why would i be fasting?
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #25,461
- Sep 12, 2007 8:19am Sep 12, 2007 8:19am
- | Commercial User | Joined Jun 2007 | 3,549 Posts
- #25,468
- Sep 12, 2007 8:28am Sep 12, 2007 8:28am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
u guys are aware that 1hr 50ema we have closed back above
shorts be careful
Trade what you see, not what you think.
- #25,470
- Sep 12, 2007 8:32am Sep 12, 2007 8:32am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #25,472
- Edited 8:54am Sep 12, 2007 8:39am | Edited 8:54am
- | Joined Dec 2006 | Status: Trader | 1,556 Posts
- #25,474
- Sep 12, 2007 8:43am Sep 12, 2007 8:43am
- | Commercial User | Joined Jun 2007 | 3,549 Posts
I posted this Weekly chart sometime yesterday and have since gone back a ways to check the Weekly historical data. This chart is showing 3 consecutive inside candles, and it is working on a 4th (though I think we'll see a breakout up or down before this week is over). Remember, this is a 'weekly' chart. I only found one other instance where there were three consecutive inside candles and that was back in July of 1999, before Forex was even available to the everyday American trader. There was a similar situation in January of 2004, but not totally inside bars. I'm just pointing this out to let you know that it is the market that is consolidating and getting ready for its next move, it's not you who is screwed up. This week especially with its tighter range has been a test of the disciplined trader's patience. For those who just 'have to trade' it is generally a losing proposition. Hold onto your bucks until this baby breaks. You will make a lot of money on the bigger moves that follow once the beast chooses its next direction. Oh, and by the way, the 2004 situation resulted in a 1300 pip breakout move over the following 4 weeks and the 1999 situation resulted in a 2000 pip breakout move over the following 4 weeks. Patience will pay off.
M2B
very good observation
the consolidation of the MA's on 4hr compliments it and is an indication of a major brk out soon--probably when im sleeping
- #25,475
- Sep 12, 2007 8:46am Sep 12, 2007 8:46am
I'm just pointing this out to let you know that it is the market that is consolidating and getting ready for its next move, it's not you who is screwed up. This week especially with its tighter range has been a test of the disciplined trader's patience. For those who just 'have to trade' it is generally a losing proposition. Hold onto your bucks until this baby breaks. You will make a lot of money on the bigger moves that follow once the beast chooses its next direction.
M2B
You just confirmed my thoughts earlier today. A disciplined trader will wait for the trade to come to him. He would not chase the trade.
I appreciate your advice.
M2B
You just confirmed my thoughts earlier today. A disciplined trader will wait for the trade to come to him. He would not chase the trade.
I appreciate your advice.
The Will is Greater than the Skill
- #25,477
- Sep 12, 2007 8:54am Sep 12, 2007 8:54am
Patience will pay off.
M2B
Wehn I decided to use this system, I promised myself to ONLY trade according to it's rules.
So, I am not long because 1H QQE has not crossed up and
I am not short because the 4H QQE is pointing up. Sooner or later, one of the two will change. And then I'll be there. Unless I am asleep like HM, which I doubt since we are in completely different time zones.
So, one of us will get it HM
- #25,478
- Edited 9:06am Sep 12, 2007 8:55am | Edited 9:06am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
