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AUD/CHF (1 Viewer)

DJG

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What do you guys reckon? Looks like it attempted to close lower and break through the support but ended up at a key support level that has been touched now on the 3rd time. Reckon it could retract to the resistance level which has also been done twice over now.

Hopefully the chart attached correctly (first time)

I tried searching for a AUD/CHF thread but couldn't find anything. Sorry if this is doubling up on threads, if its more appropriate in another thread, please move it.
 

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What do you know Dangaff,

AUD/CHF certainly in a channel, I think the AUD certainly wants to bounce and find resistance. But Ive got a good felling that given the the flood results, The AUD may be down against CHF, while they find respect from the EUR. I think the AUD/CHF pair will continue to look for support or stay on its current channel. look forward for the recovery?
 

DJG

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I'll be watching it closely and waiting for a few bars in my favour before I enter, if all goes well I'll set my take profit at about the resistance and look to place a buy stop above the resistance for a re-entry if it breaks through.

Should be interesting.
 
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Interesting concept, I see things are starting to move in your favor. But will it hold?

audchf_fx04jan13_to_10mar13.png
 

DJG

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I'll be waking up in the morning and having a look at the daily bar, see how it ends up and if the 4 hour looks further attractive. Hopefully good signs and entrys
 

DJG

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Anyway, I made the entry (see attached picture). Also if you want, take a look at the rest of my open positions. Already taken a profit and cut even on the AUD/NZD position. As you can most likely tell, I'm very new to this and only trading with the micro lots.
AUD/CHF seems to be working alright so far, although it hasn't been my biggest player but I've only been in it since 1:30am. Profit's a profits :)

Just as I was writing this I got some extreme movement on all positions, majority of them are positive, could this be a result from the RBA announcement? It's only 2:31 but. Surely not!

EDIT: AUD/CHF flipped and now is in the negative so far. Interesting! Alot of them did

portfolio audchf entry.jpg
 
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I" you may of payed the way AUDCHF, although now certainly looks like interesting times for the pair. Certainly got some ground to recover.
EURGBP Has been a good to me over the the past week. Exited yesterday morning. Re entered this morning should be interesting.
As I'm sure thing will heat up later in the evening.

audchf.jpg eurgbp.jpg
 
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As I suspected AUDCHF has meet my resistance level and retraced. Now I expect to buy long on next candle continual.

audchf b.jpg
 
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Holly **** Boog!

looks like space age continual about the market all about! were all in a lot trouble better hit the traps. Golden wedgie suggest AUDCHF, is a bit under the weather & the markets going know where. Until say 10 12 0 dark hundred tonight. Ethan than don't expect anything. I Predict a Total FX Market Calapse until further notice.

Good Bye and Good Luck!?.................

audchf b.jpg
 

DJG

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Well done on the EURGBP position.
I ended up exiting out of the AUD/CHF position, I'll be looking to re-enter though once I clear my head and start looking at bigger picture - ie, 4HR chart minimum, mostly aiming for the 1D, even the 1W chart. At my level of skill and knowledge, I believe the 1HR and less just messes with my head and doesn't go for my ultimate goal and aim. It has broke below that support level a little bit, but barely... should be interesting to see what it does.
 
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A reminder that the charts aren't messing with your head. You're doing that to yourself. With so many options, possible setups and multiple time frames it's easy to get overwhelmed. Getting out of the market, clearing your head and restarting your top down analysis is the first step. Now you need to construct a trading framework so that you will clearly see the next trading opportunity.

What do you need to see to look for a short setup?
What do you need to see to look for a long setup?

Do you have a play book of setups that you know you can use profitably?
 

DJG

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A reminder that the charts aren't messing with your head. You're doing that to yourself. With so many options, possible setups and multiple time frames it's easy to get overwhelmed. Getting out of the market, clearing your head and restarting your top down analysis is the first step. Now you need to construct a trading framework so that you will clearly see the next trading opportunity.

What do you need to see to look for a short setup?
What do you need to see to look for a long setup?

Do you have a play book of setups that you know you can use profitably?

Extremely valid point mate, which is what I've done. Got out of it before I do any damage, as mentioned I should be taking the large picture of the whole thing, not the small minor times. I'll do a bit more reading up on it all and for sure re-enter. I now know though that I'm quite happy how I'm willing to cut my loses when they're small, something I thought I would of struggled with but It's probably my strongest point at the moment.

My updates will come along in this thread eventually I'm sure. Looking to re-enter the AUDCHF trade at some stage anyway, when I get a chance to sit down and have a good look at it and also write down everything.

Thanks :xyxthumbs
 
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Sorry if I've been meesing with your head. Its been a long week end for me and i have had better days. nether mind I'm I will capitalise on the problem and sort it self out. AUDCHF out of bounds to me. For now given recent data. I though AUDCHF was choice given the fact that all Australians are in market and good people. Any way not to be for now. Look forward to future results?
Neither mind plenty of fish in e the sea. GBP crisis I thought resolved but its a penny for a pound. EUR still looks like an except-able option for the dollar.

audchf.jpg
 

DJG

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Not a problem mate

it's really put me into a pickle. Daily it's just plodding along around the same area, just below the previous resistance.

I'll still keep watching it as I want to see what happens and learn from it.
 
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AUD/CHF Analysis

AUD/CHF was in a strong and consistent uptrend during the recent months that Buyers were successful in obtaining the highest price of 0.84784.Currently price in monthly, weekly and daily time frames is above 5-day moving average that shows a consistent ascending trend with the potential of more increment in long period of time. In 4H time frame as it is obvious in the picture below , there is Wolf wave pattern and warns the descending of price to the Target line .

According to the formed movements in chart of this currency pair, there is AB=CD (2 Patterns)harmonic pattern with none-ideal ratios of 61.8 and 127.2 between bottom price of 0.81149 and the top price of 0.84784 that by completion of the D point in this pattern, there is warning for ascending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 0.84092.

Stoch indicator is in saturation Buy area in H4 time frame and in divergence mode with the price chart that confirms the TOP price of 0.84784 warns about changing trend direction. Generally according to the current situation in 4H time frame until the top price of 0.84784 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.


Technical Analysis of AUD/CHF dated 2014.06.13
445272_ejkm_227827.jpg

 

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