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  • #1,021
  • Oct 10, 2006 8:09am Oct 10, 2006 8:09am
Quoting ssteiner87
I have a couple of fib retracements set up for longer and slightly shorter term (like 4H charts). the 61.8% retracement of 1.8180-1.9145 is 1.8550 approximately.
Thanks, I see it now.........


Regards,
  • #1,022
  • Oct 10, 2006 8:12am Oct 10, 2006 8:12am
Quoting ssteiner87
Also that was just my scalping intraday type trade. I have had a short in position for a while now and I believe we still have room for it to go a little lower.
Just so that I understand correctly.......You were initially short, took profit on the short trade. Reversed at 8850 to go long on a scalp. Closed out the long, and back short?
  • #1,023
  • Oct 10, 2006 8:22am Oct 10, 2006 8:22am
Yessir you are correct. I really need to find a broker who allows hedging so I can just hold a damn position and buy or sell inbetween when I see some short term trades.
  • #1,024
  • Oct 10, 2006 8:27am Oct 10, 2006 8:27am
Quoting ssteiner87
Yessir you are correct. I really need to find a broker who allows hedging so I can just hold a damn position and buy or sell inbetween when I see some short term trades.
Yeah, I've been thinking about the same thing myself. A solution might be to have 2 accounts. One for longer term trades, and the other for short term trades. Just a thought..........
  • #1,025
  • Oct 10, 2006 8:33am Oct 10, 2006 8:33am
My stopped out position has been restored by North Finance.....
THATS WHY I LOVE THEM...
They are honest!!!!!
  • #1,026
  • Oct 10, 2006 8:41am Oct 10, 2006 8:41am
Quoting Blast234
My stopped out position has been restored by North Finance.....
THATS WHY I LOVE THEM...
They are honest!!!!!
This is not the first time that NF is so honest and care to their clients...
I think this broker will last long so I will stick with NF...
Thanks NF...
  • #1,027
  • Oct 10, 2006 8:58am Oct 10, 2006 8:58am
@Blast234:
How have you informed them about your problem? Per email or phone? I use NF too. Good to year such statements about my own broker.
  • #1,028
  • Oct 10, 2006 10:49am Oct 10, 2006 10:49am
Quoting SeekingLight
Hi Ken!
That's where I'm uncertain with PA. There were three days between the daily bars that made the lows.
Also they were 3 pips apart(the lows). Granted, 3 isn't that much more than the recommended 2 at most, but still, I like being picky
Also they weren't the real low, the friday before the first low was at 1.8631.
I don't think that makes it a valid TBL, especially since the friday bar was almost a pin bar by 2 pips. But that's the trouble with not so perfect price action, there's a lot of ambiguity if you don't have the experience to back it up like James.
I wish there'd be more clear rules. For now I think you can't or at least shouldn't have three days in between, but I don't know. You could also have argued that tiny almost pin at the top would have been the best place to go short.

Just wanted to add to the confusion. On another note, using 4h Vegas to enter on a technical breakout away from the tunnel would have worked just as well to get short and be +230 at the moment
SeekingLight: I picked up the stuff from one of the James16 PF example. If I am not mistaken, it should be the AUDUSD chart. It has the similar setup there. When I get around, I will PM you the URL link.

Ken
  • #1,029
  • Oct 10, 2006 11:08am Oct 10, 2006 11:08am
Quoting Blast234
My stopped out position has been restored by North Finance.....
THATS WHY I LOVE THEM...
They are honest!!!!!
Glad to know that, and congrats!
I like their customer service very much... they have always been caring and prompt. Good point here!
  • #1,030
  • Oct 10, 2006 3:23pm Oct 10, 2006 3:23pm
Quoting Blast234
My stopped out position has been restored by North Finance.....
THATS WHY I LOVE THEM...
They are honest!!!!!
good to hear that.
  • #1,031
  • Oct 10, 2006 4:31pm Oct 10, 2006 4:31pm
If it can move down below 1.8525, another breakout lower is possible. I'll add to my position at that level.
  • #1,032
  • Oct 12, 2006 1:18am Oct 12, 2006 1:18am
Is it now the perfect time to sell the pair?
FOMC Meeting minutes supports dollar
RSI(14) 4H is going down (indicates the bearish is likely to continue)
Last night, GBP has given a pullback to extends further downside rally

OR

We're still waiting for US trade balance confirmation tonight?
Hello World
  • #1,033
  • Oct 12, 2006 1:59am Oct 12, 2006 1:59am
Don't think so, i'm buying gbp/usd and eur/usd i expect that the trade balance will not be favorable to usd so i habe a target on 18600 and the eur on 1.2570 i'm making some sclaps on usdchf too but i'm with a trade with 1.2685 and in usdcad 1.1345
  • #1,034
  • Oct 12, 2006 2:40am Oct 12, 2006 2:40am
If you read the reports here tech reports here on FF they say the GBP is going down. Also another source mentions that the volume for the GBP (number of traders trading) has gone up and with more traders getting into the market it has caused the GBP to go down. Indicating a strong sentiment of shorting the GBP. But if you look at the chart the Gbp has gone up about 50 pips since 2am eastern time and about 80 pips since the beginning of what I call the new day 5pm New York time. The trade balance at 8:30am is suppose to be favorable for the dollar so that might reverse or cause a downward spike against the GBP and if favor of the USD.

So the answere. If you got in a trade for Gbp between 5pm and 2am eastern and went long and bought the pound you would have done Ok. It seems to be pulling back a little now. If you watched the gpb it has a tendnacy to reverse the trend at 3am ( which it didn't) and at 4am eatern time. Keep an eye on it and in the next half hour or so it could start to change.

I think now it is responding to the news release here the last couple of hours.
  • #1,035
  • Oct 12, 2006 3:29am Oct 12, 2006 3:29am
Right now I am looking at a sell or short of the GBP/USD. Most of the time when it retraces by about 35 pips which it has is an indicator of a reversal.
  • #1,036
  • Oct 12, 2006 5:05am Oct 12, 2006 5:05am
If it's that confusing, then it's not worth trading. Why not just wait till the next easy trade comes by?
  • #1,037
  • Oct 12, 2006 5:44am Oct 12, 2006 5:44am
Quoting blueshift
If it's that confusing, then it's not worth trading. Why not just wait till the next easy trade comes by?
easy trade?!
Try hard, think fast, die young
  • #1,038
  • Oct 12, 2006 6:01am Oct 12, 2006 6:01am
Typically the GBP Moves like that. If there is anything typical. What would you call an easy trade.
  • #1,039
  • Oct 12, 2006 6:13am Oct 12, 2006 6:13am
  •  Carlos
  • | Joined Sep 2005 | Status: Commitment, planning and discipline | 65 Posts
I was long GBPUSD still a few hrs ago when my trailing stop was hit for a small profit.... Next we need to see the trade figures.. .. i was bullish till the sell off this morning.. need to see where the banks wnat to take us.

My plan is to trade a breakout on the figures.. the trend is short GBP.. but there was very strong support at the 1.8500 to 20 level and perhaps we have a retracement before we go short again..

Trade what u see..
Happy trading
  • #1,040
  • Oct 12, 2006 6:30am Oct 12, 2006 6:30am
Nothing is more important than the single purpose of the present moment.
Here here
Quoting dof
easy trade?!
GOD IS NOT SHORT OF CASH
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