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  • #12,421
  • Nov 7, 2012 7:59pm Nov 7, 2012 7:59pm
Quoting maximmm
curiously, I'd short this, if I wasn't invested in nzd.

5percent does make a good point, use stops - especially if long AUD (I'm projecting aud move down quite a bit in the near future, so if going long on what is likely to go down, stops are essential). UNLESS you think aud will go up medium/long term - then you can build structural longs.

Given the weekly chart triangle, though - I'd be wary of doing this. It is safer to go long above 1.06. I'm quite certain 5percent will disagree with me^^
just opened a small lot 0.1 and wanted to bag 15-20 green pips thats it
  • #12,422
  • Nov 7, 2012 8:03pm Nov 7, 2012 8:03pm
Quoting maximmm
curiously, I'd short this, if I wasn't invested in nzd.

5percent does make a good point, use stops - especially if long AUD (I'm projecting aud move down quite a bit in the near future, so if going long on what is likely to go down, stops are essential). UNLESS you think aud will go up medium/long term - then you can build structural longs.

Given the weekly chart triangle, though - I'd be wary of doing this. It is safer to go long above 1.06. I'm quite certain 5percent will disagree with me^^
It depends on one's trading time frame.
daddybearforex. com
  • #12,423
  • Nov 7, 2012 8:32pm Nov 7, 2012 8:32pm
Quoting maximmm
curiously, I'd short this, if I wasn't invested in nzd.

5percent does make a good point, use stops - especially if long AUD (I'm projecting aud move down quite a bit in the near future, so if going long on what is likely to go down, stops are essential). UNLESS you think aud will go up medium/long term - then you can build structural longs.

Given the weekly chart triangle, though - I'd be wary of doing this. It is safer to go long above 1.06. I'm quite certain 5percent will disagree with me^^
not really, long above 1.0621 area buy stops already in place, these are price actions strategy. If price can go to 1.0621, it gives an extension to challenge 2012 high, which i agree. Still if aud bull wants to go higher, it must conquer the 61.8 region which is 1.0445 area as well,

Anyway, yesterday's daily on aud is a bearish sign or even reversal sign or temporary top. The bear sellers will keep coming in until pa is above 1.0445, meanwhile, the session are still in selling pressure from yesterday's sentiment. Anyway, price always go up and down, faces bid and offer on every important level along with fundamental weather, so time frame differs as well depend one is looking at which picture, there are buying and selling opportunity on every level and pa on different tf, entry as well as exit, so every position contained a risk and probability .

no one is right or wrong, since we can't predict the future, so i would use sell and buy stops to catch session trend given there are chances to breakout either side, if not its mere ranging/scalping.
  • #12,424
  • Nov 7, 2012 8:34pm Nov 7, 2012 8:34pm
Quoting Brocklesnar
just opened a small lot 0.1 and wanted to bag 15-20 green pips thats it
i don't think there's enough volatility to carry this on at the moment until frankfurt, mean while it's more ranging within these range. the 50sma earlier rejected on hour1, suggesting rejection/lack of bullish strength with selling pressure. still one long bull vs 1 bearish candle on range towards next session volatility.
  • #12,425
  • Nov 7, 2012 8:39pm Nov 7, 2012 8:39pm
Quoting 5percent
i don't think there's enough volatility to carry this on at the moment until frankfurt, mean while it's more ranging within these range. the 50sma earlier rejected on hour1, suggesting rejection/lack of bullish strength with selling pressure. still one long bull vs 1 bearish candle on range towards next session volatility.
I think it's safer to short at this point even nothing is really safe in the Forex market.
daddybearforex. com
  • #12,426
  • Nov 7, 2012 8:46pm Nov 7, 2012 8:46pm
Quoting DaddyBear
I think it's safer to short at this point even nothing is really safe in the Forex market.
possible yes.

hedging can also be done. for instance the tradyer can sell 1.0430 and buy 1.0416. and decide to break ties with either one on a good stop loss level that breakout may happen and trail the winning towards be+pip to cover the loss they had closed on the losing trade and try to nurse the winner longer. but its not that easy to manage but its a hedging technique to gives two possibility.
  • #12,427
  • Nov 7, 2012 8:53pm Nov 7, 2012 8:53pm
Quoting 5percent
possible yes.

