i see it this way
the wedge was broken before were should have been your entry
also 4h chart give dopple top, you could expect more drop
so you just entered before 4h resistance. that is a big mistake
4h chart
always look at the bigger picture in the higher TF
here we have 2 resistance and a wedge
still we dont know were its going, if the trendline holds you can be good but exit if it would be broken
thats how I see it. never know what market does
Ok GBP pairs made decent retracement on up side which now gives bullish news opurtunity to restore bullish trend, just as well as it does bearish news chance to break lower. So this time we are good positioned ahead. Meanwhile lets see EUR climb higher.
Quickly updated important sr lines that have to be taken for valid trading after claimant counts:
Screenshot by Lightshot
Screenshot by Lightshot
Quickly updated important sr lines that have to be taken for valid trading after claimant counts:
Screenshot by Lightshot
Screenshot by Lightshot
Darn nothing to trade, mixed news release for GBP. Damn. Well now we can trade possible downward trend on GBP if it comes.
Time to buy Gold ?
This article sums it up what i was saying on session about gold rally. Lets see a battle between China and Wall street. We know that WS can throw billions into paper short positions on gold, the question is can India and China cover those shorts with positive income in same capital under physical gold. Its basically battle between “who can throw further”.
Gold’s Irresistible Forces (And Why It’s Going Higher) | Investing.com
okey guys I wont to show you how I make some scalp. Its a mix of jans system with some other things (excuse me jan).
here we got bearish news on GU. later we got a small wegde.
I was looking for support and pivots. After drop I entered and set SL over resistance (which was before support) and set target a few pips over pivot S2. BB middle line was still falling, MACD true was falling. 3 trendindicators were red, stochastic was falling. so all good
traget hit
In the first chart there is an obvious break of low. So why do you need so many indicators to know to sell?
true, it give me more confidence. well the pivot gave me the perfect TP. after it went straight up.
Probably nothing later for FOMC news maybe bit spikes up and down.
ive just enter gbpaud it seems a good idea because it has bounce from previous support zone http://snag.gy/vHJeS.jpg
Woah now that was complete surprise on CAD news, massive spike on GCAD, on pretty much medium impact news. There were 3 great swings to catch but only on M1, for together of over 60 pips. Missed all. Caught EJ long for 30 pips, holding AU long for 5, lost 10 pips on gold after my SL it moved in way of trade, my SL was placed wrong ofcourse. Lets see what comes on EU, looks like 1.38 attempt.
GBPCAD now 250 pips up
pleeeese dont tell me nobody catched it ??
I was following chart till NY open after it i havent opened, and there it went 100 pips on GBPCAD. This was easy 50% missed, darn thing was that it was missed by very dodgy news.
Year old but very good video explaining FED and other parasite organisations.
that was great
hey we were recently discussing what pairs are good for beginners. I was asking myself what pairs have not so many fbo or clearer swings. look at this video, it will answer many questions
Liquidity, Price Action and Trading - YouTube
Liquidity, Price Action and Trading
Yeh thats all pretty straight forward, the more agressive the swings and moves are on pair the lower is liquidity therefore the power is bigger. Which means that Gold ofcourse is best example, along with Bitcoin and GBPAUD. EU and GU are on opsite spectrum with biggest liquidity and therefore smaller and more precise movements as he calls them. But that is pretty much obvious since the day one you look on charts.
As for cleaner swings and fbos the rules do not apply at all. If it would be that easy i would say so from the start. High liquidity pair does not mean that there are much less fbos or especially does not mean that swings are more clean, its oposite actually lower liquidity makes better swings. So its really no perfect balance on what to strike, what you can draw it down to is:
If you want to have more trading oportunity and have more risk in trading aswel trade low liqudity pairs too, if you dont need that or dont want that then simply stick to forex main pairs such as EU and GU.