Goldmine!

This is a discussion on Goldmine! within the Trading Journals forums, part of the Reception category; Hello Traders, The attached chart shows a gold highlighted area at a L-MLH where a Wash and Rinse scenario occurred ...

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Old Nov 2, 2010, 12:39pm   #414
 
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Were You Washed and Rinsed Yesterday?

FX4Newbies started this thread Hello Traders,

The attached chart shows a gold highlighted area at a L-MLH where a Wash and Rinse scenario occurred yesterday. Notice where price is parked now...at another L-MLH. Be careful. Don't let them wash and rinse you today. Be patient, and wait for confirmation of price action.

Take care,

FX4Newbies

P.S. For those who may not know, a Wash and Rinse is a fake move. The price starts inching below the line encouraging traders to sell. When they do, the price is driven up, so you reverse your trade and buy. Then they leave you with the buy and drop the price. It can happen in the reverse direction as well, starting with price moving up.

NOTE: Second chart on right shows another Wash and Rinse may be in the works.
Attached Thumbnails
eur-usd-11-02-10.gif   eur-usd-11-02-10-2.gif  
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Last edited by FX4Newbies; Nov 3, 2010 at 12:33pm.
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Old Nov 3, 2010, 1:02pm   #415
 
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Lots In The Mix

FX4Newbies started this thread Well Traders,

Major news coming. Price approaching resistance areas. Gotta trade what you see as you see it. Don't assume anything. Just trade what price confirms to you.

Be careful,

FX4Newbies
Attached Thumbnails
eur-usd-11-03-10.gif  
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Old Nov 4, 2010, 1:02pm   #416
 
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EurUsd Still Trending Upward

FX4Newbies started this thread Hello again,

EurUsd still making higher highs and higher lows. Don't know when it will stop for sure. Just trade what you see.

Take care,

FX4Newbies
Attached Thumbnails
eur-usd-11-04-10.gif  
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Old Nov 5, 2010, 3:32am   #417
 
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Re: EurUsd Still Trending Upward

Quote:
Originally Posted by FX4Newbies View Post
Hello again,

EurUsd still making higher highs and higher lows. Don't know when it will stop for sure. Just trade what you see.

Take care,

FX4Newbies
I've got a Fibo target of 1.4375 Newbies. I am going to start shorting at 1.4350 and keep adding from there.


Good Trading,
JahDave
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Old Nov 5, 2010, 2:56pm   #418
 
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After The News: NFP

FX4Newbies started this thread Good Morning Traders,

A simple chart showing how price responded to the WLs after the news. Price is in a zone where some clarity is needed before entering. Price at an U-MLH (teal line) and a blue horizontal level of support below.

Wait for your set-up and entry. Follow what price is telling you.

Take care,

FX4Newbies
Attached Thumbnails
eur-usd-11-05-10.gif  
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Old Nov 7, 2010, 5:04am   #419
 
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Weekly Chart Wrap-Ups On The Blog

FX4Newbies started this thread Just mentioning here for newer viewers that weekly chart wrap-ups of the 10 pairs I follow are on the blog.

Enjoy the rest of your weekend.

FX4Newbies
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Old Nov 7, 2010, 5:09am   #420
 
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Re: EurUsd Still Trending Upward

FX4Newbies started this thread
Quote:
Originally Posted by JahDave View Post
I've got a Fibo target of 1.4375 Newbies. I am going to start shorting at 1.4350 and keep adding from there.


Good Trading,
JahDave
Hello JahDave,

Just saw your post. This pair has been in a zone to fall for some time...keeps turning, starting to fall, then fights back. Will just have to wait to see which turn will be the one. Will be interesting to see if you get the short around 1.4350.

Take care,

FX4Newbies

P.S. Don't know if you meant 1.4250.
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