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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #2,981
  • Sep 18, 2009 12:00am Sep 18, 2009 12:00am
Quoting nAVIN2007
amigo are u seeing this, cause i bet u are.....
tony u the man! ...i just noticed it......azim be carefull brother my ass is thinking north possibly
AZIM JUST KIDDING ....i know right now u thinking "that brother has lost the plot" ...just highlighting it as a possible scenero...
lol bro I really hope you offloaded those bad long positions before I gets worse. My ass still see south!
Have a good one bro, be back in a few hours
Thank You
  • #2,982
  • Sep 18, 2009 12:24am Sep 18, 2009 12:24am
hi wormie
i deeply appreciate your charting skills and would like to learn more from you
there is something i don't understand in your GU4h chart
i guess you refer to the red triangle the "rising wedge" but i am wondering how did you draw the yellow line? that line seems not linking any significant highs or lows....
to me the blue triangle looks like more a wedge than the red one, but thats the rising channel, right?
i hope you have some more examples on rising wedge to share with me. many thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.JPG Size: 101 KB
  • #2,983
  • Sep 18, 2009 12:44am Sep 18, 2009 12:44am
Quoting pso
there is something i don't understand in your GU4h chart
i guess you refer to the red triangle the "rising wedge" but i am wondering how did you draw the yellow line? that line seems not linking any significant highs or lows....
to me the blue triangle looks like more a wedge than the red one, but thats the rising channel, right?
i hope you have some more examples on rising wedge to share with me. many thanks!
Attachment
Hi pso thanks

I can see why you are confused. I had posted the same chart here:
http://www.forexfactory.com/showpost...postcount=2929
The second chart was zoomed out to see it better ( not to mention a few screens to isolate the different timeframes for the charts would help you a great deal )
The yellow line you mentioned was from the 11th of March swing low & that trendline is very strong if you had been trading it (this is the same line which I longed from 46xx all the way to 59xx which I mentioned in my last reply to drfx) That line has very high significance actually.

I have attached below the same cable chart with a yellow line

Here are the list of the most recent trades I took shorting dragon which involved wedge breakout as the trade develops:
1. http://www.forexfactory.com/showpost...postcount=2857
2. http://www.forexfactory.com/showpost...postcount=2877
3. http://www.forexfactory.com/showpost...postcount=2901
4. http://www.forexfactory.com/showpost...postcount=2902
5. http://www.forexfactory.com/showpost...postcount=2910
6. http://www.forexfactory.com/showpost...postcount=2911
7. http://www.forexfactory.com/showpost...postcount=2941
8. http://www.forexfactory.com/showpost...postcount=2952
9. http://www.forexfactory.com/showpost...postcount=2971

Hope that helps. Laters
Attached Image (click to enlarge)
Click to Enlarge Name: gu4out.JPG Size: 82 KB
Thank You
  • #2,984
  • Sep 18, 2009 1:21am Sep 18, 2009 1:21am
wow those charts are helpful indeed. thanks a lot =)
i see trading this can be very profitable the action will be quick once the support on the right is broken. but the drawback is since the wedge is "rising", it will form higher highs for some time before tanking. so it is pretty dangerous to predict the top of the wedge and SL could be killed before the sharp free fall.
so basically you using other trendlines and fibs to help predict the top of the wedge right?
Quoting wormboy
Hi pso thanks

I can see why you are confused. I had posted the same chart here:
http://www.forexfactory.com/showpost...postcount=2929
The second chart was zoomed out to see it better ( not to mention a few screens to isolate the...
  • #2,985
  • Sep 18, 2009 2:01am Sep 18, 2009 2:01am
Quoting wormboy
Added to position

GBP USD

1. short @6474 sl @6600 (0.1)

2. short @6462 sl @6600 (0.2)
And there's the 6335 level mentioned earlier

Stops amended.

GBP USD

1. short @6474 sl @6430 (0.1)

2. short @6462 sl @6430 (0.2)
Thank You
  • #2,986
  • Sep 18, 2009 2:05am Sep 18, 2009 2:05am
Quoting pso
wow those charts are helpful indeed. thanks a lot =)
i see trading this can be very profitable the action will be quick once the support on the right is broken. but the drawback is since the wedge is "rising", it will form higher highs for some time before tanking. so it is pretty dangerous to predict the top of the wedge and SL could be killed before the sharp free fall.
so basically you using other trendlines and fibs to help predict the top of the wedge right?
you're welcome

It's not dangerous. Look at where I picked the short from, it's the weakness formed right at resistance. That so happens coincides with the rising wedge, odds were in my favour to sell, so just go for it.
Basically trendlines & formation yes.
Thank You
  • #2,987
  • Sep 18, 2009 2:18am Sep 18, 2009 2:18am
Here's an update on dragon. Yesterday's test to break topside failed hence the resumption of immediate trend which is down. Original 147 level remains the primary target atm once we break lower and create a new low.
Lets see.