hedging can also be done. for instance the tradyer can sell 1.0430 and buy 1.0416. and decide to break ties with either one on a good stop loss level that breakout may happen and trail the winning towards be+pip to cover the loss they had closed on the losing trade and try to nurse the winner longer. but its not that easy to manage but its a hedging technique to gives two possibility.
Hedging is not very easy to do IMO. It's hard to set the entry and exit as well.
daddybearforex. com
  • #12,428
  • Nov 7, 2012 8:57pm Nov 7, 2012 8:57pm
Quoting DaddyBear
Hedging is not very easy to do IMO. It's hard to set the entry and exit as well.
yes, because every person's target and expectation is different, especially the trader must be decisive to cut and plan where are the possible breakout point, and also be ready to take losses for the one they cut and also be ready to breakeven or even make slight losses if the winner trade get trailed out too quickly due to fake out/fundamental change which change the course of trend. However, it still a lower risk kind of trading, as it opens door to 2 possibilities, with smaller losses if used correctly with experience.

There are trader that are on trend and be on green, and trader they are against trend and be on red. But chances change every now and then. the green may become red later on if they don't trail/cut or take profit, when tide change. It's a game of stealing pips from the market, or being in under-water if one have bigger stop loss or nil stop loss or be stopped out on stoploss/margin
  • #12,429
  • Nov 7, 2012 9:53pm Nov 7, 2012 9:53pm
Sl triggered -50$
  • #12,430
  • Nov 7, 2012 9:55pm Nov 7, 2012 9:55pm
Bounced off from FIB 76.4%.
daddybearforex. com
  • #12,431
  • Nov 7, 2012 9:59pm Nov 7, 2012 9:59pm
Quoting Brocklesnar
Sl triggered -50$
Sorry for your loss.
daddybearforex. com
  • #12,432
  • Nov 7, 2012 10:00pm Nov 7, 2012 10:00pm
Quoting DaddyBear
Sorry to for your loss.

will cover it in london session
  • #12,433
  • Nov 7, 2012 10:12pm Nov 7, 2012 10:12pm
Quoting Brocklesnar

will cover it in london session
How will you cover?!^^

I suggest you place a sell order in eurusd pair - at 1.2880 level. Stop - 1.2920 Target? 1.27 or 1.26
Of course, it is equally likely that euro may continue moving down from current levels - but the key is, it will move down either from here or from 1.2880
  • #12,434
  • Nov 7, 2012 10:21pm Nov 7, 2012 10:21pm
Quoting Brocklesnar

will cover it in london session
Why wait until London open?
daddybearforex. com
  • #12,435
  • Nov 7, 2012 10:23pm Nov 7, 2012 10:23pm
Quoting DaddyBear
Why wait until London open?
I took the elevator down earlier and now am taking another one up. I don't wait that long.
daddybearforex. com
  • #12,436
  • Nov 7, 2012 10:26pm Nov 7, 2012 10:26pm
Quoting DaddyBear
I took the elevator down earlier and now am taking another one up. I don't wait that long.
Actually, I ride K-Whale and surf the waves.
Attached Image
daddybearforex. com
  • #12,437
  • Nov 8, 2012 7:04am Nov 8, 2012 7:04am
The Aussie is in a triangle now. Which way is it heading to?
daddybearforex. com
  • #12,438
  • Nov 8, 2012 7:05am Nov 8, 2012 7:05am
Quoting DaddyBear
The Aussie is in a triangle now. Which way is it heading to?
8:30 EST may give a direction.
daddybearforex. com
  • #12,439
  • Nov 8, 2012 7:07am Nov 8, 2012 7:07am
Quoting DaddyBear
8:30 EST may give a direction.
However, this triangle may transform to a channel later. The general direction is south. IMO
daddybearforex. com
  • #12,440
  • Nov 8, 2012 7:17am Nov 8, 2012 7:17am
Quoting DaddyBear
However, this triangle may transform to a channel later. The general direction is south. IMO
I think this is a combo of a triangle and a channel. The question is where the entry point should be. A test of the Pivot or 1.044x may be in the cards.
daddybearforex. com
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