Harmonic Wave Journal

Girl
Raz is a Lady

But she'll forgive you if your coffee making skills can match your trading? ;p



Hmz. Well, alright ;p

.382 of impulse holding so far..let's keep it that way ;p

2.0530 next then, yes? (strong FE 161.8 of the subwave, we stalled at FE 138.2% = 2.0480 for this drop)

What are your personal TP targets for your parts?

Oops sorry then, miss. Too bad I can't make coffee, I even don't drink it.

Just above 2.05 would be great for my TP2, TP1 would as usual be around 40+ pips. I'd consider TP3 above 2.0550-60 and beyond (nearing 2.06).
Well yes I agree 2.0530 is next upside target followed by ~2.0570-600: there's a trendline sitting around right now.

EUR/USD's daily RSI has broken off the peak of previous RSI peak in July. So upwards steam is still available if this pair still wants to use it. My opinion.

Indeed. The general picture show positive upwards movement, I just thought this correction is very normal according to RSI readings. But surely Euro is set to test more highs in near future.. lets just hope we pick the right entry.

Good luck this month

I opened it a bit earlier, so my first lot got +40 already. Well, that looks nice!

Opportunity #G47/07
GBP/USD Long
3 parts
Entry: 2.0401
Stop (initial): 2.0351

End of mini mini wave 4 of 3 (?).

Update 1: S/L tightened to 2.0375 (guarantees -26). Entered the trade too high.
Update 2: Took 1st profit at 2.0446 (+45). S/L tightened to 2.0384 (guarantees -17). Set TP2 at 2.0511 for +110.

bro Traex,

You are amazing....gotta take some tips from you lah.

in less than 6mths already 1000% profit. You make the millionaire dream seem easily achievable

well, yes this is first trade and that whole thing seems amazing

Hi
well I look at this thread time to time so I wanted to show this ..
Well here a wave count which show a possible complex correction...
but if it break the 2.0591 it could reach 2.1 easily...
just my taught...
thanks

Heya Kinga...yea some of my bigger extensions line up with 2.1 well if we manage to move past our prior high with conviction...for now I just want my 2.0590 to be hit swiftly and safely and if we just sail through and keep going, so will I...not in a hurry to leave these longs after the GJ and GBPUSD broke out...

I think that Cable is heading up on daily chart. But minor correction cannot be ruled out.

It has failed 3 consecutive times to break below 1.9650 which set this as a base for further highs, thus I think the next highs will be well over 2.0650.

Bring it on

Stopped out, yet overall trade net positive some pips.
So afte this correction lower I still favour upside especially euro which closed weekly/monthly on its highs with positive divergence.

Opportunity #G47/07 (re-entry)
GBP/USD Long
3 parts
Entry: 2.0372
Stop (initial): 2.0322

End of mini mini wave 4 of 3 (?).

Update 1: S/L tightened to 2.0375 (guarantees -26). Entered the trade too high.
Update 2: Took 1st profit at 2.0446 (+45). S/L tightened to 2.0384 (guarantees -17). Set TP2 at 2.0511 for +110.
Update 3: Stopped out for -34. Re-entry at 2.0372, initial stop at 2.0322.
Update 4: S/L tightened to 2.0367 (guarantees -5). Possible to move further lower.

Cable is playing its messy pattern now as usual. The fact that many people are already expecting it to continue upwards isn't good for the move. Almost everyone has already bought cable = no power to go up = would go down instead. Hope it's not the case now.

They got to us!

Toldcha the thread's getting too much visibility, they must have read your stop levels and then used the low liquidity in Asia to get to you! ;p

Had this creeping suspicion about a new low / risk for the 50%...I just hope the upmove itself won't be jeopardized...

Opportunity #G47/07 (re-entry)
GBP/USD Long
3 parts
Entry: 2.0372
Stop (initial): 2.0322

End of mini mini wave 4 of 3 (?).

