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Nearly Naked (Simple Trades)

  • #4,221
  • Jun 21, 2010 10:20pm Jun 21, 2010 10:20pm
Quoting aragorn123
Give me like five minutes.
No worries. I am just looking for that level on my charts and both you and Amy have it. Can't find on mine ......
  • #4,222
  • Jun 21, 2010 10:39pm Jun 21, 2010 10:39pm
Quoting Saxon
No worries. I am just looking for that level on my charts and both you and Amy have it. Can't find on mine ......
Oh. for me, thats the 50 fib from 9404 to 8065, besides being previous levels of support. It might also be the point where that UTL of the (broken) rising wedge is.

Moreover that gap has been there for too long - should be closed tonight.
(I also think daily S1 is somewhere around there but I dont know the level)

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  • #4,223
  • Jun 21, 2010 10:43pm Jun 21, 2010 10:43pm
Quoting aragorn123
Oh. for me, thats the 50 fib from 9404 to 8065, besides being previous levels of support. It might also be the point where that UTL of the (broken) rising wedge is.

Moreover that gap has been there for too long - should be closed tonight.
(I also think daily S1 is somewhere around there but I dont know the level)

Attachment
Oh, I see, thanks !
  • #4,224
  • Jun 21, 2010 10:45pm Jun 21, 2010 10:45pm
Speaking of gaps. This one hasnt closed yet, I know someonebodys gap strategy had to suffer on this one.
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Annoying Precision
  • #4,225
  • Jun 21, 2010 10:51pm Jun 21, 2010 10:51pm
Quoting aragorn123
Anyone short cable? I shorted it earlier on break of trendline. Targeting the lower trendline.

Attachment
anyone short cable? I knw Saxon dsnt trade these times. Anyone else.

Pre-London PA is going nuts right now
  • #4,226
  • Jun 21, 2010 10:55pm Jun 21, 2010 10:55pm
Quoting aragorn123
anyone short cable? I knw Saxon dsnt trade these times. Anyone else.

Pre-London PA is going nuts right now
Ya, not trading right now, but here are some potential south friction points on GU. London will probably just make a mess of them though
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  • #4,227
  • Jun 21, 2010 11:23pm Jun 21, 2010 11:23pm
Quoting Saxon
Ya, not trading right now, but here are some potential south friction points on GU. London will probably just make a mess of them though
Well the first one was good for 21+ so far......I'm still not going to trade it though. I think I am going to hit the sack till NY.......Good luck on your trades
  • #4,228
  • Jun 21, 2010 11:24pm Jun 21, 2010 11:24pm
Quoting Saxon
Well the first one was good for 21+ so far......I'm still not going to trade it though. I think I am going to hit the sack till NY.......Good luck on your trades
Oh ya, some good world cup tomorrow!!!
http://www.fifa.com/worldcup/matches/index.html
Catch ya later
  • #4,229
  • Jun 21, 2010 11:29pm Jun 21, 2010 11:29pm
Quoting Saxon
Oh ya, some good world cup tomorrow!!!
http://www.fifa.com/worldcup/matches/index.html
Catch ya later
yup, looking forward to that.

gnite
  • #4,230
  • Jun 21, 2010 11:53pm Jun 21, 2010 11:53pm
Well since this is "nearly" naked trading thread I though I would post my findings on eur/usd

Looks like the upswing for the month has ended, and we have bars closed below the 38.2% fib from the high of 1.3092 on 10 May to the low of 1.1876 from 7th June.

Looks like my 4H bar weekly breakout looks good for the downside. Heading for the 23.6% fibo level, gogogo!
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  • #4,231
  • Jun 22, 2010 1:13am Jun 22, 2010 1:13am
Quoting Saxon
What?!?!?! That's all you ever do What happened to sleep is for the weekends
since he changed his signature he's been sleeping a lot lol
  • #4,232
  • Jun 22, 2010 1:18am Jun 22, 2010 1:18am
since volatility is low today i would think that the down move (retrace) has stalled, possibly signalling the return of the up move

