I saw that Gold chart before the NFP, nasir. Wow.. . . BE! . .
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james16 Chart Thread
- #65,722
- Jun 8, 2010 2:03am Jun 8, 2010 2:03am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Ok, this is the part I think it's key: setup was there, we pulled the trigger. Now, trade management. Hopefully the senior members will help here.
As you can see in the attached chart, price tried to go south but was supported around 4460, then came up precisely to my first salmon area and apparently was rejected from there. My point is: we have let price to show its face. I would have rather preferred a move down straight forward, but since it came up and it's making a new try to lows... what would you do here?
My opinion is to treat it aggressively,...
Looking good eli. There she goes.
Indicators show the past. Price Action "Indicates" the future.
- #65,723
- Jun 8, 2010 2:06am Jun 8, 2010 2:06am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #65,726
- Jun 8, 2010 2:22am Jun 8, 2010 2:22am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #65,727
- Jun 8, 2010 2:35am Jun 8, 2010 2:35am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.
Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.
Thanks everybody around.
Btw you picked up your FTA very well.
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- #65,728
- Jun 8, 2010 2:59am Jun 8, 2010 2:59am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
Anyone remember that.
Now lets see what we get here.
Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.
P.S: Anyone for Punjabi music.
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Now see how far this little CT could run.
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- #65,729
- Jun 8, 2010 3:11am Jun 8, 2010 3:11am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Thanks....
(KA-CHIIIING).
Target reached on the GBP/CHF short,
I decided to take full profit (0.3R) at the 1.6600 as there have been some strong reactions to this level in the past.
Of course I hope it blasts through for anyone still in the trade
I decided to take full profit (0.3R) at the 1.6600 as there have been some strong reactions to this level in the past.
Of course I hope it blasts through for anyone still in the trade
- #65,735
- Jun 8, 2010 6:08am Jun 8, 2010 6:08am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Jonnyislost,
as has been said recently....
Jonnyisfound.
Keep it up, Sir
as has been said recently....
Jonnyisfound.
Keep it up, Sir
- #65,737
- Jun 8, 2010 6:19am Jun 8, 2010 6:19am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Jonny....
make that senior newbie
make that senior newbie
- #65,738
- Jun 8, 2010 6:20am Jun 8, 2010 6:20am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
nasir could you share the reason of your entry? Is it based on that TF coz I can't see PA.
Time Frames Does't have to do much in this case, it's about the "location".
It was a touch trade. It's an aggressive way to trade PPZ's with confluence (TL's, FIB's) i.e pulling the trigger as price hits the zone.
without waiting for PA.
Takes some time and practice but first you should master the basics.
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- #65,739
- Jun 8, 2010 6:46am Jun 8, 2010 6:46am
Hey Fxeturn,
Time Frames Does't have to do much in this case, it's about the "location".
It was a touch trade. It's an aggressive way to trade PPZ's with confluence (TL's, FIB's) i.e pulling the trigger as price hits the zone.
without waiting for PA.
Takes some time and practice but first you should master the basics.
.
I'll just stick with basics first. Here's a USD/JPY analysis:
BEOB on daily, consolidation on weekly, bearish on monthly. Confluence with 150 EMA.
A closer look at H4 reveals a DBHLC, then a BEOB with confluence on both EMAs and a Fib. White lines are target areas.
