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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #6,941
  • May 19, 2010 7:47am May 19, 2010 7:47am
Quoting ubaidahsan
well done broo ..in M1 how do you trade and whats your Tp of trades??

Ub
Quoting sailor68
Nice trading day WB, sometimes i scalp, not full lot and not on M1, but what kind of pair do you scalping (scalping only on asian and London session ?), also do you use trendline on M1 ?
Thanks for your answer.
Thanks guys.

Normally I scalp the eu & gu. I don't normally scalp the gbpjpy due to the wide spread & extreme volatility.
I scalp the m1 the same way I trade the htf. trendlines, s/r & pvp levels. No difference really. Only difference is in position sizing.
I don't recommend scalping if one is new to trading (less than 2 years in trading). A few reasons to that, one being new, naturally you'll be dependent on lagging indicators, ie the moving averages. They simply don't work when trying to scalp the ltf. You'll be losing precious pips while waiting for the crossovers.
Pin point accuracy in entries & exits when scalping is only achievable with understanding of price. There's a difference between scalping & placing trades based on the ltf entries. There are traders who use the ltf to enter a trade & work the higher tf trend/range from it. The crossovers work for this purpose tho.
I don't use the ltf for that purpose.

Attached chart below is a blown up chart showing the levels I used earlier when scalping the m1. I have used the m5 here to make it easier for you to see where I entered & exit. The live entries & exits earlier are available here :
1. http://www.forexfactory.com/attachme...6&d=1274259269

Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: gum5.gif Size: 28 KB
Thank You
  • #6,942
  • May 19, 2010 9:43am May 19, 2010 9:43am
Quoting wormboy
Hi rich,

it's the divergence. no reversal in sight if the d1 is to go by tho earlier indication showed price had obeyed the level.
I see thanks. Potential H&S setting up on DX hourly too, would be good news for your long if it does play out

Congrats on a great month by the way!
  • #6,943
  • May 19, 2010 9:53am May 19, 2010 9:53am
wtf moment.

then .....
1. http://www.forexfactory.com/showpost...postcount=6537




now ..... lol
Attached Image (click to enlarge)
Click to Enlarge Name: ec.gif Size: 26 KB
Thank You
  • #6,944
  • May 19, 2010 10:04am May 19, 2010 10:04am
Quoting wormboy
wtf moment.

then .....
1. http://www.forexfactory.com/showpost...postcount=6537




now ..... lol
Wow I had exactly the same moment of head scratching. Intervention or are my charts smoking something funny?!
  • #6,945
  • May 19, 2010 10:13am May 19, 2010 10:13am
Quoting uksnowman
Wow I had exactly the same moment of head scratching. Intervention or are my charts smoking something funny?!

lol yea...
last this beast dropped like this .. it was on fat finger day. and it moved before everything else. now it's moving again. i know it's the snb buying ... but ...


p/s : thanks for the kind words earlier my friend. hope you're trading well too
Thank You
  • #6,946
  • May 19, 2010 1:55pm May 19, 2010 1:55pm
beautiful bottoms all over the place! good luck with it everybody!
  • #6,947
  • May 19, 2010 10:36pm May 19, 2010 10:36pm
Here is a chart of the DX potential H&S which I mentioned earlier. If only I hadn't been asleep when price bounced off that red resistance line, would have been good for a few pips!

Well hopefully if the formation works out and with the divergence then longs will be looking more hopeful but with such a violent downtrend I am still treading carefully with longs. Starting small in case I'm proven wrong. Will be good to see some nice confirmation on higher timeframes on GU/EU once we are a bit higher then a test of resistance turned support will be my key to build a bigger position.

Trading going good thanks. Well it was going better than ever since start of this year but since I was off for a month on honeymoon this week has been a bit more tricky while I try to get back in tune with PA, but I seem to be back in the swing of things
Attached Image (click to enlarge)
Click to Enlarge Name: DX_HS.png Size: 41 KB
  • #6,948
  • May 20, 2010 3:02am May 20, 2010 3:02am
orite lads

As mentioned yesterday, no new position for me. Doing my rounds checking on my hollywood trades

My cable long positions from 4446 & 4237 taken on Tuesday & yesterday are still intact & I will hold it for now. Booked some profit earlier as well.


Charts posted:

1. http://www.forexfactory.com/showpost...postcount=6197

2. http://www.forexfactory.com/showpost...postcount=6206
Thank You
  • #6,949
  • May 20, 2010 3:10am May 20, 2010 3:10am
Anyway, here's the levels on the m5 for those who are looking for an entry.
No breakout yet so don't be hasty
Wonderful range from Asia open at dop right up to Frankfurt bounce at primary support.

