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Euro vs Australian Dollar H4 Live Forex Chart

EURAUD,H4 Chart By Stocktastic

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Stocktastic
Stocktastic Nov 22, 2012 at 13:40
Possible shorting opportunity at 1.2500 ?
Stocktastic
Stocktastic Oct 18, 2012 at 14:00
JCrew7384 see my comments on Oct 16 which were responses to your previous question. cheers.
JCrew7384
JCrew7384 Oct 18, 2012 at 13:52
@Stocktastic Other than EMA100/200, what other indicators are you using to determine trades? Just news?
Stocktastic
Stocktastic Oct 16, 2012 at 23:55
16-10-2012 - Closed the trade, really on a panic about Euro news I was reading. Had previously moved stop to 1.2643, didnt want to give that much back so jumped ship. Of course my profit target was hit overnight so should have left well alone. On the upside this was a 2.8% winner, my largest in this account, but could have got more!
Stocktastic
Stocktastic Oct 16, 2012 at 23:53
Apologies for all the posts, my comments don't seem to post all the time from google chrome.
Stocktastic
Stocktastic Oct 16, 2012 at 11:17
In this particular trade it had many strong points. EURAUD has been in uptrend for quite a while. The 1.2500 level was the 1st retest of the 200 EMA on the DAILY timeframe which was the main driver for the trade. The 4 hr also matched on the 100 EMA, so this showed good correlation that level was a good one. Above all though, 1.2500 was the high in May and after break above it in mid-july the 1st retest of that level. So the level was significant regardless of any indicators that I may use to guide me.
Stocktastic
Stocktastic Oct 16, 2012 at 11:12
JCrew7384 I actually have a number of indicators on my charts. 100 EMA and 200 EMA are one set, I also take account of weekly pivots on a 4 hour. Added to this I use a trading platform called Trade Interceptor and use the trendrisk system as a guide as well. As you can see by my account details, I am still learning and this is my first trade where I am limiting myself to 4 hour timeframe for opportunities.
Stocktastic
Stocktastic Oct 16, 2012 at 11:10
2 hours left on this 4 hour candle, price trying to crack the 1.2680 area again. No reason to get out of this trade yet, stop still ok as it is. May consider moving up to underside of 4 hr range to protect more but still favours push higher.
Stocktastic
Stocktastic Oct 15, 2012 at 14:45
Becoming a tougher call this trade now. 1.2670 provided resistance again, to protect profit stop moved up to just below 1.2600 at 1.2597, locking in 77 pips or so profit. Moving stop as above resistance area has not been breached on 5 occasions in 5 out of 8 4 hr candles. 1.2613 was low today so breach of that and below 1.2600 is cause for concern which is now where protective stop is.
Stocktastic
Stocktastic Oct 15, 2012 at 09:47
So far didnt go as low as 1.2600, lowest was 1.2613. Stop should be moved to at least just below 1.2600 now 4 hr has shown support above.
Stocktastic
Stocktastic Oct 14, 2012 at 13:48
Stop is now at 1.5315 so 10 pips profit locked in. Could lock much more in but want to give this trade some real legs. Swap is -0.15 per day so quite high. Support in 4 hour is now 1.2550 and 1.2580. 1.2600 should offer strongest support for now and tempting to place buy orders again in this area?
Stocktastic
Stocktastic Oct 11, 2012 at 14:19
10:16 PM Move S for second lot up to 1.2493, see live trade comment for broker chart. Green still take profit.
Stocktastic
Stocktastic Oct 11, 2012 at 13:40
Had long 2 microlots from 1.2521. Took Profit at 1.2591, letting other one run