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Aud/AUD live trade -little or no corelation AUD/USD ferk! any more errors and i can't correct now as off out ATB
Ok folks update ontrading with dollar index: Aud/AUD live trade -little or no corelation crude: noticed early hours 4am to 6pm it was in confluence with the dollar, i.e dollar went down and crude went down! after that was tempted at 8am to trade as it seemed to be moving inversely with the dollar. However, early hours trading threw up warning sign. Note Crude was playing off (very well) it's own levels. Had i later traded crude it would have worked out ok. conclusion - inclusive, gamble to trade against dollar, as you don't know when it will break inverse sinc. GBP/USD - (traded own personal method), but kept eye on relationship with dollar. Obviously absolutely no corelation in morning hours (too volatile) but that's ok as plenty of UK data out in the morning and I wouldn't have expected adherence to the dollar index. However, limited conformity. However it moved to its own tune (sspt ress) Gold again a few timeframes did not work out (notably 9am slot) - have to be honest i longed gold at 2pm (because dollar was hitting R1 for the 2nd candle) - closed at 1151 - so good result. however dollar dollar bummed (stopped dead at pivot) so closed my gold. Good result, But had i stayed with it, would have played further as gold penetrating it's own R1 point and perhaps I could've got to 1156. But no great loss there! that's why I quizzed Mella about her short on dollar at 1150 - 'cos i did the exact same opposite I closed my gold long at that point!! Eur/usd - good results on trading this as worked well in conformity with the dollar index, but again it was working in it's parameters. Overall conclusion I can see why you guys like this, as it is an indicator (better than average, and with the benefits of not been lagging in nature which is fault of ALL indicators) but doesn't work all the time and with the instruments you would think it should work with. the god particle it isn't, but rest assured I shall refer to the dollar regualarly as a guide, nothing more. Mella, my advice to you spend the weekend reading up on pivot points, and if you can combine them with your prowess of dollar index correlated trading, you can be the next Mrs Warren Buffett! ATB and enjoy your weekend folks, off to take mrs bahman for a dinner on meagre proceeds of first aud/usd trade of the day!
Mark re babaypips I have spent many hours on this site previously Personally recommend it, clear laid out easy to understand!
PS levels for the dollar PLEASE!!!!!!!!!!!!!!!!!!
just closed aud/usd 10 pips, 100 quid to take the wife out tonight, not bad but still fuming over missing ftse gap fill!
however, dollar constant/ slow decline, but fTSE bounced up off gap fill. That is it fell in the hour frame window but is rising, dollar still falling.
to be impartial: the eur/usd is behaving exactly opposite to dollar - as the dollar camp would have believe. However, the eur/usd was/is playing off it's own sppts at the same time. but let's concede to the dollar crowd
crude CURRENTLY is not behaving the way it should according to the Dollar theroists'
mella what time frame do you use please? also i note that dollar tested and is now retreating from resis. however, aud/usd is testing the sppt again. this is contraray to what should happen. what am I doing wrong?
Hi mella/ TIe, please see my last post from last night and all posts this morning on SB forum, let's play....
TIE - received thanks matey! - wish I'd spotted that channel sooner
Bull flag!!! there was a bull flag formed 8/3/10 11am - 9/3/10 7am Then price dropped some 45 points Where will this go - LOL! albeit longer this stays over 5600 the more i'm inclined to double up and long
TIE: yeah, you are one lazy SOG!! lol Good job I've got a final account to do, as this is like warching paint dry
TIE - unless of course the 5th wave to which you refer is infact wave C of the corrective rally: waves 1-5 being evident (from 22/10/08 to 9/3/09) on your weekly. There was infact a 5 wave down on the 5 minute chart earlier today from 5620 to 5565, and what we have seen since (that low) is merely a correction. Possibly. just my thoughts ATB PS - something doesn't add up on your 4hr rising channel chart - perhaps you could do a quick pastie?
PS - all IMHO of course
afternoon Monaco: head and shoulders - NO cup and handle - NO (may form one yet, but not one in existence now). FTSE stubborn little basket refusing to oblige sentiment. this will fall at some point can I sprinkle some LOL's on that, as "at some point" is six billion $ question. I'm still short and will remain so. FTSE has made new high, but too many up days for there not to be a 100- 140 point retrace, even assuming trend UP remains intact. That retrace will take out new high. BULLS - THE best time to have gone long on this was 18/2/10 when this made break previous swing high at 5307. Retrace (at the minimum) due.
"shorter than a winter's day at the North pole" lol!!!!!
Monaco - no i'm not saying dji will drop in this session, but at some point the gap on open will be filled, especially when you sonsider 2 hours in and it's hovering at trend line sppt/ress. which is only a 60 point movement totally unlike dow movements we all have become accustomed I was tempted to short at 10540, but then I'm short on: barcs xta cad/jpy ftse (almost at your figs!!!) so don't want to tempt fate PS zoom works pretty well when i've opened it from LSE - do you have one of those wheel mouse thingies?!
http://img534.imageshack.us/img534/9713/dji5thmarch2010.jpg This is chart(s) of DJI today: daily/ hrly/ 10mins I know it;s nothing to do with FTSE. But: 1) shows gap on opening (10 mon chart) which will be filled at some point 2) note the red dotted line that was previous sppt and is now resistence - one to watch for on intraday basis - may provide intra trading opportunity ATB
thanks Mark. Most spreadbetting co's (as far as i am aware) offer only india 50 or nifty 50(as some call it). but I shall keep searching. please see below link to an article I have been reading last day or so, which may be of interest. http://www.daytradingshares.com/ the day trader tips are well worth a read. Plus the website gives a good overview for anyone looking to trade the indian market. PS - far as i am aware non indians cannot invest directly into the market, but various ETF are available to counter this problem. I'm only looking to trade the indice intially.