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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #6,021
  • Apr 7, 2010 6:19am Apr 7, 2010 6:19am
Quoting wormboy
Added to position

GBPUSD

1. short @5187 sl @5325 (0.2)
2. short @5223 sl @5325 (0.3)

Closed partial

GBPUSD

2. short @5223 closed @5144 (0.3)

Remaining stop amended.

GBPUSD

1. short @5187 sl @5290 (0.2)
Thank You
  • #6,022
  • Apr 7, 2010 6:22am Apr 7, 2010 6:22am
Quoting mjay
Wormie, should one buy above dpp and sell below dpp, what d best way to use d dpp?
hi mjay ..
like trev mentioned, different people have different approach. so i do not speak for everyone.
generally if at day open price open above dp, the tone is bullish & vice versa. However, there will be few occasions where you have to make an exception, ie patterns
Thank You
  • #6,023
  • Apr 7, 2010 6:48am Apr 7, 2010 6:48am
thanks guys, ill do more research on dpp.
  • #6,024
  • Apr 7, 2010 7:50am Apr 7, 2010 7:50am
Quoting nAVIN2007
yup i totally agree..my mother went into the bank on last week and was looking to take out an ISA and some women said to hear dont the interest rate are going to go up..i know its impossible for her to know such a thing but i cant help but think..we cant go much lower really..these prices are very good for cable..

i will certainly load up long! if this mother goes to 1.50..and looking to hold for a very long time..
I think, in my opinion, going long on Cable is a safe trade for a long term outlook. My point of view is, 'Will the GBP/USD reach 1.55 within the next 2 months', and in my opinion, there is a high probability of that, so I trade accordingly; with a very large room for movement.

For those who trade gold, this is a good page for fundamental understanding and views from the world's best: http://www.lbma.org.uk/docs/forecasts/forecast2010.pdf

All the best.
Probability Professor
  • #6,025
  • Apr 7, 2010 9:02am Apr 7, 2010 9:02am
okay, seems there's some interest in keeping cable up. who? dunno, don't care. just need to know their level of interest.
Previous bounce had taken price back to dp. We'll be keeping an eye on this & will just maintain the remaining short positions that were not booked until at least after helicopter ben's appearance or till the rate announcement tomorrow. No new positions will be taken before then, even if price bounce off dp.
Earlier diamond formation is currently valid. No long term buying for me for now.

Earlier charts:
1. http://www.forexfactory.com/showpost...postcount=6017

Below is the updated. Good luck all.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 31 KB
Thank You
  • #6,026
  • Apr 7, 2010 10:49am Apr 7, 2010 10:49am
Quoting wormboy
Ucad

1. long @0.9997 sl @0.9785 (0.1)
Just saw this entry of yours.....I must say excellent execution

now i know who is moving & shaking the market;-)

take care

Ali
Raza
  • #6,027
  • Apr 7, 2010 7:38pm Apr 7, 2010 7:38pm
Dear Wormboy,

I know that you are mostly trading GBP pairs and EUR/USD,
but I was looking at USD/CHF and noticed that this pair was reaching its March 25th high level.
Even though 4hr chart looks still bullish, do you think it will be a good idea to start building short positions?
I am also familiar with the fact that SNB did intervene late last week.

I just want opinions on this pair!

*also the price is near the long term trendline!
  • #6,028
  • Apr 8, 2010 2:55am Apr 8, 2010 2:55am
Quoting wormboy
Ucad

1. long @0.9997 sl @0.9785 (0.1)

Stop amended.

Ucad

1. long @0.9997 sl @1.0015 (0.1)
Thank You
  • #6,029
  • Apr 8, 2010 2:56am Apr 8, 2010 2:56am
Quoting shr5
Just saw this entry of yours.....I must say excellent execution

now i know who is moving & shaking the market;-)

take care

Ali
thanks ali ..
lucky guess
Thank You
  • #6,030
  • Apr 8, 2010 3:00am Apr 8, 2010 3:00am
Quoting perstoman
Dear Wormboy,

I know that you are mostly trading GBP pairs and EUR/USD,
but I was looking at USD/CHF and noticed that this pair was reaching its March 25th high level.
Even though 4hr chart looks still bullish, do you think it will be a good idea to start building short positions?
I am also familiar with the fact that SNB did intervene late last week.

I just want opinions on this pair!

