But we are facing today so far a market that wants to consolidate and we can have a lot of false signals. Take care.
Doesn't look too good for that:
Gold (?) has taken EURUSD up today. It has made a high at 625,65 so far and EURUSD at 1,2822. A lot of shorts have been smashed. That's the play when people like to bet.
Nice point of entry of your gold long, Zunis.
AUD is effected mostly by gold....
Australia is one of the biggest gold producers in the world.
Not much gold in Europe
Yes, as CAD. But, when GOLD goes up, you'll see that EURUSD tends to go up too. Look at it a few weeks and then just tell me if I'm right or wrong.
This does not mean I'm not going to trade EURUSD if I see GOLD is not moving. But I like to look at it, like at Oil.
Some say that when GOLD is going up, people sell $ and go to somewhere else.
BTW, cable has given us another lesson, specially to those that say "if eurusd is going up, cable is going up". I always stress that this is not true and that we should always look at EURGBP.
Should we trade catfx50 tomorrow, a USA holiday or not? Thanks!
Ok, you've seen how it was today. Tomorrow, it could be worst. But you never know. In my case, I'll be ready to trade at 08:00cet till 12:00cet.
well you can trade it, but there will be very little liquidity. Of course, this all depends on the big money movers. If some london dudes deside to sell or buy in the gazillions, well then...
Nina what happened on Cable yesterday between 17-19 cet ??
I seem to have different ideas about the entry points on a level 4. I'd like to share them with you and try to see what the differences are.
We had news and we had a rush. Level 4 buy on EURUSD (16:00cet) @ 1,2798.
It made a high at 1,2822 so far.
Ok, so this one I see the high previous high being the 13:00cet candle @ 1.2808 add 1 pip for the break and you have an entry point @1.2809. The high was @1.2822 only 11 pips (-2 pip spread). Considering that it didn't hit the 15 pip target that would have been a -34 loss when the price dropped during the 17:00cet candle.
I'm not sure why we have such different entries on that one. How did you figure the 1.2798 entry?
On USDCHF, level 4 sell @ 1,2239 (16:00cet). Made a low so far @ 1,2218.
Ok, so first thing is: I didn't really see any 'consolidation' period on that one. the three candles before were moving nearly 20 pips each in high to low range. That (to me) doesn't signal consolidation.
Secondly, I'm not sure how you got the entry point @1.2239 -- the low for the Europe session at that time was the 8:30cet candle @1.2225. If that was the entry point, then it would have played out as an entry point @1.2224 - that would mean that when the pair reversed during the 16:30cet and the 17:00cet candles, it would have hit a S/L point for another -34 pips
On GBPUSD, level 4 buy @ 1,8445 (16:00cet). Made a high so far @ 1,8472
For this one, I read the high during the previous 3 candles to be @1.8441 - so, maybe you are talking about that one (and adding in the 4 pip spread?) so that you get an entry of 1.8445?
Sorry for the questions, but I really want to understand how the process works in your mind to determine the Lvl4 entries.
AUD is directly connected with gold and CHF is more sensitiv to gold then EUR