Raining pips April edition

Wall AUD broke the lines we put up but if you pull up a daily chart it bounced right off the bottom trend line at 9175.....i think i had the line on my charts b4

I just drew the daily off the low in early Feb and if you include the leg on 2/9 then it looks like the move yesterday BARELY broke the line..

I think looking at trendlines has its limitations..for example if GS ended up being sued by AIG and multiple parties where this turns into a multi BILLION dollar event and other firms are also attacked, you would see risk off start to heat up and risk on go flat and all these trendlines and moving averages wouldnt mean a single thing.

The market is moved by sentiment, news and momentum, I would rate trendlines and moving averages as a top 10 indicator but positively not a top 5.

Oh and risk on is back after being gone for all of one day on Friday..what a total joke.

i agree but when there are news events you just have to figure out how it affects the pair youre looking at then trade it using techs...if youre watching a pair AUD for example and its dropping because of news the tech levels at least give you an idea of levels to watch...the bottom trend line held this time if it didnt you know you could let it run..that line then becomes res moving forward

 

I agree with that..if the fire is going to be contained they usually use technical areas of support and resistance to guide where they take ranges..

I think it is risky trading off support lines in a bad market and resistance lines in good markets..but for a risk entry point it is a good spot.

I regret not picking up some LB below 140 last night..I wasnt around and that was good for an easy 200 pips.

RBA mins....AUD just spiked 30 pips

Hoping for dovish comment here so i can sell

Interesting Aussie comments..

Smells like more rate hikes and quick..they are selling it off now but I gotta think she goes higher longer term given the view of them raising rates sooner than later.

my damn internet connection is flipping in and out. gonna look at some charts here

what do you guys make of eur/chf ??

I dont like the difference between the charts on MT4 and my platform....i see a rejected cross of DI lines on MT4 and they arent even close to each other on my charts

https://yfrog.com/2teu2g

 

https://yfrog.com/2deurfg

 

 

 

 

 

Its a total snoozer..

Look at that 4 hr chart..

Yeah remember in the past where you would call a cross and I would wonder what numbers you had?

I wonder if there are setting differences?

You could always buy a single lot and set a 50 pip limit and just wait for the SNB to make you some scratch

Setting are the same as far as i can tell.....14 and fixed min[0]

Then it has to be the way it is calculated..or if there are differences in pricing and time values.

yeah something is different..ill see how it goes next few weeks running this demo here...ill trade the crosses and see how they work out in the demo...

Ive been looking through the charts trying to see where the DI lines are on MT4 when i get a cross and vice versa...seems the crosses on my platform come early offering a better entry but when MT4 shows a cross its well into the move...some of the crosses in MT4 are good buys though and are in the middle of no mans land on my chart...there really is no consistency...was hoping the crosses on MT4 would show as TOPs or Bottoms but thats not the case...

 

Sold GBP here failed to push through MAs and is drifting lower...should be some support just under 53 but ill be looking for 5273 100MA on 4hr

buck isnt the 100da 152.53 ish on the 4hr chart ?? 

i got it at 5277 on my 4hr pro charts and 52587 on MT4...

gbp/usd correct ?? 

yeah GBP/$...using SMA or EMA?i got SMAs up on my chart

yeah sma's on forex.com charts its about 1.5253.  100 day MA 4 hr chart 

i restarted my laptop and its still at 5277

My time is messed up on my charting system again maybe thats whats wrong

well if its 5253 you're in even better. it just dropped about 20 pips too nice 

Yeah IDK what going on with my laptop...just had them try to remote login to figure it out and the guy couldnt fix the time issue...he took a screenshot and is going to forward it to IT department

As far as the trade goes im in good shape here..i really couldve entered a few candles agao but i wanted to be safe