let's put it this way. i wouldn't long to top.. i would usually wait for a retracement if i already missed an entry from the bottom. however, since u have a 50 pip SL i'd let it slide.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #85,121
- May 28, 2008 5:03pm May 28, 2008 5:03pm
- #85,122
- May 28, 2008 5:08pm May 28, 2008 5:08pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
i closed out at -25 pips .... was my first trade fo today. Tomorrow is a new opportunity though!
good luck bro
- #85,123
- May 28, 2008 5:11pm May 28, 2008 5:11pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #85,124
- May 28, 2008 5:12pm May 28, 2008 5:12pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #85,125
- May 28, 2008 5:32pm May 28, 2008 5:32pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #85,126
- May 28, 2008 5:40pm May 28, 2008 5:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #85,127
- May 28, 2008 5:41pm May 28, 2008 5:41pm
what a nice 25 pip range
It was bad day for me .. i'm taking short from 206.80 and i toke another one at 207.30 ..
is't going down to 204 agian? in the next few days or it's going up to 208 ?
- #85,128
- May 28, 2008 5:44pm May 28, 2008 5:44pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I have a sell stop order 206.80 and here is why
1) rapid rsi sell trigger
2) macd sell trigger
3) bearish div macd
4) bearish div rsi
5) same pattern forming here as started in Asian session on May 22nd before 300 pip drop
6) top of channel forming resistance
7) bottom of long term bull flag on daily forming resistance also
There I think that is enough reasons ... lol
Targets 206.10 , 205.5
1) rapid rsi sell trigger
2) macd sell trigger
3) bearish div macd
4) bearish div rsi
5) same pattern forming here as started in Asian session on May 22nd before 300 pip drop
6) top of channel forming resistance
7) bottom of long term bull flag on daily forming resistance also
There I think that is enough reasons ... lol
Targets 206.10 , 205.5
Blogging daily now at www.volume.zone
- #85,129
- May 28, 2008 5:46pm May 28, 2008 5:46pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
HI man how are you ?
It was bad day for me .. i'm taking short from 206.80 and i toke another one at 207.30 ..
is't going down to 204 agian? in the next few days or it's going up to 208 ?
hey there, i'm good
if it passes through 206.14, 61.8% fib, then yes, otherwise, i think it will go up to 208.01 (FE 100)
now i think 206.75 (38.2 fib, and daily pivot) would be a decent tp for u
that's where i'm planning on locking some profit.
- #85,131
- May 28, 2008 6:00pm May 28, 2008 6:00pm
hey there, i'm good
if it passes through 206.14, 61.8% fib, then yes, otherwise, i think it will go up to 208.01 (FE 100)
now i think 206.75 (38.2 fib, and daily pivot) would be a decent tp for u
i hope it will go there soon
- #85,133
- May 28, 2008 6:13pm May 28, 2008 6:13pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
neat
The open cycle I was babbling about early today still needs to complete. The 30 min and hour charts finished their cycle with the up move this morning, and forgot about mr 15min. This sort of thing happens on all time frames every now and then, especially on the 15 min. I went back through the 15 min chart and traced all the fib cycles since January, and price will often got out of the true fib cycle ranges. It is always due to a cycle completing on a larger TF, like we saw today. The reason I beleive so strongly that price will move back to 205.07 is because, as hard as I've tried, I cannot find one example where price has not gone back to complete a fib cycle.
So Malcomb, we are in agreement for a move down. This will equate to a retrace to the 100 fib level on the 4 hour. This will also pull price below her 0 level on the 1 hour. After the move down to 205.07,price will soar back to 208.05.
One more thing- price could go up to 208.05 first, only to drop to 205.07 then.
Hopefully that all makes sense,
Scotty B
- #85,134
- May 28, 2008 6:14pm May 28, 2008 6:14pm
- Joined Oct 2007 | Status: Saudi Arabia/Dubai | 3,584 Posts
The open cycle I was babbling about early today still needs to complete. The 30 min and hour charts finished their cycle with the up move this morning, and forgot about mr 15min. This sort of thing happens on all time frames every now and then, especially on the 15 min. I went back through the 15 min chart and traced all the fib cycles since January, and price will often got out of the true fib cycle ranges. It is always due to a cycle completing on a larger TF, like we saw today. The reason I beleive so strongly that price will move back to 205.07 is because, as hard as I've tried, I cannot find one example where price has not gone back to complete a fib cycle.
So Malcomb, we are in agreement for a move down. This will equate to a retrace to the 100 fib level on the 4 hour. This will also pull price below her 0 level on the 1 hour. After the move down to 205.07,price will soar back to 208.05.
One more thing- price could go up to 208.05 first, only to drop to 205.07 then.
Hopefully that all makes sense,
Scotty B
agree
- #85,135
- May 28, 2008 6:14pm May 28, 2008 6:14pm
- Joined Oct 2007 | Status: Saudi Arabia/Dubai | 3,584 Posts
neat
- #85,136
- May 28, 2008 6:15pm May 28, 2008 6:15pm
- Joined May 2007 | Status: ??? | 1,265 Posts
I agree kind of.
I think it will hit around 1.5675 and then fall. I do not use the 5sma however and see this happening due to other confluence.
Also I have a sell limit on GJ at 207.40 SL: 207.70 and TP: 206.25
Ok so the H1 bar missed my entry by 1 pip. Watch it go down now...
Que
- #85,138
- May 28, 2008 6:17pm May 28, 2008 6:17pm
Ok so the H1 bar missed my entry by 1 pip. Watch it go down now...
Craazy
