Nicely done Bernardo.
Closed +200 pips. Everything played like we talked in sessions. Gold did go a lot on upside even that it was already severly up from previous week, as there were no PA signals for top. GBP also strenghtened.
Screenshot by Lightshot
those were opened possitions that u play on friday trading news?
XAGUSD +20pips BE SL but it looks like is going down http://snag.gy/TTztL.jpg
Yes its possible to see some sort of retracement.
i think gold also has enter on a downtrend channel
I wouldnt go that far there are no PA signals yet for going down.
im seeing some lower lows. on m15.for trend confirmation what we should see? 3+ times confirming the resistance and support lines of the new trend maybe?
statistically gold like to go up over weekend until monday 4am GMT (maybe 8am). that i backtested over 3 years
possible wedge on AUDJPY http://snag.gy/elLu2.jpg i guess this wedge is happening from stop losses that have been triggered from traders than are running to save their position? if that is the case then i shouldn’t except a breakout as the market is already tired. am i thinking right?
damn i lost the news trading on audjpy, it was a good opportunity
Wedge should be broken on up side.
why if i may ask? im asking in order to learn how the market moves
Well we have presence of higher lows and quite a press on resistance. Also daily TF is completly in bullish phase, PA also confirms it. Additionally all other Yen pairs are in bullish phase therefore what to expect.
wegde in gold, also pressing to upside
Wedge in gold is not proper wedge and therefore does not give any significant signal due to too weak structure of lows and highs that form it.
this way of thinking works on every pattern?
For sure CDrosos.
when i check all the Yen pairs for the same phase, i should look om daily tf?
Jan whats your opinion about the book master the markets by tom williams(smart money, supply demand and how it affect the market)? do you believe is a must read for traders? do you use the principles in your trading?
trading bounce of gold: http://snag.gy/73Y5u.jpg
why i enter: bullish treng overall on gold, stoch on os, blue line of ichi touched, ao on possitive value. it seems a very good entry, let’s see how this goes
EDIT: seems like i was in a harry with this one, next time i should wait for more confirmation but overall it might not be a bad entry
I have a question about how we identify in which direction a pair is trending. Sometimes I get confused, because it seems like a pair is trending in a different direction depending on which chart I look at. A good example is the USD/CAD pair right now. If I look at the daily chart right now, there appears to be a clearly defined uptrend. If I switch to the hourly chart, there appears to be a clearly defined downtrend. In this case, which direction would we say the pair is trend is in?
AUD spiking on news (bullish), with trend(s). Starting to pullback on M5 stochastic, time to test it live.
Jan…question? When you say 50 pip minimum on news, do you mean on full range of spike (high to low) or 50 pips above price before news? AUD is covering 50 pips on the full range but only about 30 to 40 above price before news.
Thanks
Probably better to wait on M15. I took strong signals on M5 (short EURAUD, 2 on long AUDJPY) and am very quickly sitting at -22 -18 and -14. Not sure what I missed in that session but I did not expect the this kind of loss.
