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  • #9,301
  • Feb 26, 2009 10:19pm Feb 26, 2009 10:19pm
Hello everyone

I am new to forex. What does the triangle on this 4h chart of eur/usd mean?

Any interpretations or insights on this chart?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4.gif Size: 30 KB
  • #9,302
  • Feb 26, 2009 10:23pm Feb 26, 2009 10:23pm
Hi,

Trying to answer that is akin to asking why you never find yeti droppings in the woods.

There's no answer, all you can do is be prepared.

Oh and read the thread.
  • #9,303
  • Feb 26, 2009 10:33pm Feb 26, 2009 10:33pm
Quoting Siam
Hi,

Trying to answer that is akin to asking why you never find yeti droppings in the woods.

There's no answer, all you can do is be prepared.

Oh and read the thread.
Thanks... i will read this thread.
  • #9,304
  • Feb 27, 2009 12:41am Feb 27, 2009 12:41am
Quoting hemantaims
Hello everyone

I am new to forex. What does the triangle on this 4h chart of eur/usd mean?

Any interpretations or insights on this chart?

It's called a descending triangle. Good possibility of a nice move down, especially with overall downtrend.
  • #9,305
  • Feb 27, 2009 2:27am Feb 27, 2009 2:27am
Quoting libb
It's called a descending triangle. Good possibility of a nice move down, especially with overall downtrend.
Update: already moved 60 pips or so down.
  • #9,306
  • Feb 27, 2009 2:34am Feb 27, 2009 2:34am
Quoting libb
Update: already moved 60 pips or so down.

Hi Libb,

Do you reckon 12512 is a hold. it's heading them ways.
  • #9,307
  • Feb 27, 2009 3:12am Feb 27, 2009 3:12am
Alright I am long in the gbpusd....


Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 41 KB
  • #9,308
  • Feb 27, 2009 3:12am Feb 27, 2009 3:12am
anyone got in long at GU?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
  • #9,309
  • Feb 27, 2009 3:16am Feb 27, 2009 3:16am
Alright I have moved my stop to break even ....

Up 26 pips...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 41 KB
  • #9,310
  • Feb 27, 2009 3:18am Feb 27, 2009 3:18am
Quoting Knightz
anyone got in long at GU?
I'm long as well as at USD/JPY.
  • #9,311
  • Feb 27, 2009 3:22am Feb 27, 2009 3:22am
Quoting Knightz
anyone got in long at GU?
Nice long man I am in it as well...same level I longed at yesterday...I already moved stop to break even pluss 1 pip
  • #9,312
  • Feb 27, 2009 3:23am Feb 27, 2009 3:23am
Quoting Shermenator
Alright I have moved my stop to break even ....

Up 26 pips...

Attachment
sherm - nice to know we got in at ~same point.. mind sharing how are u gonna manage this trade... we're up some 40 pips already.. SL at BE.. wats ur TP at?
  • #9,313
  • Feb 27, 2009 3:26am Feb 27, 2009 3:26am
Alright just made 37 pips with heavy money and letting rest run....

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 40 KB
  • #9,314
  • Feb 27, 2009 3:28am Feb 27, 2009 3:28am
im also long in this trade.. anyone caught it also?

might wanna take a look at USDCAD as well ... short at 1.2610?

wat are ur comments guys...?

i hope the trades are wat u called nbt...
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 16 KB
  • #9,315
  • Feb 27, 2009 3:42am Feb 27, 2009 3:42am
Quoting Knightz
im also long in this trade.. anyone caught it also?

might wanna take a look at USDCAD as well ... short at 1.2610?

wat are ur comments guys...?

i hope the trades are wat u called nbt...
I did not like the reward is was offering me....so I stood aside on it....that a trade I would attempt to move stop to break even very fast and if it stops you it does not matter since as a trader its all about minimizing your risk....
  • #9,316
  • Feb 27, 2009 3:47am Feb 27, 2009 3:47am
Quoting Knightz
sherm - nice to know we got in at ~same point.. mind sharing how are u gonna manage this trade... we're up some 40 pips already.. SL at BE.. wats ur TP at?

Well I took profits with most of of my trade at 37 pips....and stop at break even already
  • #9,317
  • Feb 27, 2009 3:55am Feb 27, 2009 3:55am
Watch with standing in front of the yen to fast simply because its friday and you might see some big profit taking from rally up ...so I am standing a bitt aside from the yen at the moment...
  • #9,318
  • Feb 27, 2009 4:21am Feb 27, 2009 4:21am
Alright made my 37 pips ...closed the remainder piece....

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 40 KB
  • #9,319
  • Feb 27, 2009 4:22am Feb 27, 2009 4:22am
Quoting Shermenator
I preety much trade about 12 pairs that includes majors and the typical mst traded crosses
Hey Sherm...do you think I should add an oscillator? I am trying to learn to trade JUST LIKE YOU.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 70 KB
  • #9,320
  • Feb 27, 2009 4:30am Feb 27, 2009 4:30am
Quoting Matrixxdg
Hey Sherm...do you think I should add an oscillator? I am trying to learn to trade JUST LIKE YOU.
Nope I think you should add the ichimoku. It makes things a little clearer at times .Just make sure all your indicators line up and thats the wholy grail it beats my entries since its faster then limit orders
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