Petefaders Journal & Open Discussions

out +8, went long after stop out. ease the loss.



+154 pips for the day.
Weekly pips: +652 pips

Hey, fourx. whats up? hows your trading going?

Just watching/learning, hopefully mate!

short 134.87 1min h&s scalp.

out +7, too jumpy.

looking for quick e/u scalps.

short G/j 135.78 off top of 5min channel

out +15

Jumped back in..out +10
was a good trade, shouldn't have closed before.


+186 pips for the day.
Weekly pips: +684 pips

short G/U 1.4744, lower tl broke on 5 min

out +4, stalling

long e/u 1.2873, on bull flag break out.

out +4, so choppy now.

edit: should've stayed in, gotta trust good setups.

+194 pips for the day.
Weekly pips: +692 pips

short g/j, 135.79 top of channel
out -23, that's ok..Been a great week!!


+171 pips for the day.
Weekly pips: +669 pips

Great results Pete, i will watch again next week,and try to figure out your method and confidence in your trades

Thanks

Cool.
My method came out of 1 1/2 years of studying. Many of the concepts take time to absorb and implement..ie, drawing fibbs, recognizing patterns, reading volume, etc.
In time I created a method that works for me.

http://g.imagehost.org/0661/wkly.jpg

http://g.imagehost.org/0382/wkly2.jpg

Notice that the 2nd large move down is double the percentage of the first move down in overall price % change.
Notice 1st major retrace is 12%, .382 fib

GET THIS: If 2nd large move down is double the percentage of the first..
what happed when I drew a double retrace of 24%..
Bingo! .382 fib!

keep in mind this is price percentage to fibb percentage comparason. I didn't realize the connection, wow!
*notice all three fibs have the same .382 retrace..
what does it all mean? Were in a retrace to 148.50 till next drop, I am as sure as I can be.


http://g.imagehost.org/0806/wow2.jpg

Hey Pete, My analysis I posted on the aus thread yesterday pretty much goes with your #198 post.