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  • #17,441
  • Dec 2, 2012 7:33pm Dec 2, 2012 7:33pm
Quoting maximmm
Banks are trading funds as well as algorithms. Furthermore, these days banks trade using bots - these are high frequency trades - not overnight trades, as may be the case with hedge funds.
The triangle bit, you may well be right - we see triangles, while others may see 'fundies'. Regardless, the triangle formation does show the current trading pattern of the banks - one which is leading to narrower and narrower consolidation - one which will lead to a breakout in 2013. The interest rate bit? I stand by it. To think that a positive interest rate...
I agree with the high frequency trades, If you watch a 8,3,3 stochastic cross the 80% and 20% on a 1m,5m and 15m at the same time , you get these bursts of price action.
  • #17,442
  • Dec 2, 2012 7:40pm Dec 2, 2012 7:40pm
In my opinion, bull will start from 1.034* =) safe trade
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  • #17,443
  • Dec 2, 2012 7:40pm Dec 2, 2012 7:40pm
Quoting kerrydrake
Sweet ! Thanksgiving all over again.......
kerrydrake, welcome. -DB-
daddybearforex. com
  • #17,444
  • Dec 2, 2012 7:42pm Dec 2, 2012 7:42pm
Quoting zoloft40mg
hello Guys.

GM from here. im new on this thread. hope i can join and get green pips
Welcome, zoloft40mg. Are you taking 40 mg Zoloft?
daddybearforex. com
  • #17,445
  • Dec 2, 2012 7:43pm Dec 2, 2012 7:43pm
Quoting azmn396
In my opinion, bull will start from 1.034* =) safe trade
Looks like a good safe area to me.
  • #17,446
  • Dec 2, 2012 7:43pm Dec 2, 2012 7:43pm
Quoting Shmuel
Re-testing 1.04, watching if I want to go long on that breakout
Shmuel, welcome.
daddybearforex. com
  • #17,447
  • Dec 2, 2012 7:43pm Dec 2, 2012 7:43pm
Quoting azmn396
In my opinion, bull will start from 1.034* =) safe trade
1.035 is an important level - if it is breached and closes below that, then 1.015 is likely next. Tomorrow's rate decision will be the big move and 1.0520 and 1.035 are key levels - that is, aud closing above 1.520 on daily chart is very significant - same applies to aud closing below 1.035
  • #17,448
  • Dec 2, 2012 7:49pm Dec 2, 2012 7:49pm
Short here. With tight SL so I could be losing a few here. Hasn't touched my 0414.7 lvl yet, so I am actually a bit early. No confirmation either for a short. It just might be a good place around here. If not, SL will keep my account alive
  • #17,449
  • Dec 2, 2012 7:50pm Dec 2, 2012 7:50pm
Look out! Looks like move down was a fake
Good luck and may the odds be ever in your favor!
  • #17,450
  • Dec 2, 2012 7:51pm Dec 2, 2012 7:51pm
Quoting dbutton1990
Look out! Looks like move down was a fake
Roger that, thank you. Will tighten SL some more.
  • #17,451
  • Dec 2, 2012 7:52pm Dec 2, 2012 7:52pm
Quoting Stretch
Roger that, thank you. Will tighten SL some more.
Hit -4
  • #17,452
  • Dec 2, 2012 8:00pm Dec 2, 2012 8:00pm
Quoting Stretch
Short here. With tight SL so I could be losing a few here. Hasn't touched my 0414.7 lvl yet, so I am actually a bit early. No confirmation either for a short. It just might be a good place around here. If not, SL will keep my account alive
It hit 50% retrace already tonight.
  • #17,453
  • Dec 2, 2012 8:05pm Dec 2, 2012 8:05pm
Quoting kerrydrake
It hit 50% retrace already tonight.
Not sure what you mean, could you elaborate on that? Thank you
  • #17,454
  • Dec 2, 2012 8:07pm Dec 2, 2012 8:07pm
Quoting Stretch
Not sure what you mean, could you elaborate on that? Thank you
nov 30 high to tonights low and 50% retrace was 1.0416
  • #17,455
  • Dec 2, 2012 8:08pm Dec 2, 2012 8:08pm
Quoting maximmm
Banks are trading funds as well as algorithms. Furthermore, these days banks trade using bots - these are high frequency trades - not overnight trades, as may be the case with hedge funds.
The triangle bit, you may well be right - we see triangles, while others may see 'fundies'. Regardless, the triangle formation does show the current trading pattern of the banks - one which is leading to narrower and narrower consolidation - one which will lead to a breakout in 2013. The interest rate bit? I stand by it. To think that a positive interest...
First of all I'm not even in the trade & I'm anything but a perma-bull I always prefer to be short cuz fear is a far stronger emotion than greed & the moves are much stronger & faster. That being said I'm looking at the market as a whole & making sense of what is really going on. I stand by what I said about rate being cut more than .25bps will only cause a sell off for a couple of days. You need to look at the whole picture & understand that until the fiscal cliff is out of the way your not going to see any serious down move on any of the dollar crosses. Lack of liquidity will generally keep markets up. That's how it works. No major bank is shorting any real size until fiscal cliff nonsense is out of the way & without fresh shorts this pair will bounce around but overall it will finish positive.
It works till it doesn't
  • #17,456
  • Dec 2, 2012 8:08pm Dec 2, 2012 8:08pm
Quoting dbutton1990
Look out! Looks like move down was a fake
Not really fake depending on your TF.
daddybearforex. com
  • #17,457
  • Dec 2, 2012 8:09pm Dec 2, 2012 8:09pm
Quoting Stretch
Hit -4
Could have got out with -1 or 0 if I kept original SL. But no biggie.
H1 close was above my lvl 0414.7, so I would say it's more in favor of going up now, but need confirmation.

Also the 0395 has hold well, it closed in the zone with the downbar and above with the upbar. Should have kept a pending there, but the downmove looked so strong. Anyone in from the current low?
  • #17,458
  • Dec 2, 2012 8:11pm Dec 2, 2012 8:11pm
Quoting DaddyBear
Not really fake depending on your TF.
A retest of daily low is in the cards.
daddybearforex. com
  • #17,459
  • Dec 2, 2012 8:14pm Dec 2, 2012 8:14pm
Quoting Stretch
Hit -4
try not to have tight SL.
  • #17,460
  • Dec 2, 2012 8:16pm Dec 2, 2012 8:16pm
Quoting HelloOz
try not to have tight SL.
That depends on trading style off course. Not always this tight, but with much movement I sometimes tighten it some what.
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