@mphpopular
Wow..thats good.
I can see that you choose very good pairs.
CAD/AUD rise since oil price is moving up to USD68 from USD62 last week. No wonder you short EUR/AUD.
Next time need to monitor crude oil movement. Then focus on commodity currency.

Give some tips mah next time..hehe

Anyway what is big TF? So many acronym that i'm not so sure about.

TF = time frame..

@mphpopular
When zoom back in your previous post, i found that you did post some tips on EUR/CAD.
Maybe that time, my eyes been focusing on chart itself. Didn't take look on that pair.

Anyway, will keep aware on your post. Each your posts could bring another hundreds of pips coming in..
Btw, keep posting some good charts wor

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Added on November 3, 2008, 9:51 pm@kelvin_tan
Thanks for your reply.
My head too tired to think whats meaning for TF acronym.

This post has been edited by dreams_achiever: Nov 3 2008, 09:51 PM

lol.. no problem.. just ask as acronym is not common to those that are new to this part of the forum =)

Each of my post bring hundred of pips coming in. But maybe will make you lose thousand of pips as well.

I juz providing some clue and idea which you may miss out.

Dont take it as a trading signal.

try to make decisions on your own.. and if u need further comfirmatoin then only u look at mph's chart.. =) because if u rely on his charts only... its like reliance on others work.. trust ur system =)

I waiting the formation in both EJ and GJ

I currently try to increase my trade based on breakout. But not bottom fishing and top picking.

I believe breakout having higher winning rate for my own, so as the candlestick formation.

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Added on November 3, 2008, 10:53 pmJuz enter one EU short at 1.2775. SL 40pips

My EURCAD trades will be exited portion of it at 1.5170. Holding 860pips now.

My AUDCAD doesn't seems to be nice. HOlding +40pips.



This post has been edited by mphpopular: Nov 3 2008, 10:53 PM


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Yup..i will try to look what pairs that observed by mphpopular
and then will try to analyse myself what is reasons that he is looking on it

If not sure, will post charts for open discussions.
Anyway, just closed A/U @ +78pips for today
Looking other pairs for trading signal.

Well, still developing my system on forex trading. Still not confident yet.

See AUDCAD is whetehr break top or down

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Added on November 3, 2008, 11:05 pmThis few day. I start to afraid volatile pair. I wont easy put trade on EJ GJ, only will trade those which is breakout and very confirm tat kind.

EU GU more aggresive trades, especially EU.

This post has been edited by mphpopular: Nov 3 2008, 11:05 PM


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Hey guys a newbie here who's just starting out in forex trading, i pretty much understand the fundamental issues pertaining to forex and the underlying causes that change currency movements, but am pretty clueless when it comes to the technical side of it, things like reading charts, spotting trends et cetera and different strategies in trading, which i believe are all crucial in trading short-term. So i'm just beginning my education in babypips.com, awesome site by the way, and also hope the sifus here would answer my queries should they arise.

Starting out with almost 0 capital, and am based in Australia, boy how much has the Aussie Dollar fallen since mid July, if only i started back then and predicted this trend. Anyway am opening an account with Oanda, and hopefully can get a job soon and get some capital. Current aim is to be a discretionary trader, once i master all the technical analysis and have the time i shall become a scalper. I always take comfort in telling me i'm providing liquidity to facilitate the world business so i'm not exactly a leech .

Ok enough with all the crap, just wanna ask what's your forecast in the next week and so for the major currency pairs and why. The RBA is highly expected to be announcing a 50 basis point cut tomorrow, i suppose AUD/USD and AUD/JPY should be short?

AUD/CAD seem more like in trading range. No trending yet.
But for this pair, i couldn't see any fundamental reason for this pair. Both also commodity currencies.
Just difference is which currencies will weigh more compared to other when crude oil price is up.

My strategy was:
1)Trade one commodity currency against non-commodity currency eg: AU/USD, AU/JPY.
2)Trade one lower currency of high interest rate against low interest rate. Eg: AJ, EJ

@dreams_achiever
before that... identify the long term trend and dont go against it =) its the most important and probably the thing that would help u make most money.. for instants.. the past 2 months we've all been only shorting EU =)

Oppss..using wrong strategy liao.
Actually previous post is talking about what usual currency pair that i will trade and not about forex strategy

Yup, true.
Im using Triple screen trading strategy. View longer term first(weekly/daily) before zooming into hourly timeframe.
-> erm..later refer back to note to recall back
Thanks for your kind reminder

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Added on November 3, 2008, 11:30 pm@orangysb
By referring to my post #1696, i did attach chart on AUD/USD.
Based on chart, it is forming double bottom, below 50MA and forming descending triangle (erm..maybe too technical term for u. Hope you understand )

From fundamental view, this week will have AUD data out. Mostly will be negative. So it is time to short.


This post has been edited by dreams_achiever: Nov 3 2008, 11:30 PM

I already short EU for the 3rd time within 20min. All position on EU is closed at +1. So boring. AUDCAD also closed at +1.

Left laz short on EU.

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Added on November 3, 2008, 11:49 pmGJ breakout is not valid when you see it in H1 chart. m15 does breakout, but not in H1

This post has been edited by mphpopular: Nov 3 2008, 11:49 PM

Speaking of TF, i am using a 4hr chart to guide me in stocks and currencies for longer period since now i am working and don't have time to monitor the market. So, guys do your own DD wisely!

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Added on November 4, 2008, 3:49 amYou would want to close your short positions, believe me all these bad news for AUD has been priced in. Look at the daily chart for the currency pairs.

IF you guys are scalping, yeah then you might want to short and take some pips here and there. But there's a reversal coming.

This post has been edited by AdamG1981: Nov 4 2008, 03:49 AM

@AdamG1981
Looking at daily chart, most of indicators is pointing uptrend.
Nvm, i've closed my position. Waiting for A/U break its channel first before start long position while gaining interest rates
My short position is just for scalping purpose .

my short on EJ took 150 pips profit .. sadly i bought 188 units only.. was testing market. My reopened EU short is now holding 80 pips... SL set to +60.. i will trail it tightly

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Added on November 4, 2008, 12:21 pmclosed EU +105 pips..

This post has been edited by kelvin_tan: Nov 4 2008, 12:21 PM

Im still a newbie in forex market eventhough ive been traded since 2003.. im going to find alternative broker instead of marketiva and forexwebtrader.. are any reliable broker u all can recommend? so far my winning stat i would said 70-30 which i think good enuff for me..but at times..u know what i mean..

Hav a look on EU 15m chart. You will get a H&S which is broken. It is now trying to retest the neckline. So I'll short from the neckline. Juz wait and wait

Now i waiting. If i see a DOJI in H1 chart. or some bearish identical item, then I will take the short. If not i wil wait for higher price to short.


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