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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #6,621
  • May 7, 2010 5:35am May 7, 2010 5:35am
Quoting wormboy
another $450 in the bag from the m1 counter. god I love this volatility. long may it continue!
This current long from 4600 level hi is covered thoroughly. I'm closing in on 4% gain for the week. No new trades till next week for me. maybe ... lol
Cool no new trades for me too

I'm looking for buys on EURUSD and EJ atm but i think I'm not going to get any trades, first it must come down and then up again so I'll buy it.
"Hate the sin, love the sinner." - Gandhi
  • #6,622
  • May 7, 2010 11:46pm May 7, 2010 11:46pm
Quoting wormboy
GBPUSD

1. long @4682 sl @4450 (0.2)

Quoting wormboy
hi

first upside target is 4850 supp/res level.
Got pretty close to the first upside target before close.
This trade is still running, I fell asleep after London close & failed to move my stop to bep, but not too worried as I am right now over 100 pips up in +ve.
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Thank You
  • #6,623
  • May 7, 2010 11:53pm May 7, 2010 11:53pm
Why I wasn't arsed about buying yesterday when it seemed like cable was going down the toilet.
Don't buy without confirmation they said lol. Do you really think I'm that thick?
Look where it bounced. As long as that level holds, I am not selling.
Those who sold low yesterday ...... (sorry bout the rant, but I got some colourful remarks yesterday when I bought hehe)

Enjoy your weekend
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Thank You
  • #6,624
  • May 8, 2010 12:21am May 8, 2010 12:21am
If I may be as so bold to show a couple charts here. The Euro may have bottomed out as well. The weekly bounced right on support that dates back to Jan. 2009. The other 1 hr chart showing higher lows.

I know Euroland is not out of the water yet but maybe this is the bottom.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #6,625
  • Edited 10:40am May 8, 2010 9:17am | Edited 10:40am
Confirmation, there is tons of it. Check it out.

Chart #1 Weekly Rejection at Major UTL

Chart #2 Daily Pin

Chart #3 Classic 4 hr Morning Star

Does anyone need any more?? These are all huge reversal formations all on the higher timeframes. You can not sell into this. It is suicide!
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  • #6,626
  • May 8, 2010 11:58am May 8, 2010 11:58am
Quoting wormboy
Why I wasn't arsed about buying yesterday when it seemed like cable was going down the toilet.
Don't buy without confirmation they said lol. Do you really think I'm that thick?
Look where it bounced. As long as that level holds, I am not selling.
Those who sold low yesterday ...... (sorry bout the rant, but I got some colourful remarks yesterday when I bought hehe)

Enjoy your weekend
a quote from the legendary Inverstor Sir John Templeton...
" When there is Blood and riots on the street,thats when i like to BUY."
you are in good company Azim..

baz
  • #6,627
  • May 8, 2010 9:27pm May 8, 2010 9:27pm
Weekly
Weekly chart, without any doubts, looks bearish.
Last week's candle engulfs almost 9 previous candles(2months worth).
This strong bearish candle could mean the retracement up from 1.48 to 1.55 has ended and the down move will continue in the coming weeks.

Daily
Daily chart looked 200% bearish until early Friday when G/U was sitting at 1.44-5levels, and I did expect the price to stay below 1.48 support/resistance level. However, it was again a weird Friday and the price bounced back up quickly ending the day with a very bullish candle. I want to emphasize on the fact that the price stayed above 1.48level, which for me is a very important level to watch out. This could negate what I have mentioned in Weekly analysis that the price could move lower in the coming weeks. Based on the daily chart, I would stay bull biased.
*My random thought=>How about I assume that during last Friday, G/U has never crossed below the 1.48level and assume it bounced exactly from that level. Then I think G/U is in the shape of inverted cup&handle formation. Which I am not really familiar with, but could be a possibility. If this is the case, then G/U could retrace up 2-300pips before continuing its free fall.

Hourly
I have a simple trade plan on Hourly chart. If Sunday nite's open price stays above 1.48level for first few hours, then I will enter a long position aiming for 1st target of the descending trendline and 2nd target of 1.5137ish.
Or if the price stays below 1.48level and PA seems to be losing bullish momentum, then I will enter a short position, targeting the previous low.
*However, as I have mentioned above, I would like to stay bull biased.



**This is my first real analysis and I do know that I have a lot of room for improvement on my analysis. So, plz criticize me and let me know how I can improve this and get better on it!!

