All Hallows "AUDUSD and EURUSD" Eve

What-up $AUDUSD?

What is up with the $AUDUSD?
London markets opened, US just opened. $AUDUSD is just sitting there and resting on that EMA62 fence. Kinda like Humpty Dumpty before the great fall?

Where's $AUDUSD going today?

Hey you  $AUDUSD, where are you going? Can I follow you down?

 Hi, it's just after London open. Here's the picture.

1. Boss reading at 866
2. Since the morning Asian Session, it has traded up about 170 pips (more as we speak)
3. I've put in my trendlines - so it's a question of whether they will break?
4. And will stochastics stay overbought for the SELL down.

All eyes on the $AUDUSD...again

Bossilator on iPhone

I am still not trading today but I can be watching.

I just love the new Bossilator radar screen on my iPhone.

Look at that $AUDUSD 15M Bossilator. That's 1180 candles away from the SMA800. That is what I call a WOW! reading.

"I am always wandering around in enigmas" ...MC Escher"

 

Oh what a day! 

Have you ever had one of those days like the guy on the escalator? 

I sometimes wonder if maybe M.C. Escher was a forex trader before he found his specialization in mathematical art. How else could you explain how this statement, "I am always wandering around in enigmas" would fit so well in a a day of a forex trader.

Anatomy of a Murder Forex Trade

Do you remember this one? A great 1959 courtroom adult drama set in the Upper Peninsula of Michigan (yes, it is called that and yes, the Great Lakes are amazing).

Anatomy of a Murder was filmed in the quaint little port-side town/city of Marquette, which (would you believe) is the largest city in the Upper Peninsula. Population 21,300 - no, I am not kidding.

A few years back, my "extra special friend" (yes, he is..."the one") Richard introduced me to this extra remote part of the US. Having lived in cities all my life, it was a totally new experience for me. Every year, when we go back and visit, my mind comes back cleared because it is filled with this restorative calmness that you can only get when you really "get away from it all". I often wish I could order it "To Go".

"You have to be different?.... ...I'm not!"

Life of Brian (Monty Python, 1979)

Brian: You have to be different! 

The Crowd: Yes, we are all different! 

Small lonely voice: I'm not! 

Aaaarrgggh....Painful Emotional Trading

I really am in pain!

Today I am sitting out on a few trades. Actually I am putting myself on a strict regime of 1 trade per day. Yup, too much trading will make your trading account blow up!

Last week was a roller-coaster insane week for me.

C'mon Aussie, come on....$AUDUSD Setup

Come on Aussie, Come on!    Good Morning Asian Session Traders!

Man Carrying Beer to Cricket Match

Do you know that song? It's a great Australian Cricket song. I used to hear it every summer, all the time in my misspent youth...all the way Down Under in the Land of Oz!

All eyes on the $AUDUSD today

Good Morning World....


Yup, I missed a nice trade while I was asleep...it happens...and I am learning to tell my brain that ....it happens...


Note to Self: Missing on a trade just before you shut-down for the say doesn't mean that you have go crazy and force an impulse trade the next day. It might seem logical, but sometimes my brain doesn't work that way.  

Back to business and something I have never done before: I am waiting for 3 setups on 3 different timeframes - all going the in the same direction on the same currency pair $AUDUSD. G'day $AUDUSD!

Actually waiting for setups is something I have never done before - at least up until the mind-blowing Bossilator course.


Setup 1: 1M $AUDUSD - Trifecta - Trend - Buy

Bossilator is at 291 so it looks good for entry.

Looking to buy when $AUDUSD closes above Fib levels 23 ($AUDUSD @ 0.9550) and 33 (9531). The target is Fib 0 (9596). I might also wait for the EMAs to sort themselves out. I like it when they are in a nice order - at least when price is above EMA13 for a buy.

$AUDUSD 1M 5OCT11

As I write, $AUDUSD was testing the 9500 at Fib50, it didn't touch the SMA800, so I'm still good to wait for the setup. If it touches the SMA800, I'll take this off my watch-list.

Setup 2: 5M $AUDUSD - Stochastics - Counter-trend - Buy

Bossilator at 999 as I write - good enough for counter-trend.

Looking for a buy when the Stochastics get to 20 and above.

I'm just waiting to see a place where I can get a significant low that will provide a nice enough risk/reward. 2:1 according to the rules.

$AUDUSD 5M 5OCT11

Setup 3: 15M $AUDUSD - Stochastics - Counter-trend - Buy

This is my favourite because the Bossilator is so hugely extended (1700 and above now). This was also the trade I missed last night. It may or may not setup again because the trade is already in play. I am also aware that $AUDUSD may be twitchy so if I do get into this trade; I may just take out the planned 30pips or close to it since I may not be able to sit in the trade for that long (I have "ants in my pants" syndrome when I am more than 20pips in profit - I really am trying to work on this.)

$AUDUSD 15M 5OCT11

If you can't tell from the tone of my voice, I am taking it slow today since I did well yesterday. I am too cognizant of my ability to think I can rule the world after a couple of quick wins. I took another trade last night but had to make a quick exit to run some must-do errands - that added 9 pips to the pool for a total of 29 for yesterday. Not a bad way to start the week...even if I say so myself.


That's it for the morning. Sorry for the long post. I really need to have my morning cuppa Joe now....


Happy Trading!