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New Cable Thread & Other Pairs

  • #7,321
  • Jul 16, 2024 5:55am Jul 16, 2024 5:55am
Gold
Price able to form smaller AB-CD 1.618 before sell off.
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  • #7,322
  • Jul 16, 2024 5:57am Jul 16, 2024 5:57am
Buying this low for Gold, this report solely cannot turn around DXY fortunes, hopefully NY thinks the same
  • #7,323
  • Jul 16, 2024 5:59am Jul 16, 2024 5:59am
Quoting axecap
{quote} I have 1.08531 as ADR for today
Target fot H1 H&S is 1.0840, but I need 1.0822.
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  • #7,324
  • Jul 16, 2024 6:01am Jul 16, 2024 6:01am
Quoting minhtri
{quote} {image} {image}
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  • #7,325
  • Jul 16, 2024 6:02am Jul 16, 2024 6:02am
Now I watch to see if the bottom of the wedge gets taken out and tested from the other side. The test point should be the ideal level to sell for the big drop.
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Observation is the path to discovery.
  • #7,326
  • Jul 16, 2024 6:03am Jul 16, 2024 6:03am
Quoting birdland
{quote} everybody wants to short, but it seems we are in a new bullmarket and its generally then better to go long and shorting can be dangerous.
Sometimes it can be simple, the market is in an uptrend, and at the end, the expectation that the dollar will rise after the red news and the direction will change, there is no reason to sell when the bulls still rule before the news, but buy before and try to sell after, better to go with the flow,
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,327
  • Jul 16, 2024 6:07am Jul 16, 2024 6:07am
Quoting pedro319
{quote} Target fot H1 H&S is 1.0840, but I need 1.0822.
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We watch the charts from every angle so you don't have to!!
  • #7,328
  • Jul 16, 2024 6:09am Jul 16, 2024 6:09am
'Trump effect" in play ladies and gents.
  • #7,329
  • Jul 16, 2024 6:10am Jul 16, 2024 6:10am
Quoting d1zzy
'Trump effect" in play ladies and gents.
Exactly... and a lot more to come during the next few months...
Observation is the path to discovery.
  • #7,330
  • Jul 16, 2024 6:12am Jul 16, 2024 6:12am
Quoting d1zzy
'Trump effect" in play ladies and gents.
USD down or up then? lol Personally i think economy will get better but does that mean USD goes down?
  • #7,331
  • Jul 16, 2024 6:15am Jul 16, 2024 6:15am
Quoting SmallGains
{quote} USD down or up then? lol
Safe haven appeal is depleting from the $ with growing chances of rate cuts, but NY financial markets clearly seem to favor Trump. Last weekend just kinda solidified his return I guess, NY is excited and it shows.
  • #7,332
  • Jul 16, 2024 6:18am Jul 16, 2024 6:18am
Quoting SmallGains
{quote} USD down or up then? lol Personally i think economy will get better but does that mean USD goes down?
It should be a repeat of what happened in 2016. The dollar stronger and the Euro weaker. Gold weaker. This should play out till the election. Remember also that Trump will hit China with a 10% tariff. That will also increase inflation in the short term. The Fed knows that and it is one of the reasons why they will not cut yet.
Observation is the path to discovery.
  • #7,333
  • Jul 16, 2024 6:20am Jul 16, 2024 6:20am
Experienced traders: Quick question for you. When a prices reaches the fib level or a support or resistance level. What to look for to determine a bounce? A candle stick pattern? A candle stick. How do we know ok prices have reached is capacity and will bounce. Appreciate it
  • #7,334
  • Jul 16, 2024 6:20am Jul 16, 2024 6:20am
Quoting Alorente
{quote} It should be a repeat of what happened in 2016. The dollar stronger and the Euro weaker. Gold weaker. This should play out till the election. Remember also that Trump will hit China with a 10% tariff. That will also increase inflation in the short term. The Fed knows that and it is one of the reasons why they will not cut yet.
Yea in 16 it was crazy strong....401ks were top $.
  • #7,335
  • Jul 16, 2024 6:21am Jul 16, 2024 6:21am
Looking for a buy opportunity around 1.2900/1.2930 with tp around 1.3150
I hope someone also has similar analysis too
  • #7,336
  • Jul 16, 2024 6:21am Jul 16, 2024 6:21am
Quoting Alorente
{quote} It should be a repeat of what happened in 2016. The dollar stronger and the Euro weaker. Gold weaker. This should play out till the election. Remember also that Trump will hit China with a 10% tariff. That will also increase inflation in the short term. The Fed knows that and it is one of the reasons why they will not cut yet.
Interesting take, you don't think a cut is coming before the elections?
  • #7,337
  • Jul 16, 2024 6:21am Jul 16, 2024 6:21am
Quoting axecap
{quote} I have 1.08531 as ADR for today
1.0850 has it's merits!
We watch the charts from every angle so you don't have to!!
  • #7,338
  • Jul 16, 2024 6:23am Jul 16, 2024 6:23am
Quoting d1zzy
{quote} Interesting take, you don't think a cut is coming before the elections?
I donīt think they will cut till the end of the year and after they see what happens after the election, but you never know. The Fed is usually behing the curve so who knows.
Observation is the path to discovery.
  • #7,339
  • Jul 16, 2024 6:24am Jul 16, 2024 6:24am
Quoting vinesh1
Experienced traders: Quick question for you. When a prices reaches the fib level or a support or resistance level. What to look for to determine a bounce? A candle stick pattern? A candle stick. How do we know ok prices have reached is capacity and will bounce. Appreciate it
Im trading gold, so I will look for a bullish engulfer over the previous bear candle and enter when price tests the zone of the bear candle or enter the very next 15m candle straight away if market bias is bullish (in this case it is), preferably on the 15M but my friends take trades off 5M engulfers too.

Right now I bought this low before NY open, SL is at BE now off pure fundamentals and safe haven appeal for gold after recent happenings.

Edit - You also gotta find reactive zones on fib for the pairs you trade, in my case 61.8, 50, 38.2 and 161.8 price always reacts.
  • #7,340
  • Jul 16, 2024 6:24am Jul 16, 2024 6:24am
Quoting vinesh1
Experienced traders: Quick question for you. When a prices reaches the fib level or a support or resistance level. What to look for to determine a bounce? A candle stick pattern? A candle stick. How do we know ok prices have reached is capacity and will bounce. Appreciate it
Anything you can get your hands on:
1- The higher tf context.
2- Macd reading and/or divergence
3- Rejection candles and candlestick patterns
4- Reversal patterns (Bfly, H&S etc...)
Number one is the most important.
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