Spider's Den | Page 1061 | Forex Factory

Options

Go to
Permalinks
Print Thread
Attachments: Spider's Den
Exit Attachments

Spider's Den

  • #21,201
  • Edited 6:56am Mar 26, 2015 6:31am | Edited 6:56am
Quoting guguxpto
{quote} got 20 thanks T
You are welcome!

Quoting Sants
waiting for GDP in the next 25 hours. GDP number will make sure the daily support will be the place for bounce or break. USD kicked so hard in this 2 weeks {image}
Exactly, which can be used for further shorting.
  • #21,202
  • Mar 26, 2015 7:17am Mar 26, 2015 7:17am
Quoting T@rantula
{quote} Excellent fundamental analysis. Well done, keep it coming!
No worries!

Gold
A perfect environment for Gold is as follows:
- Low interest rates (check),
- High Equities prices (check),
- Uncertainties (Greece default, Yemen bombings, etc - check),
- Rising inflation (possibly on the way).

Gold is still in a downward trend channel, refer below chart, and I see it heading below USD1100/oz at some point in the near future.

HOWEVER, Gold began a retrace upwards following Yellen's speech (18 March 2015), as she gave gave an indication of delays to the US Fed rate hike (Equities soared at the same time).

Gold looks to be trading in a range that is lowering, this range is roughly: USD1300/oz at the upper, and USD1100/oz at the lower. Breakout to either side will see momentum in that same direction. I still prefer to take Short positions, particularly end of week/end of month and during NY session open.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 39 KB
  • #21,203
  • Edited 11:36am Mar 26, 2015 8:47am | Edited 11:36am
Quoting T@rantula
USD initial jobless claims came better then expected and that put the pair into retracement mode in NY session. Prior to that, USD experienced a strong sell off because of that USDCAD dropped perfectly following the techs. DAX was also down 2 % and US equities were pretty high and it needed a correction. That also lead to drop in USDCAD pair. Now we see a retracement in the form of V shape reversal and 119.20-119.40 region might give a resistance. There is a confluence of previous buyers/now moment sellers, 61.8, L3 and intra week trendline. Little...

119.00 hit now! 20-25 pips now. This is the first support, needs to close below for 118.80 and 50
  • #21,204
  • Mar 27, 2015 12:39am Mar 27, 2015 12:39am
Hi T, how you trail the stops? You use automatic or manual trealing stops? My order everytime make some pips but then go back to BE where I'm kick off from trade and after that (very often) it goes straight to my TP..
  • #21,205
  • Mar 27, 2015 1:05am Mar 27, 2015 1:05am
lets see if it breack´s this chanel finaly i´m waiting a log time for this one more step waith for the right time to entry ; )
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp.png Size: 54 KB
Scalping
  • #21,206
  • Mar 27, 2015 1:31am Mar 27, 2015 1:31am
Quoting x46x
Hi T, how you trail the stops? You use automatic or manual trealing stops? My order everytime make some pips but then go back to BE where I'm kick off from trade and after that (very often) it goes straight to my TP..
Thats always very subjective. I usually wait for 12-15 pips profit then i opt to either move SL to BE or wait for another hour to see how the trade will develop. In the case where the trade is 20 pips in a profit but it's facing a strong sup or res, i move my SL to BE+15.