*also the price is near the long term trendline!
hi perstoman

sorry .. i don't think i'm the right person to comment on this pair as I don't trade this pair & I do not have any historical data on the trades to draw conclusions to.
Probably someone else here who trades the pair would care to shed some light for our friend here? Thanks.
Thank You
  • #6,031
  • Apr 8, 2010 3:21am Apr 8, 2010 3:21am
Hey Wormie!

How goes it? I was sorry to read about the unanticipated reversal on your stops.

2 things.

Do u trade Swissy? I have had some great trades with this pair. Soley based on PA.

BUT - I would like to encourage you to trade FX gold. I think you would fair Very well w/ it although it is a commod, we are still trading spot.
X-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,032
  • Apr 8, 2010 3:28am Apr 8, 2010 3:28am
we're still sticking to shorts for now. diamond still valid
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 33 KB
Thank You
  • #6,033
  • Edited 4:13am Apr 8, 2010 4:02am | Edited 4:13am
Quoting wormboy
we're still sticking to shorts for now. diamond still valid
Hi wormie
Sticking to short guns too bro I have an entry at 1.52019 and just got out of an EurJpy short. I think Aussie will come down too.
GJ is short too for me, entry at 142.678.
"Hate the sin, love the sinner." - Gandhi
  • #6,034
  • Apr 8, 2010 4:58am Apr 8, 2010 4:58am
hey wormie , just a heads up the ole gbpusd just cant seem to wipe out the weekly and montly pp , sure you will be fine but tht is proving to be a pain to making much headway to the downside, cheers all
  • #6,035
  • Apr 8, 2010 5:06am Apr 8, 2010 5:06am
Quoting wormboy
I would ask you to close your trade but, since it does look toppy toppy .. I won't. Depending on your risk tolerance tho, if you can handle the drawdown, just put your stop at 94.70 and trail it for 20 pips.
However, if you're expanding your margin by doing so, I suggest you kill the trade. Your decision mate.
indeskey ... what decision did you make?
Thank You
  • #6,036
  • Apr 8, 2010 5:43am Apr 8, 2010 5:43am
Quoting TheGabriel
Hi wormie
Sticking to short guns too bro I have an entry at 1.52019 and just got out of an EurJpy short. I think Aussie will come down too.
GJ is short too for me, entry at 142.678.
hey bro

looks like you have some good trades going there
all the power to us i hope!
Thank You
  • #6,037
  • Apr 8, 2010 5:44am Apr 8, 2010 5:44am
Quoting digger1
hey wormie , just a heads up the ole gbpusd just cant seem to wipe out the weekly and montly pp , sure you will be fine but tht is proving to be a pain to making much headway to the downside, cheers all
hi dig,
thanks mate, i'm aware of that
Just playing out the diamond for now. I will close the trade if the diamond fails. Good luck to you !
Thank You
  • #6,038
  • Apr 8, 2010 5:46am Apr 8, 2010 5:46am
Quoting wormboy
Closed partial

GBPUSD

2. short @5223 closed @5144 (0.3)

Remaining stop amended.

GBPUSD

1. short @5187 sl @5290 (0.2)

Emergency stop removed.

GBPUSD

1. short @5187 sl @NA (0.2)


Okay showtime
Thank You
  • #6,039
  • Apr 8, 2010 5:52am Apr 8, 2010 5:52am
Quoting wormboy
Emergency stop removed.

GBPUSD

1. short @5187 sl @NA (0.2)


Okay showtime

Wormie... u brave man!!

still didn't have time to study this "diamond" pattern that u talked about. Will take my time for it. Not being as brave as u, i will stay out of trading for now and, considering that i reached my daily goal already (and that with just 1 good short on gbpusd earlier this morning), i will probably just stay out and see how it is going.

Just wanted to wish luck!
I don't want a job, i want money!
  • #6,040
  • Apr 8, 2010 6:51am Apr 8, 2010 6:51am
Quoting dario1002
Wormie... u brave man!!

still didn't have time to study this "diamond" pattern that u talked about. Will take my time for it. Not being as brave as u, i will stay out of trading for now and, considering that i reached my daily goal already (and that with just 1 good short on gbpusd earlier this morning), i will probably just stay out and see how it is going.

Just wanted to wish luck!

lol .. you call it brave, most call it stupid. I like yours better tho, very subtle. So thanks!

take your time to study chart patterns, they are very useful once you've mastered them. Easy to see continuations, reversal etc.
Here's one small description on the diamond that I find is easy for new guys to understand:
1. http://www.investopedia.com/articles...iamondBear.asp

Should give you a general idea. Good luck
Thank You
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