I think there is problem to opening the GOLD thread and I posted my last week weekly chart pointing out that 1525-26 is a decent supp as well.. I'm just gonna repost it here as well...
GL...
EDIT:: Also I'm watching this 30 mins and 1541 failure is to set back the shorts for me..
the 23.6% retracement of the multi-year rally from 1999 is also at 1526.84
where do you get your 2742 resis if i read that right?
Same org 8 hrs chart.. the black TL's I have been posting the last week or so and even twice today earlier..
USD and 4 hrs showing a possible 4 hrs harami candle.. so one needs to be careful here..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
not sure what a BB20 is but i'm also selling at 12768 - but just looked a bit stuck at resistance and didn't want to miss the boat. what ever works for each individual i supose
good analysis is easy
making money from your analysis is a whole new ball game
FXCM Speculative Sentiment Index (SSI) Statistics for 5/17
FXCM Speculative Sentiment Index (SSI) Statistics:
SSI: GBPUSD Ratio Widens Despite Dovish BoE Report
Hello Traders! Here is the SSI report for today!
Have a great trading day!
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not sure what a BB20 is but i'm also selling at 12768 - but just looked a bit stuck at resistance and didn't want to miss the boat. what ever works for each individual i supose
BB20 => Bollinger Band with a moving average parameter of 20 periods (and default parameter of 2 standard deviations)
The pound dropped like a rock after the Bank of England Inflation Report stated that inflation would hover around 2% for the next 2 years. Interest rate expectations are the chief drivers of Forex rates and the prospects of a rate hike from the Bank of England vaporized.
The pound dropped over 80 pips in 5-minutes from a high of 1.5972 to a London session low of 1.5888.
I went long 1000k at 1.5895, catching the proverbial falling knife, to grab 6.8 pips in 5 minutes. I jumped back in again at 1.5909 as price broke above the S2 Daily Pivot to grab 10 more pips. This trade took a little bit longer at 10 minutes for 10 pips. So I am doing about a pip a minute.
I quickly noticed a similar rebound in the AUD/USD when UK- Nimmy asked for my 5-minute Elliott wave count. When Nimmy asks me for a count, I know there is a trade on her/his mind.
I got long at 0.9905 and limited out 10 minutes later at 0.9915.
I did some scalping in gold but my one-click settings were too tight for the the wider spread on Gold and I was stopped out as soon as I placed a trade. After making the adjustments, I scored 107 so I had mixed results and ended up -2.1 pips
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
How anyone is long here is beyond me. This has played out perfectly in according to the 4 hour rising wedge. The only way in heck I would get long here is if that Daily Descending trendline that happens to also be the top of the BBand is broken and I catch it on a retouch. Otherwise Ill remain short. Also people please take a look at the EJ daily. A HnS might be in play. We will see once the neckline breaks... good day all!
great thanks. now you've said it i should have realised - don't use them though - got enough to think about - cheers
It's in my ----o tricks..... long live the BB20. I'm ready for a leg down to 2650, so who's going for the ride? Got stopped out I must confess with a trailing stop making breakfast for 19 in the green.
Last edited by buggypilot; 05-16-2012 at 09:26 AM.
Reason: Never could spell!
The pound dropped like a rock after the Bank of England Inflation Report stated that inflation would hover around 2% for the next 2 years. Interest rate expectations are the chief drivers of Forex rates and the prospects of a rate hike from the Bank of England vaporized.
The pound dropped over 80 pips in 5-minutes from a high of 1.5972 to a London session low of 1.5888.
I went long 1000k at 1.5895, catching the proverbial falling knife, to grab 6.8 pips in 5 minutes. I jumped back in again at 1.5909 as price broke above the S2 Daily Pivot to grab 10 more pips. This trade took a little bit longer at 10 minutes for 10 pips. So I am doing about a pip a minute.
I quickly noticed a similar rebound in the AUD/USD when UK- Nimmy asked for my 5-minute Elliott wave count. When Nimmy asks me for a count, I know there is a trade on her/his mind.
I got long at 0.9905 and limited out 10 minutes later at 0.9915.
I did some scalping in gold but my one-click settings were too tight for the the wider spread on Gold and I was stopped out as soon as I placed a trade. After making the adjustments, I scored 107 so I had mixed results and ended up -2.1 pips
he see's , he wait , he jumps, he conquer...
Superb drill................... you were not the only one riding this baby up and down................. makes 2 of us.... though im still short 5976 loner and added 5946.....
FOMC laterz and staying light is the slogan here.. also short GOLD 1540.6 and euro 2740 as well for now.. but I'm light no 1000k here...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
he see's , he wait , he jumps, he conquer...
Superb drill................... you were not the only one riding this baby up and down................. makes 2 of us.... though im still short 5976 loner and added 5946.....
FOMC laterz and staying light is the slogan here.. also short GOLD 1540.6 and euro 2740 as well for now.. but I'm light no 1000k here...
GL...
Nice hold over of cable with some added "whipped cream". FOMC minutes and Fed president Bullard are a couple of "land mines" that I will steer clear. Thanks for the reminder!
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
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Originally Posted by stryker
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