Hello Dave. I was going through your blog since it was started and found many post's to be so useful. I have copied and prepared a PDF. Will share it if you allow me to do so. Apart from that, Could you take time to conduct a webinar ?
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No problem with the pdf if you want to post it.
On the webinar that's probably not likely to happen. Time and being a technophobe probably both would be issues.
GBPAUD - Yesterdays bias up played out as did the resistance level with moves up getting rejected around 1.7470 and the D closed another shooting star. 4hr crossed lower yesterday signalling scalp sells. The lower end of the higher high higher low flow is just about holding. The 1hr is on a lower high. Don't know which will win, a move lower would target 1.7200 and a move higher 1.7480. I suspect a little more downside but a move up would be no surprise at all, no bias.
EJ - The oversized negative candle on 27th did not follow through immediately as mentioned, the D closed a large body doji. The area 129.60 gave support in the week of 31 July, 15 and 20 Aug. I suspect down but a move up again no surprise, no bias.
EURAUD - Bias up did not play out as the 1.5000 resistance level held, D closed a shooting star. Asian session moved down strongly on a 4hr lower high. The next support level is around 1.4750/70.
AUD - The strong Asian move down yesterday did not follow through lower W S1 held and the D closed negative with a lower wick again. 4hr RSI crossed higher for a counter trend buy signal moving up to the (from 26 August high) 50% fib/W M2 area. No bias.
Mastering the Art of Trading by ghous http://www.forexfactory.com/showthread.php?t=444115 anything that helps with support and resistance levels is a good thing, nice one. Its not new stuff but put together in a logical way with lots of good chart examples at the start. Also the concept of FTA, first trouble area, after entering a trade and the options available are nicely summarised.
EJ - The oversized negative candle on 27th did not follow through immediately as mentioned, the D closed a large body doji. The area 129.60 gave support in the week of 31 July, 15 and 20 Aug. I suspect down but a move up again no surprise, no bias.
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There has been no reaction up, lets see what happens and if 130.00 fails.
I probably won't look at EJ for now. In the 15 min EURAUD lower high around US open sold 1.4829. Boy has Mrs V given me some stick on the exit from the previous EURAUD sell.
We have another support level approaching at 1.4770 which will be around +60 for this trade but closer to +200 from the first entry.
Stop is at BE and this trade must still play out. Will post charts if it does.
I probably won't look at EJ for now. In the 15 min EURAUD lower high around US open sold 1.4829. Boy has Mrs V given me some stick on the exit from the previous EURAUD sell. We have another support level approaching at 1.4770 which will be around +60 for this trade but closer to +200 from the first entry. Stop is at BE and this trade must still play out. Will post charts if it does.
Mastering the Art of Trading by ghous http://www.forexfactory.com/showthread.php?t=444115 anything that helps with support and resistance levels is a good thing, nice one. Its not new stuff but put together in a logical way with lots of good chart examples at the start. Also the concept of FTA, first trouble area, after entering a trade and the options available are nicely summarised.
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Good thread. I've been through J16 thread and I was so confused with the stuff there, with so many pair's being traded and such. I'm not for the Daily chart's. It never did work for me. Day trading is what suits me the best. All though I do agree that it is helpful cause they use price action as the base.
My Mantra - Go with the flow until a key level is hit
GBPAUD - D closed a hanging man doji at the end of a run up, typically signalling a move down. 4hr in a triangle and testing the lower trend line and also the 7 August high. Not sure which way we will react no bias.
EJ - D closed a doji, RSI under 50 level and we are below the 8lwma. The current 4hr open candle is testing the lows. I suspect down but we can react higher. Bias down.
EURAUD - D closed negative to complete an evening star pattern off the 1.5000 resistance level. 4hr lower high lower low flow down. We are approaching a support level and then the W pivot at 1.4726. Below that the target could be the 16 August highs around 1.4625.
AUD - D closed a shooting star failing to go lower, 0.8900 held. 4hr has signalled a counter trend buy with RSI cross up. It remains to see whether this is anything other than a rally in a downtrend. With the current troubles facing the world its quite likely that the flight to safety, typically to the US$, will continue.
I probably won't look at EJ for now. In the 15 min EURAUD lower high around US open sold 1.4829. Boy has Mrs V given me some stick on the exit from the previous EURAUD sell. We have another support level approaching at 1.4770 which will be around +60 for this trade but closer to +200 from the first entry. Stop is at BE and this trade must still play out. Will post charts if it does.
