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  • #6,341
  • Oct 13, 2008 11:01pm Oct 13, 2008 11:01pm
Quoting Shermenator
Its looking very nice for a short coming soon...

Attachment

...whats telling you to short gu here?
  • #6,342
  • Oct 13, 2008 11:16pm Oct 13, 2008 11:16pm
Quoting big_pipin
...whats telling you to short gu here?
I dont like short yet my friend....I whant sellers to prove to me that they are back....
  • #6,343
  • Oct 13, 2008 11:38pm Oct 13, 2008 11:38pm
hello bo and everyone in the house.i want to clarify something bo.on eur/usd,i have placed my 100% intraday fib on the 1hr chart on the high of thursday and the 0% on the low of friday.the reason why i placed it like that is i still feel there has not really been a major move since thursday except for a little retracement on friday but anyway,what do you think?am i on track?

happy pips taking
  • #6,344
  • Oct 13, 2008 11:42pm Oct 13, 2008 11:42pm
i shorted usd.jpy just some time ago at 102.22. Is it a good time to short? (sorry I am still new) I did it based on fibonacci levels (which is also new to me). Here is what I based my decision on...check the attached image
Attached Image
  • #6,345
  • Oct 13, 2008 11:46pm Oct 13, 2008 11:46pm
Quoting bjpumping
hello bo and everyone in the house.i want to clarify something bo.on eur/usd,i have placed my 100% intraday fib on the 1hr chart on the high of thursday and the 0% on the low of friday.the reason why i placed it like that is i still feel there has not really been a major move since thursday except for a little retracement on friday but anyway,what do you think?am i on track?

happy pips taking
Nope thats not correct because your intraday is meant to keep up with the last move in the market so you know the range for the day as well as keep with price and know the direction the market is trying to go as well as get information from the intraday...that swing is a larger timeframe tear...that tear is for larger timeframe traders...
  • #6,346
  • Oct 14, 2008 1:24am Oct 14, 2008 1:24am
EURusd short

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 22 KB


and AudUSD short

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 22 KB
  • #6,347
  • Oct 14, 2008 1:49am Oct 14, 2008 1:49am
got my short on EU from 3666 . 1:51am here, and I'm tired, hope i bag around 90 pips when i wake up.
  • #6,348
  • Oct 14, 2008 1:53am Oct 14, 2008 1:53am
I am getting close to my major target on this trade and will let the rest run...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 22 KB


Audusd still runnning short

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 22 KB


Currently up 65 pips between both trades
  • #6,349
  • Oct 14, 2008 2:00am Oct 14, 2008 2:00am
Quoting Shermenator
EURusd short

Attachment

and AudUSD short

Attachment

Sherm!
I can see u take your short positions based on the rejection we have on intraday high,but may i ask if it is neccessary to wait for candles to start making lower lows before we enter such positions?
  • #6,350
  • Oct 14, 2008 2:05am Oct 14, 2008 2:05am
Quoting hiswords
Sherm!
I can see u take your short positions based on the rejection we have on intraday high,but may i ask if it is neccessary to wait for candles to start making lower lows before we enter such positions?

you whant price action to confirm what you are looking at...thats why we take breaks of high or lows
  • #6,351
  • Oct 14, 2008 2:09am Oct 14, 2008 2:09am
Quoting Shermenator
I am getting close to my major target on this trade and will let the rest run...

Attachment

Audusd still runnning short

Attachment

Currently up 65 pips between both trades

If i may get u right,your exit position as i can see will be on intraday long on aud/usd and perhahps resistance short on eur/usd?
  • #6,352
  • Oct 14, 2008 2:19am Oct 14, 2008 2:19am
Quoting hiswords
If i may get u right,your exit position as i can see will be on intraday long on aud/usd and perhahps resistance short on eur/usd?
I am looking for intraday long in eurusd and audusd...those levels are not as important anymore...

I have closed majorty of both of my trade with 110 pips I let the rest run...
I am up 240 pips for this week including yesterdays trades...It has been a good start for a week...I will take my leave now...goodnight guys and happy trading

Pay attention to usdchf for shorts...I wont stay up for it since I have made my pips and will now call it a night...

