Pro7 PA trading analysis 28+GOLD | Page 248 | Forex Factory

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Pro7 PA trading analysis 28+GOLD

  • #4,941
  • May 5, 2021 8:10am May 5, 2021 8:10am
My plan for GU- wait at my area of engagement
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  • #4,942
  • May 5, 2021 5:00pm May 5, 2021 5:00pm
Quoting purdoy81
Selling GBPJPY sl 152.5 tp 151.50 {image}
Update on GJ
has to scalp my position since price still ranging.
Bias still Bearish.... sell zone might still be retested before a big sell off
New day new position.
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  • #4,943
  • May 5, 2021 9:59pm May 5, 2021 9:59pm
Quoting prozor7
USDCAD D1 sell H4 sell - losing sell momentum watching 1.22684 - 1.22482 for potential long PA @ 1.22826 fulfill monthly range pay attention if PA hit above targets and have pullback how they will play this with news to come @ 1.22771 - 1.22826 {image}
Hi Prozor7

Thank you for sharing your experience and knowledge with traders. I've read almost every post from page 1 of this thread, really valuable content for me as a newbie.

I have a question regarding S/R levels on the attached picture. Is that some kind of indicator that determines those Fibo levels or you do it manually?

I tried to find the answer in the thread but probably missed it

Thanks in advance
  • #4,944
  • May 5, 2021 11:45pm May 5, 2021 11:45pm
good morning to all
Forex can only be understood backwards, but it must be traded forwards.
  • #4,945
  • May 5, 2021 11:48pm May 5, 2021 11:48pm
Quoting Evcryto78
{quote}..... I have a question regarding S/R levels on the attached picture. Is that some kind of indicator that determines those Fibo levels or you do it manually? I tried to find the answer in the thread but probably missed it Thanks in advance
hi Evcryto78,

fibo lines I'm doing manual

explanations in post3 and in post1464
Forex can only be understood backwards, but it must be traded forwards.
  • #4,946
  • May 6, 2021 12:25am May 6, 2021 12:25am
Quoting prozor7
{quote} GBPCAD update TP 1.69992 - 1.69676 - 1.69142
GBPCAD
D1 sell - losing momentum - indicate buy

stepping aside
closing 3/4
SL @ entry 1.71000

pay attention to H1 1.70657 as resistance
Forex can only be understood backwards, but it must be traded forwards.
  • #4,947
  • May 6, 2021 12:30am May 6, 2021 12:30am
USDCAD
watching 1.22456 - 1.22249 for potential buy

or break H4 1.22713
Forex can only be understood backwards, but it must be traded forwards.
  • #4,948
  • May 6, 2021 1:43am May 6, 2021 1:43am
Quoting prozor7
GOLD watching D1 1773 above buy TP 1808 below sell TP 1738 this is my plan for GOLD
GOLD
D1 buy
H4 buy

breaking 1798.20 TP 1808 - 1820 - 1827 - 1839 - 1842

1827 should be hit by Friday
Attached Image (click to enlarge)
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Forex can only be understood backwards, but it must be traded forwards.
  • #4,949
  • May 6, 2021 2:19am May 6, 2021 2:19am
Quoting purdoy81
{quote} Update on GJ has to scalp my position since price still ranging. Bias still Bearish.... sell zone might still be retested before a big sell off New day new position. {image}
Closed position......waiting. news .......not good......
  • #4,950
  • May 6, 2021 2:23am May 6, 2021 2:23am
Quoting purdoy81
{quote} Closed position......waiting. news .......not good......

I did the same with GBPCAD

stepping aside GBP before news
Forex can only be understood backwards, but it must be traded forwards.
  • #4,951
  • May 6, 2021 2:23am May 6, 2021 2:23am
Quoting prozor7
{quote} GOLD D1 buy H4 buy breaking 1798.20 TP 1808 - 1820 - 1827 - 1839 - 1842 1827 should be hit by Friday {image}
Thanks, man for all the great work.
  • #4,952
  • May 6, 2021 2:39am May 6, 2021 2:39am
Quoting prozor7
{quote} I did the same with GBPCAD stepping aside GBP before news

Thanks Prozor......

very hard to decipher what they want to do...

Looking now on Ucad.....intend to buy ....

Actually... entered buy on ucad.

nice hammer on H1...might create double bottom....
Attached Image(s) (click to enlarge)
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  • #4,953
  • May 6, 2021 2:41am May 6, 2021 2:41am
Quoting darkangel13
{quote} Thanks, man for all the great work.

good luck with yours thread
Forex can only be understood backwards, but it must be traded forwards.
  • #4,954
  • May 6, 2021 2:49am May 6, 2021 2:49am
Quoting purdoy81
{quote} .... very hard to decipher what they want to do...
true.
this is probability game, trader must calculate for up and down.
in my calculations USDCAD should test 1.22249, for that PA have 75% chance

max down should be 1.22000 - closing D1 below 1.22249 PA have new game in play

I will wait for 1.22249 to enter buy or to break 1.22713 to enter buy
Forex can only be understood backwards, but it must be traded forwards.
  • #4,955
  • May 6, 2021 2:56am May 6, 2021 2:56am
Quoting prozor7
{quote} true. this is probability game, trader must calculate for up and down. in my calculations USDCAD should test 1.22249, for that PA have 75% chance max down should be 1.22000 - closing D1 below 1.22249 PA have new game in play I will wait for 1.22249 to enter buy or to break 1.22713 to enter buy
Good tip mate. Thanks....Im trading very small for protection..max SL 25 pips
  • #4,956
  • May 6, 2021 3:04am May 6, 2021 3:04am
Gold resistance is 1795, support is 1790. Break out if this range will determine direction up or down.
  • #4,957
  • May 6, 2021 3:38am May 6, 2021 3:38am
GOLD
pay attention to H1 & D1 support @ 1788 - 1789 - chart

if PA can't hold this position down to 1776 - 1769

if PA hold than up to this post
Forex can only be understood backwards, but it must be traded forwards.
  • #4,958
  • May 6, 2021 3:57am May 6, 2021 3:57am
Is there any correlation between gold and the dollar(dx)?
  • #4,959
  • May 6, 2021 4:02am May 6, 2021 4:02am
Quoting Glorybound
Is there any correlation between gold and the dollar(dx)?
yes in 68%, but I wouldn't use dxy as landmark for trade
Forex can only be understood backwards, but it must be traded forwards.
  • #4,960
  • Edited 4:18am May 6, 2021 4:04am | Edited 4:18am
Gold

Maybe reversal to 1770


We've been in a period of distribution/accumulation for 3 weeks now. Hopefully once the boys have soaked up enough of our money we'll see a nice breakout
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