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Mrs V is out of action today, I am about to hit meetings and will be out for the afternoon. So it doesn't look good for trading today. Paying a heavy price for the poor handling of the first EURAUD trade earlier this week. Oh well a disappointing end to a decent month.
GBPAUD - D closed positive. Opened this morning with gap down and we have had a move up to close the gap. 4hr showing the sideways channel between 1.7300 and 1.7430 for the last few days. No bias.
EJ - D closed negative with a lower wick. The lower end of the 130.50-129.60 channel holding. No bias.
EURAUD - D closed with a lower wick the 1.4760 support area holding. Gapped down this morning, bias down.
AUD - D closed negative on the previous lows. Gapped up this morning and approaching the 0.8975 level where we sold off last week. We'll have to see if down cycle has broken. Bias up.
Mrs V has bronchitis and I had month ends and saw no trades in the limited time I had to look at the charts.
GBPAUD - D closed negative but the move below the 1.7300 support level was quickly rejected this morning. Bias down potential to bounce from support.
EJ - D closed positive but no follow through after London open or in US session, stopping at the April highs. 4hr on higher low but showing negative divergence. Lots of conflicting information no bias.
EURAUD - D closed negative but like GBPAUD no follow through really after London open or in US session. Bias down potential to bounce up from support.
AUD - D closed positive but large upper wick. Bias up potential to move lower from resistance.
GBPAUD - D closed negative, after the lower high (30 Aug/2 Sep) the close below the previous swing high 1.7200 (26 Aug) has broken that cycle. 4hr lower high lower low. Bias down.
EURAUD - D closed negative and moved further in Asian session to the Aug lows. Bias down potential to bounce up from support.
EJ - D closed a doji no follow through on Mondays positive close, RSI crossed up and above 50 level. 4hr lower high after divergence had no follow through lower, above 50 level. No bias.
AUD - D closed positive and moved up further in Asian session. Bias up.
GBPAUD - D closed negative as expected. Asian session formed a double bottom, we'll need to see if this holds. Bias down, potential move up from support.
EURAUD - D closed negative in the area of the June highs. Bias down, potential to bounce up from support.
EJ - D closed positive. RSI crossed up and above 50 level. Bias up.
AUD - D closed positive. Asian session formed the double top. Bias up, potential to fall from resistance.
GBPAUD - Wed's low held, D closed positive but with a large upper wick, below 8lwma and RSI below 50 level. 4hr has crossed up for a scalp buy signal. No bias.
EJ - Also an up and down day that closed negative. 4hr RSI crossed below signal line and 50 level. 1hr showing lower high lower low flow. We had support for a few days 130.50/131.00. Bias down but we could bounce from support.
EURAUD - Yesterday we moved up from support and fell back in trend with the EUR news to close the D an inverted hammer that could not go below Wed's low. This could just be a pause bias down remains but a move up would be no surprise.
AUD - D closed negative at the identified resistance area, no 3 bar reversal, we are above the 8lwma (not unexpected after such a strong move up) and RSI has not crossed yet. Could be pause in uptrend or start of move down, D certainly not clearly saying down. No bias.
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Joined Mar 2008
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Status: Fit to trade?
|531 Posts
GBPAUD
After Y's weak daily pos close there was a 4hr negative engulfing back into trend this morning closing just below W_M0.
I waited for a 15 min engulfing negative candle and entered when that broke lower at 1.7017. Nice angle and separation of MAs. This allowed me some room to get to BE before the confluence of the 1.7 RN, Y's low and W_M3. After the push through those levels price didn't seem to want to break below the 83 lows so I closed out for +20 on the next approach to 1.70. Not wanting to risk giving all back on NFP day.
GBPAUD After Y's weak daily pos close there was a 4hr negative engulfing back into trend this morning closing just below W_M0. I waited for a 15 min engulfing negative candle and entered when that broke lower at 1.7017. Nice angle and separation of MAs. This allowed me some room to get to BE before the confluence of the 1.7 RN, Y's low and W_M3. After the push through those levels price didn't seem to want to break below the 83 lows so I closed out for +20 on the next approach to 1.70. Not wanting to risk giving all back on NFP day. {image} {image}...
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Nice one.
Mrs V is up from her bronchitis so should be back in front of computer on Monday. My very busy month end/first week of month also out of the way so you never know I might also get a trade in here and there.
Higher low, lower high system
