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Trade Charts With Forexliving - Dec. 2010


Forexliving

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Hello everyone!

This is forexliving.

I am going to post daily charts as well as major fundamentals as well as technicals for trading forex and gold and silver.

I have been trading for 6 years.

Note: these charts and opinions are my own and they are not meant as signals .They are for educational purposes.

If you follow them it is on your own terms and gains and losses you incur are by no means my responsibility.

Hope you learn from charts and be profitable trader.

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AUD/USD MONTHLY

Can this scenario happen?

Its a very long term view.

AUD/USD monthly shows the channel formation.

And we are at the top of channel now?

So can this scenario come true?

Only time will tell but i am going to put a small position to see this .

Short at 1.00 or 0.9900 level

Target 0.75

SL 1.03

audsusdmonthlychannel.png

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Sorry to say this, but looks like your 100 pips stop loss has been touched on GbpUsd. I wouldn't normally take such great risk. Would you agree for small but consistent profits? GbpUsd is quite a moody pair for me. 100 pips up and 100 pips down in a day or so.

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  • 2 weeks later...

Another pair is going down but I am confuse why did AUD/USD in bullish condition? Anyone knew what is the reason of this condition? I read from analysis of some traders said that AUD/USD will down but it rose until now. What a confuse condition.

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@Andry

The market always makes the decision. No matter how many people says its bearish. Maybe those people thought that AU is moving along with EU which is bearish. EU and AU most of the time move along the same direction together. But still anything can go wrong.

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Another pair is going down but I am confuse why did AUD/USD in bullish condition? Anyone knew what is the reason of this condition? I read from analysis of some traders said that AUD/USD will down but it rose until now. What a confuse condition.

 

allow me to help you. why aud-usd went up while others went down and gold also went down? it is because oil price went up and already more than $90 per barrel. it just speculation of bad weather and opec strategy. there is many ways to look and understand forex, not only through chart. trade what we see and not what we expect or thought.

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@cnbc

So it can't be found in the chart, it means news which affected to the movement of AUD/USD. If we are not fundamentalist, it will make us confuse right? I don't too much know about some news in forex, so that made me confuse but thanks for your explanation friend.

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@cnbc

So it can't be found in the chart, it means news which affected to the movement of AUD/USD. If we are not fundamentalist, it will make us confuse right? I don't too much know about some news in forex, so that made me confuse but thanks for your explanation friend.

 

You can go to forex factory to see pending news release. Major news can really affect prize movements. I usullay check the forex calendar before I trade for the day.

I notice that 1hour to 30 minutes before a news is released a pair can move 3-60 pips. Then when the news (I'm referring to a major, high impact news) price movement may go up to 200 pips.

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