The WoRmHoLe | Page 90 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Better-than-the-wormhole 555 replies

Attachments: The WoRmHoLe
Exit Attachments

The WoRmHoLe

  • #1,781
  • Jul 16, 2009 2:44am Jul 16, 2009 2:44am
Hello Azim

How long do you leave your old trend lines on the chart and do you believe that they are of effect after new trend lines have been created?

I do not mean the horizontal S/L levels, they are significant all the time, but the slanted lines which you draw as in the above chart.
Regards
  • #1,782
  • Jul 16, 2009 3:05am Jul 16, 2009 3:05am
Quoting howard
Hello Azim

How long do you leave your old trend lines on the chart and do you believe that they are of effect after new trend lines have been created?
.
Hi Howard.

I leave the subtrendlines intact as long as the major trend on the higher timeframes does not turn. Example is if price close below the daily ltl, my h4 subtrendlines will be invalidated & I will look to remove them to avoid confusion.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud.JPG Size: 64 KB
Click to Enlarge Name: gu4.JPG Size: 89 KB
Thank You
  • #1,783
  • Jul 16, 2009 3:21am Jul 16, 2009 3:21am
Quoting wormboy
Remaining stop amended.

GBP JPY

1. long @151.54 sl @153.35 (0.2)

Okay. Be back London session.

Trade done.

GBP JPY

1. long @151.54 stopped @153.35 (0.2)
Thank You
  • #1,784
  • Jul 16, 2009 3:25am Jul 16, 2009 3:25am
Trade reversed.


GPY JPY

1. short @153.24 sl @155.20
Thank You
  • #1,785
  • Jul 16, 2009 5:14am Jul 16, 2009 5:14am
Quoting wormboy
Hi Howard.

I leave the subtrendlines intact as long as the major trend on the higher timeframes does not turn. Example is if price close below the daily ltl, my h4 subtrendlines will be invalidated & I will look to remove them to avoid confusion.
Great idea and great method of trading.
Wish you all the success.
Regards
  • #1,786
  • Jul 16, 2009 5:28am Jul 16, 2009 5:28am
Thanks howard. Good luck with your trading too sir
Thank You
  • #1,787
  • Jul 16, 2009 7:26am Jul 16, 2009 7:26am
Quoting wormboy
Trade reversed.


GPY JPY

1. short @153.24 sl @155.20

Trade closed.


GPY JPY

1. short @153.24 closed @154.07
Thank You
  • #1,788
  • Jul 16, 2009 7:31am Jul 16, 2009 7:31am
Here's why I closed the trade.
It was a careless trade to begin with because I placed it smack in no man's land.
The symmetrical formation and the double bottom was staring me down reminding me this could still go the other way. So I bailed.
I'll wait for the another setup as highlighted on the attached chart.
Flat for now.
Attached Image (click to enlarge)
Click to Enlarge Name: gj4.JPG Size: 90 KB
Thank You
  • #1,789
  • Jul 16, 2009 8:43am Jul 16, 2009 8:43am
Quoting wormboy
Here's why I closed the trade.
It was a careless trade to begin with because I placed it smack in no man's land.
The symmetrical formation and the double bottom was staring me down reminding me this could still go the other way. So I bailed.
I'll wait for the another setup as highlighted on the attached chart.
Flat for now.

crazy partterns going in this market....1hr on sell setup a breakout will confirmed this i am waiting.
we need new swing high and swing low to break this GJ stuff...i still on my shart at 154.67 sl 154.50..
1hr chart need some food and pop dead...
Attached Image (click to enlarge)
Click to Enlarge Name: chart_4.png Size: 44 KB
MY OPINION NOT FINANCIAL ADVISE
  • #1,790
  • Jul 16, 2009 11:39am Jul 16, 2009 11:39am
It's gonna be a long wait don
Thank You
  • #1,791
  • Jul 16, 2009 6:04pm Jul 16, 2009 6:04pm
Let's see if I can get it right this time. Placing a small order ( 1 minilot )based on the bearish daily close & will look to add further once h4 confirms downside movement.

