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  • #9,081
  • Sep 6, 2012 5:02am Sep 6, 2012 5:02am
Quoting doblece
It's a long long story, but I feel I have grown to another (if slightly above) trading level.
Thanks for sharing the story, or at least a part of it. I think I'm catching your drift, and nice to see people stay in the game, advance in their trading. Funnily, I'm only simplifying. Risk instruments vs. safe havens. Is the position going my way or not, end of story.

Quoting doblece
Very often longer term EURAUD charts could offer more clues than Aussie's own.
Now I'm far from your 7 years of experience, but it seems to me AUD is always correlated to something of bigger global importance. Like I remember it was moving absolutely in parallel with Gold, tick after tick. Recent years this correlation seems to have weakened, now AUD seems to follow E/U + E/A.

Anyway I agree very much on that one should try and see the whole picture, maybe multiple pairs of the same currency, everyone has to come up with their approach... mine are again, simple, trendline breaks mostly.

nice talking to you today.
forget about tomorrow, just steal away into the night
  • #9,082
  • Sep 6, 2012 5:14am Sep 6, 2012 5:14am
Quoting irfandbl
oh yeah? scroll back to the previous page, who's up there? the day is still young my friend



so it's more like a psychological area?
You got there with a FUDGE so not sure negative posts should count

Some people trade the Monday gaps, but I do not know the % of them that are closed.
Some people say I'm lucky, but the more I practice the luckier I get
  • #9,083
  • Sep 6, 2012 5:34am Sep 6, 2012 5:34am
Quoting doblece
The Stoch was pointing up while I was drawing the elements on the chart, I had placed the numbers it was at on both candles.

And then it dawned on me that the last candle is a MONTHLY candle and has a few weeks to go and change. That's why I went back to weekly and downsized the number of periods until I got something (as it was barely beginning to turn.

Or course 5,3,3 will be short-lived. But the levels it signals coincide with my other findings so I'll take them until they are proven wrong.

The question I sometimes forget to ask myself...
I like your charts and reading them so please keep them coming, I hope to also get to know more about how you trade divergence.

I have stopped worrying about the trend and trying to follow it if it happens great if it does not then so be it. For me its all about managing your open trade(s) and bringing them to a profitable conclusion. I do not trade with SL's and will therefore hedge my trades if they are working against me until I see PA respecting a S or R, then I will close my hedge and open another trade in the direction of my losing trade, if this turns out to be fake I will hedge again and sooner or later it will start to go in my direction long enough to take a profit from the basket of trades. However I only take trades where I see divergence in the first place, I do this because the market is already someway towards making a correction, which at best could be a new trend.
Some people say I'm lucky, but the more I practice the luckier I get
  • #9,084
  • Sep 6, 2012 6:03am Sep 6, 2012 6:03am
- A/U H1:
Attached Image (click to enlarge)
Click to Enlarge Name: au h1.gif Size: 22 KB
  • #9,085
  • Sep 6, 2012 7:45am Sep 6, 2012 7:45am
Quoting doblece
Fandango zone is level 310ish for me.
At any time the price has been there (and NOT at 250 which is the center) I have made wrong entry decisions. Of course, there are other places, like for example the one we're just now.

But "FOR ME" (as those were huge mistakes of last year = 6-8% loss after a painful 50% floating DD), that's the price level I don't want to hear about, LOL. It's just a personal joke

You said it, anyway: violent, directionless chop.
That's why I am moving to quieter zones.
Now, after 7 years of trading, and even...

"finally start to understand many of the lessons that more seasoned traders used to scold me with in my beginnings."

Would you mind sharing what lessons you have learnt now, and what lessons those seasoned traders tried to teach you when you started ?
  • #9,086
  • Sep 6, 2012 8:14am Sep 6, 2012 8:14am
Quoting foxybunny
"finally start to understand many of the lessons that more seasoned traders used to scold me with in my beginnings."

Would you mind sharing what lessons you have learnt now, and what lessons those seasoned traders tried to teach you when you started ?

