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Price is everything

  • #10,021
  • Feb 24, 2011 4:13pm Feb 24, 2011 4:13pm
Quoting uksnowman
Swissy broke daily lows, will wait for a reaction at this s turned r zone. EU looks like it is not finished with the upmove, so this swissy trade could be good for a few.
Swissy is at an all time low actually, there is no way to know where this will stop right now to be honest since there is no historical comparitive measure based on historical data. So stay away from swissy until it reacts again or forms a solid base, you will see it when institutional orders start kicking in.

EU isnt finished with its upmove and i agree with that statement but tommorow is friday, which means profit taking or setting up positions for monday so be wary of that, based on last sundays analysis all of my zones got hit except for one.

AUDUSD is trying to break up and its had a nice bullrun, this can also be stophunting before new lows.

Pound is messy, i agree with a sell sentiment for now but i am positioned bullish.

EJ.. not touching that

GBPNZD watching kiwi for entry.
  • #10,022
  • Feb 24, 2011 4:14pm Feb 24, 2011 4:14pm
bought slv @ 32.13
  • #10,023
  • Feb 24, 2011 5:00pm Feb 24, 2011 5:00pm
Quoting Orbital
Swissy is at an all time low actually, there is no way to know where this will stop right now to be honest since there is no historical comparitive measure based on historical data. So stay away from swissy until it reacts again or forms a solid base, you will see it when institutional orders start kicking in.
Thanks for the reply. I wouldn't like to get caught on the wrong side of intervention either, so best to let Swissy show her hand first as you say.
  • #10,024
  • Feb 24, 2011 5:38pm Feb 24, 2011 5:38pm
Quoting redsword11
bought slv @ 32.13

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #10,025
  • Feb 24, 2011 5:45pm Feb 24, 2011 5:45pm
Red whats the pip value for 1 standard lot of XAG/USD ?
  • #10,026
  • Feb 24, 2011 5:54pm Feb 24, 2011 5:54pm
Quoting Orbital
Red whats the pip value for 1 standard lot of XAG/USD ?


open price 1403.15 - 1403.16 one tick $1.00 for standard lot assuming your account is in $
  • #10,027
  • Feb 24, 2011 5:58pm Feb 24, 2011 5:58pm
Quoting redsword11
open price 1403.15 - 1403.16 one tick $1.00 for standard lot assuming your account is in $

oh, sorry you wanted to know about slv


open price 32.00 - 32.01 one tick $0.50 for one standard lot assuming your deposit currency is $


1 tick/pip is 0.001 therefore the proifit on the above example would be $5, from 32.00 - 32.01 is actually 10pips ( 32.000 - 32.010 )
  • #10,028
  • Feb 24, 2011 6:04pm Feb 24, 2011 6:04pm
ahh so its 5$ a pip... thats interessting, thanks

EDIT: Still not willing to trade artificially deflated metals like silver, even though these drops present themselves as cheap buying opportunities, same for gold.
  • #10,029
  • Feb 24, 2011 6:08pm Feb 24, 2011 6:08pm
Quoting Orbital
ahh so its 5$ a pip... thats interessting, thanks

EDIT: Still not willing to trade artificially deflated metals like silver, even though these drops present themselves as cheap buying opportunities, same for gold.


1 TICK/PIP IS $0.50


the example l gave above is actually 10pips profit because the pip is 3 decimal places and often platforms only display prices to 2 decimal places
  • #10,030
  • Feb 24, 2011 6:15pm Feb 24, 2011 6:15pm
Quoting redsword11
1 TICK/PIP IS $0.50


the example l gave above is actually 10pips profit because the pip is 3 decimal places and often platforms only display prices to 2 decimal places
nah i see what you mean, but since fxpro only displays it in 2 decimal places i consider 32.00 -> 32.01 to be 1 pip even though its 10 pips in actuality
  • #10,031
  • Feb 24, 2011 6:23pm Feb 24, 2011 6:23pm
Quoting Orbital
nah i see what you mean, but since fxpro only displays it in 2 decimal places i consider 32.00 -> 32.01 to be 1 pip even though its 10 pips in actuality


correct
  • #10,032
  • Feb 24, 2011 6:29pm Feb 24, 2011 6:29pm
Btw did you see that pin on the swissy on 5 minute.. this should become very interessting. Im hoping for it to drop even further, i am firmly believing that euros capability to reach 1.425 will depend on the swissys future right now, and should we reach that or see a strong move up on the swissy were goign straight back to 1.18. Longterm analysis though.

Oh also:
GBPUSD 15M bollinger squeezing really tight now, so breakout either way should happen soon,favouring longs
  • #10,033
  • Feb 24, 2011 6:34pm Feb 24, 2011 6:34pm
Hi Redpost,

I see all your chart been post in here.

Do you see supply and demand based on each timeframe ? and enter the trade based on that time frame ?

Since I see sometimes on M5 chart the price near the supply area and when we switch to H1 chart the supply still not establish yet or still at the top up area.

hope can get your reply...


Thanks n Regards,
  • #10,034
  • Feb 24, 2011 6:34pm Feb 24, 2011 6:34pm
Quoting redsword11
Attachment

Attachment

Attached Image (click to enlarge)
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  • #10,035
  • Feb 24, 2011 6:35pm Feb 24, 2011 6:35pm
Quoting pipfirst
Hi Redpost,

I see all your chart been post in here.

Do you see supply and demand based on each timeframe ? and enter the trade based on that time frame ?

Since I see sometimes on M5 chart the price near the supply area and when we switch to H1 chart the supply still not establish yet or still at the top up area.

hope can get your reply...


Thanks n Regards,
Question has been answered multiple times before in his post:

Red checks 4hr to see where prices stopped and where rallys began. Zooms into 15Minute to pinpoint the exact supply/demand levels/zones, and enteres trades based on 5 minute charts assuming priceaction confirm his speculations.
  • #10,036
  • Feb 24, 2011 6:43pm Feb 24, 2011 6:43pm
Took this as a scalp short from horizontal line. If current candle does not bearish engulf previous candle will close (stop at BE). If price gets to the target blue zone I may reverse and go long as it was the demand area for the large upmove. However, the area was already tested so may have missed the boat. Long from the blue zone has multiple targets and would be a better RR trade.
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  • #10,037
  • Feb 24, 2011 6:54pm Feb 24, 2011 6:54pm
Quoting uksnowman
Took this as a scalp short from horizontal line. If current candle does not bearish engulf previous candle will close (stop at BE). If price gets to the target blue zone I may reverse and go long as it was the demand area for the large upmove. However, the area was already tested so may have missed the boat. Long from the blue zone has multiple targets and would be a better RR trade.

Attached Image (click to enlarge)
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....... was discussing this UJ with a collegue a few hours ago, looks like its holding for atleast a few just now
  • #10,038
  • Feb 24, 2011 7:02pm Feb 24, 2011 7:02pm
I'm glad you posted your chart as I thought that big spike was sneaky broker tactics. Closed out for +7. Wanted to hold but have to knock off for today.
  • #10,039
  • Feb 24, 2011 7:04pm Feb 24, 2011 7:04pm
Quoting uksnowman
I'm glad you posted your chart as I thought that big spike was sneaky broker tactics. Closed out for +7. Wanted to hold but have to knock off for today.


NFP
  • #10,040
  • Feb 24, 2011 7:17pm Feb 24, 2011 7:17pm
Scalped 10 pips quickly,

if there is a retest of this zone im longing again, might be missing the long train though but its the safest bet, bullish engulfing through supply = new demand zone.

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