Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-299
Hi all
Important level to look at tonight
GBPUSD 1.2386
EURUSD 1.0530
USDJPY 113.87
For GOLD, looks like all of my ideas are wrong, which i was thinking it will go to 1250 level.
So back to the basic, here are the sword-lines
1209.9
1212.3
1214.7
1216.7
1220.3 (important support)
1223.6
1225.8/1227.6
1229.7
1231.4
1234.0 (important resistance)
Worst case scenario is breaking 1220.3, which will completely ruin the uptrend.
And we cannot be positive before breaking 1234 and stay above there again.
I really don't want to do reverse trades, just want to say if you are selling GOLD, just beware of 1234.
And if you are selling, and be aggressive enough, you can probably add shorts on every sword lines above.
Seal half of the profit at 1220.3, and leaving half of the trades to see if it can break 1220.3
Good luck all
EDIT: I don't mean to suggest selling GOLD!
for me, if it go up, i will wait unit it breakthrough 1234.
if it go down, i will start my recovery plan.
this level around 1230 is just at the middle of it, so i will do nothing now
Important level to look at tonight
GBPUSD 1.2386
EURUSD 1.0530
USDJPY 113.87
For GOLD, looks like all of my ideas are wrong, which i was thinking it will go to 1250 level.
So back to the basic, here are the sword-lines
1209.9
1212.3
1214.7
1216.7
1220.3 (important support)
1223.6
1225.8/1227.6
1229.7
1231.4
1234.0 (important resistance)
Worst case scenario is breaking 1220.3, which will completely ruin the uptrend.
And we cannot be positive before breaking 1234 and stay above there again.
I really don't want to do reverse trades, just want to say if you are selling GOLD, just beware of 1234.
And if you are selling, and be aggressive enough, you can probably add shorts on every sword lines above.
Seal half of the profit at 1220.3, and leaving half of the trades to see if it can break 1220.3
Good luck all
EDIT: I don't mean to suggest selling GOLD!
for me, if it go up, i will wait unit it breakthrough 1234.
if it go down, i will start my recovery plan.
this level around 1230 is just at the middle of it, so i will do nothing now
- #243
- Feb 21, 2017 7:05am Feb 21, 2017 7:05am
- | Joined Jan 2014 | Status: Trader | 1,147 Posts
Hi all Important level to look at tonight GBPUSD 1.2386 EURUSD 1.0530 USDJPY 113.87 For GOLD, looks like all of my ideas are wrong, which i was thinking it will go to 1250 level. So back to the basic, here are the sword-lines 1209.9 1212.3 1214.7 1216.7 1220.3 (important support) 1223.6 1225.8/1227.6 1229.7 1231.4 1234.0 (important resistance) Worst case scenario is breaking 1220.3, which will completely ruin the uptrend. And we cannot be positive before breaking 1234 and stay above there again. I really don't want to do reverse trades, just want...
{quote} i cannot guaranteeif you are holding long from 1220 level, just wait and see, and pick an SL on one of the sword-line in case of something go bad if you are not holding long from below, not recommended to add now it's too risky given the unemployment claim data is coming soon but as i said last night, if 1234 is safe, this wave we should target on 1250 level 1225.8/1227.6 1229.7 1231.4 1234 1236.7 1238.9 (we stuck here) 1240.9 1242.7 1244.8 (last high) ... 1253.5 EDIT: USDJPY: 113.87 113.60 113.15
just in case some may forget the important level on USDJPY
last time when we were at 1238.9, UJ was at 113.6
and now we are at 1229.7 when UJ break 113.6
- #246
- Feb 21, 2017 9:12am Feb 21, 2017 9:12am
My explanation is the following: I think it's because of news and low volume so that prices are going back to VPOC of today (price where has the highest volume of today). I use the volume profile indicator shared by Dale to check on the volumes throughout the day.
I still use the sword lines provided by 90strader and using the Volume Profile from Dale to check on the direction it may go. I placed another Sell Limit at 1234, which just got triggered. My guess is that prices may go to 1230.67 because volume in between is still low.
90strader swordlines really give nice entry and closing points. The difficulty is to "guess" where the prices are going.
I still use the sword lines provided by 90strader and using the Volume Profile from Dale to check on the direction it may go. I placed another Sell Limit at 1234, which just got triggered. My guess is that prices may go to 1230.67 because volume in between is still low.
90strader swordlines really give nice entry and closing points. The difficulty is to "guess" where the prices are going.
My explanation is the following: I think it's because of news and low volume so that prices are going back to VPOC of today (price where has the highest volume of today). I use the volume profile indicator shared by Dale to check on the volumes throughout the day. {image} I still use the sword lines provided by 90strader and using the Volume Profile from Dale to check on the direction it may go. I placed another Sell Limit at 1234, which just got triggered. My guess is that prices may go to 1230.67 because volume in between is still low. 90strader...
i think i am going to download it and have a deep look on it
you are so brave to go short @1234
but it is not looking good
hope you had already sealed the profitlook at the SMA 50 in M1 chart, any upward movement we have to wait for that to come up
just beware any sharp upward breakthrough when SMA 50 finally chase back the price
- #248
- Feb 21, 2017 9:45am Feb 21, 2017 9:45am
{quote} the volume profile indicator looks very good i think i am going to download it and have a deep look on it
I do not want to "pollute" your trading journal, I just share my thoughts and hope it can be useful to your trading. Here's the link to the Dale topic:
http://www.forexfactory.com/showthread.php?t=608433
- #250
- Feb 21, 2017 10:02am Feb 21, 2017 10:02am
{quote} I am still on my short, not sure where it will go. To be honest, we are all learning so I just let it go and see how it ends. I do not want to "pollute" your trading journal, I just share my thoughts and hope it can be useful to your trading. Here's the link to the Dale topic: http://www.forexfactory.com/showthread.php?t=608433
i really like to hear others' opinion
please feel free to keep posting your thoughts!
and i am still learning as well and i am not always correct
- #251
- Feb 21, 2017 11:00am Feb 21, 2017 11:00am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-299
- #252
- Feb 21, 2017 11:07am Feb 21, 2017 11:07am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-299
- #256
- Feb 21, 2017 6:58pm Feb 21, 2017 6:58pm
{quote} the volume profile indicator looks very good i think i am going to download it and have a deep look on it
At the moment I have no trades opened as I'm not sure whether I should buy or sell. Maybe I'll look for the retest at 1234 again.
- #257
- Feb 21, 2017 9:33pm Feb 21, 2017 9:33pm
{quote} Just wondering your SL is so far away, are you using a very small leverage?
But in this case that is only trading range 1215 ,, 1225 ,,1235,,1245,,.
Depends on market state of trending which is still buy.
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-299