Earlier chart :
http://www.forexfactory.com/showpost...postcount=2971
Attached Image (click to enlarge)
Click to Enlarge Name: gj4.JPG Size: 93 KB
Thank You
  • #2,988
  • Sep 18, 2009 2:58am Sep 18, 2009 2:58am
Quoting wormboy
Eur Usd

1. short @4731 sl @4850 (0.1)
Stop amended.

Eur Usd

1. short @4731 sl @4720 (0.1)
Thank You
  • #2,989
  • Sep 18, 2009 3:01am Sep 18, 2009 3:01am
Quoting wormboy
Stop amended.

Eur Usd

1. short @4731 sl @4720 (0.1)
EUR f&%&ing USD

What's wrong with you, Azim???
  • #2,990
  • Sep 18, 2009 3:43am Sep 18, 2009 3:43am
Quoting gammase1
EUR f&%&ing USD

What's wrong with you, Azim???

damn it I thought it'll go unnoticed! hahaha
Nah I saw a bearish divergence yesterday, thought I'd give it a shot for a small risk. So far so good. Lucky me!
Thank You
  • #2,991
  • Sep 18, 2009 8:28am Sep 18, 2009 8:28am
Quoting wormboy
Stop amended.

Eur Usd

1. short @4731 sl @4720 (0.1)
yay 11 pips!! lol What a fucking waste of time

Eur Usd

1. short @4731 stopped @4720 (0.1)
Thank You
  • #2,992
  • Sep 18, 2009 8:38am Sep 18, 2009 8:38am
Quoting wormboy
yay 11 pips!! lol What a fucking waste of time

Eur Usd

1. short @4731 stopped @4720 (0.1)
What did you fucking expect?!?!?!

Just kidding, mate. I also trade EURUSD, but it can be frustratingly slow.
  • #2,993
  • Sep 18, 2009 8:57am Sep 18, 2009 8:57am
Quoting gammase1
What did you fucking expect?!?!?!

Just kidding, mate. I also trade EURUSD, but it can be frustratingly slow.

yea bro, I've been trading dragon too much I forgot how frustratingly slow this slug can be!
Thank You
  • #2,994
  • Sep 18, 2009 9:11am Sep 18, 2009 9:11am
Quoting wormboy
And there's the 6335 level mentioned earlier

Stops amended.

GBP USD

1. short @6474 sl @6430 (0.1)

2. short @6462 sl @6430 (0.2)
Stops amended.

GBP USD

1. short @6474 sl @6385 (0.1)

2. short @6462 sl @6385 (0.2)
Thank You
  • #2,995
  • Sep 18, 2009 9:23am Sep 18, 2009 9:23am
Quoting wormboy
Stops amended.

GBP USD

1. short @6474 sl @6385 (0.1)

2. short @6462 sl @6385 (0.2)
excellent trading wormboy, beware the possibility of a HUGE bounce off 6250, its the 79% retr of the upswing, i will go long there for 50/80 pips, then will short again for 6150
  • #2,996
  • Sep 18, 2009 9:23am Sep 18, 2009 9:23am
Quoting wormboy
Stops amended.

GBP USD

1. short @6474 sl @6385 (0.1)

2. short @6462 sl @6385 (0.2)
Stops amended.

GBP USD

1. short @6474 sl @6365 (0.1)

2. short @6462 sl @6365 (0.2)
Thank You
  • #2,997
  • Sep 18, 2009 9:25am Sep 18, 2009 9:25am
Quoting tomaz55
excellent trading wormboy, beware the possibility of a HUGE bounce off 6250, its the 79% retr of the upswing, i will go long there for 50/80 pips, then will short again for 6150
cheers mate.
I won't go long, just looking to add from higher up when it happens. All the way to 6165 if possible baby
Good luck to you sir.
Thank You
  • #2,998
  • Sep 18, 2009 9:48am Sep 18, 2009 9:48am
taking this opportunity to wish all the Muslim traders here a SELAMAT HARI RAYA AIDILFITRI.

Francis
  • #2,999
  • Sep 18, 2009 10:11am Sep 18, 2009 10:11am
Quoting francish
taking this opportunity to wish all the Muslim traders here a SELAMAT HARI RAYA AIDILFITRI.

Francis
Thank you francis
Thank You
  • #3,000
  • Sep 18, 2009 10:49am Sep 18, 2009 10:49am
Quoting wormboy
GBP JPY

1. short @149.80 sl @151.65 (0.1)
Stop amended.

GBP JPY

1. short @149.80 sl @149.65 (0.1)
Thank You
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