syk1kz Posted August 16, 2010 Author Report Share Posted August 16, 2010 (edited) i am short on my live with a wide stoploss above 90400 i will be aiming for a 1:3 risk:reward scenario here as i believe the audusd has the most to loose since it advanced the most. idid enter a while ago though on my lunch break :) i was to busy to post though, anyway better get back to pretending to work forgot to look at the cal for today, noting high impact aud news this morning, will look at it closer to release time support is 89.30-50 ish though so i have alot of breathing room Edited August 16, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 16, 2010 Author Report Share Posted August 16, 2010 euraud still floating, gonna close it out for the 5pips since aud news coming up later Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 16, 2010 Author Report Share Posted August 16, 2010 http://a.imageshack.us/img801/7070/eurusde.gif Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) looking to take advantage of positive aud news to get short on audusd and this might push euraud out of its consolidation www.dailyfx.com/calendar http://my.jetscreenshot.com/4111/20100817-79np-102kb.jpg Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 news wasent reallt market moving at all, no spike atleast lets see what happens over the next 30mins Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) audusd break above 9000 possibly would get me into a small and quick long position, otherwise im looking to get short any minute really 88700 support 90000 resistance 90400 resistance Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 missed the break, not going chasing price will use this as an opportunity to get short at some stage Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 audusd heading towards overbought, and possible trendline resistance, a bounce down here will define this as a trendline in my book. 3 seperate touches and reversals are required for me to consider it a real trendline. consider this - if you take a straight line and you have point a and point b, no matter what you do you can make a trendline. Bring in point C and now its not so easy to make points a,b+c line up unless there is something keeping price restricted - a trendline http://img708.imageshack.us/img708/8279/audusdu.gif Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 looks like nzdusd has defined a top here - possibly watch out for a short entry to present itself http://img153.imageshack.us/img153/1160/nzdusd.gif Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) audusd is now overbought on intraday, and touching top trendline m30 also overbought hourly pushing near overbought Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 i expect aud gains to be well called below 90400 as it is fridays high, we will see i guess along with other analysis i do not wait for RSI to leave the overbought/sold level, personal preference i guess Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 looks like audusd has well and truly stalled at last fridays high as predicted a few posts back - This does not mean it will go retest last WEEKS high before plunging a drop of deathly death [ it will fall ]. be vigilant and ALWAYS be smart with leverage and exposure Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 The only way i can trade forex at work is VIA www.fxsolutions.com.au and using the web based demo, which i really dont want to do since i dont like the layout, will try and find another solution tonight as i have nothing to do for 7 hours now :) this is like forex without the risk yay free money. Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 audusd has pushed above the roof of 90400, looking to get short at some stage with channel reversal, and fibonacci Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) http://imagefruity.com/images/24688686485506106662.png watching 61.8 retracement and channel here, looking to get short at some stage Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 last post for today these charts are pissing me off somewhat audusd has pretty much stalled at the 61.8% retracement, this would probably be a good short position here with a wide stop above last weeks high - well over 100pips in risk, but the downside potential is big from here out - make up your own minds and decide if what i see is what you see , if not dont place the trade it's as simple as that. this will loosely apply to nzdusd and audjpy since they are all following a somewhat similiar pattern, audjpy has a bit to go before its trendline though http://imagefruity.com/images/54059815606869300988.png Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 if you do enter, since there is a wide stoploss i would reduce leverage and look to gain extra pips out of this one, not all trades are going to win, infact we should assume ALL trades will loose, then we are not bringing emotions into play when we do indeed loose [ well thats in theory anyway ], and when we do win we also should not be surprised. We should learn to trade forex without looking for a thrill, thats when accounts get blown up Quote Link to comment Share on other sites More sharing options...
chrisbenjy Posted August 17, 2010 Report Share Posted August 17, 2010 reduce leverage Can you do this on MT4 demo accounts without opening a new account? Chris Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 i wasent very clear i guess, i meant do not go positioning large lots, reduce the leverage on the lots, not the account and no you cannot change demo leverage without opening a new account chrisbenjy 1 Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) if i was home i would be shorting now :| i would be looking at stoploss around 0.91700 - 100pips risk TP 0.88600 - 210pips draw aline at 88600 on audusd on ATLEAST a 4hourly chart and zoom out a bit, you should see it as a potential TP level, and also a level price will stall at since it made a double top here in june and july - strong support there. Also we tested it as resistance this week, so i expect a retest at some stage Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 took a trade on this trading station demo, will see what happens i guess http://pic0.picsorlinks.com/ph_or_36819_20ff1df.png Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 isnt moving much since we are heading into the asian very soon, but since this demo is at work i wont be following this trade until 11pm tonight australian time http://pic0.picsorlinks.com/ph_or_36822_126ae14.png Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) GBPUSD M15 chart - pink line would be the daily channel that ahs been holding for some time green is probable support, looking to short on a decisive break of the daily channel AND support since they both bascially are in the same place http://imagefruity.com/images/94026535002484045499.png heres an hourly zoomed right out so you can see the channel and support line better http://imagefruity.com/images/63917558521394938877.png Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 (edited) line should be at 1.55400, guess i bumped it somehow - its 20pips lower than where i would like the SS to show it  there thats better, sorry :) m15 http://imagefruity.com/images/62345981798640241156.png hourly http://imagefruity.com/images/71880355017923888925.png Edited August 17, 2010 by syk1kz Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 17, 2010 Author Report Share Posted August 17, 2010 another intraday setup here - NZDUSD looking like its running out of steam - looking for a break of noted support which it has tested many times and failed. - also note RSI divergence present on the below M15 chart http://imagefruity.com/images/12542137413646457272.png Quote Link to comment Share on other sites More sharing options...
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