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  • #4,181
  • Jun 30, 2008 7:24am Jun 30, 2008 7:24am
As we can see price had an attempt at the high and failed to stay above ....Now price has come down to our intraday long and has not proven to show support since price has not stopped since we still have bearish candles ...right now I am on stanby. Also if our intraday short brakes I will be shorting since that would mean price is reversing and would have also broken the channel.Let me know what you think Bo.

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  • #4,182
  • Jun 30, 2008 7:25am Jun 30, 2008 7:25am
Quoting Bobokus
As long as support contiues to hold from fridays Intraday youll be ok. For fridays Intraday I would use the low of friday to the high of today, since this is the first true retracement since the low on friday.

Bo so you wont see the brake of the high as a failure to stay above it?..
I will fix my picutere in my previous post...
  • #4,183
  • Jun 30, 2008 7:28am Jun 30, 2008 7:28am
Quoting Shermenator
As we can see price had an attempt at the high and failed to stay above ....Now price has come down to our intraday long and has not proven to show support since price has not stopped since we still have bearish candles ...right now I am on stanby. Also if our intraday short brakes I will be shorting since that would mean price is reversing and would have also broken the channel.Let me know what you think Bo.

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Correct now that price has entered into the Intraday levels we watch price action since the next move should begin from here, a short break would also be a break in the current path or channel its following but should be treated as a scalp since it hasnt been rejected from a resistance point yet. Until it breaks short we are looking for the bounce since the trend is up.
  • #4,184
  • Jun 30, 2008 7:31am Jun 30, 2008 7:31am
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  • #4,185
  • Jun 30, 2008 7:39am Jun 30, 2008 7:39am
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  • #4,186
  • Jun 30, 2008 7:40am Jun 30, 2008 7:40am
Price has Broken the previous candle high thats a good reason for a long....I missed it though
I believe i should have placed a buy stop in the previous candles high.
  • #4,187
  • Jun 30, 2008 7:50am Jun 30, 2008 7:50am
Quoting GreatYves
Attachment
Now all you need is for it to make a new high and get a close above Fridays high.If it gets to the previous highs and stalls again were seeing a loss of momentum in this uptrend from last week.If it cant break after a couple of candles start looking for an exit.
  • #4,188
  • Jun 30, 2008 7:52am Jun 30, 2008 7:52am
Quote
Price has Broken the previous candle high thats a good reason for a long....I missed it though
I believe i should have placed a buy stop in the previous candles high.

wouldn't it be nice to wait for a candle to open above previous day hi to confirm that it has be broken?

just a thot
  • #4,189
  • Jun 30, 2008 7:58am Jun 30, 2008 7:58am
Quoting Naijafx
wouldn't it be nice to wait for a candle to open above previous day hi to confirm that it has be broken?

just a thot
Momentum is changin when you start braking previous candles high if you are going long and prior to that it was coming down... Also it proves that support was found on the intraday level....This is what i believe....And you whant to take the trade of the innner levels since you whant to catch it at the bottom and not get cought at the top of a probable swing. And lets say price reverses I have enough time to decide if i whant to jump out at break even or loose very littel.
  • #4,190
  • Jun 30, 2008 8:39am Jun 30, 2008 8:39am
Quoting Bobokus
Now all you need is for it to make a new high and get a close above Fridays high.If it gets to the previous highs and stalls again were seeing a loss of momentum in this uptrend from last week.If it cant break after a couple of candles start looking for an exit.
You know me by now.. My exits are T1 or SL or end of the week.

Money management permit discipline. I have 7 (seven) little but lost account in my back so i have learned the hard way. Nothing like experience. I am up 45% already in 3 weeks and the most i have risk was 3%. I could be taking those 40 pips right away and try for a lower entry later, that can never happen, and i would then have risk those 55 pip for nothing. By the time i am composing this message the candle have dance for more then 10 pips... It might take hours for 9966 to break, i am willing to wait.
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  • #4,191
  • Jun 30, 2008 9:54am Jun 30, 2008 9:54am
Im out at break even and I think Im going to call it a day after watching this so far. Good luck for anyone still in your trades.
  • #4,192
  • Jun 30, 2008 11:08am Jun 30, 2008 11:08am
BO

I see the market is bouncing between intraday high and intraday long...sine you already got taken out is their any way you would reenter if support holds again. The reason I am asking this is so that i know when its not worth trading anymore. By what I am looking at theirs some consolidation between the high and intraday long. Seems to me like theirs no decision in the market and it could go either way. Let me know your opinion on this.
  • #4,193
  • Jun 30, 2008 11:20am Jun 30, 2008 11:20am
Quoting Shermenator
BO

I see the market is bouncing between intraday high and intraday long...sine you already got taken out is their any way you would reenter if support holds again. The reason I am asking this is so that i know when its not worth trading anymore. By what I am looking at theirs some consolidation between the high and intraday long. Seems to me like theirs no decision in the market and it could go either way. Let me know your opinion on this.

No im not getting back in today, just watching now.
  • #4,194
  • Jun 30, 2008 11:51am Jun 30, 2008 11:51am
In the daily chart price has comed up to major resistance at the 5800 area...
Also price hit its intraday today during the london session and then reversed. I have removed my intraday fibb since it has no purpose anymore and I am fallowing it with my swing fibb. Price has also gotten out of the channel over the past couple of days....Overall look is bearish for now.

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  • #4,195
  • Jun 30, 2008 12:18pm Jun 30, 2008 12:18pm
I am still in this trade and swetting it! After mowing the grass, walking the dog, fixing lunch, now siping a bear and looking at chart i am back at 0 pips.. But price is now over support, tempting by a fresh long anyone?
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  • #4,196
  • Jun 30, 2008 12:35pm Jun 30, 2008 12:35pm
Bo the friday intraday hi-lo seems to be the ones that hold the road better with todays lo that touch fridays pivot and bounce, because of that should i lower my t1 to 9998 level?
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  • #4,197
  • Jun 30, 2008 12:46pm Jun 30, 2008 12:46pm
Quoting GreatYves
I am still in this trade and swetting it! After mowing the grass, walking the dog, fixing lunch, now siping a bear and looking at chart i am back at 0 pips.. But price is now over support, tempting by a fresh long anyone?
Attachment
I would feel uneasy entering a long to me it is just not worth the risk but on a side note I am looking to enter a short if it goes up some more


Also hi Bo you may know me by Ripcord
Greed Kills
  • #4,198
  • Jun 30, 2008 12:53pm Jun 30, 2008 12:53pm
Quoting GreatYves
Bo the friday intraday hi-lo seems to be the ones that hold the road better with todays lo that touch fridays pivot and bounce, because of that should i lower my t1 to 9998 level?
Ok i fixed my mind and hold to the fibs level we agreed on earlier. But i lower my TP just under the big 2.0000 at 1.9995.
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  • #4,199
  • Jun 30, 2008 12:54pm Jun 30, 2008 12:54pm
Quoting mhughes104
I would feel uneasy entering a long to me it is just not worth the risk but on a side note I am looking to enter a short if it goes up some more


Also hi Bo you may know me by Ripcord
I remember you Ripcord from the old Teamspeak chat room isn`t it? Tell us why you would go short?
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  • #4,200
  • Jun 30, 2008 12:57pm Jun 30, 2008 12:57pm
Quoting GreatYves
I remember you Ripcord from the old Teamspeak chat room isn`t it? Tell us why you would go short?
I believe he is thinking this because right now price is bouncing between the high and the intraday long. Its in a range so he expects to play the range.
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