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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #6,281
  • Apr 23, 2010 3:59am Apr 23, 2010 3:59am
Wormie

i will wait for the next hourly candle and if the PA is good, i will go short again on eurusd... how do u think??? we just reached the 50 fib retracement from yesterday's drop and i see that we are right belove some support @ 3320

How do u see it??
I don't want a job, i want money!
  • #6,282
  • Apr 23, 2010 4:07am Apr 23, 2010 4:07am
Quoting dario1002
Wormie

i will wait for the next hourly candle and if the PA is good, i will go short again on eurusd... how do u think??? we just reached the 50 fib retracement from yesterday's drop and i see that we are right belove some support @ 3320

How do u see it??

you might want to have your dx chart up bro.
so much strength on eu atm, I wouldn't dare to short yet tbh, well unless you're after 5-10 pips
Thank You
  • #6,283
  • Apr 23, 2010 4:08am Apr 23, 2010 4:08am
Quoting wormboy
you might want to have your dx chart up bro.
so much strength on eu atm, I wouldn't dare to short yet tbh, well unless you're after 5-10 pips

ok... do u know where i can get this Dx chart??? i see u often refer to this, but with my broker i don't have it...
I don't want a job, i want money!
  • #6,284
  • Apr 23, 2010 4:15am Apr 23, 2010 4:15am
Quoting dario1002
ok... do u know where i can get this Dx chart??? i see u often refer to this, but with my broker i don't have it...
yea ... I use mt4 from forex ltd for the dx chart.

here's what the dx looks like right now. mind you, this is the D1
see that bounce off 81.4? Well I pulled the trigger for a short scalp on eu.
64 bucks in 6 minutes lol. now I feel a bit better about not carrying on with that long earlier
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dxd.gif Size: 23 KB
Click to Enlarge Name: eum1.jpg Size: 35 KB
Thank You
  • #6,285
  • Apr 23, 2010 4:19am Apr 23, 2010 4:19am
Quoting wormboy
yea ... I use mt4 from forex ltd for the dx chart.

here's what the dx looks like right now. mind you, this is the D1
see that bounce off 81.4? Well I pulled the trigger for a short scalp on eu.
64 bucks in 6 minutes lol. now I feel a bit better about not carrying on with that long earlier


Azim pls can you post me the pivot EA on your usd/jpy chart
MY OPINION NOT FINANCIAL ADVISE
  • #6,286
  • Edited 1:25pm Apr 23, 2010 4:34am | Edited 1:25pm
Quoting donfriday
Azim pls can you post me the pivot EA on your usd/jpy chart
here you go don
Thank You
  • #6,287
  • Apr 23, 2010 4:40am Apr 23, 2010 4:40am
Quoting wormboy
you might want to have your dx chart up bro.
so much strength on eu atm, I wouldn't dare to short yet tbh, well unless you're after 5-10 pips

So wormie... if i am not mistaken... the DX index (which i was able to find on netdania) behave in the opposite way of eur/usd?
I don't want a job, i want money!
  • #6,288
  • Apr 23, 2010 4:48am Apr 23, 2010 4:48am
Quoting dario1002
So wormie... if i am not mistaken... the DX index (which i was able to find on netdania) behave in the opposite way of eur/usd?
yup
the dx has it's closest inverse correlation with eurousd. 57.6% to be exact.
Thank You
  • #6,289
  • Apr 23, 2010 5:30am Apr 23, 2010 5:30am
Quoting wormboy
yup
the dx has it's closest inverse correlation with eurousd. 57.6% to be exact.

