Goldmine! - page 34
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Where Are We Now?
Hello again,
I see the Euro gave a nice spike earlier. Was in time to catch the end of that move up. Looks like it is in the middle of some ranging action. Will be watching for price to tell where to next.
FX4Newbies
Weekly Chart Setups
Hello again,
Just wanted to mention...
Apparently there was a technical difficulty with the charts being visible even though they were posted. Became aware of it earlier today. It is now resolved.
My apologies for the inconvenience of that issue.
FX4Newbies
Eur-Usd pre News 9-22-10
Hello again,
Had a long day yesterday...now coming to
Here is an interesting setup. Price at WL with U-MLH below. News out shortly. Good place for support: either at WL or U-MLH (as switchback). Thinking bullish. By the way, these WLs are from a fork above.
Be careful,
FX4Newbies
A Mentoring Lesson
Hello again,
Experienced some trading scenarios today that I had not had for moons. Posted the chart above this morning. After posting, I noticed that price had actually cleared the low at 1.33492 (the light blue line). That means that the market had already begun to display downward momentum, though the longer time-frames were showing some bullish sentiment. Should have drawn a downward fork first. Red arrow indicates the candle I entered on with a long position, which was actually positive for a few pips.
After I entered this trade, caught clear bearish sentiment (per my entry method) on M15 out of the corner of my eye. Thought that maybe the bullish sentiment would kick in. There were two attempts to push upward after the news, which only helped to take price south for a minute...more like a few hours LOLOLOL. Still in this trade. If I have to surrender some pips, then I might as well learn something, right?
Will keep you posted. A revised chart is attached. I need to make notes to myself on this one for sure. Need to throw out this trading skeleton...thought it was long gone
.
Take care,
FX4Newbies
Mentoring Lesson Continued: The Outcome
Well traders,
Wanted to share the completion of the experience that began yesterday morning. Closed the trade earlier today with a profit. I held the trade for two reasons:
1. I saw bullish sentiment on H4 when I placed the trade. I also went back and read what I had written in the post that morning...
Hello again,
Had a long day yesterday...now coming to
Here is an interesting setup. Price at WL with U-MLH below. News out shortly. Good place for support: either at WL or U-MLH (as switchback). Thinking bullish. By the way, these WLs are from a fork above.
Be careful,
FX4Newbies
Believe it or not, I stuck with it because of what I saw in the chart. Price came exactly to green U-MLH, found support and turned. I was hoping price would find support at the WL earlier, but the market sentiment was down and news pushed it further. Also I had not drawn in the red fork.
2. I have been told that it is good training to allow yourself to hold the trade to experience the swings from a negative P/L to a positive one. Builds emotional muscle. So, I figured I'll give it a shot since I'm in it already, nothing more to lose. If it's a loss, then it's a loss. Normally I would be gone, but I decided to put myself to the test. I guess I wanted the experience more than the cash .
Because I stuck with my analysis that was confirmed, I was able to come out with some pips in my pocket. The Lesson: Be confident about what you know about the method you are using. If you have reason to enter the trade, then hold on until you see reason to let it go.
Hope this helps someone. Your thoughts would also be welcomed.
Take care,
FX4Newbies
P.S. I guess now the skeleton's shadow is thrown out.
+120 Pips On Signal Yesterday
Hello Traders,
Gave this signal yesterday morning:
Pair: Eur-Usd
Trade: Buy
Price: Around 1.3360
Stop Loss: Cash - Per your system
Take Profit: 1.3480 or 1.3510
Comments: Confirm your entry.
First target was just hit.
Take care and have a good weekend.
Price Trying To Push...
Good Morning to all,
Price had a little sell off and is now trying to push. In an area of resistance. Will it make green ML target? Short green and red lines are from signal on Thursday. Price in the area of the first price target.
FX4Newbies
A Ranging Market
Thus far, things have been on a "roll"...just rolling around
. Coming up on noon EST when things can get slow. Price also at L-MLH of green fork. No solid confirmation. May have to buy some time.
Take care and be careful,
FX4Newbies
Price In A Battle
Good Morning to all,
Price in a battle zone. Resistance at red U-MLH and above as well. Price also parked at green ML. Will see who wins this one...bulls or bears.
Take care,
FX4Newbies
Hello again,
Here is a signal from this morning:
Pair: Eur-Usd
Trade: Buy
Price: Around 1.3470
Stop Loss: Around 1.3455 or a cash stop per your system
Take Profit: Around 1.3540
Comments: Confirm your entry.
Details are posted on the blog.
Take care,
FX4Newbies
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