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AUD/USD

  • #84,001
  • Aug 18, 2014 10:48pm Aug 18, 2014 10:48pm
Quoting bluetoss
not really, look at 4 hr and daily chart, it's trending down. {quote}
Forgive the mess of a chart I pulled up- it's harmonics.

I added big fat red trend lines to show you exactly how it is in fact....trending up. The break of 23.6 was confirmation of trend reversal.

Don't worry though, we will be visiting that line again....probably before we visit 61.8 (my tp for the last long I'm holding)

The 4 hour chart is roughly the same
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  • #84,002
  • Aug 18, 2014 10:48pm Aug 18, 2014 10:48pm
if you are intraday, then it's fine. if you keep long term, then we win...

Quoting smash1820
Why are you guys short? I cannot understand this. I am wondering. If shorts are so good, then why did I just place this trade a few hours ago and it's already in profit? Oh, so you think it's going to fade? Think again. {image}
  • #84,003
  • Aug 18, 2014 10:54pm Aug 18, 2014 10:54pm
Quoting oztrader79
{quote} What a ridiculous comment. Why are you in profit? I don't know maybe you are scalping? Without knowing your SL and TP, short and long is meaningless. Why would I go short? on the 4hr we have now hit the 365, 200, and 150 EMA's. These may well act as good resistance for another wave down. Then again, price may just smash through it. We are also approaching the 50 Fib from the July Swing high and the round number of 0.9350 . Again this confluence of factors maybe prove to be strong resistance.
He's in profit because the reaction to the news worked in his favor. It wasn't necessarily a good trade...
  • #84,004
  • Aug 18, 2014 10:55pm Aug 18, 2014 10:55pm
Quoting RBlackburn
{quote} He's in profit because the reaction to the news worked in his favor. It wasn't necessarily a good trade...
The reaction could have easily been negative...in which case, he wouldn't be bragging.
  • #84,005
  • Aug 18, 2014 10:57pm Aug 18, 2014 10:57pm
Quoting smash1820
Why are you guys short? I cannot understand this. I am wondering. If shorts are so good, then why did I just place this trade a few hours ago and it's already in profit? Oh, so you think it's going to fade? Think again. {image}
Yeah it's too early to short, I think. I'm going to look around the weekly R1 as it shows a good supply level from the unemployment numbers a couple of weeks back. Last week (edit: the week before) we saw a lower low IMV so it's just a matter now of printing a lower high and we're away.

On your charts, well... I don't know much about Bolly bands. But what I see there is that the last few times you had a 4H close above the inner line, you had a pretty strong downside move afterwards - good enough to bounce across to the lower inner band at least. When you had a 4H close below the inner line, it only rebounded to the midpoint. I read that as "more pressure to the downside". The stoch looks bearish divergence on lower volume over this latest rally.

Anyway.. I don't really use those indies so I could be way wrong But I reckon we're getting ready for a move down. Your ADX chart has me thinking we might be due for a quick move too?
  • #84,006
  • Aug 18, 2014 10:57pm Aug 18, 2014 10:57pm
No offence meant.. but seriously.
  • #84,007
  • Aug 18, 2014 10:58pm Aug 18, 2014 10:58pm
Quoting RBlackburn
{quote} He's in profit because the reaction to the news worked in his favor. It wasn't necessarily a good trade...
I don't even know what news you're talking about. All I know, is I see a bullish chart. And yes, I am speaking more short-term than long-term.
Please check out my blog at https://from-zero-to-hero . net
  • #84,008
  • Aug 18, 2014 11:01pm Aug 18, 2014 11:01pm
Quoting Pharm0r
{quote} Forgive the mess of a chart I pulled up- it's harmonics. I added big fat red trend lines to show you exactly how it is in fact....trending up. The break of 23.6 was confirmation of trend reversal. Don't worry though, we will be visiting that line again....probably before we visit 61.8 (my tp for the last long I'm holding) The 4 hour chart is roughly the same {image}
May i just draw these broad red lines to show another view...
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  • #84,009
  • Aug 18, 2014 11:03pm Aug 18, 2014 11:03pm
Quoting smash1820
{quote} I don't even know what news you're talking about. All I know, is I see a bullish chart. And yes, I am speaking more short-term than long-term.
No worries and sorry.. i understand.
I also said earlier the 1hr TF was bullish and gave reasons why it could trade higher..before it did.

I think there's alot of confusion about how long people are holding these bias's for.

Good luck
  • #84,010
  • Aug 18, 2014 11:05pm Aug 18, 2014 11:05pm
Quoting RBlackburn
{quote} May i just draw these broad red lines to show another view... {image}
You may do and show whatever the hell you want. It doesn't mean you will make money though.