Occasionally i may wait 1-3h for the trade to get in a nice profit first. If it initially gives the profit e.g 1-15 mins after i opened the trade, that means that momentum is high and I will protect my profits after app.15 pips either by moving SL to BE or SL+ xxx.
  • #21,207
  • Mar 27, 2015 3:35am Mar 27, 2015 3:35am
Quoting guguxpto
lets see if it breacks this chanel finaly im waiting a log time for this one more step waith for the right time to entry ; ) {image}
20 pibs and out slowly groing the acount thanks T break retest entry on retest on 1h 7320 out at 7300 round number and y´m driving to madrid so y put a fix stop
Scalping
  • #21,208
  • Mar 27, 2015 5:16am Mar 27, 2015 5:16am
Quoting T@rantula
{quote} Thats always very subjective. I usually wait for 12-15 pips profit then i opt to either move SL to BE or wait for another hour to see how the trade will develop. In the case where the trade is 20 pips in a profit but it's facing a strong sup or res, i move my SL to BE+15. Occasionally i may wait 1-3h for the trade to get in a nice profit first. If it initially gives the profit e.g 1-15 mins after i opened the trade, that means that momentum is high and I will protect my profits after app.15 pips either by moving SL to BE or SL+ xxx.
This is a valuable info to them who is trading particularly this strategy very particularly intraday traders. Dont take this just as another post. Pay attention and take note.
  • #21,209
  • Mar 27, 2015 5:26am Mar 27, 2015 5:26am
Quoting x46x
Hi T, how you trail the stops? You use automatic or manual trealing stops? My order everytime make some pips but then go back to BE where I'm kick off from trade and after that (very often) it goes straight to my TP..
Hmm, and what's your conclusion based on those data/experience/pattern then? What T answers doesn't matter much, he has his style that fits him..you obviously have your unique style, your patterns and obviously you spot what you spot..so what do you do with this information?
If SL at BE would kick me out and that would be pretty much the pullback and than back into TP..then I'd consider moving that SL by couple pips away so I give the move room it obviously needs. But hey, that's just me.

Trading is about awareness, spotting patterns in the charts, price but especialy in oneself and the way one trades. That's why it's difficult to just copy somebody..you gotta do your homework, observing you and your style and shift what you don't like, what doesn't work and find and implement that what works. And then rinse and repeat..
Markets wispers, just tune in.
  • #21,210
  • Mar 27, 2015 5:48am Mar 27, 2015 5:48am
Quoting kalyan
{quote} EURUSD: Trapped in a triangle and showing bullish moves without breaking the FOMC high. 0940 broke and resisting the price. But today could confirm the short term direction. I am bearish with target of 0710. But if it attacks 1090,1350 is next.
I may short EU at 1005 as a scalping trade, if it comes there. But 0942 is a immediate hurdle. But below 0942 still I look for 0710
  • #21,211
  • Mar 27, 2015 5:59am Mar 27, 2015 5:59am
Quoting plukin
Trading is about awareness, spotting patterns in the charts, price but especialy in oneself and the way one trades. That's why it's difficult to just copy somebody..you gotta do your homework, observing you and your style and shift what you don't like, what doesn't work and find and implement that what works. And then rinse and repeat..
Quoting kalyan
This is a valuable info to them who is trading particularly this strategy very particularly intraday traders. Dont take this just as another post. Pay attention and take note.
Quoting x46x
Hi T, how you trail the stops? You use automatic or manual trealing stops? My order everytime make some pips but then go back to BE where I'm kick off from trade and after that (very often) it goes straight to my TP..
I can agree with you guys. Managing the trade is pretty subjective and it depends on a lot of factor including your own psychology, feel of the market rhythm, particular intra day momentum, sudden spikes, pending news etc. So you need to develop your own Trade management style and adopt it. Once you are in the profit though its easier to manage right?
  • #21,212
  • Mar 27, 2015 6:10am Mar 27, 2015 6:10am
Quoting T@rantula
{quote} {quote} {quote} Once you are in the profit though its easier to manage right?
No... Its definately not easy. Atleast I could not do it till so much of time. I even suffered loss on my profitable trades. Later on time taught me and your webinars helped me. from then I strictly follow after 20 pips SL=BE. If I kicked out I ll take a better entry.
  • #21,213
  • Edited 6:54am Mar 27, 2015 6:43am | Edited 6:54am
Quoting kalyan
{quote} No... Its definately not easy. Atleast I could not do it till so much of time. I even suffered loss on my profitable trades. Later on time taught me and your webinars helped me. from then I strictly follow after 20 pips SL=BE. If I kicked out I ll take a better entry.
Hahha, i meant its easier from psychological point. You know that u can't lose once you are in the profit right? Its up to many factors how u manage it.
  • #21,214
  • Mar 27, 2015 6:58am Mar 27, 2015 6:58am
Quoting T@rantula
{quote} Hahha, i meant its easier from psychological point. You know that u can't lose once you are in the profit right? Its up to many factors how u manage it.
100% agree.
  • #21,215
  • Mar 28, 2015 8:08am Mar 28, 2015 8:08am
IMO, USDCAD will go up in several days ahead. Reasons:

