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AUD/USD

  • #80,561
  • Jun 24, 2014 10:51am Jun 24, 2014 10:51am
Quoting Matts Micro
I spoke a lot about my TL's so I will share one of my AU charts. Most of my TL's get honored by at least a touch and a pullback before being broken as can be seen by the latest move down with a near precise touch of the predrawn TL. {image}
those look like some really nice lines, keep up the good work!
  • #80,562
  • Jun 24, 2014 10:52am Jun 24, 2014 10:52am
Quoting albchr
{quote} But....but.... .... that 2% goal is a TWO year plan.....no Mr. Kudro? ......
Yes, it's about done. Well, just leave the trades open for +swaps and rainy days
  • #80,563
  • Jun 24, 2014 10:54am Jun 24, 2014 10:54am
Quoting Ken A
{quote} Yes, it's about done. Well, just leave the trades open for +swaps and rainy days
Ghost Rider - WWTBMD?
  • #80,564
  • Jun 24, 2014 10:56am Jun 24, 2014 10:56am
Quoting nealpek
{quote} those look like some really nice lines, keep up the good work!
Thanks.


Looks like like Gold has pulled back from its daily BO but it should be back within the next few days imo.
As the lights go by so too do the shadows move
  • #80,565
  • Jun 24, 2014 11:06am Jun 24, 2014 11:06am
EA finally pulled back to the Daily TL now it should be safe for it to go lower imo. PA could create a divergence on the next pullback if it gets a new LL though, it could be preparing for reversal.
As the lights go by so too do the shadows move
  • #80,566
  • Jun 24, 2014 11:08am Jun 24, 2014 11:08am
i totally see your point...think i'll start using these! just help me for a moment, which one should i follow? anybody?
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  • #80,567
  • Jun 24, 2014 11:18am Jun 24, 2014 11:18am
Quoting nealpek
i totally see your point...think i'll start using these! {image}
It takes a bit of practice to get a "feel" for where they should go. Some people will say that TL's should only be drawn from bodies of candles but that's bollox imo. Sometimes they belong to the body sometimes off the wick. Its about capturing the most action within the TL. Throw a fib's and/or MA's into the mix and some interesting patterns can start to show.

GL.
As the lights go by so too do the shadows move
  • #80,568
  • Jun 24, 2014 11:26am Jun 24, 2014 11:26am
like this? i think i'm starting to see some interesting things.... i think your right...thanks brother!
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  • #80,569
  • Jun 24, 2014 11:36am Jun 24, 2014 11:36am
Quoting nealpek
like this? i think i'm starting to see some interesting things.... i think your right...thanks brother! {image}

np.
Careful not to draw too many as it will confuse your chart and ultimately yourself. Try to find the most respected lines and ignore the shorter term lines (though I use when monitoring a trade and delete later). Use lines that have been touched at least three times else it starts becoming guess work, though that can work too. Here is a daily view of a few lines I am watching. See how the lines are converging? It is the same concept as bollinger b., imo I think there should be a bo/trend trade fairly soon.
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As the lights go by so too do the shadows move
  • #80,570
  • Jun 24, 2014 11:42am Jun 24, 2014 11:42am
Quoting Matts Micro
{quote} np. Careful not to draw too many as it will confuse your chart and ultimately yourself. Try to find the most respected lines and ignore the shorter term lines (though I use when monitoring a trade and delete later). Use lines that have been touched at least three times else it starts becoming guess work, though that can work too. Here is a daily view of a few lines I am watching. See how the lines are converging? It is the same concept as bollinger b., imo I think there should be a bo/trend trade fairly soon. {image}
thanks matts, don't know if i can wrap my head around all of this new stuff, it will take me a while to absorb.
i guess i'll just have to experiment with different configurations of TL's Fibs and MA's to get just the right mix.
much appreciated...
  • #80,571
  • Jun 24, 2014 11:43am Jun 24, 2014 11:43am
Quoting Matts Micro
{quote} np. Careful not to draw too many as it will confuse your chart and ultimately yourself. Try to find the most respected lines and ignore the shorter term lines (though I use when monitoring a trade and delete later). Use lines that have been touched at least three times else it starts becoming guess work, though that can work too. Here is a daily view of a few lines I am watching. See how the lines are converging? It is the same concept as bollinger b., imo I think there should be a bo/trend trade fairly soon. {image}