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 28 KB
  • #6,353
  • Oct 14, 2008 2:25am Oct 14, 2008 2:25am
thanks shermenator for the correction.i went short on gbpusd and i came out with 52pips.i went short as a result of resistance at the retracement short (38.2% fib).now i want to ask you something shermenator?why did you go short on eurusd?to me thats a very risky trade following bo's method,why didnt you wait for price to get to intraday long to see if there will be a resistance or break or better put..why did you enter such trade?though you are making profits (65 pips) but whats your idea behind entering the trade.for me i will never try it..may be its because i am a newbie...lol

happy pips taking
  • #6,354
  • Oct 14, 2008 2:33am Oct 14, 2008 2:33am
Quoting bjpumping
thanks shermenator for the correction.i went short on gbpusd and i came out with 52pips.i went short as a result of resistance at the retracement short (38.2% fib).now i want to ask you something shermenator?why did you go short on eurusd?to me thats a very risky trade following bo's method,why didnt you wait for price to get to intraday long to see if there will be a resistance or break or better put..why did you enter such trade?though you are making profits (65 pips) but whats your idea behind entering the trade.for me i will never try it..may be its because i am a newbie...lol

happy pips taking
The trade you took was riskier their was no space to trade intraday in it...you are locked between large fibbs...thats the reason why I did not take it or even considered taking the gbpusd as an intraday trade...
and the difference between the eurusd is that their is space...you also took the trade in the gbpusd above support when it was still saying up...so I would of never taken that trade myself....
  • #6,355
  • Oct 14, 2008 4:30am Oct 14, 2008 4:30am
Quoting Shermenator
Its looking very nice for a short coming soon...

Attachment

Hi Shermenator....
Can you please explain what you are looking for to confirm a short postition in this senerio?
  • #6,356
  • Oct 14, 2008 6:07am Oct 14, 2008 6:07am
Quoting ihop
Hi Shermenator....
Can you please explain what you are looking for to confirm a short postition in this senerio?

When the candle with the arrows low broke that was the short...hope some of you guys took the trade I mentioned...

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 30 KB
  • #6,357
  • Oct 14, 2008 6:13am Oct 14, 2008 6:13am
Quoting Shermenator
When the candle with the arrows low broke that was the short...hope some of you guys took the trade I mentioned...

Attachment
So , you did not wait for the break of intraday short to enter as Bo would probably do .
Would you please clarify if you are following the same rules as Bo's or you have modified it .
  • #6,358
  • Oct 14, 2008 6:18am Oct 14, 2008 6:18am
Quoting alex12
So , you did not wait for the break of intraday short to enter as Bo would probably do .
Would you please clarify if you are following the same rules as Bo's or you have modified it .
Bo would of taken the trade at the spot I took it...you always whant to take it inside the zone...not once price leaves because by then you have missed a good portion of the move and you can get cought at the bottom of it...
  • #6,359
  • Oct 14, 2008 6:55am Oct 14, 2008 6:55am
Quoting Shermenator
Bo would of taken the trade at the spot I took it...you always whant to take it inside the zone...not once price leaves because by then you have missed a good portion of the move and you can get cought at the bottom of it...
Thanks for clarification. Why didn't you enter short a few candles before when a candle broke the intraday short and closed below it.?
  • #6,360
  • Oct 14, 2008 7:00am Oct 14, 2008 7:00am
Quoting alex12
Thanks for clarification. Why didn't you enter short a few candles before when a candle broke the intraday short and closed below it.?
Simply time of day...only take trade in the 1 hour chart when momentum and volume is high...if you are trying to create a reversal like that on a days movement meaning you take the break of the short you whant to take it when alot of traders are trading since you are trying to create a reversal....meaning tha a trade taken at that time is low probabilty trading....I trade 4 hours as well and time of the day does not matter....but when trading 1 hour chart time of the day can vary results from being a good trader to being a crappy trader...
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