Technically Fundamental
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oct 07 and jan 09 level was spat back and cable 150 was rejected again. I cant see anything lower than this atm although I did have a target of 1168
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oct 07 and jan 09 level was spat back and cable 150 was rejected again. I cant see anything lower than this atm although I did have a target of 1168
grimweasel
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Yep, I see the levels old boy; but I only take a trade at the level if I get a good PA sign to get in (hammer, BUEB etc) not just because there may have been a minor bounce off that level; I'd prefer to let a trade go in this case.
I would never go long one pair based on the direction of another either. If cable looks like a short, based on its chart, then I'd short that - not look for another pair to go long as not all correlations work all of the time.
It maybe just me, but I've found it's always best to trade a pair on its own merit and not that of another - sure, it may help in your decisions but that policy alone is far too risky for this callsign!
first screen My sight...second screen my friend system.....regression analysis
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Technically Fundamental
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Looks okay on the daily if you like to hold on but I wouldnt take it either mate.
Also, I was just saying I think at the mo cable is a decent indicator of strength of the dollar across the board. Not saying a tool to guage and directly rade another pair.
grimweasel
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Cool - thanks for the charts. It wasn't a trick question, just interest - I'm out on the daily TF so for me there's nowt there yet!!
trader_dante
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It wasn't free money Friday for those traders selling stock indices after all (I didn't end up short)...
Gold came home though...very interesting move here...I'm still long...
I've pulled my Aud/Usd short order now as the highs were taken out overnight...
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N Rothschild
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thought we were going to the lows, or we going higher again now?
trader_dante
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I thought we were going down too - keep expecting the next down leg to begin...as soon as I throw in the towel and get bullish, that will probably be the top.
Still, despite what I think, I'm not trading the Dow at the moment. I was short FTSE and took 70 odd ticks last week but closed it even though there was a daily pin forming. Bullish sentiment seems too strong...so I'm standing aside as I'm not keen on being a buyer.
My opinions (or calls) are usually wrong. My trades rarely are.
I know that sounds arrogant but it is, nonetheless, true.
elitejets
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Gold was neat trade, congratulations!
I wonder if these gold and dollar moves are to do with the stress tests, lot of talk of that here.
N Rothschild
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surely if it was free money friday you would have been in on it..?
Technically Fundamental
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Genics you n*b head! I just***** myself pants watching that youtube vis in your sig.
N Rothschild
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i think it sums up quite nicely what the markets are like..
trader_dante
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This quote from Goose summed it up quite well.
I'm not trying to cheat anyone. As I've stated several times, I like to voice my opinions liberally but I trade like a sniper and I follow my setups regardless of opinion.
I honestly feel that Gold is going to tank at some point. So why am I long? Because the market told me to be long. It gave me the same setup I've been teaching on here for well over a year now.
And it's not a case of "going long but telling everyone on here it's going down so that I am right either way".
You're not "right" if you call a move but you don't make a penny on it or worse, lose money.
You're an ars*hole.
Opinion doesn't count for sh*t - all that matters is whether you made or lost money.
Anyway, a quick roundup of the setups called on "Free Money Friday" lol (if you had taken them all)
Aud/Usd: Never Triggered
Cable: Never Triggered
Dow: 195 tick LOSS
Natural Gas: 341 tick GAIN
Gold: 234 tick GAIN
TOTAL: 308 tick GAIN
That's the other thing I'm trying not to do now, cherry pick my setups!
Just take all the markets you trade that setup. Forget correlations as Grim said and forget not having enough money - just cut your size on each of the positions accordingly...diversification often saves the day as above
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man looks like its heading up long also
tom
that is a bull flag on the dailys yes? gold looks to be heading to break the upper channel line
regards pat
firewalker99
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+300...
we are running into some resistance here around 8340, so don't jump on the longs now... time to scale out I think.
N Rothschild
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firewalker im looking 8435 either today or tomorow.
looks like all my bull videos where right eh
looks like all my bull videos where right eh
immm or have i spoke too soon looking at the 1H
grimweasel
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Genics, Firewalker,
Fair play -well read on those indicies! Let's see what the Banks' Stress-test announcement does.
Pulled my audusd and nzdusd shorts too - highs taken out of S/Stars - so, no trade.
Looking back at gold, should have been long from 1hr pin back on 1st May - plus 1hr dbl bottom. Second chance to get back in today on the retrace into the H4 20ma.
Fair play -well read on those indicies! Let's see what the Banks' Stress-test announcement does.
Pulled my audusd and nzdusd shorts too - highs taken out of S/Stars - so, no trade.
Looking back at gold, should have been long from 1hr pin back on 1st May - plus 1hr dbl bottom. Second chance to get back in today on the retrace into the H4 20ma.
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ilplusq
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EURCAD and EURAUD Daily
EURCAD: price is at a MAJOR SR pivot, rejected and formed a pinbar on the Daily chart. If a reversal is to take place, there is a lot of room to go. Next station 1.6203 (1.5776 would have to be broken for the pin to trigger). 1.6375 is the second target.
EURAUD: price has hit 1.7990 support level for the third time. If it bounces, targets are 1.8498 / 1.9004/ 1.9483. There is a confluence with 61.8 fib (see 2nd chart) but I think it is far fetched. This is a weaker setup in my mind, the price seems to be trying to go lower.
Could we be setting up for a Free Money Monday on these two? 1/2 hour to the candle close. Please comment.
EURCAD: price is at a MAJOR SR pivot, rejected and formed a pinbar on the Daily chart. If a reversal is to take place, there is a lot of room to go. Next station 1.6203 (1.5776 would have to be broken for the pin to trigger). 1.6375 is the second target.
EURAUD: price has hit 1.7990 support level for the third time. If it bounces, targets are 1.8498 / 1.9004/ 1.9483. There is a confluence with 61.8 fib (see 2nd chart) but I think it is far fetched. This is a weaker setup in my mind, the price seems to be trying to go lower.
Could we be setting up for a Free Money Monday on these two? 1/2 hour to the candle close. Please comment.
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grimweasel
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Quiet here this morning? Must be no set-ups today ;-)
FWIW this could be the final steam blowing off of the indicies - I'm patiently waiting to get short - I may consider long FTSE though at circa 7000 though
I can't get the biggest sucker-set up ever out of my mind - unless of course all those frugal types who stashed money away before the 'great crash' have come flooding back to the market? (China et al)
Grim
FWIW this could be the final steam blowing off of the indicies - I'm patiently waiting to get short - I may consider long FTSE though at circa 7000 though
I can't get the biggest sucker-set up ever out of my mind - unless of course all those frugal types who stashed money away before the 'great crash' have come flooding back to the market? (China et al)
Grim
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