Second day of consolidation passed with quiet trading and slightly bullish as forecasted. My first LONG EUR target has been reached, and my first LONG GOLD target has been reached too. One thing to remember is that when you go some 15-20 pips + on EUR you have to move your SL at your entry point, so if a reverse happens to eliminate any loss. On gold move SL when you are some 6-7 USD ahead.

Now to the EUR again, after some consolidation EUR has opened the day with bullish moves, it is expected the bullish to continue in the next few hours, then EUR risks a drop to 1.3090 and even below, so be careful when going LONG. I still think that we need a retracement to 1.3250 before attacking 1.3000 level. Currently we are only 150 pips above and that will be not enough to break so important support. If we have a drop now it will reach no more than 1.2950 and we shall have a quick pullback above 1.3000.

So now we are going to look for a better price to sell EUR, and better prices are around 1.3230-50 where we shall face a strong resistance area. On extremely strong impulse we may reach even 1.3280-90, but i don't think it has a great possibility for this.

GOLD has made and upside attempt, but i have warned you in my yesterday's forecast that for restoring the upside there is a long way to go, and any upmove will be just a correction move. So after reaching 1620, the price quickly pulled back to below 1600, where it currently trades. As long as we are above 1585 we may try going long, below 1580 better exit any long-s.

Big moves today are expected with the american session opening, so if we go higher until then ususally 1 hour before american open will start profit taking and pullback, you may use it for scalping too :)

For today:

LONG EUR above 1.3136 SL 1.3120 TP 1.3230-1.3250-1.3280

SHORT EUR below 1.3080 SL 1.3095 TP 1.3030-1.3000-1.2980

LONG EUR above 1.2960 SL 1.2945 TP 1.3030-1.3090-1.3120

LONG GOLD above 1585 SL 1580 TP 1612-1620-1630

SHORT GOLD below 1577 SL 1585 TP 1562-1550

Good luck!

Views: 2807

Comment by Vladimir Mihaylov on February 28, 2013 at 5:47am

I forgot to put this SHORT EUR below 1.3260 SL 1.3290 TP 1.3030-1.2950

Comment by momochi on February 28, 2013 at 6:36am

thanks, gold's on the move already

Comment by Konwerska on February 28, 2013 at 7:38am

Thank you for today's tips

Comment by arturitofx on February 28, 2013 at 10:38am
I touched SL at 1,32 the retractment to 1'309 achieved. It's the momento to entre long eur or wait to the 1,136 Again? (Before i touched SL from 1,45 ... :,(
Comment by arturitofx on February 28, 2013 at 10:44am
I wanted to say of we should wait the 1,3136 to entre long or from now at 1,311???

I forgot to tanks you!!! (I lime your forecasts, are very accurate and early)

Comment by Vladimir Mihaylov on February 28, 2013 at 12:56pm

@ Jasmine - Dear Jasmine, thank you for your calculations, in fact everybody has his own trading strategy. Most traders make one and same mistake and it is when they have profit they wait for it to  became bigger and bigger, but suddenly all profit is cleared and the price goes against the trader and he waits for it to bunce back - but no, it never cames back and finally profit has turned into loss. Trailing stop sometimes leads to early exit of the market, but guarantees no loss, once set. Of course the trailing stop may be in your mind, and there you can change it as you like. The values i am giving are for reference only. Noone can predict what will happen at any moment. So if the price goes over 40 pips against you, better exit. Same on GOLD if the price goes 6-7 USD against you, exit as soon as possible.

Comment by Konwerska on February 28, 2013 at 1:13pm

I agree better to have a small profit than loss

Comment by Ryan Veil on February 28, 2013 at 3:21pm

Standby :

SHORT EUR below 1.3080 SL 1.3095 TP 1.3030-1.3000-1.2980

Comment by Marco Stefanelli on February 28, 2013 at 3:38pm

well, when i read some comments here on forexstreet i must say that there are a lot of egomaniacs in this little world of money addicts. i can't understand those people saying "i won a lot of money with this short and that long", this kind of statement it's just bullshit to me.. first of all, because i think that no one cares of how many good trades someone does (unless someone expressly asks it), and second because i know a lot of liars in this little stupid money/ego-driven world and fundamentally i will believe those statements only with a REAL myfxbook statement, it's a fact: more than 90% of ppl lose their money, and a lot of ppl are using internet to troll around with bullshit and fake statements because thei live a miserable life in the real world, so AT LEAST more of 50% of those statements (judging by the quantity) are likely to be fake, plus, i can't stand unasked advices, if someone wants an advice, first he asks for it, then you answer, not the opposite, it's a basic rule of a Q&A conversation.

Comment by momochi on February 28, 2013 at 4:23pm

god, get over it, you lost $100 bucks, seriously.

pls don't spam this blog.


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