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AUD/USD

  • #65,381
  • Sep 16, 2013 6:41am Sep 16, 2013 6:41am
Quoting fxtyrant
{quote} 0.95 will come in as a real test , psych level confluencing resistance zone
i am splitting my long on .945 and fully closing TP at .96
luck is a loser's excuse
  • #65,382
  • Sep 16, 2013 6:43am Sep 16, 2013 6:43am
Quoting RBlackburn
{quote} I'd be carefull thinking like that... it's easy to hold on to losers and ignore price action when your vision is clouded
Playing gaps required patience and you need to be able to handle drawdown and the occasional large loss (pip wise not account %, if using proper MM). There is no way of telling if this is the one gap that will go 1000 pips before closing or never close for years, so you have to play them all equally and let the numbers pan out and have a wide stop loss in pip terms (but == to 1 or 2% account). You cannot play gaps with a tight stop loss as you will be shaken out every time.

I use price action and S/R to trade normally but with gap trades I just let it play out, Gap closes or Stop hit.
  • #65,383
  • Sep 16, 2013 6:45am Sep 16, 2013 6:45am
AUD/USD looks bearish to me!
My tp will be 0.90 from here! and sl would be 0.94.
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Money never sleeps I can hear the dollar calling me
  • #65,384
  • Sep 16, 2013 6:48am Sep 16, 2013 6:48am
Quoting RBlackburn
{quote} I mean you may be right but if the N.Y traders see value in the aussie why bother filling a gap? The gap could be see as aussie strength - there arn't that many gap traders...
jobs data were quite horrendous
  • #65,385
  • Sep 16, 2013 6:48am Sep 16, 2013 6:48am
Quoting Bullet
{quote} Playing gaps required patience and you need to be able to handle drawdown and the occasional large loss (pip wise not account %, if using proper MM). There is no way of telling if this is the one gap that will go 1000 pips before closing or never close for years, so you have to play them all equally and let the numbers pan out and have a wide stop loss in pip terms (but == to 1 or 2% account). You cannot play gaps with a tight stop loss as you will be shaken out every time.
Ok yeah i agree, i must have misunderstood i thought you we're talking about the market "sucking in longs" before the u.s session trades lower... It just sounded like short term analysis to me...
  • #65,386
  • Sep 16, 2013 6:54am Sep 16, 2013 6:54am
Quoting Greener
{quote} jobs data were quite horrendous
Lol much worse then forecast... That was last week that data was priced in quickly.. imo
  • #65,387
  • Sep 16, 2013 7:07am Sep 16, 2013 7:07am
Quoting RBlackburn
{quote} Ok yeah i agree, i must have misunderstood i thought you we're talking about the market "sucking in longs" before the u.s session trades lower... It just sounded like short term analysis to me...
Yes I was just throwing it out there, I think one of the reasons gaps are filled so often is that there is a liquidity vacuum inside the gap and price can be pushed back down fairly easily for a quick profit once they have accumulated positions and stops have built up from the longs below.
  • #65,388
  • Sep 16, 2013 7:09am Sep 16, 2013 7:09am
Quoting tony95
{quote} Wish I had statistics on gaps that are this large
You do.........

On the weekend , you open your chart and start counting............
The More You Learn, The More You Earn.....
  • #65,389
  • Sep 16, 2013 7:15am Sep 16, 2013 7:15am
Quoting santuary123
Sigh.. i hate the gap T_T 2 weeks ago i sell aud at 9250 (floating 9 day) and i closed at 9225 last week.. T__T Now i have position sell at 0.9275 Tp at 9180 (already floating 5 day) Hope aud go down But i add pending long at 9380 TP at 9460 -_-
Change your way of thinking, it's not the market.............
The More You Learn, The More You Earn.....
  • #65,390
  • Sep 16, 2013 7:23am Sep 16, 2013 7:23am
Quoting RBlackburn
{quote} Lol much worse then forecast... That was last week that data was priced in quickly.. imo
well the shocking news was priced in but the resulting new picture not quite, especially considering a permanently depressed mining sector and RBA's margins for further rate cuts
  • #65,391
  • Sep 16, 2013 7:26am Sep 16, 2013 7:26am
Quoting RBlackburn
{quote} I'd be carefull thinking like that... it's easy to hold on to losers and ignore price action when your vision is clouded

That statement reminds me of Beer Goggles..........For Forex Trading........
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The More You Learn, The More You Earn.....
  • #65,392
  • Sep 16, 2013 8:22am Sep 16, 2013 8:22am
i wonder where 2+2=4ex has gone to....
tthat guy got me on the short side with him...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #65,393
  • Sep 16, 2013 8:24am Sep 16, 2013 8:24am
Quoting fxtyrant
i wonder where 2+2=4ex has gone to.... tthat guy got me on the short side with him...

And I think you got me on the short side too...lol
  • #65,394
  • Sep 16, 2013 8:29am Sep 16, 2013 8:29am
Quoting fxtyrant
i wonder where 2+2=4ex has gone to.... tthat guy got me on the short side with him...
Haha i have one short at 0.92, but depending on this Wednesday, i might hold or close it
Logics do not apply in FOREX
  • #65,395
  • Sep 16, 2013 8:32am Sep 16, 2013 8:32am
Quoting fxtyrant
i wonder where 2+2=4ex has gone to.... tthat guy got me on the short side with him...
He might have gone to that Math Place in the Sky................
The More You Learn, The More You Earn.....
  • #65,396
  • Sep 16, 2013 8:32am Sep 16, 2013 8:32am
A new engulfing candle on AU...guys what difference does this make?
  • #65,397
  • Sep 16, 2013 8:34am Sep 16, 2013 8:34am
Quoting mercie
A new engulfing candle on AU...guys what difference does this make?
US session getting going, I think this is the start of the move to fill the gap.
  • #65,398
  • Sep 16, 2013 8:35am Sep 16, 2013 8:35am
Quoting Bullet
{quote} US session getting going, I think this is the start of the move to fill the gap.

  • #65,399
  • Sep 16, 2013 8:35am Sep 16, 2013 8:35am
Us industrial rising again
taper happening regardless if its yellen or summers
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #65,400
  • Sep 16, 2013 8:37am Sep 16, 2013 8:37am
Quoting fxtyrant
Us industrial rising again taper happening regardless if its yellen or summers
This dumb question for the last time...would tapering make USD go up or down?
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