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  • #6,701
  • Apr 10, 2014 10:40am Apr 10, 2014 10:40am
Quoting EatPIPs
I can't seem to understand anyone who would be thinking of shorting the current market conditions?!
Emotional attachment to the idea which expired day before yesterday! hehehe....
  • #6,702
  • Apr 10, 2014 10:42am Apr 10, 2014 10:42am
Quoting richtrader
{quote} Not sure about the news, but the H4 TF is forming a nice pinbar, hopefully it goes up!
A pinbar formed on the ascent is a hanging man....bearish signal...
  • #6,703
  • Apr 10, 2014 10:48am Apr 10, 2014 10:48am
Quoting waleed.khan
{quote} Emotional attachment to the idea which expired day before yesterday! hehehe....
But shorting could be on the cards to 1310 - 1312 level...? who knows....
  • #6,704
  • Apr 10, 2014 10:54am Apr 10, 2014 10:54am
Quoting waleed.khan
{quote} But shorting could be on the cards to 1310 - 1312 level...? who knows....
Be very cautious when shorting within an uptrend channel. You could get burned very quickly.
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To live a successful life, we must lose our fear of being wrong
  • #6,705
  • Apr 10, 2014 10:56am Apr 10, 2014 10:56am
I'm still in the long on GBPUSD and after a few unexciting hours, I am starting to like what I see on the charts.... GHOST TOWN (dun dun duuuunnnn!!!!)

Price moving in a trend, pulls back but there is no follow through so price stagnates. Usually a prelude to high volatility...

Attachment
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  • #6,706
  • Apr 10, 2014 10:57am Apr 10, 2014 10:57am
Quoting EatPIPs
{quote} Be very cautious when shorting within an uptrend channel. You could get burned very quickly. {image}
Agreed it should break the channel first...

someone who likes to take added risk can perhaps short now...with a strict stop loss above the 4 hr chart high of the previous candle...but its risky!!!
  • #6,707
  • Apr 10, 2014 11:10am Apr 10, 2014 11:10am
Quoting samalmoore
I'm still in the long on GBPUSD and after a few unexciting hours, I am starting to like what I see on the charts.... GHOST TOWN (dun dun duuuunnnn!!!!) Price moving in a trend, pulls back but there is no follow through so price stagnates. Usually a prelude to high volatility... 1404270 {image}
... and for gold, I am not super confident on this one but it's a good RR....

Gold seems to be consolidating in the upper portion of the channel and may break into the channel extension.... this is a brave call guys so PLEASE DON'T TAKE THIS TRADE... unless you happen to see the possibility and are happy with the risk, RR nearly 1:4 so worth the risk to me

Buy gold: Now 1319.8
SL: 1316
TP: 1330

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  • #6,708
  • Apr 10, 2014 11:14am Apr 10, 2014 11:14am
Quoting samalmoore
{quote} ... and for gold, I am not super confident on this one but it's a good RR.... Gold seems to be consolidating in the upper portion of the channel and may break into the channel extension.... this is a brave call guys so PLEASE DON'T TAKE THIS TRADE... unless you happen to see the possibility and are happy with the risk, RR nearly 1:4 so worth the risk to me Buy gold: Now 1319.8 SL: 1316 TP: 1330 {image}
I like it...makes sense (should find suport on 1317 level)

I' gonna wait till it reaches the trendline....
  • #6,709
  • Apr 10, 2014 11:17am Apr 10, 2014 11:17am
Quoting waleed.khan
{quote} I like it...makes sense (should find suport on 1317 level) I' gonna wait till it reaches the trendline....
gold must hold 20 sma on 1 hr tf.....otherwise 1312!
  • #6,710
  • Apr 10, 2014 11:19am Apr 10, 2014 11:19am
Quoting waleed.khan
{quote} I like it...makes sense (should find suport on 1317 level) I' gonna wait till it reaches the trendline....
Why couldn't I wait 1 more minute!!!!
  • #6,711
  • Apr 10, 2014 11:22am Apr 10, 2014 11:22am
Quoting samalmoore
{quote} Why couldn't I wait 1 more minute!!!!
I think the market wnats to correct....stoch should go to oversold somewhere around 1310-12...
  • #6,712
  • Apr 10, 2014 11:26am Apr 10, 2014 11:26am
Quoting samalmoore
{quote} Why couldn't I wait 1 more minute!!!!
exactly the same here ...hope it s gonna be back there
  • #6,713
  • Apr 10, 2014 11:29am Apr 10, 2014 11:29am
Quoting waleed.khan
{quote} I think the market wnats to correct....stoch should go to oversold somewhere around 1310-12...
Yeah I feel like the market wants to correct, but the demand should still be there - still hope for 1330 just could've had a much better entry....

Anyway, we'll see what happens....
  • #6,714
  • Apr 10, 2014 11:33am Apr 10, 2014 11:33am
Quoting samalmoore
{quote} Yeah I feel like the market wants to correct, but the demand should still be there - still hope for 1330 just could've had a much better entry.... Anyway, we'll see what happens....
Some good resistance...pic will be clearer on 1 hr candle close...
  • #6,715
  • Apr 10, 2014 11:34am Apr 10, 2014 11:34am
Quoting kirkland
{quote} exactly the same here ...hope it s gonna be back there
I know the feeling!
  • #6,716
  • Apr 10, 2014 11:37am Apr 10, 2014 11:37am
Quoting samalmoore
{quote} ... and for gold, I am not super confident on this one but it's a good RR.... Gold seems to be consolidating in the upper portion of the channel and may break into the channel extension.... this is a brave call guys so PLEASE DON'T TAKE THIS TRADE... unless you happen to see the possibility and are happy with the risk, RR nearly 1:4 so worth the risk to me Buy gold: Now 1319.8 SL: 1316 TP: 1330 {image}
When you place SL 3-4 $s away, you have to be a super genius with tons of patience to achieve perfect win rate OR better place SL 15 $s away. One can always play light.

The more you use leverage the more you look like a gambler in a casino. Wish you all loads of patience and wisdom! Have a nice one you all.
Hello World!
  • #6,717
  • Apr 10, 2014 11:43am Apr 10, 2014 11:43am
Quoting ClockTrader
{quote} When you place SL 3-4 $s away, you have to be a super genius with tons of patience to achieve perfect win rate OR better place SL 15 $s away. One can always play light. The more you use leverage the more you look like a gambler in a casino. Wish you all loads of patience and wisdom! Have a nice one you all.
very wise.... its all about waiting for the right setup... and mitigating risk
  • #6,718
  • Apr 10, 2014 11:46am Apr 10, 2014 11:46am
Quoting waleed.khan
its all about waiting for the right setup... and mitigating risk

+ controlling greed
  • #6,719
  • Apr 10, 2014 11:51am Apr 10, 2014 11:51am
i opened 1319.4 with TP at weekly ressistance at 1343 and SL support at 1307. Gold is bullish and will go in the direction of EUR/USD slowly.
  • #6,720
  • Apr 10, 2014 11:54am Apr 10, 2014 11:54am
premature signs market might be heading up..pin bar on 15 min...but still wait for 1 hr close...for direction...
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