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CHART Reading for serious traders

  • #121
  • Oct 25, 2007 5:05am Oct 25, 2007 5:05am
Everything is looking good
Trade what you see, not what you think.
  • #122
  • Oct 25, 2007 5:05am Oct 25, 2007 5:05am
GM Karm. Our trade is progressing nicely.
  • #123
  • Oct 25, 2007 5:06am Oct 25, 2007 5:06am
Quoting karmostaji
Everything is looking good
Thank you for contributing!
  • #124
  • Oct 25, 2007 5:27am Oct 25, 2007 5:27am
Quoting PipChick
Thank you for contributing!
I hope everyone is getting their pips. We were patient and diligent.
  • #125
  • Oct 25, 2007 5:29am Oct 25, 2007 5:29am
Quoting PipChick
I hope everyone is getting their pips. We were patient and diligent.
As much as I want to, Im not going to be greedy. I will scale out a little more and let the rest run.
  • #126
  • Oct 25, 2007 5:30am Oct 25, 2007 5:30am
The price is about the break the inside candle formation to the upside. Refer to previous chart.
  • #127
  • Oct 25, 2007 5:31am Oct 25, 2007 5:31am
Quoting PipChick
As much as I want to, Im not going to be greedy. I will scale out a little more and let the rest run.
What is your final target for this move?
  • #128
  • Oct 25, 2007 5:32am Oct 25, 2007 5:32am
took 100 sweet pips, expecting a 50% retracement and then up again when DOW opens
Trade what you see, not what you think.
  • #129
  • Oct 25, 2007 5:34am Oct 25, 2007 5:34am
I see a target of 235.13 then 235.79 then 236.44
  • #130
  • Oct 25, 2007 6:28am Oct 25, 2007 6:28am
Attempting to break the NL now. Still long .
  • #131
  • Oct 25, 2007 6:31am Oct 25, 2007 6:31am
Booked All profits and will look to buy a dip. Reason for profit taking..hit the t1 at 235.13 and the 200 ema is just above that so I am expecting a nice pull back.
  • #132
  • Oct 25, 2007 6:32am Oct 25, 2007 6:32am
After a late entry..
  • #133
  • Oct 25, 2007 6:34am Oct 25, 2007 6:34am
Quoting bunky
After a late entry..
Nice Job! Pips are pips.Looking for a pullback to about 234.50-60 to try to take out the next target os 235.79. If the pullback doesnt happen, I will wait for the break of the 200 ema then a retrace back to the 200 for a buy there and a target of 235.79
  • #134
  • Oct 25, 2007 6:52am Oct 25, 2007 6:52am
Another reason I took profits is because the 4 hr is approaching the 50 and 200 ema also so it will be a tough resistance coupled with the original inverse h/s Neck line at those same levels.
  • #135
  • Oct 25, 2007 6:53am Oct 25, 2007 6:53am
at 23 pips and letting the rest ride..
  • #136
  • Oct 25, 2007 6:59am Oct 25, 2007 6:59am
Will not enter any new trades with US news lurking around the corner.
  • #137
  • Oct 25, 2007 7:05am Oct 25, 2007 7:05am
Quoting PipChick
Another reason I took profits is because the 4 hr is approaching the 50 and 200 ema also so it will be a tough resistance coupled with the original inverse h/s Neck line at those same levels.
I got stopped out on second half for +10. Got in much later than you. How many pips did you take from this trade?
  • #138
  • Oct 25, 2007 7:06am Oct 25, 2007 7:06am
Quoting bunky
I got stopped out on second half for +10. Got in much later than you. How many pips did you take from this trade?
Patience paid off bunky....136 pips and I think after news we will be able to capture more.
  • #139
  • Oct 25, 2007 7:14am Oct 25, 2007 7:14am
Quoting PipChick
Will not enter any new trades with US news lurking around the corner.
Nice call on the 1st TP of 235.13, it got there to the pip on my chart, also on the re-trace to the 234.50 area.
Will you stay out till after the news, then back in for your 2nd and 3rd TP's?

Thanks for your expertise!
  • #140
  • Oct 25, 2007 7:18am Oct 25, 2007 7:18am
Quoting RVD
Nice call on the 1st TP of 235.13, it got there to the pip on my chart, also on the re-trace to the 234.50 area.
Will you stay out till after the news, then back in for your 2nd and 3rd TP's?

Thanks for your expertise!
Yes, I will stay out during the news. Once the mkt calms down, i will re-evaluate the charts and plan my next move. Thank you for the compliment!
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