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Price Behaviour Trading - Gossip and Banters

  • #61
  • Mar 9, 2010 4:37am Mar 9, 2010 4:37am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
One trade which I took on it's breakout which I didn't mention yesterday.

Live trade I took and where with all the compelling reasons.

If you are short on pound you are never short on EG, remember that.


ta
ams
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  • #62
  • Mar 9, 2010 5:06am Mar 9, 2010 5:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
it doesn't get easier than this folks.....

money "belongs to you" and lying on the road
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  • #63
  • Mar 9, 2010 5:21am Mar 9, 2010 5:21am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Chart setup might help you making some decision...
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  • #64
  • Mar 9, 2010 5:23am Mar 9, 2010 5:23am
Haha you managed your EURGBP trade way better than me.
I like the level on USDJPY, I am not calling my short a scalp ...
  • #65
  • Mar 9, 2010 5:25am Mar 9, 2010 5:25am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
another one if you play or interested in...
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  • #66
  • Mar 9, 2010 5:30am Mar 9, 2010 5:30am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
tbh, this pair has sucked all the profit it gave me in one go last week. But I managed to book partial profits again yesterday as the downfall was a free gift to me.

Oh well, anything that's 50 odd pips I refer to it as a scalp.

Anything above 100 pips is a swing position to me. I still have to master the swing trader behaviour. I trying my best.
You are one diversfied trader Nic. I still have to try and play energy, metal etc..


ta
ams




Quoting elitejets
Haha you managed your EURGBP trade way better than me.
I like the level on USDJPY, I am not calling my short a scalp ...
  • #67
  • Mar 9, 2010 5:38am Mar 9, 2010 5:38am
Quoting ams
tbh, this pair has sucked all the profit it gave me in one go last week. But I managed to book partial profits again yesterday as the downfall was a free gift to me.

Oh well, anything that's 50 odd pips I refer to it as a scalp.

Anything above 100 pips is a swing position to me. I still have to master the swing trader behaviour. I trying my best.
You are one diversfied trader Nic. I still have to try and play energy, metal etc..


ta
ams
Haha crude and gold are my favourites. Just another way to trade the USD. Crude is like GBPJPY, a bit of a beast but much more respectful of round numbers. If you can trade JPY crosses you can trade crude no worries.
The best thing about commodities is they dont do much in the overnight hours, so you sleep better than you do with FX positions on. And every session almost always starts with a stop hunt (so not much diff to sterling at all really).
  • #68
  • Mar 9, 2010 5:49am Mar 9, 2010 5:49am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
thanks for the info....
I need these lessons from you with regards to gold and oil. They move a lot, specially gold. How many pips that thing moves daily, gosh.

I follow your blog to see your trades. Best R:R
Fortunate to have a fellow trader who trades sensibly.


ta
ams

Quoting elitejets
Haha crude and gold are my favourites. Just another way to trade the USD. Crude is like GBPJPY, a bit of a beast but much more respectful of round numbers. If you can trade JPY crosses you can trade crude no worries.
The best thing about commodities is they dont do much in the overnight hours, so you sleep better than you do with FX positions on. And every session almost always starts with a stop hunt (so not much diff to sterling at all really).
  • #69
  • Mar 9, 2010 5:55am Mar 9, 2010 5:55am
hi
i am short and it is doing well for the moment . will take what ever the market give me and close it at the first sign of reversal , because it is a counter trend trade .
samer
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  • #70
  • Mar 9, 2010 5:58am Mar 9, 2010 5:58am
Quoting samer960
hi
i am short and it is doing well for the moment . will take what ever the market give me and close it at the first sign of reversal , because it is a counter trend trade .
samer
Yeah thats a nice trade Samer, I almost did it too.
I am watching that trendline from the beginning of Feb low. If that goes then I'm not sure its so counter-trend.
Gold can be ugly but when it has momentum it really moves.
I often like silver better, it seems to be very very technically traded and there are no "silver bugs" whereas there are a lot of "gold bugs".
  • #71
  • Mar 9, 2010 6:05am Mar 9, 2010 6:05am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Nic, Samer

Please suggest if my chart is right or there is a possiblility of ammendment to it?


ta
ams
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  • #72
  • Mar 9, 2010 6:14am Mar 9, 2010 6:14am
hi
i agree with u about the difference between silver and gold . silver seem more technical . but both can turn ugly and very fast , so when i am trading these 2 i m always very stressed
samer

