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  • #12,121
  • Edited 3:41am Jun 16, 2009 3:18am | Edited 3:41am
Guys - I don't think it will help to try to 2nd guess what Cable will do right now with UK CPI due out in 12 mins... could push it either way. Ditto comment for Euro pairs until ZEW comes out in 42 mins time. We shall see. Cheers, Loudoniii

POSTSCRIPT - Took +37 PIPs from Cable 1-2-3 trade ... still wasn't the right setup, but made money !

Really, there is no way I should have been in the market at all on Cable prior to big news, I just got myself stuck there due to a bad 1-2-3 setup earlier, and got lucky.

The truth ?!? "Trading" before news is a pure lottery, and could go either way...

Much better to enter well away from news time and just play the good S+R levels - that's where the real money is.

Cheers, Loudoniii
  • #12,122
  • Jun 16, 2009 3:34am Jun 16, 2009 3:34am
GBPUSD good news made me lucky... Went out for +60 pips.
  • #12,123
  • Jun 16, 2009 3:35am Jun 16, 2009 3:35am
One to consider, 10746 is a significant daily level.
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  • #12,124
  • Jun 16, 2009 3:38am Jun 16, 2009 3:38am
If anyone noticed this....the longer and shorter term 50% retracements coming into play here - the final bounce came off of the shorter term one.
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  • #12,125
  • Edited 4:31am Jun 16, 2009 3:48am | Edited 4:31am
Quoting BillyRayValentine
Looking for a double bounce off of these lows here if we can get a failure sometime next week, or moving forward. 50% retracement confluence, support down to the 1.6230 level

Just an update on this trade up to +235 pips potentially after the breakout here
with about -35 pips drawdown - explanation in the above post for the final turning point.
  • #12,126
  • Jun 16, 2009 4:29am Jun 16, 2009 4:29am
Quoting BillyRayValentine
Looking for a secondary reaction from this area on any failures from the current highs. Also a good bump in the previous uptrend at this zone.
Good fib support for this one as well..
  • #12,127
  • Jun 16, 2009 5:08am Jun 16, 2009 5:08am
Quoting BillyRayValentine
If anyone noticed this....the longer and shorter term 50% retracements coming into play here - the final bounce came off of the shorter term one.
I had the lower 50% Fib. What TF was the higher one from?
  • #12,128
  • Jun 16, 2009 5:12am Jun 16, 2009 5:12am
Nice big 4hr level with 50% Fib on the radar. 11160
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  • #12,129
  • Jun 16, 2009 6:17am Jun 16, 2009 6:17am
anyone agree that GBP has hit resistence in the 1.6450 region which is also a fib number
  • #12,130
  • Jun 16, 2009 7:50am Jun 16, 2009 7:50am
Quoting tinybolt10
anyone agree that GBP has hit resistence in the 1.6450 region which is also a fib number
Rather 1.65 was the resistance. In what timeframe is that Fib drawn?
  • #12,131
  • Jun 16, 2009 7:51am Jun 16, 2009 7:51am
By the way, thank you, Steve. Your AAA article opened my eyes again . I made 190 pips today.
  • #12,132
  • Jun 16, 2009 7:54am Jun 16, 2009 7:54am
Quoting bumasoft
By the way, thank you, Steve. Your AAA article opened my eyes again . I made 190 pips today.

swwwwwwwwwweeeeet - no problemo happy to oblige
  • #12,133
  • Jun 16, 2009 8:48am Jun 16, 2009 8:48am
Yes thank you very much, it felt great to win one!!
  • #12,134
  • Jun 16, 2009 9:14am Jun 16, 2009 9:14am
Bryan,

This is a 30 minute chart of the EURUSD.

Can you see where this level might be a reasonable short trade?

SR
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  • #12,135
  • Jun 16, 2009 11:11am Jun 16, 2009 11:11am
Aussie looks interesting.

Great thread BTW - thanks Steve.

You can't see it on the pic but price is currently at the 50 fib.

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  • #12,136
  • Jun 16, 2009 1:24pm Jun 16, 2009 1:24pm
The levels I posted earlier on USDCAD and USDCHF didn't hit today but here's one that did.

A nice zone at the bottom of an inverted bucket with plenty of other confirmation too. Target was 16330 to form an inverted quasimodo but support was found around the 16370 local level so the quasi never materialised.

+120 pip maximum.
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  • #12,137
  • Jun 16, 2009 2:49pm Jun 16, 2009 2:49pm
Another 'Trade in the Zone' book condensed in a few fabulously well written paragraphs! I'm printing it up and making the reading of it part of my trading ritual before I open my computer.
Skillful trading and skillful writing is why I love to come to this thread.
Year of the Dragon Wise Choices-Good Fortune!
  • #12,138
  • Jun 16, 2009 4:03pm Jun 16, 2009 4:03pm
i'll just post some levels i'm awaiting for possible trades

short aud usd 0.8120-0.8133

1. previous double top just above....so short bias overall for the market at the moment- marked with rectangles on the chart
2. level is just above a weekend gap. so possibly we can expect exhaustion of the move that will eventually close the gap and a reversal somewhere above
3. good history. nice sr level overall
4. over and under pattern - shoulders and retracements marked on the chart

comments?
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  • #12,139
  • Jun 16, 2009 7:37pm Jun 16, 2009 7:37pm
I am looking to sell eurusd 1.3929 which is a strong area. Am in the buy from1.3803 but was too late to post. I also have sell pegged on eurjpy at 135.22 and am in buy on that at the moment. I dont have anything else I am interested in at the moment so will sit on those.
  • #12,140
  • Jun 16, 2009 11:38pm Jun 16, 2009 11:38pm
Quoting Tori
I am looking to sell eurusd 1.3929 which is a strong area. Am in the buy from1.3803 but was too late to post. I also have sell pegged on eurjpy at 135.22 and am in buy on that at the moment. I dont have anything else I am interested in at the moment so will sit on those.
Hey Tori
I am with you on the eur/usd resistance at 1.3929-1.3934 but i am not seeing the res. on eur/jpy at 135.22 could you post a picture of some kind to may-be point out some thing that i am not seeing
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