Watch the desc utl, dp & dop break for long trigger & s1 break for short trigger.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 25 KB
Thank You
  • #6,950
  • May 20, 2010 3:17am May 20, 2010 3:17am
Hope all is well buddy,

You caught cable and I caught the euro to the T.
Boss Biggest trade of the year...

Got in at 2176 and currently at 2396


Good Luck brov
Have a lovely Year

Hope the little one is okay

Geppyg
Let Price determine your future!
  • #6,951
  • May 20, 2010 3:45am May 20, 2010 3:45am
Quoting wormboy
orite lads

As mentioned yesterday, no new position for me. Doing my rounds checking on my hollywood trades

My cable long positions from 4446 & 4237 taken on Tuesday & yesterday are still intact & I will hold it for now. Booked some profit earlier as well.


Charts posted:

1. http://www.forexfactory.com/showpost...postcount=6197

2. http://www.forexfactory.com/showpost...postcount=6206
Geez! Musta missed that post of yours! Woulda scared the willies outa me as I'm still holding on to a cable short!
  • #6,952
  • May 20, 2010 3:58am May 20, 2010 3:58am
Hey Azim....

i wonder how many funny names u got called when u said that at first?? Anyway... i saw some RSI indi.... i believe u use it just for the TF higher than daily??
I don't want a job, i want money!
  • #6,953
  • May 20, 2010 8:56am May 20, 2010 8:56am
Oh man, how I wish I'd gotten short in GY!!!
  • #6,954
  • May 20, 2010 9:53am May 20, 2010 9:53am
Quoting AnonYmos
Oh man, how I wish I'd gotten short in GY!!!
Hi Anonymous,

For sure you can get some green pips on dragon later.
At the beginning of this week i didn't short GY. i miss some easy green pips, but today i took 300 pips on Gy, i closed my short on GY, waiting for some retracement.

Now i have only one open position : short EU (0.3) target 21.50.
Good trade to all
Trade with the momentum
  • #6,955
  • May 20, 2010 10:24am May 20, 2010 10:24am
Quoting Geppyg
Hope all is well buddy,

You caught cable and I caught the euro to the T.
Boss Biggest trade of the year...

Got in at 2176 and currently at 2396


Good Luck brov
Have a lovely Year

Hope the little one is okay

Geppyg
hey bro all is good! been a while
I see you a got a mad entry there bro, awesome! looks like an inv H&S might be developing on your h1 eu mate. if that plays out, it defo will be the biggest one yet!

Btw guys, I've had mad trading sessions with geppyg on skype before, there was once we traded the dragon, we were up like what nirav? $20+ thousand in a few minutes, back being poor with $1 thousand and back up. Was it in that sequence bro? lol I vaguely remember the sequence but we were laughing one minute, chewing keyboard another minute, then laughed again
That was awesome, the dragon in all it's glory, spitting out a couple of hundred pips within minutes was the norm

Take care bro!
Thank You
  • #6,956
  • May 20, 2010 10:27am May 20, 2010 10:27am
Quoting AnonYmos
Geez! Musta missed that post of yours! Woulda scared the willies outa me as I'm still holding on to a cable short!
lol
don't worry, it just scared the willies outta me
Thank You
  • #6,957
  • May 20, 2010 10:32am May 20, 2010 10:32am
Quoting dario1002
Hey Azim....

i wonder how many funny names u got called when u said that at first?? Anyway... i saw some RSI indi.... i believe u use it just for the TF higher than daily??

hey dario

lol nah, was only joking. nobody called me names. I used to get heckled for doing it. I don't get it anymore tho, prolly because I am good at it
yea i use the oscillators on htf only to spot divergences.
On top of the d1 rsi you saw, now pull up your h4 and slap the rsi in you'll see triple bullish divergence. Why I am not at all arsed about selling, unless scalping.
And check out how the previous H1 closed, check out how price bounced violently off yesterday's low. That sure as hell don't look like sellers to me.
Let's see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 26 KB
Thank You
  • #6,958
  • May 20, 2010 11:02am May 20, 2010 11:02am
Quoting wormboy
wtf moment.

then .....
1. http://www.forexfactory.com/showpost...postcount=6537




now ..... lol
Quality chart. Don't mess with the Swissy!
  • #6,959
  • May 20, 2010 12:37pm May 20, 2010 12:37pm
Quoting bbakker
Quality chart. Don't mess with the Swissy!

lol that's old news bro.
They're at it again today
Attached Image (click to enlarge)
Click to Enlarge Name: ec.gif Size: 24 KB
Thank You
  • #6,960
  • May 20, 2010 12:52pm May 20, 2010 12:52pm
another dx update, I like this movement
Attached Image (click to enlarge)
Click to Enlarge Name: DX_HS_break.png Size: 69 KB
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