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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #1,121
  • May 20, 2009 2:52pm May 20, 2009 2:52pm
Quoting nAVIN2007
I must admit i didnt expect this target this early..this may fly up...but im thinking retrace to 1.54 and load long on suitable PA

i dont know what happened last week with regards to price action it totally made me think i was wrong, this week my trade hit target without me in them..oh well

id say 1.65 may be reached end of this month...i see it reversing we would need at least one bearish dailly close and still weekly would be bullish still..just my thoughts
Lol, never cease to amaze me how price seems to deflate right after it rams into your stop. In my case, rammed it over 10 and shoot straight back down. Effin original Screw cable, it's going back to the abyss, I'll short it again upon glaring weakness. I still have to nurse my dragon. Lets go back to 145!
Thank You
  • #1,122
  • May 21, 2009 3:25am May 21, 2009 3:25am
Quoting wormboy
Lol, never cease to amaze me how price seems to deflate right after it rams into your stop. In my case, rammed it over 10 and shoot straight back down. Effin original Screw cable, it's going back to the abyss, I'll short it again upon glaring weakness. I still have to nurse my dragon. Lets go back to 145!
yes i know what u mean...like the stop loss is magnetic

this looks interesting on pullback...
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  • #1,123
  • May 21, 2009 3:44am May 21, 2009 3:44am
nav : lol, told you they'll let us watch just to piss us off bro.
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  • #1,124
  • May 21, 2009 3:47am May 21, 2009 3:47am
Quoting wormboy
Took a position on dragon with the price on the previous 4 hour close being rejected at the old ascending tl, which coincidentally closed with a bearish engulfing pattern. Let's see how this goes. Good luck

GBP JPY

1. short @ 148.98 sl @ 150.40

stop will be amended once price close below 147 level.
Book half of my trade and letting the rest work.

1. short @148.98 closed @ 147.21

2. short @ 148.98 sl @ 150.05
Thank You
  • #1,125
  • May 21, 2009 4:43am May 21, 2009 4:43am
Quoting wormboy
Lol, never cease to amaze me how price seems to deflate right after it rams into your stop. In my case, rammed it over 10 and shoot straight back down. Effin original Screw cable, it's going back to the abyss, I'll short it again upon glaring weakness. I still have to nurse my dragon. Lets go back to 145!
what is your call for cable bro?

Ub
  • #1,126
  • May 21, 2009 4:55am May 21, 2009 4:55am
Quoting ubaidahsan
what is your call for cable bro?

Ub
wait for the 4hr to close if its a pin long maybe the way to go...price went right down to to the breakout point and appear to be going up!
  • #1,127
  • May 21, 2009 5:20am May 21, 2009 5:20am
Quoting ubaidahsan
what is your call for cable bro?

Ub
Called it short yesterday ub. Check post #1113.
I was wrong because I was early - sold while sterling's momentum was up. Always sell on weakness & buy strength are my trading principles. I let the strong daily resistance level cloud my judgement. Paid the price with a loss on that trade
Anyway, based on the daily resistance, atm my bias is down. Price needs to close above the shaded area on the daily chart for bullish continuation. I'll probably take a short position once price close below the tl drawn on the hourly. In the mean time, I'll just ride my dragon

Good luck & ub, happy belated birthday bro!
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  • #1,128
  • Edited 2:27am May 22, 2009 2:10am | Edited 2:27am
i took this long today, 4hr is bullish and pin on 1hr..not looking for much ...lets see what happens..

happy trading guys
this is looking quite tricky, means the bulls can be over extended as it never closed above the green..
EDIT:-looking like i got killed already

failed trade
reason: high of the previous candle b4 pin wasnt broken...spread finished me off counter trend never help either
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  • #1,129
  • May 22, 2009 2:30am May 22, 2009 2:30am
Quoting nAVIN2007
i took this long today, 4hr is bullish and pin on 1hr..not looking for much ...lets see what happens..

happy trading guys
this is looking quite tricky, means the bulls can be over extended as it never closed above the green..
EDIT:-looking like i got killed already

failed trade
reason: high of the previous candle b4 pin wasnt broken...spread finished me off
I was thinking the same by the time I looked at the chart, price had gone south, but then it recovered and is now forming a nice looking pin on the M15. Curse those marketmakers and their tricks!
  • #1,130
  • May 22, 2009 2:57am May 22, 2009 2:57am
Quoting daffy
I was thinking the same by the time I looked at the chart, price had gone south, but then it recovered and is now forming a nice looking pin on the M15. Curse those marketmakers and their tricks!

yes, i just saw that, this is why very few traders make it not only have to get the direction right but u also have to deal with yur stop being hunted (azim this is an example of magnetic stop hunt )

new system: place imaginary stop, wait for it to get hit, then enter in desired direction

i think thou, if only i had my order a bit higher it might have worked, we didnt actually break the high and that could have made all the difference
  • #1,131
  • May 22, 2009 3:05am May 22, 2009 3:05am
I mean who needs indicators huh?

