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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #15,601
  • Jul 29, 2014 11:57am Jul 29, 2014 11:57am
Quoting infinitus
{quote} was a nice trade I mentioned 1280 as the low and got 1287.50 From what I see on EW, it should now go up towards the 1360 level
Hm, from what i see there is no reason for price to go up i might be wrong but here are my reasons for thinking so:

Looking at weekly its hard to imagine price going up in such structure right now, down easy, up i dont see it. Weekly candle close will tell for sure but if down is really confirmed it will tell before this week ends.

http://prntscr.com/47j6vq
http://prntscr.com/47j7uf


1360 would be ofcourse amazing to meet for shorting, but i think its just a dream

Just so that i dont looks a jackass, trade on picture was long scalp only which goes against view it didnt go as planned so i moved TP to BE, just hit it. Reason for this long is that usually once gold drops so strongly from Comex it forms tight range nice for scalping, usually 2-4 trades on both sides can be picked from it.
http://prntscr.com/47jaca
Could have picked one more short on upper channel but have chickened out.
  • #15,602
  • Jul 29, 2014 12:14pm Jul 29, 2014 12:14pm
Quoting janpec1000
{quote} Forgot to mention last weeks gold shorts went well, down target reached. This is temporary down target, i am still completly set on 1260-1250 as down minimum.

well, 1240 would not harm my count
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  • #15,603
  • Jul 29, 2014 12:24pm Jul 29, 2014 12:24pm
http://www.zerohedge.com/sites/defau.../picture-5.jpg
Our Marginal Economy

look at the chart with the velocity of money

that is the reason the FED can literally print without much fear of inflation
  • #15,604
  • Jul 29, 2014 12:52pm Jul 29, 2014 12:52pm
http://www.zerohedge.com/sites/defau.../picture-5.jpg
The "Most Significant Danger" According To Elliott's Paul Singer
  • #15,605
  • Jul 29, 2014 2:10pm Jul 29, 2014 2:10pm
Quoting 2046
{quote} hey fini, all, very nice MM table, says it all. H4 and D1 are increasingly looking good to short while W1 and MN did not indicate end of bullish trend. on monthly chart we are in an interesting zone - 3957 is 50%fib of around 1.604 and 1.184
W1 (since first week July), D1, H4 remain with intact short signals however:
long on H4 is tempting with RSI divergence, SL just below 3388, TP anticipated 3480

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  • #15,606
  • Jul 29, 2014 2:40pm Jul 29, 2014 2:40pm
Quoting 2046
{quote} W1 (since first week July), D1, H4 remain with intact short signals however: long on H4 is tempting with RSI divergence, SL just below 3388, TP anticipated 3480 {image}



Hi 2046,

that seems to be a plan :nerd:

hope all is well :-)
  • #15,607
  • Jul 30, 2014 12:22am Jul 30, 2014 12:22am
http://www.zerohedge.com/sites/defau.../picture-5.jpg
"End Torture," Ron Paul Demands "Shut Down The CIA!"

  • #15,608
  • Jul 30, 2014 1:05am Jul 30, 2014 1:05am
Hi, I mostly trade long term. As in I hold a position while it's still good or 'hot'. Is everyone here a day trader or are there a few position or swing traders?
  • #15,609
  • Jul 30, 2014 2:15am Jul 30, 2014 2:15am
Quoting EuroTrader37
Hi, I mostly trade long term. As in I hold a position while it's still good or 'hot'. Is everyone here a day trader or are there a few position or swing traders?

Hi Eurotrader,

I am doing both as I see fit :-)
  • #15,610
  • Jul 30, 2014 7:32am Jul 30, 2014 7:32am
Quoting Mr. Scott
{quote} {quote} If she wants to play, then we will play. {image}
  • #15,611
  • Jul 30, 2014 7:49am Jul 30, 2014 7:49am
Quoting janpec1000
{quote} Also both AU and GCAD following drawn direction. GCAD down move however is now in question and most likely canceled.
AU down target extended if 9325 gives away.
http://prntscr.com/47stvb


Actually today i think its rather very important day for forex markets. If US data all along day will be bullish, we will see in next few months full USD strenght as its showing from USDJPY and USDCHF technical turnover. Additionally pressure of sanctions and possible war talk gives additional bull pressure on USD.
With that said all X currencies against USD look bearish with big downturns such as EURUSD GBPUSD NZDUSD confirming USD strenght over next weeks or moths.
  • #15,612
  • Jul 30, 2014 7:49am Jul 30, 2014 7:49am
Quoting rbetancor
{quote} Yes ... but all TF's are exauted ... only Weekly have a sligth more down room ... till 1.32-1.30 or even 1.2979 zone ... but a retrace of 100 pips is needed. For this coming morning London open I have that the invalidation level it's 1.3485 ... if that levet get hitted ... low it's in ... and we should see at least a 3W pullback. EU have been going downside while other risk instruments haven't fall ... and they should, as SPX, that it's a equal legs up ... and need a 3w pullback We will have an early retrace, maybe monday London open ......

you see, betting on the belief that a movement is exhausted is a futile thing.