Thanks
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  • #6,628
  • May 8, 2010 11:29pm May 8, 2010 11:29pm
Good analysis. I have the same opinion. I am looking for an up move to 1.4960 or 1.5125 and then we go down again to test 1.4475
  • #6,629
  • May 9, 2010 6:04am May 9, 2010 6:04am
WB,
I know you are interested in brushing up on some fundies.
Just one as of yet,
http://www.voxy.co.nz/politics/why-u...now/1273/47895
EDIT:
http://www.nbr.co.nz/article/uk-ente...liament-122736
http://www.telegraph.co.uk/news/elec...don-Brown.html

BTW: Looking Up as of yet for cable - .4500 hit, major cycle complete!
5800 next?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,630
  • May 9, 2010 5:27pm May 9, 2010 5:27pm
Quoting wormboy
GBPUSD

1. long @4682 sl @4450 (0.2)

First upside target @4850 played to the pip.


Closed partial.

GBPUSD

1. long @4682 closed @4841 (0.1)

Remaining stop amended.

GBPUSD

1. long @4682 sl @4550 (0.1)

chatter later fellas. still only 6:25 a.m. time for me to go back to bed
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Thank You
  • #6,631
  • May 10, 2010 12:08am May 10, 2010 12:08am
Quoting wormboy
First upside target @4850 played to the pip.


Closed partial.

GBPUSD

1. long @4682 closed @4841 (0.1)

Remaining stop amended.

GBPUSD

1. long @4682 sl @4550 (0.1)

chatter later fellas. still only 6:25 a.m. time for me to go back to bed


Remaining trade closed

GBPUSD

1. long @4682 closed @4893 (0.1)
Thank You
  • #6,632
  • Edited 1:45am May 10, 2010 1:03am | Edited 1:45am
longs in play on GY.
ascending wedge working out nicely.

no time to post earlier, may get a pullback around 140-140.65.

Watching 1H descending TL as well (138.7 area) and 50% fib of move down at 137.8, if we pull back below the 50% will close trade there and wait for next move.
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  • #6,633
  • May 10, 2010 1:22am May 10, 2010 1:22am
EurUsd

1. short @2975 sl @3100 (0.2)
Thank You
  • #6,634
  • May 10, 2010 2:15am May 10, 2010 2:15am
GBPUSD

1. short @4845 sl @4945 (0.1)


Bearish rising wedge now valid. Let's see how it goes.
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Thank You
  • #6,635
  • Edited 3:26am May 10, 2010 3:15am | Edited 3:26am
Quoting wormboy
Why I wasn't arsed about buying yesterday when it seemed like cable was going down the toilet.
Don't buy without confirmation they said lol. Do you really think I'm that thick?
Look where it bounced. As long as that level holds, I am not selling.
Those who sold low yesterday ...... (sorry bout the rant, but I got some colourful remarks yesterday when I bought hehe)

Enjoy your weekend


im still in. I bought cable at 1.49 and euro im still in the buy..what im looking for is a intervention through this euro bailout..also today pound interet rate may make this sum bitch rise..
I just thinking euro is to important to go down the tiolet
glad to see u smashing the pips bro

dont get caught at these low levels
  • #6,636
  • Edited 6:19am May 10, 2010 3:23am | Edited 6:19am
took partial profit here 139.6 Monthly S1. Nice start to the week!

Quoting Fudomyo
longs in play on GY.
ascending wedge working out nicely...
added to my position on last pb.
  • #6,637
  • May 10, 2010 3:25am May 10, 2010 3:25am
Quoting nAVIN2007


im still in. I bought cable at 1.49 and euro im still in the buy..what im looking for is a intervention through this euro bailout..also today pound interet rate may make this sum bitch rise..
I just thinking euro is to important to go down the tiolet
glad to see u smashing the pips bro
hi Nav,

Long time bro! I agree completely. Merkel says they'll defend the Euro at all costs.
Huge bailout coming. Get the printing presses rolling. lol

http://www.marketwatch.com/story/eur...one-2010-05-09
  • #6,638
  • May 10, 2010 3:30am May 10, 2010 3:30am
Quoting Fudomyo
hi Nav,

Long time bro! I agree completely. Merkel says they'll defend the Euro at all costs.
Huge bailout coming. Get the printing presses rolling. lol
i havent been posting cause im remaining in the trade for quite long periods of time and it pointless posting same thing over and over..hope u doing well buddy

yes this bailout is practically certain..agrees with the chart as well..this move down is simply to take every1 out that is long (im thinking) new all time high on euro (dreaming) but im gunning for it!
  • #6,639
  • May 10, 2010 3:33am May 10, 2010 3:33am
Quoting nAVIN2007
i havent been posting cause im remaining in the trade for quite long periods of time and it pointless posting same thing over and over..hope u doing well buddy
Doing great! cheers.

I'm on skype more then the forums lately, so not much posting either.

How's the job working out? ..miss having you around.
  • #6,640
  • May 10, 2010 3:36am May 10, 2010 3:36am
Quoting Fudomyo
doing great, cheers.

I'm on skype more then the forums lately, so not much posting either.

how's the job working out?

its not good bro, the job, infact i almost at that point of resigning, there just no money there but it does help remaining in trades as im not around to get all emotional

pm yur skype ID i shall remain in touch

gonna try trading full time soon
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