DislikedAussie is forming a triangle. Downside risk is more than 50% at this point.Ignored
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daddybearforex. com
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DislikedAussie is forming a triangle. Downside risk is more than 50% at this point.Ignored
DislikedWhen I posted this message, there was a shower head image in my mind.Ignored
DislikedFor short term trading you can observe the Globex ES futures contract a.k.a. the "e-mini" S&P 500. The next best alternative is the SPY(an ETF that equates to the S&P 500). Overlay those together with the the AU and the Dollar Index.
freestockcharts has the SPY/Dollar/AU. But the Dollar(DXY0) only works on setting of 'daily' or higher. If anyone knows free 'realtime' site where you can get the true ES/DX/AU less than daily settings please let us know.
The above presents the question, "does the AU follow the ES/SPY or is it the opposite?"....Ignored
DislikedSince that time, Aussie has been taking a shower on an uneven shower pan. What's next?Ignored
DislikedGood to see you around DaddyBear! I liked that shower chart... price did made a dip after it showed up when we got a market close below it, we are now a little delayed on our way down when we hit the 100 and 200 EMA in tandem with the big 1.0000 parity psychological number, 1.0070 is a previous support spot now converted into a resistance one.
50 EMA is above us pretty much the same level than the golden trendline, as I see it,...Ignored
DislikedNobody has a crystal ball; however, history repeats itself so does the market.
Regarding the crystal ball, Daytrader74 may have one inside his portable toilet.Ignored
DislikedGood to see you around DaddyBear! I liked that shower chart... price did made a dip after it showed up when we got a market close below it, we are now a little delayed on our way down when we hit the 100 and 200 EMA in tandem with the big 1.0000 parity psychological number, 1.0070 is a previous support spot now converted into a resistance one.
http://3.bp.blogspot.com/-_xoywwxye9...06-23+-+01.gif
50 EMA is above us pretty much the same level than the golden trendline, as I see it,...Ignored
DislikedI agree with your price levels, I am bearish and I think there might be a throwback sequence with sudden short squeezes only to be faded by market makers even lower to more stable bidsIgnored
DislikedI agree with your price levels, I am bearish and I think there might be a throwback sequence with sudden short squeezes only to be faded by market makers even lower to more stable bidsIgnored
DislikedGood analysis. Did you misplace Wave 3 and Wave 4 on your chart? At this point, although the move was impulsive and in a 5-wave format, it was still an initial corrective wave of a larger corrective move. -IMHO-Ignored
DislikedEric,
...
I trade Forex market with two approaches: The complicated EW principle and a child's simple mindset. The shower image is a reflection of a child's simple mindset.Ignored
DislikedI believe trading with a child's simple mindset will give you a strong edge on the markets DaddyBear, simple thought is hard to achieve especially when your money is on the table, keeping a clear mind that way is wise when you need to take action in accordance with a complicated chart reading strategy as stated on your first approach, that's why I loved the shower drawing of yours.Ignored
DislikedI found a book supporting my mindset approach today.
http://www.amazon.com/Mindset-The-Ne.../dp/1400062756
A chart has abundant hidden information. A child's simple mindset is the key to decipher the complicated market moves. -IMHO-Ignored
DislikedSeems to me, Daytrader74 sometimes did not clean his ball before looking into the future.Ignored
Dislikeda whimsical child`s mind, uninhibited by judgement and too much logic, I have traded since 2006 and I have to tell you intraday market structure has changed a lot in terms of its intrinsic volatility. remember the 300pip/day GBP/JPY ? moves 1/3rd of it right now, which in simple mathematics means that trends are going to occur 2/3rds less and are 2/3rds shorter in length, if sweap about h4/daily directional trends, only ADD kids can make money best today in this environment because they have no allegiance to anything and can switch their intentions on a dime
I trade options for a small hedge fund and from what I have noticed is that the majority of big time flow is selling volatility in everything through options, which means that people are betting on tighter ranges and are not affraid of trends THAT much anymore, they prefer to collect the premium of an option rather than bet on trends (buying options)
aud/usd for one is a pair with a nice market structure and respects levels quite precisely most of the time, and its high to low average daily movement in pips is one of the highest in forex, which makes it an attractive pair to trade in volatility and simple directional terms, remember carry play is also involved in this pair and market makers and banks would always try to mess around with hedge funds on the other spectrum of the game when NY is about to close and ozzi is about to roll over into next day
banks(dealers) slam the pair down in the closing minutes not to allow hedge funds to buy the pair for 5-10 minutes and thus collect overnight swap
crazy kinds of games are played exactly at that time when trading desks restart their systems, usually around 5:55 pm NY time you can get a pretty good deal out of money hungry fat bastards chasing to collect swap overnight rate versus their over leveraged positionIgnored
DislikedIt is a good article to read about your background and thoughts. I believe you are a pro.
I have traded since 1998 including stocks, options and Forex markets. I have worked for myself for more than 20 years. Currently, I am managing my clients' Forex accounts, however, I am neither a pro nor a trader. I am a speculator.
I have good understanding of technical analysis but I prefer to express my thoughts in a simple way. Personally, I don't like to read lengthy and dry articles. Trading is stressful. Why would I add more stress to myself by reading...Ignored
DislikedAfter defeated by bears on Thursday, bulls regrouped and tried to retake 1.01 Ht. While eating grass at 1.007 Ht., bulls were surprised that airborne bears came on Friday afternoon. Story developing ........Ignored
Dislikedu got a V for drawing a shower head, an i get a hate message for showing a 15k pip count for this month...whats up with that!?Ignored