No problem. You’re obviously much better with images than I am lol! But yes, your red arrow (I couldn’t figure out how to add arrows) is pointing at the Entry bar I used.
MS Paint is cheap and nasty, but quite often does the trick 
Hi CurrentSeaTrader, welcome to this thread! Looking forward to seeing more of your trade ideas 
Happy Pip
P.S. Witty name! I like it!
Thanks Happypip.
I just noticed that Etoro has documented a few scenarios regarding tomorrow’s RBA meeting. I’m wondering whether we can snag a few pips out of this on Tuesday esp from scenarios B & C.
P.S. I think scenario B is overly optimistic.
Whoa Whoa Whoa back up a second did you just say you use etoro? I tried to open an account with them a few months backs but fxsolutions said etoro was down and that my account would default back to fxsolutions witch to me is fine but I liked etoro whenI demo traded them I would like a live account there. Are they back up and running so I can slap fxsolutions around a bit come on its my favorite thing to do
Well ST seeing as how we broke .9600 (If it holds a little longer) you win and my bias will no longer be long on this market but play it how I see it. Have enjoyed collecting intrest @ 5est everyday though even if my trades lasted a couple minutes and not much money but hey a guaranteed profit even if small is good. Better than a scalp imo.
Yeha maybe not took a short off a little bounce on the 4hr trend line and up 25 pips and counting stop loss is already at BE. Guess I should have traded what I seen and not what I wanted to see a long time ago. Sure beats taking a drawdown to think I am smart. Thats not smart at all lol. Just goes to show you have to be humble in this game or the market will humble you.
Well just got stoped for a gain of 25 pips 2:1 r/r thats a winner not as much as I wanted but was nice to get a winner to perk things up however I cant be upset did hit my tp but I wanted to see it retest the daily pivot and break channel it is trending in then I would have added a couple lots and would have been a nice trade.
Just wanted to say hi and introduce myself. For whatever reason I have taken a liking to the AUD/USD, and I look forward to joining the discussion of this pair. ST, thanks for your posts in my other threads.
Welcome crazy glad to have yo ujoin in and this is my fav for trading. I can only trade this session due to work . The only advise I can give is watch this market its like a cat it loves to be petted just right and when you pet her right she will purr like a kitten. However whens she is tired she will bite you so you better be ready. Also when you get bit dont stress about it she will be back in your lap wanting to be pet again they always come back. Be forwarned there is a reason I have a pitgull in my house lol . Happy pipin
Hey, Bob. You just trade the Sydney session??
yes sir I work alot and I need my beauty sleep to look this good lol. Other than that time with my kids are most important so alot of time goes there. Thats why I want to do this full time and I am close but wont be tomorrow. Soon just like waiting to take a trade you got to wait till its your time if not you will go swimming with the fishes. Plus I would quit today but health insurance is a must have with a family and yeah I might swing my bills today but taxes and insurance I just cant swing right now so the Asian/Aussie session is where I will be hunting for that day.
The higher timeframes (Daily and up) were screaming Short at me, but it is not a precise science, I did not expect quite such a strong move down, so I had a little luck. I guess the gold run really exhausted the bulls! You’ll get me next time. And nice work grabbing a winning trade. My coach always drills into me: trade what you see, not what you think. So I think that you have really hit the nail on the head with that line.
Bit of a crazy freefall recently on this Pair, I expected 0.9500 to put up more of a fight. Looking at the Weekly, 0.9400 might be interesting, but at the moment who knows?! I’m staying Short - kicking myself gently for taking my 240 Short off the table last week, then missing an opening on the Hourly this morning. Failed to take my own advice, didn’t think that the fall could continue so sharply, even though that’s what the chart said. Always learning…
No problem at all, I learn a lot from these discussions myself, so thank you for prompting an interesting debate.
This is the most family-friendly thread on Babypips lol! Mine are all at pre-school/school this morning hence lurking on Babypips.
ST
When you wrote this post, I had a funny feeling you could be right about that eventual price, ST ~ 92/93 now seems within easy striking distance. Maybe even tonight. It is said the next level of support will be 9265 but I don’t think that’s strong support. I’m wary of the Bernanke speech tonight. Seems like something bad happens to the market every time he opens his hole. Otherwise, I’d have bunged in another short before going to bed.
By the way, I did put a 200ema on my daily chart but the line was nowhere near the candles, in fact I could not see it at all. How do you decide on what period to use for your ema analysis?
200 ema is a strong ema to use. Right now price is no where near it because this drop has been so rapid. However when the pair does finally turn and it will sometime that 200 ema will be something to watch for now its just sits way back there. Glad I did get that small gain as it looks like my week might get cut short as a forest fire moves closer to my house. Looking like if we dont get some heavy rains that is not expected or at a minimum heavy northwestward winds to blow it away from me. Looks like I might be going on a mini vacation for a while. Cross my fingers and hope for the best. Make sure the insurance paper are all set just in case the worst happens.
Didn’t think that it would get here so quickly, though!! Crazy moves at the moment, shorting is like trying to catch a falling knife.
I agree with you, 0.9265 is not on my chart - these things are subjective, but I have 0.9440 and then a minor level at 0.9200.
I’m with you entirely in being wary of Bernanke talking.
I use 20 and 50 emas for lower timeframes, 100 and 200 emas for higher timeframes, I just find that those interact well - trial and error, basically, seeing what suits the strategy. I prefer an ema to a true indicator, as basically they just give a dynamic indication of Support and Resistance levels. Interesting that you were not a fan of the 200 on the Daily. Did you scrunch the chart up then expand it again? On my system, one needs to do that to update the data. We had a solid touch right on the 200ema on 25th August 2010, then the 100ema on 1st December 2010, then just above the 200ema on 17th March 2011, then the 100ema on 27th June 2011, then a lot of consolidation/indecision right around the 200ema on 8th-11th August, then Price made a significant lower high on 1st September 2011, then the next touch of the 200ema was soon afterwards, on 12th September, that was a sharp fall, that and the lower high made me think that it might not hold, and actually the 200ema was tested, broken and retested all in the space of a few days (which had not happened in years) and then we got the current massive selloff. So the ema’s were pretty central to my analysis. But we are all different, so if it does not work for you, or if your charting package does not calculate them to the same place that mine does (I know that there are differences) then don’t worry about it - without the ema’s on there, I would still plot trendlines in a similar spot, I just use them to shorthand my analysis. It’s all Price Action, basically.
ST
Crikey, that’s no good at all, particularly with small kids. Thinking of you here, hope the wind does you a major favour and it misses you.
ST
thank everyone in my house will be fine. The good thing about forest fire is you know its coming and have time to prepare. Its mother nature and she will do what she wants all we can do is stay out of the way. The sad part is I just moved into the place a few months ago.
Hoping for the best.
Trying to find the RBA rate decision. Anyone???
Held at 4.75%.
Yipes. Stay safe!