Forex Tradingwithrayner

[Balian]

Where did you read aud is over value by 20%?

cant rmb the exact source. followed a number of sources...

bloomberg/reuters, aus news channel, economist/analyst reports


a few reports/analysis mentioned it during the bullish run of the AUD.

but i guess most short term investors simply wanted to believe in higher highs, just like what happened to gold

 

[tradingwithrayner]

Analyst are analyst for a reason, they analyze and don't trade. Who is to decide that a particular currency is over or under valued?

During the tech bubble when prices kept soaring despite prices being over valued, those who went naked short didn't live to see another day.

As the saying goes, the market can remain insolvent longer than you can remain solvent.

We as traders trade in the NOW. By the time the news reports are out, prices have already moved without us.

Also the AUD is not a safe haven currency but a commodity currency. The safe haven ones are the USD and JPY.

 

[tradingwithrayner]

Weekly analysis 14-07-13

 

[shawnwong]

If you trade based on chart, two books probably of your interest.

Encyclopedia Of Chart Patterns, 2nd Edition
Encyclopedia Candlestick Charts

The difference from other books, both books include statistic of performance of all those respective patterns. You will be surprise at the "accuracy" of candlesticks. Of all the candlestick patterns, only 9 is worth to be used as investment! 31% of the candlestick patterns just don't work ...

 

[guowei]

aud/usd... now dipping. good luck to all

 

[tradingwithrayner]

If you trade based on chart, two books probably of your interest.

Encyclopedia Of Chart Patterns, 2nd Edition
Encyclopedia Candlestick Charts

The difference from other books, both books include statistic of performance of all those respective patterns. You will be surprise at the "accuracy" of candlesticks. Of all the candlestick patterns, only 9 is worth to be used as investment! 31% of the candlestick patterns just don't work ...

thanks for sharing Shawn! I will be sure to check it out.

 

[shawnwong]

Another free book (I posted in another thread too)

http://wallabytrade.com/TheWallabyTrade.pdf

The Wallaby Trade: Counter-Trend Trading for Stocks, Futures, and Forex

Laying 3 stochastic oscillator of different time frame on top of one another. Don't have to be stochastic, you can use other momentum indicator like RSI ,etc

Season traders will know not to trade on it alone. Anyway, it is free so maybe good for a read since Rob is a pretty funny guy ...

 

[tradingwithrayner]

Weekly analysis 21-07-13

 

[tradingwithrayner]

Setup on EURUSD that was discussed in my weekly analysis

 

[DrSheldonCooper]

Hi Rayner. I would like to thank you for sharing so much information in this thread. I am a fresh grad and would like to try something off the beaten track.

Will be back after going through the babypips tutorials.

=)

 

[tradingwithrayner]

Hi Rayner. I would like to thank you for sharing so much information in this thread. I am a fresh grad and would like to try something off the beaten track.

Will be back after going through the babypips tutorials.

=)

Hi Sheldon!

I'm glad you find something useful.

I wish you all the best in your journey! Things will get tough but do not give up!

Cheers!

 

[tradingwithrayner]

Chart talk 31-07-13

This pair has a strong momentum towards the downside.

Thus i will be looking to sell if price retraces toward the 150.00 level.

Given the strong momentum towards the upside, i will not be surprise if this flag pattern breaks out higher.

 

[zane80]

Hi Rayner, may I know how long did you hold your longest trade and how short was your shortest trade? Trading newbie here.

 

[OnlyHuman]

Good to see another active FX thread.

EUR/USD so volatile today.

 

[tradingwithrayner]

Hi Rayner, may I know how long did you hold your longest trade and how short was your shortest trade? Trading newbie here.

It really depends on the timeframe i traded.

If it's a 5mins one, then naturally i expect to hold for a few hours to no more than couple days.

If i traded the higher timeframe like H4 and daily, i can expect to hold from few days to weeks.

So it really depends on the timeframe i'm trading from.

The charts that i was showing earlier were from the H1 and H4, so chances are these trades will last over a day, maybe 2.

Cheers!

 

[tradingwithrayner]

Good to see another active FX thread.

EUR/USD so volatile today.

This week will get pretty interesting. We have fomc later and NFP on friday.

Not such a bad week to be on sidelines if you ask me

 

[tradingwithrayner]

An update on the EURGBP setup which i posted few hours ago.

 

[OnlyHuman]

I am looking for Long on EUR/USD and Short for NZD/USD.

 

[tradingwithrayner]

I am looking for Long on EUR/USD and Short for NZD/USD.

Instead of shorting nzdusd, you could consider audusd. It's relatively weaker compared to nzd, thus more bang for your buck.

 

[OnlyHuman]

Instead of shorting nzdusd, you could consider audusd. It's relatively weaker compared to nzd, thus more bang for your buck.

Hi Rayner,

You are right AUD/USD is weaker than NZD/USD. But AUD/USD has approached new lows near major support. NZD/USD on the other hand is still within current range.