{quote} Would appreciate if you explain how you manage w.o. stop-loss.
My strategy is not to use stop loss.
. Sent you a private message.
- #86,222
- Oct 31, 2014 9:41am Oct 31, 2014 9:41am
- Joined May 2010 | Status: Trader | 2,693 Posts
{quote} Hi LG,... Patience Bro...... Price inside daily trap area ...... 3 times rejected high and closed below the daily TL .... this week looks like aud be frozen in this area...... just wait and watching which way she will go ...... cheers,{image} {image}
here is the audusd still frozen on this area .....
2x D1 candle failure to make a new high ..... now going back to inside .... looks like to be going back to support area ...
patience ...... she play inside weekly master candle range also D1 MC range and the weekly candle looks like to be the fakey candle...
now look at USDx time to climb the new high free time to flying after break the D1 MC, make a new high may be around 89,xx or more
.....cheers
- #86,223
- Oct 31, 2014 9:49am Oct 31, 2014 9:49am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Long then short. These were my AUDUSD trades for 10.31.2014.
K.I.S.S.
K.I.S.S.
- #86,226
- Oct 31, 2014 10:34am Oct 31, 2014 10:34am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
{quote} Impeccable timing, indeed. R u using judicial S/R levels or maybe some additional indics not shown here ?
K.I.S.S.
- #86,227
- Oct 31, 2014 10:35am Oct 31, 2014 10:35am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
What is the point in posting trades after all positions are closed? "I was right!" factor?
K.I.S.S.
- #86,230
- Nov 1, 2014 4:23pm Nov 1, 2014 4:23pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
I would not be interested in any long trades on this pair until I see a bottom on the pull-back from the recent upswing. Also, tight consolidation right now, so wouldn't seem worth trading with a 20-30 pip target, unless you're into that sort of thing
As it stood at the end of last week, the bears are in control, having won the 50% retracement battle from this recent upswing.
Currently, on H1 time frame, (as mentioned above, and as shown in H1 chart attached) price is simply consolidating, looks like the beginning of a triangle formation, which could break out up or down. At this point, I'd guess it will break downward targeting 87ish. If it breaks out up, targeting 8890ish...
As it stood at the end of last week, the bears are in control, having won the 50% retracement battle from this recent upswing.
Currently, on H1 time frame, (as mentioned above, and as shown in H1 chart attached) price is simply consolidating, looks like the beginning of a triangle formation, which could break out up or down. At this point, I'd guess it will break downward targeting 87ish. If it breaks out up, targeting 8890ish...
- #86,231
- Edited 6:02pm Nov 1, 2014 5:38pm | Edited 6:02pm
I would not be in any long trades on this pair...etc {image}
, but allow me to respectfully disagree with your disinclination for Longs (sic "would not be interested in any long trades") , using your own picture .In fact, a longer view - from the beginning of October confirms that this Upward trend is much Longer and consistently confirmed.
As we see in the Longer period (the second image) the red lines form an upward Flag pattern (wedge) with 0.884 being its immediate resistance, while 0.89 as a potential level of attraction AND significant resistance.
Flags fail both ways - that is a well known truth...
Siddhartha G
I agree with Benaiah!
This thing is a technical bear market, we have no sign of a trend change. Just gotta be patient once it breaks out of this congestion zone to the downside we should be good.
USDJPY is a much better trade at the moment if your looking at trading the USD, but AUDUSD should weaken in the long term.
This thing is a technical bear market, we have no sign of a trend change. Just gotta be patient once it breaks out of this congestion zone to the downside we should be good.
USDJPY is a much better trade at the moment if your looking at trading the USD, but AUDUSD should weaken in the long term.
- #86,233
- Edited 6:14pm Nov 1, 2014 5:47pm | Edited 6:14pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
{quote} Time will show
If it breaks out down, and hits 87ish area, it would still be in an upward moving channel.
Also, I admit it could go either way, as already posted, so not sure what there is to "disagree" about.
Edit: adjusted image since it is H4 chart, verses H1 chart in prior post
- #86,235
- Nov 1, 2014 6:21pm Nov 1, 2014 6:21pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
{quote} A) I like your taste in colours ! In fact I will try to emulate your beautiful humingbird-blue with loquat-mauve combination for the up and down candles. Sincere thanks for the beautiful palette. B) Bigger picture is GOOD ! Evidently any lines are hardly needed - it is plenty obvious that the downward trend was crushingly strong, thus the MAIN CONFLICT OF THE DRAMA IS between TWO INTERPRETATIONS *) a temporary-"resting"-range interpretation - with continuation downwards soon to follow AND **) Corrective Rebound following an Oscillatory-Bottoming-Out...
Also, to clarify my leaning towards another swing low, because price is still on a downward move from the prior high, and will remain so, until it establishes itself above the 50% retracement level of that move. If it nudges up above that 50% level, then perhaps I would change my leaning towards near-term upward move. Until then, my leaning will remain bearish short-term. Conversely, I would expect to see some sort of reversal pattern on lower time frames that actually holds a bottom.
So, what I would need to see, is either an established bottom, or a break out of consolidation that says it will remain above that 50% retracement level. Until then, I lean towards another dip.
But again, I agree it could go either way, as breakouts tend to do whatever they will do regardless of what anyone's leaning is...
- #86,238
- Nov 2, 2014 8:13am Nov 2, 2014 8:13am
- Joined Sep 2011 | Status: Trader | 6,363 Posts
Enough of debates, 50% retacement, fibo, trendlines, moving averages, expectation, dips bla bla bla etc. JUST SHORT THE AUSSIE NOW. {image}
A good trader follows his rules, but great trader knows when to break them
{quote} Why ?
- #86,240
- Nov 2, 2014 8:45am Nov 2, 2014 8:45am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined