Trade closed manually.
GBPUSD
1. long @6026 closed @5996 (0.1)
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- #4,201
- Jan 5, 2010 4:40pm Jan 5, 2010 4:40pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,202
- Jan 5, 2010 4:42pm Jan 5, 2010 4:42pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,203
- Jan 5, 2010 5:35pm Jan 5, 2010 5:35pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Azim,
I know you are looking to go short on fibre so I thought I would offer my thoughts and a chart.
Price IMO is currently consolidating at an area of previous congestion and some interesting PPZ's - its also on the 200 MA.
And.....the trend is U-P(sorry I know I'm boring but thats the way I trade lol)
Also I still think the dollar is fundamentally weak and will remain weak until the FED starts thinking about raising rates and I don't think that will happen any time soon.
Price has tested the 1.5 area acouple of times now and I reckon it'll blast thru next time.
Also look at the daily RSI last time it was this low was Sept
BTW I'm not long yet but I will be soon methinks.
I know you are looking to go short on fibre so I thought I would offer my thoughts and a chart.
Price IMO is currently consolidating at an area of previous congestion and some interesting PPZ's - its also on the 200 MA.
And.....the trend is U-P(sorry I know I'm boring but thats the way I trade lol)
Also I still think the dollar is fundamentally weak and will remain weak until the FED starts thinking about raising rates and I don't think that will happen any time soon.
Price has tested the 1.5 area acouple of times now and I reckon it'll blast thru next time.
Also look at the daily RSI last time it was this low was Sept
BTW I'm not long yet but I will be soon methinks.
- #4,205
- Jan 6, 2010 6:40am Jan 6, 2010 6:40am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,206
- Jan 6, 2010 6:41am Jan 6, 2010 6:41am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,207
- Jan 6, 2010 7:11am Jan 6, 2010 7:11am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Azim,
I know you are looking to go short on fibre so I thought I would offer my thoughts and a chart.
Price IMO is currently consolidating at an area of previous congestion and some interesting PPZ's - its also on the 200 MA.
And.....the trend is U-P(sorry I know I'm boring but thats the way I trade lol)
Also I still think the dollar is fundamentally weak and will remain weak until the FED starts thinking about raising rates and I don't think that will happen any time soon.
I am looking to short euro unless 4505 gives way, then I woul be buying. I had a disclaimer .. here's the post:
1. http://www.forexfactory.com/showpost...postcount=4197
Anyway, I guess it depends on how one interpret the charts.
As of now, mine does not read bullish. I think it's because you've redrawn the long term trendline to the recent low that you see it as bullish. I have not done so as the 4505 cluster supp/res area is critical before I would redraw anything. Close above 4505 then the intermediate trend would be up, but long term is still down since price is still below the descending ltl. (attached chart below)
Here's the previous post that contained the same chart:
1. http://www.forexfactory.com/showpost...stcount=172039
Below is the followup. Have a good one stew & good luck with your trades
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- #4,208
- Jan 6, 2010 7:14am Jan 6, 2010 7:14am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Hi WB!
Want to know your plan re EU. - Here's what I see:
Flag on 4 h tf. BO triggered by ADP plus NFP. Targetting 50 Fibo.
What do you think?
I agree with the levels you highlighted over the long run. But I think there'll be stiff test @4150 level first.
Let's see how this goes. I've sold the first batch.
Good luck
Thank You
- #4,209
- Jan 6, 2010 7:45am Jan 6, 2010 7:45am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Hi stew
I am looking to short euro unless 4505 gives way, then I woul be buying. I had a disclaimer .. here's the post:
1. http://www.forexfactory.com/showpost...postcount=4197
Anyway, I guess it depends on how one interpret the charts.
As of now, mine does not read bullish. I think it's because you've redrawn the long term trendline to the recent low that you see it as bullish. I have not done so as the 4505 cluster supp/res area is critical before I would redraw anything. Close above 4505 then the intermediate...
My tl's are wide zones and I redraw them all the time if price reacts
Anyway - another chart - and I'm still out till after the news.
- #4,210
- Jan 6, 2010 8:11am Jan 6, 2010 8:11am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
And another one.
- #4,212
- Jan 6, 2010 9:07pm Jan 6, 2010 9:07pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,214
- Jan 7, 2010 2:37am Jan 7, 2010 2:37am
- | Joined Jun 2007 | Status: Still Learning :) | 1,203 Posts
- #4,215
- Jan 7, 2010 5:44am Jan 7, 2010 5:44am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,216
- Edited 6:18am Jan 7, 2010 5:59am | Edited 6:18am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Closed partial
GBPUSD
1. short @5991 closed @5909 (0.1)
Remaining trade unchanged.
GBPUSD
1. short @5991 sl @6095 (0.1)
(will catch u on skype a bit later, i have a vurus and skype seems to eat my system resourse and suck my internet connection.)
- #4,217
- Edited 6:23am Jan 7, 2010 6:09am | Edited 6:23am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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- #4,218
- Jan 7, 2010 6:36am Jan 7, 2010 6:36am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
yo brother..i just took a long around 1.59..based on the weekly strength around this area, first trade this year..
(will catch u on skype a bit later, i have a vurus and skype seems to eat my system resourse and suck my internet connection.)
good luck on your first trade!
but, a little caution bro, h4 is signalling more downside from what I see. Time will tell .. trade safe man
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- #4,219
- Jan 7, 2010 6:42am Jan 7, 2010 6:42am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
hey nav how's it going bro
good luck on your first trade!
but, a little caution bro, h4 is signalling more downside from what I see. Time will tell .. trade safe man
yes that true its risky, i tried to wait for PA at least on 4hr to be bullish however if it going up..i think this is the area where it should gain if it doesnt i will take a 100 hit..i just placed my stop incase internet connection fails..
