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[jungles]

GBPAUD
buy 5061 (limit)
SL -31
TP +140ish

edit: cancel, pending red news
.

 

[Lord Flasheart]

This is my aussie chart. i am thinking we may get a fall to the lower line and beyond,but that could be after this last leg up that may just have turned. Basicially Im not sure but may take a low stakes and risk short as I could get a fall to the line and maybe more.
I have similar thoughts to you about GA,there is always value about buying from an area like that,the rewards outwiegh the risks.
sorry Im pretty much on the fence again

What you are doing by comparing the two pairs is very important IMHO.Most just look at one chart. Its a lot easier when you have more monitors

 

[jungles]

Lord, thanks for your view, i agree, cross-pair analysis is another indicator and a good one, i use it often

have reordered to buy GBPAUD @ 5062, not sure it will get back there
.

 

[jungles]

GBPAUD
buy 5066
SL -32
TP +130ish
.

 

[Lord Flasheart]

not had a trade yet this week,normally average 3 a day.Tempted by a short on aud/chf but its a weak trade

 

[D.Gilberto]

No trades either, looking at NZDUSD short potential at 79305 (although I think it`ll be spikey there - so maybe a little higher)

Watching SP - AUDUSD and USDCAD

 

[jungles]

talking about cross-pair analysis, some statistical support
.

 

[Lord Flasheart]

while were bored sensless lets analyse the kiwi and see if we can agree or influence each others opinion. I would happily sell if we pullback to the .7970 area shown by the rectangle.To me it would be a clear pullback to the line and also a repeated pattern from the previous line. my methods are simple,what are your thoughts

 

[Lord Flasheart]

talking about cross-pair analysis, some statistical support
.

where do you get your stats from. I look at correlation but I would generally do something like this before a trade.
1) look at eur/usd
2) look at gbp/usd
3) If i feel that eur chart looks stronger or has a nice pullback, I would then look at eur/gbp as well and see if that also looks bullish and then either buy EG or buy eur/usd and sell gbp/usd. if im wrong about the direction of the eur/usd then theres always a chance that the gbp/usd will fall relatively with the eur/usd and I wouldnt lose. well thats the theory

 

[jungles]

that's how i do it just eye-ball the charts, compare and contrast,
the stats are just interesting

i often use AUDUSD & GBPAUD together
and NZDUSD & EURNZD together

Forex Correlation

where do you get your stats from. I look at correlation but I would generally do something like this before a trade.
1) look at eur/usd
2) look at gbp/usd
3) If i feel that eur chart looks stronger or has a nice pullback, I would then look at eur/gbp as well and see if that also looks bullish and then either buy EG or buy eur/usd and sell gbp/usd. if im wrong about the direction of the eur/usd then theres always a chance that the gbp/usd will fall relatively with the eur/usd and I wouldnt lose. well thats the theory

 

[D.Gilberto]

while were bored sensless lets analyse the kiwi and see if we can agree or influence each others opinion. I would happily sell if we pullback to the .7970 area shown by the rectangle.To me it would be a clear pullback to the line and also a repeated pattern from the previous line. my methods are simple,what are your thoughts

So im wanting SP-500 to continue bearish, USDCAD to bounce north - and AUDUSD to break the TL for a longer term position south for NZDUSD....

Believe it or not, It looks complicated but I do keep things relatively simple so dont get confused in thinking I over complicate it as I`ve annotated the charts to explain my thought process for others (baring in mind I have not included other markets for sentiment and it isnt usually this cluttered of course.)

Im almost 70/30 for the trade to take....

(please note - I do not use MACD or FIBs to take a position, I use them to see if it coincides with my reasons for entry - if so I know others are looking at that area to short/buy etc. "self fulfilling prophecy for a lot of other traders" - I don't leave any indicators on the chart any longer than a quick glance.)

