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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #3,801
  • Nov 8, 2009 4:12am Nov 8, 2009 4:12am
Azim and all,

You probly already seen this but if not this might interest you...

http://www.forexfactory.com/showpost...&postcount=346
  • #3,802
  • Nov 8, 2009 6:10am Nov 8, 2009 6:10am
Hi ,I wonder do you believe thats the reason the pound has been bullish ?

Quoting stewrigh
Azim and all,

You probly already seen this but if not this might interest you...

http://www.forexfactory.com/showpost...&postcount=346
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,803
  • Nov 8, 2009 7:47am Nov 8, 2009 7:47am
Quoting Bones
Hi ,I wonder do you believe thats the reason the pound has been bullish ?
i find u can find any reason...its nature i guess when price goes up, we look in the news to see what would have made it go up..or even down..variables variables aye tone

like being long in the market and only seeing the small ticks...LOL
  • #3,804
  • Nov 8, 2009 7:51am Nov 8, 2009 7:51am
Quoting wormboy
From what I see, this can still go either way tbh.
I will stay away from dragon for the time being. PA seems to be in a bottleneck and breakout is imminent either way you look at it. Question is which way?
From chart a. attached below there is an inverted H&S formation waiting to play out topside. On chart b. there's the complex H&S formation waiting to play out downside. Whichever way this thing breaks out, it's gonna be big, quite possibly a thousand pip move either way.
I'll wait for the breakout methinks.

with regards to head n shoulder..not valid bro because the right shoulder is lower than left..means pressure to sell is higher..

catcha in a bit homie
  • #3,805
  • Nov 8, 2009 8:05am Nov 8, 2009 8:05am
Quoting dstryr
I think the path next week is going to be pretty simple...Look at how dragon and dow jones are looking.

Im holding a net short on Dragon from around 150.35. Looking at targets of 146, 145.50, 143.20, and eventually 139.00.
nice dennis..yes id say that is valid head n shoulder..thank u for chart u know this is first time i notice it no wonder u guys thinking it gonna fall shall watch the support for a break
  • #3,806
  • Nov 8, 2009 8:08am Nov 8, 2009 8:08am
Yes ,Nav no doubt I often wonder whats happening ,but really its a waste of time dont you think ? I find conspiracy theory's really rather funny especially a retail traders conversation with a trader in a coffee bar....

Quoting nAVIN2007
i find u can find any reason...its nature i guess when price goes up, we look in the news to see what would have made it go up..or even down..variables variables aye tone

like being long in the market and only seeing the small ticks...LOL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,807
  • Nov 8, 2009 8:13am Nov 8, 2009 8:13am
Quoting Bones
Yes ,Nav no doubt I often wonder whats happening ,but really its a waste of time dont you think ? I find conspiracy theory's really rather funny especially a retail traders conversation with a trader in a coffee bar....

absolutely my friend..that guy in a coffeee bar is just one trader and his belief..it only take one person to think differently for the market to go the other way...so yur right its pointless and funny as well

been doing a lot of work on my mind buddy..hopefully i might have got to the stage where i have detached myself from capital..

will know in around a month i think
  • #3,808
  • Nov 8, 2009 9:15am Nov 8, 2009 9:15am
me thinks whatever comes should be traded... me like 1000pips either way as wormie says

dollar is sitting back on 61.8 fib which it pierced a couple of times thou

pound trapped between a tight sup res range

SP500 and DOW look they are back on the track up and the apex is some days away

ehm pretty ambivalent eh... given the strong correlation to stocks the bias is rather bullish...but again trade whatever comes and be ready to say good bye to any biases
  • #3,809
  • Nov 8, 2009 1:43pm Nov 8, 2009 1:43pm
Quoting nAVIN2007
with regards to head n shoulder..not valid bro because the right shoulder is lower than left..means pressure to sell is higher..

catcha in a bit homie

Not sure I understand this Nav Bcos the right shoulder is lower - pressure to sell is higher.

That works for me!!! H&S is is a sell signal so I expect it to go down..
  • #3,810
  • Nov 8, 2009 1:47pm Nov 8, 2009 1:47pm
Quoting nAVIN2007
i find u can find any reason...its nature i guess when price goes up, we look in the news to see what would have made it go up..or even down..variables variables aye tone

like being long in the market and only seeing the small ticks...LOL

So if the BOE hiked rates tom you would ignore it lol...

Whether we like it or not news does drive the markets.

Unfortunately for us, by the time we hear it, its too late.

Ever heard the old adage - buy the rumour - sell the fact...
  • #3,811
  • Nov 8, 2009 1:49pm Nov 8, 2009 1:49pm
Quoting stewrigh
Not sure I understand this Nav Bcos the right shoulder is lower - pressure to sell is higher.

