gold scalps... hi bbakker.. hope everything is well
- #27,122
- Feb 23, 2012 5:33am Feb 23, 2012 5:33am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Questions really should be posted in the PIE chat room but on this occasion (again) I will answer.
You really should read SS's articles. Common convention and a lot of trading books state that the more times price visits a level the stronger it is. Think about it... is this really true????
Every time price visits a supply/demand level, sellers/buyers are consumed. In DO's chart, price was making lower highs but kept bouncing of this demand level as each time price visited this level, buyers jumped in, but eventually there are going to be no...
Now I could be wrong and this is certainly not set in stone, but I am basing my prediction on weekly supply/demand levels. Look where I have price turning... fresh engulfing patterns.
I will come back at the end of this year to see how close I was or how badly wrong I got it. Like I said, it is not in stone. Anything can happen between now and then and it is imperative that if price tells you that your prediction is wrong, get out, re-evaluate and let the chart do the talking not your mind.
Don't shoot for the stars, take one step at a time, be prepared to put 1000s of hours of work into it, don't expect instant results, have a passion for it, so long you don't over-leverage, use proper money and risk management, you too can become a consistantly profitable trader.
That's it for me today... I am off back to bed as I feel like shite!
- #27,125
- Feb 23, 2012 6:40am Feb 23, 2012 6:40am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Speculators really are testing SNB as to whether they will action when price reaches the 1.20 peg and in reality SNB would prefer to see 1.40 but is that going to happen?
I think they will act, so I will be looking for longs near 1.20. I'd rather be long here than short!
P.S. I couldn't sleep with my little girl bouncing around downstairs. Looks like she is feeling better now.
"i presume you got stopped out and now missed the move as cable put in a classic double bottom."
hi BB!!!!
yes you are correct,i got stopped out from the CABLE long.
i wont lie,it is frastraiting but at least i learned a valuble lesson.(that cable is a bitch...lol...)
thank you for your kidness to post ther very informative explanations.!!
it helps a lot.
EDIT:by the way,i love runners.most of my trades i try to always keep a runner if my set up allows.no doubt i made a mistake with cable and as postd at that time i thought i moved my sl too early.it was a bad trade management by my part.!lessen learned.
done chatting,hopoe to post some charts later
hi BB!!!!
yes you are correct,i got stopped out from the CABLE long.
i wont lie,it is frastraiting but at least i learned a valuble lesson.(that cable is a bitch...lol...)
thank you for your kidness to post ther very informative explanations.!!
it helps a lot.
EDIT:by the way,i love runners.most of my trades i try to always keep a runner if my set up allows.no doubt i made a mistake with cable and as postd at that time i thought i moved my sl too early.it was a bad trade management by my part.!lessen learned.
done chatting,hopoe to post some charts later
- #27,127
- Feb 23, 2012 8:24am Feb 23, 2012 8:24am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #27,129
- Feb 23, 2012 8:44am Feb 23, 2012 8:44am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
short OZZY
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #27,131
- Feb 23, 2012 9:05am Feb 23, 2012 9:05am
- Joined Jan 2010 | Status: Amat victoria curam | 2,333 Posts
- #27,137
- Feb 23, 2012 11:41am Feb 23, 2012 11:41am
- Joined Jan 2010 | Status: Amat victoria curam | 2,333 Posts
You guys really think this is the appropriate place to discuss why you cant attach images? FFS just upload it somewhere and post a link here and figure it out Via PM... If it doesnt work on opera try chrome or Firefox instead and see if the issue lies within the Browser first... Jesus...
Gone for the rest of the day. Enjoy
Gone for the rest of the day. Enjoy
- #27,139
- Feb 23, 2012 1:03pm Feb 23, 2012 1:03pm
- Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts
