AUDUSD OVER BOUGHT???
A good opportunity to short AUDUSD?
What you guys think?
I am not sure…
This doesn’t fit in with this system. 3 ducks doesn’t use stochastic, macd, or any other indicators other than a 60 sma
According to 3 duck system 4hr, 1hr, 5min.
Price currently below ema60 on 3 time frame.
Good time to short AUDUSD?
Non farm payroll negatively correlated to USD index
Base on the chart below show that nonfarmpayroll
Sloping down. Does this mean usd will be strong?
Price close below 5min ema 60.
Strong resistance indicated at .74500
Good time to short AUDUSD.
By the way, fundamental is one big load of bull s h i t .
Oh boy… i guess fundamental not so poo after all.:36:
Resistance at .74500 breached. Audusd bullish.
Immediate support .74000
Heading towards mid December now so probably wont trade much if at all now until the New Year.
November was a reasonable month 6 wins 7 losses which resulted in + 229 pips overall and a little bit less than 2% account gain.
This also included a quite large loss(154 pips) which was not a 3 Ducks type trade so the month could have been better.
Nice account growth, that’s what really matters
Greetings Trend Traders,
I’d just be a bit cautious looking for buying set-ups on Aud.Usd at the moment, reckon there’s a good chance buyers could get “sucked-in and blown-out” if price does break above the ascending triangle formation … a fake breakout!
Safe trading as always,
Andy
Captain Currency
Captain, u never told us why u think it will be a false breakout?
i might have been interested in a breakout candle. currently looks like a nice consolidaiton
A bit of a gut feeling Harpoon …
I suppose traders who’ve been around the block a few times get these hunches every now and again. Also, we where leading up to the US Fed interest rate decision, didn’t expect there would be many Aussie dollar buyer above the triangle during this period - not a lot of value IMO.
Experience helps, like other trading approaches, the 3 Ducks is best used simply as a set of guidelines in addition with your own discretion, market analysis and trading ideas.
Good trading for the rest of this week,
Andy
Captain Currency
thanks for explaining it to me. you got great intuition:36:. and yeah, your right, best approach is to use the Ducks as guidelines and then personalize it. and for the new people, probably try to get the 4h system working first (i would think)
thanks again ,
Hello there captain, a new guy here, just stumble this thread by chance.
I gonna test this with 0.03 lot. Hehe. Thank you very much.
Hello Duck Hunters,
Just had a scan of the charts and this is how I see it:
EURUSD, Ducks favour buying set-ups.
Thoughts: even though the current price is trading above the sma (bullish) on the 4 hour chart (1st Duck) I’m thinking this pair will drift lower and flirt with the sma (4hr chart). I wouldn’t even be surprised if price drops below the 4hr sma in the coming sessions.
For now Bulls need to get moving, a cross back above the 1.0556 area (highlighted below) would regain my confidence - a cross back above this 1.0556 area would also get our 2nd Duck (1 hr chart) lining-up in the correct direction for potential buys.
If you do go long EURUSD when/if all 3 Ducks line-up in the same direction, a potential area where you could bank some profits would be just before the 1.0620 resistance zone (circled above).
Trade well,
Andy
Captain Currency
another great prediction captain. you seem pretty good. wouldn’t mind asking you ( or anyone else who really knows ) , why do you only recommend a small basket of currencies to watch over (a couple of majors and 2 cross pairs)? I know other cross pairs aren’t as liquid, but for the 4h timeframe, isn’t it good to watch other main cross pairs as well – means more opportunities to trade, more profits to make. And after a trade gets to BE, it doesn’t matter if a new trade is correlated or not. Anyone know? i must be missing something.
Howdy DiamondBanker on welcome aboard!
I like your lot size idea, keeping with the theme …
Have a great weekend,
[B]Andy
Captain Currency[/B]
I’ll let the other members answer that question too Harpoon.
Should be very interesting to hear how many pairs other Duck Hunters follow and WHY. No doubt you’ll get many different opinions and reasons - is there a correct answer? Probably not, it will most likely boil down to a personal choice imo.
I follow this basket of 8 pairs, I’m getting old you see (over the hill) and I find less is more these days …
EURUSD I[/I]
GBPUSD I[/I]
AUDUSD I[/I]
USDCAD I[/I]
USDJPY I[/I]
EURJPY I[/I]
USDCHF I[/I]
EURGBP I[/I]
Well-balanced, you’ll have spotted that there’s a fairly well-balanced mix of major pairs, commodity pairs and cross pairs in my basket, just what I like as a trend trader! The Swissy (usdchf highly correlated with the eurusd) is probably the pair I trade the least but I do like to keep an eye on her.
Stats, below you can see a breakdown of the pairs I’ve traded in the last 1 month (some with more success than others), this might also give the long-time 3 Ducks followers a better idea too.
Good question BTW Harpoon,
Cheers and a good weekend to all.
Andy
Captain Currency
Decent start for the new year ,stopped out for 80 pips on Ausssie and 85 on NZD
As for number of pairs to watch a shorter list is just more convenient, I usually check my list over the weekend and narrow it down to about 3 that I’ll look to trade over the coming week.
“… wouldn’t mind asking you ( or anyone else who really knows ) , why do you only recommend a small basket of currencies to watch over (a couple of majors and 2 cross pairs)? I know other cross pairs aren’t as liquid, but for the 4h timeframe, isn’t it good to watch other main cross pairs as well – means more opportunities to trade, more profits to make. And after a trade gets to BE, it doesn’t matter if a new trade is correlated or not. Anyone know? i must be missing something.”
any other answers to the question from other duck hunters?
I just have to say Thank You for a simple to understand system!
I have been on a month long binge of learning, reading and absorbing everything Forex (well probably not everything!) And a couple hours ago I couldn’t sleep—
Anywho–I had finally got the nerve up to open up the platform and test out your system. The first pair I looked at weren’t all in a row…so I looked at another pair–yep all 3 ducks in a row.
Had I been trading LIVE–I would have been shouting from the mountain tops!
Please double check my numbers as I’m still new to all this…
thanks again
PipGrannyWannabe!