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  • #1,661
  • Aug 2, 2007 10:53pm Aug 2, 2007 10:53pm
I got back in at the 119.19 again and see what happens.
The Dove - Forex Trainer
  • #1,662
  • Aug 2, 2007 10:54pm Aug 2, 2007 10:54pm
Quoting dove_alliance
Nice thought but I'm sure one of the banks would catch wind of it and then tell his trader to dump a couple billion at that same moment going the other direction..... I think we would all be in some big doo-doo after it was over.

Right. Heck, it may of even happened at the GBPJPY post aus was doing..
  • #1,663
  • Aug 2, 2007 10:55pm Aug 2, 2007 10:55pm
got to bust the 25 before it goes anywhere.
The Dove - Forex Trainer
  • #1,664
  • Aug 2, 2007 10:56pm Aug 2, 2007 10:56pm
Quoting dove_alliance
I got back in at the 119.19 again and see what happens.
The wedge is closing. We MAY break the current daily high. It depends on how the candle closes. If we can't make it back to the top of the wedge before it starts heading south..it MAY be an indication to get out of your trade and look for shorts if you're into kinky stuff like that.

But I'm an idiot.
  • #1,665
  • Aug 2, 2007 10:57pm Aug 2, 2007 10:57pm
I'm Long at a slightly poorer location at 119.25.
Was looking at Cable.

Tight stop thou.
Chances favour the prepared.
  • #1,666
  • Aug 2, 2007 11:06pm Aug 2, 2007 11:06pm
Quoting jasonowl
I'm Long at a slightly poorer location at 119.25.
Was looking at Cable.

Tight stop thou.
Well, sometime here soon it will bust through the 25 it's just a tough resistance right now..... Only problem right now, it is like magnet - keep drawing it back.
The Dove - Forex Trainer
  • #1,667
  • Aug 2, 2007 11:07pm Aug 2, 2007 11:07pm
Quoting greatserge
i just thought of something, lets all think of a date and a precise time and enter the market at that time. let all traders know of that on all known forums + word of mouth.

cool, but what if the big bankers would be in the market at that time... it wouldnt work.


but it would be cool to try.
Good idea.. like I mentioned earlier.. but how many traders do you think would actually stick to the plan? Imagine 100 million traders.. get a report at the same time ' Buy 100,000 units of gbp/usd at 1 pm EST' More than 80% of those traders would probably get in the trade half an hour or a few minutes before that time.. effectively ruining the strategy.

The only way it would work is to have a single manager controlling all the accounts.. which obviously is a crazy idea.
  • #1,668
  • Aug 2, 2007 11:08pm Aug 2, 2007 11:08pm
We'll have to see how this goes..if the current 30m/1h or next 30m/1h candle does not touch the top of the wedge.. and starts to retrace back down..it may be a sign of huge retracement back to 118.99 or even further to 118.72.

Both being possible long positions...118.72 being the less risky

But please.. I really don't know what I'm talking about.

I'm serious,
Adrian
  • #1,669
  • Aug 2, 2007 11:11pm Aug 2, 2007 11:11pm
Quoting s3padrian
We'll have to see how this goes..if the current 30m/1h or next 30m/1h candle does not touch the top of the wedge.. and starts to retrace back down..it may be a sign of huge retracement back to 118.99 or even further to 118.72.

Both being possible long positions...118.72 being the less risky

But please.. I really don't know what I'm talking about.

I'm serious,
Adrian
You don't - that's for sure.
The Dove - Forex Trainer
  • #1,670
  • Aug 2, 2007 11:18pm Aug 2, 2007 11:18pm
Well thank you Dove. I'm still long watching for the break out north, but I'm just leaving it open for a possible fall. It is, after all entering a wedge. Other people's experience and wisdom tells me that it'll be up because it's in an uptrend, BUT I have to leave the possibilities open.


I just want to make sure nobody trades on any of my signals.

I've had no drawdown for the last 8 trades I've made, but that doesn't mean I wont' be wrong the 9th, 10th, and every other time after.
  • #1,671
  • Aug 2, 2007 11:22pm Aug 2, 2007 11:22pm
Is this market dead......or am I just starring at the screen TOO long?!
  • #1,672
  • Aug 2, 2007 11:22pm Aug 2, 2007 11:22pm
Time for lunch.
Stops in place. Later dudes.
Chances favour the prepared.
  • #1,673
  • Aug 2, 2007 11:23pm Aug 2, 2007 11:23pm
I have that problem..I need to walk away and do something else when I'm in a trade.
  • #1,674
  • Aug 2, 2007 11:25pm Aug 2, 2007 11:25pm
So how long before india starts to get in on this 4x action..?
  • #1,675
  • Edited 11:57pm Aug 2, 2007 11:28pm | Edited 11:57pm
Quoting s3padrian
Well thank you Dove. I'm still long watching for the break out north, but I'm just leaving it open for a possible fall. It is, after all entering a wedge. Other people's experience and wisdom tells me that it'll be up because it's in an uptrend, BUT I have to leave the possibilities open.


I just want to make sure nobody trades on any of my signals.

I've had no drawdown for the last 8 trades I've made, but that doesn't mean I wont' be wrong the 9th, 10th, and every other time after.
The drawdown right now is only 118.95 and no further..... That is the way it stand until it get there. If it does then we will know what do to.

What I'm trying to say is please don't give out false signals for the new traders.... I have worked with wedges myself and know they are only good for breakouts.... Once that happens you have to build another..... Now, in your wedge you should recognize that this market has been flip flopping between a resistance at the 25 and a support at the 13 since 13:30 this afternoon, for almost 12 hours. I hope you understand.
The Dove - Forex Trainer
  • #1,676
  • Aug 3, 2007 12:17am Aug 3, 2007 12:17am
is the idea of going long till daily R1 (119.59) sound reasonable ?
slowly but steady is the answer.
  • #1,677
  • Aug 3, 2007 12:22am Aug 3, 2007 12:22am
Quoting greatserge
is the idea of going long till daily R1 (119.59) sound reasonable ?
Right now, until it breaks out the support or resistance, nothing can be done.... with this type of movement anything can happen..... Like I said earlier.... it may continue this movement until the non-farm payroll announcement at 08:30.
Simply put - it probably won't get there until the announcement provided they go with the numbers.
The Dove - Forex Trainer
  • #1,678
  • Aug 3, 2007 12:38am Aug 3, 2007 12:38am
thanx for the input, i see it has been sideways since yesterday noon. with +/-30 pips


edit: i also see on a 5 min chart that it cant break that 119.3 line.
slowly but steady is the answer.
  • #1,679
  • Aug 3, 2007 12:43am Aug 3, 2007 12:43am
Quoting greatserge
thanx for the input, i see it has been sideways since yesterday noon. with +/-30 pips


edit: i also see on a 5 min chart that it cant break that 119.3 line.
Nope - not yet..... It can't even break the 13 support..... So it has been fun waiting.
The Dove - Forex Trainer
  • #1,680
  • Aug 3, 2007 1:03am Aug 3, 2007 1:03am
Took a break and came back with a possible break out
The Dove - Forex Trainer
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