Switch your chart on the Weekly time-frame. What do you see? Do you want to trade against the confirmed Weekly Shooting Star?
I think area around 1.53 would be better to going long, anyway this pin is quite small compared to recent bearish bars and also 4H is trending down nicely but this apparently isnāt important.
Hi belier I didnāt mean it in an angry way, sorry if it came across like that!
Good morning everyone - I gotta start the day with a question . I understand what SWAP is and how it works but I am a bit confused by the amount. I am in a Sim trade on EURAUD - entered 1 contract long yesterday (12 Sep).
Today I have checked progress & see I am + $ 228 as I write this. Swap however = $ 49.50. Has anyone experienced this level of THEFT (LOL;) before?
Thanks for any responses guys
Meadsie:17:
PoundAussie - will try to use PB to put me back in main trend.
Gold - there is a PB but not great size. could be a winner but not confident. Prefer to see if price can eventually make its way down to that support before turning us back into major trend. Anyone comment on the PB ?
DollarSing - Good PB off previous R now Support. But against Big red Bars in this downtrend. Prefer to bust through then retest before resuming trend south.
Comments welcome ( & necessary - LOL ):60:
Hello, i found a nice resistence forming on NZD USD D1, if form an good 2ābr,pp, BEEBā¦ i will put my sell entry, letās see what u guys think about that below:
Hey,
What are your opinions on these two areas?
The USD/CAD 0.98 area is large support on the daily chart. - Waiting for nice big candle to signal sell at that areaā¦
The GBP/CAD is looking like making a triple top. Is it better to wait for the price to break out of the range, wait for the retrace, then place trade? If there is a nice candle on the triple top is that enough to place the trade?
Hi mudbloodz,
USDCAD:
-> I have exactly the same area marked ( BRN 0.9800 ) where I will look for short opportunities on H4/D1 after the pullback.
GBPCAD:
-> Iām also watching the same area like a hawk!
If short PA presents itself, i will go short. If the resistance is broken, I will wait for price to retrace and look to go long.
Cheers!
OANDA is a fairly popular forex broker to trade through. Unfortunately, they close their charts at Midnight instead of after the NY session. Opinions vary on how serious this is, but I for one do not want to have to interpret the variances while interpreting a chart. That seems stupid to me. Anyway, DailyFX offers six or seven online charting tools with candlesticks that close after NY. I use PowerCharts because it contains all the tools I need and lets you save your work space so you can just jump right back to it.
As a disclaimer; Iām not associated with DailyFX. Iām a novice that trades with OANDA who wanted to ensure he was on the same page of information as other PA traders. You simply do not get the same patterns with a midnight close as you do from a post-NY session close.
(Musingsā¦)
Oil has been ranging on the Daily for about a month now (slighly more)ā¦
The trend before that had been upā¦
I think when the breakout happens, may be quick and fast! towards 100.00 VBRNā¦
( or it may just drop through the bottom of the range and trend down -> good for our gas tanks i guess :31: )
.
Anyone know how to change the chart times on Oanda? My charts dont look like any of yours meadsie. Iām assuming its me. Im not sure if im on the NY close or not.
Hi Bigd,
Changing the chart times wonāt help. Closing time of bars is a broker function.
Since Oanda does not close daily candle at 5pm NY time, the charts are not NY-close.
Try charts from pepperstone / axitrader / fxdd / fxpro
Cheers
Thanks alot I think im going to change over to Trade Interceptor which batches alot of brokers together and allows me to choose a broke with NY Close. I can execute my trades on my demo Oanda account. Main issue I have is that Iām using a Mac and I have to find brokers compatible with Mac. Something Iāll have to keep in mind when I open my live account.
Kul!
In addition, you could mail the support dudes of the <NY-close brokers>, ask them about the Mac compatibility, the good ones will respond very quickly with helpful info. Some of them (e.g pepperstone) also have web trading, something to considerā¦
Cheers!
Where did FaRS (Richard) and Toyogo go to?!
.
Heads up on the AUD/JPY nice BUEB formed on the previous day good chance to get in on the main trend. Only downside is its not in a great swing low but it definitely has more room to move up. :22:
It is an obvious BUEB also on the 4h chart for those that dont mind going a little lower.
:54:
Hi there Bigd,
Pleased to see you may have sorted your chart supplier - using the same bars as the rest of us will certainly avoid a lot of confusion.
IMHO the Engulfing Bars are Reversals & should be applied at Swings only. This one you are looking at is really a continuation 0f the existing trend. It could well work but it is not in my watchlist - there has been no obvious retrace which has provided a swing low of substance. Just my 2c worth but please be careful if you are considering a trade.:51:
Yes I actually made my decision after glancing at the 4h. I posted the first snapshot I saved. John has mentioned we should not take action during continuation guess temptation gets the best of me sometimes. I traded it on demo which is for that purpose becoming a more disciplined trader. As traders we must always be careful, made sure to use proper risk management as always.