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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #401
  • Mar 16, 2009 7:08am Mar 16, 2009 7:08am
Cable went right to the crossroads and bounced off the 4 Hr 89 SMA. Nice play here.

AJ
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  • #402
  • Mar 16, 2009 7:22am Mar 16, 2009 7:22am
The major resistance level seems to be holding at the moment.
No plans on taking it on yet for personally until either a breakout or a reversal is confirmed.
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  • #403
  • Edited 7:43am Mar 16, 2009 7:31am | Edited 7:43am
Quoting donutman_111
Cable went right to the crossroads and bounced off the 4 Hr 89 SMA. Nice play here.

AJ
Lol yea. Earlier bulls that got suckered in just got crushed. Here's the chart I posted earlier (post #396) & look where we are now.
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  • #404
  • Mar 16, 2009 7:33am Mar 16, 2009 7:33am
Quoting wormboy
Okay. Took a position for cable.

short @4138 sl@4300
again, if price close above 4150 I will cancel this trade. small 0.2 lotsize taken for this trade and will look to add to current position once it closes below 4050 level. I will post a chart up once I get home.
Good luck
Okay, took half out of this trade and leaving the rest to just run at breakeven now.

short @4138 sl@ 4135 [0.1 lotsize]

Good luck.
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  • #405
  • Mar 16, 2009 8:01am Mar 16, 2009 8:01am
Quoting wormboy
This is the chart for post #179 explaining the small position I took earlier.
I did mentioned earlier that 4265 level need to be properly breached before long position should be considered. That level had offered a respectable resistance before & coincidentally the bearish 3 black crows formed after met with the resistance. I had also placed the wide stop loss for a reason. It is placed well beyond the triangle forming on the 3rd February (low) & 9th February (high). Draw a trendline and you will see it. Should cable move up breaching the resistance...
This is quoted from post #24. The first chart is the one that was traded then. The second chart shows where we are now. Beautiful
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Click to Enlarge Name: cable2.JPG Size: 90 KB
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  • #406
  • Mar 16, 2009 9:15am Mar 16, 2009 9:15am
I can see you are doing great Wormboy I am glad I was trading up on cable and now down I posted on cable tread what I see, good luck
  • #407
  • Mar 16, 2009 9:17am Mar 16, 2009 9:17am
Hi sofia! How's trading? You remember the above charts? Particularly the 6th of March? What do you know, still in play!
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  • #408
  • Mar 16, 2009 12:01pm Mar 16, 2009 12:01pm
Atm, on the 4 hourly we have a bearish engulfing pattern for dragon. Will have to wait to see how the daily finish however. Price could possibly go up again to test 139.xx level but failure to close above 140.00 should confirm this bearish engulfing pattern & signal a bigger drop. Or we might just go down from here
In no hurry to close my remaining short position tho. Let's see how this goes.
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  • #409
  • Mar 16, 2009 12:07pm Mar 16, 2009 12:07pm
Quite similar formation to dragon. Again, a possibility a run up back to 41xx level to low 42xx. Failure to close above 4250 level should prolly send her back down. Or ... we can just go now
I'll still keep my short on this open.
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  • #410
  • Mar 16, 2009 12:29pm Mar 16, 2009 12:29pm
This is a follow-up to the daily charts at post #402. The daily showed significant rejection at the major resistance level. Atm on the 4 hourly, there is a dark cloud cover which had already formed. Usually this is an early warning for a bearish trend following in the near future. We'll see how this goes.
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  • #411
  • Mar 16, 2009 3:02pm Mar 16, 2009 3:02pm
4hr looking quite bearish, anyone planning on taking a long off this??? im still holding a short for now, 3650 possible target we shall see.

I reckon theres a few stops under 4050 at the mo
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  • #412
  • Mar 16, 2009 3:16pm Mar 16, 2009 3:16pm
The 4hr is looking bearish, i have the same set up u have. Although it is possible for tomorrow to fill the gap left on the daily first. Have to watch the movement and PA. Personally I am not totaly sold on the major GU rally. Why would lose 2yrs worth of gains in six months then start a correction now. I think we are still in a consolidation point even if it is 400 to 500 up or more. It wouldn't surpise me if we see 1.30 or lower in the next month or so. Until the upper trendline is breached and has a solid close above, we are still in the down trend until then. Time for the prove it to me point of view. The GU has to do it until then........
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Daily.JPG Size: 274 KB
  • #413
  • Mar 16, 2009 3:18pm Mar 16, 2009 3:18pm
Had to reload my platform when it reloaded my trendline slipped on the daily didn't catch it before i uploaded.
  • #414
  • Mar 16, 2009 3:42pm Mar 16, 2009 3:42pm
Quoting sblank
Had to reload my platform when it reloaded my trendline slipped on the daily didn't catch it before i uploaded.
No worries we know where it should be

Your right we might fill the gap in the daily we might need a little run up to break 4050 its proving good support.

Although the chart is very bearish I would also like to add that with current dollar sentiment gradually shifting unless equity markets continue to show signs of weakness then GU will continue to creep up off the back of the dollar selling off. I will be watching closely to see how the nikkei is behaving in the Asian session
  • #415
  • Mar 16, 2009 6:20pm Mar 16, 2009 6:20pm
Both pairs are trying to bounce long off the Daily Pivots. 1.4060 for Cable and 137.96 for the Hellevator. Could they be going to test the last highs??

AJ
  • #416
  • Mar 17, 2009 2:22am Mar 17, 2009 2:22am
Quoting wormboy
Okay, took half out of this trade and leaving the rest to just run at breakeven now.

short @4138 sl@ 4135 [0.1 lotsize]

Good luck.
Sl amended & position added.

1. short @ 4138 sl@4120 [0.1 lotsize]
2. short @ 4093 sl@4235 [0.3 lotsize]

Will look to amend once price close below @3985

Let's see how this goes.
Good luck
Thank You
  • #417
  • Mar 17, 2009 3:12am Mar 17, 2009 3:12am
Just to explain why I added to my existing position for cable.
Post #409 there was already the bearish engulfing pattern formed on the 4hourly chart yesterday. Here I have attached an hourly chart where there is a clear trendline break. I will not hesitate to pull the trigger when I get confirmation on multiple tfs. Will not hesitate to pull the plug either if the trade does not turn my way. So we'll see how this goes. Good luck
See you guys new york session!
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.JPG Size: 66 KB
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  • #418
  • Mar 17, 2009 6:08am Mar 17, 2009 6:08am
Quoting wormboy
Sl amended & position added.

1. short @ 4138 sl@4120 [0.1 lotsize]
2. short @ 4093 sl@4235 [0.3 lotsize]

Will look to amend once price close below @3985

Let's see how this goes.
Good luck

Target reached, closed 0.2 position @3975 with the remaining covered & let it work.
1. short @4138 sl@4050 [0.1 lotsize]
2. short @4093 sl@4050 [0.1 lotsize]
Good luck.
Thank You
  • #419
  • Mar 17, 2009 6:28am Mar 17, 2009 6:28am
This trendline is a bear. Need to break to hit S1 support.

AJ
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Click to Enlarge Name: gu.gif Size: 38 KB
  • #420
  • Mar 17, 2009 6:37am Mar 17, 2009 6:37am
Positioned myself on a small position for this pair since the risk reward looks too good too pass. That & the dark cloud cover which was posted yesterday is still pretty much still valid. The major resistance level is still holding after 3 days of testing. Will add to the position gradually should the trade work out as planned.

[email protected] [email protected] [0.2 lotsize]
Will amend the stop once price close below 127.15
Let's see how this goes.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EGDAY173.JPG Size: 91 KB
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