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Still trying to take advantage of one last push to the downside of NZD. I have a long on AUD/NZD but I'm watching closely.
I really like to trade off the TDI. In most cases we see a deep dip then a bit of a run. Then it usually comes back again with a lower price but a higher TDI level.
This is when I get all jiggy because I will draw a trendline on the two low points of the TDI. I then look for the TDI to go up again and return for a 3rd touching of the trendline I just drew.
Once I get it, I jump in to the long side.
With that all said, we have only seen the first deep dip of the TDI. So if my master plan is to work (big laugh) then we should see one last dip on NZD/USD if you are watching the H1 chart....
The bollies are extremely tight on the M15 chart of AUD/NZD. We could see some big action soon....
I think you're right. Just a little more weakness overnight on NZD but then we could see a run. That many retail investors are long already? Wow!
Hey guys, take a peek at AUD/NZD. It had a nice bull run and looks to be consolidating again. Might be a nice entry around here (1.1085) foor a long position. I put a TP of 1.1130 on it based on the fib extension tool.
Looks like they want to push NU way down to .7812 or so. This is my .886 retrace on the weekly chart. This is one ugly dive and someone is making huge money.
I've got the daily chart showing some really tight TDI consolidation and we have hit .776 retrace on the weekly chart. If I were a betting man I'd probably start to look at a long here. But the falling knife scenario has me too scared to jump in.
I'm on the tourist boat still watching the waterfall but would love to jump in for a refreshing swim, just afraid I might be sleeping with the fishes.... lol
Just checking in on the board.... How's tricks?
Decided to get out while the get'n was good. We rolled over to a NU long here with a TP around .81 but I may get out way before that...
Moving the TP down to 87.25 or so. Looks like it wants to test support again....
Jumped back on the NJ short after she came up for air....
Look for a quick trade with a TP 87.50
Nevermind.... I'm out with a 20 pip gainer...... lol
That was easy...... Love them spikes when I'm a winner!
Taking a shot here with NZD/JPY to the short side
OMG, we made so much money on those two guys. It was like taking candy from a baby.... LOL
That's my thought exactly. I can't tell ya how many times a spike will take me out of a position and then eventually hit my target. I'd probably go with the weekly options as well. But I need to research a bit more....
I drug his but screaming and yelling into the dark world of options. Then he drug my but screaming and yelling into forex.... lol
But I was thinking about going back to options. If I could use this platform to trade anything then it might be exactly what I wanted....
Can you trade options on stocks, bonds, futures and forex all from one account?
Oh boy, Oh boy, Oh boy!!!!, asks the small child from the back of the room......
Ahhh Binary options? TradeKing was trying to introduce them a few years back but I just dismissed the idea. Maybe I need to take another look.....
You can buy options on forex pairs? Is it an ETF you are trading?
I'm starting to hyperventilate over here..... lol
Had the same thing happen to me last year. I sent a message to ihub admin about it and asked to be "grandfathered" into my last set up so that I didn't see the ads.
I wouldn't get excited about anything going on here. Let's think about this for a moment.
Some have said that the history of this company does not matter. We have a new CEO. I guess that means peaches and cream for everyone.
But when you take over a shell wouldn't you need to clean up the mess from the past before your new scam could go forward? It's gotta take a whole lot more work than just changing your stated business model on pinksheets.com or otc.com or whatever the wild wild west is calling itself these days.
There are a whole slew of people that got all locked up with this "preferred share" scam. When and how will their shares finally get converted back to freely trading common shares? When will brokers finally decide to let ONCP trade in the open market?
Oh and remember how SPZI had part ownership of ONCP? I guess that just disappears and SPZI just sits in it's dormant state until another would be scammer decides the SPZI name and symbol can be used to steal more money.
Yep, history has no bearing on this new scam. Open your wallets boys and buy, buy, buy.
I'm not to proud to admit that playing these penny stocks was a huge mistake. But thanks for the lesson and pushing me into options and then forex trading.
Oh look, zero volume today.... Nothing to see here, move along.
I still remember how our "preferred" shares were supposed to be valued at $1.00 before they were to be converted back common shares. I'm sure that's long forgotten and I'll just be lucky to escape this position with the same amount of money I originally paid.
Yep, what a POS. And looks like they may be getting ready to start the BS all over again on folks that don't know the history....
They can play all the games they want to play with any worries. Many of us have our shares all locked up in the "preferred shares" scam. I serious doubt we ever turn "green."
Very interesting stuff!
Well that EA short blew up on me.... lol
This is why I said to play it small and get a feel for it and then use it as any other tool we have. Was stopped out on EA short....
