DislikedI am finished for today. One thing to make note of is we have moved from high to low today about 270 pips. Having covered our average daily range, the chance of another breakout is unlikely. The only other trade that would be possible for me would be to go short if we break below the 38.2 of the last swing but I probably won't take that today. [b]I have been giving considerable thought to adding a very important new rule to this method. We seem to be getting the best breakouts in the Euro session which is normal. I think if we move the fibs up until...Ignored
- #124
- Jun 1, 2009 10:15am Jun 1, 2009 10:15am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
We are now coming to a great area of supply in the monthly chart...we will probably start seeing some buy stops getting triggered in the smaller timeframes so larger players fill the shorts. I will still trade upwards with the smaller timeframes but I will be cautious with price action as it travels higher with out some sort of retracement ....I will follow price action and be ready to fallow the big move down that should come soon at least to areas of interest of the 4 hour traders and hopefully a larger push down. Looking for price to indicate good price action to give us a push back down to the 1.62 area to 1.61
- #125
- Jun 2, 2009 5:56am Jun 2, 2009 5:56am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Here is my current long...I already took profits and have my stop loss at break even in the remainder piece...
- #126
- Jun 2, 2009 6:55am Jun 2, 2009 6:55am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Alright I have now moved my stop up in the remaider part of my long position...
- #127
- Jun 2, 2009 7:00am Jun 2, 2009 7:00am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Momentum is a bitt slow ...
Have taken more profits at the high now...
Have taken more profits at the high now...
- #128
- Jun 2, 2009 7:14am Jun 2, 2009 7:14am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Market is too predictable...it now sells after I take some profits...makes me feel like a market maker lol
- #129
- Jun 2, 2009 9:04am Jun 2, 2009 9:04am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have now reduced my risk once again...I only have 25 percent of the trade running...
- #130
- Jun 2, 2009 9:42am Jun 2, 2009 9:42am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Alright I have now taken another 15 percent of my remaider 25 percent in the trade. Total trade left is 10 percent and total pips up is 150...I have reduced my risk in the remaider 10 percent as well
- #133
- Jun 3, 2009 7:14am Jun 3, 2009 7:14am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Today I shorted this puppy...nice long though your killing the market mate...
- #136
- Jun 3, 2009 7:28am Jun 3, 2009 7:28am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
You are the one who is killing it. I just looked at your move a little more closely. Nice bounce on the trend line.
- #138
- Jun 4, 2009 2:53am Jun 4, 2009 2:53am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Here is my mid term analysis for the gbpusd....
I will now watch price action to long this puppy back up to the 6500 area..If price agrees with my thinking around that price I will see if yesterdays move down was simply a spike into the bullish trend in the 4 hour or if it was a sentiment shift that is seeking to test deeper levels of support. I will watch price action to indicate what way to go ...I never trade with a solid bias I just look at how the market develops and fallow the large orders.
I will now watch price action to long this puppy back up to the 6500 area..If price agrees with my thinking around that price I will see if yesterdays move down was simply a spike into the bullish trend in the 4 hour or if it was a sentiment shift that is seeking to test deeper levels of support. I will watch price action to indicate what way to go ...I never trade with a solid bias I just look at how the market develops and fallow the large orders.
- #139
- Jun 10, 2009 1:41am Jun 10, 2009 1:41am
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
FF journal: Peaks and Troffs