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14 Year Old Forex Trader's Lessons

  • #3,981
  • Nov 1, 2011 5:23pm Nov 1, 2011 5:23pm
short on gold, 63.75 angle break.

hey selym co, can u analyze gold in a short timeframe?

thanx
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  • #3,982
  • Nov 1, 2011 5:35pm Nov 1, 2011 5:35pm
the trendlines are all broken...and the red line seems to be the target...approximately 1738...but honestly i am afraid of this pair...it has a very big potential and does not recognize any authority...so i am not sure...but if we trust the lines..the target is 1738-1740..then it will fall down like a disaster...because in 4H it shud touch the lower median line of the pitchfork...(at least according to the theory)

God bless you
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Imagination rules the world ...
Selym Hyll Return This Year: na
  • #3,983
  • Nov 1, 2011 5:37pm Nov 1, 2011 5:37pm
Quoting selym_co
the trendlines are all broken...and the red line seems to be the target...approximately 1738...but honestly i am afraid of this pair...it has a very big potential and does not recognize any authority...so i am not sure...but if we trust the lines..the target is 1738-1740..then it will fall down like a disaster...because in 4H it shud touch the lower median line of the pitchfork...(at least according to the theory)

God bless you
imo with that sort of analysis i think it would hit the broken median line first perhaps?
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  • #3,984
  • Nov 1, 2011 5:43pm Nov 1, 2011 5:43pm


I just had a read of your beliefs/non beliefs chat.

I had so much fun, I was nearly pissing myself

You guys are really funny. I wish you all well.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,985
  • Nov 1, 2011 5:44pm Nov 1, 2011 5:44pm
possible eventualities going in my direction.

the lower the price hits next angle and expansion, the helling stronger momentum is.

i believe it would hit the first area first then ill put some profit stop loss of around +10, then i would just leave it alone.
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  • #3,986
  • Nov 1, 2011 5:44pm Nov 1, 2011 5:44pm
Quoting mla


I just had a read of your beliefs/non beliefs chat.

I had so much fun, I was nearly pissing myself

You guys are really funny. I wish you all well.

mla
i know im funny
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  • #3,987
  • Nov 1, 2011 5:49pm Nov 1, 2011 5:49pm
Quoting bumapatria
i know im funny
You and Bill are the creme de la creme

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,988
  • Nov 1, 2011 5:52pm Nov 1, 2011 5:52pm
i think this is the scenario....but as i told before....its too difficult to predict wat this pair will do...
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Selym Hyll Return This Year: na
  • #3,989
  • Nov 1, 2011 5:57pm Nov 1, 2011 5:57pm
it is near impossible or very rare for price to base up top and make accumulation and shoot up again. btw its supply and acting well.

5 pips profit currently lets see if the 61.8 holds. to me demand looks busted and might make a run to 100 and thats where usually price fluctuates acts dumb donno what to do, then it decides to either go up or down. s/d talking it should if it goes well go to 1709.09
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  • #3,990
  • Nov 1, 2011 6:04pm Nov 1, 2011 6:04pm
eur gbp buyers trying hard to defend their level. last time their zone got hit they got good buys but now its scarily looking liek possible double bottom or very violent break
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  • #3,991
  • Nov 1, 2011 6:10pm Nov 1, 2011 6:10pm
gbp usd demand possible turned supply.

now with long wick facing upwards. what does that mean? bulls frantically taking profits fast and bullish pressure and bearish pressure.

after all that could be a rejection wick.
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  • #3,992
  • Nov 1, 2011 6:39pm Nov 1, 2011 6:39pm
7 pips up in euro buy.

closed at 8 i hate the fact 3rd wave might come soon.

or its a b wave coming.
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  • #3,993
  • Nov 1, 2011 6:40pm Nov 1, 2011 6:40pm
Generally xagusd and xauusd follow each other and act similar...this is silver H1 chart...and there is a sell order...stop loss : -50 and take profit is +120...

if silver moves downwards then gold will most probably do the same...
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Imagination rules the world ...
Selym Hyll Return This Year: na
  • #3,994
  • Nov 1, 2011 6:44pm Nov 1, 2011 6:44pm
Quoting selym_co
Generally xagusd and xauusd follow each other and act similar...this is silver H1 chart...and there is a sell order...stop loss : -50 and take profit is +120...

if silver moves downwards then gold will most probably do the same...
yup. nice mate

i cant trade silver with my micro so maybe when i get enough capital for a mini then
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  • #3,995
  • Nov 1, 2011 6:46pm Nov 1, 2011 6:46pm
Quoting selym_co
Generally xagusd and xauusd follow each other and act similar...this is silver H1 chart...and there is a sell order...stop loss : -50 and take profit is +120...

if silver moves downwards then gold will most probably do the same...
hey dude i got a comment on you on ur fb page. add me
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  • #3,996
  • Nov 1, 2011 7:00pm Nov 1, 2011 7:00pm
good bearish momentum, might make a h/s here on my gold short.
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  • #3,997
  • Nov 1, 2011 7:01pm Nov 1, 2011 7:01pm
Quoting selym_co
Generally xagusd and xauusd follow each other and act similar...this is silver H1 chart...and there is a sell order...stop loss : -50 and take profit is +120...

if silver moves downwards then gold will most probably do the same...
hey selim do u live trade? just asking
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  • #3,998
  • Nov 1, 2011 7:04pm Nov 1, 2011 7:04pm
might take a short on gbp usd. entering supply. ill need to see a rejection of somekind,and a good price action showing downwards move.

3rd elliot wave count if its not beaten.

ADD: i am in.
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  • #3,999
  • Nov 1, 2011 7:08pm Nov 1, 2011 7:08pm
previous support there and supply here s the chart
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  • #4,000
  • Nov 1, 2011 7:16pm Nov 1, 2011 7:16pm
this time i also drew the bearish fan could penetrate deeper into supply for all that i know.

looking to TP at tad bove demand and on fan.
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