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  • #11,481
  • Oct 3, 2011 10:20am Oct 3, 2011 10:20am
Quoting Wheels
I don't mean to seem nit-picky, just like to clarify my own understanding.

The significance of that candle is absolute, but the terminology I still question.

The real body should engulf (not just the highs and lows) according to the best and most reliable sources I could find.

Believe me, I'm not trying to disagree with the directional shift or argue. I just want to know where you learned about engulfing patterns based on highs and lows. Perhaps I can learn something here.

Cheers
yeah based from what i read too about engulfing candles... it's about the body engulfing the previous candle
  • #11,482
  • Oct 3, 2011 10:26am Oct 3, 2011 10:26am
IMO if it's a bearish outside bar then the open doesn't matter that much, the upper wick can engulf the previous bars. The close however is important. From my experience outside bars need to have strong closes in the direction you want them to go.

In this case Razor is pointing out the sheer size of the bar and the location (extreme high) which should not be ignored.

*Disclaimer* I'm no J16 senior but I'm a lifetime PF member if that counts for anytning. J16 is how I trade as well :d
Anything can happen.
  • #11,483
  • Oct 3, 2011 10:30am Oct 3, 2011 10:30am
in at 1648 (short), looking for 5 pips. my baby pips...
  • #11,484
  • Oct 3, 2011 10:50am Oct 3, 2011 10:50am
Quoting whatfx
in at 1648 (short), looking for 5 pips. my baby pips...
With a 5 pip tp, where is your sl?
  • #11,485
  • Oct 3, 2011 11:00am Oct 3, 2011 11:00am
Quoting Wheels
With a 5 pip tp, where is your sl?

i dont have a sl. i have a long position still open remember (well, half of it anyway).

i have a provisional sl in mind of 1667. hopefully should get the 5 pips before then,,,,


happy trading, iam off for now..
  • #11,486
  • Oct 3, 2011 11:16am Oct 3, 2011 11:16am
Quoting SunTrader
Especially in a down trend but how do you come up with 6%. That would mean it would have to hit approx 1740 to equal a 6% move. Besides 3,4,5% either direction is not on heard of nowadays. So what is 6%.
i just threw a number there to say it is up by ~2% and that is enough

unless you get some news or data that are very significant and unexpected, you won't get a high raise ... so 2% is fine

im bullish now, im expecting a bullish trend
fundamentals say bad times are coming so ill only sell gold if i see a sell off after greece defaults (it might not default if they print enough euros)
  • #11,487
  • Oct 3, 2011 11:25am Oct 3, 2011 11:25am
Quoting khan101
level to watc 1645.52 = 100 day moving average
No indicator tells you what to do bro..
  • #11,488
  • Oct 3, 2011 12:02pm Oct 3, 2011 12:02pm
Quoting whatfx
i dont have a sl. i have a long position still open remember (well, half of it anyway).

i have a provisional sl in mind of 1667. hopefully should get the 5 pips before then,,,,


happy trading, iam off for now..
close it now and save some pips
next asian market guaranteed it touches 1667
  • #11,489
  • Oct 3, 2011 12:19pm Oct 3, 2011 12:19pm
Long opened @1556 SL On a confirmed Bear signal TP none for now
  • #11,490
  • Oct 3, 2011 1:15pm Oct 3, 2011 1:15pm
Quoting GoldenDude
i just threw a number there to say it is up by ~2% and that is enough
Oh so you just made up a number. But it wasn't 2, it was 6.

Now I know how to read your posts.
  • #11,491
  • Oct 3, 2011 1:23pm Oct 3, 2011 1:23pm
Quoting khan101
Long opened @1556 SL On a confirmed Bear signal TP none for now
How exactly do you open a long on a bear signal. Is there a typo somewhere in that post?
  • #11,492
  • Oct 3, 2011 1:29pm Oct 3, 2011 1:29pm
Quoting SunTrader
Oh so you just made up a number. But it wasn't 2, it was 6.

Now I know how to read your posts.
please re-read as you are the one misunderstanding

Originally Posted by ddinnov
"1660 is turning out to be one tough nut to crack.."

my reply "you cannot expect gold in one day to raise 6%"

i even explained to you, gold at that point was up by ~2%

it is pretty clear in my opinion...
  • #11,493
  • Oct 3, 2011 1:40pm Oct 3, 2011 1:40pm
Quoting SunTrader
How exactly do you open a long on a bear signal. Is there a typo somewhere in that post?
he is waiting for a bear signal to put a stop loss
  • #11,494
  • Oct 3, 2011 1:47pm Oct 3, 2011 1:47pm
Quoting Firsh
he is waiting for a bear signal to put a stop loss
Ok then it is mystery why he went long at that point. No movement higher and broke thereafter downward.

So I guess he got his bear signal.
  • #11,495
  • Oct 3, 2011 1:50pm Oct 3, 2011 1:50pm
Hi fellas

Im planing short gold,looks like we have huge volume
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  • #11,496
  • Oct 3, 2011 1:56pm Oct 3, 2011 1:56pm
Quoting SunTrader
Ok then it is mystery why he went long at that point. No movement higher and broke thereafter downward.

So I guess he got his bear signal.
Lol hehe

I opened a long will close if i smell bears again .eg a big red 4 hour or some pattern . right now according to my research its slightly bullish
  • #11,497
  • Oct 3, 2011 2:06pm Oct 3, 2011 2:06pm
Quoting khan101
........ right now according to my research its slightly bullish
Well what I was getting at was - based on what?

If you don't care to share your reasons, which is ok if that is what you want, then why tell us you are entering a trade at all.
  • #11,498
  • Oct 3, 2011 2:07pm Oct 3, 2011 2:07pm
Will see at-least this channel for S.L and for T.P really don't have n idea right now . so this may be a multi day trade. I cannot set small stop-losses in these conditions
  • #11,499
  • Oct 3, 2011 2:11pm Oct 3, 2011 2:11pm
Quoting SunTrader
Well what I was getting at was - based on what?

If you don't care to share your reasons, which is ok if that is what you want, then why tell us you are entering a trade at all.
yea you are right i forgot to put those charts on

1st reason i believe this channel gona hold
2nd a decent daily bull candle
3rd Asian session is bullish right now
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  • #11,500
  • Oct 3, 2011 5:10pm Oct 3, 2011 5:10pm
Quoting GoldenDude
close it now and save some pips
next asian market guaranteed it touches 1667
Already closed it at 1653. For a loss of - 5 pips. Iam not a risk taker. Sad that the scalp didnt work. Will try 5 pips scalp again tomorrow...! Long at 1643 still open..sl at b.e.
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