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AUD/USD

  • #66,741
  • Sep 29, 2013 11:27pm Sep 29, 2013 11:27pm
Quoting Silat50
Would it help if those of us who use Fibs and/or pivots and s/r levels to all use the same charting package so we can really help each other see what we each see? Inspiration from Pipmaster and Pip-anon's beautiful charts gave me the idea that if we who trade similarly and do not want too much junk cluttering our monitors, maybe we can all find a free or inexpensive charting platform besides MT4 to use to help each other in Forex, and even stocvks if you guys desire. We can even have a separate thread and call it :AUD/USD-2. At the very least it...
Aww you flatter me kind sir but I agree that a solid technical package makes a great difference. I loathe MT4 at times. I can't do anything technical with it. Not only is it not visually appealing, I find the indicator inputs and out puts are wrong or differ from other upscale software.

I know MT4 is widely available to those in smaller markets, but a lot of brokerages offer their software upon account setup. Majority of the time no deposit is require, so that you could analyze on quality software and trade through your brokerage's MT4.

I love ThinkorSwim. Ninjatrader and Jforex are sexy in their own right. Also, another amazing software package is TC2000. It does cost a small license fee (like ninjatrader), but if you want want quality software, you're most likely going to have to pay for it.

http://www.worden.com/products/tc2000
http://www.ninjatrader.com/

I do like fibs, but I am not necessarily a "guru" and probably use them "wrong." I don't do waves, and I believe applying them to a wave is less optimal.

I find some traders use data samples (i.e. wave count) that are too small. I find the larger the same (i.e. timeframe + length). So I apply it to a longer dated chart's high and low. Gives a nice indication of S/R.

But Fibs are subjective, so to each their own
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When the facts change I change my mind, what do you do sir
  • #66,742
  • Sep 29, 2013 11:37pm Sep 29, 2013 11:37pm
Quoting Pip Anon
{quote} Aww you flatter me kind sir but I agree that a solid technical package makes a great difference. I loathe MT4 at times. I can't do anything technical with it. Not only is it not visually appealing, I find the indicator inputs and out puts are wrong or differ from other upscale software. I know MT4 is widely available to those in smaller markets, but a lot of brokerages offer their software upon account setup. Majority of the time no deposit is require, so that you could analyze on quality software and trade through your brokerage's...
hey Anon,
use symbol "$DXY" for the dollar index for TOS, it is more accurate than futures.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #66,743
  • Sep 29, 2013 11:56pm Sep 29, 2013 11:56pm
Quoting Slim Buffett
{quote} {quote} I'm still just wondering if you're more interested in trading or writing a newsletter. WHICH is it???
those who cant trade, eventually learns to write letters
I have applied for myfxbook signal providing list!!! wish me luck
  • #66,744
  • Sep 30, 2013 12:22am Sep 30, 2013 12:22am
Quoting ffleo
{quote} hey Anon, use symbol "$DXY" for the dollar index for TOS, it is more accurate than futures.
Sure, I'll give that a go. DX never fails, but the low volume at times is a pain if I look short-term. I tend to use it as a forecasting tool opposed to a trading vehicle.

I'll try it out tomorrow

EDIT: split screen, they are different but quite similar. What do you like about it? Just curious
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When the facts change I change my mind, what do you do sir
  • #66,745
  • Sep 30, 2013 12:30am Sep 30, 2013 12:30am
Quoting Pip Anon
{quote} Sure, I'll give that a go. DX never fails, but the low volume at times is a pain if I look short-term. I tend to use it as a forecasting tool opposed to a trading vehicle. I'll try it out tomorrow EDIT: split screen, they are different but quite similar. What do you like about it? Just curious {image}
I guess $DXY is more like spx, while /DX is like ES.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #66,746
  • Sep 30, 2013 12:33am Sep 30, 2013 12:33am
Quoting buytosell
{quote} {quote} How about to back on subject of this thread ....trading AUDUSD ..?
interpret the chart yourself,

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #66,747
  • Sep 30, 2013 12:47am Sep 30, 2013 12:47am
Quoting 5percent
This area was a recent former resistance channel, may provide some bounce/support here for the meanwhile. a move above earlier new's drop at 0.9312 area will validate the bounce. I am seeing a bounce back to challenge former lower hi. or s t r of friday's level.
Last week support level 0.9338/40. main level of test for support turns resistance, clear will move up higher.

0.9320/25 may provide some temporary resistance, europe/us session support area.

Lower hi -> 0.9368 and 0.9375, then 0.9402. Crossing 2 level of lower hi, primarily above 0.9402 will put aud on bullish view higher of pullback completion.

Anything above 0.9402 will validate that previous resistance zone of 0.9280-0.9320 may channel into a resistance turns support channel to re-test 0.95 or higher.

