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  • #99,301
  • May 22, 2009 4:42am May 22, 2009 4:42am
Second half SL moved to BE.
  • #99,302
  • May 22, 2009 4:55am May 22, 2009 4:55am
Below 1.3943 if it gets there, I will be adding to my short (second trade management won't be posted, but all trades will be closed together) with TP 1.3928
  • #99,303
  • May 22, 2009 4:57am May 22, 2009 4:57am
Sl from 2nd half moved to BE+3 (securing any profits)
  • #99,304
  • May 22, 2009 5:01am May 22, 2009 5:01am
Trade now closed, stopped out. Small pips add up eventually.
Overall trend still up. I will be scalping within a channel unless it breaks R1
  • #99,305
  • May 22, 2009 5:07am May 22, 2009 5:07am
Quoting notch
Notch Cycle crossed below zero. I've gone short. I think we have reached the high of today and we'll auction down to 1.36349 over the coming days in a series of 3 corrective waves.

Ultimate profit target 1.36481

will review at 1.38975, 1.38479, 1.37975, 1.37483, 1.36988

Stop is 50 pips above the high of the day.

I'm off back to bed. Happy trading.
Atlast what do yu make of this??
  • #99,306
  • May 22, 2009 5:11am May 22, 2009 5:11am
My thoughts are there is no conviction in this last upward move, still short.

I am expecting the big ones to put a bit of a squeeze on here, the short set up looks too easier - we might see a push a little higher then an aggressive move down when people start taking profit!

Cheers WG
  • #99,307
  • May 22, 2009 5:14am May 22, 2009 5:14am
Quoting megabuck
Atlast what do yu make of this??
Seems reasonable.
Anything can happen after the weekend.
  • #99,308
  • May 22, 2009 5:23am May 22, 2009 5:23am
Quoting welshguy2000
My thoughts are there is no conviction in this last upward move, still short.

I am expecting the big ones to put a bit of a squeeze on here, the short set up looks too easier - we might see a push a little higher then an aggressive move down when people start taking profit!

Cheers WG

I was just laying in bed thinking the same thing. But I have seen these 5 wave things play out so many times in the past that the probabilities are on our side.

Disappointed to see that the price action isn't a little more bearish. If I get stopped out then I'll have to rummage in my scalper's toolbox. The shed is beginning to look too empty.
  • #99,309
  • May 22, 2009 5:32am May 22, 2009 5:32am
... to be going up from the 1.3945 area to test the 1.3986 area which relates back to where it came down from on January 2nd's Daily Bar. With that in mind I went long at 1.3950. (I may of course be wrong!).
Good Trading. (keep it simple).
  • #99,310
  • May 22, 2009 5:38am May 22, 2009 5:38am
I Hate Fridays....
  • #99,311
  • May 22, 2009 5:39am May 22, 2009 5:39am
Quoting notch
I was just laying in bed thinking the same thing. But I have seen these 5 wave things play out so many times in the past that the probabilities are on our side.
The shed is beginning to look too empty.
Let's get that shed full for the weekend.
Breakout traders have been having a fieldday last days. Perhaps the market will give a small breakout to the downside, below 1.3949, and there is a rising trendline to contend with just below, in short term TF
  • #99,312
  • May 22, 2009 5:47am May 22, 2009 5:47am
Quoting Jasper
... to be going up from the 1.3945 area to test the 1.3986 area which relates back to where it came down from on January 2nd's Daily Bar. With that in mind I went long at 1.3950. (I may of course be wrong!).
Nice!
  • #99,313
  • May 22, 2009 5:50am May 22, 2009 5:50am
Quoting Atlast
Let's get that shed full for the weekend.
Breakout traders have been having a fieldday last days. Perhaps the market will give a small breakout to the downside, below 1.3949, and there is a rising trendline to contend with just below, in short term TF

Oh well. The High has been taken out and It's looking increasing likely that I will have to work for my pips and trade off those levels.
  • #99,314
  • May 22, 2009 5:51am May 22, 2009 5:51am
Quoting John Lo
Atlas,
may to share how your analyze it? Tq.
John, it will take too long a post to explain. I am a short term trader mostly, sometimes intermediate. I key off small term TF. Basically the thing to do is find a way that puts you in the market psychologically, not outside, after all we are market participants. Just like when you go to the local market you have to negotiate around other people, you have to watch who is selling what and the best price as you haggle or not and every day is different. You get to know the marketplace after many visits. And the tools are old tried and tested tools. Spot where market participants congregate (support and resistance), spot where the route you are taking is likely to be met with market participants getting in the way. See the route the market is taking (trendline, moving average, whatever) and find the best signal indicator(s) (patterns) which tell you when the price is right. There, it's already too long. I have loads of posts (too many actually) explaining the charts). My strategy is simple, and I present many of the tools I use on this forum (few are proprietary and you won't need them)
  • #99,315
  • May 22, 2009 5:56am May 22, 2009 5:56am
Quoting notch
Oh well. The High has been taken out and It's looking increasing likely that I will have to work for my pips and trade off those levels.
ONly just taken out and hasn't followed through R1 yet. Must be loads of stop at round numbers as it may get pushed that way.
  • #99,316
  • May 22, 2009 5:57am May 22, 2009 5:57am
be careful, wait big sells
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  • #99,317
  • May 22, 2009 6:00am May 22, 2009 6:00am
Below 1.3972 could put me short here.
  • #99,318
  • May 22, 2009 6:03am May 22, 2009 6:03am
Quoting Jasper
... to be going up from the 1.3945 area to test the 1.3986 area which relates back to where it came down from on January 2nd's Daily Bar. With that in mind I went long at 1.3950. (I may of course be wrong!).
Now we test 1.3980 you think we go down?
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  • #99,319
  • May 22, 2009 6:05am May 22, 2009 6:05am
Quoting notch
Nice!
Thank you.

Taken good profits, still in with a little.
Good Trading. (keep it simple).
  • #99,320
  • May 22, 2009 6:06am May 22, 2009 6:06am
Quoting jcalberto
Now we test 1.3980 you think we go down?
max. 1.4000 , further down
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