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EURUSD

  • #710,901
  • Oct 23, 2012 1:50pm Oct 23, 2012 1:50pm
I am back after having good sleep. Yesterday was +6 Pips only but hope today will be good day with scalping.
Love for all; Hatred for none.
  • #710,902
  • Oct 23, 2012 2:02pm Oct 23, 2012 2:02pm
Trade Idea: 200 sma bounce.

Good Luck, Long or Short. We are in the middle of wedge.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4HR WEDGE.png Size: 62 KB
"My 2 cents"
  • #710,903
  • Oct 23, 2012 2:44pm Oct 23, 2012 2:44pm
U can now buy gold... at the lows for good R:R.. hold for a few weeks set entry to BE.. im buying with SL at 1702 tp 1750ish or just wait until lower lows start forming otherwise hold.
  • #710,904
  • Oct 23, 2012 2:45pm Oct 23, 2012 2:45pm
Very similar trade play as you Stimulus, I caught the drop from down yesterday and left a buy in from 80 overnight (im on AUS time).

Only thing I dont like about playing this bounce is that 3020 may cap the upside. Ill move my SL to BE at 3020 and see how it plays from there. At the moment though the R:R on this one isn't ideal.
  • #710,905
  • Oct 23, 2012 3:31pm Oct 23, 2012 3:31pm
Let see what the Asian Session has in store
  • #710,906
  • Oct 23, 2012 3:33pm Oct 23, 2012 3:33pm
Quoting Stimulus
Trade Idea: 200 sma bounce.

Good Luck, Long or Short. We are in the middle of wedge.
Please correct if I'm wrong. For me, on H1 chart, SMA 200 used by you, is not the correct one. All SMAs (50,100,200) are relevant on daily chart and if you are changing the time frame from daily chart to hourly, you should adjust SMA accordingly. Even me, I'm trying to understand and use correctly the indicators...http://www.fxwords.com/m/moving-averages.html
Speculation converts one man's capital into another man's income
  • #710,907
  • Oct 23, 2012 3:35pm Oct 23, 2012 3:35pm
AUD CPI q/q will play an important role and then we can see the direction of trend upto the Euro session.
Love for all; Hatred for none.
  • #710,908
  • Oct 23, 2012 3:49pm Oct 23, 2012 3:49pm
Quoting cipid2001
Please correct if I'm wrong. For me, on H1 chart, SMA 200 used by you, is not the correct one. All SMAs (50,100,200) are relevant on daily chart and if you are changing the time frame from daily chart to hourly, you should adjust SMA accordingly. Even me, I'm trying to understand and use correctly the indicators...http://www.fxwords.com/m/moving-averages.html
I have the SMA according to Period Viewing. I would have to make the daily timeframe default.
"My 2 cents"
  • #710,909
  • Edited 4:19pm Oct 23, 2012 3:55pm | Edited 4:19pm
Quoting Jeheil
Very similar trade play as you Stimulus, I caught the drop from down yesterday and left a buy in from 80 overnight (im on AUS time).

Only thing I dont like about playing this bounce is that 3020 may cap the upside. Ill move my SL to BE at 3020 and see how it plays from there. At the moment though the R:R on this one isn't ideal.
Its against the momentum of past 8 hrs, so you cant expect alot of pips. I also wanted people to see the fact that PA is in the middle of the 4hr wedge. Up or Down. So many ways to view it. Take your pick.

http://www.forexfactory.com/showthre...65#post6126165
"My 2 cents"
  • #710,910
  • Oct 23, 2012 3:57pm Oct 23, 2012 3:57pm
debating re-entry on a short position..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #710,911
  • Oct 23, 2012 4:02pm Oct 23, 2012 4:02pm
Quoting england33
debating re-entry on a short position..
Yes! 1.2850 without any difficulty.
  • #710,912
  • Oct 23, 2012 4:05pm Oct 23, 2012 4:05pm
Quoting england33
debating re-entry on a short position..
Same here.
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Time turns trend. - W.D. Gann
  • #710,913
  • Oct 23, 2012 4:11pm Oct 23, 2012 4:11pm
Quoting Stimulus
I have the SMA according to Period Viewing. I would have to make the daily timeframe default.
From what I see daily 20-SMA is supporting the level 1.296 on H1..
Daily 20-SMA is equivalent with H1 480-SMA (20 days * 24 hours). It's a confusion in many trading softwares because when you change the timeframe, the X-SMA formula is calculated using the last X candlesticks on the same timeframe.
Speculation converts one man's capital into another man's income
  • #710,914
  • Oct 23, 2012 4:15pm Oct 23, 2012 4:15pm
Quoting falcon232
Yes! 1.2850 without any difficulty.
Really ???
  • #710,915
  • Oct 23, 2012 4:25pm Oct 23, 2012 4:25pm
Quoting DudeSepii
Really ???
Brief rest at 1.2910, then 1.2850.
  • #710,916
  • Oct 23, 2012 4:34pm Oct 23, 2012 4:34pm
Sell, TP 15 Pips
  • #710,917
  • Oct 23, 2012 4:37pm Oct 23, 2012 4:37pm
looks it's going to play thin range till au, china data
Mohan
  • #710,918
  • Edited 5:04pm Oct 23, 2012 4:40pm | Edited 5:04pm
I can see euro at 1.3120 tomorrow night and expecting gold to dip to 1701.30 @ 2am for the buy in
On the flip side: Screw putting faith in euro long signals and the gold boat may have already sailed?
Founder of Sutherland Wave Principle
  • #710,919
  • Oct 23, 2012 4:48pm Oct 23, 2012 4:48pm
Quoting mohan76
looks it's going to play thin range till au, china data
au data 1st bro, all ladies being held by DPP.s (for now) any new 1hrly lows will be disarster for bulls breaches of dpp will be disarster for bears,
If you are new to Forex? Say Goodbye to your account!!
  • #710,920
  • Oct 23, 2012 5:03pm Oct 23, 2012 5:03pm
Quoting KiwiTrada
au data 1st bro, all ladies being held by DPP.s (for now) any new 1hrly lows will be disarster for bulls breaches of dpp will be disarster for bears,
you MIA these days , doing some think else ?

Euro don't move much on au data , but china data can move everything

looks tokyo covering au shorts
Mohan
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