DAX VS GOLD
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Auction Market Theory and Market Profile
- #13,182
- Jun 12, 2020 5:24pm Jun 12, 2020 5:24pm
- | Joined Nov 2019 | Status: Trader | 1,170 Posts
Hi Everyone I am new in forex and also this thread, I would like to ask are these blue rectangles valid for pockets? I shorted EuroCad in (1) TP sets in (2) Please let me know your comments. I think I should put TP on (3) ?! because of POC? Thank you. {image}
Uncertainty of the market must be embraced and accepted.
- #13,183
- Jun 12, 2020 6:02pm Jun 12, 2020 6:02pm
- Joined May 2018 | Status: Tadpole | 2,719 Posts
Stay green!!!
- #13,185
- Jun 15, 2020 3:03am Jun 15, 2020 3:03am
- | Joined Nov 2019 | Status: Trader | 1,170 Posts
Uncertainty of the market must be embraced and accepted.
- #13,187
- Jun 15, 2020 4:20am Jun 15, 2020 4:20am
- Joined May 2018 | Status: Tadpole | 2,719 Posts
Stay green!!!
- #13,188
- Jun 15, 2020 2:15pm Jun 15, 2020 2:15pm
Hi everyone,
hope you had a good weekend.
1- I did Long for CADJPY as you can see in picture. I did it because I saw the single letter s is going more than three single letters (as selling tail). is it a valid buy signal?
2- I did put my TP on top value area, although I closed it manually in small positive pips.
thank you for your comment.
hope you had a good weekend.
1- I did Long for CADJPY as you can see in picture. I did it because I saw the single letter s is going more than three single letters (as selling tail). is it a valid buy signal?
2- I did put my TP on top value area, although I closed it manually in small positive pips.
thank you for your comment.
Hi everyone, hope you had a good weekend. 1- I did Long for CADJPY as you can see in picture. I did it because I saw the single letter s is going more than three single letters (as selling tail). is it a valid buy signal? 2- I did put my TP on top value area, although I closed it manually in small positive pips. thank you for your comment. {image}
I cannot comment on your entry, Kette will be able to answer it better as he is a very good MP trader.
All I can say is that I always go Long on CJ when price reaches the 38, 61 or 78 support lines on the weekly pivot lines. The reason can maybe be seen better when looking at the weekly chart that I attach. Price is not much higher than where it lowest levels have been since May 2016.
Yes, things like Covid-19 pushes people to go for the safe-havens such as Yen. That is part of the reason why the CJ price took a drop to where it is. Also fundamentals that pushed down oil prices was not good for the CAD. But as economies start up again after the Covid 19 lockdowns and the oil price start recovering, CJ should go up again. At least, that is what I think
