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  • #77,501
  • May 21, 2014 1:03am May 21, 2014 1:03am
  •  EDG
  • | Joined Feb 2007 | Status: Nothing is fixed. Keep an open mind | 229 Posts
Quoting Banabukari
Dear Traders, Could anyone explain what this chart tells us? Thanks n Regards, Bana {image}
A visual interpretation of your chart would be that price is declining but at a diminshing rate (ie. may be heading for a turning point)
Hindsight is useless if you never learn anything out from it
  • #77,502
  • May 21, 2014 1:16am May 21, 2014 1:16am
Quoting Balmain Boy
{quote} {image} 0.2 pip spread - whose your broker ??
pepperstone.. nice hey, but on razor account so I pay for it, oh trust me I pay for it.
A genius is born every minute, me I am lucky if my socks match.
  • #77,503
  • May 21, 2014 1:21am May 21, 2014 1:21am
Quoting Didgeridoo
for me, fundamentals = bearish, but technicals = s/t bullish .
I beg to differ, technically bullish unlikely, cos there is no bullish engulfing confirmation pattern formed. Price action still weak.
The true fact is market doesn't care, risk mgt is important.
  • #77,504
  • May 21, 2014 1:25am May 21, 2014 1:25am
Quoting EDG
{quote} A visual interpretation of your chart would be that price is declining but at a diminshing rate (ie. may be heading for a turning point)
Thanks for the answer. Let see what will happen. I see it as a bearish continuation due to its divergence.
Good Luck EDG!
  • #77,505
  • May 21, 2014 1:27am May 21, 2014 1:27am
Quoting Ssm
{quote} I beg to differ, technically bullish unlikely, cos there is no bullish engulfing confirmation pattern formed. Price action still weak.
Weekly ichi is showing a nice steady drop to the 0.90216 ish mark but this is 4+ weeks away. We are tracing the cloud nicely at the moment and it is showing a very large amount of resistance.

This is not to say that some longs could be achieved in this time frame but for me we are 100% in a bear trend.
A genius is born every minute, me I am lucky if my socks match.
  • #77,506
  • May 21, 2014 2:05am May 21, 2014 2:05am
Quoting armaros
Who did cut long position in loss?
I am still holding mine. I am in ass. I know.
  • #77,507
  • May 21, 2014 2:15am May 21, 2014 2:15am
Quoting armaros
{quote} Yes ofc exchange trading ideas. But I saw these days from med and high impact members "I take long now, need to rebounce soon". And that was 80-100 pip higher. Now if someone beginner trader read this posts maybe took longs and now they are in high DD. I wrote that because of these members I hope next time explain better they position taking what - why they are doing. I think most of people here want to learn and not only following.
well depends if you are position swing daytrade or scalper. A stoploss of 400 pips is not a bad thing
All posts are my personal opinion
  • #77,508
  • May 21, 2014 3:30am May 21, 2014 3:30am
I guess it will go further down to somewhere ~0.900 last to the coming week. Be careful pals !
  • #77,509
  • May 21, 2014 3:46am May 21, 2014 3:46am
Quoting armaros
{quote} Yes ofc exchange trading ideas. But I saw these days from med and high impact members "I take long now, need to rebounce soon". And that was 80-100 pip higher. Now if someone beginner trader read this posts maybe took longs and now they are in high DD. I wrote that because of these members I hope next time explain better they position taking what - why they are doing. I think most of people here want to learn and not only following.
I see .

My advice is ask them when they post, (sometimes guys post only charts),
if u get answer thats ok, if not . do not care about his call or his analyses and be aware that traders are not saying to the same thing same, some are scalpers get in and out in minutes or seconds, others holds for 2 or 5 days, others holds for weeks and months. every one has his target and his method you must know this also.


30 min chart need to confirm that support hold



trade safe
Attached Image
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #77,510
  • May 21, 2014 4:16am May 21, 2014 4:16am
Quoting Zircon
{quote} I see . My advice is ask them when they post, (sometimes guys post only charts), if u get answer thats ok, if not . do not care about his call or his analyses and be aware that traders are not saying to the same thing same, some are scalpers get in and out in minutes or seconds, others holds for 2 or 5 days, others holds for weeks and months. every one has his target and his method you must know this also. 30 min chart need to confirm that support hold trade safe {image}
it holds.


Edit : trade your own chart and method,... we are just saying bla bla bla


trade safe.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #77,511
  • May 21, 2014 6:05am May 21, 2014 6:05am
Part 3
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  • #77,512
  • Edited 6:45am May 21, 2014 6:11am | Edited 6:45am
GBP/AUD , GBP/NZD largest 4 day gain since jan 2014.

bang on resistance, its had a heavy move, needs a rest.

at some point worth entering some shorts i think?
  • #77,513
  • May 21, 2014 9:15am May 21, 2014 9:15am
Looks like the bounce for AUD/USD for me. The last long before 28-May-2014 in my opinion.
Don't blame the tools. Blame the carpenter.
  • #77,514
  • May 21, 2014 9:21am May 21, 2014 9:21am
Quoting Halba
GBP/AUD , GBP/NZD largest 4 day gain since jan 2014. bang on resistance, its had a heavy move, needs a rest. at some point worth entering some shorts i think?
GBP/AUD definitely looks shortable 'round these parts...I put a small one on....
"Holy Grail" exists - accepting where is the first step.
  • #77,515
  • May 21, 2014 9:26am May 21, 2014 9:26am
Entered Aussie Long here last point lots of demand from the zone can expect 20+ pip bounce.
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All posts are my personal opinion
  • #77,516
  • May 21, 2014 9:28am May 21, 2014 9:28am
Went long agian @ 9210. Will cut loses on a 4hr candle close below 92

Regards,
  • #77,517
  • May 21, 2014 9:33am May 21, 2014 9:33am
Taking a long here, and will add another if it goes down to 0.9180+.
  • #77,518
  • May 21, 2014 9:44am May 21, 2014 9:44am
It looks to me like a lot of people are trying to predict the turning point, the very bottom, and going long in a short-term trend.

Sell in May and go away is the norm for the day. It's not exactly risk-off, but it's take profit time in a big way.

It also looks like when it turns around it's going to look like a huge fake-out.

In order to predict the what the chart is going to look like, look into the future for what the news is going to be, and I don't mean the usual employment figures or interest rate announcements.

But what quarterly or annual numbers or events might occur in the next month, two or three. Those will be the major trend turning points that will turn this thing around.

Outside of that, only a strong support price will allow the Aussie to fart around at a certain number, possibly .9200, but I'm not trying to imply anything, just an example.
  • #77,519
  • May 21, 2014 9:47am May 21, 2014 9:47am
took long at 0.9212 target 0.9310
Forex Learner
  • #77,520
  • May 21, 2014 11:18am May 21, 2014 11:18am
I better waiting price hit blue zone for long
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