Update 1: S/L tightened to 2.0375 (guarantees -26). Entered the trade too high.
Update 2: Took 1st profit at 2.0446 (+45). S/L tightened to 2.0384 (guarantees -17). Set TP2 at 2.0511 for +110.
Update 3: Stopped out for -34. Re-entry at 2.0372, initial stop at 2.0322.
Update 4: S/L tightened to 2.0367 (guarantees -5). Possible to move further lower.
Update 5: Took 1st profit at 2.0418 (+46). S/L tightened to 2.0390 (guarantees +18).

Grats, sneaked 1 lot in at 2.394, took half at 2426. The rest free ride SL BE...

You are doing fine.. I also booked longs profit here

Hi Tra-X,

Like many, I've been admiring your trading skills. I think it's probably time to change your profile description from "Forex Newbie" to something else. Perhaps "Forex God" is a LITTLE exaggeration, but not by much, and I suppose the title "God" is a little hard to live up to... lol

You're giving us true newbies a bad name by us not getting 1000% in 6 months ;-) ... just kidding of course. But seriously, fantastic job! You joined FF 1 year ago and you succeeding far better than most.

I'd like to learn more about how you do it. I'm going through the thread history with careful attention to detail on at least some of the trades. I'm noticing that as I look at my candles, the prices don't always line up. I'm trying to figure out just how "bad" my broker might be with respect to the quoted prices, but I wanted to double check with you first about the numbers you post.

For Sell opportunities, do you post your Bid price that you sold at? And when you close with a buy, do you post the Ask price? And when you post your pips, for example, "+33", can I assume that is net pips? Or rather, is it gross pips from which you must subtract your spread?

Using actual Bid/Ask prices seem to me to be reasonable numbers to use, but I suppose since charts have just one price, you could have instead chosen just either the Bid or Ask or some average price for consistency. Either way to me is not a problem, I just want to understand what number you use.


On April 17, 2007, at 10:45 GMT time, you posted this opportunity:
================
Opportunity #G6/07
GBP/USD Short
3 parts
Entry: 2.0045
Stop (initial): 2.0095
=================

30 minutes later, at 11:15 GMT, you posted you had closed your first position:
Update 1: Took 1st profit at 2.0012 (+33). S/L tightened to 2.0055 (guarantees -10).


I would assume it takes you a few minutes to post your trade, so I'm not expecting real-time posts... TRADE first, and post in the journal when you get comfortable, a few minutes later.


As I said, I'm trying to figure out how good or bad my broker's prices are. My broker's spread is fixed at 8 pips, and my Bid prices were as follows:

(15M candles)
4/17 10:15-29 GMT. High was 2.0033 , Low was 1.9996 (Bid)
4/17 10:30-44 GMT, High was 2.0031 (Bid)

You must have opened your Short during one of these periods, then posted at 10:45 GMT.

4/17 10:45 GMT, Low was 2.0009 Bid (2.0017 Ask)
4/17 11:00 GMT, low was 2.0006 Bid (2.0014 Ask).


So, you sold at 2.0045, which is 12 above my best Bid. You got out at 2.0012 which is 2 below my best Ask.

That is a pretty big difference! If you don't mind, would you please double-check your 4/17 M15 candles for the high/low prices for the GMT times 10:15 - 11:15? If your prices are even farther apart, that means my broker is even worse than the 12/2 differences already noted. Can you please clarify whether you are posting your actual Bid/Ask prices, or something other than that, and net pips, or pips without considering the spread.

Do you mind sharing what broker you're using? (If you don't want to, no problem. I don't want to name mine just yet before I have a chance to study their prices in detail, and compare).


I'll have some more questions after I read more in the thread. I don't want to waste your time asking what may have already been answered.

Thanks very much.
Pips4life

P.S. Here is the complete OHLC prices for my M15 candles:

(15M candles Bid prices. For my Ask prices, add +8)
(FYI, times are either true GMT, or maybe GMT +1 for DST, I'm not sure.)

4/17/2007 10:15-29 OHLC 1.9998 2.0033 1.9996 2.0022
4/17/2007 10:30-44 OHLC 2.0023 2.0031 2.0014 2.0014
4/17/2007 10:45-59 OHLC 2.0015 2.0023 2.0009 2.0012
4/17/2007 11:00-14 OHLC 2.0011 2.0016 2.0006 2.0013