I agree. I would think that the top would be somewhere between 1.3920 and 1.3950, see the trend line on the attached chart. But in my opinion that can take a few days since at this moment the daily RSI is still unsustainable high (71.5). So I think ...

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Lol, don't think you can learn scalping in just one day. Its an art in itself and you will soon find out.

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Thank God for s/l's

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Can you post a chart please?

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I'm going to start building short position.

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Yes

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Just curious how big your account is if a $20 s/l is too much. If your account is small like $500 or $1000, I would just say: don't trade $1 per pip, that's way too much. But that's a thing you have to cope with yourself. Shamu

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Weekly chart

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I would say 1.3800 is very well possible (high of Jan 8), then 1.3900 if you follow the weekly trend line as I posted a chart a couple of hours ago. My take is that we will turn around somewhere between 1.3900 and 1.3950. But we'll see if it gets ...

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There was no gap at all. Its just that the price moved kind of fast. Did anyone notice that in that 1 minute gold went up almost 4,000 pips.

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I wonder what happened with fib retracements? Sorry, can't post a chart here.

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Very nice scalping up and down for the last 90 minutes. Trading is FUN !!

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According to the weekly chart below, the expected high should be somewhere around 1.39. This week? Food for thoughts?

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There are no "win win" situations in forex. You win or you lose, but don't worry, you'll find out.

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Forex does not need to be a zero sum game for the traders. If the traders are net gaining or losing, then businesses with normal currency transactions fill up the gap.

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More pips down to come? I would say at least down to fib 23.6

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Why so early? Fib 23.6 is @ 134.04

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For the time being, I'm short. Lets see how far it goes.

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I sure hope we have some retrace first during Asia. Edit: Not necassary anymore, I just got stopped out.

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Lol, me too, couldn't trade this morning. I had a long open though but sadly enough with a 50 pip target, so I missed out on the big move. Now that US market is closed I'm short @ 1.3477. See how far it retraces during Azia seesion. I sure want to ...

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