The current play is EA to the short side. The tool has a TP of 1.4162. This seem a bit extreme to me so I turn to my chart which shows current support around 1.4185 or so.
So to me a realistic TP would be somewhere just above my support level. I set the TP right at 1.42. My entry was at 1.42471, so we are looking at a possible gain of about 47 pips. I'll take that everyday and twice on Sunday's.
The point is, using this tool gives me a really quick glance for entries without having to constantly look at charts and waiting for the charts to work themselves into a entry situation. This has been a major issue for me as I always seem to want to jump the gun just before the chart really gives me a signal to make a move.
This is still a work in progress so take it all with a grain of salt. I have about +17% gain so far for this week using the method I described earlier....
The technical analysis tool on Oanda is proving to be a good place to look for enries, imo.
After opening the tool, I turn to their "Our Favorites" tab. I then set the "Set minimum % probability" to 70%. The default is set at 60%. So cranking it up just gives us a higher chance of reaching our goal.
Next I look for 2 things. #1 is just picking a chart that shows a major pair such as AUD/USD. #2 is a bit more difficult because I want a chart that is fresh. By fresh, I mean a chart that just appeared on the list and the target price is still got some room to run. The charts they have stay on the list until they have reached their target of fell off and failed. By refreshing your screen you can see new opportunities appear as others fall off.
After I have chosen an entry on one of the charts I look at the "Volatility Analysis" tab. I enter in my pair and look at what they say should be the price range we may see. It gives us a good idea of where the price may be over the next 24 hours or so. Using this we can set realistic stops and target prices.
We should be able to get at least one trade a day that produces 25 pips or better. That may not sound like a lot but it adds up quickly.
A word of caution..... Try this method out in extremely small units. Get a feel for what is going on and gain confidence before you use it to make your normal sized trade. Remember that this is just another tool and nothing is 100%
Just took a small long position on AJ based on the technical analysis tool. Trying to see if we can use it for some scalping. I set the TP @ 97.15....
I'm in it today. I bought in and put a .82 target on it. I really wanted to buy in yesterday after it broke my trendline on the H1 chart.
I bought today shortly after that little dip to retest that same trendline. Looks to be doing a little consolidating right now.
Also, that technical analysis tool I spoke of pointed it out. Of course they pointed it out after you called it. Watch out they might be watching your every move..... lol
Ya, I see that also. I might only use it also for the major pairs. If you can get 2 or 3 trades a week out of it then it may make it worth it. You just can't follow it blindly but it may be another tool to use....
Well, the Oanda trade analysis worked (sort of). If I would have set my stops as instructed, I would have scored a nice gain by this morning. Instead I got cute and set it to tight and recorded a loss. EA bounced up and took me out and then dropped about 100 pips.....
That's a good idea. I haven't used the tester a lot but this might be a good thing to throw in there....
Ya that's it. Play with it a little and let me know what you think. First impressions is that it gives me a lot of pairs I don't play on a normal basis. But it's interesting....
Mine opened another tab in Firefox. And it basically gives all kinds of charts and analysis on different pairs. Just took a small short on EA based on what it says. Too soon to say if I'd trust the info just yet....
I'll play with it for a week or so. If things look promising I'll do a video on it....
Has anyone using Oanda's web platform ever noticed the cool stuff they have on the left side of the screen? I just clicked the "Technical Analysis" icon and open a whole treasure chest of info.
Only took me about 2 years to take notice of it. I'm a pretty quick learner.... lol
Looking a little bounce here on EU. Target set at 1.31.....
You might be right about NU to the long side but I just can't see myself taking that long position until we see a break in the current downtrend on the H1 chart. I'll cheer ya on from the cheap seats..... lol
Thanx jav
I've been kinda away from trading for about 2 months or so. Just so many thing going on from my health, my baby brother passing away, car problems, new house trials, etc. Been a rough year and sometimes you just need to step back and take a peek around or you'll miss the great stuff going on around you.
But with that said we had a +86% week! Have a great weekend all
Looks like AU has some momo to the downside and is approaching that .89 target. Not sure I'd enter here though. I've taken all my pips for the week and think I'll stay in all cash for now. Let's see what the weekend brings...
Just took my 3 pips on a UJ long..... LOL
I got too chicken to really hold it overnight. hahahaha
I might need a few days to see how things shake out....
Was just thinking the same thing after I posted it. We all laughed the last time UJ just keep going up and tried to call a top and short that sucker. It turned out it was months before we saw a weakness in the bull run.
Now we've had some consolidation followed by a breakout. We might just see this puppy keep going for a while....
Also, was watching Bloomberg last week and they mentioned how Japan might start some more easing soon. Their currency is already in the toilet and this analyst sees more easing on the way? OMG!