That works for me!!! H&S is is a sell signal so I expect it to go down..

sorry stew...i meant the inverse head n shoulder

the right should be higher than the left and for a head n shoulder the right should be lower than the left..hopefully thats more clear

was my fault

see in the chart.. right side is lower..means formation doesnt fit the criteria for upward movement from statistical point of view
Attached Image
  • #3,812
  • Nov 8, 2009 1:58pm Nov 8, 2009 1:58pm
Quoting stewrigh
So if the BOE hiked rates tom you would ignore it lol...

Whether we like it or not news does drive the markets.

Unfortunately for us, by the time we hear it, its too late.

Ever heard the old adage - buy the rumour - sell the fact...

if they didnt id long straight away...but i dont think it will happen yet
  • #3,813
  • Nov 8, 2009 2:15pm Nov 8, 2009 2:15pm
Quoting nAVIN2007
if they didnt id long straight away...but i dont think it will happen yet

No you're absolutely right....but

I don't understand why the pound is going up, unless someone is manipulating the price.

And if a hedge fund was trying to get a better price for Cadbury - forcing the pound up first would make sense.

Yeah I know its only heresay or a rumour but you never know!!

Anyway I'll be watching PA tom just in case my short bias is confirmed.
  • #3,814
  • Nov 8, 2009 2:38pm Nov 8, 2009 2:38pm
Quoting nAVIN2007
sorry stew...i meant the inverse head n shoulder

the right should be higher than the left and for a head n shoulder the right should be lower than the left..hopefully thats more clear

was my fault

see in the chart.. right side is lower..means formation doesnt fit the criteria for upward movement from statistical point of view

Never ceases to amaze me how 2 traders can look at the same chart and see something completely different.

I think this is what Azim is looking at...but I could be wrong.

Also - H&S happens at tops and Geppy has been moving up.

The longer term tend - big boss, however is down..

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.jpg Size: 118 KB
  • #3,815
  • Nov 8, 2009 3:14pm Nov 8, 2009 3:14pm
Well if the intrest rate went up that would make the pound more attactive ?Really no one manipulating price or there is no conspirecy or stop run none of the above at all ,my charts say pound will rise ,but it is possible the $ will too
Also news drives prices but new release is old news (real money knows result) so its there in the chart ,just gotta find it

Quoting stewrigh
So if the BOE hiked rates tom you would ignore it lol...

Whether we like it or not news does drive the markets.

Unfortunately for us, by the time we hear it, its too late.

Ever heard the old adage - buy the rumour - sell the fact...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,816
  • Nov 8, 2009 4:15pm Nov 8, 2009 4:15pm
Quoting wormboy
Reinforced stops.

GBP USD

1. short @6458 sl @6660 (0.1)

2. short @6403 sl @6660 (0.1)

3. short @6387 sl @6660 (0.1)

4. short @6510 sl @6660 (0.1)

5. short @6606 sl @6660 (0.6)


Welp, been a good week for me.
The same cant be said for cable lol.
Overall I am up by 2.5% this week, about usd1506.25 to be precise. The total stop loss accumulated for this cable trade is usd1206.00 So that leaves me still about 300usd in profit IF this trade fails. I can afford to be biased stew
I am just pointing this out to some of the new friends...

Not good. Thought it would've lasted a bit longer than that lol. No serious harm done nonetheless.

GBP USD

1. short @6458 stopped @6660 (0.1)

2. short @6403 stopped @6660 (0.1)

3. short @6387 stopped @6660 (0.1)

4. short @6510 stopped @6660 (0.1)

5. short @6606 stopped @6660 (0.6)

Flat for now. Be back later
Thank You
  • #3,817
  • Nov 8, 2009 5:17pm Nov 8, 2009 5:17pm
Hi Wormboy,
Thanks again for sharing these with us.

I am flat since thursday. I have 2 very interesting trades running on a demo right now that I will not close as of yet. Will share upon exit. These are already a week old.

In any case I think we need to see either of the directions presented and confirmed as we had discussed in order to make great entry. Just an idea.
Luck to you my friend.
X-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,818
  • Edited 10:57pm Nov 8, 2009 10:45pm | Edited 10:57pm
GBP JPY

1. short @150.58 sl @150.95 tp @149.50
Thank You
  • #3,819
  • Nov 8, 2009 11:33pm Nov 8, 2009 11:33pm
Quoting wormboy
GBP JPY

1. short @150.58 sl @150.95 tp @149.50
I took it at 150.81, but your SL is great, it should not be touch, if it continues with the downtrend pattern.
  • #3,820
  • Nov 9, 2009 1:23am Nov 9, 2009 1:23am
Quoting wormboy
GBP JPY

1. short @150.58 sl @150.95 tp @149.50

Trade stopped out.

GBP JPY

1. short @150.58 stopped @150.95


Welp, that was a bit daft. Should've waited for the daily breakout as originally planned
Thank You
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