The term pip is used for more than Forex, but specifically in the Forex markets, since currency pairs can and are traded to the fifth decimal point, that your broker limits you to four doesn't change the fact larger brokers do trade to five. The ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

GBP/AUD — If you draw a trend line from the GBP/AUD Sep/Oct peaks and draw a parallel line from the Sep low, we have just passed through the support line which coincides with points of support/resistance going back to June 2011 as well as ...

Cable Update (GBPUSD)

I think GBP/AUD is a better set-up.

Elliot wave, Harmonic And Ichimoku in CHINESE STYLE

No, the fifth decimal place is not greyed out and is completely tradeable to me and most people who don't use a discount broker to trade Forex. The definition of a pip I posted has been a defined financial term for decades dating back prior to the ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Ideally, yes, but I got out around 1.02750 and unfortunately I never got back in. I suppose it would be fair to say I do a lot of contrarian trades, going short when others go long and vice versa, primarily to challenge myself. That's probably not ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Technically, a pip is the smallest tradeable unit of movement any stock, commodity, or Forex item can make. In the case of Forex, the predominance of discount brokers limiting trades to four decimal places (I can trade to five) has made 100 pips ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Interesting. I'm shorting from 1.038 as I believe it will bounce either at 1.0385, the 50% retracement of the ~1.06-~1.015 channel it's been in since August, or at 1.04 which, aside from being a psychological level, is intersected by a line ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Yes, and it was annoying on many Forex pairs as well.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I love forks, but sadly the software from my broker (Interactive Brokers) doesn't support them (nor Fibancci extensions nor all sorts of other standard technical tools). Fortunately the free spot charts do, but it would certainly be nice if they ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

$1756 is the 38.2% retracement of the pullback to $1730 and also right in the middle of where Dec GC rested on the way down, as well as where it bounced yesterday which is why I'm looking at it. Jim Wyckoff agrees with you saying $1777 is more ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

just above $1800 is the trigger — Here's part of an article re: why gold was pushed down at $1800 (not that everyone doesn't already know the fuse gets lit at $1800). url

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Waiting for $1755 to be retested — Both US and Euro gold bounced off support so now I'm waiting to see what happens at $1755 again. Here's some food for thought from the Moneychanger. url

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I'd like to see 79 cleared then retested as support before I go long USD/JPY, otherwise I'll wait for 78 to be revisited and go long from there (though generally speaking there are better pairs to trade).

USD/JPY Discussion

I'm reading Dec GC resistance at $1755 as rejected with minor support at $1749 is now being tested. Euro spot is simultaneously retesting major support at €1333 and I will be short or long Dec GC pending a confirmation move in either direction.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

No sooner had I posted that gold hadn't broken yesterday's high than it went ahead and closed above yesterday's high. If it breaks the 38.2% retracement which coincides with a minor resistance level at $1756 spot price I'll have to concede that the ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

US gold failed to reach yesterday's high despite the falling US dollar and Euro gold fell yet again. Daily RSI has fallen below 50 for the first time since Dec GC broke above $1620 in August and it has not broken bearish RSI trendline resistance. ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Yes, but I'm in Ontario, so I'm in EST but I've always preferred nights to days since I was little. That works out very well for trading as most of the action (at least so far as setting up positions) takes place at night and early morning when the ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

The DailyFX live analyst David Song (not my favourite DailyFX analyst to be sure) kept repeating his answer "We don't," to people repeating the question over and over again "How do we trade this news?" Looking across all the pairs, et al, if there's ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

It looks like I should have held onto my short positions because that was obviously not a bounce, but on the bright side, that drop confirms the long-overdue correction is definitely underway. Hopefully the European session will present a good ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

This first leg of the correction worked out fine for me. I exited my gold short at $1754 for a very nice profit, plus some relatively profitable shorts in EUR/USD, GBP/USD, AUS/USD, AUS/NZD (and a few other pairs along the way) despite my foolish ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread