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  • #141
  • Aug 19, 2009 12:02pm Aug 19, 2009 12:02pm
went long with 156.30 tp
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  • #142
  • Aug 19, 2009 3:33pm Aug 19, 2009 3:33pm
155.500 is showing huge resistance power...I´m long too 157.00 TP.

I´m starting to think we won´t reach that level...

Patience..
  • #143
  • Aug 19, 2009 5:36pm Aug 19, 2009 5:36pm
Quoting forexlion
went long with 156.30 tp
duh huh. seems 156.30 is too less as a target, i am upgrading it to 157.95 / 158

or maybe, i will just ride the 1 hour swing without targets to see how much it can go. This seems to be a long haul coming up.
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  • #144
  • Aug 19, 2009 5:50pm Aug 19, 2009 5:50pm
Quoting forexlion
duh huh. seems 156.30 is too less as a target, i am upgrading it to 157.95 / 158

or maybe, i will just ride the 1 hour swing without targets to see how much it can go. This seems to be a long haul coming up.
made it 4 trades, with each trade closing on a daily expansion fib level as it is achieved, should any level prove to be a bounce point on 1 hour, all trades will get closed.
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  • #145
  • Aug 19, 2009 6:30pm Aug 19, 2009 6:30pm
Quoting forexlion
duh huh. seems 156.30 is too less as a target, i am upgrading it to 157.95 / 158

or maybe, i will just ride the 1 hour swing without targets to see how much it can go. This seems to be a long haul coming up.
Hi Lion,
How much drawndown do you expect?
  • #146
  • Aug 19, 2009 6:35pm Aug 19, 2009 6:35pm
Quoting Rednose
Hi Lion,
How much drawndown do you expect?
20 to 30 pips max from my positions

since i opened at day open level [Girlfriend] and weekly fib expansion is already bull, i doubt if there will be any drawdown to my positions
  • #147
  • Aug 19, 2009 6:39pm Aug 19, 2009 6:39pm
Hi Lion. I will wait for a 5min. candle to close above 155.60 area to possibly enter long.
  • #148
  • Aug 19, 2009 6:50pm Aug 19, 2009 6:50pm
The simplest ever rule in forex is

 

  1. Above day open - buy
  2. Below day open - sell

just that, you simply do not need any iindicators or candles to work that rule, and it works like a charm.

  • #149
  • Aug 19, 2009 7:23pm Aug 19, 2009 7:23pm
Quoting mojo
Hi Lion. I will wait for a 5min. candle to close above 155.60 area to possibly enter long.
anything that works for you

i just share my actual trades on here
  • #150
  • Aug 19, 2009 7:39pm Aug 19, 2009 7:39pm
Forexlion,

May I ask about the day open that you are refering to, is that Tokyo , GMT or NY close?

Thank you,

Don
  • #151
  • Aug 19, 2009 7:39pm Aug 19, 2009 7:39pm
Hi, Forexlion, thanks for setting up this thread. I placed a small long at 155.67 with a TP of 156.38. I have set a trailing stop of 35, is this too tight?
  • #152
  • Aug 19, 2009 7:51pm Aug 19, 2009 7:51pm
Quoting a5h
Hi, Forexlion, thanks for setting up this thread. I placed a small long at 155.67 with a TP of 156.38. I have set a trailing stop of 35, is this too tight?
sir

i am just a humble trader, i cannot advice on trades specifically

you need to choose your own SL to suit your risk appetite.

i can only share trading ideas, rest is for you to decide based on your charts, safterall its your money.
  • #153
  • Aug 19, 2009 7:53pm Aug 19, 2009 7:53pm
and 30 min chart is driving me crazy !!!

even though i know i made a good decision to go long, 30 min is nagging me
  • #154
  • Aug 19, 2009 8:09pm Aug 19, 2009 8:09pm
I just meant what trailing stop is common for GBP/JPY, I am used to trading cable, by the looks of the chart i may not have to worry about that though!
  • #155
  • Aug 19, 2009 8:13pm Aug 19, 2009 8:13pm
I'm in short at the moment.

Just woke up, and had my pending short order triggered at 156.00, which is my 61.8% Fib on the H4 timeframe.

Target price is still open.

I've been reading ForexLion's posts quite a lot, so the fact that he's in long makes me feel edgy about my short.

Will evaluate at the first sign of trouble, and see where price action takes this.
  • #156
  • Aug 19, 2009 8:21pm Aug 19, 2009 8:21pm
it is USD which is dictating this move currently

seem the RBA news has something to do with this
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  • #157
  • Aug 19, 2009 8:22pm Aug 19, 2009 8:22pm
Lion, I would like to say I have learned alot from your posts over the past year. Thank you for sharing your trade ideas. I buy/sell at my own risk, but it helps to hear your reasonings and compare them to mine. Thank you for the education along the way!
Dr. C
  • #158
  • Aug 19, 2009 8:27pm Aug 19, 2009 8:27pm
crazy bitch

for one moment she had me worried about my longs
  • #159
  • Aug 19, 2009 8:30pm Aug 19, 2009 8:30pm
Quoting forexlion
crazy bitch

for one moment she had me worried about my longs
closed all longs @ +18, dun wanna ride against 30 min, let her dump once first
  • #160
  • Aug 19, 2009 8:30pm Aug 19, 2009 8:30pm
Quoting forexlion
and 30 min chart is driving me crazy !!!

even though i know i made a good decision to go long, 30 min is nagging me
I'm also LONG, and now it's backing up
My edge ===> Patience
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