Goldmine!

This is a discussion on Goldmine! within the Trading Journals forums, part of the Reception category; Originally Posted by FX4Newbies Hello traders, Got into a short on Usd-Cad...missed the big run earlier. Entry could have been ...

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Old Jun 15, 2011, 3:40am   #631
 
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Re: Goldmine!

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Originally Posted by FX4Newbies View Post
Hello traders,

Got into a short on Usd-Cad...missed the big run earlier. Entry could have been a bit later...actual entry candle shown by red arrow. Price has since come back to test the L-MLH area. Also, Bernanke to speak in about 1 hour, so the market may be idling.

Someone emailed or PM'd and asked if I would give some explanation of the "why" behind the entry...

On this one, price was in a downtrend. It gave a bounce and seemed to be hitting resistance at the red L-MLHs...(almost traded the bounce, but thought I would look for an entry to go down).

Not alot going on...up around 2 pips. Will see if it continues down as there is a support area on the H4 where the bounce began.

Chart shows where price is now..up about 6 pips...not expecting too much unless the H4 support gives way.

FX4
I think I can help answer the why question. All currencies have a relationship with the worlds stock indexes, but none is more strongly correlated than the Loonie and the major U.S. indexes. When the U.S. major indexes are going up then the Loonie is going up with it along with the other "risk" currencies......e.g. GBP, NZD, AUD, and the exotic ones as well.......Basically, as the U.S. stock markets go down the USD gains strength and vice verses......This is about a 95% rule.........The exception is in a major reversal area, which is where we are now............The rule still applies, but people are not sure where things are heading and they go cautiously............so the moves are smaller than when the market is trending harder............
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Old Jun 15, 2011, 4:00pm   #632
 
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Re: Goldmine!

FX4Newbies started this thread Got long on Eur-Gbp and managed to send a signal. Came to within 4 pips of my anticipated entry price. Now this is where it gets tricky...price is at the ML....would it blow past or should I bank my profits?

Hmm.... thinking it may go higher.

Decisions...will keep an objective eye.

FX4
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Old Jun 26, 2011, 1:27am   #633
 
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Re: Goldmine!

FX4Newbies started this thread Hello all,

Had a very busy but productive week. Not as much trading as I would have liked, but still moving forward.

The weekly chart wrap-ups will be posted on the blog by midnight EST tonight.

Take care,

FX4
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Old Jul 3, 2011, 10:05am   #634
 
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Re: Goldmine!

FX4Newbies started this thread Hello all,

Hope everyone is doing well. Continue to be busy...got a quick trade in toward the end of the week.

The weekly wrap up charts are now posted on the blog. Xau-Usd chart had a giveaway of a trade. Hope some of you are finding trades from those set-ups.

All the best this week. Happy July 4th to US traders.

FX4
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Old Jul 8, 2011, 11:46am   #635
 
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Re: Goldmine!

FX4Newbies started this thread Hello trades,

Got into Eur-Usd yesterday....below is the chart. A Schiff fork actually would have had price at the Ml. Price continued to slide down the U-MLH like it was glued to it before going lower.

Take care,

FX4

P.S. Weekly wrap-ups should be up by midnight on Saturday.
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Old Jul 12, 2011, 5:23am   #636
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Re: Goldmine!

Probably one of the best and most informative threads here. Thanks for the ridiculously huge thread of experience!
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Old Jul 18, 2011, 1:07pm   #637
 
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Re: Goldmine!

FX4Newbies started this thread
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Originally Posted by market_bull View Post
Probably one of the best and most informative threads here. Thanks for the ridiculously huge thread of experience!
Thank you Market Bull. Hope others begin to take it to heart.

All the best to you and thanks for posting.

FX4
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Old Jul 18, 2011, 1:09pm   #638
 
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Re: Goldmine!

FX4Newbies started this thread Got long EU. If price can't clear SH, might think of getting out. Entry was a little early.

FX4
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Old Jul 24, 2011, 4:57pm   #639
 
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Re: Goldmine!

FX4Newbies started this thread Hello all,

Hope your weekend is going well. The weekly wrap-ups are now posted on the blog.

Have a great trading week. I will do my best to do the same given my upcoming schedule.

All the best and take care,

FX4
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Old Jul 31, 2011, 10:49am   #640
 
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Re: Goldmine!

FX4Newbies started this thread Okay Traders,

Hope you had a great week. The weekly wrap-up of the pairs I follow on the blog are now posted.

Will try to get in on some of the trading action this week. Let's hope the market doesn't get too wild with all the happenings with The Dollar lately.

All the best,

FX4
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Old Aug 1, 2011, 4:20am   #641
 
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Re: Goldmine!

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Originally Posted by FX4Newbies View Post
Okay Traders,

Hope you had a great week. The weekly wrap-up of the pairs I follow on the blog are now posted.

Will try to get in on some of the trading action this week. Let's hope the market doesn't get too wild with all the happenings with The Dollar lately.

All the best,

FX4
It's going to be a volatile trading week. I am looking forward to it. I think some big levels will be hit by some big swings this week.

Good Trading,
Jah Dave
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Old Aug 6, 2011, 8:26am   #642
 
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Re: Goldmine!

FX4Newbies started this thread Hello Traders,

Hope you all had a great trading week. Had an overwhelmingly busy week. Got in some quick trades on Friday. Very successful week regarding some projects that were on my desktop. Now I can breathe a little easier.

Weekly wrap ups will be posted on the blog by Saturday around midnight EST.

Enjoy your weekend.

FX4
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Old Aug 18, 2011, 9:00pm   #643
 
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Re: Goldmine!

FX4Newbies started this thread Well I was able to place some trades today, but got into some entanglements on Nzd-Usd. Managed to actively manage the risk and come out ahead...didn't lose any $$$. Made a few on EurUsd...late entries. Should have been a couple of hundred pips for the day, but I am grateful that I lost nothing, but actually made some.

Still not quite in the flow but will keep on.

Hope you all did well today.

FX4

P.S. Recently completed some important travels. Trying to get back in the flow now.
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Old Aug 22, 2011, 10:38pm   #644
 
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Getting Back On Track

FX4Newbies started this thread Getting back on track. Sent a signal today on Eur-Usd. Charts are on the blog.

Time for bed.

FX4
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Old Oct 3, 2011, 6:15pm   #645
 
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Re: Goldmine!

FX4Newbies started this thread Hello Traders,

It's been a while since I posted here. Have been tending to an ill family member and just swamped in so many other areas. Can't say when I will resume. However, you can still follow my weekly wrap-ups on the blog.

Hope this thread has helped some thus far.

All the best,

FX4
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