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  • #13,521
  • Nov 14, 2012 9:29pm Nov 14, 2012 9:29pm
Quoting pabloski
So it seems the big bids @ 1.0350 did their job. Latest AUD news were the catalysts.
Do you think so? I think it was due for a reversal.
daddybearforex. com
  • #13,522
  • Nov 14, 2012 9:31pm Nov 14, 2012 9:31pm
Quoting DaddyBear
Do you think so? I think it was due for a reversal.
Agree on that too. I am actually bad at fundamentals so I just skip those. It will probably burn me a couple of times in the future, but news is often already priced in, right?
  • #13,523
  • Nov 14, 2012 9:35pm Nov 14, 2012 9:35pm
Quoting Stretch
Agree on that too. I am actually bad at fundamentals so I just skip those. It will probably burn me a couple of times in the future, but news is often already priced in, right?
The market is driven by the Law of Market [EWP] not the news. News/fundies are only the catalysts of moves not the forces behind it. IMO
daddybearforex. com
  • #13,524
  • Nov 14, 2012 9:36pm Nov 14, 2012 9:36pm
Quoting Daytrader74
Well it gave all them 10 pips back dady
BTW, did you short at the daily low?
daddybearforex. com
  • #13,525
  • Nov 14, 2012 9:41pm Nov 14, 2012 9:41pm
Quoting DaddyBear
The market is driven by the Law of Market [EWP] not the news. News/fundies are only the catalysts of moves not the forces behind it. IMO
I still need to learn EWP, sadly got lot's of other things to do still. Can't trade fulltime yet. And I am learning on a step to step basis, once I developed a step and I am content with it. Than I will move on to the next. Elliot Waves are on that list. Thx.
  • #13,526
  • Nov 14, 2012 9:41pm Nov 14, 2012 9:41pm
Quoting DaddyBear
BTW, did you short at the daily low?
No Papa I bought
  • #13,527
  • Nov 14, 2012 9:44pm Nov 14, 2012 9:44pm
Quoting Stretch
I still need to learn EWP, sadly got lot's of other things to do still. Can't trade fulltime yet. And I am learning on a step to step basis, once I developed a step and I am content with it. Than I will move on to the next. Elliot Waves are on that list. Thx.
When you get to know the EWP, it will like adding the wings to a tiger. It will also let you stay ahead of the curve. IMO
daddybearforex. com
  • #13,528
  • Nov 14, 2012 9:45pm Nov 14, 2012 9:45pm
Quoting DaddyBear
Do you think so? I think it was due for a reversal.
Me too, and I think that the reversal started when the price hit the support zone right after news release.
  • #13,529
  • Nov 14, 2012 9:46pm Nov 14, 2012 9:46pm
Quoting Daytrader74
No Papa I bought
But, I remember you disagreed with my bullish view when it dropped. You mentioned you wanted to short at that level. What made you change your mind?
daddybearforex. com
  • #13,530
  • Nov 14, 2012 9:47pm Nov 14, 2012 9:47pm
Quoting DaddyBear
The market is driven by the Law of Market [EWP] not the news. News/fundies are only the catalysts of moves not the forces behind it. IMO
Google "the Law of Market [EWP" your post comes up first, that was fast
  • #13,531
  • Nov 14, 2012 9:48pm Nov 14, 2012 9:48pm
Quoting DaddyBear
When you get to know the EWP, it will like adding the wings to a tiger. It will also let you stay ahead of the curve. IMO
I totally believe that too. There are some FF posters I occasionally follow, they really have great analysis, it's just so much to learn and grasp before you understand it. Need hours to put into that. But the future has enough of those hours
If you know what you know now, where would you have begun learning EWP?
  • #13,532
  • Nov 14, 2012 9:50pm Nov 14, 2012 9:50pm
Quoting DaddyBear
But, I remember you disagreed with my bullish view when it dropped. You mentioned you wanted to short at that level. What made you change your mind?
i thought so too.
thought it was titanic,
i hope no one sell at bottom.. i should be banned... bad boy !!!
  • #13,533
  • Nov 14, 2012 9:53pm Nov 14, 2012 9:53pm
I'm neither bullish nor bearish in regards to aud - playing usdjpy triangle now - we'll see which way it breaks - supposedly to the upside
  • #13,534
  • Nov 14, 2012 9:53pm Nov 14, 2012 9:53pm
Quoting DaddyBear
But, I remember you disagreed with my bullish view when it dropped. You mentioned you wanted to short at that level. What made you change your mind?
No papa, what I disagreed with was how u were adding more to your position while it was still falling!
  • #13,535
  • Nov 14, 2012 9:54pm Nov 14, 2012 9:54pm
Quoting HelloOz
i thought so too.
thought it was titanic,
i hope no one sell at bottom.. i should be banned... bad boy !!!
You should not get banned because you thought differently. Everyone still has to think for themselves. Weigh the different options, SL, MM, TP, Position size etc.
But yes selling at bottom is always bad, but there could be one time it isn't a bottom.
I made my fair share of "sell at bottom" mistakes. I hope I learned from it
At least you switched right on the good time and got some pips in the bank.
  • #13,536
  • Nov 14, 2012 9:56pm Nov 14, 2012 9:56pm
Just went short on EurAud maybe a little eraly but that my bad habit
  • #13,537
  • Nov 14, 2012 9:58pm Nov 14, 2012 9:58pm
Quoting Stretch
That's just how price acts.
It came up to the 0382 lvl, it couldn't break it, so it goes back to the 0373 lvl, it didn't break that, so a few closes here and there and watch either one break. Price doesn't go in a straight line.

If 0382 breaks it's up to 0396 to hold off the boat or let it break.

If 0373 breaks, there is still 0371 if that breaks too it's back to 0359

I personally like this confirmed on M30 and H1


Edit: With good momentum price can "skip" levels, but than it would also be confirmed...
It broke, now it has to confirm. At least for me. If you don't like me posting, just tell me. I don't mind.

Still got a 50% fib at 0386..


This one M30 (H1 too) that just closed above 0382 isn't enough for confirmation, but gives it a better chance for sure. Need at least an extra M30 close above it. preferably above 0386
  • #13,538
  • Nov 14, 2012 9:59pm Nov 14, 2012 9:59pm
Quoting Stretch
You should not get banned because you thought differently. Everyone still has to think for themselves. Weigh the different options, SL, MM, TP, Position size etc.
But yes selling at bottom is always bad, but there could be one time it isn't a bottom.
I made my fair share of "sell at bottom" mistakes. I hope I learned from it
At least you switched right on the good time and got some pips in the bank.
It wasn't a mistake per se - the channel line was breached, but the problem was that it didn't close below that line - I suppose it is better to wait for the price to close at a certain level prior to going bullish/bearish.

Still - no big loss. More trade opportunities on the way^^
  • #13,539
  • Nov 14, 2012 10:01pm Nov 14, 2012 10:01pm
wouldn't you know it, usdjpy triangle just broke to the upside
  • #13,540
  • Nov 14, 2012 10:04pm Nov 14, 2012 10:04pm
Quoting maximmm
It wasn't a mistake per se - the channel line was breached, but the problem was that it didn't close below that line - I suppose it is better to wait for the price to close at a certain level prior to going bullish/bearish.

Still - no big loss. More trade opportunities on the way^^
I wasn't saying it was a mistake. I was saying "selling at the bottom is always bad" If it wasn't the bottom it wouldn't be bad
We all got our different trading systems, and I bet we are all fine tuning it. I hope to learn something extra by reading this thread and contributing to it.
And yes confirmation is always a good thing, though I sometimes forget to be patience too common human mistake
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