I gather there was also some central back jawboning relating to the Kiwi overnight, just something to keep in mind.
Stuart
Stuart
Price Action Swing Trading - The PAST Strategy
- Thread starter Nigel Price
- Start date
- Watchers 91
I have never traded it and to be honest I have been trying to avoid all the hype, never know, night be time to give it a whirl!!!!
Stuart
Hi Stuart, yes, out of everything on my screen at the moment, I'm liking the look of EURAUD and EURCAD. Of course, I could be wrong, but at the moment they are looking pretty nice to me.
I'm not as excited about NZDUSD and AUDUSD, to be honest, I think they are giving off somewhat conflicted signals at the minute, but I suppose it depends on the length of your outlook. On NZDUSD, the bulls closed out last week very strongly, so I would like to see some weakness before I became interested again to the downside. AUD/USD actually looks quite bullish now too, so that sort of mixes things a bit too.
In short, don't take anything I'm saying as gospel, I'm no better at forecasting future movement than you or anyone else, it's just that I prefer to focus on the charts that look the cleanest and generally forget about the ones I'm not so keen on. For me right now, the ones that interest me are EURCAD and EURAUD. That might change in the coming days or weeks, but that's my read of the market right now, for what it's worth!
Good luck!
I'm not as excited about NZDUSD and AUDUSD, to be honest, I think they are giving off somewhat conflicted signals at the minute, but I suppose it depends on the length of your outlook. On NZDUSD, the bulls closed out last week very strongly, so I would like to see some weakness before I became interested again to the downside. AUD/USD actually looks quite bullish now too, so that sort of mixes things a bit too.
In short, don't take anything I'm saying as gospel, I'm no better at forecasting future movement than you or anyone else, it's just that I prefer to focus on the charts that look the cleanest and generally forget about the ones I'm not so keen on. For me right now, the ones that interest me are EURCAD and EURAUD. That might change in the coming days or weeks, but that's my read of the market right now, for what it's worth!
Good luck!
EUR/AUD looking weak again - added another short on the break of the purple trendline. 1.4904
Not really getting the momentum on the second position...liquidity dries up, as always, as soon as London closes.
Hi Stuart, yes, out of everything on my screen at the moment, I'm liking the look of EURAUD and EURCAD. Of course, I could be wrong, but at the moment they are looking pretty nice to me.
I'm not as excited about NZDUSD and AUDUSD, to be honest, I think they are giving off somewhat conflicted signals at the minute, but I suppose it depends on the length of your outlook. On NZDUSD, the bulls closed out last week very strongly, so I would like to see some weakness before I became interested again to the downside. AUD/USD actually looks quite bullish now too, so that sort of mixes things a bit too.
In short, don't take anything I'm saying as gospel, I'm no better at forecasting future movement than you or anyone else, it's just that I prefer to focus on the charts that look the cleanest and generally forget about the ones I'm not so keen on. For me right now, the ones that interest me are EURCAD and EURAUD. That might change in the coming days or weeks, but that's my read of the market right now, for what it's worth!
Good luck!
Nigel - Your advice is always welcome. There will always be times where we have views that don't match up exactly, that's the great thing about sharing on a forum where people contribute their own thoughts. I have already made a couple of great trades as a result of your analysis. I hope that in the future, some readers may be able to learn from my posts too.
AUDUSD is a shorter term trade for me, I was using the daily as an anchor chart, I will be looking for a 1 to 5 reward on this trade and if I get that, I'm out with at least half the position.
NZDUSD It's definitely sending mixed messages, I will probably wait and see how the week closes before committing a trade.
Hope your trades continue to make progress.
Stuart
Absolutely Stuart, we all see different things when we look at different charts. I don't mind one tiny bit if anyone on here disagrees with the pairs I'm trading or whatever. If we all agreed, there wouldn't be a market.
What's important are the principles of good, sound trading - risk management and so on. Outside of that, we can all trade whatever pairs we want, long or short, it doesn't matter - there is no right or wrong.
Knocked out for - 6 pips.
So I have taken 4 trades - 1 with stop at B/E and 25 pip floating profit.
1 stopped out at B/E
2 losers total: - 35 pips.
My risk is fixed now at 35, my reward is floating 25, but with the potential to grow far, far bigger.
If I was offered that bet this morning would I have taken it? Absolutely, every single time.
So I have taken 4 trades - 1 with stop at B/E and 25 pip floating profit.
1 stopped out at B/E
2 losers total: - 35 pips.
My risk is fixed now at 35, my reward is floating 25, but with the potential to grow far, far bigger.
If I was offered that bet this morning would I have taken it? Absolutely, every single time.
Well this afternoon has been a bit of a rollercoaster.
I was stopped out of EURAUD overnight and didn't get an opportunity to get back in.
