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  • #141
  • Nov 19, 2007 10:19pm Nov 19, 2007 10:19pm
I just added to the aussie position at .8791 with a take profit of .8750.
I dream, therefore I become.
  • #142
  • Nov 20, 2007 12:15am Nov 20, 2007 12:15am
I still am betting on UP

DBLHC

Man, I need to get to bed... and if I do, I am going to miss this one... I am tired and I got to work tomorrow.....................
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  • #143
  • Nov 20, 2007 5:53am Nov 20, 2007 5:53am
Told you something was gonna happen !!!
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  • #144
  • Nov 20, 2007 8:27am Nov 20, 2007 8:27am
Quoting Tiki Trader
Told you something was gonna happen !!!
You were right on that one Tiki! That was a fantastic call. It seems that it is dragging everything along with it now too haha. I just hope it moves back down before the end of the day so I dont take an overall loss for the day.
I dream, therefore I become.
  • #145
  • Nov 21, 2007 7:53am Nov 21, 2007 7:53am
Price finlly broke through... I made some pips on that... now, does the REAL shorting start now ???? I have gone short again with target of 219... though I will hoping for more like 218.... my stop is right above the red line which was support last night, and now hopefully resistance........
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  • #146
  • Nov 21, 2007 9:07am Nov 21, 2007 9:07am
Quoting Tiki Trader
Price finlly broke through... I made some pips on that... now, does the REAL shorting start now ???? I have gone short again with target of 219... though I will hoping for more like 218.... my stop is right above the red line which was support last night, and now hopefully resistance........
I would agree with you about it hitting at least 219. There is pretty good support at that area though, so I would be on the lookout for a reversal at that point. If it doesn't reverse, I would look to see more downside movement.
I dream, therefore I become.
  • #147
  • Nov 21, 2007 9:12am Nov 21, 2007 9:12am
Now for my closed trades from a few days ago. I still have some running on the Gbp/Jpy.
One Aud/usd trade was closed for a loss of 72 pips. I closed this and I don't really know why. I added to the position after I closed it out at a higher price. I can't really remember my logic in this.

The other aussie trades are as follows;
1. opened at .8791 and closed at .8750 for a gain of 41 pips.
2. opened at .8804 and closed at .8750 for a gain of 54 pips.
3. opened at .8892 and closed at .8750 for a gain of 142 pips.

I still have two shorts running on the pound and the Gbp/Jpy.
The pound is currently in loss of around 80 pips, but the Gbp/jpy is in profit by about 250 pips.
I dream, therefore I become.
  • #148
  • Nov 21, 2007 9:15am Nov 21, 2007 9:15am
I remember why I closed out my one trade on the aussie for a loss. I ended up trading with emotion and got nervous and doubtful that it would indeed follow suit with my trading plan. I did this because it moved upto resistance levels and I didn't think they would hold.
I dream, therefore I become.
  • #149
  • Nov 21, 2007 10:03am Nov 21, 2007 10:03am
I just noticed that I didn't post my initial trade on the Gbp/Jpy that I took so I'm just posting it in addition with the other that I just took.
These positions are short from 225.90 and the one that I just added is from 222.84. I am looking for a target around the 219-220 area.
I dream, therefore I become.
  • #150
  • Nov 21, 2007 10:05am Nov 21, 2007 10:05am
I think if the daily closing anything even remotely like a piercing pattern (halfway through previous bar), we will see more downside movement tomorrow and the coming days. First area of support will be around 2.0380. I think we will see a reversal around that area, but if not then I look to see a test of 2.0250. This could take a while to play out, but overall this is my thought for the pound in the coming days. On the 4 hour chart we are immediately facing resistance based on my dynamic fib levels, so I think it will break to the downside to make a test of 2.0460 very soon. After this area, 2.0250 seems like it could be a shoe-in.
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1195660205 http://www.forexfactory.com/attachme...1&d=1195660596


This is my reasoning for the pound trade. I will add to the trade if the conditions that I said of here are met.
I dream, therefore I become.
  • #151
  • Nov 22, 2007 11:46am Nov 22, 2007 11:46am
I just added to my Gbp/Jpy positions at 223.57. Based on the 4 hour charts, we are seeing price move away from the fib tunnel resistance and so I think price will drop considerably and fairly soon. Triple interest killed me and yet I always seem to forget about it. I am starting to think that it might be a good strategy to enter long on wednesdays right before the days close and then wait to collect the interest as price moves up a little. I would then exit as soon as I am into a profit. I have noticed the in the last few weeks, now that I think of it, that price moves upward because of the interest being paid out and then resuming its former movement cycles.
I dream, therefore I become.
  • #152
  • Nov 22, 2007 11:50am Nov 22, 2007 11:50am
This is my chart that, as you can see, price moved away from the resistance of the tunnel area. We may get another retest, but maybe not. That is why I decided to enter another position here.
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I dream, therefore I become.
  • #153
  • Nov 22, 2007 12:17pm Nov 22, 2007 12:17pm
Well, I don't know.... just seems like a reaaaaaalllllyyyyy boring day... just nothing at all happening...

