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Harmonic Wave Journal

  • #201
  • May 9, 2007 6:40am May 9, 2007 6:40am
Opportunity #G12/07
GBP/USD Short
2 parts
Entry: 1.9960
Stop (initial): 2.0010

Subwave 2 down (?). Also an unfilled weekly open gap.

Update 1: S/L tightened to 1.9978 (guarantees -18).
Update 2: Set TP1 at 1.9928 for +32. Today is one of the most boring trading day ever. No recap for today. Not much different from last week.
Update 3: TP1 was hit (+32). S/L tightened to 1.9966 (guarantees -6).
Update 4: S/L tightened to 1.9945 (guarantees +15).
Update 5: Stopped out at 1.9945 (+15).

Total gain: +47
Tra-X
  • #202
  • May 9, 2007 12:07pm May 9, 2007 12:07pm
Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Update 1: Exited 1st part at 1.9940 (+13). Taking too long.
Update 2: S/L tightened to 1.9890 (guarantees -37). Price came within 2 pips of stop last night. FOMC rate statement tonight + BoE + ECB tomorrow will prolly finally provide a breakout.
Update 3: Breakout to the upside! Took 2nd profit at 1.9996 (+69). S/L tightened to 1.9917 (guarantees -10).
Update 4: S/L tightened to 1.9926 (guarantees -1).
Tra-X
  • #203
  • Edited 8:29pm May 9, 2007 12:11pm | Edited 8:29pm
Opportunity #E8/07
EUR/USD Long
3 parts
Entry: 1.3510 (limit, canceled)
Stop (initial): 1.3470

Mini wave 5 up.

Update 1: Limit didn't get hit overnight. Will enter long manually.
Tra-X
  • #204
  • May 10, 2007 1:40am May 10, 2007 1:40am
Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Update 1: Exited 1st part at 1.9940 (+13). Taking too long.
Update 2: S/L tightened to 1.9890 (guarantees -37). Price came within 2 pips of stop last night. FOMC rate statement tonight + BoE + ECB tomorrow will prolly finally provide a breakout.
Update 3: Breakout to the upside! Took 2nd profit at 1.9996 (+69). S/L tightened to 1.9917 (guarantees -10).
Update 4: S/L tightened to 1.9926 (guarantees -1).
Update 5: Stopped out at 1.9926 (-1).

Total gain: +81
Tra-X
  • #205
  • May 10, 2007 3:23am May 10, 2007 3:23am
Opportunity #G14/07
GBP/USD Long
3 parts
Entry: 1.9853
Stop (initial): 1.9803

Subwave 3 or C up (?).
Tra-X
  • #206
  • Edited 4:34am May 10, 2007 3:58am | Edited 4:34am
Opportunity #G14/07
GBP/USD Long
3 parts
Entry: 1.9853
Stop (initial): 1.9803

Subwave 3 or C up (?).

Update 1: Took 1st profit at 1.9889 (+36). S/L tightened to 1.9846 (guarantees -7). BoE rate statement in few mins!
Tra-X
  • #207
  • May 10, 2007 4:31am May 10, 2007 4:31am
What a brilliant trade. Do you usually trade this way, making calls before the news or if your system says trade you do so regardless of the time or what news is coming.

Very impressed, yes 1.9850 has been a good supp level but still, very impressed.
  • #208
  • May 10, 2007 5:11am May 10, 2007 5:11am
Quoting Vantage
What a brilliant trade. Do you usually trade this way, making calls before the news or if your system says trade you do so regardless of the time or what news is coming.

Very impressed, yes 1.9850 has been a good supp level but still, very impressed.
Hi Vantage, thanks and welcome to the journal.
All trades here are just following the system, with or without news. Usually news wouldn't whipsaw the stops.
And yea, I like to make entries on supports/resistances, like in cable just now. Tbh, I kinda use other ppl's s/r levels lol (e.g from yours in WOW journal in cable case today, thanks for that ). When those levels coincidentally meet with wave signal, trades are made.
Tra-X
  • #209
  • May 10, 2007 6:08am May 10, 2007 6:08am
Opportunity #G14/07 (re-entry)
GBP/USD Long
3 parts
Entry: 1.9835
Stop (initial): 1.9785

End of wave C down (?).