(i`ve rushed to wack the notes down so I may well have made an error)

 

[jungles]

i'm bearish on kiwi, but i have no short set-up at present

i'd be surprised to see it get back to 7970,
because i'm bearish on Aussie whose trajectory is probably to the bottom of your channel as previosuly shown
plus i have resistance around 7930-40ish on kiwi

all that could change of course
but that's what i'm seeing right now

while were bored sensless lets analyse the kiwi and see if we can agree or influence each others opinion. I would happily sell if we pullback to the .7970 area shown by the rectangle.To me it would be a clear pullback to the line and also a repeated pattern from the previous line. my methods are simple,what are your thoughts

 

[Lord Flasheart]

we all have similar opinions just our entry areas are different. My overall general opinion of any chart is formed simply by looking at it and seeing if It looks like there has or will be a change or a continuation pattern. The only indis I then use are the correlation and chart comparison as mentioned earlier and the odd major fib level. I am convinced after years of trading there is no real indicators that can beat the naked eye. The more you add in the weaker the signal has to become as standard indis dont filter form time of day and volume traded etc,etc.
So all three of us see similar things about kiwi using mainly our eyes.By the time Ive finished this post it will have fallen 30 pips since our earlier thoughts.Just shows you can be right and still not make a penny
Three vomit buckets required

 

[rsh01]

Hi all,
Too busy to post much, not sure I posted my eur gap fill trade taken sund night but got stopped.
Buy GU@500 SL480 TP535 (SL may change accorsing to PA).

 

[D.Gilberto]

we all have similar opinions just our entry areas are different. My overall general opinion of any chart is formed simply by looking at it and seeing if It looks like there has or will be a change or a continuation pattern. The only indis I then use are the correlation and chart comparison as mentioned earlier and the odd major fib level. I am convinced after years of trading there is no real indicators that can beat the naked eye. The more you add in the weaker the signal has to become as standard indis dont filter form time of day and volume traded etc,etc.
So all three of us see similar things about kiwi using mainly our eyes.By the time Ive finished this post it will have fallen 30 pips since our earlier thoughts.Just shows you can be right and still not make a penny
Three vomit buckets required

Yeah I agree. As I said, I do not use indicators other than ATR to gauge volatility as sometimes I use that for stops along with PA r/s levels.

I only glance at it to see if other Muppet` are using those indicators specific to areas I am interested in. (its barely on my list of things to do in terms of checking any indicators)

One of my 8 page rules is to never get annoyed at anything, ever. I am responsible for any decision I choose to take or any loss I incur.

That includes missing trades. Doesn't bother me, I know I had the bias right though, all that matters. (again, not lecturing or trying to teach anyone anything, just speaking my personal thoughts aloud)

(after all look at the order I had on USDJPY yesterday for short... missed it by 5 points)

 

[splashy]

I am convinced after years of trading there is no real indicators that can beat the naked eye.

Couldn't have put it better myself.

I only glance at it to see if other Muppet` are using those indicators specific to areas I am interested in. (its barely on my list of things to do in terms of checking any indicators)

Me too. I feel like i have to do it with fibs sometimes when i get a signal on a reversal, not because i trade fibs but because i know others do...

One of my 8 page rules is to never get annoyed at anything, ever.

Difficult thing to do. If you've conquered the little guy on your shoulder, congrats. :clap:

 

[jungles]

AUDUSD 60

good close below this magic line i've drawn and i'll be looking for a short off/under the same line
.

 

[D.Gilberto]

Difficult thing to do. If you've conquered the little guy on your shoulder, congrats. :clap:

Yeah of course its difficult, I guess how I look at it; If im disciplined to stick to my strategy consistently and the market doesn't give me what I want (now and again) how is that my fault? How can I blame the market or myself, I went into the market not just accepting my risk but understanding the risk.... (guess I view "risk" differently now compared to what I used to when I first started out)

I think the fact that I`ve spent a HUGE amount of time studying and reading the book "Trading in the Zone" because its dramatically changed how I trade and perceive the market.

I pretty much related to this book in scary ways.

With this said, dont get me wrong, I get annoyed and angry with myself (but try to remain composed) if I enter a set-up that isn't justified or strictly coherent to my rules.... that pisses me off because that is my fault (even if its a WIN!)


(anyway, please don't take anything im saying like im educating you because im sure you know it already! I hate being perceived like im "teaching Grandma to suck eggs")

Enough clutter now! I`ll be told of next

 

[rsh01]

Hi all,

Buy GU@500 SL480 TP535 (SL may change accorsing to PA).

Stop to BE

 

[D.Gilberto]

I may no longer be interested in NZDUSD - Just going to call trades (like we`re supposed to lol) that I enter from here, as like everyone, bias always changes on the fly.