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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #2,661
  • Aug 27, 2009 3:34am Aug 27, 2009 3:34am
Quoting $maker
im looking short tho..just dont trust myself enough


Then, just wait & trade the breakout.
short below price close @6165 or long above price close @6270.
Safest bet
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Thank You
  • #2,662
  • Aug 27, 2009 3:37am Aug 27, 2009 3:37am
Quoting supremeChaos
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


Dunno if they have noticed it.
It helps tho, for preparation, contigency plans etc etc. I mean who knows.
But as you said, if this goes down the wire all the way to December, than you & me are going to be
Thank You
  • #2,663
  • Aug 27, 2009 3:39am Aug 27, 2009 3:39am
Quoting vishalshan
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..
Hey shan, yea I hate ranges too lol. But it's gonna be worth the wait methinks. Btw there were a few spikes at the top of that range. Sure think it's a good pick
Thank You
  • #2,664
  • Aug 27, 2009 3:40am Aug 27, 2009 3:40am
Quoting wormboy

Then, just wait & trade the breakout.
short below price close @6165 or long above price close @6270.
Safest bet
thanks for the advice.. you mean close on those levels on the hourly?or 4h?
  • #2,665
  • Aug 27, 2009 3:42am Aug 27, 2009 3:42am
Quoting davids
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.

Hi david, I think if price close below the ltl support @151 :
http://www.forexfactory.com/attachme...2&d=1251353151

I'll be looking towards 147 level next. If she bounce, I'll wait for price to close out that descending utl before deciding what to do next.
Weekly looks very bearish tho tbh.
Thank You
  • #2,666
  • Aug 27, 2009 3:43am Aug 27, 2009 3:43am
Quoting $maker
thanks for the advice.. you mean close on those levels on the hourly?or 4h?
On the hourly.
Thank You
  • #2,667
  • Aug 27, 2009 3:45am Aug 27, 2009 3:45am
Quoting wormboy
Hi david, I think if price close below the ltl support @151 :
http://www.forexfactory.com/attachme...2&d=1251353151

I'll be looking towards 147 level next. If she bounce, I'll wait for price to close out that descending utl before deciding what to do next.
Weekly looks very bearish tho tbh.

Thanks Mate
  • #2,668
  • Aug 27, 2009 4:05am Aug 27, 2009 4:05am
Quoting davids
Thanks Mate
don't mention it brother
Thank You
  • #2,669
  • Aug 27, 2009 5:45am Aug 27, 2009 5:45am
Hey WB,

Enjoy your breakfast!

Are we still in an uptrend on cable??? Guessing you won't be needing that bank loan from Bob! Sterling is soft, soft, soft, with positive data from the UK now failing to support the currency...

Cheers, Paul
  • #2,670
  • Aug 27, 2009 5:50am Aug 27, 2009 5:50am
Short a portion @ 6187 SL 6278

Waiting too long thinking that price will shoot up a lot..was away from system for some time and was able to enter here only..not bad when considering the target area ard 5978
  • #2,671
  • Aug 27, 2009 6:01am Aug 27, 2009 6:01am
Quoting vishalshan
Short a portion @ 6187 SL 6278

Waiting too long thinking that price will shoot up a lot..was away from system for some time and was able to enter here only..not bad when considering the target area ard 5978
Personally, I would have waited to see a clean break below yesterday's low. Overall, we are in a strong downtrend, though, so you should be okay, but your point of entry could've been better. Definitely not telling you how to trade, only giving an opinion.

If we see a sell-off in equities - even just a relatively minor correction - and other risk assets later today, then we may be gifted with some further downside moves on sterling and the other beta currencies, with the greenback and yen being the obvious beneficiaries, particularly the latter.

In recent days, the market is growing slightly more cautious regarding the global economic outlook, with concerns over China's intention to pulling back from their ultra-loose monetary policy. Beta assets, this week, have not been reacting positively to good news, which makes them more vulnerable to data that may disappoint to the downside, in my opinion.

Good luck.
  • #2,672
  • Aug 27, 2009 6:13am Aug 27, 2009 6:13am
Quoting gammase1
Personally, I would have waited to see a clean break below yesterday's low. Overall, we are in a strong downtrend, though, so you should be okay, but your point of entry could've been better. Definitely not telling you how to trade, only giving an opinion.

If we see a sell-off in equities - even just a relatively minor correction - and other risk assets later today, then we may be gifted with some further downside moves on sterling and the other beta currencies, with the greenback and yen being the obvious beneficiaries, particularly the latter....
gammase1, sure, I'm taking your inputs in right spirits. I'll be nursing the trade till it hits my comfort level so I would move SL to BE..
  • #2,673
  • Aug 27, 2009 7:28am Aug 27, 2009 7:28am
Quoting gammase1
Hey WB,

Enjoy your breakfast!

Are we still in an uptrend on cable??? Guessing you won't be needing that bank loan from Bob! Sterling is soft, soft, soft, with positive data from the UK now failing to support the currency...

Cheers, Paul

Hey Paul!

Lol yea Bob's a chump for wishing the worst on others.
How's trading treating you brother? All good I hope.
Cheers for the insight btw, always quality coming from you
Thank You
  • #2,674
  • Aug 27, 2009 7:35am Aug 27, 2009 7:35am
Quoting wormboy
Stop amended.

GBP JPY

1. short @155.27 sl @153.85 (0.1)
Stop amended.

GBP JPY

1. short @155.27 sl @152.85 (0.1)
Thank You
  • #2,675
  • Aug 27, 2009 9:09am Aug 27, 2009 9:09am
there goes dragon. dive! dive! wooohooo
Thank You
  • #2,676
  • Aug 27, 2009 10:16am Aug 27, 2009 10:16am
Quoting wormboy
Stop amended.

GBP JPY

1. short @155.27 sl @152.85 (0.1)
Added to position

GBP JPY

1. short @155.27 sl @152.85 (0.1)

2. short @151.34 sl @152.85 (0.1)
Thank You
  • #2,677
  • Aug 27, 2009 10:29am Aug 27, 2009 10:29am
thats a huge S/L... i was thinking about adding too.. now i wont

Quoting wormboy
Added to position

GBP JPY

1. short @155.27 sl @152.85 (0.1)

2. short @151.34 sl @152.85 (0.1)
  • #2,678
  • Aug 27, 2009 10:29am Aug 27, 2009 10:29am
Here's the reason for the new position taken.
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Click to Enlarge Name: gj1a.JPG Size: 68 KB
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  • #2,679
  • Aug 27, 2009 10:36am Aug 27, 2009 10:36am
Quoting $maker
thats a huge S/L... i was thinking about adding too.. now i wont
yup. I'm covered from the existing short @155.27 so even if this trade fails, I still stand to make some $
And it's now only 2usd/pip trade. No biggie
Thank You
  • #2,680
  • Aug 27, 2009 10:36am Aug 27, 2009 10:36am
Quoting wormboy
Here's the reason for the new position taken.
yeah i actually did see that... but now it seems more convincing coming from you... its still at 151.. i will go for 0.10
need some $$ today

haha.. 2usd/pip no biggie... hmmmmm whats the tgt u looking at!

3rd edit... do you think that if GBPUSD reverses..this would too?
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