Hi bobmaninc
I was looking at the AU on H4. On hindsight, there was an engulfing bearish candle forming at 1.045 which looks like a key resistance level. Subsequently price did retrace 50% back on the engulfing candle before continuing with the descent.
Any chance you are on this trade? Is this setup sound?
Many thanks in advance!
No I did not trade it I have been busy moving and have not traded. I might get a trade in toward the end of the week
Any trades yesterday and today ? Market seems to be so dead to meā¦was on sidelinesā¦
Just spotted a trade. Not sure if Iām forcing it but itās on EG on 1hr TF, reversal candle on 61.8 Fib line from yesterdays HH & LL. Support line also has held previously in the month. Got a short SL of 10 pips below with TP @ 23.8 Fib line. Good luck if you follow.
Open a position on AU pair at 1.03118 in the morning, just hit my trailing stop,got out with 52 pips, slowly recovering my loses but still long way to go.hope every body is doing good.
Not confident of this so for that reason Iām out :13:
Got to have more confidence in my decisions. Took 5 pips but could have had 4 times that amount. All part of the learning curve I guess.
Open a trade on AU but SL just hit. Loss 36 pips.
Yes, it is very difficult on my part to recognize the market bias for last few days.
May i know why did u choose to take the AU trade ? Cuz i dont see any bias in the D TFā¦Moreover its like in sideways zone to meā¦
Same hereā¦Market is so choppyā¦
Hi gs8888 if you see the daily chart on 17.04.12 the candle close as bullish, so on 18.04.12 we will look for long, I took position bit early, otherwise I can make at lest 30-40 pips. It was lesson for me, next time I will be carefully.
Even i saw it on the D TF, but thought of taking long position once it is confirmed by another bull candle, Cause the candle could not close above the physc level 1.0400ā¦Just my pointā¦
You are wright but I just follow the bias of the last day candle and wait for the price to touch support or resistance for the entry.
Yesterday there was a support in 1hr candle On AU pair when I took the trade but it crosses the 1 hr support and hit my SL and next hour shoot up about 40 .
Yes AU seems to have some support mostly in the European trading hours when the Sydney markets are closed and profits booking takes place.
Bagged 32 pips on GU Long trade todayā¦Entry was at 1.6030 ā¦exit at 1.6062ā¦SL - 10 pipsā¦
It was a very good trade but missed it.never mind will catch the next one.
Okay, I find this thread really interesting, but thereās something I donāt understand. How do you use yesterdays candles for a sign? Have I understood it correct, you find the same candle yesterday (same time and so on) and if that had been a long trade you go long and short you had gone short. Can someone please light it up for me, thanks 
Hey Kongdaff,
Read From the first page there is no short cut to learn. It seems you didnāt read from the beginning. Nikita Describes the trading system very clearly and simple English.
Hey Salimvp
I have read it, but I still donāt understand it.
If yesterday was a buy, then today is a buy.
If yesterday was a sell then today is a sell.
I donāt understand how today can be a sell/buy when yesterday was it too, it has to reverse sometime? Or have I missed something.
Thanks for the reply