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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 18, 2011 19:11
the wedge looks like a classic bull flag imho. If true it will trash the 1834 or 1838 levels.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Aug 18, 2011 19:05
that 4hr has 2things going on 1)bullish triangle which broke out price projection-1838-1880 but2)is testing the top to my bearish wedge which is being respected atm..so do we give way to the importance that the triagle has broken out and wedge is least important?thanks gl:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 18, 2011 19:03
anything making new all time highs is difficult to analyse and make projections. No historical patterns and pivots to work with up in space. Your best guide for gold is to watch behaviour of stocks which is currently inversley correlated (the fear factor). Gold is trading on safe haven insurance when stocks are crashing at mo.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Aug 18, 2011 18:54
i was looking at the daily this morning and saw a lot of tech reasons that supported my short call. so i went with it:(..but now i have my oco in place either i get paid or im out @ b/e..ok thanks gl:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 18, 2011 18:49
no prob Chloe, but never forget I can be wrong sometimes :-)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Aug 18, 2011 18:44
ya u right on my fading:(..im looking to cover:)..last time i didnt listen to ur advice on $chf i paid a short term price but managed to get all back +make a nice profit but when i was down i was freakn out..thanks for being the voice of reason to me:) gl/gt:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 18, 2011 18:41
After several years of fading you will realise that trading is less painful catching trends and attempting to stay with the trend.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 18, 2011 18:39
I dont see any reason to short gold, next logical target at 1895. many are talking of 3000 levels for the longer term :-) If you had targeted 1834 the 127% ext ret of the last swing down, that would make more sense.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Aug 18, 2011 18:37
then theres the side of me saying smash/grab on 10-15buk drops lol:)..thats one part of me i constaintly struggle with..trying to figure out how i want to play my positions..long/medium/short term lol:(..last night i covered my eur$shorts @14425-14500..locked in money but chart was saying price was moving lower.but with the day/day volitility who knows .ok gl/gt:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Aug 18, 2011 18:31
hey dave, ya i know hes only messin around:)..i took a short on gold @ 1828.65 pretty close to the high:)only 4 contracts..i put my s/l @ b/e:) figure it was worth a shot..i tried earlier @1820 but my b/e stop was hit:( so i decided to try higher lol worth a shot and cant loose @b/e i guess not sure were my t/p is??maybe 1800 or 1748:) lol:)ok gl/gt:)
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