Idea Origination
- Thread starter btowntrader54
- Start date
Where do you get your forecasts or how is it developed such that you're able to have confidence in those predictions?
Again;
This means you have placed a trade to support this idea?
One quick note to all posters: Please explain your reasoning for your trade opportunity. Don't just post some nonsense, say the price is going from X to Y, and that's it. Add in some sort of explanation - it can even be written onto the chart.
That being said, here's another EURAUD short.
Price hit very strong resistance from a horizontal scalp line and the 25x5 DMA at ~1.9920. The price has hit and declined three times in four days and eight times in the previous four months. Next level of support is 1.9515.
Stop around 1.9930.
That being said, here's another EURAUD short.
Price hit very strong resistance from a horizontal scalp line and the 25x5 DMA at ~1.9920. The price has hit and declined three times in four days and eight times in the previous four months. Next level of support is 1.9515.
Stop around 1.9930.
hey strader..I noticed you used DMA double moving average a lot...what is this and why do you use it?what signals you look for using it?thanks...
Displaced Moving Average
25x5 - 25 period MA pushed forward 5 periods
Reduces whipsaws and provides strong confirmation of trend continuances/reversals
Eur/AUD has too much support. Tried a short last night, bailed after a strong bounce off s/r, +24. Lucky.
Quote from davidmaria1:
Eur/AUD has too much support. Tried a short last night, bailed after a strong bounce off s/r, +24. Lucky.
As long as the close is below the two lines of resistance (DMA and scalp line) we should be good to go.