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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #2,341
  • Aug 13, 2009 12:45am Aug 13, 2009 12:45am
Quoting wormboy
again.

GBP JPY

1. short @158.82 sl @159.90

Trade closed.

GBP JPY

1. short @158.82 closed @158.53
Thank You
  • #2,342
  • Aug 13, 2009 12:50am Aug 13, 2009 12:50am
charts shows the reason for change of trade decision.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu1b.JPG Size: 91 KB
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  • #2,343
  • Aug 13, 2009 12:56am Aug 13, 2009 12:56am
Quoting wormboy
GBP USD

1. long @6517 sl @6380 (0.3)
I nearly fell out of my chair when I saw this.

I do agree though, the longer term tfs have been showing the dollar struggling to rise further - looks like we due for a retest of some the recent support levels on the usdlfx charts.

I still think cable will go down, but perhaps we're looking at Friday, or next week.
  • #2,344
  • Aug 13, 2009 1:46am Aug 13, 2009 1:46am
Quoting daffy
I nearly fell out of my chair when I saw this.

I do agree though, the longer term tfs have been showing the dollar struggling to rise further - looks like we due for a retest of some the recent support levels on the usdlfx charts.

I still think cable will go down, but perhaps we're looking at Friday, or next week.
you asshole

anyway I spotted it only after getting to my workstation at the office where I have my working charts. Lucky me.
That H1 ltl coincides with the daily, yesterday it was below that ltl the last time I saw before leaving my office and turned to the upside which I couldn't spot while being at home yesterday so I had to reverse quickly. Lucky me it was only a small loss. I still think it needs to close above 6600 level to power up further tho.
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  • #2,345
  • Aug 13, 2009 1:57am Aug 13, 2009 1:57am
Quoting wormboy
you asshole
Don't sugar coat it, say what you mean!

Been having this discussion about the $ turning around again in the daily candlestick thread. It looks like the $ wants to retest previous areas of resistance now turned support. I think we'll need to keep our eye on the $LFX and see how it reacts to key levels on its way down.
  • #2,346
  • Aug 13, 2009 2:02am Aug 13, 2009 2:02am
GBP JPY

1. long @159.01 sl @155.90 (0.1)

Good luck
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  • #2,347
  • Aug 13, 2009 2:05am Aug 13, 2009 2:05am
Quoting daffy
Don't sugar coat it, say what you mean!

Been having this discussion about the $ turning around again in the daily candlestick thread. It looks like the $ wants to retest previous areas of resistance now turned support. I think we'll need to keep our eye on the $LFX and see how it reacts to key levels on its way down.
lol
yea, the thing is yesterday I saw the usdlfx turned, but so did the gbplfx so I couldn't use that at the time to help me decide you see. Maybe it's because of the runup towards fomc .. beats me
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  • #2,348
  • Aug 13, 2009 2:08am Aug 13, 2009 2:08am
Spot on with the 6600 level barrier needing to be broken for further up move. That's an area malcolmb identified too.

We also seemed to bounce off a gj trendline from the top, but I'm confident we're going to retest and break through it, we're just gathering some more steam.
  • #2,349
  • Aug 13, 2009 2:10am Aug 13, 2009 2:10am
Quoting wormboy
lol
yea, the thing is yesterday I saw the usdlfx turned, but so did the gbplfx so I couldn't use that at the time to help me decide you see. Maybe it's because of the runup towards fomc .. beats me
This whole week seems to have been geared around making money based on the fomc statement. Knock it down first, buy at discount, mark it up, wait for fomc statement, spike it up to take out the stops, spike it down to take out the stops below, carry on back up again.
  • #2,350
  • Aug 13, 2009 2:27am Aug 13, 2009 2:27am
Quoting daffy
Been having this discussion about the $ turning around again in the daily candlestick thread. It looks like the $ wants to retest previous areas of resistance now turned support. I think we'll need to keep our eye on the $LFX and see how it reacts to key levels on its way down.
Maybe you can help me out... I've been looking for a free feed for the dollar index. If you think usdlfx can serve as such index, could you provide a link?

