High velocity trading | Page 71 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA based on Velocity/Acceleration 1 reply

High velocity 38 replies

Why does the GBP/USD have so much more Velocity than the other majors? 6 replies

Renko Bars - Alert for PA Velocity 7 replies

Attachments: High velocity trading
Exit Attachments

High velocity trading

  • #1,401
  • Oct 13, 2011 7:15am Oct 13, 2011 7:15am
Quoting stevebalmmer
i have a little profit, sl was arived.
is the wicked make a reversal, i go long at 1670.00
yeah price action is playing mind games, so right now remaining on the sidelines sounds like a better plan.

Probably will call it a day too, unless we reach 50-55 area and I see some reaction there.

Looks like we need to time the entry based on BRENT PA as well, once BRENT will reach MP (IF it will too).
  • #1,402
  • Oct 13, 2011 7:15am Oct 13, 2011 7:15am
Quoting ruffryders
Yeah Steve I already bought, the setup in there on the chart I posted previously. Probably above 1675 is a safer ENTRY LONG now, but I took my chances.

I closed my gold short with a minor profit anyway.
I too closed my short after gaining some profit.
now long with 1664 SL
  • #1,403
  • Oct 13, 2011 7:17am Oct 13, 2011 7:17am
http://img827.imageshack.us/img827/6907/brentmp.png
  • #1,404
  • Oct 13, 2011 7:17am Oct 13, 2011 7:17am
tahts BRENT chart above. We need to see price reach Monthly Pivot, and once it does, look for reaction on GOLD. It should be a LONG setup. But right now I just don't have a good feeling about it.
  • #1,405
  • Oct 13, 2011 7:22am Oct 13, 2011 7:22am
GOLD if you guys entered LONG with SL @ 64 you might be actually in GOOD shape. I just put my SL too close.
  • #1,406
  • Oct 13, 2011 7:23am Oct 13, 2011 7:23am
Quoting ruffryders
GOLD if you guys entered LONG with SL @ 64 you might be actually in GOOD shape. I just put my SL too close.
I guess we will find out soon enough.
  • #1,407
  • Oct 13, 2011 7:25am Oct 13, 2011 7:25am
Quoting ruffryders
GOLD if you guys entered LONG with SL @ 64 you might be actually in GOOD shape. I just put my SL too close.
i closed it with minor profit
now i will follow your suggestion of not doing overtrading and will eait for clear signal
  • #1,408
  • Oct 13, 2011 7:27am Oct 13, 2011 7:27am
Quoting jaimini
i closed it with minor profit
now i will follow your suggestion of not doing overtrading and will eait for clear signal
yeah ... still looks like we are going to decide direction soon time
  • #1,409
  • Oct 13, 2011 7:27am Oct 13, 2011 7:27am
Euro/UD and Cable looking shortish...1 hr.. EUGBP Looks like a roll over on the 4 hr... Just my opn of course......
  • #1,410
  • Oct 13, 2011 7:34am Oct 13, 2011 7:34am
Quoting ruffryders
yeah ... still looks like we are going to decide direction soon time
OK, 50-55 is ON now probably, so let's keep a close watch of that area.

Damn, SHORTING was right, but this time around PA tricked me.

oh well, can't win them all I guess, as they say.
  • #1,411
  • Oct 13, 2011 7:41am Oct 13, 2011 7:41am
http://us.123rf.com/400wm/400/400/si...resh-fruit.jpg

time for a cup of tea!
  • #1,412
  • Oct 13, 2011 7:47am Oct 13, 2011 7:47am
http://img528.imageshack.us/img528/3...ng13102011.png
  • #1,413
  • Oct 13, 2011 7:51am Oct 13, 2011 7:51am
OK guys while I'm at it (cup of tea), there is an important PA concept, which I think is worth learning - called price zooming areas.

What it is is that Price has a short term and long-term memory. That's how the Support and Resistance works. The more bounces you get, the stronger the designated S/R area is.

Zooming, means price goes through the area very fast.

As you can see above is the M30 GOLD chart (recent one). Price did a strong move on October 11, zooming starts @ 1673 and stops @ 1653.

Now the chances are if we enter the zooming price area, history can repeat itself.

I guess what I'm saying is that you have to be aware of the zooming price action areas on the chart. Usually, if price enters this zone, it will proceed through very promptly.

In fact we had an awesome short on ECAD a week before, for +140 pips, based exactly on this principle.

BOTTOMLINE: So just make sure you watch out for those areas on the chart.
  • #1,414
  • Oct 13, 2011 7:53am Oct 13, 2011 7:53am
Dan I agree that GU/EU can push lower, but still my USDX H4 chart says that it's just a pullback, so tmrw (probably) there will be continuation on EU/GU/AU.
  • #1,415
  • Oct 13, 2011 7:55am Oct 13, 2011 7:55am
4 hr gold.. picture.. i reckon its going to on or around the Purple line..with crosses..
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 12 KB
  • #1,416
  • Oct 13, 2011 8:00am Oct 13, 2011 8:00am
http://img692.imageshack.us/img692/6...3013102011.png


Guys, let's just not get stuck with GOLD. A very HQ setup on UCAD M30. Clear rejection of upside (LONG WICKS).

Look for a possible TL break around 0170-90 area and go SHORT. TP @ 110 probably. SL 20-25 points.
  • #1,417
  • Oct 13, 2011 8:02am Oct 13, 2011 8:02am
Quoting danc
4 hr gold.. picture.. i reckon its going to on or around the Purple line..with crosses..
possible YES, but 50-55 area will provide strong enough resistance to get us a retest of 75 area. So for right now I stick around to see what 50-55 delivers. Sure, if PA cracks it, 35 could be ON next (35-38 near WP). Regardless it's still a good BUY.
  • #1,418
  • Oct 13, 2011 8:05am Oct 13, 2011 8:05am
I got a pending AU LONG setup as follows: LONG @ 0184 SL 25 TP + 125.

UCAD likewise SHORT SELL @ 0174 SL 25 TP @ 0068
  • #1,419
  • Oct 13, 2011 8:10am Oct 13, 2011 8:10am
Quoting ruffryders
I got a pending AU LONG setup as follows: LONG @ 0184 SL 25 TP + 125.

UCAD likewise SHORT SELL @ 0174 SL 25 TP @ 0068
GOLD I will await reaction @ 50-54 area and once we establish a base there will look to buy in the top range of this zone for TP @1675.
  • #1,420
  • Oct 13, 2011 8:16am Oct 13, 2011 8:16am
Quoting ruffryders
I got a pending AU LONG setup as follows: LONG @ 0184 SL 25 TP + 125.

UCAD likewise SHORT SELL @ 0174 SL 25 TP @ 0068
UCAD is showing TL Break in M30 chart
1 trader viewing now