Stubborn GU..still stuck between daily open and daily pivot...

now where did i put my patience pill...

This post has been edited by jigon: Jan 6 2011, 02:41 PM

any insider information?..rushing up or down?

bad news for GBP..

just lucky enough to manage my SL to +30 pips 10 min before the news come out..otherwise it would be a disaster for me..

calling it off today..hoping for better opportunities tomorrow..

G/L to everyone

trade GU with loss yesterday.. +80 pips ended with -30pips..greedy me..

but saw opportunity to sell again this morning @5570.. price @DP(5549) right now..let see how this goes..

G/L to everyone..

Cheers

stopped at BE..

not my kind of trade these past 2 days..calling it off for today..

G/L everyone

Cheers

uj down from daily open..au up from daily open..still green pips for me for both currency..


if you are good at predicting, just carry on..if not then, trade what you see..


cheers.

This post has been edited by jigon: Jan 19 2011, 12:15 PM

i don't understand..meaning your chart have different candlestick for different session?

guys, need help on MT4 platform..

my daily candle open/close time has been change to 12.00 am local time.. how do i change it back to normal time(which i believe it's 6.00 am right?)

making my fib level indicator haywire

Cheers

We don't buy gold from Poh Kong..we buy jewellery

1 pip = 0.0001 = 10USD

yes, you are buying 100,000 GBP with USD currency ie. 150,000 USD

but what you see in GBP/USD denomination is actually already convert to USD

example;

1.5000 GBP/USD => in 1 lot -> 150,000USD = 100,000 GBP

let say the market move by 2 pips,

1.5002 GBP/USD => in 1 lot -> 150,020 USD = 1000,000 GBP

hope it help..

Cheers

because the neckline act as support level as per fxplayboy and scarface explained...if the neckline breaks, it confirms the double top formation, if it didn't break then, the double top formation is not valid..

that's why the babypips advised to place order after the neckline breaks, to confirm the validity of the double top formation..

cheers

This post has been edited by jigon: May 12 2011, 04:32 PM

always open trade with reasons..you sell because you see a double top formation..what are your reasons for buying back?


the lowest point reached before it started back up is called support..hence where the neckline is drawn..

cheers

There are a lot of ways to trade...what i mean is you should have some indications/reasons on why you should buyback(closing the trade). let me give some example why you should close the trade

1. You already met your target
2. You are entering another support zone which price will bounce back from that area
3. Trendline broken, crosses of moving average, rsi below certain level bla bla bla..(seriously there are a lot of reasons to think of, just pick the valid one)

I'm not that experience in candle chart pattern formation trading style...not my trading type actually, very hard to detect the formation in reality..only experienced trader can 'see' the formation..and practically a double top formation does not show frequently on the chart..you will be lucky if it happens once in a week..i still cannot see a double top formation in G/U Daily TF since may 2010!!

support means that the price will likely bounce back when they reached at that area..

cheers