Would you recommend getting into this trade or waiting for a new signal? Thinking of jumping into EUR/USD tomorrow would love some advice. Cheers shane
@mcullaghshane21 Iām running a risk free trade at this point. I took half out +200 pips. With that said, as long as the SW signal is in place thereās no reason for me to exit unless my S.L. is hit.
2 Likes
Hey J, you are moving your stop loss to ensure you capture some alpha, rightš¤
The Ever AlphaLicious VIPER
2 Likes
Buying the pullback in hind sight would had been a good entry, I am not seeing anything to tell me this move is over
1 Like
Yes indeed! In most cases, stop gets moved every 100 pips or a major support level
1 Like
Ok great, that avoids turning a profit into a loss.
The Ever Interested VIPER
1.1800, is the number to watch, Jan of 2018 was the last time it was at this level on the daily. My view is to wait for a base above 1.800, then check the structure, and hit it hard. But who really knows, thatās why itās called āSPECULATIONā. Oh yeah, draw a trend line from May '11 to the current price, on a weekly fractal, any longs would be long term counter trend.
The Ever Speculating VIPER
how come gold is rising in corona fear all over world. Who the fcukk still buying at the top. Or something wrong with USD.
MUMBAI/NEW DELHI (Reuters) - Indiaās gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.
The worldās second-biggest consumer of the precious metal imported around 11 tonnes of gold in June, down from 77.7 tonnes a year ago, the source,
3 Likes
Hey mak. Because soo many in the West are expecting this to become an extinction event, and āYou will be able to barter Gold when it all blows upā. Uhhhh yeah, ok.
So we have two sides of buying, the āG.Bā, (think goldline) Gold bugs, buying because, āAhhhhhhh the end is nearā. You also have the pure speculators, who see irrational exuberance and profit from the short term panic.
By the way first 4 hr candle to open above 1.1800, might have a base forming.
The Ever Eating A Huge Plate Of Home Made Nachos VIPER
3 Likes
or this is simply āInflationā as a result of printing Trillions in new dollars out of thin air, Gold and Silver cost more because the Dollar is worth less, same can be said for the reason the stock market is near record highs, all those new Trillions have to go some where.
3 Likes
Top Trade EURUSD is at its high of the day and closing in on 400 pips, We can print money here too
2 Likes
Hope you guys weathered the drawdown
1 Like
GBPUSD, GBPCADā¦ Multiple positions since 27thā¦ GBPUSD No.1 trade for 31stā¦
Long ride to the Northā¦790+ pips with more upsideā¦ itās not over just yetā¦
3 Likes
hi, how do get colorfull lines in currency in excel.
New Top Trade as GBP races to the top spot, EURUSD finishes the week with a new high before pulling back with what could be a reversal. Markets are moving, make sure you stay on the Strong side
2 Likes
can you add silver to this as Silver has been out performing gold for a few weeks now
1 Like
@Dennis3450, I tested this a few weeks back (after @Makneelās original post) to see if it has any real world trading significanceā¦
While it can be usedā¦ It really has to be formulated with the quote currency (say USD, CHF, EUR) to give Metals, Gas, Oils etc. movement inside the matrixā¦
The other issue is unless your broker offers multiple Silver and Gold pairs ie: XAUEUR, XAUCHF, XAUAUD, XAUJPY etc. (fortunately my Broker does) It is of limited value when applied to a strategy.
The high percentage the high value of these pairs generate has to be addressed in some way as well, which is the reason these pairs need to be calculated against itās quote currency.
@makneel, your concept is outside of the box thinking, fantastic to seeā¦ 
Do not follow the crowdsā¦
1 Like
Hey @makneel, I have a graphics application that I cut and paste either Dennisās matrix or my matrix into where I am able to overlay with notes, lines, formulas etcā¦ I release completed months of Dennisās data overlaid with the currencies ātelltale tracksāā¦ See Hereā¦
Offers a proactive approach when applying Limit or Stop positionsā¦hence my trading inside the graphā¦
Editā¦ GBPJPY should be next No.1 tradeā¦
2 Likes