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AUD/USD

  • #68,041
  • Oct 17, 2013 12:31pm Oct 17, 2013 12:31pm
How about this?
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4m.png Size: 75 KB
  • #68,042
  • Oct 17, 2013 1:14pm Oct 17, 2013 1:14pm
Quoting umair55
{quote} yeah I know but m gonna hold it till it my tp @92.80
But ask yourself is it worth holding on to for weeks, months just so you can say you weren't long? Only reason I say that is you are -200 pips or so and would need a 400 pip drop to reach your tp.

Is there a reasonable time frame you see this happening? Please don't take this an being negative. I just find it odd that some traders will hold on to a bad trade and miss the countless opportunities the markets throw at us. Seems like the opportunity cost for that trade is too high.
When the facts change I change my mind, what do you do sir
  • #68,043
  • Oct 17, 2013 1:48pm Oct 17, 2013 1:48pm
Quoting Pip Anon
{quote} But ask yourself is it worth holding on to for weeks, months just so you can say you weren't long? Only reason I say that is you are -200 pips or so and would need a 400 pip drop to reach your tp. Is there a reasonable time frame you see this happening? Please don't take this an being negative. I just find it odd that some traders will hold on to a bad trade and miss the countless opportunities the markets throw at us. Seems like the opportunity cost for that trade is too high.
eyes on Chinese GDP
  • #68,044
  • Oct 17, 2013 1:52pm Oct 17, 2013 1:52pm
Quoting umair55
{quote} eyes on Chinese GDP
OK, but was that your plan all along or you just praying for a good outcome lol If its good, ouch. Even if it disappoints, AUDUSD with dollar weakness should not drop significantly outside a knee-jerk
When the facts change I change my mind, what do you do sir
  • #68,045
  • Oct 17, 2013 2:06pm Oct 17, 2013 2:06pm
if indicators work , why they are free ?
im asking this , cause i see a lot of you know to use many types of indecators .
Actually , if they working , could someone tell me where i can learn most important indecators

thnx
  • #68,046
  • Oct 17, 2013 2:19pm Oct 17, 2013 2:19pm
Quoting Pip Anon
{quote} OK, but was that your plan all along or you just praying for a good outcome lol If its good, ouch. Even if it disappoints, AUDUSD with dollar weakness should not drop significantly outside a knee-jerk
yeah man...!!! USD will bounce back soon...
and if m not wrong RBA Steven's remarks also on edge...so dude u never know
  • #68,047
  • Oct 17, 2013 2:52pm Oct 17, 2013 2:52pm
Quoting Aoh
if indicators work , why they are free ? im asking this , cause i see a lot of you know to use many types of indecators . Actually , if they working , could someone tell me where i can learn most important indecators thnx
That all depends on your trading style.

There are no indicators that will produce a holy grail system. Some will give you 100% success for a couple of weeks and then fail you for the next several weeks. It also depends which time frame you are trading.

In lower time frames (M15 and lower), the best approach is divergence trading with trend lines, fibo levels and moving averages, but that only works well if the fundamentals are aligned with the indicators, or if there are no economic data releases scheduled... especially major risk events which the market is trying to price in.

On higher time frames, you need a deep understanding of the macroeconomic and political playing field and how different events cause capital to flow from one currency to another and from one asset class to another based on risk appetite/aversion, yield differentials and commercial activity.

A good starting point would be the basic tool set which includes what I have mentioned above and stick to the H1 or M15 chart for intraday trading.

Just to recap, the tools are:
1. Moving averages (55,100 and 200 ema on close price)
2. Fibo tool with 0, 23.6, 38.2, 50, 61.8, 78.6, 88.6, 100, 127, 141 and 161.8 levels programmed in.
3. A MacD indicator with histogram set to 12,26,9 for convergence and divergence indication.
4. An RSI 5 (Or better yet RSX 5) to indicate O/B (above 80) and O/S (below 20) levels.
5. The use of trend lines or equidistant channels to give you an early indication of end-of-trend once a trend line is broken.

Play with the above for a while and study the charts to see where it gets you. Take virtual trades until you discover a system that matches your personality and makes you profitable. There are literally thousands of different indicators out there. Many try to be creative in order to find their edge, but for starters, you want to keep it as simple as possible.