I'd like to see GBP/JPY go down... since I went short yesterday again... I have been negative since... I am almost at breakeven again... and thinking I will just get out if i can, and forget about it for today.......... I don't see any signsof it wanting to do much today... at least not very quickly... unless I get out of the trade... then it will no doubt drop like a rock... I really thought that once we got through the 224.40 line, that line would act as resistance... but it does not seem so since it went right up back through it last night as if it were nothing...


Quoting mike w
This is my chart that, as you can see, price moved away from the resistance of the tunnel area. We may get another retest, but maybe not. That is why I decided to enter another position here.
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  • #154
  • Nov 22, 2007 12:47pm Nov 22, 2007 12:47pm
Quoting Tiki Trader
Well, I don't know.... just seems like a reaaaaaalllllyyyyy boring day... just nothing at all happening...

I'd like to see GBP/JPY go down... since I went short yesterday again... I have been negative since... I am almost at breakeven again... and thinking I will just get out if i can, and forget about it for today.......... I don't see any signsof it wanting to do much today... at least not very quickly... unless I get out of the trade... then it will no doubt drop like a rock... I really thought that once we got through the 224.40 line, that line would act as resistance... but it does not seem so since it went right up back through it last night as if it were nothing...
I agree with you Tiki, today is incredibly boring for trading as the U.S. is on holiday. I think we will start to see movement at around 6 PM Eastern today. After the pace picks up again, I think we will continue to move downwards after the markets pick up. Instead of closing your trades at breakeven, look at the charts and ask yourself when the time comes if you would take the trade again at that time. If you would, then maybe you should hold onto it. If you wouldn't take a short order at that time, then why would you want to be in one?

As for the resistance at the 224.40 area, look at the 4 hour charts. It's held pretty good, especially on this last run. There was a pin bar at that area 4 or 5 bars ago, indicating that the price couldn't breach and close above it. This, along with my system that I am using, is keeping me confident in the trade. This isn't about my trade though, this is about yours. If you can find various things to keep you confident in your position, then keep it. If not, take it off the board.
I dream, therefore I become.
  • #155
  • Nov 22, 2007 1:37pm Nov 22, 2007 1:37pm
I've added to the Gbp/Jpy position yet again and this will be the last addition until price moves further down to, say, 221. My first position is carrying this and keeping me up in the trades, which is allowing me to keep adding to this without going into the negative. My addition was at 223.95. I am looking for it to drop now that it has retraced to this level.
I dream, therefore I become.
  • #156
  • Nov 22, 2007 7:51pm Nov 22, 2007 7:51pm
Wow, that's going to be a nice pin bar on the hourly for the gbp/jpy and possibly the 4 hour when it gets there.
I dream, therefore I become.
  • #157
  • Nov 22, 2007 7:59pm Nov 22, 2007 7:59pm
My two trades on the pound closed out for a loss, and a fairly big one at that. the first for -209 pips and the second for -93 pips. I am viewing this as a fairly good thing actually, because now I have the ability to stack more to my gbp/jpy trades while keeping solid money management practices. I added to the shorts again at 224.10 and 224.08. My initial targets for these are 221 and then we will see from there how things pan out. That does not mean I will be closing these trades at that price.

The gbp/jpy trades are all looking like solid trades based upon my system, the downwards channel being kept intact, and price action declaring that it couldn't breach and keep the higher price.
I dream, therefore I become.
  • #158
  • Nov 22, 2007 8:15pm Nov 22, 2007 8:15pm
Well, so much for the boring day theory !!!
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  • #159
  • Nov 22, 2007 8:17pm Nov 22, 2007 8:17pm
What are your stops on gbp/JPY ?????
  • #160
  • Nov 22, 2007 8:40pm Nov 22, 2007 8:40pm
Quoting Tiki Trader
Well, so much for the boring day theory !!!
I hear that Tiki.. that move up ended up closing my positions on the gbp/usd, which wasnt necessarily a bad thing because it wasn't moving at all. That, along with the fact that it allowed me to add to my gbp/jpy positions, made me feel ok about it.

As for my stops on my trades, they are scattered but mostly around 225.50. I don't normally post my stops because I normally will just close out manually if I don't see the trade as being a good setup anymore.
I dream, therefore I become.
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