Aussie Dollar forming extended bull flag on 15.
Hasn't hit the .618 retrace yet, so nothing to really worry about.
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This is a complicated markup for a not so complicated play, but I had to go through a lot of junk systems to be able to confidently make simple calls, so I'm still marking things up to get any other perspectives they might offer.
A good starting place for building your trading philosophy is that understanding within trading there are like all these different sectors and psychologies of how to trade. The way a professional trader picks his battles is by uniting all of these psychologies through diagramming on the chart, then only trading where it is reasonably evident that a majority of the players will be stacked up against a smaller number of the opposition. A lot of times this is represented by formations and repeating patterns, so you don't have to go too crazy. A lot of work has been done for you.
I work much better when people just give me the answer, then I have to go back and figure out how they solved it. Sometimes I can even find a way to make their process more streamlined, and I ejoy doing that. So now I have given you the answer, can you streamline my process?
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This is a complicated markup for a not so complicated play, but I had to go through a lot of junk systems to be able to confidently make simple calls, so I'm still marking things up to get any other perspectives they might offer.
A good starting place for building your trading philosophy is that understanding within trading there are like all these different sectors and psychologies of how to trade. The way a professional trader picks his battles is by uniting all of these psychologies through diagramming on the chart, then only trading where it is reasonably evident that a majority of the players will be stacked up against a smaller number of the opposition. A lot of times this is represented by formations and repeating patterns, so you don't have to go too crazy. A lot of work has been done for you.
I work much better when people just give me the answer, then I have to go back and figure out how they solved it. Sometimes I can even find a way to make their process more streamlined, and I ejoy doing that. So now I have given you the answer, can you streamline my process?
Comment:
If you're not interested so much in how the baby gets made, just go ahead and enter a market order anywhere, use a low order size, and place your stop loss right around .7700000 which correlates with the low end of the market ranging structure, and look for at least a 1:1. Should be doable in an up trending market such as this.
Comment:
Profit target hit at .78100 and I didn't get filled.... what the frick....