GU 1.64
EU 1.45
...areas...
before day ends?
possible?
EU doing it while writing
90% of traders use TA, indicators and prediction
Cable Update (GBPUSD)
- #287,361
- Aug 26, 2011 11:38am Aug 26, 2011 11:38am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
EU doing it while writing
- #287,362
- Aug 26, 2011 11:39am Aug 26, 2011 11:39am
no tgt for the moment on that 1/3 position
that 6280-6300 also possible start of new week
im planning to add if good setup appears on a move near 6300.
can be a bottom of a nice swing!
a bit early to predict now, setup not complete in hourly chart.
time will tell
Can you please explain. Im still learning
- #287,364
- Aug 26, 2011 11:44am Aug 26, 2011 11:44am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
What U Do Need to make an open Position:
1. Candle Stick Analysis
2. Trend Line, S& R Lines
3. Money Management
4. Time Frame
Important: Please do not use any indicator although RSI, MACD or etc this indicator used to trapped us, if the RSI show the over bought position but the market still want to go long then what the matter with the RSI..??
Before make an entry have a look first in the bigger TF such as daily and 4H..
Then start make the trend Line and S&R Lines..
continued with the candle stick analysis if the candle stick show us the signal...
a bit disagree on oscillators... i use them for divergences, not for overbought/oversold areas.
anyway in m1 TF possible scalps in exterme over sold/bought but only for scalps
90% of traders use TA, indicators and prediction
- #287,365
- Aug 26, 2011 11:44am Aug 26, 2011 11:44am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction
- #287,366
- Aug 26, 2011 11:47am Aug 26, 2011 11:47am
i learned this lesson this week!
a bit disagree on oscillators... i use them for divergences, not for overbought/oversold areas.
anyway in m1 TF possible scalps in exterme over sold/bought but only for scalps
Thanks Bro
Some times I have been tired to do scalping as I used too, I will do scalping if there is no good entry yet for the Bigger TF
- #287,367
- Aug 26, 2011 11:49am Aug 26, 2011 11:49am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
What do you mean by "Setup not complete in hourly chart"?
Can you please explain. Im still learning
emas (60 n 200) are crossed down and pointing down in h1 and also in m30 chart.
need them to be crossed up and price above to see more up.
until they are down is possible to see price moving down at least to main support areas. i use emas to understand better price direction
90% of traders use TA, indicators and prediction
- #287,369
- Aug 26, 2011 11:51am Aug 26, 2011 11:51am
What U Do Need to make an open Position:
1. Candle Stick Analysis
2. Trend Line, S& R Lines
3. Money Management
4. Time Frame
Important: Please do not use any indicator although RSI, MACD or etc this indicator used to trapped us, if the RSI show the over bought position but the market still want to go long then what the matter with the RSI..??
Before make an entry have a look first in the bigger TF such as daily and 4H..
Then start make the trend Line and S&R Lines..
continued with the candle stick analysis if the candle stick show us the signal...
Although indicators are flawed and can be "deceptive", I still use it to show overbought and oversold zones in larger time frames - H4 and above. One has to understand the purpose and limitation of an indicator before using it. And I would not advise from using too many indicators. The lesser the better. I personally use only 1 - stochastic. Too many indicators can clutter our mind, a.k.a. information overload.
Good one. keep it coming
- #287,371
- Aug 26, 2011 12:06pm Aug 26, 2011 12:06pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction
- #287,372
- Aug 26, 2011 12:07pm Aug 26, 2011 12:07pm
you see in my previous h1 chart.
emas (60 n 200) are crossed down and pointing down in h1 and also in m30 chart.
need them to be crossed up and price above to see more up.
until they are down is possible to see price moving down at least to main support areas. i use emas to understand better price direction
Just my opinion. I think MAs are somewhat lagging but somewhat useful.
- #287,373
- Aug 26, 2011 12:09pm Aug 26, 2011 12:09pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Thanks for the explanation.
Just my opinion. I think MAs are somewhat lagging but somewhat useful.
ema is imho best indicator..support and resistance it is good to have on chart, just incase.
put 62ema on 1hr and see how much it is accurate and traders acknowledge it..that thing can give u pips on its own
u can also use ema to trade to give targets, there quite usefull
- #287,374
- Aug 26, 2011 12:10pm Aug 26, 2011 12:10pm
guys... two questions please!
what happens if sunday opening price is below or above our stops?
i mean... now my stop is 6260.
what happens if Sunday market opens @6259 or lower?
do brokers close it automatically @6260?!
and then... what if during interbank trading on sunday, price cover our stops then go again up? for example, a move @6259 then again up @6280 while market is not open at retailers...
- #287,376
- Aug 26, 2011 12:12pm Aug 26, 2011 12:12pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
a friend remind me one important thing:
checkin the calendar the jackson five will keep going on during weekend....
is it better close all position?!
not good to close friday +100 n open sunday 0
checkin the calendar the jackson five will keep going on during weekend....
is it better close all position?!
not good to close friday +100 n open sunday 0
90% of traders use TA, indicators and prediction
- #287,378
- Aug 26, 2011 12:17pm Aug 26, 2011 12:17pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
As far as I know the Sunday candle stick U can trade it also if Ur Position is fit to the trend.. Let say the trend is up Used to (there is also an opposite) the sunday will be open arroun 50 - 80 pips above the last position due the interbank did an internal trading on saturday and sunday
so.. if i go short now. with stop @6400 and market opens @6401 then go straight to 2.0 without recovering the 6400... what happens to my position?
i never had this case but always ask myself..
90% of traders use TA, indicators and prediction
- #287,379
- Aug 26, 2011 12:19pm Aug 26, 2011 12:19pm
ok
so.. if i go short now. with stop @6400 and market opens @6401 then go straight to 2.0 without recovering the 6400... what happens to my position?
i never had this case but always ask myself..
Just simple if the candle open candle stick start by touching Ur SL then Ur position will be closed automatically, if the candle stick open 60 point above UR Long position then Ur point will be added automatically more +60 pips
- #287,380
- Aug 26, 2011 12:20pm Aug 26, 2011 12:20pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
SNB is on Duty
where are all those lots going to be invested next week?!?!
gold very high, eur not solid yet, gbp still in bit trouble, usd still not recovering.
what would we buy actually if we could have some 1000-2000 lots (or more) to trade?!
90% of traders use TA, indicators and prediction