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  • #121
  • Aug 19, 2009 1:44am Aug 19, 2009 1:44am
with 1 hour pointing down since tokyo, and day fib expansion pointing at 154.85 as max possible day range unless there is a stronger trend.

and with 4 hour support coming up in the same region, I would be extra careful with further shorts.

at 30 closed trades so far, i am more than worried to keep the expected payoff above 200
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  • #122
  • Aug 19, 2009 1:49am Aug 19, 2009 1:49am
quit all trades in this region

with 4 hour support around here, i do not wish to risk a spike
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  • #123
  • Aug 19, 2009 2:35am Aug 19, 2009 2:35am
Quoting forexlion
quit all trades in this region

with 4 hour support around here, i do not wish to risk a spike
Thanks for sharing. I still see room to run and test 154.00 (as per my previous post). So I prefer locking in some profit with a tight stop above current price and then "hope" (oh the dreaded word!) that the BOE minutes due in one hour help push the pair further down.
  • #124
  • Aug 19, 2009 3:45am Aug 19, 2009 3:45am
this is your MT4 statement in real account forexlion ?
High risk High return!
  • #125
  • Aug 19, 2009 5:06am Aug 19, 2009 5:06am
Quoting jesperweber
Thanks for sharing. I still see room to run and test 154.00 (as per my previous post). So I prefer locking in some profit with a tight stop above current price and then "hope" (oh the dreaded word!) that the BOE minutes due in one hour help push the pair further down.
Second close below the short-term support line on the H4 chart and the Heikin-Ashi Smoothed indicator has turned bearish.

I am trying to hold short for the lower channel line at around 152. H1 pice action, however, looks to be getting sluggish on the pair as well as GBPUSD and USDJPY, so I'm using a tight stop now.
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  • #126
  • Aug 19, 2009 5:39am Aug 19, 2009 5:39am
Hello Forexlion and all the particpants of this thread,

I´m short on the GJ, opened a position at 154.542 after Price broke "my" .50 fib from last upwards move(if anyone has interess on how I draw my fib´s please pm me so we can keep lions thread clear for his own opinions). My next support level is 154.077 MS2 (pivot levels) and 153.400 100% retracement from last downward move.
ATM +15 pips.

Happy trading to all of you.
  • #127
  • Aug 19, 2009 7:47am Aug 19, 2009 7:47am
Quoting jesperweber
Thanks for sharing. I still see room to run and test 154.00 (as per my previous post). So I prefer locking in some profit with a tight stop above current price and then "hope" (oh the dreaded word!) that the BOE minutes due in one hour help push the pair further down.
nice job, i actually closed all trades and went to sleep for the afternoon nap
  • #128
  • Aug 19, 2009 7:49am Aug 19, 2009 7:49am
Quoting Rednose
Hello Forexlion and all the particpants of this thread,

I´m short on the GJ, opened a position at 154.542 after Price broke "my" .50 fib from last upwards move(if anyone has interess on how I draw my fib´s please pm me so we can keep lions thread clear for his own opinions). My next support level is 154.077 MS2 (pivot levels) and 153.400 100% retracement from last downward move.
ATM +15 pips.

Happy trading to all of you.
go ahead use the thread, someone might learn something
  • #129
  • Aug 19, 2009 7:55am Aug 19, 2009 7:55am
Hey buddy...

Just found your thread. I think it's great you've started one and I'll be following and learning sir....
Ghost Rider - WWTBMD?
  • #130
  • Aug 19, 2009 8:02am Aug 19, 2009 8:02am
Hi all, we have seen the low for today. I expect traders to place a buy order at 154.4x area (just above the open of this present hour's candle). Expected TP for now should be around fib 100% level (157.4x area).
This is the upmove forexlion warned about and should go all the way except some kind of economic news invalidates our technical analysis.
Happy trading!
  • #131
  • Aug 19, 2009 8:15am Aug 19, 2009 8:15am
Closed at 154.00.
Waiting for support to test and eventually brake.
Let´s see...
  • #132
  • Aug 19, 2009 8:17am Aug 19, 2009 8:17am
Just saw your answer Lion, thank you for allowing me that I´ll do my best.

I´m following your posts!
  • #133
  • Aug 19, 2009 8:27am Aug 19, 2009 8:27am
Okay here is my next trade plan

GJ broke through the 4 hour support zone i mentioned earlier

so it should be testing monday's low, and if it breaks then lower and ventually 152 for this week.

lets see how this goes

bears have fun
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  • #134
  • Aug 19, 2009 8:43am Aug 19, 2009 8:43am
I beg to correct my previous analysis. Let's stay short till fib 38.2 level 152.94 before we go long and plan to exit our long at fib 50 level 154.88.
Happy trading!
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  • #135
  • Aug 19, 2009 9:06am Aug 19, 2009 9:06am
nice !!

glad i did not enter any trade as yet, still planning

but it seems 153.64 is indeed a strong support zone
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  • #136
  • Aug 19, 2009 9:34am Aug 19, 2009 9:34am
will this daily chart form a W as always ??
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  • #137
  • Aug 19, 2009 10:17am Aug 19, 2009 10:17am
since 1 hour macd is still down, don't get too trigger happy for the sudden spikes up,

patience pays more

your objective should be for consecutive wins, not just trading
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  • #138
  • Aug 19, 2009 11:05am Aug 19, 2009 11:05am
Quoting forexlion
patience pays more

your objective should be for consecutive wins, not just trading
You are right, I´m working on that myself, I believe I still got a lot to learn, that´s why I´m here.
Thank you for sharing your knowledge.
  • #139
  • Aug 19, 2009 11:35am Aug 19, 2009 11:35am
just whipped up an indicator

just a simple code to figure out which level needs to break for a trend change.

a 10 bar price average, the extra lines will vanish only on time frame change.
Attached File(s)
File Type: mq4 10baravgprice.mq4   3 KB | 298 downloads
  • #140
  • Aug 19, 2009 11:54am Aug 19, 2009 11:54am
Good analysis guys.

I expect GJ to test today's low/support. If it does that with a strong momentum, it will possibly break it to form a new low for the month.

Expect a new low this week before a strong up-side recovery.

cheers.
God is good
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