Manage to enter long EU @1.35207, (C flat down) ... lets see if we get to 1.37474-1.38053 ... so will unload some longs Meanwhile ... scalping on USDCHF and EURCAD ... not all will be swing trades ...{image}
- #14,761
- Jun 5, 2014 11:16am Jun 5, 2014 11:16am
- Joined Mar 2011 | Status: Trader | 1,128 Posts | Online Now
- #14,762
- Jun 5, 2014 12:35pm Jun 5, 2014 12:35pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} Took partials @1.36539 ... will reload longs lower, on pullback.
- #14,763
- Edited 1:19pm Jun 5, 2014 12:51pm | Edited 1:19pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
- #14,764
- Jun 5, 2014 1:12pm Jun 5, 2014 1:12pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} That was spot on mate! Well done, you advice did help me unloading my shorts, although I did do a bit early around 1.3550 to be on the safer side. Again went long from 1.3528 which I will off load around 1.3670 area.I really like your system of offsetting positions, will definitely try to understand it more and try my hands on it as well. Long-term are you still bearish on EU, I remember you telling me it should be around 1.3300 and then 1.2700, if I remember it correct. Do you keep a time-frame in mind as well. It was a really...
Hi Workingforex,
thank you very much :-)
3528 was a very good entry, out of my sight. I think, that most today missed the opportunity to go long when price was around that level. I think price was only 15min below of it. When it was below of it, I myself was not so sure anymore that it would go up. Gladly, I set pending orders beforehand and played it in auto-pilot modus LOL
From an EW point of view I am favoring a scenario, where price will go to the 1.14 level, extended even sub 0.9
From a volume analysis point of view the 3094 level will be an important high volume area POC (+/- 9 pips)
Here is the long term volume distribution:
Murrey Math targets (bigger ones) are 3184, then 1.2695
Timeframe considerations are hard, at least out of my perspective. It depends all on social mood. Even Elliott did not find good rules and guidelines for time.
Maybe our friend Godim can say something about that, because he is the Pope here when it comes to Gann and time
But I think it will take several weeks to months. Right now we should face at least a few days volatile upward movement. Strategies should be adapted for ranging markets, I think.
Sorry to hear about your Gold. Where did you enter?
Will publish later a fresh EW count for Gold
{quote} Hi Workingforex, thank you very much :-) 3528 was a very good entry, out of my sight. I think, that most today missed the opportunity to go long when price was around that level. I think price was only 15min below of it. When it was below of it, I myself was not so sure anymore that it would go up. Gladly, I set pending orders beforehand and played it in auto-pilot modus LOL From an EW point of view I am favoring a scenario, where price will go to the 1.14 level, extended even sub 0.9 From a volume analysis point of view the 3094 level will...
About my Gold, I am considering it as an investment at the minute, as I have seen it bottoms out in June/July and then moves in pattern and goes up around October to December. I entered around 1285-1270, have a few long entries. Think will have to hold them for a few weeks to even months before they can come back to some green/bankable pips. I think I shall hold them till around 1330-1350 level. Your analysis and input will be much appreciated.
I mostly trade on fundamentals as that is the only thing I understand to some extent. I am trying to learn technical analysis as well, hopefully will get there one day. I really appreciate your knowledge and clear understanding of things. Thanks for being around.
Much regards,
- #14,768
- Jun 5, 2014 2:50pm Jun 5, 2014 2:50pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} Yes, thanks for the reply, it all makes sense to me and definitely see it happening. I still consider myself as a novice in trading, not long before I started trading full-time now. In my initial days, there were many nice people who helped me a lot, one very nice person Fx-Ray helped me a lot with my learning and understanding of how things work. Don't know why he left FF for some reason. I still consider myself in my learning phase. There is so much and so very interesting things to learn and I come across one everyday. About my Gold,...
In my opinion, only the very big macroeconomic fundamentals may eventually work out (especially in Forex: shifts in yields etc.)
For day to day action they are a very weak tool for judgements. But that is my opinion, and since I am also an Elliott wave trader I do think, that most of the moves are purely a play of the sentiment.
From all the methods I have seen so far is PA at volume related S/R levels the best tool you can get for making trading decisions.
Regarding Gold:
I see - you bought Gold a few days ago, it seems......
1330-1350 seems reasonable, so far (for the case, that we are indeed in a wave 4 triangle right now)
Regarding Fx-Ray:
He has been an inspiring help for me in the past, too.
sadly, it seems that he abandoned FF entirely
- #14,769
- Jun 5, 2014 3:03pm Jun 5, 2014 3:03pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
EU
Murrey Math levels and direction (VWAP assisted)
Murrey Math levels and direction (VWAP assisted)
- #14,771
- Jun 5, 2014 3:28pm Jun 5, 2014 3:28pm
- Joined Jan 2012 | Status: Gone | 1,570 Posts
Defending Truth, Capitalism and the US Constitution
- #14,773
- Jun 5, 2014 6:45pm Jun 5, 2014 6:45pm
- Joined Jan 2012 | Status: Gone | 1,570 Posts
Defending Truth, Capitalism and the US Constitution
- #14,778
- Jun 5, 2014 11:40pm Jun 5, 2014 11:40pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
EU
volume distribution 32 days
volume distribution 32 days
- #14,779
- Jun 6, 2014 12:21am Jun 6, 2014 12:21am
- Joined Jun 2010 | Status: zero | 20,603 Posts
GU daily TF
EW
EW
- #14,780
- Jun 6, 2014 12:24am Jun 6, 2014 12:24am
- Joined Jun 2010 | Status: zero | 20,603 Posts
EU weekly TF
EW
EW