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  • #6,681
  • Apr 10, 2014 6:05am Apr 10, 2014 6:05am
Quoting Iraniatrader
{quote} Sorry friend I'm a beginner in forex, I need help about finding the new and the exact time that they can effect plz guide me... Whats the news? how can I find it? is the effect of that on Gold too? THANKS
Hey mate, the first thing to know about news releases is they are dangerous!!! Price often whipsaws killing lots of people on both sides, and sometimes the price just goes the opposite way to which way it should move based on the news.

You can find out when and which news is coming up from the Forex Factory home page. They also tell you what is expected and what effect the news should have.

Different news will affect different instruments.

The news now was UK interest rates which were unchanged and asset purchase facility - how much money they are "printing" (quantative easing) - also unchanged
  • #6,682
  • Apr 10, 2014 6:09am Apr 10, 2014 6:09am
Quoting Iraniatrader
{quote} Sorry friend I'm a beginner in forex, I need help about finding the new and the exact time that they can effect plz guide me... Whats the news? how can I find it? is the effect of that on Gold too? THANKS
If you want to trade the news there is an EA available free called amazing EA version 3
  • #6,683
  • Apr 10, 2014 6:10am Apr 10, 2014 6:10am
Quoting samalmoore
{quote} Hey mate, the first thing to know about news releases is they are dangerous!!! Price often whipsaws killing lots of people on both sides, and sometimes the price just goes the opposite way to which way it should move based on the news. You can find out when and which news is coming up from the Forex Factory home page. They also tell you what is expected and what effect the news should have. Different news will affect different instruments. The news now was UK interest rates which were unchanged and asset purchase facility - how much money...
I think the news is released becoz the makret is reversing and I'm in lose :-(
  • #6,684
  • Apr 10, 2014 6:13am Apr 10, 2014 6:13am
Quoting eklein
{quote} If you want to trade the news there is an EA available free called amazing EA version 3
I wanna use news as a signal...

thanks, how can u find the EA...?
  • #6,685
  • Apr 10, 2014 6:16am Apr 10, 2014 6:16am
Quoting Iraniatrader
{quote} I wanna use news as a signal... thanks, how can u find the EA...?
just google it but it comes from someone in forex factory Cheers
  • #6,686
  • Apr 10, 2014 6:36am Apr 10, 2014 6:36am
I found this thread very usefull for me. Hope i can learn more from this thread.
Price Action
  • #6,687
  • Apr 10, 2014 7:09am Apr 10, 2014 7:09am
Quoting Iraniatrader
{quote} I think the news is released becoz the makret is reversing and I'm in lose :-(
Oh no, sorry about that - I warned you it was risky! I'm still holding onto this one (although you should cut it if you don't feel comfortable!)

It does look like it's not gonna workout but the fat lady has not yet sung!

Where is your SL on this trade? Or how much are you willing to lose?

There is more news coming out in 20 minutes, if unemployment claims are more than forecast we could still go up

There is a chart pattern here that indicates a possibility of a breakout, it's called descending broadening wedge... (This pattern is usually fairly good but normally in the middle of the yearly price range, not right at the top as we are now)

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  • #6,688
  • Apr 10, 2014 7:14am Apr 10, 2014 7:14am
Quoting gotri
I found this thread very usefull for me. Hope i can learn more from this thread.
I too like this thread and find it useful gotri

Good luck to you!
  • #6,689
  • Apr 10, 2014 7:17am Apr 10, 2014 7:17am
Quoting samalmoore
{quote} Oh no, sorry about that - I warned you it was risky! I'm still holding onto this one (although you should cut it if you don't feel comfortable!) It does look like it's not gonna workout but the fat lady has not yet sung! Where is your SL on this trade? Or how much are you willing to lose? There is more news coming out in 20 minutes, if unemployment claims are more than forecast we could still go up There is a chart pattern here that indicates a possibility of a breakout, it's called descending broadening wedge... (This pattern...
I have Long order on Gold now and waiting to hit the 1324, and Short on USDCHF that bot of them are in lose i dont know I should wait or not...!
  • #6,690
  • Apr 10, 2014 7:26am Apr 10, 2014 7:26am
Yeah it hit the 1324... I think it will retrace then... who r agree with me???

