My Trading Course" http://www.kaishengchew.com
- #68,183
- Apr 2, 2014 10:40am Apr 2, 2014 10:40am
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #68,185
- Apr 2, 2014 10:59am Apr 2, 2014 10:59am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #68,187
- Apr 2, 2014 1:31pm Apr 2, 2014 1:31pm
{quote} AUDUSD Long Trade Update: Entered long #2, Scout as MMs bring price back down following the first spurt of buying after the USD release today. There are multiple AUD releases coming, so this move back down could be the MMs keeping price low for accumulation of longs ahead of the releases. PA is still above previous lows. It could go lower, of course, and if it does then I will have to reassess if MMs still appear as bulls looking for longs, or if signs of bears are back. {image}
With you old Boy - overhead daily resistance didn´t give much pullback.
Waiting for another leg up
H.
"The future is already written in the past"
- #68,194
- Apr 2, 2014 4:14pm Apr 2, 2014 4:14pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #68,195
- Edited 4:56pm Apr 2, 2014 4:43pm | Edited 4:56pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #68,196
- Edited 5:30pm Apr 2, 2014 5:09pm | Edited 5:30pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Although price has been in a range I am still short AU based on my analysis of PVSRA. The waves on the 1hr seem more convincing to me for the bear side as well as the higher volume at highs compared to lows. But as stated many times within the thread and the manual we can never know what the MM's will do next. Only time will tell. For now I will relax until AUD news later tonight {image}
Dyekid217 & All Sonicers,
This is a case that points out how valuable the M1 chart is as a part of any PVSRA. Note the MMs whacked the price, higher volume at lows, and then higher volume buying it right back up. This is a typical move, drop price while buying, then buy it back up, which equals lots of newly accumulated long positions without raising the price! Note also, this is all happening below the 1/2 Level where the MMs seem to be focused right now on doing as much trading as they can here. This is consistent with the premise of PVSRA that MMs prefer to build long below key S&R.
In just a few hours there will be multiple AUD high impact releases. Because it seems many are bearish, if the MMs are indeed bulls then it makes sense they will try to build long below this 1/2 Level, taking advantage of the bearish sentiment of others. And so, the MMs might push the price lower to trigger pending short orders, to suck in live shorters, and to trigger pending stop orders on longs,.....all of which would create liquidity for the MMs to accumulate long orders below the 1/2 Level. And maybe at some time, in conjunction with these releases, there will be more whipping and whacking to clear out the rest of the cobwebs!
I could be wrong, have been before. Time will tell.
-tah
- #68,197
- Apr 2, 2014 5:27pm Apr 2, 2014 5:27pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
{quote} AUDUSD: Dyekid217 & All Sonicers, This is a case that points out how valuable the M1 chart is as a part of any PVSRA. Note the MMs whacked the price, higher volume at lows, and then higher volume buying it right back up. This is a typical move, drop price while buying, then buy it back up, which equals lots of newly accumulated long positions without raising the price! Note also, this is all happening below the 1/2 Level where the MMs seem to be focused right now on doing as much trading as they can here. This is consistent with the premise...
I am still learning to adapt even years later! I am trying to focus more on money management right now as I believe I have decent entries.. It's finding the exit that seems to be the hardest!
Following up on these thoughts. What do you think of this pvsra? would MM's buy above the half number? I am still a newbie trying to learn
- #68,198
- Apr 2, 2014 5:32pm Apr 2, 2014 5:32pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} Thank you for the wonderful insight professor
{quote} MusicMoney, Please read Post #1 again. You have been asked to not post charts where the broker ID & TF overlap our market panel. I suggest you use our template and if you do not want the Dragon and some other features on, just turn them off using the indicator External user inputs to do so. Warning #2. As for trading this pair either way, it looks to me like AUD might be strengthening and so also CHF. Cannot be sure, but if this is the case then this is not a pair to be trading since AUD would exert upwards pressure while CHF would exert...
Chart fixed--sorry. I like to trade with a very "clean" chart --less is more, as they say
While we can't always predict the market; it's much easier to take it day by day , and take what it will give us. There is noted buying up into the whole number level--and if it means grabbing 30-50 pips back down to more buying, many people would be glad to do so. Trying to catch big moves in a market that ranges 80% of the time is nearly impossible. Accumulating pips are one thing; growing an account in a timely fashion another.
You had asked why I wasn't a millionaire the other day; even the well to-do can go from riches to rags when health issues arise; and even more so when death[s] occur.
Never presume; and expect the unexpected
- #68,200
- Edited 8:32pm Apr 2, 2014 8:14pm | Edited 8:32pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
