Momentum Trading- Majors

With the 252 CCI just crossed from positive, after being up there for so long, I still like it lower. Just a small green candle on the 5 min chart, think this may retrace slightly as crude has found abit of support of the weekly s3 pivot. SL at breakeven at 900.

With crude finding support, I am slightly conerned about gold but I will hold it with the SL at break even.

EURUSD has a nice support line on the 4 min chart. A break of 1.4350 would look weak for this pair, with the 1st target at the figure. The 252 CCI confirm we are in a down trend, would be nice if gold would continue its move south if this move is to materilise.

closed gold with + 10. Crude is not playing ball

eurusd order been kicked in at the 50 level

This has been closed at 1.4305. Just 45 pips on that one, but daily target is 50 so not too bad.

Nice one, hms, I had that one too. At times I still get confused by the Heiken Ashi candles. When you have time, would you please be kind enough to tell me how you read them? I know that the wicks are obviously the high and low; it's just that often I can't tell were price is with regards to the color of the candle. Thanks.

Hello sir, and well done on that trade. I closed it at my first target due to gold not moving at first. EUR did go another 50 points, but I´m happy with that. Well done for anyone holding this Just got back from lunch and can see that this would have been a great trade.

In relation to the heikn ashis, it´s advantage over normal candles is that it much smoother, and has far less spikes. I understand that it is difficult to see the current price, so you may find it useful to use this horizontal price line feature. You can do this by right clicking a MT4 chart, click properties, and the common tab. Then check the "Show ask line" . This will place a horizontal line when there current price.

hms http://www.forexfactory.com/images/s...ser_online.gif
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Member Since Aug 2007
Posts: 94


http://www.forexfactory.com/images/icons/icon1.gif silver update
Quote:
Originally Posted by hms http://www.forexfactory.com/images/buttons/viewpost.gif
Hi guys and girls,

With gold looking weak, think this silver could be a player.. have a look at the Silver daily chart. It's finding resistance of the daily 50 MA. the break of the lows at $13 is the level I'm looking at.

Hi, I mentioned this a few days back. It looks like it want to re test the 1hr 200 so may just hold this one.



For those of you following me on this one, have a look at the lovley breakout we have seen on silver.

Great! Thanks much for the reply.

Interesting system..i have seen another trader on trade2win using almost the same system, he is reaping profits just liek you..Good work
http://www.trade2win.com/boards/trad...bout-pips.html

good morning everyone...
Crude has broken above the daily pivot and we can see the cross of the 1hr 20ma & 1hr 50. An upside target of 102.75 if it can hold the 5 min 20.
Gold is boxed in between the daily and weekly pivot. A downside break of 878 and a 123 move would signal a continuation move from yesterday.
EURUSD is setup bellow all our hourly moving averages and looks like it wants to move south.
GBPUSD is setup similar to EURUSD in that it is bellow our hourly 20 & 50 ma. A break of 1.7800 with a 1st target of 1.7755

GBPUSD- the support is as the 80 level for anyone looking to bplay the break.

gold looking the most attractive at the moment.. broken pivot

needs to find some resistance here (daily piovt point), could be another entry point

some good news, the live chat is up and running... if you would like to join in just pop me a Pm or email at [email protected]

here gold goes... lower high

if gold does continue it´s downwards decent then silver could be a plyer too on the break of the 15 min 20Ma. The 252 cci has been down for a while so something to be aware of.

crude looking like it wants to pullback.. will help our gold position

98 is the level I am looking at on crude