GBP JPY

1. short @153.91 sl @155.70 (0.1)

Good luck
Thank You
  • #1,792
  • Jul 16, 2009 7:38pm Jul 16, 2009 7:38pm
Quoting wormboy
Let's see if I can get it right this time. Placing a small order ( 1 minilot )based on the bearish daily close & will look to add further once h4 confirms downside movement.

GBP JPY

1. short @153.91 sl @155.70 (0.1)

Good luck
this is my view check it out.

http://www.forexfactory.com/showpost...stcount=184753....
MY OPINION NOT FINANCIAL ADVISE
  • #1,793
  • Jul 17, 2009 2:21am Jul 17, 2009 2:21am
Quoting wormboy
Let's see if I can get it right this time. Placing a small order ( 1 minilot )based on the bearish daily close & will look to add further once h4 confirms downside movement.

GBP JPY

1. short @153.91 sl @155.70 (0.1)

Good luck

Stop amended

GBP JPY

1. short @153.91 sl @153.85 (0.1)


Added to position

GBP JPY

1. short @152.77 sl @155.15 (0.2)

Good luck
Thank You
  • #1,794
  • Jul 17, 2009 9:03am Jul 17, 2009 9:03am
Quoting wormboy
Stop amended

GBP JPY

1. short @153.91 sl @153.85 (0.1)


Added to position

GBP JPY

1. short @152.77 sl @155.15 (0.2)

Good luck

First trade stopped out.

GBP JPY

1. short @153.91 stopped @153.85 (0.1)

Remaining Trade unchanged

GBP JPY

1. short @152.77 sl @155.15 (0.2)
Thank You
  • #1,795
  • Jul 17, 2009 1:31pm Jul 17, 2009 1:31pm
hello mate, holding short too for the bus ride south!

you need to give us something special for your 3000th post

good luck trading
  • #1,796
  • Jul 17, 2009 1:52pm Jul 17, 2009 1:52pm
Quoting wormboy
First trade stopped out.

GBP JPY

1. short @153.91 stopped @153.85 (0.1)

Remaining Trade unchanged

GBP JPY

1. short @152.77 sl @155.15 (0.2)

Added to position.

GBP JPY

1. short @154.58 sl @155.15 (1.0)


Remaining Trade unchanged

GBP JPY

1. short @152.77 sl @155.15 (0.2)



Taking this over the weekend. Let's see if it holds.

Good luck & enjoy the weekend!
Thank You
  • #1,797
  • Edited 3:19pm Jul 17, 2009 3:05pm | Edited 3:19pm
Quoting wormboy
Added to position.

GBP JPY

1. short @154.58 sl @155.15 (1.0)


Remaining Trade unchanged

GBP JPY

1. short @152.77 sl @155.15 (0.2)



Taking this over the weekend. Let's see if it holds.

Good luck & enjoy the weekend!

Additional position stop amended.

GBP JPY

1. short @154.58 sl @154.43 (1.0)
lol what? I can't afford to be reckless carrying full lot trade over the weekend!


Remaining Trade unchanged

GBP JPY

1. short @152.77 sl @155.15 (0.2)
Thank You
  • #1,798
  • Jul 17, 2009 3:19pm Jul 17, 2009 3:19pm
oh btw, I was asked why I added to the last position.
here's the chart. sorry for the lack of information, it's the weekend and I'm getting a bit lazy. so you can draw the pole, the flag and the fallen army if you want

kthanksbye
Attached Image (click to enlarge)
Click to Enlarge Name: gjh1.JPG Size: 57 KB
Thank You
  • #1,799
  • Jul 17, 2009 6:45pm Jul 17, 2009 6:45pm
Guys beware, don't get stuck into the hole... LOL

Good week-end all!
  • #1,800
  • Jul 17, 2009 10:48pm Jul 17, 2009 10:48pm
The way i saw GU may open down gap 30-40 pips on Monday ~ 1.6300/10 and continue for south ~1.61/1.6050 area...Am still holding all my short from 1.6420/1.6350 and sell stop waiting @ 1.6250...

1.62 (watch out area) then 1.6150/1.6050 will be my first target...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 132 KB
Click to Enlarge Name: 2.JPG Size: 110 KB
7 traders viewing now