Thread: Peaks and Troffs

Originally Posted by ;

Short EA 1.4394

I'm still holding from yesterday PA looks appears good, But looks like we'll be relying upon news to push it further south.

Originally Posted by ;

It is great that you have started this thread, good on you, look forward to more of your charts and thoughts.

Thanks mate

Originally Posted by ;

quote I am still holding from yesterday PA looks looks good, But looks like we'll be relying on news to push it farther south.

Yeah, not a hundred on this one, but I took it due to the swing at the yellow box.

Originally Posted by ;

quote Yeah, not a hundred with this one, but I took it because of the swing from the yellow box. picture

Yes well I feel the EUR has put itself up for a dive, I really don't enjoy the AUD extended (looking for a brief setup) but I believe if the EUR falls difficult this will deliver this pair down.

Originally Posted by ;

quote Yeah, not a hundred on this one, but I took it because of the swing in the yellow box. picture

I took profit as intended and got stopped out on the past lots at 1.4358

Entered long this arvo at 1.4385

1 Attachment(S)) Update

I'm searching for longs on AU.

Hey Dave

Okay I see the manner by which you exchange now, buying high and buying higher, with good RR. I think I got the bulk of it. Seems like a good egy, and entries are significant.

I'm doing really the exact same thing but I suppose we're on various timeframes and have distinct risk management. I.e prevent reduction, TP

rather than taking the reduction I back my trade up in the most logical place. I walk from this trade with Break at profit, and then once in every while I shall take the loss, When I believe that the trend has changed. Finest example is that the EURAUD right now, if I had shorts and a couple of ups then it'd be time. The loss is costly, but the most significant thing is taking focus on the daily and weekly regions to make sure I am not buying high and then high on major resistance ect... that is where big reversals occur and losses can be very costly, so as long as I avoid these regions ill conduct ok.

Couple of queries -

Is there any reason why you do not exchange different pairs when set up's occur? Like EURUSD, GBPNZD has been cranking the last couple of days

How come your currently on the AUD your wanting to buy? You speak about promoting lower and low, but your going the other way? Is this off something else, or just a view, or the pivot's mid August because your feeding.

Originally Posted by ;

Hey Dave Ok I see that the way in which you exchange today, buying high and buying higher, with good RR. Well I believe I got the bulk of it. Appears to be a fantastic egy, and entrances are significant. I am doing the same thing but I suppose we're on different timeframes and have risk management. I.e stop loss, TP rather than taking the reduction I back my trade up at the most logical spot. I walk out of the trade with Break at good profit, and then once in every while I will take the loss, When I believe that the trend has shifted. Best example...

To answer your query but in no order:
I watch closely 8 pairs including gold. Since I really don't like how it moves EU is rarely traded by me. I find AU EA the most predictable. GU is erratic for me personally. I do trade NU, UJ and AJ when a perfect set up happens. NU is just the cousin of AU, I watch them for correlations. When I exchanged pairs I'd have to lower my entire risk and therefore water down my favourite pairs that I am confident with.
I am very cautious when buying higher into a major level.
I don't use pivots.
I am long AU and short EA now. I probably will have a reduction on those 2 today.I'm extended AU because it created a swing higher on the 15 min chart, not good but I believe it is oversold and in a terrific amount to buy. I really don't think that it will go up. Be great before we head up, to see a retest of the low.
I've got a ! St TP of 1:1 to get the risk out. I use a 20 to 20 pip stop risking 1 percent. Rather than have a significant stop loss I am testing the market, taking off little bits and leaving a few on and taking and adding a few off and leaving the remainder on to build a posture. I will post a chart of those swings and entrances and stop movement on the last move down on AU. I didn't take them (sleep and lifestyle). Check how many did not retrace over 20 odd pips following the rest of the swing.