My EURCAD was stopped out at BE during Draghi conference but I immediately sold it again @ 1.4900 with a tight stop and Draghi started making noises about his concern over the exchange rate and it literally dropped like a stone in a matter of seconds. MY stop is now at BE again and we will see what happens. Please note that I cannot really call this a PAST trade as the entry was nothing to do with a trendline break retest (certainly none I have drawn on my charts anyway).
AUDUSD also seems to be doing quite well at the moment.
Time to sit tight and let these play out.
Stuart
I was stopped out of EURAUD overnight and didn't get an opportunity to get back in.
My EURCAD was stopped out at BE during Draghi conference but I immediately sold it again @ 1.4900 with a tight stop and Draghi started making noises about his concern over the exchange rate and it literally dropped like a stone in a matter of seconds. MY stop is now at BE again and we will see what happens. Please note that I cannot really call this a PAST trade as the entry was nothing to do with a trendline break retest (certainly none I have drawn on my charts anyway).
AUDUSD also seems to be doing quite well at the moment.
Time to sit tight and let these play out.
Stuart
correction on my last post, my second entry on EURCAD was 1.521 not 1.49 as I said yesterday (think I was looking at the EURAUD when I was typing). Anyway the stop is at BE now and boy am I glad I took that trade again, what a move to the downside yesterday. Now I am just waiting to see if we get some continuation but the daily chart is looking good:
Stuart
Stuart
I also closed my AUDUSD long yesterday for about 4 x my initial risk. I closed out because of the huge move in the EURUSD. I felt this may add to buying strength in the USD over the coming days and this was always a shorter term trade. I have always had in the back of my mind the big monthly Pin Bar which was indicating a move to the downside.
With this in mind, I took the NZDUSD short yesterday on a near retest of a broken trendline. this was based on the Daily engulfing on Wednesday. The pair didn't move much yesterday and so I have not yet moved to BE, here is the hourly chart showing where I entered:
Happy trading
Stuart
With this in mind, I took the NZDUSD short yesterday on a near retest of a broken trendline. this was based on the Daily engulfing on Wednesday. The pair didn't move much yesterday and so I have not yet moved to BE, here is the hourly chart showing where I entered:
Happy trading
Stuart
Here is what I will be watching next week:
Open Trades:
Short EURAUD
Short EURCAD
Short NZDUSD
I am also keeping an eye on the GBPUSD following a weekly Pin Bar, here is the weekly and H4 charts for reference:
Weekly:
4 Hourly:
HAppy trading everyone
Stuart
Open Trades:
Short EURAUD
Short EURCAD
Short NZDUSD
I am also keeping an eye on the GBPUSD following a weekly Pin Bar, here is the weekly and H4 charts for reference:
Weekly:
4 Hourly:
HAppy trading everyone
Stuart
I thought it was also worthwhile to post this chat of the USDOLLAR index. The weekly Pin Bar off support indicates we may see some more USD Strength in the coming weeks which supports my GBPUSD, NZDUSD and AUDUSD short ideas.
Stuart
Stuart
Hello everyone, hope you are all having a good week. Time for a wee update on my trades.
Still short EURAUD, EURCAD and was stopped out at BE on my NZDUSD short today.
I have taken 2 trades this week, both on GBPUSD, the first was stopped out for a loss and the 2nd is now in profit and a my stop is at BE, here is a chart showing my entries:
Happy trading
Stuart
Still short EURAUD, EURCAD and was stopped out at BE on my NZDUSD short today.
I have taken 2 trades this week, both on GBPUSD, the first was stopped out for a loss and the 2nd is now in profit and a my stop is at BE, here is a chart showing my entries:
Happy trading
Stuart
Hi All,
I'm back this week and it seems just in time!
I took three trades today. Two shorts on the NZD/USD and one short on the GBP/USD.
One trade got stopped out for a loss on the NZD but the other two seem to be shifting to the downside.
NZD/USD = 0.8665
GBP/USD = 1.6870
There's news tonight on the NZD. Fingers crossed is bad!!
Good luck all
I'm back this week and it seems just in time!
I took three trades today. Two shorts on the NZD/USD and one short on the GBP/USD.
One trade got stopped out for a loss on the NZD but the other two seem to be shifting to the downside.
NZD/USD = 0.8665
GBP/USD = 1.6870
There's news tonight on the NZD. Fingers crossed is bad!!
Good luck all
Hi All,
I'm back this week and it seems just in time!
I took three trades today. Two shorts on the NZD/USD and one short on the GBP/USD.
One trade got stopped out for a loss on the NZD but the other two seem to be shifting to the downside.
NZD/USD = 0.8665
GBP/USD = 1.6870
There's news tonight on the NZD. Fingers crossed is bad!!
Good luck all
Good to have you back Russian30. How did you get on with your GBPUSD trade did it survive?
Stuart
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