Update 1: Took 1st profit at 1.9889 (+36). S/L tightened to 1.9846 (guarantees -7). BoE rate statement in few mins!
Update 2: Blasted at 1.9846 (-7 x2). Re-entry opportunity at 1.9835, initial stop at 1.9785.
Tra-X
  • #210
  • May 10, 2007 6:12am May 10, 2007 6:12am
Opportunity #E8/07
EUR/USD Long
3 parts
Entry: 1.3506
Stop (initial): 1.3466

Mini wave 5 up.

Update 1: Limit didn't get hit overnight. Will enter long manually.
Update 2: Entered long at 1.3506, initial stop at 1.3466.
Tra-X
  • #211
  • May 10, 2007 6:27am May 10, 2007 6:27am
Quoting SeekingLight
Hi!

While we could of course be in some sort of complex corrective wave, I'm just not smart enough for those

The simple ABC that I know would suggest this here, so I thought I'd ask the more progressive wave adept what he thinks
Here we are, at that FE 100 area.....

I didn't take any shorts to down here, did you?

I hope someone did, because I'm quite annoyed I didn't quite frankly...
Trust price. Know yourself.
  • #212
  • May 10, 2007 6:43am May 10, 2007 6:43am
Quoting SeekingLight
Here we are, at that FE 100 area.....

I didn't take any shorts to down here, did you?

I hope someone did, because I'm quite annoyed I didn't quite frankly...
Nope, didn't short too. : I blame someone who told us not to open trade in opposite direction of major trend. Well, just kidding.
Tra-X
  • #213
  • May 10, 2007 8:20am May 10, 2007 8:20am
Quoting Traex
Hi Vantage, thanks and welcome to the journal.
All trades here are just following the system, with or without news. Usually news wouldn't whipsaw the stops.
And yea, I like to make entries on supports/resistances, like in cable just now. Tbh, I kinda use other ppl's s/r levels lol (e.g from yours in WOW journal in cable case today, thanks for that ). When those levels coincidentally meet with wave signal, trades are made.
Its an absolute pleasure, .9850 and .9820 were fairly easy to see from eyeballing the daily and 4 hr charts. I am impressed that you got that trade in just before the news. A small question, is there a specific reason when you move your stops up that you don't move into slightly positive area rather than -7 for example. Just wondering.

For some other GBP/USD supp/res areas usually posted daily just after 3 am est have a look at brxxt's My Path to Financial Freedom.

Will be dropping in a lot more often, thanks in advance.
  • #214
  • May 10, 2007 8:59am May 10, 2007 8:59am
Quoting Vantage
Its an absolute pleasure, .9850 and .9820 were fairly easy to see from eyeballing the daily and 4 hr charts. I am impressed that you got that trade in just before the news. A small question, is there a specific reason when you move your stops up that you don't move into slightly positive area rather than -7 for example. Just wondering.

For some other GBP/USD supp/res areas usually posted daily just after 3 am est have a look at brxxt's My Path to Financial Freedom.

Will be dropping in a lot more often, thanks in advance.

Hi Vantage,
I tighten my stops based on basic EW rules, like "wave 2 can't pass the start of wave 1." So whenever a pair has moved from its top/bottom far enough the stop should be moved to exactly 1 pip above/below that top/bottom respectively (to follow the rule).
You're right, brxxt also posts the daily s/r levels, thanks for informing.
Tra-X
  • #215
  • Edited 8:46pm May 10, 2007 11:19am | Edited 8:46pm
Opportunity #G14/07 (re-entry/2nd attempt)
GBP/USD Long
3 parts
Entry: 1.9766 (limit, canceled)
Stop (initial): 1.9716

End of wave C down (?).

