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Price is everything

  • #17,621
  • May 6, 2011 6:48am May 6, 2011 6:48am
Quoting mangalesh
took euro small entry and leave for the news to work

Dont know what to expect from NFP. It seems that only Yuro is still hovering above daily support.
GU, AU, NU, silver,gold broke their daily support.
AU, NU seems to reject old support.
4430 in yuro is just waiting to be tested. If daily closes below it today , we could be looking at 404-406 region
  • #17,622
  • May 6, 2011 6:55am May 6, 2011 6:55am
no instant gratification this time.. closed with @+13

Quoting KennyZ
entered on my demand line without pa confirmation @33.60

this may not work.. if not will try to close around be

let see..
  • #17,623
  • May 6, 2011 6:58am May 6, 2011 6:58am
thx for the info ..Got stopped out - 13



quote=Myrza;4599195]Dont know what to expect from NFP. It seems that only Yuro is still hovering above daily support.
GU, AU, NU, silver,gold broke their daily support.
AU, NU seems to reject old support.
4430 in yuro is just waiting to be tested. If daily closes below it today , we could be looking at 404-406 region[/quote]
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #17,624
  • May 6, 2011 7:01am May 6, 2011 7:01am
Quoting KennyZ
no instant gratification this time.. closed with @+13
The 5m chart looks like its respecting that demand area pretty well...
  • #17,625
  • May 6, 2011 7:21am May 6, 2011 7:21am
I would not be the least bit surprised if we jumped up 400-500 pips before today closes and have a huge gap on Sunday to the upside...seems like a classic scenario of price being at demand right before a news event...and this demand level is good on the Daily and right before NFP. Let's see what happens...I am gonna try to get in a long if I see rejection after NFP and momentum upwards. It's already headed below this area for the classic fake/spike of NFP

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  • #17,626
  • May 6, 2011 7:24am May 6, 2011 7:24am
this time i got her bit better..

closed @+72
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  • #17,627
  • May 6, 2011 7:29am May 6, 2011 7:29am
Here is the actual zone I am referring to on the Daily zoomed into the M15...

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  • #17,628
  • May 6, 2011 7:38am May 6, 2011 7:38am
made some quick + 38
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #17,629
  • May 6, 2011 7:53am May 6, 2011 7:53am
yes, but i don't use much of largish zones as i tend to scalp even within those zones..

for me bottom of that channel around 31.85.. i use wicks too

i mainly trade slv from m5 and m15 charts..

Quoting nebuman213
Here is the actual zone I am referring to on the Daily zoomed into the M15...

Attachment
  • #17,630
  • May 6, 2011 8:10am May 6, 2011 8:10am
Went short on silver off m15 supply. Will post chart in a few if I don't get stopped out

Stopped...stupid trade, huge momentum up like I expected and I'm shorting because I missed the move. Idiot
  • #17,631
  • May 6, 2011 8:19am May 6, 2011 8:19am
Quoting redsword11
Hello all, just wanted to post some price configurations that l trade often. I am more or less a swing trader or range trader. They are essential enguilfing whipsaw patterns at key levels and and work well in my trading plan. I also reduce all noise from my charts as its just a distaction to me. Hope you see these too and take advantage. They occur on all tfs and any pair, Got some examples

http://i42.tinypic.com/15zmp8z.gif

http://i41.tinypic.com/24qsnrd.gif

not sure if the links will work, first time l am posting...
What do you mean when you say "reduce all the noise“ ?
  • #17,632
  • Edited 8:33am May 6, 2011 8:22am | Edited 8:33am
Friggin short again off the 5m doji. No more trades if this gets stopped. Chart in a few

damn it shot up and had to close +15
  • #17,633
  • May 6, 2011 8:28am May 6, 2011 8:28am
Hi Kenny,
Stronger support is at 29.

Quoting KennyZ
yes, but i don't use much of largish zones as i tend to scalp even within those zones..

for me bottom of that channel around 31.85.. i use wicks too

i mainly trade slv from m5 and m15 charts..
  • #17,634
  • May 6, 2011 8:33am May 6, 2011 8:33am
I think silverwas sold on fear, when it starts go long again, I expect it to shoot up
  • #17,635
  • May 6, 2011 8:34am May 6, 2011 8:34am
So I'm not sure if we are going to meet lower levels such as 31 or 29 to be honest. Time will tell. I hope it goes back up from today
  • #17,636
  • May 6, 2011 8:38am May 6, 2011 8:38am
Gap seen on M5.
  • #17,637
  • May 6, 2011 8:45am May 6, 2011 8:45am
Attached Image (click to enlarge)
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....... this is bullish
  • #17,638
  • May 6, 2011 8:48am May 6, 2011 8:48am
Quoting RCoxFX
What do you mean when you say "reduce all the noise“ ?


trader, if that ain't oblivious ....



not even sure is that is a serious question
  • #17,639
  • May 6, 2011 9:05am May 6, 2011 9:05am
Hi Red,
thanks for sharing this.

Would you mind explaining how do you actually find the bearish divergence with the red lines on the 2nd chart?

Quoting redsword11
Hello all, just wanted to post some price configurations that l trade often. I am more or less a swing trader or range trader. They are essential enguilfing whipsaw patterns at key levels and and work well in my trading plan. I also reduce all noise from my charts as its just a distaction to me. Hope you see these too and take advantage. They occur on all tfs and any pair, Got some examples

http://i42.tinypic.com/15zmp8z.gif

http://i41.tinypic.com/24qsnrd.gif

not sure if the links will work, first time l am posting anything....
  • #17,640
  • May 6, 2011 9:14am May 6, 2011 9:14am
Quoting RCoxFX
What do you mean when you say "reduce all the noise“ ?
Look here for info and then ask questions

http://www.forexfactory.com/showthread.php?t=288142

We'll answer all the ones that will add to the knowledge base already created, but it may take 'til the weekend.

Best, and welcome

If
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