Gold

[Hanif484]

The current price level is at the bottom of a mutli-month channel, and is also at the incredibly important parity level. If ever there was time for a pullback this is it. I increase my odds by not trading against the longer term trends, so I'm out of any positions in this pair at this time. If I was looking to go long, I'd wait for a break above 1.0075, but I'm going to wait for a further move to the upside, and a resumption of the downward trend before I initiate any new positions

[Bahubali2]

Gold is best gold behtareen pair hy havey pip price bhi hy aur 60 spread per mushtamil aur har trader ka chaheta pair gold hy jo k kafi profit k sath sath loss bhi deta hy gold k aynalise bohut mushkil hein new trader kabhi bhi gold per trad ni kar paty

[Hanif484]

There could be a dip beyond the support to, say 1.024 or thereabouts, just below last months' low, and 40 odd pips below where you're looking to short from, and then you could get a rebound - or a CBN intervention which suddenly spikes the pair up a few 100 pips, like the Swissy today, leaving your short orders in a pretty bad state.

In essence, if I were trading this pair, I wouldn't be shorting from 1.062, but with good mm, and a stop loss, you do what you think is right.

Good luck.

[Hanif484]

This isn't a pair I trade, but I've got an alert set for when the pair reaches parity before I start looking for where to place a long entry. With NFP due out tomorrow, and the dollar looking a bit weak at the moment, I'm 'hoping' this will be sometime next week. If I were looking to short this pair, I'd be looking for a retrace tomorrow pre-post NFP and then shorting either tomorrow or next week.

[Hanif484]

I'm looking at my USD/CAD Chart and it looks like we touched a low that we have no seen since july 08. Does anyone have any ideas on how to trade this setup or is just to risky? Looks like strong support at the 1.0062 level. Would it be unwise to short this if it breaks this key level?

[Hanif484]

There is no guarantee that the Fed is done raising. In fact I *think* they will raise at least 25bp more, if not 50bp before this tightening cycle is over. The BoJ, on the other hand, doesn't seem to have any reason to raise and even if they do, the long term effect on the currency market will be but a blip on your charts. The only realistic positive for JPY at this point seems to be news relating to China, such as further tightening, investment controls/taxes, or a serious widening of the CNY trading band against USD. Any combination of these occurrences would most likely see JPY gain some value as a result of risk aversion (investors scrambling to exit their JPY funded positions, similar to March 2007) as well as an increase in Japanese exports which would become more competitive if the yuan is allowed to appreciate.

[Hanif484]

Share ideas in different languages here and there as long as the content follows the 2 simple rules mentioned earlier.
Teach newbies and share educational information.
Post like a signal service but they must include the entry price for their market/pending order and their initial stop loss.
Example 1: Entered LONG at 1.1850, Initial SL: 1.1820
Example 2: I've just put a Buy Limit pending order at 1.0890, my initial SL is 1.0850
Post about fundamentals and politics as long as it is related to or affects the EUR/USD currency.
Post ideas around EURUSD from other sources, as long as you mention the source or provide the link to it.

[Hanif484]

That being said, here are the 3 simple rules we want you to follow. Nothing more!
Members must post ideas and charts only and solely for the EUR/USD currency! (DXY-USD Index or EXY-EURO Index charts and ideas are also allowed with the condition to relate them with EURUSD!)
Hatred, fights, and non-trading related debates between members are definitely forbidden! (Trolling and toxic behavior will not be tolerated!)
Please use only standard size fonts and don't go too crazy with colors.

[Hanif484]

But luckily we have many places on the internet where we can share and collaborate such ideas and this thread has been created to become one of them, but with one big difference: "GOOD WILL", "PEACE", "KINDNESS", "COLLABORATION", "SHARING & CARING", "FAMILY", "SUPPORTING", "RESPECT" are the major characteristics what is supposed to define this thread.

[Hanif484]

Every trader loves to post his/her ideas and interact with other traders during exciting, frustrating and most of the times boring trading hours. I believe that the overall subconscious goal is to feel surrounded by living, breathing, real people.. friends.. like-minded personalities who knowingly or unknowingly help each other not to feel isolated from daily life. Otherwise, we would just sit in front of a screen for hours and have conversations with our inner voices, right? That sounds very pathetic to me, to be honest.