Idea Origination

Discussion in 'Forex' started by btowntrader54, Jan 15, 2009.

  1.  
    #31     Jan 20, 2009
  2. Where do you get your forecasts or how is it developed such that you're able to have confidence in those predictions?
     
    #32     Jan 20, 2009
  3. Again;
    This means you have placed a trade to support this idea?
     
    #33     Jan 20, 2009
  4. One quick note to all posters: Please explain your reasoning for your trade opportunity. Don't just post some nonsense, say the price is going from X to Y, and that's it. Add in some sort of explanation - it can even be written onto the chart.



    That being said, here's another EURAUD short.

    Price hit very strong resistance from a horizontal scalp line and the 25x5 DMA at ~1.9920. The price has hit and declined three times in four days and eight times in the previous four months. Next level of support is 1.9515.

    Stop around 1.9930.

    [​IMG]
     
    #34     Jan 20, 2009
  5. hey strader..I noticed you used DMA double moving average a lot...what is this and why do you use it?what signals you look for using it?thanks...
     
    #35     Jan 20, 2009
  6. Displaced Moving Average
    25x5 - 25 period MA pushed forward 5 periods
    Reduces whipsaws and provides strong confirmation of trend continuances/reversals
     
    #36     Jan 20, 2009
  7.  
    #37     Jan 21, 2009
  8. Eur/AUD has too much support. Tried a short last night, bailed after a strong bounce off s/r, +24. Lucky.

    [​IMG]
     
    #38     Jan 21, 2009
  9. As long as the close is below the two lines of resistance (DMA and scalp line) we should be good to go.


    [​IMG]
     
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    #39     Jan 21, 2009
  10. EURAUD Seems Like a buy till 2.03 IMO
    with a pick below 1.9900
     
    #40     Jan 21, 2009