Kind regards,

jesper
  • #2,351
  • Aug 13, 2009 2:33am Aug 13, 2009 2:33am
Quoting jesperweber
Maybe you can help me out... I've been looking for a free feed for the dollar index. If you think usdlfx can serve as such index, could you provide a link?

Kind regards,

jesper
I can do better than that, I can provide you a link to a metatrader dollar index.

www.forexltd.co.uk

I believe they also have some us indexes too.

If you're interested in something similar for other currencies, the aforementioned lfx charts, here's a link to a post that describes how to set them up

http://www.forexfactory.com/showpost...postcount=5796
  • #2,352
  • Aug 13, 2009 2:35am Aug 13, 2009 2:35am
Quoting daffy
Spot on with the 6600 level barrier needing to be broken for further up move. That's an area malcolmb identified too.

We also seemed to bounce off a gj trendline from the top, but I'm confident we're going to retest and break through it, we're just gathering some more steam.
yup, looks like it
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  • #2,353
  • Aug 13, 2009 2:37am Aug 13, 2009 2:37am
Quoting jesperweber
Maybe you can help me out... I've been looking for a free feed for the dollar index. If you think usdlfx can serve as such index, could you provide a link?

Kind regards,

jesper
just download the sigtrader4 platform. It's bundled with a bunch of goodies
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  • #2,354
  • Aug 13, 2009 3:04am Aug 13, 2009 3:04am
daffy, wormboy,

thanks for the links etc., i'll give it a shot.

and thanks even more for sharing your trading insights here, much appreciated.

jesper
  • #2,355
  • Aug 13, 2009 3:41am Aug 13, 2009 3:41am
Quoting jesperweber
daffy, wormboy,

thanks for the links etc., i'll give it a shot.

and thanks even more for sharing your trading insights here, much appreciated.

jesper


feel free to post your thoughts & analysis whenever you feel like so buddy
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  • #2,356
  • Aug 13, 2009 4:26am Aug 13, 2009 4:26am
Quoting wormboy
GBP USD

1. long @6517 sl @6380 (0.3)
closed partial.

GBP USD

1. long @6517 closed @6592 (0.1)

Remaining position unchanged.

GBP USD

1. long @6517 sl @6380 (0.2)
Thank You
  • #2,357
  • Aug 13, 2009 5:01am Aug 13, 2009 5:01am
Quoting wormboy
closed partial.

GBP USD

1. long @6517 closed @6592 (0.1)

Remaining position unchanged.

GBP USD

1. long @6517 sl @6380 (0.2)

  • #2,358
  • Aug 13, 2009 5:17am Aug 13, 2009 5:17am
Quoting wormboy
just download the sigtrader4 platform. It's bundled with a bunch of goodies
WB, thanks for the link. I was searching the last days for a good dollar index chart too and voila, here it is ...

I really appreciate that you are sharing your thoughts and chart setups, it helped me tremendously in improving my trading skills by comparing them with my own trade setups. I trade with fibs and longer term tls, your spider tls are a great addition to my "conventional" ones. Still have to figure out some of the details how to draw them correctly.
  • #2,359
  • Aug 13, 2009 5:25am Aug 13, 2009 5:25am
Quoting nAVIN2007
nav!
how are the trades coming bro
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  • #2,360
  • Aug 13, 2009 5:39am Aug 13, 2009 5:39am
Quoting ikke
WB, thanks for the link. I was searching the last days for a good dollar index chart too and voila, here it is ...

I really appreciate that you are sharing your thoughts and chart setups, it helped me tremendously in improving my trading skills by comparing them with my own trade setups. I trade with fibs and longer term tls, your spider tls are a great addition to my "conventional" ones. Still have to figure out some of the details how to draw them correctly.
hey man don't mention it.
there is no right or wrong in drawing trendlines as far as I'm concerned really. trendline drawing to me is subjective, for example some would consider a breach of trendline makes it invalid, I don't. Some consider a break/breach without closing clear above/below a utl/ltl as a valid entry point, I don't.
I guess it's just a matter of practise and determining what works for you. At least that's how I do it, I don't really listen to other people when my lucky lines are concerned, since it's been serving me well & I don't need to complicate things further.
Btw, feel free to post your thoughts and analysis here man, it's no issue
Have a good one!
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