Guys, watch the GBPUSD on the daily
Hey guys, I did exit the EURCAD trade, I just had a target set for 1:3 (which is what I aim for minimum ), on that one and I entered in when the price retraced.
I am still long on CADCHF (which I forgot to post up in here oops ), and now silver which has dropped a nice signalā¦
Thatās not very specific. Are you looking for bullish/bearish action, is there a specific signal youāre looking forā¦
+1,000,000 points for mysterious ambiguity.
Good for you DnB, hope you making some pips there, the reason i ask is because i went short yesterday, when PB is formed on daily. Euro getting hammered all over, would like to see pounds getting pound
Keep going CAD, look to reenter on AUDCAD too
Any thought on this? anybody on it too?
The two other bounces from 1.9360 were acompanied by PBs, that one looks like a brutal breakout.
However with such low R:R it worth a try.
Cheers.
Far out Jinz!, you like to trade on the wild side donāt you. GBPNZD is in the middle of heavy consolidation there, are you just trading the touch of the bottom of the support line there hoping it will bounce off it?
That is a pretty wild trade Jinz on GBP/NZD. Not one I would have took (even though I agree it looks to be going up). Mr Candlestick (Steve Nison) states you want to see the wick at least twice the size of the body of the candle. I dont follow that whole heartedly but I do look for the wick to be at least the same size as the body to show rejection. Most candles have a wick on the top and the bottom. Thats all this shows. With the size of the body and its the third retest (I am not counting all the way to the left since I cant see prior price action leading up to the point of the screen shot) typically I see this pattern breakout to the bottom. But since you are on support and assuming previous price action supports it with that kind of R:R it is worth the risk in my book.
Good luck
Yeah thatās wild trade. Will see How it play out. I only risk 30 pips. My SL is at 1.9350, will hold it for 3 days max. Right now itās green, sunday open iāll make it break even to take some risk off.
So i guess nobody on this trade, lol
hey there Scotch,
Ever since the GBPUSD formed that bearish pin on the 21st of September this has been a sellerās market and when i said to watch this pair it was this that I had in mind.
Hereās a chart to illustrate what I mean
when it comes to trading, I tend to lean heavily into the long-term category; Iām looking for those setups that will give me a decisive RR(Iām usually looking for at least 1:3 on most of my trades). As far as GU is concerned, I tend to keep away from it, giving preference to pairs with a little bit less volatility/smoother action. If I were to place a trade on GU, Iād be looking for price to make a clean break out of its current price area, then give a moderate pullback to retest, and maybe drop a bearish signal. Given the way GU tends to move, this is very unlikely to happen.
Some people love taking as many pins as they can find; Iām just not one of those traders. I like to keep my delta as neutral as possible; since this is spot forex, the best way to do this is to simply avoid as many trades as possible.
But then again, thatās just a preference thing. I reserve the right for my own math to make no sense whatsoever.
I agree with Scotch, the GBPUSD does look very weak and there is a bearish rejection candle signal off the mean value signaling moves into higher prices were rejected. The signal is sitting right on key support so if price does break the signal low we could see a significant out break to the down side.
Spotted an interesting Indecision candle on gold, this one sits right on the fence. Breaks lower are preferred but given the recent price action surrounding it, one canāt rule out a possible break upwards.
I somehow got unsubscribed to this thread, I certainly didnt mean for that to happen
Sometimes that happens to me as well, I am not sure why.
Thatās because this thread is CKO-approved; Cool Kids Only.
O_o
Come at me, Blackmore.
Gearing up for a slow grind of a week; spotted a couple of things that could form up in the coming weeks.
EURJPY
EJ has just recently completed a slow-fast MA crossover, and has returned to its overall bearish stance that it has maintained almost completely uninterrupted since Q3 2008(trend seen clearest on monthly chart). Will be waiting for a pullback to the MAs in a few days/weeks in order to enter a position.
EURAUD
EA dropped off sharply in late October, and has shown a strong momentum drive since, giving an inside bar with almost no major pullback, and price already playing off around the sell-barrier area of the mother candle. Over recent history, EA has been notorious for dropping trade signals -just- outside of my usual trade zones, which result in price taking off before I can safely jump on board. Traders that have a penchant for trying to ācatch falling knivesā(I believe they refer to themselves as āmomentum tradersā) may try to make a play on this one. This one is going to give overeager traders plenty of exercise.
First time iām using SSD indicator, it work out pretty great if itās sync with the trend, letās see how far it will drop
Anyone else riding this?
Youāre going to have to explain to us old dogs what the āSSD indicatorā is. Seems like slang for the Stochastic Oscillator.