Update 1: Took 1st profit at 1.9889 (+36). S/L tightened to 1.9846 (guarantees -7). BoE rate statement in few mins!
Update 2: Blasted at 1.9846 (-7 x2). Re-entry opportunity at 1.9835, initial stop at 1.9785.
Update 3: Took a full blow at 1.9785 (-50 x3), the first ever in this journal. Final re-entry attempt at 1.9766 (limit), initial stop at 1.9716.
Update 4: Limit never got hit, was within few pips from getting hit. It's canceled for now.
Tra-X
  • #216
  • May 10, 2007 8:46pm May 10, 2007 8:46pm
Opportunity #E8/07
EUR/USD Long
3 parts
Entry: 1.3506
Stop (initial): 1.3466

Mini wave 5 up.

Update 1: Limit didn't get hit overnight. Will enter long manually.
Update 2: Entered long at 1.3506, initial stop at 1.3466.
Update 3: Good boy, 2nd full blow in a row (-40 x3). And it bounced back up right after it was hit; worst thing, it happened in early asian session when I was away! Need to wait again for now.
Tra-X
  • #217
  • May 10, 2007 10:00pm May 10, 2007 10:00pm
Quoting Traex
Opportunity #E8/07
EUR/USD Long
3 parts
Entry: 1.3506
Stop (initial): 1.3466

Mini wave 5 up.

Update 1: Limit didn't get hit overnight. Will enter long manually.
Update 2: Entered long at 1.3506, initial stop at 1.3466.
Update 3: Good boy, 2nd full blow in a row (-40 x3). And it bounced back up right after it was hit; worst thing, it happened in early asian session when I was away! Need to wait again for now.
It had to happen some time I suppose. That third leg down caught a lot of people, except of course a signal provider I use that gave a sell at 1.9983. I was shell shocked after the day I didn't even go back to the computer. In hindsight it was the 3rd leg down of yesterdays move, my fozzy 8 rsi/8sma
were crossing down all over and the W's % R couldn't get above the -50 line on the recovery before the last drop. That was a give away!

You are very good at what you do, all the best going forward.
Cheers.
  • #218
  • May 10, 2007 11:06pm May 10, 2007 11:06pm
Quoting Vantage
It had to happen some time I suppose. That third leg down caught a lot of people, except of course a signal provider I use that gave a sell at 1.9983. I was shell shocked after the day I didn't even go back to the computer. In hindsight it was the 3rd leg down of yesterdays move, my fozzy 8 rsi/8sma
were crossing down all over and the W's % R couldn't get above the -50 line on the recovery before the last drop. That was a give away!

You are very good at what you do, all the best going forward.
Cheers.
Yeah, this kind of things are unavoidable. So let's just forget it and move on.
Congratz to you on the short, that was gold! lol
Tra-X
  • #219
  • Edited May 11, 2007 1:35am May 10, 2007 11:59pm | Edited May 11, 2007 1:35am
Opportunity #G14/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9773
Stop (initial): 1.9723

End of wave C down (?).

Update 1: Took 1st profit at 1.9889 (+36). S/L tightened to 1.9846 (guarantees -7). BoE rate statement in few mins!
Update 2: Blasted at 1.9846 (-7 x2). Re-entry opportunity at 1.9835, initial stop at 1.9785.
Update 3: Took a full blow at 1.9785 (-50 x3), the first ever in this journal. Final re-entry attempt at 1.9766 (limit), initial stop at 1.9716.
Update 4: Limit never got hit, was within few pips from getting hit. It's canceled for now.
Update 5: Re-entry at 1.9773, initial stop at 1.9723.
Tra-X
  • #220
  • Edited 1:40am May 11, 2007 1:34am | Edited 1:40am
Opportunity #G14/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9773
Stop (initial): 1.9723

End of wave C down (?).

Update 1: Took 1st profit at 1.9889 (+36). S/L tightened to 1.9846 (guarantees -7). BoE rate statement in few mins!
Update 2: Blasted at 1.9846 (-7 x2). Re-entry opportunity at 1.9835, initial stop at 1.9785.
Update 3: Took a full blow at 1.9785 (-50 x3), the first ever in this journal. Final re-entry attempt at 1.9766 (limit), initial stop at 1.9716.
Update 4: Limit never got hit, was within few pips from getting hit. It's canceled for now.
Update 5: Re-entry at 1.9773, initial stop at 1.9723.
Update 6: S/L tightened to 1.9766 (guarantees -7).
Tra-X
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