I should have listened to myself earlier saying I wasn't going to short this time. Stopped me out. Now I can get some sleep
- #98,365
- Aug 9, 2016 9:03am Aug 9, 2016 9:03am
{quote} @Ell3, That's a waste! You might be able to profit handsomely since you trade on the lower time frames. Your tight sl might give you good risk to reward outcome. Anyway, I focus on trading the M30 and H1 time frame. I was longing the AUD/USD and.....
i sold at 7685, prepared to let this run a little..maybe until after Tokyo and HK/Singapore markets open 9hours from now (looking at the past few days...Asia has been selling AUD). looking at 7655 to take profit. if it doesnt work out, at this point my stop sits at breakeven. all the best to you too!
I do not understand why people trade against momentum.
i second that! i'd go short for 10pips each time it touches a new high. e.g. when it first touched 7660 today, then again at 7674 then again at 7685. feels safer than going long at this level. but i'd definitely close out or double short from the next new higher level if it shoots against me and then get out as soon as i breakeven.
looking at the daily chart, it's highly possible the top of this uptrend may reach between 7800-7850 (region of the April 2016 and late May 2015 high).
- #98,367
- Aug 9, 2016 9:35am Aug 9, 2016 9:35am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #98,368
- Aug 9, 2016 9:48am Aug 9, 2016 9:48am
{quote} Hi, m8! Try not to gamble, try not to do revenge trading. May be you need to take some time out and review your recent trades; or just visit some FF threads that may be helpful in the areas you may be lacking. Greens to you. KP
@noFXguru .... based on that chart that's a good level though, if you can define your stop in case it goes further up.
- #98,369
- Aug 9, 2016 9:57am Aug 9, 2016 9:57am
{quote}
- #98,372
- Aug 9, 2016 10:19am Aug 9, 2016 10:19am
{quote} my stop will be about 65 pips. I figure that if price takes me out up there then I might as well just forget about shorting the pair at that point as it would have busted that red down sloping trendline
- #98,373
- Aug 9, 2016 10:40am Aug 9, 2016 10:40am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
{quote} thanks for the positive words KP. I'm trying not to revenge trade. 0.77 seems like a logical place to try one more short, and if it doesn't work out then I'll just take a step back and reassess this pair
Do your homework, follow the footprints of smart money
- #98,374
- Aug 9, 2016 11:10am Aug 9, 2016 11:10am
{quote} hmm, but why such a large stop distance 65pips up? if it breaks above the trendline, the next logical top should be the area around the April 2016 high @ 7834...which is 100+pips up...you'll just be wasting pips. unless you're thinking about a false breakout then..yeah, although i doubt a false breakout will run that far up. trade safe anyways and keep calm
We'll see if this plan works out. Has almost a 1:4 risk/reward. Hopefully Stevens can provide some guidance tonight and drop this thing. It all feels like I'm trying to pick a top though, and that's almost never good.
- #98,375
- Aug 9, 2016 3:16pm Aug 9, 2016 3:16pm
- Joined Nov 2015 | Status: I'm hungry | 4,034 Posts
Governor Stephens speaking today -
hope he talks the currency down
hope he talks the currency down
- #98,376
- Aug 9, 2016 3:26pm Aug 9, 2016 3:26pm
- Joined Nov 2015 | Status: I'm hungry | 4,034 Posts
Governor Stephens speaking today -
- #98,377
- Aug 9, 2016 3:33pm Aug 9, 2016 3:33pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
{quote} whats funny the abs can't even keep the census website up , it was impossible couldn't happen . Probably hacked by a child using a free app
Its a joke and the site still cant be used.
20 Pips a day keeps centerlink away
- #98,378
- Aug 9, 2016 3:38pm Aug 9, 2016 3:38pm
- Joined Nov 2015 | Status: I'm hungry | 4,034 Posts
{quote}
now, this is a visible external component of the abs - they have been working on this system for years and it still crap, bit like there statistics - #98,379
- Aug 9, 2016 3:45pm Aug 9, 2016 3:45pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
{quote}
20 Pips a day keeps centerlink away