AUDJPY [M1; 200 - manual] Price is rocketing up to test the 85.000 level.... What should we do? Masterrmind............. :nerd:
Getting closer ............
Masterrmind...........
Master your Mind then Master your Trades
- #361
- Mar 10, 2016 9:41pm Mar 10, 2016 9:41pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Getting closer ............
Masterrmind...........
- #362
- Mar 10, 2016 9:47pm Mar 10, 2016 9:47pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
@Masterrmind Your charts and teachings are pure gold !!!
I make no apologies for teaching this method from an almost non-intuitive perspective!
I'm pleased to see that you know what is going on ... others maybe yes ... many maybe struggling a bit ... thats what questions are for I guess!
I teach from the point of view of how best to read the chart based on all the factors and enter a cycle of trades that makes sense and heavily considers risk!
Welcome to QAM ...........
Masterrmind............
Master your Mind then Master your Trades
- #364
- Mar 10, 2016 9:55pm Mar 10, 2016 9:55pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
yeh and why cant one admit defeat and SEE the break of the 1st reistance at 84.640? thats what annoys me the most .... this is where the quantum boxes let trader down, makes you look for shorts , somehow need to ignore if the trend is obviously UP
Consider all the factors outlined throughout this thread (many more to come by the way) and make a judgement based on all the factors you can gather on a given currency pair whilst managing risk.
Then you'll start making some great cycles of trades and eventually you'll get to the point where you enter only 1 trade (applied at total assigned risk).
Learn all the bad first so you know what can happen, is likely to happen or could possibly happen and then trade to avoid them!
Masterrmind............
Master your Mind then Master your Trades
- #366
- Mar 10, 2016 10:05pm Mar 10, 2016 10:05pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
im still in 4 lots of shorts , was counting on 85.100 as being absolute top, prefered BRN but it obviously had to test it .I will just wait for some sort of pull back to see if its going to continue down
A key resistance level is still about 40 pips up the chart.
However, look at the PA on the AJ chart, momentum has clearly slowed and price is showing a weakness to push higher and is possibly wanting to reverse.
I'd actually call this phase a consolidation of price where price has just started to form a tight trading range over the last 10 minutes or so.
Since you are in shorts you'll need to watch PA and any sign of an intention of the bulls to drive price higher (remember resistance at 85.400 level).
Personally, if I was going to short the AJ pair down I'd wait a little longer but if I did enter now I'd use 1 short trade with a short stop on it (maybe 15-20 pips and a TP of at least 1:1 to 2:1)
Traders choice as always but it needs to be consistent with the chart and pair you are trading be it AJ, EC, EG, EU or any other option.
Masterrmind............
Master your Mind then Master your Trades
- #368
- Mar 10, 2016 10:12pm Mar 10, 2016 10:12pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
please excuse my charts not being exact same clean up if you dont want them to confuse the method the main point I make is the continuance of trend from high obvious but not seen ....{image}
Greed is an evil trait to have in this business.
Technical and methodical trading surgeons is what we should strive to be ....... making well informed and as precise as possible entries!
We'll never be perfect but that should never stop us from trying!
Masterrmind...........
Master your Mind then Master your Trades
- #369
- Mar 10, 2016 10:30pm Mar 10, 2016 10:30pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
I will add to positions once the red line is broken
FF Open still 2.5 hours away or so.
Masterrmind...........
Master your Mind then Master your Trades
- #370
- Mar 10, 2016 10:34pm Mar 10, 2016 10:34pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #371
- Mar 10, 2016 10:40pm Mar 10, 2016 10:40pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #373
- Mar 10, 2016 11:07pm Mar 10, 2016 11:07pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #375
- Mar 10, 2016 11:15pm Mar 10, 2016 11:15pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUDJPY [M1; 200]
Masterrmind ...........
Masterrmind ...........
Master your Mind then Master your Trades
- #377
- Mar 10, 2016 11:31pm Mar 10, 2016 11:31pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Good Fortune,MM, Good Luck with your teachings ,,,,, will follow the thread for usefull learnings
Price is in love with 85.000 on the AJ pair so no sign of price wanting to go either direction anytime soon.
Good luck with your shorts!
Masterrmind...........
Master your Mind then Master your Trades
- #379
- Mar 10, 2016 11:52pm Mar 10, 2016 11:52pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUDJPY [M1; 200 - manual]
7 shorts applied with a 25 pip SL (about 3% risk) each on clear bearish intent of the market.
Late in the session so certainly not without a degree of risk.
Lets see!
Masterrmind............
7 shorts applied with a 25 pip SL (about 3% risk) each on clear bearish intent of the market.
Late in the session so certainly not without a degree of risk.
Lets see!
Masterrmind............
Master your Mind then Master your Trades