Goldmine! - page 40
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The Candle That Started It.
Hello Traders,
Here is my view of the EU at the moment. Red arrow shows the candle that started the fallout. Notice where it happened to be...hmm.
Drew in green "What-if" fork as price has not yet confirmed convincingly an upward burst. Let's see what price will do today, if anything.
Take care,
FX4Newbies
P.S. Tomorrow is Thanksgiving Day in the U.S. Big holiday.
Has Anyone Noticed...?
Has anyone noticed the big runs in price that seem to occur just before or after a major holiday in the U.S.? Just look at this week and the last holiday a few weeks ago? Were they by chance or scheduled (planned and timed)? Mmm...
Everything in trading is tied to life in the real world. Trading is just a mirror of it. Currencies are that mirror for those who trade FX. We need to see price action in that context. Then things can begin to make a little more trading sense. If you ignore context (current price action in relation to previous price behaviour) even in your technical analysis, you will find yourself being stopped out quite a bit. Train yourself to pay attention to the whole picture.
Take care,
FX4Newbies
P.S. Happy Thanksgiving (Turkey Day) to U.S. traders.
Hello Traders,
Here is my view of the EU at the moment. Red arrow shows the candle that started the fallout. Notice where it happened to be...hmm.
Drew in green "What-if" fork as price has not yet confirmed convincingly an upward burst. Let's see what price will do today, if anything.
Take care,
FX4Newbies
P.S. Tomorrow is Thanksgiving Day in the U.S. Big holiday.Well traders,
Just posting a follow-up chart. Price did not do much of anything...stayed within the green "What-If" fork (except for a quick pop once). Lots of wash and rinses around the ML.
Be very careful those of you who feel as though you "must click".
FX4Newbies
Trading Against A Computer?
Price is still trading in what I want to now call the "Holiday Fork". Wonder if someone left their trading system on autopilot and went to enjoy the holiday weekend. No problem with it...just know that if that is the case, might not be an easy way to gain some pips. Nice touches on the fork though.
FX4Newbies
Holiday Trading Over?
Well...,
We got a break to the downside. Candles even seem to have some more "meat" to them. Hit L-MLH and WL intersection. Will have to get confirmation of next direction.
FX4Newbies
Weekly Chart Wrap-Ups On The Blog
Enjoy!
Take care,
FX4Newbies
Cascading Lower?
Price has been making lower highs and lower lows. Just be prepared to do whatever price confirms that it is doing.
FX4Newbies
P.S. Sorry I missed the post yesterday. Same chart, but price was at the intersection of the two MLs around 1.3165.
Good To Be Prepared
Hello again traders,
Price moved down very little yesterday after chart was posted, then began to turn upward. Might continue to push. News to come though...just trade what you see as you see it. Always allow price to speak first...
Take care,
FX4Newbies
Price Trying To Climb
Hello Traders,
Price has been trying to climb. A promise of resistance above. Will see if it can push to at least that high. News to come.
FX4Newbies
Price did make it to the blue resistance line on Non-Farm Payroll news. Will have to see what changes, if any, the market will implement now.
FX4Newbies