Nice one Magic, i missed it, too busy changing contracts, i think that was a good fib play (1 min) it pulled up at 261.8% exactly (futures) I'm ready now.
seems that 1.5420 to 1.5370 they are buying? ( 1.5531,1.5583) ----> Sell Range ( 1.5429,1.5390) ---> Buy Range? AUDUSD Seems OK to long ( 0.9448,0.9464) ( 0.9345,0.9330)
Hi Guys, just a few comments on some posts I saw. Futures roll over on a Thursday (yesterday) - does it affect the market? Well that all depends on - hindsight! Sometimes it does, and when options expire and we get the triple witching hour. One thing's for sure... there's a definite probability that it possibly might affect the market... to a lesser or greater degree depending on... whether it does or not. In other words I've seen them cry "wolf" too often to bet on a fast market. Some of the most boring flat market were triple witching but way, way back I've seen some whacky moves. Just remember, charts tell all and that's all I need to know. Another thing: fear/scared has cropped up in PM's or posts. Fear is a natural part of the learning curve and it must be both answered and overcome. IMHO I consider trading psychology books to be an inferior way to deal with fear. Fear is the sunconscious telling you it does not believe you have mastered your art to the degree necessary to ensure victory or you are unproven in battle. You need to identify which one it is by taking small trades and watching the outcome. Do that too early with poor results and you feed fear. If the results are good fear diminishes and disappears. Master these moves and you will get to a place of peace. It's the same is any field - master the basics and then develop your skillset until you perform without thinking. Think when you test indicators. Think when you learn set-ups. Don't think when you trade - it's rule based - just act. So remember fear is a schoolteacher who reminds you to get your act together or she nags and nags and nags. Yesterfay I said it will be interesting to see where we close today.I actually meant I was interested to see how low we get. I'm looking to see it my daily channel is bust and we enter into a flat day trading range for a while. If so it will be a no-brainer intraday. Draw a TL on your daily low on May 8 to the last 2 lows and that's where we just bounced on the 1 min chart. It's 5389 on my 1 min - easy trade. More over the W/e.
Out @5398. Good entry but not so good an exit. Thought there would be more gas in the bounce there. Yoohoo, wise words on fear there. When you feel it, the fear is telling you something, that's for sure.