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Fail Better

  • #1,541
  • Aug 23, 2011 6:13am Aug 23, 2011 6:13am
Quoting pex
retest 1.4248?
what do you think?
Nice trade, you took it?
  • #1,542
  • Aug 23, 2011 6:57am Aug 23, 2011 6:57am
Quoting 4FXsake
Got in at 1.4454 but there is a TL looming - may put the brakes on this one and possibly our "hairy headed" () E/G spider!
Less than ideal, those will hammer your account.
  • #1,543
  • Aug 23, 2011 7:16am Aug 23, 2011 7:16am
Quoting daft
Less than ideal, those will hammer your account.
TLs, brakes or hairy headed spiders?
  • #1,544
  • Aug 23, 2011 7:43am Aug 23, 2011 7:43am
Quoting gc7
Tom, that EURUSD trade you took looked like a butt-kiss. I thought you only took the rounded retest in that situation? Was it the strong push up on H1 that made it ok?

Grant
This wasn't a butt kiss (which to me is a test on the very next bar after the one that breaks the level - this was the second bar) however you are correct in saying it wasn't a rounded retest.

I will consider these acceptable when looking for a very small bounce e.g. 20 pips
  • #1,545
  • Aug 23, 2011 9:36am Aug 23, 2011 9:36am
Gold closed the gap. Which way now? Daily looking more like an SFP?
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  • #1,546
  • Aug 23, 2011 10:12am Aug 23, 2011 10:12am
Quoting 4FXsake
Gold closed the gap. Which way now? Daily looking more like an SFP?
The D1 chart for Gold is NOT an SFP.
  • #1,547
  • Aug 23, 2011 11:04am Aug 23, 2011 11:04am
Tom,was that enough space for a long entry on the bund,or did it look a bit over extended.
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  • #1,548
  • Aug 23, 2011 1:02pm Aug 23, 2011 1:02pm
Quoting 4FXsake
Gold closed the gap. Which way now? Daily looking more like an SFP?
More downside to come imo. I am already short Gold and Silver.
  • #1,549
  • Aug 23, 2011 3:22pm Aug 23, 2011 3:22pm
Quoting the_wizard
More downside to come imo. I am already short Gold and Silver.
Hope you and Lindsey are doing fine

Can get your view on Gold?

I'm sure many have pulled out the BEOB on the daily, all well and good. But much like you, I want to be IN a trade at it's source and not just rely on PA as a lagging indicator. (I.e entering on the break)

Would you consider looking at Gold 1h as a VALID entry point using the daily as your bias? I've marked out some levels where I think price may retrace to before another move down, but none (in my eyes) are very convincing and not what I would classify as a "good" level. In effect I'm looking for a rounded retest to join in with the bears.

Thanks in advance, Tomek
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  • #1,550
  • Aug 23, 2011 3:38pm Aug 23, 2011 3:38pm
Quoting the_wizard
The D1 chart for Gold is NOT an SFP.

Whoops! You are absolutely right, Tom.
  • #1,551
  • Aug 24, 2011 4:12am Aug 24, 2011 4:12am
Quoting the_wizard
More downside to come imo. I am already short Gold and Silver.
Hi Tom, can you shed some light on your gold and silver shorts? Entry, SL?

Thanks
  • #1,552
  • Aug 24, 2011 10:51am Aug 24, 2011 10:51am
Looking to stand in front of this at 1749,stop at 1742

edit 1746 on fxpro
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  • #1,553
  • Aug 24, 2011 12:59pm Aug 24, 2011 12:59pm
SPF on USDJPY anyone?
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  • #1,554
  • Aug 24, 2011 1:30pm Aug 24, 2011 1:30pm
Quoting stuart1967
Looking to stand in front of this at 1749,stop at 1742

edit 1746 on fxpro

Amazing call ... wish I was in front of pc then a treadmill .... Missed this one .. was Epic trade
  • #1,555
  • Aug 24, 2011 2:06pm Aug 24, 2011 2:06pm
Quoting stuart1967
Looking to stand in front of this at 1749,stop at 1742

edit 1746 on fxpro
Almost got that, didn't you!

This Gold is one wild ride right now!
  • #1,556
  • Aug 24, 2011 11:25pm Aug 24, 2011 11:25pm
It seems it;s time to revers gold shorts now...we may likely end up with a D1 PB today. Let's see.
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  • #1,557
  • Aug 25, 2011 12:55am Aug 25, 2011 12:55am
Quoting stuart1967
Looking to stand in front of this at 1749,stop at 1742

edit 1746 on fxpro
Forgot to add ; your stop is insanely tight for this volatility.
  • #1,558
  • Aug 25, 2011 1:54am Aug 25, 2011 1:54am
Although, i pulled the order,because it hadn,t triggered in the NY session,i think it worked out well.

I take your point about volatility,but this was planned on mechanical rules and they are not to bad.
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  • #1,559
  • Aug 25, 2011 3:28am Aug 25, 2011 3:28am
Missed my order by 3 pips, happens way too often!

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pat
  • #1,560
  • Aug 25, 2011 3:46am Aug 25, 2011 3:46am
whoops ...Pat just noticed your post.
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