aud channel

Discussion in 'Forex Trading' started by PaulRon, Oct 15, 2008.

  1. PaulRon

    PaulRon

    here's an aud channel
     
  2. Extraordinarily short time frame. Not sure much can be done without taking on significant risk.
     
  3. zosorock

    zosorock

    I think it depends. What is a reasonable risk to you?
     
  4. See? Channel was vaporized just like that. If I had played the channel and gone short at the top, I'd be screwed.
     
  5. PaulRon

    PaulRon

    was just posting for a friend

    perfect trade
     
  6. zosorock

    zosorock

    Ah, I see, I thought you meant going long at the bottom. It seems to be still valid the way I see it. IMHO it is still trading within that channel/standard deviation.

    I made a bit of "monopoly money" (demo account) on it :D Went short @ 0.6641, out @ 0.6631 ($100). Then went long at 0.6635, out @ 0.6665 ($300). Both at 100:1 leverage betting $1,000.

    I know you are veteran, so, in your opinion (which I highly regard), you do not think it is worth it to shave a few pips here and there in the 1-min chart?

    Thank you!
     
  7. PaulRon

    PaulRon

    thru 38 fib and some resistance
     
  8. PaulRon

    PaulRon

    im out... need another entry

    10 to 1 risk to reward on this trade gotta love em

    <img src="http://elitetrader.com/vb/attachment.php?s=&postid=2126631">