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  • #164,341
  • Nov 22, 2009 10:29pm Nov 22, 2009 10:29pm
I have 61-80 as stopping point. By the hourly chart it appears that there are large sellers in these areas( maybe some asian central banks) that do not want it to reach 1.50.
  • #164,342
  • Nov 22, 2009 10:30pm Nov 22, 2009 10:30pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting nazik
What your tp
115430
  • #164,343
  • Nov 22, 2009 10:35pm Nov 22, 2009 10:35pm
Quoting sinner-
Tried to explain this concept to The Fool last week, not sure if he got it:

From Dale Paterson of babypips


As you SURE that a certain AMOUNT is necessary to move a price bar and not just a certain PRICE???

Let me put it another way and maybe it'll explain why I'm wondering if the right QUESTION is being asked:

Take the Dow.

[b][color=orange]Now let's say that HYPOTHETICALLY speaking there were ONLY TWO TRADERS TRADING on a given day. Let's say that...
I'm not sure that it would take a lot of volume to keep the price there. I'm under the impression that if those same 2 traders continued to trade at prices above 9000 it would stay there with out any heavy volume.
All that is left in FF is just plain garbage. "Cloggie"
  • #164,344
  • Nov 22, 2009 10:38pm Nov 22, 2009 10:38pm
Quoting tonyo524
I'm not sure that it would take a lot of volume to keep the price there. I'm under the impression that if those same 2 traders continued to trade at prices above 9000 it would stay there with out any heavy volume.
The volume is relative is it not?

We can only assume that a certain bank or group of traders is putting the market through it's paces-

I wonder if certain candles are signals among groups?

Surely it couldn't be so- still.........let me consult my konspiracy manuel
  • #164,345
  • Nov 22, 2009 10:38pm Nov 22, 2009 10:38pm
Quoting G_Man
115430
you think its gone happen,if yes in what time frame your opinion.thnks
  • #164,346
  • Nov 22, 2009 10:39pm Nov 22, 2009 10:39pm
Quoting tonyo524
I'm not sure that it would take a lot of volume to keep the price there. I'm under the impression that if those same 2 traders continued to trade at prices above 9000 it would stay there with out any heavy volume.
Happy to agree. In forex it works a bit differently, rather than the "2 traders" example we would have to think in terms of what bid/offer the core interbank market is willing to provide. We can often see this occuring, a big company for example Toyota will want to hedge the fleet of trucks they just sold to the British Navy (or something) and a big order might go through forcing the price way up but interbank will just sell into this because they understand it is not a fundamental supply/demand value.
  • #164,347
  • Edited 11:20pm Nov 22, 2009 10:39pm | Edited 11:20pm
Im shorting at 1.4950. I think London will turn this baby around
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  • #164,348
  • Nov 22, 2009 10:43pm Nov 22, 2009 10:43pm
I have highlighted an example from G/U daily candles to make the point above more clear.

Market wire at the time was declaring G/U spike up based on a British oil company needing to pay dividends to their British stockholders.

This involves selling some of their profits (held in USD since that is what oil is traded in) and using them to buy GBP to pay their stockholders.

What results is an extremely large market long (obviously coupled with momentum from technical levels etc).

But the level can only last if supply/demand dictates it, or in this case, specifically if the interbank market dictates it:
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  • #164,349
  • Nov 22, 2009 10:44pm Nov 22, 2009 10:44pm
Quoting amgblack
usually i will short at resistance, but this move seems pretty fast and recently have been quite volatile. Got caught before when I knew the trend was going up and trying to short for a few pips, was not worth the risk.

But glad u got your pips

im trap on this run too,, for now... market swing around you lets just wait and see but ill keep adding upstairs if so
  • #164,350
  • Nov 22, 2009 10:44pm Nov 22, 2009 10:44pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting nazik
you think its gone happen,if yes in what time frame your opinion.thnks
within next 16 hours ...
  • #164,351
  • Nov 22, 2009 10:47pm Nov 22, 2009 10:47pm
Quoting G_Man
within next 16 hours ...
what make you think so? if you check last three week its the same, long to new level and then playing in range ,but really no retracement.thnks
  • #164,352
  • Nov 22, 2009 10:48pm Nov 22, 2009 10:48pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting M.A.C.Doug
Im shorting at 1.50. I think London will turn this baby around
not sure about 1.50 ... possibly 4970 - 4990 good for short with SL at 1.5010 ...

if it breaks 4990 it should easily break 1.50 ...
  • #164,353
  • Nov 22, 2009 11:04pm Nov 22, 2009 11:04pm
Now can begin a little retracement (below 4938)
The best thing that can happen to you is to find out where you're wrong.
  • #164,354
  • Nov 22, 2009 11:07pm Nov 22, 2009 11:07pm
Quoting GastonCorzo
im trap on this run too,, for now... market swing around you lets just wait and see but ill keep adding upstairs if so
no I didn't short the market, have been long EU EJ since last fri, just adding when it dips and closing some when it reached my TP
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #164,355
  • Nov 22, 2009 11:08pm Nov 22, 2009 11:08pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting nazik
what make you think so? if you check last three week its the same, long to new level and then playing in range ,but really no retracement.thnks
my friend, there is always a retracement ... even a small one was for 800 pips ...
  • #164,356
  • Nov 22, 2009 11:16pm Nov 22, 2009 11:16pm
Quoting G_Man
my friend, there is always a retracement ... even a small one was for 800 pips ...
I understand this but i think gold dont care about it, im short ,have 3 orders 1140.30,1150.00,1163.10 but i have big waries about going south,so this is why im asking you what make you think so.Im sorry i know its eur/usd thread but there is no gold threat and i see over here a lot of professional traders so im just starting trade and i respect any opinion or help.Thnks
  • #164,357
  • Edited 11:40pm Nov 22, 2009 11:22pm | Edited 11:40pm
Quoting G_Man
not sure about 1.50 ... possibly 4970 - 4990 good for short with SL at 1.5010 ...

if it breaks 4990 it should easily break 1.50 ...
I meant 1.4950, as it is, its leaving without me
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  • #164,358
  • Nov 22, 2009 11:32pm Nov 22, 2009 11:32pm
We are creating the new reference (support) , in the next 30min
The best thing that can happen to you is to find out where you're wrong.
  • #164,359
  • Nov 22, 2009 11:32pm Nov 22, 2009 11:32pm
Quoting GastonCorzo
im trap on this run too,, for now... market swing around you lets just wait and see but ill keep adding upstairs if so
I will only go short if it pass down 1.4916
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #164,360
  • Nov 22, 2009 11:34pm Nov 22, 2009 11:34pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting nazik
I understand this but i think gold dont care about it, im short ,have 3 orders 1140.30,1150.00,1163.10 but i have big waries about going south,so this is why im asking you what make you think so.Im sorry i know its eur/usd thread but there is no gold threat and i see over here a lot of professional traders so im just starting trade and i respect any opinion or help.Thnks
hey nazik, it may go just below 175 before the retarcement ... as long as you know and you are prepared for it, you should be fine ...

dont worry i am sweating a little too ... i am holding 10 lots ... but patience is what we need ...

and you are more than welcome to discuss gold in this thread without feeling sorry ... we are all democratic here ...
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