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Better-than-the-wormhole 555 replies

Attachments: The WoRmHoLe
Exit Attachments

The WoRmHoLe

Quoting wormboy
Stop amended.

GBP USD

1. short @6420 sl @6410 (0.2)
Closed half.

GBP USD

1. short @6420 closed @6259 (0.1)

Remaining trade stop amended.

GBP USD

1. short @6420 sl @6380 (0.1)
Thank You
Quoting wormboy
Stop amended.

GBP JPY

1. short @155.27 sl @154.95 (0.1)

Stop amended.

GBP JPY

1. short @155.27 sl @154.45 (0.1)
Thank You
Oh goodie, I'm getting excited like a li'l girl now
Attached Image (click to enlarge)
Click to Enlarge Name: gjw.JPG Size: 67 KB
Thank You
Quoting wormboy
Closed half.

GBP USD

1. short @6420 closed @6259 (0.1)

Remaining trade stop amended.

GBP USD

1. short @6420 sl @6380 (0.1)
Remaining trade closed.

GBP USD

1. short @6420 closed @6172 (0.1)
Thank You
Hi WB,

Didnt know you had a thread going on here... loll would have made life easier i guess!

Anyways..thx for the msg..

cheers
Vishal
Wormboy,

I'm not very familiar with the dragon pattern. What is the best way to open a position on this type of pattern?

Do you place a stop sell order below the low of the previous bar once it has broken out on the weekly, or do you use a different method? Some people use Fib levels to enter, others use MAs, but I usually trade above/below a breakout point. I am here to learn, so I thought I would ask.

Thanks
hi vishal welcome

Good to have you with us. just post away when you feel like so, just no wild calls please.
There are some superb traders here too if you need help.

Have a good one.
Thank You
Quoting hiflyer
Wormboy,

I'm not very familiar with the dragon pattern. What is the best way to open a position on this type of pattern?

Do you place a stop sell order below the low of the previous bar once it has broken out on the weekly, or do you use a different method? Some people use Fib levels to enter, others use MAs, but I usually trade above/below a breakout point. I am here to learn, so I thought I would ask.

Thanks
Hello hiflyer.

Dragon is not a pattern. It's what I call the GBP JPY actually. Sorry for the confusion.

Personally I only use trendlines, s/r levels & candle formation to trade. Nothing else.
I consider price that close below or above a certain trendline or s/r level as a valid breakout/entry point. A pierce does not cut it for me.
You can browse through the thread and take a look at some of the charts attached with the trades taken to get a better picture.

Welcome to the hole
Thank You
WB..
you know any site where i could learn about reading candle formation...

thanks
Quoting $maker
WB..
you know any site where i could learn about reading candle formation...

thanks
Absolutely.
Here it is :
http://www.forexfactory.com/showthread.php?t=69786

This is hussin naiji's thread, masters trading room if you want to learn about candle formation, albeit on a larger timeframe.
Bones, Baz & peaches are resident members of that thread too. They are fabulous traders as well.
Have you mastered Steve Nison's book?
Absolute must if you want to trade seriously imho.

Thank You
Nope Never even Heard about the book...
googling it right now...

P.S. you just mentioned in the cable room about anywhere below 6270 being a good entry point...what tgt from there?
Quoting $maker
Nope Never even Heard about the book...
googling it right now...

P.S. you just mentioned in the cable room about anywhere below 6270 being a good entry point...what tgt from there?
5300







okay okay near term

1. 6165
2. 5950
Thank You
Never lose sight of the objective. Target 151 level achieved

Posted over a week ago, same chart : http://www.forexfactory.com/showpost...postcount=2412

For the time being we continue holding short position until seen fit to do otherwise.
Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: gj1.JPG Size: 77 KB
Thank You
Quoting wormboy
Stop amended.

GBP JPY

1. short @155.27 sl @154.45 (0.1)
Stop amended.

GBP JPY

1. short @155.27 sl @153.85 (0.1)
Thank You
Morning Azim!
Quoting $maker
Morning Azim!
Hey how's it going bro
Thank You
Quoting wormboy
Hey how's it going bro
Still reading material.. watching videos about TA..
Have no position open...lol and dont have the guts to try again after the last 5 days

im looking short tho..just dont trust myself enough


http://www.bloomberg.com/apps/news?p...d=ajlN4OMJUmOE THIS ARTICLE CONFUSES MY JUDGEMENT
Quoting wormboy
Hi shan.
I thought nobody will ever ask. The saying goes " history has taught us to be prepared". Did I get that right?
Sorry, I thought the the reply was befitting lol. The reason is sterling weakness and price patterns around this time of the year is too hard to ignore.....
Awesome observation.
has any1 u know noticed this aside from u & I?

i noticed these particular, seemingly repetitive candle patterns in gbpchf (but i havent posted a chart), while u noticed this on gbp index which is a better perspective, imo.

if this becomes a trend, it may lasts until December or next yr. Let's see
GM WB,

Still waiting tight for a good re-entry short point on cable. Hoping GBP news in a couple of hrs might give me the spike up to re-enter and waiting, waiting..
Morning WB

How you doing buddy

Do you see dragon going a lot lower I read this article this morning which you may fing of interest

GBP/JPY technicals; bearish outlook for return to 146.75

Thu, Aug 27 2009, 01:01 GMT
http://www.forexlive.com
Prices are now solidly below the 100-day MA and with the short-term trend having definitely turned bearish, a clean break below 152 should bring a swift retest of the 146.75 low from July. Initial resistance is at 153.15/35.
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