DislikedEurgbp.
Which one has a better chance to workout?
1h BEOB or 4h BUOB?
.Ignored
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DislikedFrom a techincal stand point I would say the 4H BUOB as it closed through the PPZ. I was looking for the retrace to hold. The H1 BEOB closed above the PPZ, so weak. But are we not bearish Euro?Ignored
DislikedI would only be looking for shorts on EG given the weekly BEOB. Whenever I see a big weekly/daily PA like this I'm looking at using a retest of former support as resistance as a reason to take a short trade and/or looking for lower TF PA to get into the higher TF PA at a discount.
Thus on this occasion price retraced back to the former support to test it as resistance and although it formed a 4HR BUOB this wouldn't be off interest to me as I would only be looking for short as per above and thus when price broke and closed below the RN + PPZ on...Ignored
DislikedI would only be looking for shorts on EG given the weekly BEOB. Whenever I see a big weekly/daily PA like this I'm looking at using a retest of former support as resistance as a reason to take a short trade and/or looking for lower TF PA to get into the higher TF PA at a discount.
Thus on this occasion price retraced back to the former support to test it as resistance and although it formed a 4HR BUOB this wouldn't be off interest to me as I would only be looking for short as per above and thus when price broke and closed below the RN + PPZ on...Ignored
DislikedI had my PPZ on E/G at 0.8793 formed from the daily highs/lows through the beginning of April. So the BEOB didn't break through it.
But I wouldn't have been looking so low for a short entry. I rarely look to play straight up W1/D1 PA anymore. I'm always looking for the retrace, and a deep retrace at that (50/61 fib). I suppose that's why I see Euro longs as valid trades, because its got to be bought to provide the retrace for a short. I think I need to address that thought process, particularly where big bars are pointing in the opposite direction....Ignored
DislikedTwo more examples including a trade I'm currently in on EU where we have weekly bearish PA and price retraces to test formed support as resistance before continuing down.
I have more confidence that these areas will hold as both the technical setups and fundamental setup towards the Euro are aligned. There is bearish weekly PA across the board on the Euro and the sentiment since the ECB conference last Thursday has been very bearish and what with the situation with Greece and the ongoing speculation and rumours since Friday everything points to...Ignored
DislikedCouple of hours left in the daily candle, but does this look like a possible long setup on the GBP/USD? Price closed above 50% fib, and PPZ. As well as Bullish RSI Divergence.
Opinions please.Ignored
DislikedI use fxpro for my daily candles so mine closed 30mins ago. Before I offer my opinion on this can you tell me, if you were to take this trade and lets asume it closes on your daily feed at the current price how would you manage the trade i.e. where are your trouble areas, where will you move to BE or take profit etc?Ignored
DislikedI use fxpro for my daily candles so mine closed 30mins ago. Before I offer my opinion on this can you tell me, if you were to take this trade and lets asume it closes on your daily feed at the current price how would you manage the trade i.e. where are your trouble areas, where will you move to BE or take profit etc?Ignored
DislikedThanks for the reply LJ. To me the first area of resistance is 1.6425, followed by 1.6486, 1.6544, and finally 1.6640. I would place my stop below RN 1.6300 (say 1.6290). If price went to the 38% retracement(1.6436) I would close half and move stop to BE.
I guess the risk/reward ratio is less than ideal.
Thanks again,
tyfyterIgnored
DislikedI took the following trades - bought Gold, bought AU, sold GU and EU all...Ignored
DislikedI took the following trades - bought Gold, bought AU, sold GU and EU all...Ignored
DislikedEurgbp.
Which one has a better chance to workout?
1h BEOB or 4h BUOB?
.Ignored
QuoteDislikedI don't think it's a place to be going long gold here, certainly not by the way I trade anyway. I'm long Gold from further down and the trouble areas coming up are marked on my chart. If we can clear these without stopping me out then I'll consider adding another position.
DislikedNasir and LJ thank you soo much!!!! I am glad I got attention from you guys.My first mistake in that post is that I said I sold GU & EU, I actually bought them (not to say I'm right at all). I am learning to work and that can only be by trying to and I am happy I am getting helped doing that. Your response posts are a bunch of GREAT lessons for me and I have copied and studying them. Please you will have to bear with me as I definitely will be posting here so that you can help more...I am not ashamed of being wrong at all, I am determined to get...Ignored