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@downunder
look at the cable daily chart - I do not know if you can follow it on the screenshot - when not plot an ema50 to a daily chart. Measure the current distance between ema50 and current price level.
We have a very steep up move with less retracements up to now. The distance ema50 to price is wider than ever the last three years - no, only once in 2004 it was greater and afterwards we had a sharp correction.
Yes that is no indication that we cannot get another upmove - but we should think about this and remember where the pair is on the long term. We even had no correction up to now of the last strong move
mibl
__________________ Never trade with money which you need to make a living *** I trade with my money based on my decisions *** Please decide for yourself.
__________________ Never trade with money which you need to make a living *** I trade with my money based on my decisions *** Please decide for yourself.
hi all, thanks mibl for the recap, and to Nina thanks a lot for the trading system.
Mibl, is it possible that you can post o picture of USD/CHF for today trading. thanks. how did you enter this trade?
Code:
08:30cet: Level 4 long @1.2255, made a high @1.2304 (>09:30cet) => +49 pips**
thanks in advance.
Hi sovo1970,
YESTERDAYs level 4 on usdchf - I entered one pip above of that high before @1.2255 (consolidation top) with a buy stop on fxcm. Unfort. the trade then goes down first to @39 and I begun considering to close - but then it went up.
(See chart an break of the orange line
mibl
__________________ Never trade with money which you need to make a living *** I trade with my money based on my decisions *** Please decide for yourself.
Did you not get stopped out of the Cable trade??? If not at what price did you place your stop/loss?
Dave
why should I - I trailed the stop at 1.8875 - low of the last downmove was 82. now we are at 1.8916 and remembering the infos from Nina I now have closed 1/2 of my second 1/2. Now let us see if the 1/4 can overstep Ninas mark of 1.8922 where we were half an hour ago on the point.
mibl
__________________ Never trade with money which you need to make a living *** I trade with my money based on my decisions *** Please decide for yourself.
@downunder
look at the cable daily chart - I do not know if you can follow it on the screenshot - when not plot an ema50 to a daily chart. Measure the current distance between ema50 and current price level.
We have a very steep up move with less retracements up to now. The distance ema50 to price is wider than ever the last three years - no, only once in 2004 it was greater and afterwards we had a sharp correction.
Yes that is no indication that we cannot get another upmove - but we should think about this and remember where the pair is on the long term. We even had no correction up to now of the last strong move
mibl
Hi mibl,
I see what you are saying about the cable. Since there is such a wide gap between 50EMA and price and such a strong up move it may be due for a retracement.
Linear Mode
