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  • #8,001
  • Jun 12, 2009 7:28am Jun 12, 2009 7:28am
Made a 75 pip short on GU, pretty happy about it. Price seems to be nose diving. I think it should test support level of 1.6431.

Let me know what you think.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,002
  • Jun 12, 2009 7:40am Jun 12, 2009 7:40am
Quoting TheLegace
Made a 75 pip short on GU, pretty happy about it. Price seems to be nose diving. I think it should test support level of 1.6431.

Let me know what you think.

TheLegace.
Excellent trade, although I'm not quite sure how you entered there...
double top suggested a retrace, but didn't find the right setup for a short this morning.

Still looking for a long on AUD/USD, but might not happen anymore today
  • #8,003
  • Jun 12, 2009 7:45am Jun 12, 2009 7:45am
Quoting TheLegace
Made a 75 pip short on GU, pretty happy about it. Price seems to be nose diving. I think it should test support level of 1.6431.

Let me know what you think.

TheLegace.
for me the next support level on GBP/USD is 1.6240
  • #8,004
  • Jun 12, 2009 7:48am Jun 12, 2009 7:48am
Quoting islandtrader
for me the next support level on GBP/USD is 1.6240
4hr chart
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 31 KB
  • #8,005
  • Jun 12, 2009 7:53am Jun 12, 2009 7:53am
Quoting islandtrader
Excellent trade, although I'm not quite sure how you entered there...
double top suggested a retrace, but didn't find the right setup for a short this morning.

Still looking for a long on AUD/USD, but might not happen anymore today
Well initally it was a very small retracement about 1hr before london opened, I was able to catch a very early short, from 1.6620(high) to 1.6517(low), but for some reason I set Stop Loss to break even, probably not best idea and it ended up closing because I couldn't watch market(well asleep...).

Second time around there was a tiny retracement(not even a retracement), there was a bullish engulfing candle as it was trend was moving down. I figured since it was pretty much the first wave of breakout a stall on a very minor support level would be a good place to enter. From the picture I should have used swing, and intraday to chart previous days up trend, just got a bit lazy.

The price didn't retrace to any resistence level, but it did stall at minor support, maybe not best way to trade, but I guessed since it was early in breakout it might have worked ok. Hopefully not a bad idea for future, or maybe a fluke..

TheLegace.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.12.06.09.h1.gif Size: 22 KB
Click to Enlarge Name: gu.12.06.09.h1.2.gif Size: 22 KB
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,006
  • Jun 12, 2009 8:02am Jun 12, 2009 8:02am
I see... very nice trade indeed using the swing fib
  • #8,007
  • Jun 15, 2009 12:05pm Jun 15, 2009 12:05pm
I couldn't find any good trades today, market is ranging as it testing support level.

Good Luck Tommorow.

TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,008
  • Jun 16, 2009 6:43am Jun 16, 2009 6:43am
I made a long on GU, but it seemed very risky as there is a chance that market is becomming ranging. So I just closed it at breakeven, although price is moving up, it is excessively stalling and jumping 10-20 pips back and forward. I figured it would be least risky judgement call. Just wait for New York open looking to find retracement wherever price leads to...

Good Luck.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,009
  • Jun 16, 2009 9:37pm Jun 16, 2009 9:37pm
Quoting TheLegace
I made a long on GU, but it seemed very risky as there is a chance that market is becomming ranging. So I just closed it at breakeven, although price is moving up, it is excessively stalling and jumping 10-20 pips back and forward. I figured it would be least risky judgement call. Just wait for New York open looking to find retracement wherever price leads to...

Good Luck.

TheLegace.
Funny thing I went short around the same time and I close at BE. lol
  • #8,010
  • Jun 17, 2009 12:23am Jun 17, 2009 12:23am
Can this work on a lower time frame like 5,15,30 minutes.
  • #8,011
  • Jun 17, 2009 12:31am Jun 17, 2009 12:31am
Baffling to me that anyone has the patience to wade through thousands of pages of this stuff.
  • #8,012
  • Jun 17, 2009 1:07am Jun 17, 2009 1:07am
Quoting marciano
Can this work on a lower time frame like 5,15,30 minutes.

Everything works on anytimeframe...is just that the lower the timeframe the fast the thinking part is and the more experience it requires.
  • #8,013
  • Jun 17, 2009 1:07am Jun 17, 2009 1:07am
Quoting mbartles
Baffling to me that anyone has the patience to wade through thousands of pages of this stuff.
If you want to make money in trading you cant be lazzy
  • #8,014
  • Jun 17, 2009 3:50am Jun 17, 2009 3:50am
Quoting mbartles
Baffling to me that anyone has the patience to wade through thousands of pages of this stuff.
I would suggest taking a look at the videos to start, but then trading everyday and reading just a couple pages, you need time to develop experience as well. Right now I am developing experience and reading, I just got back into forex game, but my previous experience has helped tremendously, still working on my confidence but for last little while most of my judgements have been good, but getting scared and just closing out.

Again takes experience but also a bit of reading.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,015
  • Jun 17, 2009 6:04am Jun 17, 2009 6:04am
Quoting Shermenator
Everything works on anytimeframe...is just that the lower the timeframe the fast the thinking part is and the more experience it requires.
Shermenator. Thank You For Your Kindness.
  • #8,016
  • Jun 22, 2009 4:12am Jun 22, 2009 4:12am
I have a made a long on GU, so far up 10 pips, looks like an amazing trade if it makes it to T1 targets.

Here is setup.
Hope its good, let me know what you guys think.

TheLegace.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.22.06.09.h1.gif Size: 29 KB
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,017
  • Jun 22, 2009 5:15am Jun 22, 2009 5:15am
Quoting TheLegace
I have a made a long on GU, so far up 10 pips, looks like an amazing trade if it makes it to T1 targets.

Here is setup.
Hope its good, let me know what you guys think.

TheLegace.
I think it's a risky trade.GU is ranging for a while now and you went long at the top of the chanell.
I will take scalps for the day.
Remember Thexder pdf files from the begining of this thread?
  • #8,018
  • Jun 22, 2009 6:02am Jun 22, 2009 6:02am
Quoting speedarad
I think it's a risky trade.GU is ranging for a while now and you went long at the top of the chanell.
I will take scalps for the day.
Remember Thexder pdf files from the begining of this thread?
Ya I had noticed the price jumped from 53 pips down to 3, so I just closed it with a 4 pip trade, should have treated it as a scalp though. Still trying to find a footing in the market, markets really whipshawing.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #8,019
  • Jul 6, 2009 6:01am Jul 6, 2009 6:01am
Hey...are u guys still active in here?
  • #8,020
  • Jul 6, 2009 9:20am Jul 6, 2009 9:20am
Quoting southernmind
Hey...are u guys still active in here?
Not really mate....long time since I hear anything about you....hows everything?
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