Gold Expedition Return This Year:
-16.4%
- #5,522
- Edited 8:22pm Jan 30, 2011 8:12pm | Edited 8:22pm
- | Joined Jan 2011 | Status: Student, teacher, trader | 89 Posts
hi.i think we may see a retracement at 113.05 before another drop as long 111.584 hold.n i expect a drop will limited at 109.56 support because near fib ret 61.8 area.combination support n fib could hold this area.After that we may see your target at 117 area.2 cents
I am new here, so my post may not hit the thread in time. But, this feels like a 1, 2, 3 top forming on 4hr chart. So, I agree with budak. I am going to buy on shorter TF (15m-1hr) around 111.25 (38.2%) retracement level of overall up move and 127% retracement of last upswing , before I short around 113(68%) retracement of last downswing from 114 high on my 4 hr TF. Obviously, these levels aren't absolute. I won't take any trades until price action confirms.
Any info on how to improve my posts will be greatly appreciated. I didn't feel the need to post any charts because I am just agreeing with budak and his charts.
So, I am gonna day trade this and buy at 111.25 area and hold it until it hits the pivot point at 112.65. Also weekly pivot is 112.72 so this is a great target. Average daily range is 140 pips for this pair, so this is a high probability trade set up.
Let me know what you think.
Thanks and happy trading
- #5,523
- Jan 30, 2011 8:32pm Jan 30, 2011 8:32pm
hi.i think we may see a retracement at 113.05 before another drop as long 111.584 hold.n i expect a drop will limited at 109.56 support because near fib ret 61.8 area.combination support n fib could hold this area.After that we may see your target at 117 area.2 cents
- #5,526
- Feb 7, 2011 6:04am Feb 7, 2011 6:04am
- | Commercial User | Joined May 2009 | 5,751 Posts
What do you guys think about the E/Y going long? Saiko why do you believe it is going long? I have attached my analysis. I am looking for a 123 bottom and a trendline break to the upside to 116.36 to 116.70. Any help would be greatly appreciated.
WE will see, you can check my analisy here
http://www.forexfactory.com/showpost...&postcount=314I sold eurjpy at 111.60 and i go for 115 pips
Cheers
Petar
"Buy on fear, sell on greed !!!
- #5,527
- Feb 7, 2011 6:38am Feb 7, 2011 6:38am
- | Joined Jan 2011 | Status: Student, teacher, trader | 89 Posts
Hmm,
WE will see, you can check my analisy here
I sold eurjpy at 111.60 and i go for 115 pips
Cheers
Petar
- #5,529
- Feb 8, 2011 6:26am Feb 8, 2011 6:26am
- Joined Jun 2009 | Status: Trend Trader | 6,277 Posts
If you think you can or cannot do it you are correct
- #5,530
- Feb 8, 2011 6:36am Feb 8, 2011 6:36am
- | Commercial User | Joined May 2009 | 5,751 Posts
I have been seriously bearish on this pair recently
Only to have a look again to see that its daily chart is constrictive and now positive
I am in position from yesterday,we will see
Cheers
Petar
"Buy on fear, sell on greed !!!
- #5,531
- Feb 8, 2011 6:59am Feb 8, 2011 6:59am
- Joined Jun 2009 | Status: Trend Trader | 6,277 Posts
Hello there,
I am in position from yesterday,we will see
Cheers
Petar
If you think you can or cannot do it you are correct
- #5,533
- Feb 8, 2011 7:14am Feb 8, 2011 7:14am
- | Commercial User | Joined May 2009 | 5,751 Posts
"Buy on fear, sell on greed !!!
- #5,534
- Feb 8, 2011 8:10am Feb 8, 2011 8:10am
- Joined Jun 2009 | Status: Trend Trader | 6,277 Posts
If you think you can or cannot do it you are correct
- #5,537
- Edited 2:25pm Feb 8, 2011 2:07pm | Edited 2:25pm
- | Joined Jul 2009 | Status: yo | 3,577 Posts
shorted at current market 112.25
- #5,539
- Feb 8, 2011 4:34pm Feb 8, 2011 4:34pm
- | Commercial User | Joined May 2009 | 5,751 Posts
Attachment
I expected this pair to be more explosive to the upside. Uptrend is still intact on 1 hr time frame, albeit very slow. A short may be good here, but, I wouldn't feel comfortable until it breaks support 1. And my target would be support 2 for a profit. What is your target? I thought about shorting for 70 pips or so if up trend line weakens and the trade sets up to my liking. In the meantime, I'm just going to slowly ride this trade upward. Keeping my risk small, just in case trend line breaks.
"Buy on fear, sell on greed !!!
- #5,540
- Feb 8, 2011 7:44pm Feb 8, 2011 7:44pm
- | Joined Jul 2009 | Status: yo | 3,577 Posts
Attachment
I expected this pair to be more explosive to the upside. Uptrend is still intact on 1 hr time frame, albeit very slow. A short may be good here, but, I wouldn't feel comfortable until it breaks support 1. And my target would be support 2 for a profit. What is your target? I thought about shorting for 70 pips or so if up trend line weakens and the trade sets up to my liking. In the meantime, I'm just going to slowly ride this trade upward. Keeping my risk small, just in case trend line breaks.
