|
Joined May 2007
|
Status: In for the long run
|385 Posts
Well they say you shouldn't have fun while trading profitably. Fortunately that's the case for me, its not fun especially what's happening on UJ.
It's like buying something cheap from China and bringing to the US to sell it for a higher price. And then taking something of higher "perceptive" value from the US and sell it back to China ....
That's how my trades been going so. I'm not complaining coz I'm ringing in the pips! Buy 121.70-121.90 .. sell 122.10-20...
I'm betting we'll see this all across the board til monday
bTW is this what you guys are talking about ? Coz whoever said ascending has a misconception.
And also it is widely accepted notion that if a triangle hasn't broken out before or at the 3/4 point past the base, it is impotent.
|
Joined Mar 2007
|
Status: Plan your trade and trade your plan
|180 Posts
Quote
Disliked
bTW is this what you guys are talking about ? Coz whoever said ascending has a misconception.
And also it is widely accepted notion that if a triangle hasn't broken out before or at the 3/4 point past the base, it is impotent.
if it would brake out before then it wouldn be a triangle, would it.Can you explain to me that concept...I really never heard something like that...
I think it is a nice one but it is formed in the wrong trading session.There is not enought volume to back it up eather way it goes.....
expecting long but in forex you must not expect noting
dado: according to the books (Ref: Tech. Analysis of The Financial Markets) a triangle needs to have at least 2 peaks and 2 troughs, but 3 and 3 is more reliable. If this is achieved BEFORE the 3/4 point there is a much higher probability of a good breakout, as we can see now there is SQUAT happening and we're right at the apex. We'll have to wait but chances are it's just going to glide out slow.
|
Joined May 2007
|
Status: In for the long run
|385 Posts
Argghh got out of my UJ SHORT too early (still profit thou)... was watching Cable.
But if UJ claws back to 122.35 level in next 1+ hr, gotta watch out for the slight upside move.