That was the reason I said, that I fear, that the movements could be a series of 1-2 moves. OK, looks more like an ever extending wave 5 so far (which causes here problem).

In the end it was classical: most Ellioticans had suddenly the same believe and looked too early to the upside (me included). One can bet on it: when most Elliotticans agree, something is not right LOL
  • #15,613
  • Jul 30, 2014 7:57am Jul 30, 2014 7:57am
http://www.zerohedge.com/news/2014-0...trading-halted

Naked short selling attack?
  • #15,614
  • Jul 30, 2014 7:58am Jul 30, 2014 7:58am
Infinitus, did you reload at 88 on EU?
A pip is only worth it if you know how much you risked to earn it
  • #15,615
  • Jul 30, 2014 8:08am Jul 30, 2014 8:08am
That's good infinitus.

Due to my busy schedule I only do position trades. Hope that someday I will be wealthy enough to just trade for a living. My new trading style is about 13 days old, prior to that I only did day trading, but now I find it's impossible to stay up to date, due to lack of time. Some trades require a few hours of management where I only have 3 at max.

Hopefully I can give some quality buy sell signals.

Recently exited a long trade in Yen (my account is linked to my profile). May re-enter, because it looks like another long signal just came (position trade).
  • #15,616
  • Jul 30, 2014 8:13am Jul 30, 2014 8:13am
Quoting EuroTrader37
Recently exited a long trade in Yen (my account is linked to my profile). May re-enter, because it looks like another long signal just came (position trade).
Is that Dollar Yen or Yooro?
A pip is only worth it if you know how much you risked to earn it
  • #15,617
  • Jul 30, 2014 8:21am Jul 30, 2014 8:21am
Quoting vlady1974
Infinitus, did you reload at 88 on EU?
Hi Vlady,

have taken another small long @ 3377

but I suspect to see lower levels in the evening


My fault earlier was to neutralize my short positions too early, strongly relaying on the 3408 no business zone and the fact, that many volume distributions showed high tail risk.

The 3408, as well as the 3360 and 3314 are low volume zones, but not really ultra low volume zones. Furthermore, they seem to be only bumps in the road of a bigger distribution, which can easily lead down to sub 1.30 roughly speaking.

So it was kind of silly to neutralize the long term short positions in order to get a bit of a smallish upward movement.

Well, at least on can analyze the faults. Lol
  • #15,618
  • Jul 30, 2014 8:22am Jul 30, 2014 8:22am
Quoting EuroTrader37
That's good infinitus. Due to my busy schedule I only do position trades. Hope that someday I will be wealthy enough to just trade for a living. My new trading style is about 13 days old, prior to that I only did day trading, but now I find it's impossible to stay up to date, due to lack of time. Some trades require a few hours of management where I only have 3 at max. Hopefully I can give some quality buy sell signals. Recently exited a long trade in Yen (my account is linked to my profile). May re-enter, because it looks like another long signal...
If by Yen long exit you mean JPY long exit you made good decision. Quite exciting developments coming starting today, JPY pairs confirming now turn into up direcion, while it looked bearish few weeks ago now situation has completly changed. I think at least 100 pips per JPY pair is first target on up side, but overall it could be much more. All JPY pairs structures confirm rallies on up side. Reasons for up turn are technical backed simply by price structure but additionally by USD strenght which will drive UJ.
  • #15,619
  • Jul 30, 2014 8:25am Jul 30, 2014 8:25am
Quoting infinitus
{quote} you see, betting on the belief that a movement is exhausted is a futile thing. That was the reason I said, that I fear, that the movements could be a series of 1-2 moves. OK, looks more like an ever extending wave 5 so far (which causes here problem). In the end it was classical: most Ellioticans had suddenly the same believe and looked too early to the upside (me included). One can bet on it: when most Elliotticans agree, something is not right LOL
Yes it's futile ... but targets and zones ... are targets and zones ... as 1.3485 was never hitted ... that view was ok ... no 1.3394-1.3372 was my target zone for today ... and we are in .. from here, we should see a 3W pullback to 1.3523-1.35551 zone ... for more downside on daily to 1.3215-1.3173 zone ... but on this pullback to 1.3523 I will not buy ... just wait to add shorts. All this view needs that 1.3705 get intact ... if not ... the whole thing changes.
  • #15,620
  • Jul 30, 2014 8:40am Jul 30, 2014 8:40am
Quoting EuroTrader37
That's good infinitus. Due to my busy schedule I only do position trades. Hope that someday I will be wealthy enough to just trade for a living. My new trading style is about 13 days old, prior to that I only did day trading, but now I find it's impossible to stay up to date, due to lack of time. Some trades require a few hours of management where I only have 3 at max. Hopefully I can give some quality buy sell signals. Recently exited a long trade in Yen (my account is linked to my profile). May re-enter, because it looks like another long signal...
looking forward to read some of your thoughts/analysis
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