however i couldn't ignore the bearish bat, the bounce off at fib61.8 .8846 etc

let's see how the market does, though im leaning towards selling on rallies, for now
  • #4,233
  • Jun 22, 2010 1:44am Jun 22, 2010 1:44am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Saxon
Oh ya, some good world cup tomorrow!!!
http://www.fifa.com/worldcup/matches/index.html
Catch ya later
Ya. Lookin forward to that and hoping our German team can 'handle' Ghana
Sure a lot of pressure for our young team but they should be able to make it. Let's see !
"Blue Horseshoe loves Anacott Steel!"
  • #4,234
  • Jun 22, 2010 2:59am Jun 22, 2010 2:59am
little note guys for the comments i had for my post
i m not Askin anyone to change to EW , and i said everyone uses what gives him money , Elliott waves is one of the most complicated method and it required alot of practicing to master it , it fits me and everyone uses what fits him but ,,,,,
this thread is for any kind of analysis ,Aint it ???
i post my EW , some other one post hes analysis based on whatever method and everyone makes hes own decision to follow this analysis or that ,,
the problem is that People r not patient enough to learn and practice EW for a year or something to start mastering it ,,
i guess after all ,it is going down as my chart said ,, and it ll visit the 8580 level AT LEAST , before any kind of rebound ,,,
  • #4,235
  • Jun 22, 2010 3:52am Jun 22, 2010 3:52am
this is a chart i posted couple of days ago signaling a top between 1.24-25 in the eur.usd and thena break of the 200 MA on the 4 hours chart , and it followed exactly my analysis
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  • #4,236
  • Jun 22, 2010 6:13am Jun 22, 2010 6:13am
Quoting aragorn123
J,
I don't want to offend you , but I feel that EW are more subjective than many other methods (isn't there more than one way to count waves or something?)...

Besides, have you given thought that people who feel AU might reach higher before retracing (note that no one said it won't go south, just that they dont feel it would right now) might also be right.

In any case, price would ultimately tell who's right. And, if you are positioned appropriately for it, then the pips be with you.
I wanna say something if I may.

EW is good if you get it right.It's a bit more sophisticated than other methodology that's the reason people tend to disregard it.

There is no holy grail out there, only high probability prediction. If you get better probability than your risk/reward ratio you have the edge.

At the end, they say there is no alchemy to look for. However, I'd say :the alchemist is you ,know yourself and control your mind, that's all.
  • #4,237
  • Jun 22, 2010 6:56am Jun 22, 2010 6:56am
I am seeing a head and shoulder formation in Cable in 4H charts. The typical rally in cable following the budget is something to be sold into.

Here is my chart attached which is self explaining.

I have started to scale in position from current level (market price 1.4810) and will add one more at 1.4880 (if it gets there) with hard stop at 1.4960

Good luck.
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  • #4,238
  • Jun 22, 2010 7:03am Jun 22, 2010 7:03am
Gutsy move.


Quoting puks
I am seeing a head and shoulder formation in Cable in 4H charts. The typical rally in cable following the budget is something to be sold into.

Here is my chart attached which is self explaining.

I have started to scale in position from current level (market price 1.4810) and will add one more at 1.4880 (if it gets there) with hard stop at 1.4960

Good luck.
Annoying Precision
  • #4,239
  • Jun 22, 2010 7:06am Jun 22, 2010 7:06am
Quoting puks
I am seeing a head and shoulder formation in Cable in 4H charts. The typical rally in cable following the budget is something to be sold into.

Here is my chart attached which is self explaining.

I have started to scale in position from current level (market price 1.4810) and will add one more at 1.4880 (if it gets there) with hard stop at 1.4960

Good luck.
Housing data worse than expected, as per my prediction. I am more comfortable with this cable short position now.

Spike up following the budget is the great opportunity for me to sell, which I gladly did.
  • #4,240
  • Jun 22, 2010 7:11am Jun 22, 2010 7:11am
Quoting puks
Housing data worse than expected, as per my prediction. I am more comfortable with this cable short position now.

Spike up following the budget is the great opportunity for me to sell, which I gladly did.

Hi Mate,

Good set up you've got there. But I see you are averaging your shorts, it's not a good habit in long run.

Once again, good trade, only wanted to say my 2cent.
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