AUDUSD could be breaking out of consolidation. Going short also seems to be the popular consensus: {image}{image}
Man lie, woman lie, numbers don't
- #78,963
- Edited 6:41pm Feb 11, 2015 6:31pm | Edited 6:41pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #78,964
- Feb 11, 2015 6:46pm Feb 11, 2015 6:46pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #78,966
- Feb 11, 2015 7:22pm Feb 11, 2015 7:22pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} Well you were right! Thanks for the response, I think I overlooked some basic things there to try and do too much deep analysis. Thanks!
mangojango,
I do not mean to "butt in", so to speak, because bmun2348 had it correct. I just wish to reinforce what you have just now stated, "....overlooked some basic things....and do too much deep analysis."
We Sonikers - in fact, all traders - can fall into the traps of over analyzing and of coveting gains to the point of trying to pick highs or lows for entries. These are two temptations to be constantly on guard against.
PVSRA might seem like a bit of "heavy" analysis, at first. But, the more one gets involved with identifying the puzzle pieces that are keys to assembling the picture correctly, the more we can realize that it is an analysis.....yes,......but not really so "heavy" after all.
There are times when a Soniker is so familiar with how a pair is moving - as a result of ongoing PVSRA being well done - that when price has been manipulated to some high or low - perhaps as the result of a stop hunt - the trader will risk a Scout entry. Yes, this is picking a high or low for entry, but it is not doing it in quite the same "uniformed" way that many others attempt it.
"Let the Dragon and PA show the way!", is a battle cry here. It says it all. And it takes precedence over all analysis. Why analyze then? We analyze because: (1) try and stop any trader from doing it! and (2) we take what the market gives (Classic setups) even if they are contrary to analysis, and if they suddenly turn out to be head fakes, we have all the more reason to - and understanding of why to - quickly fold the red and reverse our trade.
-tah
- #78,974
- Feb 12, 2015 2:57am Feb 12, 2015 2:57am
So funny what happend in NU...
The act of the Robber Bank From UK on LO try to slaps the long and short retailer. Do you think u can deceive sonicers? not easy, cz we practice day by day, every hour on our trading activity to blink before ur stun hit us...
The act of the Robber Bank From UK on LO try to slaps the long and short retailer. Do you think u can deceive sonicers? not easy, cz we practice day by day, every hour on our trading activity to blink before ur stun hit us...
"Bulls make money, Bears make money, but hogs get slaughtered"
- #78,975
- Edited 4:31am Feb 12, 2015 3:30am | Edited 4:31am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EURUSD Long Trade Open/Close:
M15 setup entered. Small whip n' whack to exhaust liquidity for position building ahead of news. No TP, SL at this time. Is this a head fake, only to go south today? Have no way of knowing, but right now it is a bullish Classic. 
Closed for gain of 3.7 pips average, 73 pips total. Move died, and it involved a brief whip above half number, so could actually be bearish. Decided, rightly or wrongly, to take profit and wait to see what further develops. 
M15 setup entered. Small whip n' whack to exhaust liquidity for position building ahead of news. No TP, SL at this time. Is this a head fake, only to go south today? Have no way of knowing, but right now it is a bullish Classic.
Closed for gain of 3.7 pips average, 73 pips total. Move died, and it involved a brief whip above half number, so could actually be bearish. Decided, rightly or wrongly, to take profit and wait to see what further develops.
{quote} USDCAD This H&S (potential, because it isn't one until the price makes it back down to the neckline) is unusual because the wick on the right side of the head that determines the angle of the neckline is quite a bit further down than normal. Normally, it would be higher. Still, it is valid. The distance from the neckline to the TP is the same as the distance from the Head to the neckline. As you can deduce, the actual TP depends on when price crosses the neckline, since the neckline has an angle. Note that there are multiple USD high impact...
Man lie, woman lie, numbers don't
- #78,977
- Feb 12, 2015 4:23am Feb 12, 2015 4:23am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
