- #12,566
- Oct 29, 2014 1:58am Oct 29, 2014 1:58am
Well, The day of longing 1.2058 and exiting 1.2062-64 have sadly come
Can't find where are the 10 pips to profit in this pair. If measured bt. high and low then okay but actually rarely to find EC move that 10 pip from bottom to top, considering spread too!!
It is usually at best 5 pips since EC moves from middle to top once or twice then goes to the bottom price and stays all day there moving 2-3 pips!!!!
Trading according to current market conditions, there is no gain from EC other than 3-4 pips on Super Heavy Lots and many entries/exits
Holding a long on this area is stupid when can enter/exit in that profit range. Sure if there's lets say positions at some 1.2070s, never close at least not before price goes in profit as usual
I have open positions at this level, this is why have no worries of any intervention if it ever happens, still have open positions always running with no take profit price
While enjoying many trades for small profits despite it's really disturbing especially when waiting for lets say 4 pips and it goes like 2 pips profit some 5 times!!!!
Besides, technically the bearish trend is ON with more lower highs and lower lows or at best fixed lower lows near 1.2050 that's still holding for now, maybe FOMC will either break it or spike this pair upward for 1.2090 possibly!, that is a normal option to get out of this nonsense movement.
Really mysterious how this pair moves well from 1.2090 to 1.2115 for many 7-10 pips while goes stall at better long level.
Proving me right once again that the market many times moves in ABSURDITY, at least this surely applies on EC!!!
Can't find where are the 10 pips to profit in this pair. If measured bt. high and low then okay but actually rarely to find EC move that 10 pip from bottom to top, considering spread too!!
It is usually at best 5 pips since EC moves from middle to top once or twice then goes to the bottom price and stays all day there moving 2-3 pips!!!!
Trading according to current market conditions, there is no gain from EC other than 3-4 pips on Super Heavy Lots and many entries/exits
Holding a long on this area is stupid when can enter/exit in that profit range. Sure if there's lets say positions at some 1.2070s, never close at least not before price goes in profit as usual
I have open positions at this level, this is why have no worries of any intervention if it ever happens, still have open positions always running with no take profit price
While enjoying many trades for small profits despite it's really disturbing especially when waiting for lets say 4 pips and it goes like 2 pips profit some 5 times!!!!
Besides, technically the bearish trend is ON with more lower highs and lower lows or at best fixed lower lows near 1.2050 that's still holding for now, maybe FOMC will either break it or spike this pair upward for 1.2090 possibly!, that is a normal option to get out of this nonsense movement.
Really mysterious how this pair moves well from 1.2090 to 1.2115 for many 7-10 pips while goes stall at better long level.
Proving me right once again that the market many times moves in ABSURDITY, at least this surely applies on EC!!!
Trade according to current market condition, not what you think would be.
- #12,567
- Oct 29, 2014 2:03am Oct 29, 2014 2:03am
{quote} thank you for your reply Gold Referendum = BS what is mean by BS? Regards Muhammad Mudasir
Muhammad, that's an abbreviation of a very polite word that needs a lot to figure then never post on a forum
Trade according to current market condition, not what you think would be.
- #12,576
- Edited 12:30pm Oct 30, 2014 12:19pm | Edited 12:30pm
{quote} why would they buy it here ? the floor is at 1.2 not 1.2050 it doesn't make any sense that they are buying here, so someone else is buying, and for sure not retail
- #12,577
- Oct 30, 2014 1:02pm Oct 30, 2014 1:02pm
{quote} If someone is buying then they have found someone that sells just as much and a tad more.
I am confident the floor will be removed IF the SNB has to back the CHF with 20% gold.
I am not confident enough the YES will win at the referendum to go short. But I was long more than 20 lots not that long ago, and I felt the risk was enough to get out.
Oh yes, Switzerland's economy has to be "saved" ?
If CHF becomes the only gold backed currency on earth these days, do you imagine the buying pressure there will be on it ?
Maybe the SNB hopes a NO at the referendum, and I expect a lot of propaganda to try to make the Swiss vote No.
If YES, they can be as determined and "credible" as you want, gold isn't unlimited.
I am not confident enough the YES will win at the referendum to go short. But I was long more than 20 lots not that long ago, and I felt the risk was enough to get out.
Oh yes, Switzerland's economy has to be "saved" ?
If CHF becomes the only gold backed currency on earth these days, do you imagine the buying pressure there will be on it ?
Maybe the SNB hopes a NO at the referendum, and I expect a lot of propaganda to try to make the Swiss vote No.
If YES, they can be as determined and "credible" as you want, gold isn't unlimited.