Today is monthly close, pivot for me. bearish under 0.9280, neutral zone range box 0.9281-0.9340. Bullish above 0.9340 closing. quite a number of high impact data and events this week as well. sell would be best below current lo, or pull back lower hi. long favorably on this r t s zone.
  • #66,748
  • Sep 30, 2013 1:02am Sep 30, 2013 1:02am
If some people want to get a free copy of Market Profile reference, ask infinitus for it. Market profile is a great tool to use.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #66,749
  • Sep 30, 2013 1:44am Sep 30, 2013 1:44am
http://en.wikipedia.org/wiki/Market_profile
maybe this profile?

if we think there is a silver lining in this discussion
after we know market, who maybe traded by psycho, we can do profiling to describe their next move.
  • #66,750
  • Sep 30, 2013 2:49am Sep 30, 2013 2:49am
Just bought AUD/USD @0.9305
SL : @0.9272
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-milkeyway
  • #66,751
  • Sep 30, 2013 3:03am Sep 30, 2013 3:03am
Long AUDCAD trail this dirty stop loss
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All posts are my personal opinion
  • #66,752
  • Sep 30, 2013 3:16am Sep 30, 2013 3:16am
This currency just makes me shake my head sometimes????????
  • #66,753
  • Sep 30, 2013 3:32am Sep 30, 2013 3:32am
Quoting SpartanTrade
This currency just makes me shake my head sometimes????????
Did you not go long?
IMO it was quite obvious that 9280 would offer at least a small bounce... if not a resumption of the larger ABC wave 4 I have indicated several times.
I know it's really tempting to be short this pair. In fact I want to short the crap out of it, but I'm waiting for better prices at or above 9480
Those who say it cannot be done should not interrupt those who are doing it
  • #66,754
  • Edited 3:53am Sep 30, 2013 3:37am | Edited 3:53am
Quoting 5percent
{quote} Last week support level 0.9338/40. main level of test for support turns resistance, clear will move up higher. 0.9320/25 may provide some temporary resistance, europe/us session support area. Lower hi -> 0.9368 and 0.9375, then 0.9402. Crossing 2 level of lower hi, primarily above 0.9402 will put aud on bullish view higher of pullback completion. Anything above 0.9402 will validate that previous resistance zone of 0.9280-0.9320 may channel into a resistance turns support channel to re-test 0.95 or higher. Today is monthly close, pivot for...
a close above 0.9326 will validate a base of support from 0.9280-0.9225.

Estimated target is for my long is 0.9375/67 and then 0.9400. If can get a good hour 4 and 1 above 0.9326. closing for bias.

Some hindrance at 0.9338/32 area of previous support of last week.

hour 1 higher lo at 0.9296 , an inversed h n s in my view.
  • #66,755
  • Sep 30, 2013 4:03am Sep 30, 2013 4:03am
Quoting 5percent
{quote} a close above 0.9326 will validate a base of support from 0.9280-0.9225. Estimated target is for my long is 0.9375/67 and then 0.9400. If can get a good hour 4 and 1 above 0.9326. closing for bias. Some hindrance at 0.9338/32 area of previous support of last week. hour 1 higher lo at 0.9296 , an inversed h n s in my view.
my platform show me closed below 0.9326.
  • #66,756
  • Sep 30, 2013 4:25am Sep 30, 2013 4:25am
Got +25 pips almost. Trade Closed.
Ref : Post #66770
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-milkeyway
  • #66,757
  • Sep 30, 2013 4:42am Sep 30, 2013 4:42am
Im going short @ .9344 TP .9254, Then long @ .92530 TP OPEN
  • #66,758
  • Sep 30, 2013 4:45am Sep 30, 2013 4:45am
Quoting PipTrapper
{quote} Did you not go long? IMO it was quite obvious that 9280 would offer at least a small bounce... if not a resumption of the larger ABC wave 4 I have indicated several times. I know it's really tempting to be short this pair. In fact I want to short the crap out of it, but I'm waiting for better prices at or above 9480
Yes, I have substantial long position built but shorted a retrace of the news drop earlier. Didn't expect a firm bounce after such poor data to be honest
  • #66,759
  • Sep 30, 2013 4:53am Sep 30, 2013 4:53am
Lets see what happens here
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  • #66,760
  • Sep 30, 2013 5:02am Sep 30, 2013 5:02am
Quoting SpartanTrade
{quote} Yes, I have substantial long position built but shorted a retrace of the news drop earlier. Didn't expect a firm bounce after such poor data to be honest
Let's see if I can shed some light on certain anomalies we tend to see in the market.

Anomaly: You get good data and the currency either doesn't move, or it goes the other way. WTF?
Reasons: Yep it happens under certain conditions. Either the market has already priced it in (front run the news), or the instrument is so technically overbought that only bad news would have moved it... or, such as in this case, there are more important events elsewhere and the market is focused on them.

Whilst mid to long term price moves based on the underlying macroeconomic fundamentals, the majority of market participants (traders not investors) don't give a toss about the news. Therefore the technicals become a self-fulfilling prophecy. News will most often "push" price past a pivot which flips the technical sentiment to the other side, but in the end, the technicals will make the intraday and sometimes intraweek moves. The macro-fundamental moves are made in the mid to long term through a series of price "push" events.
Those who say it cannot be done should not interrupt those who are doing it
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