For details on how to use the above indies, and also how to recognize common chart and candlestick patterns, you can visit http://www.babypips.com

Best of luck
Those who say it cannot be done should not interrupt those who are doing it
  • #68,048
  • Oct 17, 2013 2:57pm Oct 17, 2013 2:57pm
Quoting Serban
How about this? {image}
Yes quite conceivable.
Those who say it cannot be done should not interrupt those who are doing it
  • #68,049
  • Oct 17, 2013 2:59pm Oct 17, 2013 2:59pm
Quoting PipTrapper
{quote} That all depends on your trading style. There are no indicators that will produce a holy grail system. Some will give you 100% success for a couple of weeks and then fail you for the next several weeks. It also depends which time frame you are trading. In lower time frames (M15 and lower), the best approach is divergence trading with trend lines, fibo levels and moving averages, but that only works well if the fundamentals are aligned with the indicators, or if there are no economic data releases scheduled... especially major risk events...
thanks a lot for this great reply
cause im just trading with drawing supply and demand levels
  • #68,050
  • Oct 17, 2013 3:15pm Oct 17, 2013 3:15pm
Quoting Aoh
{quote} thanks a lot for this great reply cause im just trading with drawing supply and demand levels
Supply and demand works well also, but the other tools will allow you to validate the strength of the supply and demand zones.
Those who say it cannot be done should not interrupt those who are doing it
  • #68,051
  • Oct 17, 2013 3:29pm Oct 17, 2013 3:29pm
US Non-Farm Payroll report for September to be released on Tuesday October 22nd
Those who say it cannot be done should not interrupt those who are doing it
  • #68,052
  • Oct 17, 2013 3:40pm Oct 17, 2013 3:40pm
Quoting Likerty
{quote} Dont want to reveal my magic for public If it will hasitate at 09632 it could be ragarded as small confirmation for mentioned target as this is the exact midpoint
Here it goes...
69
  • #68,053
  • Oct 17, 2013 3:49pm Oct 17, 2013 3:49pm
Quoting Likerty
{quote} Here it goes...

so does it go higher from here or lower?


not sure what you are saying.

thanks.

Faller.
I don't trust any move - when you have profit...take it.
  • #68,054
  • Edited 4:17pm Oct 17, 2013 3:54pm | Edited 4:17pm
Quoting Faller
{quote} so does it go higher from here or lower? not sure what you are saying. thanks. Faller.
It means that its targeting 1.0370's. Will it reach it - lots of vairables on the way up (and lots of pips too ). Retracements are the most difficult part in tech analysis and I hope that it will retrace from here or (from higher) in order to load more agresively, its tricky...
In the nutshell - it's showing great bullish promise.
69
  • #68,055
  • Oct 17, 2013 3:57pm Oct 17, 2013 3:57pm
All week long with no retracement........ unbelievable, but this is forex market............ hard lesson...... I hope so......
Don't give up
  • #68,056
  • Oct 17, 2013 4:25pm Oct 17, 2013 4:25pm
Quoting umair55
{quote} yeah man...!!! USD will bounce back soon... and if m not wrong RBA Steven's remarks also on edge...so dude u never know
You may never know. This is true in a dynamic market.

My question is this:

Would have been less frustrating cutting your loss at .95 from .9440 and re enter a short at .965? Time vested seems price paid enough.
When the facts change I change my mind, what do you do sir
  • #68,057
  • Oct 17, 2013 4:29pm Oct 17, 2013 4:29pm
anybody else think this china data is set up for disappointment?
  • #68,058
  • Oct 17, 2013 4:31pm Oct 17, 2013 4:31pm
Quoting iNSIELD
anybody else think this china data is set up for disappointment?
please, anyone could explain me how china data will affect this pair?

many thanks
Don't give up
  • #68,059
  • Oct 17, 2013 4:34pm Oct 17, 2013 4:34pm
Quoting geomink
{quote} please, anyone could explain me how china data will affect this pair? many thanks
the most important is how market makers will interpret China Data...
The Market pays you to be disciplined
  • #68,060
  • Oct 17, 2013 4:40pm Oct 17, 2013 4:40pm
Quoting mima
{quote} the most important is how market makers will interpret China Data...
thank you
I'll try to take my short
wanna see if tomorrow it'll reverse (I hope)
what do you thnik about it?
was it today the top?
sydney session is began with aud weak

thx
Don't give up
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