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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #341
  • Mar 13, 2009 8:59am Mar 13, 2009 8:59am
Quoting wormboy
I just can't resist the temptation. Check out that monster pin on the previous 4hr close, I don't have charts up in the office.

[email protected] [email protected] 0.5 lotsize
I'll amend my stop once we close 126.00

See you guys later
I have closed & took profit for this pair as I took another shot at the dragon.
Two of my lost trades today is 60% recovered back from this trade

[email protected] [email protected]
Thank You
  • #342
  • Mar 13, 2009 9:11am Mar 13, 2009 9:11am
Welp, took a position with dragon.

[email protected] [email protected] 0.3 lotsize
Will amend stop positions @135.00 & @133.00
Cheers
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Thank You
  • #343
  • Mar 13, 2009 9:55am Mar 13, 2009 9:55am
Hi WB

EURUSD is possible turning around which could pull EURJPY down

What are your thoughts bro
  • #344
  • Mar 13, 2009 9:58am Mar 13, 2009 9:58am
I need a new name, Daffy and Wormboy are much cooler than davids
  • #345
  • Mar 13, 2009 11:14am Mar 13, 2009 11:14am
Quoting davids
Hi WB

EURUSD is possible turning around which could pull EURJPY down

What are your thoughts bro
Okay brother. Here is my take on Euro Jpy.
From the daily you could see that the descending channel is broken today, but we are still below the major resistance level @127.5. And watch how today's finish looks later today. If it stays the same like what currently looks like a shooting star which coincidentally sits on top of the upper channel, it could well be a possible fake breakout. So we might just go all the way back down from here. I would take this setup if I wasn't on trades with dragon & cable. But I'll have to manage my risk well so I opted to stay out of this pair until I have locked in on those two pairs.
Now, the big argument would be the possible double bottom coming into play. I wouldn't want to waste my time to contemplate that far. I don't predict, I just trade what's presented to me at hand foremost Anyway in order for the double bottom to be valid for us to trade the major resistance level must be cleared first. And don't forget, should the double bottom fail to materialise, just like the three mountain tops we saw 2 days back on the 4hrly for this pair, the possibility of the three river bottom coming into play is still very much a possibility. By the end of the day today, I think we'll get a rough idea of which way the direction of the trade will be.
Cheers.

Btw, Daffy does not sound as cool as Wormboy
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Thank You
  • #346
  • Mar 13, 2009 1:20pm Mar 13, 2009 1:20pm
Okay. That's a wrap.
Overall a brilliant trading week for me. Only took two losses for the week.
My monthly 15% roi had been reached. Already up by 23% this week, can't ask for more since I still have 2 more weeks to work with, should be great.

Took two trades over the weekend

1. (cable) short@3939 sl@4050 0.2 lotsize
2. (dragon) [email protected] [email protected] 0.3 lotsize

See you next week, enjoy your weekend!
Thank You
  • #347
  • Mar 13, 2009 1:30pm Mar 13, 2009 1:30pm
that divergence on eurusd was nice... I close now +280 pips for this week drawdown was 15 pips... wonderful ratio I got this week. I wish all weeks could be like this one Normally I would have closed it earlier but I was liking price action during the week and decided to ride it until friday... and was a good decision.
I'm bullish also for next week unless some big news happen this weekend or something...
  • #348
  • Mar 13, 2009 1:42pm Mar 13, 2009 1:42pm
Quoting emda
that divergence on eurusd was nice... I close now +280 pips for this week drawdown was 15 pips... wonderful ratio I got this week. I wish all weeks could be like this one Normally I would have closed it earlier but I was liking price action during the week and decided to ride it until friday... and was a good decision.
I'm bullish also for next week unless some big news happen this weekend or something...

I think thats the right call, think they crush the DX over weekend or at least allow it to release some steam into a triangle or wedge, channel Flat of some sort on the dailies big picture. If so your positioning would of been great rel estate to hang onto
"Millionaires don't use astrology, billionaires do"
  • #349
  • Mar 13, 2009 6:11pm Mar 13, 2009 6:11pm
OK, This kind of analysis I can deal with. 1) Below the 89 SMA, meaning long term trend is still down. "The 89 was used as the main drive cog in premier trade's system, the first system ever to come out for the novelist. Premier Trade was (IT), until MT4 came out for free and from there on, P.T. Managed themselves into the ground". I have always kept the 89 SMA on my charts.
2) We have the channel which I drew off of the rejected highs, show in chart #1. 3) We zoom in to see the bearish Harami, ( Rectangle ), then the close below the Harami candle with the inverted Hammer and the pullback on Friday. All this says nice move down for me.

Oh by the way, the Fib Indicator is really nice and just shows the important levels, without the clutter. I will post it for the people who do not have it along with my favorite toy, My Pip for Pip trailstop E.A. that can be programmed for pending orders. Real nice and if you need help with it please feel free to ask.

AJ




Quoting wormboy
Okay. That's a wrap.
Overall a brilliant trading week for me. Only took two losses for the week.
My monthly 15% roi had been reached. Already up by 23% this week, can't ask for more since I still have 2 more weeks to work with, should be great.

Took two trades over the weekend

1. (cable) short@3939 sl@4050 0.2 lotsize
2. (dragon) [email protected] [email protected] 0.3 lotsize

See you next week, enjoy your weekend!
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Attached File(s)
File Type: ex4 TrailStop.ex4   6 KB | 207 downloads
File Type: ex4 FiboPiv_v4_mb.ex4   6 KB | 222 downloads
  • #350
  • Mar 14, 2009 5:58am Mar 14, 2009 5:58am
Not sure if any of you fellas use Delta points for timing swings or not, but here is the geppy day chart
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"Millionaires don't use astrology, billionaires do"
  • #351
  • Mar 14, 2009 7:36am Mar 14, 2009 7:36am
Hi Jim whats the calculation for the fib indicator?