(ref post #1127)
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  • #1,132
  • May 22, 2009 7:59am May 22, 2009 7:59am
Taking short position on cable. Extremely overbought imho, so I'm taking my chances here again. Let's see how this goes. Good luck

GBP USD

1. short @ 5922 sl @ 6050
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  • #1,133
  • May 22, 2009 9:51am May 22, 2009 9:51am
Quoting wormboy
Book half of my trade and letting the rest work.

1. short @148.98 closed @ 147.21

2. short @ 148.98 sl @ 150.05
And that's the end of this trade.
Very choppy week for me so far & not surprisingly bar the fresh cable trade, this week has ended with a slight loss.
Let's see if I could take the cable short over to next week without getting stopped out today and build that trade position.
Okay, enjoy the weekend everyone. Don't forget to
Ta!
Thank You
  • #1,134
  • May 22, 2009 11:51am May 22, 2009 11:51am
Quoting wormboy
Taking short position on cable. Extremely overbought imho, so I'm taking my chances here again. Let's see how this goes. Good luck

GBP USD

1. short @ 5922 sl @ 6050
here you go Azim.....something to please your Heart..
12 hr Tf a possible HangMan,as long as price noiw stays around the 1.5922 at close of day,and a new high is not seen.
i am a Chicken,i will wait on tuesday B4 commiting myself
GBP_USD Spot.png
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  • #1,135
  • May 22, 2009 12:43pm May 22, 2009 12:43pm
Quoting wormboy
And that's the end of this trade.
Very choppy week for me so far & not surprisingly bar the fresh cable trade, this week has ended with a slight loss.
Let's see if I could take the cable short over to next week without getting stopped out today and build that trade position.
Okay, enjoy the weekend everyone. Don't forget to
Ta!
I think your stop may have been a little tight on that trade - there's a nice big trendline that seems to be holding at the moment circa 150.50 area.

In case you missed it, it's the big red thick line across the top
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  • #1,136
  • May 22, 2009 1:18pm May 22, 2009 1:18pm
Quoting daffy
I think your stop may have been a little tight on that trade - there's a nice big trendline that seems to be holding at the moment circa 150.50 area.

In case you missed it, it's the big red thick line across the top
It's now broken through that line. For future reference, please do the opposite of what I say.
  • #1,137
  • May 22, 2009 2:45pm May 22, 2009 2:45pm
Quoting daffy
It's now broken through that line. For future reference, please do the opposite of what I say.
i feel like that sometimes..market will do all it can do to make us thing we are wrong...or is it all in the head (havent worked that bit out yet..
  • #1,138
  • May 22, 2009 11:41pm May 22, 2009 11:41pm
Quoting daffy
I think your stop may have been a little tight on that trade - there's a nice big trendline that seems to be holding at the moment circa 150.50 area.

In case you missed it, it's the big red thick line across the top
I didn't missed it mate
My initial stop when the trade was placed was at that level : http://www.forexfactory.com/showpost...postcount=1103
But, I shifted the stop after booking half of my profit when price closed below the tl & I took the previous high price before the break as my stop.
But, it didn't matter really, my initial would've been taken out anyway. Funny how price just spiked up like it did yesterday under low volume. Today the quotes are back at 149.49 the last I looked
Oh well, that trade's gone so screw that. I'm keeping an eye on a possibility of a huge double top forming on the 4 hourly.
Have fun guys, I'm outta here, be back by Tuesday. Cheers
Thank You
  • #1,139
  • May 25, 2009 2:50am May 25, 2009 2:50am
Follow up to the chart on post#1132.

Looking good so far.

Baz, thanks mate, now I can sleep easy
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  • #1,140
  • May 25, 2009 5:31am May 25, 2009 5:31am
Quoting wormboy
Follow up to the chart on post#1132.

Looking good so far.

Baz, thanks mate, now I can sleep easy
there is one Concern for me......and that is the Round number of 1.6000,so near....
it is a possibility it may be pushed up there before the Heavy selling,there are 2 Fibo No"s resting at the same level....
I will have to see Tuesday London session...
take care and all the best....

baz
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