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  • #100,201
  • Dec 9, 2016 3:23am Dec 9, 2016 3:23am
[quote=Onizuka;9329188]
Quoting Don96
{quote} Ascending Triangles usually break up... Ascending triangle usually break up ?? It doesn't make sense. That is just a retracement. A valid break down is shown on red arrow on H1 Triangle. {image} {image}
?
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  • #100,202
  • Dec 9, 2016 3:27am Dec 9, 2016 3:27am
Yep I hear you Don96.
But in fact everytime you have a retracement, it makes a triangle.
That was my point.
In a DownTrend you may have ascending triangle and they break down if trend is continuing.
  • #100,203
  • Edited 3:45am Dec 9, 2016 3:31am | Edited 3:45am
Easy scalp short at 7480. looking for 30 pips back to 7450. A little something to put a good taste in my mouth before the weekend

Quasimodo, ABCD completion, 161 extension, and some other fractal confluence
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Pride always comes before destruction.... -Proverbs 16:18
  • #100,204
  • Dec 9, 2016 3:40am Dec 9, 2016 3:40am
Haha, it seems that we are doing the exact oposite.
I am curious to understand why you short there.
  • #100,205
  • Dec 9, 2016 3:47am Dec 9, 2016 3:47am
Thank you for your explanations.
  • #100,206
  • Dec 9, 2016 3:58am Dec 9, 2016 3:58am
Quoting ell3
Guys, keep the trading simple! No offence to anyone but I'm seeing so much analysis based on Guess work or personal expectations. I say again, I've got a neutral bias towards the pair. But as @skyrek has also shown his simple chart...an uptrend is underway. Hourly moving averages have also held multiple times. If you're doing intraday trades, that's a bullish signal. Need to look for a break below that trend line and subsequent confirmation of the break (e.g. Rejection off under side of broken trend line). Until then, the short trade looks set to...
Thanks ell3! Yeah, i like to keep trading simple. No point adding all that complexity when trading by itself involves many psychology process.
My longs are going well atm.

Have a great weekend to you and all traders over here.
  • #100,207
  • Dec 9, 2016 5:52am Dec 9, 2016 5:52am
Tp hit. +20 pips
  • #100,208
  • Dec 9, 2016 6:19am Dec 9, 2016 6:19am
Quoting Onizuka
Haha, it seems that we are doing the exact oposite. I am curious to understand why you short there.
Congrats on a winning trade.

My SL held by 2 pips, now we are on the way back down to paradise. I trade areas of confluence that I believe will give my trades a high probability of a price bounce.
Pride always comes before destruction.... -Proverbs 16:18
  • #100,209
  • Dec 9, 2016 6:28am Dec 9, 2016 6:28am
Thank you.
Hope you win too.

I am monitoring it too, to see how your trade is going.
For now, i think you will it 0.7450.
  • #100,210
  • Dec 9, 2016 6:52am Dec 9, 2016 6:52am
Quoting Onizuka
Thank you. Hope you win too. I am monitoring it too, to see how your trade is going. For now, i think you will it 0.7450.
Thanks.

Pulled the plug at +23 that's good enough and call it a weekend

Cheers
Pride always comes before destruction.... -Proverbs 16:18
  • #100,211
  • Dec 9, 2016 6:53am Dec 9, 2016 6:53am
This is one of my typical setups: false breakout at key SR/SD level.
Let's see if this plays out. Feeling itch to close out the trade due to current uptrend and coming weekend.
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  • #100,212
  • Dec 9, 2016 6:55am Dec 9, 2016 6:55am
Quoting Expo33
{quote} Thanks. Pulled the plug at +23 that's good enough and call it a weekend Cheers
Well done !
Finally with both win.
Not so bad.
Enjoy your week end.
  • #100,213
  • Dec 9, 2016 7:42am Dec 9, 2016 7:42am
Increased volatily on the 30 min chart suggests it's about to go?
  • #100,214
  • Dec 9, 2016 8:04am Dec 9, 2016 8:04am
Quoting PurePA
This is one of my typical setups: false breakout at key SR/SD level. Let's see if this plays out. Feeling itch to close out the trade due to current uptrend and coming weekend. 2097957{image} {image}
Clear down Elliot five waves plus 61.8 Fibo respected: a signal for far further down south
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  • #100,215
  • Edited 10:56am Dec 9, 2016 8:23am | Edited 10:56am
Quoting PurePA
{quote} Clear down Elliot five waves plus 61.8 Fibo respected: a signal for far further down south {image}
I agree....... its what I've been saying this last week; but I did call it to early.

Can I say I tend to also agree with Ell3 about not getting to technical. Different people trade in different ways, some will be scalpers, others looking long term. There is no one single right or wrong way to trade. I have posted chart screen shots previously as they can be useful, but I dont view Elliot Wave as technical trading; its more of an underlying principle. It helps me interpret what I'm seeing (or rather what I think I'm seeing lol)?
  • #100,216
  • Dec 10, 2016 12:22pm Dec 10, 2016 12:22pm
http://www.news.com.au/national/sout...2da7a5504023d0
  • #100,217
  • Dec 10, 2016 10:38pm Dec 10, 2016 10:38pm
Those who look at it from many different aspects technical , fundamental, sentimental , multi time frames , news calendar and know their competitors( commercial,retail , fraudulent brokers,scammers ) with good mm and psychology will survive live pro trading as long as consistent .
  • #100,218
  • Dec 11, 2016 8:21am Dec 11, 2016 8:21am
Tough pair to trade.
  • #100,219
  • Dec 11, 2016 6:51pm Dec 11, 2016 6:51pm
Quoting thewriter30
If you ask me, which you probably SHOULDNT do , this reminds me the previous 50 pip fall from the other day, kneee jerk reaction as it were.... reaction to USD being......ok needless to say I had a juice SHORT position at 7478 and took it at a loss couple of hours ago.....oh well {image}
I'm guessing that around the same time you took your 7478 short I had mine at 7481, but I wasn't fussed even when price went up to 7508 as I am seeing a slow and narrow (from my perspective) ascending channel on 4hr chart from 7310 low 21/11/16. I expect channel to hold until this week's (Thursday morning for me) FOMC meeting. There have been instances of good success like my 7481 short that I had set a 50 pip limit on (just within the 7428 low early on the 9th and other near misses where I had a short order at 7496 that missed getting filled by .2 pips late on the 9th.
Hope for the best, prepare for the worst.
  • #100,220
  • Dec 11, 2016 7:57pm Dec 11, 2016 7:57pm
Quoting dab
{quote} I'm guessing that around the same time you took your 7478 short I had mine at 7481, but I wasn't fussed even when price went up to 7508 as I am seeing a slow and narrow (from my perspective) ascending channel on 4hr chart from 7310 low 21/11/16. I expect channel to hold until this week's (Thursday morning for me) FOMC meeting. There have been instances of good success like my 7481 short that I had set a 50 pip limit on (just within the 7428 low early on the 9th and other near misses where I had a short order at 7496 that missed getting filled...

Great answer in thAt you explain why you didn't get fussed by the wave up...it is clearly in a channel yet I am always wary that it may break it so I talk the talk but I ain't walking it
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