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  • #3,061
  • Nov 21, 2013 1:09am Nov 21, 2013 1:09am
Quoting Olu
AudUsd {image}
Will you sell now or wait for daily candle close?
  • #3,062
  • Nov 21, 2013 6:17am Nov 21, 2013 6:17am
Quoting trexy123
{quote} Will you sell now or wait for daily candle close?
Waiting for the candle to close is my best choice for trading the H&S pattern. However I am short based on another idea

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #3,063
  • Nov 21, 2013 7:55am Nov 21, 2013 7:55am
Quoting Olu
{quote} Waiting for the candle to close is my best choice for trading the H&S pattern. However I am short based on another idea Olu {image}
what is your other idea?
  • #3,064
  • Nov 21, 2013 11:38am Nov 21, 2013 11:38am
Quoting trexy123
{quote} what is your other idea?

Hi Trexy

Its jst price action trading. When I see bearish engulfing candles like the one on the audusd chart I normally sell the start of the next trading day hoping the momentum will continue. I missed the open but when I got back and saw that the price has moved in my expected direction plus bearish fundys from china I jumped in straightaway. It has paid off today

Olu
If you think you can or cannot do it you are correct
  • #3,065
  • Nov 21, 2013 2:03pm Nov 21, 2013 2:03pm
AudUsd

Closed my short because of below.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-2h-21112013-2200uk.jpg Size: 99 KB
If you think you can or cannot do it you are correct
  • #3,066
  • Nov 21, 2013 11:34pm Nov 21, 2013 11:34pm
$ is pulling back. next support at 80.5, then at the upper-border of the pennant. I closed my EU short yesterday on intraday as well as my short gold. Oil broke the down-channel to up, Gold put a doj, and Dow is trying up again. I joind long EU and long Oil as fast swings for the moment. Is a bit early to find out if it is a pullback or $ will go bearish. Will keep monitoring on intraday base. Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: $-2211.png Size: 14 KB
  • #3,067
  • Nov 22, 2013 2:36am Nov 22, 2013 2:36am
Note to self:- stay in your trade that is going your way.

Missed the rest of the downmove in the audusd today. Trying to get a better entry.

Olu
If you think you can or cannot do it you are correct
  • #3,068
  • Nov 22, 2013 2:48am Nov 22, 2013 2:48am
Quoting rehab
$ is pulling back. next support at 80.5, then at the upper-border of the pennant. I closed my EU short yesterday on intraday as well as my short gold. Oil broke the down-channel to up, Gold put a doj, and Dow is trying up again. I joind long EU and long Oil as fast swings for the moment. Is a bit early to find out if it is a pullback or $ will go bearish. Will keep monitoring on intraday base. Cheers {image}

I agree with your analysis on the $ unless the most recent bottom (79) is taken out.

Crude I am looking for a sell around 98.00
If you think you can or cannot do it you are correct
  • #3,069
  • Nov 22, 2013 3:02am Nov 22, 2013 3:02am
Quoting Olu
{quote} I agree with your analysis on the $ unless the most recent bottom (79) is taken out. Crude I am looking for a sell around 98.00

Yes Olu, I have my initial TP of Oil around that level, however, I might remove it and watch the price action to decide whether to leave it or to go short.
For $, yes 79 is the key, but I do not think if $ will go bearish that level will be broken easily, it lays near/ at a super-long term up trend-line (check out the monthly-yearly chart). But everything is possible in forex.
  • #3,070
  • Nov 22, 2013 5:58am Nov 22, 2013 5:58am
Quoting rehab
{quote} Yes Olu, I have my initial TP of Oil around that level, however, I might remove it and watch the price action to decide whether to leave it or to go short. For $, yes 79 is the key, but I do not think if $ will go bearish that level will be broken easily, it lays near/ at a super-long term up trend-line (check out the monthly-yearly chart). But everything is possible in forex.
I agree Rehab. That 8050 area looks very strong indeed...
olu
If you think you can or cannot do it you are correct
  • #3,071
  • Nov 22, 2013 6:30am Nov 22, 2013 6:30am
The Commodity Currencies are taking a big hit. Not to worry the euro and gbp will soon follow...
Attached Images
If you think you can or cannot do it you are correct
  • #3,072
  • Nov 22, 2013 10:29pm Nov 22, 2013 10:29pm
time to sell?
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  • #3,073
  • Nov 23, 2013 12:51pm Nov 23, 2013 12:51pm
The week for me didnt go to plan and the main reason I was net profitable was me taking what the market gave me.

I got the euro breakdown, the jpy weakness breakout and the audusd breakdown. I had been bleating on and on about then last week that it would be criminal not to have made anything of the move when they finally happened. Where I didnt do well was closing the trades too early. I missed the 2nd day continuation moves in the audusd sell off and the usdjpy upmove. That wasnt good. On the other hand I would have lost all the eurusd profit if I had stayed in.

My normal way of trading would have caught these continuations but recently the markets have been so wild that mentally I harvested any 100pips profit I made. See how volatility changed produced a changed of plan.

Anyway back to next week. I will try to get back on track and holding my trades if they offer the opportunity to do so.
If you think you can or cannot do it you are correct
  • #3,074
  • Nov 23, 2013 12:51pm Nov 23, 2013 12:51pm
Dollar Index
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If you think you can or cannot do it you are correct
  • #3,075
  • Nov 23, 2013 1:01pm Nov 23, 2013 1:01pm
Quoting trexy123
time to sell? {image}

Hi Trexy123

I am so looking for a sell in the gbpusd.
As you showed on the chart price is nearing the top of the channell. So we need to keep on the lookout. Some news has to come out in the US or Europe bringing tapering or US comparative strength into focus again for us to get the turn we are looking for. I.e Fundamentals and Technicals have to work together on this one imho. I do not want us to see 1.6341 taken out.
Thanks Trexy for the chart
If you think you can or cannot do it you are correct
  • #3,076
  • Nov 23, 2013 1:22pm Nov 23, 2013 1:22pm
NzdUsd
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If you think you can or cannot do it you are correct
  • #3,077
  • Nov 23, 2013 1:39pm Nov 23, 2013 1:39pm
AudUsd
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Attached Image
If you think you can or cannot do it you are correct
  • #3,078
  • Nov 23, 2013 1:56pm Nov 23, 2013 1:56pm
Gold
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If you think you can or cannot do it you are correct
  • #3,079
  • Nov 23, 2013 2:16pm Nov 23, 2013 2:16pm
Bonds
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If you think you can or cannot do it you are correct
  • #3,080
  • Nov 23, 2013 4:43pm Nov 23, 2013 4:43pm
AudNzd
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AudNzd-weekly-23112013.jpg Size: 86 KB
Click to Enlarge Name: AudNzd-Monthly-23112013.jpg Size: 128 KB
If you think you can or cannot do it you are correct
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