The convergence is also one of the hints that PA is in a S&D area that I have to referred to earlier.
It's just about playing with it until you find what's right for you. Though I wouldn't suggest trading from TL's if your not used to the idea and perhaps use demo till you feel right about using them.
As the lights go by so too do the shadows move
  • #80,572
  • Jun 24, 2014 11:44am Jun 24, 2014 11:44am
Quoting nealpek
{quote} thanks matts, don't know if i can wrap my head around all of this new stuff, it will take me a while to absorb. i guess i'll just have to experiment with different configurations of TL's Fibs and MA's to get just the right mix. much appreciated...
No prob, GL.
As the lights go by so too do the shadows move
  • #80,573
  • Jun 24, 2014 11:47am Jun 24, 2014 11:47am
looks like i have a lot of homework to do...
  • #80,574
  • Jun 24, 2014 1:31pm Jun 24, 2014 1:31pm
Quoting albchr
{quote} ... Cool ... I really miss being able to trade both ways... Hmmmm.... maybe I shouldn't be to short after all. {image}
....
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Ghost Rider - WWTBMD?
  • #80,575
  • Jun 24, 2014 1:43pm Jun 24, 2014 1:43pm
Quoting albchr
{quote} .... {image}
Hey albchr. I do that all the time. It's a nice confidence booster without the risk. Markets not going anywhere so plenty more opportunity

btw nice news reminder you got going there. I am a shocker for news, its like- "Why did my charts move so much?.... oh NFP...."
As the lights go by so too do the shadows move
  • #80,576
  • Jun 24, 2014 1:50pm Jun 24, 2014 1:50pm
Quoting Matts Micro
{quote} Hey albchr. I do that all the time. It's a nice confidence booster without the risk. Markets not going anywhere so plenty more opportunity btw nice news reminder you got going there. I am a shocker for news, its like- "Why did my charts move so much?.... oh NFP...."
Oh, I'm not too concerned with the UJ Matts. I have my hands in a few pairs right now. Just snagged EU on the spike with a limit sell at 3613. One more for the pile and all.

Yeah, I don't really care about what the news is. But I do care about when.
Ghost Rider - WWTBMD?
  • #80,577
  • Jun 24, 2014 1:58pm Jun 24, 2014 1:58pm
Quoting albchr
{quote} Oh, I'm not too concerned with the UJ Matts. I have my hands in a few pairs right now. Just snagged EU on the spike with a limit sell at 3613. One more for the pile and all. Yeah, I don't really care about what the news is. But I do care about when.
Nice work. That spike was a little unexpected. Possibly looks like more USD weakness on the way imo. Not sure how much it's going to affect the AU though.

Late here (or early) in the land of Oz, going to crash out. Later
As the lights go by so too do the shadows move
  • #80,578
  • Jun 24, 2014 2:00pm Jun 24, 2014 2:00pm
I'm risking 50% of my margin on AUD/USD long right now at 0.93788.
I'm young....there's no reason not to be risky when investing when you're young...right?
AUD hit 0.93700 area and rebounded back up. Trend has been going up the last few months...
MACD shows at -0.0010 on the monthly chart.

the right move is long here
  • #80,579
  • Jun 24, 2014 2:03pm Jun 24, 2014 2:03pm
Quoting Matts Micro
{quote} Nice work. That spike was a little unexpected. Possibly looks like more USD weakness on the way imo. Not sure how much it's going to affect the AU though. Late here (or early) in the land of Oz, going to crash out. Later
Well, the speed of it perhaps. But not the reach of it.

Have a nice rest.

Anyway I must get back to my chores now. See you all in Tokyo at some point. Trade safe.
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Ghost Rider - WWTBMD?
  • #80,580
  • Jun 24, 2014 2:41pm Jun 24, 2014 2:41pm
Hey guys looks like aud/usd is preparing to move up again. I was thinking of entering now because it rebounded on one of my points. 82.00 fibo level is a very strong point. I believe it will rebound from here. I am looking to see if in the next couple of hours before the speech today, aud/usd gives me a high I can use to draw a trendline in the 1 hour chart. WAIT.. I just found a way in the 4hr chart.. I have wave system for the 4hr chart. As you can see in 4 hr chart the price hit my 82.00 fibo level on 6/23/14 at 00.00 hours making a bullish candle reversal. So, price ONCE again wanted to test these level so HISTORY repeats itself. I just bought when price came down and went through the bullish candle @0.93723 and making a low of 0.93701 and came back up and close at 0.9377. I entered a long order with my stop loss 30 pips from 0.93701 @0.93401. I always use a 30 pip stop. I always welcome comments! Also I offer mentoring. Paid mentoring of course, if anyone is interested!
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