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AUD/USD

  • #94,821
  • Jan 21, 2016 3:14pm Jan 21, 2016 3:14pm
too a trade long on AUSD.

Any pointers? watch out?
Attached Image (click to enlarge)
Click to Enlarge Name: AUSD daily.jpg Size: 267 KB
FXafrica " it is in giving that you receive..."
  • #94,822
  • Jan 21, 2016 3:20pm Jan 21, 2016 3:20pm
Quoting Ken A
{quote} Basically I am only looking at Daily chart - I place the long near the bottom range w/ stops few pips below {image}
I'm still short from 0.6925, also short from way down on AUD/JPY and CAD/JPY, some 800 down net now dml
  • #94,823
  • Jan 21, 2016 3:21pm Jan 21, 2016 3:21pm
Quoting Ken A
{quote} Basically I am only looking at Daily chart - I place the long near the bottom range w/ stops few pips below {image}
I kinda do that too, but I have some problem to know where should I leave and where should I enter...
  • #94,824
  • Jan 21, 2016 3:26pm Jan 21, 2016 3:26pm
Quoting Don96
{quote} I'm still short from 0.6925, also short from way down on AUD/JPY and CAD/JPY, some 800 down net now dml

Don96

you need to close these trades and take the loss. Except if this loss is still within your trading plan
If you think you can or cannot do it you are correct
  • #94,825
  • Jan 21, 2016 3:31pm Jan 21, 2016 3:31pm
Quoting Ken A
{quote} OK I am kinda mixed technical w/ fundamental based on what is driving the market to sell or buy AUD - if the market is selling I will get out of longs Technically, I might try to sell around .73x if it will ever get there because all the supply/seller are sitting there
Im worried about my shorts, i have 3, 0,6860 - 0,6905 and 0,6935
  • #94,826
  • Jan 21, 2016 3:38pm Jan 21, 2016 3:38pm
Quoting marcs4
{quote} Im worried about my shorts, i have 3, 0,6860 - 0,6905 and 0,6935
Well I can't tell you what to do - but looking at the H1 chart - price already break out from X and if the Day close above it - it is save to assume that price will go to test XX

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 83 KB
  • #94,827
  • Edited 3:56pm Jan 21, 2016 3:45pm | Edited 3:56pm
Quoting Ken A
{quote} Well I can't tell you what to do - but looking at the H1 chart - price already break out from X and if the Day close above it - it is save to assume that price will go to test XX {image}
And that XX is the last stand for me! Hope it return
  • #94,828
  • Jan 21, 2016 5:09pm Jan 21, 2016 5:09pm
Had a few small longs overnight, didn't expect them to do this well. On the 4h, testing resistance and 100d ema at 702, if it breaks it on the 4h, I will add longs to sl at 700, current sl at 697, maybe will tighten as I'm not sure if it will go higher.
  • #94,829
  • Jan 21, 2016 6:19pm Jan 21, 2016 6:19pm
Quoting Ken A
{quote} Update: AU still long EA long +100 pips so far - already closed half Waiting for Asia session

Posted live not after the facts and after winning {image}
Add EAUD long - risk 25 pips
  • #94,830
  • Jan 21, 2016 7:49pm Jan 21, 2016 7:49pm
Quoting Ken A
{quote} Well I can't tell you what to do - but looking at the H1 chart - price already break out from X and if the Day close above it - it is save to assume that price will go to test XX {image}
Beautiful entry Ken. Watching you for some time now, an excellent trader. Keep it Up!
  • #94,831
  • Jan 21, 2016 7:57pm Jan 21, 2016 7:57pm
Quoting Ken A
{quote} Add EAUD long - risk 25 pips
So, what do you look for now to close or move sl to green?
  • #94,832
  • Jan 21, 2016 8:09pm Jan 21, 2016 8:09pm
Quoting marcs4
{quote} So, what do you look for now to close or move sl to green?
I will close some and not touching the stops

Tired need to take rest can't stare at the chart 24/7

Trade safe

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 128 KB
  • #94,833
  • Jan 21, 2016 8:19pm Jan 21, 2016 8:19pm
Out at 6995, let's see what happens.
  • #94,834
  • Jan 21, 2016 9:11pm Jan 21, 2016 9:11pm
Quoting marcs4
{quote} Im worried about my shorts, i have 3, 0,6860 - 0,6905 and 0,6935
Learning to accept losses is one of the trait of being a successful trader. Risk management is the key to trading success. You may disagree with me, but that is what works for me.

Once you have overcome this pain and acceptance of closing out your losing trades, especially when price is around .70 now and you have short trades as low as .6860, you need to start taking action, otherwise you face the risk of margin calls and account close out eventually if prices go further up.

I've been in your shoes before, sometimes pride and ego supersedes our ability to think, call it the 'male ego'. I don't have the right to tell you what to do, just sharing my thoughts because i find what you said familiar and i can relate it to myself when i first started trading.

Safe trades mate!
  • #94,835
  • Jan 21, 2016 9:37pm Jan 21, 2016 9:37pm
Quoting SkyrEk
{quote} Learning to accept losses is one of the trait of being a successful trader. Risk management is the key to trading success. You may disagree with me, but that is what works for me. Once you have overcome this pain and acceptance of closing out your losing trades, especially when price is around .70 now and you have short trades as low as .6860, you need to start taking action, otherwise you face the risk of margin calls and account close out eventually if prices go further up. I've been in your shoes before, sometimes pride and ego supersedes...
I did put a lot on those trades, but they are about 20% of my account, so its not THAT much to put the whole account in risk! But thanks for the advice, i really appreciate it. I do have some shorts down there, but the risk is set, i never trade without SL!
  • #94,836
  • Jan 21, 2016 9:45pm Jan 21, 2016 9:45pm
for those who are trapped with shorts, watch 6920 closely. if you want to get out quickly this could be your last chance. otherwise it may take weeks before it reaches today's lows
As Above, So Below
  • #94,837
  • Jan 21, 2016 9:54pm Jan 21, 2016 9:54pm
Quoting marcs4
{quote} I did put a lot on those trades, but they are about 20% of my account, so its not THAT much to put the whole account in risk! But thanks for the advice, i really appreciate it. I do have some shorts down there, but the risk is set, i never trade without SL!
No worries man, always glad to help others

All the best and a great weekend ahead!
  • #94,838
  • Jan 21, 2016 10:54pm Jan 21, 2016 10:54pm
Complex bottoming pattern with an ending diagonal (c) developing.
Potential medium term short @ top of 4.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1 22Jan16.png Size: 40 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #94,839
  • Jan 21, 2016 11:32pm Jan 21, 2016 11:32pm
Quoting skyhok
Complex bottoming pattern with an ending diagonal (c) developing. Potential medium term short @ top of 4. {image}
Im also seeing a short from this level. Lets hope were right
  • #94,840
  • Jan 22, 2016 12:00am Jan 22, 2016 12:00am
I can see some buy potential (maybe 50 pips) if the 'important' EUR and/or GBP news isn't all that good today.

As people have mentioned, I think we're seeing a bit of a floor until some major news comes out of China or the RBA, some good scalping to those brave enough.
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