hmm that is interesting... so next time maybe before going for example LONG on EURUSD, i should ask myself if i would go SHORT on DX? u do something like that?
I don't want a job, i want money!
  • #6,290
  • Apr 23, 2010 6:37am Apr 23, 2010 6:37am
that's another 67 bucks. 130+ bucks on eu less than 15 minutes spent. good thing i am flexible. took the h1 trade on cable & waited 4 bloody hours to see that price is .... yup still at my entry earlier
when all else fails, pull up the m1
Attached Image (click to enlarge)
Click to Enlarge Name: eum1.jpg Size: 43 KB
Thank You
  • #6,291
  • Apr 23, 2010 6:44am Apr 23, 2010 6:44am
Quoting dario1002
hmm that is interesting... so next time maybe before going for example LONG on EURUSD, i should ask myself if i would go SHORT on DX? u do something like that?
dx is the weighted average of eu,gu,uchf,ucad,uy and errr i forgot the other pair combined. it's not the total opposite of eu, but it does help since eu has the highest percentage in the inverse correlation.
what i do is, i mark the important levels on the dx charts. that helps substantially in making decision when trying to place orders on the other pairs.
Like right now, dx is back slightly above 81.66, so there is a possibility of another assault on 82.05 level later. If that happens, we know eu is in for another beating.
And if the D1 close above 82.05 eu will be in deep shit. GU would probably be trading back below 1.5 level imho
Thank You
  • #6,292
  • Apr 23, 2010 6:45am Apr 23, 2010 6:45am
Have a look at usdjpy
I don't want a job, i want money!
  • #6,293
  • Apr 23, 2010 6:52am Apr 23, 2010 6:52am
btw, did you watch this?
Attached Image (click to enlarge)
Click to Enlarge Name: uy.gif Size: 23 KB
Thank You
  • #6,294
  • Apr 23, 2010 6:55am Apr 23, 2010 6:55am
Quoting dario1002
Have a look at usdjpy
lol yea ... you owe me a cup of jo
Thank You
  • #6,295
  • Apr 23, 2010 7:21am Apr 23, 2010 7:21am
Quoting wormboy
lol yea ... you owe me a cup of jo

Eheheh actually if u will ever come here to sicily, i will surely offer u some good liquor of ours.... and i will make sure that it will be with money that i made with forex. So u better tell me all your secrets, or there won't be any drink for u!!!!
I don't want a job, i want money!
  • #6,296
  • Apr 23, 2010 9:43am Apr 23, 2010 9:43am
Quoting wormboy
GBPUSD

1. short @5353 sl @5475 (0.3)

Trade closed

GBPUSD

1. short @5353 closed @5334 (0.3)
Thank You
  • #6,297
  • Apr 23, 2010 9:56am Apr 23, 2010 9:56am
GBPUSD

1. long @5348 sl @5270 (0.1)
Thank You
  • #6,298
  • Apr 23, 2010 10:21am Apr 23, 2010 10:21am
Quoting wormboy
GBPUSD

1. long @5348 sl @5270 (0.1)

Trade closed

GBPUSD

1. long @5348 closed @5372 (0.1)


see you all next week. bye
Thank You
  • #6,299
  • Apr 23, 2010 8:21pm Apr 23, 2010 8:21pm
Quoting dario1002
Eheheh actually if u will ever come here to sicily, i will surely offer u some good liquor of ours.... and i will make sure that it will be with money that i made with forex. So u better tell me all your secrets, or there won't be any drink for u!!!!
it's a deal then. I've never been to Italy before. Hopefully you're not a mafiosi lol. And oh ... if you promise me 2-3 gorgeous Italian ladies, I will teach you every single thing i know

Looks like I'm done trading for this month. I was contemplating yesterday if either I should trade light or stop trading completely till the UK parliamentary election is out of the way. I chose the latter since I'm about 1.6% in profit this month. Don't want to be caught with erratic moves where I might just surrender my profit completely. I'll start active trading again on May the 10th. Will still log on here for discussions if anyone is interested.

By the way, if anyone here is on facebook, my email add is : [email protected]
Would be nice to put faces to the names here & actually "know" each other

Right, my cup of coffee & roti canai awaits me. Sunny saturday! Yeah!!
Enjoy the weekend fellas. Ta!
Thank You
  • #6,300
  • Apr 24, 2010 7:33am Apr 24, 2010 7:33am
Quoting wormboy
hi dario

i don't really trade this pair so I can only offer you what I see now with no proper historical backup. So my disclaimer is - I can be wrong with this analysis lol


Imho price is still bullish. Few things to consider if you're planning to short
1. price is above today's dp
2. price is still trading with the ascending ltl.
3. price is above previous cluster resistance.
4. price is in what appears to be a bullflag.

That's just my observation. If you want to sell, make sure your selling options outweigh the buying ones to be safe.
Hope...
Thanks wormboy,
For me this is a great example of looking at what is, and not what might happen - and, assuming the trend will continue. I tend to get messed up looking for things to change instead of continuing.
The market is always right.
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