Attachments: AUD/USD

AUD/USD

#100,421
Jan 12, 2017 6:40pm Jan 12, 2017 6:40pm

breezetrade
| Joined Jun 2016 | Status: Trader | 54 Posts

AU Sell: 0.75180 + 0.75623

AU Buy: 0.74400 + 0.74294

10 pip TP 10 pip SL

3//3 so far this week lets push for some extra pips and hope Asia doesn't cause to many

You need an ark? I NOAH GUY

#100,422
Jan 13, 2017 8:09am Jan 13, 2017 8:09am

VecPhile
| Joined Jan 2017 | Status: Trader | 164 Posts

Quoting VecPhile

Disliked

{quote} I agree.. As Price hanging on overhead Resistance, I expect the market to move down as Yellen Speech later.. very nice position.. Only if 0.752x area holds.. VecPhile. {image}

Ignored

Very nice pattern, if end up tweezers top. monday will be another good day...

Bearish all day..

VecPhile.

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If you think market is about to go against you on a winning position, ADD!

#100,423
Jan 13, 2017 9:00am Jan 13, 2017 9:00am

newbegger
Joined May 2011 | Status: Trader | 1,583 Posts

Quoting newbegger

Disliked

{quote} took short at .74777. I think it's probably early as I expect A LITTLE more upside, but I am US based trader and now 2:00am EST. Tired and need sleep. will stay shorty until friday and close, win or lose and re-enter long for next week and ride trend up or SL, don't care which happens After next week, I will study to position for Japanese repatriation trade. Have to move much earlier each year to be the early bird as this trade seems to slip more every year.

Ignored

Closed shorts and went long again at .74544. Short side very weak, the Trump talk trumped my cycles trade, lol.

Ecclesiastes 1:9

#100,424
Jan 13, 2017 9:44am Jan 13, 2017 9:44am

darko2010
| Joined Apr 2010 | Status: Trader | 1,025 Posts

Quoting newbegger

Disliked

{quote} Closed shorts and went long again at .74544. Short side very weak, the Trump talk trumped my cycles trade, lol.

Ignored

Newbegger, I am amazed by how you called the bottom there. Would you mind explaining what made you go long at that level?

Thanks
D

#100,425
Jan 13, 2017 10:06am Jan 13, 2017 10:06am

arigoldman
| Joined Oct 2014 | Status: Trader | 915 Posts

Down and up again.

#100,426
Jan 15, 2017 3:35am Jan 15, 2017 3:35am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Aussie monthly paints a pretty picture IMO.

If you are in it for the longer haul, there's a shorting opportunity above at resistance off the retest I think.

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Come with me if you want to live....

#100,427
Jan 15, 2017 3:40am Jan 15, 2017 3:40am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Daily Red retest to watch at the resistance zone

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Come with me if you want to live....

#100,428
Jan 15, 2017 5:13am Jan 15, 2017 5:13am

eugenyk
| Joined Feb 2012 | Status: Trader | 246 Posts

Ill-b-back, you are from Australia, can you please share your thoughts about aud possibility? I wonder can it go under 0.7 this year?

#100,429
Jan 15, 2017 5:55am Jan 15, 2017 5:55am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting eugenyk

Disliked

Ill-b-back, you are from Australia, can you please share your thoughts about aud possibility? I wonder can it go under 0.7 this year?

Ignored

Hi Eugenyk,
It would bode well for my mortgage but honestly, I wouldn't know. I don't track findies here much I'm afraid.

Sorry I can't be much help there.

Come with me if you want to live....

#100,430
Jan 15, 2017 6:03am Jan 15, 2017 6:03am

eugenyk
| Joined Feb 2012 | Status: Trader | 246 Posts

Quoting Ill-b-back

Disliked

{quote} Hi Eugenyk, It would bode well for my mortgage but honestly, I wouldn't know. I don't track findies here much I'm afraid. Sorry I can't be much help there.

Ignored

Thanks!

#100,431
Jan 15, 2017 7:02am Jan 15, 2017 7:02am

Neohau
| Joined May 2012 | Status: Trader | 79 Posts

Is there a good shorting opportunity soon? What's ur views?

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#100,432
Jan 15, 2017 10:10am Jan 15, 2017 10:10am

thewriter30
| Joined May 2012 | Status: Worried | 458 Posts

agree

#100,433
Jan 15, 2017 11:56am Jan 15, 2017 11:56am

eugenyk
| Joined Feb 2012 | Status: Trader | 246 Posts

Quoting Neohau

Disliked

Is there a good shorting opportunity soon? What's ur views? {image}

Ignored

I agree with short possibility from 7700, cause

1. it is just beginning of the year, and it would be nice to climb up more to fall from there
2. GBP/AUD is still going down

#100,434
Edited 6:04pm Jan 15, 2017 12:54pm | Edited 6:04pm

newbegger
Joined May 2011 | Status: Trader | 1,583 Posts

Quoting darko2010

Disliked

{quote} Newbegger, I am amazed by how you called the bottom there. Would you mind explaining what made you go long at that level? Thanks D

Ignored

I use an indicator based day trading set up for short term trading. ADX is key. If ADX is pointing up (the white line is the ADX) that means we are trending and I look up on chart for trend as well as bollinger band to ensure price is riding the band. If ADX is pointing down, that means we are in a range so I look down on the chart to see if MACD oscillator has called a bottom or a top.

In this setup, ADX was going down so that means follow the MACD signals and look to play bounce in bollinger bands. Also, I got lucky

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Ecclesiastes 1:9

#100,435
Jan 15, 2017 7:01pm Jan 15, 2017 7:01pm

breezetrade
| Joined Jun 2016 | Status: Trader | 54 Posts

Short: 0.75081,0.75377 and 0.75488

Long : 0.74727, 0.74559 and 0.74491

All stop loss and take profit and 10 pips

lets hope for another week of winners

You need an ark? I NOAH GUY

#100,436
Jan 15, 2017 7:22pm Jan 15, 2017 7:22pm

erud
| Joined Dec 2016 | Status: Trader | 90 Posts

Short AU with SL @ 0.7530

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#100,437
Jan 15, 2017 9:14pm Jan 15, 2017 9:14pm

openyoureyes
Joined Nov 2012 | Status: trend > bias | 2,772 Posts

Quoting dab

Disliked

{quote} Thank you for sharing. Personally I don't track chart patterns like these as many seem to become evident too late to trade them. Might have to give it more thought if that's how it does play out and on any insights you are willing to give to following questions: Have you placed trades on AU based on the pattern you see? If yes, at what point did you get long? Did you close out / plan to close near end of the cup? Did you short / plan to short for the handle? At what point would you go long again in anticipation of the end of the handle?...

Ignored

rely to these books concerning patterns:

Japanese Candlestick Charting (by Steve Nison)
Encyclopedia of Chart Patterns (by Thomas N Bulkowski)

website to download: libgen.io
after reading you will see that in higher TF %60-65 of all patterns fail. (in lower TF it is +%70)

strategy to trade this pattern:
either you wait until price reaches pattern top (resistance) or you put sell limits above pattern trying to catch wicks.
or
play continuation of AU bullish trend / buy stops above neckline after handle forms.

in Forex markets, I wouldn't rely on patterns.
they work better on equities because: it is equity/money and shorting an equity is not really equal to shorting money/money (forex markets)

today US markets are closed so maybe this pattern will come invalidated (for this pattern to become invalidated, AU has to break neckline and close there)

another example, but not AU