AUDNZD trading

Second pending order was not hit.
Instead stop loss was.
1.17 level break failed and move is in the alligator now.

So it is better to stay out while market hesitates where to go.

AUDNZD - trading

Obviously the move will be into the alligator next few sessions, so it is better to stay away.

1.17 Level failed - perhaps it is too early for it...

Last up Balance line trade (in blue) was stopped and all orders have been closed.

AUDNZD - trading sample

This week along with great trading opportunities AUDNZD shows excellent sample of Chaos trading system.

First we had a nice trend - a constant up move without big volatility. The only thing trader had to do was placing order on each signal.

Orders for this series are marked in orange.

Numbers 1,3,5 are fractals; 2,4,7 are Balance line.

After the 7th order there was a down signal (3AO) and move reversed. Stop loss was moved some pips above 6th order and was hit during the retrace.

On the next up move there were 3 signals (marked in green) - 8,9 are Balance line and 10 is a fractal.

Trailling stops follow the move and on next retrace was hit. The same retrace formed Bearish Divergent Bar (marked in light blue).

Here volatility increased and was hard to decide the correct place of stop loss. I decided to keep it above next to Dbar bar and I was lucky to remain in the trade. In this Divergent bar trade there was another Balance line signal.

Still big volatility and stop loss was hit and Divergent bar was transformed into trend retrace offering an up Balance line signal.

Let's wait to see whether 1.17 lever will be broken up again...

Wisdom

Wisdom

I read a paper without a title nor an author or whatever notice where I've got it. It throws around for some time and today I've decided to read it finally.

And I found few sentences that each trader must hammer on the screen keeping one of the eyes on it all the time trading.

Here they are:

• The first, biggest and worst enemy of any trader is its own opinion about where the market is going.
• The next biggest enemy are opinions of friends/brokers about where the market is going.

Simple!

Yesterday setups

AUDCHF and EURAUD Divergent Bar Setups formed yesterday lost steam and turned into a range.
After two long bars moving forces lost interest and last two sessions are drifting around.

Nevertheless momentum and acceleraiton are still on the same side, trading against the trend is always dangerous.
Finally tighten stops were hit and trades - closed.

There is still possible the move to continue in DBars direction, but until price is into the Alligator's lines trader must keep his eyes well open ;)

AUDCHF Bullish Divergent Bar Setup

Like EURAUD, 4 hours chart of AUDCHF formed also a Divergent Bar setup - a Bullish one.

We have again something near to Double bottoms but here we have a clear divergence between price and Momentum.
Acceleration, compared to previous move, was weaker.

Divergent Bar break up was strong and fast and if 1.0250 level is taken we could expect testing the 1.0370 level next.

Anyway, keep stops tights for this move is against main trend and easily could be transformed in a retracement...

EURAUD - Bearish Divergent Bar setup

After the peak two days ago, EURAUD made another one on 4 hours chart forming a new Bearish Divergent Bar. This Dbar is supported by the Tween Peaks formation in Momentum and a nice acute angle.

Acceleration is also much less then during the previous rally

This is a good chance to go short with a nice profit horizon if there is no unexpected news around.