hey I had a stop loss ... just kept moving it..number 4 rule in my trading plan .. do not move stop losses ... lol
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #102,521
- Jul 21, 2008 1:37pm Jul 21, 2008 1:37pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #102,522
- Jul 21, 2008 1:39pm Jul 21, 2008 1:39pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #102,523
- Jul 21, 2008 1:40pm Jul 21, 2008 1:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
loyalty is a bad idea in this business!
I hate swing trading anyway and do much better when the account is clear of trades when I come to day trade in the mornings.....
you can trade with a clear mind and not worry about swing trades.
YM going for LOD lilmoe .. watch for breakdown
Blogging daily now at www.volume.zone
Looking at weekly chart for the last 8 months the area we are in now has proven to be very strong resistance.
I have to question the probability of anymore upside movement. Technically we are poised for a grand move up, but the weekly chart and the fundies don't match this outlook.
What would motivate this move?
Oil dropping? Don't bet on it.
More upside in equities? Don't bet on it
Interest rate increases? Don't bet on it
One thing I have definitely learned over the past year is that once the herd is "expecting" a move in one direction the sweet beast just moves in the other....
Just an observation....oh and my weekly mom's are ALL pointing down.
Watch for oil to spike; hurricanes, hurricanes, hurricanes..
Gold is meandering up.....something is fishy!
and: dollar index upside?? don't bet on it; no way does the fed have the guts to raise rates: immediate bloodbath in equities would occur.
and: we did not reach the high on the vix last week: look how quickly they shoved the dow above 10,700 to 11,000 (last tuesday) - still not sure whether that's bearish or bullish atm
- #102,525
- Jul 21, 2008 2:01pm Jul 21, 2008 2:01pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
I hate swing trading anyway and do much better when the account is clear of trades when I come to day trade in the mornings.....
you can trade with a clear mind and not worry about swing trades.
YM going for LOD lilmoe .. watch for breakdown
today's high was a 127.2 fib bounce and 11282 is 78.6 fib of this chart. check it out. i'm going to be watching CCI closely here, if it get's oversold quickly i'll go for a larger lot long at 78.6
- #102,526
- Jul 21, 2008 2:05pm Jul 21, 2008 2:05pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
i'm watchin'. other than LOD, 11410 would seem to be a level of support, it has to be taken out first. if it does, the target will be 11282 me thinks. but guess what, i'm going long from there target higher highs
today's high was a 127.2 fib bounce and 11282 is 78.6 fib of this chart. check it out. i'm going to be watching CCI closely here, if it get's oversold quickly i'll go for a larger lot long at 78.6
I closed short at 11420 off 11480 .... am done for the day ... but my dp is 11438 and we may get a late day covering rally above this back into 11480 before the day is done.
Blogging daily now at www.volume.zone
- #102,527
- Jul 21, 2008 2:13pm Jul 21, 2008 2:13pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
I closed short at 11420 off 11480 .... am done for the day ... but my dp is 11438 and we may get a late day covering rally above this back into 11480 before the day is done.
i'm off too. i'll be watching those levels from afar, won't go short, but will go long when the 78.6 is reached. if CCI doesn't get oversold fast enough for this to bounce off of 78.6 it might reach 61.8, i'll go long from there too.
- #102,528
- Jul 21, 2008 2:15pm Jul 21, 2008 2:15pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
once she broke 50 sma on 10 min down she went along with ym , 213.30 was my entry with a 40 pips stop .... moved stop to break even
Blogging daily now at www.volume.zone
- #102,529
- Jul 21, 2008 2:17pm Jul 21, 2008 2:17pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
cool, i only managed to make enough pips out of Ym to reach my daily target
i'll be watching those levels from afar, won't go short, but will go long when the 78.6 is reached. if CCI doesn't get oversold fast enough for this to bounce off of 78.6 it might reach 61.8, i'll go long from there too.
Blogging daily now at www.volume.zone
- #102,530
- Jul 21, 2008 2:23pm Jul 21, 2008 2:23pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
I think rally may have run out ... daily looks like inside bar to me
I wait for close of daily session to have a look for a pattern.
gbp/chf have had a hanging man on friday (on my chart).
But donīt judge a candle until its daily close
- #102,531
- Jul 21, 2008 2:27pm Jul 21, 2008 2:27pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
do i hear two timing here???
what do u think pipchick? you're discussing forex with a bunch of two timers
- #102,532
- Jul 21, 2008 2:28pm Jul 21, 2008 2:28pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
its a bit of a hanging man, on my chart, but the body is too big.
I wait for close of daily session to have a look for a pattern.
gbp/chf have had a hanging man on friday (on my chart).
But donīt judge a candle until its daily close
and only 30 minutes of day left for ym as the low volume times you cannot take any notice of as they skew support and resistance levels.
Blogging daily now at www.volume.zone
- #102,533
- Jul 21, 2008 2:28pm Jul 21, 2008 2:28pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
- #102,534
- Jul 21, 2008 2:29pm Jul 21, 2008 2:29pm
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
"Timing Is Everything. Really I Swear It Is"
- #102,535
- Jul 21, 2008 2:30pm Jul 21, 2008 2:30pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #102,536
- Jul 21, 2008 2:31pm Jul 21, 2008 2:31pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #102,537
- Jul 21, 2008 2:31pm Jul 21, 2008 2:31pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
I think rally may have run out ... daily looks like inside bar to me
- #102,538
- Jul 21, 2008 2:35pm Jul 21, 2008 2:35pm
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
"Timing Is Everything. Really I Swear It Is"
- #102,539
- Jul 21, 2008 2:39pm Jul 21, 2008 2:39pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
My opinion is that if Apple disappoints badly it will leave more clouds of doubt on equities in general. If they have solid/great earnings combined with the last four financials beating expectations it will spark a rally (allbeit a bear market rally). Trade what you see and think dude.
Blogging daily now at www.volume.zone
- #102,540
- Jul 21, 2008 2:40pm Jul 21, 2008 2:40pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"