1. Thursday bar touched the daily support (red line) and bounce back approximately 60 pips (rejection of daily support).

2. Friday bar retrace to 1.2471 and rejected again<<a visit for 1.2471 confirmed that daily bars support lines totally rejected and bounce back.

However, Friday's pump is really huge pullback, pumping price almost 140 pips. Now price will targeting daily resistance again at 1.2645. With Fridays reaction, i think 1.2645 will be passed easily as bear drop the price from 1.2835 to 1.2409 (approx. 400pips) in 8 days, but bull pull up the price by a half of it (200pips) by one day. This is showing that bull power is really in streoids and ready to pump higher.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB
  • #21,216
  • Mar 28, 2015 8:15am Mar 28, 2015 8:15am
EU Daily Bar. i would say for another down leg for EU in upcoming weeks because of reasons:
1. Thuesday Bar formed quite wide range of high/low and potentially become a motherbar for upcoming inside bar. Price hasnt touched the post FOMC high, but its at supply zone. This time, bear sign is too low, unconfirmed yet.

2. Wednesday Bar formed an inside bar, bull get lack of power to break the FOMC high yet bear get lack of power to slam the bull, still no valid signal to short from here although in the supply zone as thuesday, moreover an inside bar is a bar without confirmation of anything (neutral)

3. Thursday Bar bounced at the key resistance (FALSE BREAKOUT) FOMC high at 1.1037 up to 1.1052 and fast enough to formed unperfect bearish engulfing bar. This day, the odds for bear is quite strong. Im planning to sell at 1.088x or thursday's close (1.0854), but the very strong confirmation for the bear if the EURUSD visit 1.094x - 1.095x.

4. Friday Bar started with consolidation in Asian session but before London open, price touched low of the day (1.0800) but cant fall further anymore. Im waiting price for visit 1.094x - 1.095x for confirmation and before London close, price bounced back to 1.09xx.

As expected for daily bars, took a short at 1.0930 SL 1.0963 TP open. GoodLuck


http://www.forexfactory.com/attachme...1&d=1427513094
  • #21,217
  • Mar 28, 2015 8:37am Mar 28, 2015 8:37am
Sants
I dont think that you place trade on right time. Because EU price can move up again and i am sure it will retest price 1.1000 and then we can take decision that we should BUY or Sell with EU.
I think price will move up and can back to sell at 1.1137 resistance
  • #21,218
  • Mar 28, 2015 8:50am Mar 28, 2015 8:50am
Quoting our4link
Sants I dont think that you place trade on right time. Because EU price can move up again and i am sure it will retest price 1.1000 and then we can take decision that we should BUY or Sell with EU. I think price will move up and can back to sell at 1.1137 resistance
what makes you so sure? any chart?
My decision on short at 1.0930 based on what i learned for daily candles technique as i mentioned above. One thing makes me wonder it will go up again is because fridays forming pin bar, but a pin bar in the middle of no where (not in key resistance or key support levels is just a noise and not a valid signal for reversal). Hence, so far so good for bear. Couple of terms have been ticked for bear to continue the leg down at least to 1.0650 - 1.0660. Goodluck
  • #21,219
  • Mar 28, 2015 8:53am Mar 28, 2015 8:53am
1.1120-1.1140 is price where EURUSD will go down and seller can sell from this point. And price also touch fibonacci retracement 61.8 at this point.
So i am sure price will go down .
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 26 KB
  • #21,220
  • Mar 28, 2015 8:56am Mar 28, 2015 8:56am
Sants
Price will sell at fibonacci retracement 61.8 level....
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 30 KB
0 traders viewing now