Quoting donutman_111
Oh by the way, the Fib Indicator is really nice and just shows the important levels, without the clutter. I will post it for the people who do not have it along with my favorite toy, My Pip for Pip trailstop E.A. that can be programmed for pending orders. Real nice and if you need help with it please feel free to ask.

AJ
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352
  • Mar 14, 2009 11:14am Mar 14, 2009 11:14am
I believe they are R1=50%, R2=61.8%, R3=76.1% Then it uses the Daily Pivot which is below 38.2% then it uses the S1 and S2 Pivots and that is about all I can tell you without the MQ4.

AJ



Quoting Bones
Hi Jim whats the calculation for the fib indicator?
  • #353
  • Mar 14, 2009 12:39pm Mar 14, 2009 12:39pm
Thanks Jim ,just like the smoothy i like it. and will try it on my lower TFs
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #354
  • Mar 14, 2009 2:00pm Mar 14, 2009 2:00pm
I believe the PA will test the 1.3500 lows again before breaking out of the overall down TL.

The 1.4070 resistance held up so PA may test the lows again before BO

IMHO

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  • #355
  • Mar 14, 2009 2:07pm Mar 14, 2009 2:07pm
Quoting rgitt05
I believe the PA will test the 1.3500 lows again before breaking out of the overall down TL.

The 1.4070 resistance held up so PA may test the lows again before BO

IMHO

nice interpretation, especially your chart. at the risk of sounding like a newbie...i see you have drawn a descending triangle. now we all know which way those usually break and if the double bottom scenario does not play out...a break to the downside could be potentially massive (just a few days time). I dont trade this pair so I also think its worth nothing Eur/Usd formed what seems to be a double top close to 1.3000 which suggests a massive continuation south. Then again, pa will do the talking and those double bottom/top scenarios are what we must all pay attention to carefully as they could lead to the biggests moves so far this year. Joining the trend at that point could be quite beneficial no matter what trading strategy
Different opinions highly valued, ignorant to slander.
  • #356
  • Mar 14, 2009 2:17pm Mar 14, 2009 2:17pm
Kinda bears out what we all are thinking. Nice to see a trend line with more than 2 hits. Anyting more than 2 hits is considered great support/resistance. Too many people drawing them off 2 points and expecting fantastic things to happen.....WRONG!! Don't get me wrong, you can use 2 points if you know what you are doing but I have seen so many trendlines in this forum that don't make sense. I like this thread and I am glad it is where it is and I am sure there was madness in Worms method and he took that into account. It's kinda hidden and off the beaten track and I have yet to see one of the many cliches....." Well, Duhhh, where do you think cable is going today, Uhhhh, Duhhh" or the old reliable...." How far down do you think it will go today,, Duhhh..."

Bottom line, the push down is not over and the Gap up has already begun.

AJ



Quoting rgitt05
I believe the PA will test the 1.3500 lows again before breaking out of the overall down T\L.

The 1.4070 resistance held up so PA may test the lows again before BO

IMHO

  • #357
  • Mar 14, 2009 2:37pm Mar 14, 2009 2:37pm
In this pair we can see the 1 Hr channel with the numerous hits on each side. You can see the trip to the top is marked by an UTL, and a break of this would mean a good posibility of a trip to the bottom. The 2nd chart is the 4Hr and you can see the pullback from friday gives us an nice opportunity for an entry at the top. Ideal situation would be an entry around 1.2960 so I am hoping for a gap up to the top of the channel. Price is 1.2926 as of this writing.

AJ
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  • #358
  • Mar 14, 2009 2:44pm Mar 14, 2009 2:44pm
Thanks guys for the feedback!!


I posted a chart 4 days ago that PA will PB to the 1.4076 area before falling again to the lows




http://www.forexfactory.com/showpost...stcount=125913

I expect the PA to test the lows again possible forming a "Double Bottom"

Wait and See..

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  • #359
  • Mar 14, 2009 2:46pm Mar 14, 2009 2:46pm
Quoting donutman_111
In this pair we can see the 1 Hr channel with the numerous hits on each side. You can see the trip to the top is marked by an UTL, and a break of this would mean a good posibility of a trip to the bottom. The 2nd chart is the 4Hr and you can see the pullback from friday gives us an nice opportunity for an entry at the top. Ideal situation would be an entry around 1.2960 so I am hoping for a gap up to the top of the channel. Price is 1.2926 as of this writing.

AJ
my upper trendline is a bit different. the way i see things..once a trendline is broken it "extends" the channel wall if pa returns within the larger trend. In this scenario it was not the case..as we can see the uptrend started off the lows with the first point for the trend formation at 1.2660. In other words...I see the possibility for as high as 1.3030 but doubt we will even reach that high given the double top scenario on a longer term. heres my interpretation as posted elsewhere...the one thing we both agree on is the potential bear move to come...and it will be massive in my opinion.

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Different opinions highly valued, ignorant to slander.
  • #360
  • Mar 14, 2009 2:56pm Mar 14, 2009 2:56pm
We can always learn new avenues.



Quoting psiholog
my upper trendline is a bit different. the way i see things..once a trendline is broken it "extends" the channel wall if pa returns within the larger trend. In this scenario it was not the case..as we can see the uptrend started off the lows with the first point for the trend formation at 1.2660. In other words...I see the possibility for as high as 1.3030 but doubt we will even reach that high given the double top scenario on a longer term. heres my interpretation as posted elsewhere...the one thing we both agree on is the potential bear move...
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