Hi here is my analysis in my first pair for coming week...
That is AUD/NZD pair....
Thus,this week I will be trading this pair....
Hi here is my analysis in my first pair for coming week...
That is AUD/NZD pair....
Thus,this week I will be trading this pair....
in case you have some problem..post here. .
Here,is the daily chart on Aud-NZD
This week I'll be spending 300 pips on this pair..this will be my worst case scenario. . .we will see what happens by next week. .
May be I will lose 300 pips or I will have some legs on this pair which can survive...
Have you tried doing the math on a pair for 2011 to determine how much you'd loose and how much you'd profit?
I'm asking because I have had a similar idea as yours, but discovered that loosing around 50 pips per day is way to much. Especially as ranges can easily last two weeks in a row or more.
Do you put a position everyday or just once you feel like it?
Keep moving and you shall succeed.
Hi mordre
If I loose a commerce on any pair I will wait until pair move away from range. . .if not I will not add any place at all...
Only in preceding chart seem at last per day candle. . .it is a change bar...I mean price went south but buyers pushed it north. . .so in my view it is strong uptrend...
Now I will draw a fib. Expansion to this previous candle...I anticipate following moves
1)price may move directly in upward direction with out any retrace.
Two )price could retrace 50 percent and move in upward direction.
3)price may be in range.
4)price could go southward.
If 1 or two happens I will stack positions..if it is in range then will stop stacking untill price movement away from this range. . .price must make higher highs and higher lows in uptrend. . .if it break low of previous bar then I will not exchange....
At worst case scenario I'll loose 150pips. . .if price goes in my way then I will stack aggressively...
Hope I cleared your doubt...
Second place at funniest pair goes to AUD-NZD
Rationale:It is possible to check previous posts...
This pair Monday took hefty retrace and I believed that this will hit s/l but it could not retrace to this stretch. . .Neither it moved up it moved down...
It had been in a range of 100 pips for entire week. . .At last it shut at receptive of the weekly candle...
Hope it moves upward this week...I will attempt to add legs this week also...
Hello johNal
Nice to see you with this thread... Feel free to post your long-term analysis and trades here:...
We can talk if you are curious...
Cheers
Prakash
hi oathbreaker,
I've been after your commerce record since you started this thread, and you are doing a good job. Congrats on your accomplishment...
regarding gbpnzd pair, I checked it after your article and my idea from supply and demand point of view is that the pair might have entered into a retracement period since it had attained to a (relatively) powerful demand level. I drew the amounts above and below. Thus, I think you'd better be careful adding more short legs till it clears from this zone below, or start to think of producing a few long legs. Just my 2 cents...
continue the good work and great luck...
along with my ideas on audnzd... levels you should be mindful about on daily and weekly charts. You appear to be on the right track with the addition of longs incidentally, you could have begun adding positions sooner if you had analyzed the pair on daily basis according the SD approach. Surely it's simple to talk after what had occurred
Hmmm. . .audnzd...I might have added my positions a week but I want a confirmation to go long.So,I waited yet another week to have the confirmation.