Heres a a question for you: do trends start on the 1 minute chart, or the 4 hour chart?
Please check out my blog at https://from-zero-to-hero . net
  • #84,011
  • Aug 18, 2014 11:11pm Aug 18, 2014 11:11pm
Quoting smash1820
{quote} You may do and show whatever the hell you want. It doesn't mean you will make money though. Heres a a question for you: do trends start on the 1 minute chart, or the 4 hour chart?
You certainly have the option as well (re: shown' and doing whatever the heck you want), HOWEVER, when you lose 30% of your account over 124 pips, that's hardly a strategy that indicates you have been making any money at this....yet also proves you're over leveraging yourself in a manner that will cause you problems if you don't get it under control.

Oh wait, and "recreated trade explorers because of dissatisfaction with your results" according to your own shout on your profile...

So, Mr. Smashing Pants, please give me a good reason why I should lend any credence whatsoever to your trades, your advice or your criticisms?
"Holy Grail" exists - accepting where is the first step.
  • #84,012
  • Aug 18, 2014 11:15pm Aug 18, 2014 11:15pm
Nice RR you got there- what is that 1:1?

Here is my view-but typically if I'm going to go back that far on a 4 hour chart...I'll just look at the D/wk

Good luck to you sir- either way, we can both win- as long as we hold long enough. The difference is- my trade cant lose, I can only make less.
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  • #84,013
  • Aug 18, 2014 11:15pm Aug 18, 2014 11:15pm
Quoting smash1820
{quote} You may do and show whatever the hell you want. It doesn't mean you will make money though. Heres a a question for you: do trends start on the 1 minute chart, or the 4 hour chart?
Lol...I was just showing a different longer term point of view for discussion purposes. And i do make money... for about 5yrs now. Thank you, i didn't mean to negate your bias.

Trend's don't start on any particular TF it's about price not time....
  • #84,014
  • Aug 18, 2014 11:19pm Aug 18, 2014 11:19pm
Quoting Pharm0r
Nice RR you got there- what is that 1:1? Here is my view-but typically if I'm going to go back that far on a 4 hour chart...I'll just look at the D/wk Good luck to you sir- either way, we can both win- as long as we hold long enough. The difference is- my trade cant lose, I can only make less. {image}
Thanks mate and good luck to you too...
My risk:reward is open atm... those levels are just the maximum and definitely not set in stone..
Good luck
  • #84,015
  • Aug 18, 2014 11:20pm Aug 18, 2014 11:20pm
Quoting smash1820
{quote} You may do and show whatever the hell you want. It doesn't mean you will make money though. Heres a a question for you: do trends start on the 1 minute chart, or the 4 hour chart?
That's the ticket, and therein lies my grief with FF from the beginning.

When giving advice, or trading strategy, its absolutely IMPERATIVE that you give your time frame and outlook....because there's almost always different trend directions on each- and we all trade different frames

I'm guilty of this as well. For me though, it's typically 4/d/wk (seldom)
  • #84,016
  • Aug 18, 2014 11:20pm Aug 18, 2014 11:20pm
Quoting RBlackburn
{quote} Thanks mate and good luck to you too... My risk:reward is open atm... those levels are just the maximum and definitely not set in stone.. Good luck
lol I'm just busting your balls
  • #84,017
  • Aug 18, 2014 11:21pm Aug 18, 2014 11:21pm
Seriously, lets have an argument between members who is right, and who is not. Why is it that everyone strives to prove how right they are? If a member disagrees that is their opinion, and should be entitled to it. Those that are long, best of luck and hope you make many green pips. Those that are short, best of luck and also hope you make many green pips.

The truth is that, both sides can be right according to what they see on their charts, and how they trade them. A scalper may see a long for 20-30pips, and a swing trader may see an over all short on a daily, or weekly chart. Both can be correct, but the only true player in this that can always be accurate and correct is the market itself.

Best of luck to all traders and have a green pip day/week to you all.
  • #84,018
  • Aug 18, 2014 11:22pm Aug 18, 2014 11:22pm
Quoting smash1820
{quote} I don't even know what news you're talking about. All I know, is I see a bullish chart. And yes, I am speaking more short-term than long-term.
for someone that has been here for more than 3 years and high impact member, does not check the homepage of this site.. is making me very hard to believe.

2nd, you posted H4 chart.. how short is your short term? a session? a day?

IMO you are just bragging..
  • #84,019
  • Aug 18, 2014 11:24pm Aug 18, 2014 11:24pm
Quoting HelloOz
{quote} for someone that has been here for more than 3 years and high impact member, does not check the homepage of this site.. is making me very hard to believe. 2nd, you posted H4 chart.. how short is your short term? a session? a day? IMO you are just bragging..
"Holy Grail" exists - accepting where is the first step.
  • #84,020
  • Aug 18, 2014 11:25pm Aug 18, 2014 11:25pm
Just noticed we're actually finding some resistance at the 123% ext (0.9347) of the last move down...
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