And I'm waiting 4 USDCHF...!
  • #6,691
  • Apr 10, 2014 8:13am Apr 10, 2014 8:13am
hello all ...
gold seems retrace good ... i catch the sell on au better than gold past hrs.... hope every one trade safe not see any thing keep watching ..
not jump soo fast ....
best of luck
  • #6,692
  • Apr 10, 2014 8:47am Apr 10, 2014 8:47am
After the stops are taken out, gold most likely to head south to test 1300 level again, with strong support around 1305-1307 area. First, the algos have to do their thing, but today's U.S. UE claims-even if revised upward-support fundamentals for lower gold prices.
"The market can remain irrational longer than you can remain solvent"
  • #6,693
  • Apr 10, 2014 8:52am Apr 10, 2014 8:52am
Hi IraniaTrader,

You seem to be new trader. I've read some of your posts and just had to say something.

If you want to become a successful trader you'll have to be confident enough to make decisions yourself.

Quoting Iraniatrader
Yeah it hit the 1324... I think it will retrace then... who r agree with me??? And I'm waiting 4 USDCHF...!
  • #6,694
  • Apr 10, 2014 8:59am Apr 10, 2014 8:59am
Quoting manforlove
hello all ... gold seems retrace good ... i catch the sell on au better than gold past hrs.... hope every one trade safe not see any thing keep watching .. not jump soo fast .... best of luck
hi i have to give it a go sl will be manage see if it goes
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up
  • #6,695
  • Apr 10, 2014 9:45am Apr 10, 2014 9:45am
IMHO Gold on sell objective 1308, any opinion friends.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #6,696
  • Edited 10:01am Apr 10, 2014 9:48am | Edited 10:01am
Gold pulling back off this 61.8 extension completing the crown formation target, would look to take shorts from 1322.00 for a retrace. Any thoughts?

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Attachment
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  • #6,697
  • Apr 10, 2014 9:58am Apr 10, 2014 9:58am
Quoting uncletrumpet
{quote} HERE COMES OUR CELEBRITY!!, hoorayy...welcome back
I was never gone dude. I'm not a celeb, just like any one of you.

Quoting ClockTrader
{quote} Well said mate. While it may continue to climb, but, it doesn't make sense to buy here. Yet, if anyone wants to, trade very very light.
PA has been in line with my view. If price can fly through 1324 today or tomorrow, higher highs can be expected.
Hello World!
  • #6,698
  • Apr 10, 2014 10:10am Apr 10, 2014 10:10am
Quoting caldera
Hi IraniaTrader, You seem to be new trader. I've read some of your posts and just had to say something. If you want to become a successful trader you'll have to be confident enough to make decisions yourself. {quote}
best advice ive read all day
  • #6,699
  • Apr 10, 2014 10:11am Apr 10, 2014 10:11am
I can't seem to understand anyone who would be thinking of shorting the current market conditions?!
To live a successful life, we must lose our fear of being wrong
  • #6,700
  • Apr 10, 2014 10:34am Apr 10, 2014 10:34am
Quoting samalmoore
{quote} I don't have a target, I will see how it travels for the next few hours.... I prefer to get in a little bit earlier so if it does reach that point and pull back, I'm still in a little profit. To me PA looks like it will reach 1.68 so that's what makes this trade quite risky, no great technical setup... However, news at 12:00 will probably be exactly as forecast, not much room for change on this. There's virtually no chance of worse figures, but on the very small chance that the news is better than expected, we will push up through this resistance...
Not sure about the news, but the H4 TF is forming a nice pinbar, hopefully it goes up!
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