Here's a BIG one : Get egotistical and throw all your money into one trade (all eggs in one basket) and the market WILL make you humble again. Try it.
  • #9,087
  • Sep 6, 2012 8:36am Sep 6, 2012 8:36am
Quoting chiknthief
Here's a BIG one : Get egotistical and throw all your money into one trade (all eggs in one basket) and the market WILL make you humble again. Try it.

Done it!!

Have you?
  • #9,088
  • Sep 6, 2012 8:45am Sep 6, 2012 8:45am
Is the upside correction over? Market rallied to the top of the 4H MAC (green line) and DOJI'ed out. Momentum rose high enough to exceed previous highs and has hooked south. Can it break the 4H MAC? If it does - it would be bullish.

On the other hand, some ST TF's have triggered buy signals. Maybe its fandango time.
Attached Image (click to enlarge)
Click to Enlarge Name: h4 mac.gif Size: 27 KB
  • #9,089
  • Sep 6, 2012 8:46am Sep 6, 2012 8:46am
Currently, the Aussie is going through a correction of previous upward move. The pattern is likely a flat. IMO
daddybearforex. com
  • #9,090
  • Sep 6, 2012 8:49am Sep 6, 2012 8:49am
Quoting foxybunny
Done it!!

Have you?

Yep, several years back I overloaded the boat and IT SANK !!!
  • #9,091
  • Sep 6, 2012 8:53am Sep 6, 2012 8:53am
Quoting DaddyBear
Currently, the Aussie is going through a correction of previous upward move. The pattern is likely a flat. IMO
The Aussie has been pounding R2 four times. She is going to make a reversed H/S pattern. The final push will open the gate IMO.
daddybearforex. com
  • #9,092
  • Sep 6, 2012 8:58am Sep 6, 2012 8:58am
Quoting DaddyBear
Currently, the Aussie is going through a correction of previous upward move. The pattern is likely a flat. IMO
The time slot for the bear move is dwindling. Probably gonna be flat and choppy for a while with this bull/bear tug of war.
  • #9,093
  • Sep 6, 2012 9:00am Sep 6, 2012 9:00am
Quoting chiknthief
The time slot for the bear move is dwindling. Probably gonna be flat and choppy for a while with this bull/bear tug of war.
BTW - apparently the mkt liked the news last night.
  • #9,094
  • Sep 6, 2012 9:02am Sep 6, 2012 9:02am
TRIGGER - H4 enters GREEN ZONE
  • #9,095
  • Sep 6, 2012 9:13am Sep 6, 2012 9:13am
Quoting chiknthief
The time slot for the bear move is dwindling. Probably gonna be flat and choppy for a while with this bull/bear tug of war.
The FLAT I mentioned is not the flat you are talking about. As a matter of fact, the door was opened.
daddybearforex. com
  • #9,096
  • Sep 6, 2012 9:15am Sep 6, 2012 9:15am
Quoting DaddyBear
The FLAT I mentioned is not the flat you are talking about. As a matter of fact, the door was opened.
Actually, it was a zigzag.
daddybearforex. com
  • #9,097
  • Sep 6, 2012 9:28am Sep 6, 2012 9:28am
The mkt has dropped way below the upsloping 50 ma (turquoise line). Looks like it wants to go somewhere fast and a high % of the time it will come back and visit the 50ma after a big break - (to its equilibrium). Notice the daily MAC red line is in confluence with the 50 ma. It might be in a hurry to get there.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 28 KB
  • #9,098
  • Sep 6, 2012 9:42am Sep 6, 2012 9:42am

FUDGE
  • #9,099
  • Sep 6, 2012 9:43am Sep 6, 2012 9:43am
Quoting DaddyBear
Actually, it was a zigzag.

Lolol, the market zig zags down, then it zig zags up darn near everyday.
  • #9,100
  • Sep 6, 2012 9:44am Sep 6, 2012 9:44am
Quoting Daytrader74

FUDGE


Uh Oh !!!
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