Quoting elitejets
Yeah thats a nice trade Samer, I almost did it too.
I am watching that trendline from the beginning of Feb low. If that goes then I'm not sure its so counter-trend.
Gold can be ugly but when it has momentum it really moves.
I often like silver better, it seems to be very very technically traded and there are no "silver bugs" whereas there are a lot of "gold bugs".
  • #73
  • Mar 9, 2010 6:21am Mar 9, 2010 6:21am
Quoting ams
Nic, Samer

Please suggest if my chart is right or there is a possiblility of ammendment to it?


ta
ams
It looks like mine and the trendline has gone, you are just going to have to manage it tightly because 80 is a big level.
Watch what happens in the next hour or so. If they are going to take it down in the US session then there will be a spike up to about 80.75, 81 tops and a succesful test of that trendline from underneath. If we keep going down and bounce on 80 I think it more likely we rally at the NY open and your short entry will come later.
  • #74
  • Mar 9, 2010 6:26am Mar 9, 2010 6:26am
hi
i would say if we get a retrace on this trendline i will close my short and think about going long (with the trend )the next bar if PA is there and at the break of this bar . i will be using H4 chart for this .
now we are sitting on the line . lets see .

samer

NB : hope nic wil comment , and for sure she will be the one right .
oh she did already while i was writing


Quoting ams
Nic, Samer

Please suggest if my chart is right or there is a possiblility of ammendment to it?


ta
ams
  • #75
  • Mar 9, 2010 6:31am Mar 9, 2010 6:31am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
thanks Nic!
I think it's worth the punt @ 8120-30ishhh.
Seems toppy.

The options I've with my broker (igmarkets) is US light crude Apr10, is that right or there is spot crude etc?

ta
ams



Quoting elitejets
It looks like mine and the trendline has gone, you are just going to have to manage it tightly because 80 is a big level.
Watch what happens in the next hour or so. If they are going to take it down in the US session then there will be a spike up to about 80.75, 81 tops and a succesful test of that trendline from underneath. If we keep going down and bounce on 80 I think it more likely we rally at the NY open and your short entry will come later.
  • #76
  • Mar 9, 2010 6:31am Mar 9, 2010 6:31am
Quoting ams
Nic, Samer

Please suggest if my chart is right or there is a possiblility of ammendment to it?


ta
ams
If 80 holds and it powers back up then thats right, its a good long entry.
It does depend on the indices which I always think is funny because I speak to so many indices traders who say the indices follow oil.
  • #77
  • Mar 9, 2010 6:36am Mar 9, 2010 6:36am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
changed my mind on short...

Put up 200 ema on the chart and what I see. Nic's not very far from the truth...



Quoting elitejets
If 80 holds and it powers back up then thats right, its a good long entry.
It does depend on the indices which I always think is funny because I speak to so many indices traders who say the indices follow oil.
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  • #78
  • Mar 9, 2010 6:36am Mar 9, 2010 6:36am
Quoting ams
thanks Nic!
I think it's worth the punt @ 8120-30ishhh.
Seems toppy.

The options I've with my broker (igmarkets) is US light crude Apr10, is that right or there is spot crude etc?

ta
ams
No there is no spot crude, unless you actually want some delivered

The Nymex pit hours are 09:00 to 14:30 NY time (14:00-19:30 london time), so starts half an hour before stocks but I guarantee you those pit traders are in an hour before that and getting things moving.
The US crude contracts are also traded on the European ICE exchange so its pretty liquid from when London opens.
I have a rule about not trading crude when the pits (ICE or Nymex) are closed and its kept me out of a trouble. I have learned that at the start of both sessions it always moves to let you in.
  • #79
  • Mar 9, 2010 6:38am Mar 9, 2010 6:38am
look like it is retracing now , lets see
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  • #80
  • Mar 9, 2010 6:38am Mar 9, 2010 6:38am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
that's what I thought when everyone going for the gold rush hard to see this thing going down soon. Buy on dips it seems.

ta
ams



Quoting samer960
hi
i would say if we get a retrace on this trendline i will close my short and think about going long (with the trend )the next bar if PA is there and at the break of this bar . i will be using H4 chart for this .
now we are sitting on the line . lets see .

samer

NB : hope nic wil comment , and for sure she will be the one right .
oh she did already while i was writing
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