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AUD/USD

  • #54,061
  • Oct 16, 2012 4:57am Oct 16, 2012 4:57am
Quoting 100PipsADay
Hi Pair-Me-Up,

I don't normally trade using candle stick patterns unless it is Monthly or Weekly candles. Sometimes I will look for daily candles but not very often.

With that being said, do you find the smaller time frame (H1) candle stick patterns to be just as reliable as the Daily candles?

It depends on the pattern. But I agree with you that the higher the time frame the stronger they are. Also, those candles help form other chart patterns, like heand and shoulders, triangles, etc. If the previous candle is a bull candle and you get three candles starting inside of it and moving down, that is 3 inside down.
If the previous is a bull candle and the first bear candle engulfs it and continues down with three bear candles,, that is 3 outside down.

Also, candles patterns on FX and Equities vary a little bit.
http://www.hotcandlestick.com/candles.htm

and this one shows a comparison with some patterns on fx versus equities.
http://www.fxwords.com/c/continuatio...patterns-.html
Luck has no place in trading. Leave that for the poker table.
  • #54,062
  • Oct 16, 2012 5:06am Oct 16, 2012 5:06am
Quoting Pair-me-up
It depends on the pattern. But I agree with you that the higher the time frame the stronger they are. Also, those candles help form other chart patterns, like heand and shoulders, triangles, etc. If the previous candle is a bull candle and you get three candles starting inside of it and moving down, that is 3 inside down.
If the previous is a bull candle and the first bear candle engulfs it and continues down with three bear candles,, that is 3 outside down.

Also, candles patterns on FX and Equities vary a little bit.
http://www.hotcandlestick.com/candles.htm...
Thanks for the info buddy. I'll have a look.
  • #54,063
  • Oct 16, 2012 5:10am Oct 16, 2012 5:10am
Quoting 100PipsADay
Thanks for the info buddy. I'll have a look.

You're welcome.

But no matter what TA is used. As you know strong FA or bull feces type tabloid finance news can mess it all up.
Luck has no place in trading. Leave that for the poker table.
  • #54,064
  • Oct 16, 2012 5:15am Oct 16, 2012 5:15am
Quoting Pair-me-up
You're welcome.

But no matter what TA is used. As you know strong FA or bull feces type tabloid finance news can mess it all up.
Yes definitely. FA first, then TA for entry/exit.

I trade larger time frames so I don't normally get knocked out by news driven reactions as I use large SL & TP's.
  • #54,065
  • Oct 16, 2012 5:20am Oct 16, 2012 5:20am
Quoting 100PipsADay
Yes definitely. FA first, then TA for entry/exit.

I trade larger time frames so I don't normally get knocked out by news driven reactions as I use large SL & TP's.

I have been experimenting with margin lately.. Was curious if anyone has tried to almost max out their margin so the remainder acts as the SL and if it goes to TP the amount is much larger.. Just asking.
Luck has no place in trading. Leave that for the poker table.
  • #54,066
  • Oct 16, 2012 5:28am Oct 16, 2012 5:28am
Quoting Pair-me-up
I have been experimenting with margin lately.. Was curious if anyone has tried to almost max out their margin so the remainder acts as the SL and if it goes to TP the amount is much larger.. Just asking.
Mate the mathematics wont work ... I have maxed out a couple of times and come back from oblivion more than once ... fluctuations as you know can kill a bank ... Probably just me as I hate loosing and maxing out just wont come easy to me ...
  • #54,067
  • Oct 16, 2012 5:42am Oct 16, 2012 5:42am
Quoting Pair-me-up
I have been experimenting with margin lately.. Was curious if anyone has tried to almost max out their margin so the remainder acts as the SL and if it goes to TP the amount is much larger.. Just asking.
Oh not a good idea. That's a guarantee to get margin call.
  • #54,068
  • Oct 16, 2012 5:52am Oct 16, 2012 5:52am
This is my idea about aud/usd way
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  • #54,069
  • Oct 16, 2012 6:10am Oct 16, 2012 6:10am
Thanks for the responces.
Luck has no place in trading. Leave that for the poker table.
  • #54,070
  • Oct 16, 2012 6:15am Oct 16, 2012 6:15am
Quoting alibati
This is my idea about aud/usd way
This is my first ever post. Got to agree with you, i am having the same indicator around 1.0285. Let's see how well it goes.
  • #54,071
  • Oct 16, 2012 6:18am Oct 16, 2012 6:18am
I think that if the U.S. dollar index breaks up past 9,910 on the 5 minute chart, it will complete the double bottom W pattern.
Luck has no place in trading. Leave that for the poker table.
  • #54,072
  • Oct 16, 2012 6:38am Oct 16, 2012 6:38am
here's why i still have a long on this pair and have been wanting 1.0340 for over 2 weeks now

Attached Image (click to enlarge)
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Wooooohooooo or Boooooohooooo
  • #54,073
  • Oct 16, 2012 6:53am Oct 16, 2012 6:53am
Anyone catch this?

http://www.stripes.com/news/pacific/...sland-1.193234

If they go to war... flight to the green back or Aussie for sure in my opinion.
Luck has no place in trading. Leave that for the poker table.
  • #54,074
  • Oct 16, 2012 7:47am Oct 16, 2012 7:47am
Alright, closed out all of my A/U and A/J shorts for a loss of about 750 pips...

Ouch! This one bit me, but I'm not liking the weekly charts anymore, especially on the A/J.

U/J is looking like a STRONG reversal may be headed our way as we have now broken the D1 down trend line which has been holding for about 8 months now. Heading up to the weekly down trend line, if that is broken, looks like U/J is heading for the moon! I actually see this change from a Macro view, but didn't think it would start this soon.

Long any JPY cross pair (including USD/JPY) and you should do fine for the next few months! Take your pick...
  • #54,075
  • Oct 16, 2012 8:07am Oct 16, 2012 8:07am
Quoting livesri
This is my first ever post. Got to agree with you, i am having the same indicator around 1.0285. Let's see how well it goes.
Thanks, yes my enter point is 1.0285 too
good luck
  • #54,076
  • Edited 7:02pm Oct 16, 2012 2:12pm | Edited 7:02pm
Quoting Ken A
Still waiting for news. Euro might gain if more good news are coming out and EU summit about Greece.
Not much luck on e/a for me yesterday. Got kicked out of my short for -15 and the same for my long. Big spike down and then it carried on north. That's trading for ya.
Just found out the candle that kicked me out was a false candle. Broker has restored my loss.
FF journal: Peaks and Troffs
  • #54,077
  • Oct 16, 2012 3:15pm Oct 16, 2012 3:15pm
Quoting Wulfgar
The end is getting near

We should see a '96 style devaluation very soon... possibly this year
Catalyst: BOJ says easing coming end of NOV.

Yes/no?
  • #54,078
  • Oct 16, 2012 3:16pm Oct 16, 2012 3:16pm
Quoting bogus
Not much luck on e/a for me yesterday. Got kicked out of my short for -15 and the same for my long. Big spike down and then it carried on north. That's trading for ya.

Only Time will tell

http://i.imgur.com/Q50Ul.png
  • #54,079
  • Oct 16, 2012 3:30pm Oct 16, 2012 3:30pm
Quoting sidhujag
Catalyst: BOJ says easing coming end of NOV.

Yes/no?
thats what ive been sayin... post election.....
  • #54,080
  • Oct 16, 2012 4:38pm Oct 16, 2012 4:38pm
Quoting Wulfgar
thats what ive been sayin... post election.....
U dont think it would happen before?
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