Entry from last week.
perspective
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Entry
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Still short from .786 daily. Reaction or continuation ?
DU
Duane
Rep: 100
Posts: 1,095
Kicking off.
Entry from last week.
perspective
Entry
Still short from .786 daily. Reaction or continuation ?
Entry from last week.
perspective
Entry
Still short from .786 daily. Reaction or continuation ?
DU
Duane
Rep: 100
Posts: 1,095
EURUSD still unclear, must break .0821 and .0780 to be clear, I suspect a retracement is due.
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Click image for original size
MA
MarcinO
Rep: 67
Posts: 5,506
I am having similar second thoughts about Cable. It stopped just below 1.27 on Friday and reversed nicely, but I wonder if they will send it up again before a more substantial downward move.
RA
rat89
Rep: 0
Posts: 7,015
interesting charts. Here are a couple of mine: gdx, gld, jpm
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Click image for original size
DU
Duane
Rep: 100
Posts: 1,095
Nice Charts Rat, you are my gold savant . Likewise Marcin with cable, you have got it going on, as my son would say! I am however, a longer term trader. Not smart enough to duel with you guys intra day. But, back in the day, when the Russell was rocking, and the ES was good for 20-40 or more point PER DAY, I could sit and wait for an excellent set up, maybe one or two a week and ride that baby to fruition. Jim always went where the " ACTION " as he would cal it was. I like to trade volatile pair, but with discretion, waiting for them to come to my level, the best of the best set ups, and hit them hard. That said, If I was day trading FOREX today, I would look into GBPNZD. The ADR is over 200 pips and it is very predictable. Loves 112.8 and .685. Using Jims advise and trading with CONTEXT you will be good.
The example that I have here is on the 4H , I know, not exactly day trading, but If you go lower the results are the same. Once this puppy starts trending, you can trade it with a MA pull back. Anyway, you can see that it was in a range, wave 4 taken in context. Went down and got all the shorts, and started to move up strongly. The down move completed an expanded ABCD. Then retraced to .685 at at the median line and did not look back for 900 pips. Where did it stop? 200% of the initial up move, and the extended fork. Where did it start? 1.272 of the down move. Just put it on your radar Marcin. It is a Daytraders dream. And long term traders retirement pair!! Just my 2 cents worth, keep GBPNZD on your radar! Good hunting Bro!!
The example that I have here is on the 4H , I know, not exactly day trading, but If you go lower the results are the same. Once this puppy starts trending, you can trade it with a MA pull back. Anyway, you can see that it was in a range, wave 4 taken in context. Went down and got all the shorts, and started to move up strongly. The down move completed an expanded ABCD. Then retraced to .685 at at the median line and did not look back for 900 pips. Where did it stop? 200% of the initial up move, and the extended fork. Where did it start? 1.272 of the down move. Just put it on your radar Marcin. It is a Daytraders dream. And long term traders retirement pair!! Just my 2 cents worth, keep GBPNZD on your radar! Good hunting Bro!!
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MA
MarcinO
Rep: 67
Posts: 5,506
Yes, Duane, GBPNZD pair is outstanding these days!
Thanks for pointing my attention to this pair and good luck to you, too.
Thanks for pointing my attention to this pair and good luck to you, too.
