs' - and the red line is a 21 ma of the 'lows'. The bollinger bands are white. You can see the MAC channel works better than the 50 bollinger band line.
The 21 MAC channel is a great support/resistance area. Works quite well.
  • #6,553
  • Aug 17, 2012 6:33am Aug 17, 2012 6:33am
Quoting chiknthief
NO ! My red and green lines is a MAC. (moving average channel) The green line is a 21 ma of the 'highs' - and the red line is a 21 ma of the 'lows'. The bollinger bands are white. You can see the MAC channel works better than the 50 bollinger band line.
Thanks what is the 50 bollinger band line? do you mean the 20MA of the bollinger bands the one in the middle?
Some people say I'm lucky, but the more I practice the luckier I get
  • #6,554
  • Aug 17, 2012 6:33am Aug 17, 2012 6:33am
Quoting Daytrader74
.
  • #6,555
  • Aug 17, 2012 6:34am Aug 17, 2012 6:34am
Quoting Robot Trader
Thanks what is the 50 bollinger band line? do you mean the 20MA of the bollinger bands the one in the middle?

YES, the center bollinger line.
  • #6,556
  • Aug 17, 2012 6:37am Aug 17, 2012 6:37am
While out shopping earlier on today, I bought this new coffee mug
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  • #6,557
  • Aug 17, 2012 6:40am Aug 17, 2012 6:40am
The 21 MAC works like a charm on even a 15m chart.
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  • #6,558
  • Aug 17, 2012 6:41am Aug 17, 2012 6:41am
Quoting chiknthief
YES, the center bollinger line.
OK, I will check out your 21 MAC, I do use the 34EMA (Grab) in a similar way
Some people say I'm lucky, but the more I practice the luckier I get
  • #6,559
  • Aug 17, 2012 6:50am Aug 17, 2012 6:50am
The upmove (this month) came top a screeching halt on the 21MAC green line. Monthly chart.
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  • #6,560
  • Aug 17, 2012 6:55am Aug 17, 2012 6:55am
Could price go back up today?

5M
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