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  • #2,601
  • Jun 23, 2010 5:38am Jun 23, 2010 5:38am
Took this pin got out at BE on the retrace following it hitting FTA...when you cant make decent gains on PA setups you know things are tough lol!
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  • #2,602
  • Jun 23, 2010 6:36am Jun 23, 2010 6:36am
I cut my FTSE and Dow shorts earlier as FTSE was moving up...oil and gold just failed to hit my pending short and now all are falling hard....I've lost my mojo! Time to give up and watch the footie!
  • #2,603
  • Jun 23, 2010 6:46am Jun 23, 2010 6:46am
Quoting lovejoy80
I cut my FTSE and Dow shorts earlier as FTSE was moving up...oil and gold just failed to hit my pending short and now all are falling hard....I've lost my mojo! Time to give up and watch the footie!
Take it slow LJ. I don't know what advice to give you, because you know better than me what you should do when things like this come down the road.

I tried to take a nap after the horrible morning I had and I just couldn't sleep. I feel bad as hell now. Gave up all my profits this week in a couple of impulse trades. Man, it sure sucks to be overconfident... And I knew not to be cocky, but just could help myself.
  • #2,604
  • Jun 23, 2010 6:59am Jun 23, 2010 6:59am
Quoting neutro
Take it slow LJ. I don't know what advice to give you, because you know better than me what you should do when things like this come down the road.

I tried to take a nap after the horrible morning I had and I just couldn't sleep. I feel bad as hell now. Gave up all my profits this week in a couple of impulse trades. Man, it sure sucks to be overconfident... And I knew not to be cocky, but just could help myself.
I've had some really bad impulse trades today and yesterday... I get in them get scared and exit and they go the right way eventually. Need to get back to basics and just wait for some really good setups in order to get the confidence back. It's a bit frustrating as my analysis is spot on but trades are either just missing my entries by few pips (and they always just take off dont they lol!) or my entries are just a bit too early the I exit and they come back and soar.

Doing anything to reset your mind and emotions to neutral is what is needed...recognising you need to do that and how to do that are more difficult

The gold BEOB (daily) from 2 days ago has now triggered and my pending short order (I forgot about that!) got hit, lets shoot down to 1219.50 please!

Oh and come on England!!!
  • #2,605
  • Jun 23, 2010 9:56am Jun 23, 2010 9:56am
Quoting lovejoy80

Oh and come on England!!!
Congratulation on England
  • #2,606
  • Jun 23, 2010 11:19am Jun 23, 2010 11:19am
Quoting ogeid
Congratulation on England
Yeah , they played much better...buy boy that was once nervous moment when upson got in that last ditch tackle in the last few minutes. I wanted USA to win, they play well a bit cavalier at times but are fun to watch...but England coming second in their group is far from ideal...praying that Germany don't come top, want to avoid them at all cost!
  • #2,607
  • Jun 23, 2010 12:09pm Jun 23, 2010 12:09pm
Taking a look at equity futures...two charts of YM, 3 PPZ levels below @ 10125, 10060, 10000 areas...if the downtrend continues (as can be seen clearly on the 1HR chart) I'll be watching these areas for bounces...in an ideal world we'll bounce at the first two before heading back down to 10000 and then a bigger retracement back up.

I'll be setting buy orders at all three of these levels.

Next step is to look at the xxx/usd and xxx/jpy pairs and mark PPZ and if it hits a PPZ when YM hits one of the three aras above then its time to load up...it's as simple as that (very similar channel on EP with 1075 area as the next are for a bounce).

Oh and I've shorted Gold from the retrace to the broken TL. If we can close below 1228 then we'll have te second decent daily BEOB in three days...it's easy to see on the daily chart where the targets are.
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  • #2,608
  • Jun 24, 2010 12:35am Jun 24, 2010 12:35am
I'm with you LJ.

Nice trade on AU. Had too much risk in the market, didn't want to add another position, with the low confidence and all.

1.5 would have been sweet on GU.
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  • #2,609
  • Jun 24, 2010 12:46am Jun 24, 2010 12:46am
Quoting neutro
I'm with you LJ.

Nice trade on AU. Had too much risk in the market, didn't want to add another position, with the low confidence and all.

1.5 would have been sweet on GU.
You got the better entry on Gold I only had the lower entry.

I'm also in EG but based on the 4HR pin so not get anywhere on that yet either. I'm also short EU and AU based on charts below.

Look how YM bounced down hard of the TL touch just now...my confidence is low too otherwise I would have taken that and loaded up.

GU would have been good as per my chart below but I reckon there will be other xxx/usd and jpy pairs that will drop harder as GBP has been strong due to fundamentals over the last few days.

Whats happneed to my EU chart I've lost a load of data?!?!?
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  • #2,610
  • Jun 24, 2010 1:11am Jun 24, 2010 1:11am
I got out of EG. From a +2R high, got out with +0.2R. Talk about confidence gain. By the look of that H1 close, i wouldn't want to be on EG. Maybe a quadruple bottom around 0.82? I think it will break this time around.
  • #2,611
  • Jun 24, 2010 1:16am Jun 24, 2010 1:16am
Quoting neutro
I got out of EG. From a +2R high, got out with +0.2R. Talk about confidence gain. By the look of that H1 close, i wouldn't want to be on EG. Maybe a quadruple bottom around 0.82? I think it will break this time around.
Yeah I got out for a loss on EG.

Took profit on other trades apart from Gold as equity futures are in support areas now.
  • #2,612
  • Jun 24, 2010 1:39am Jun 24, 2010 1:39am
So much for the rise in EU. We've pulled a nice looking H&S. Make way for 1.2. Again.
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  • #2,613
  • Jun 24, 2010 1:45am Jun 24, 2010 1:45am
Quoting neutro
So much for the rise in EU. We've pulled a nice looking H&S. Make way for 1.2. Again.
I got out too early....thought YM double bottom would hold. It seems with the Football yesterday we are seeing the delay in the market response to FOMC statement and US home sales from yesterday... i.e. the true reaction which normally you'd see yesterday we are seeing now.

I still expect a bounce or slight retracement on equities prior to US open.

Well spotted , I can never spot H&S patterns!
  • #2,614
  • Jun 24, 2010 4:00am Jun 24, 2010 4:00am
Feel like going against the intermediate trend?

1% at risk with buy limit at 89.25, SL 88.80. I'll add a little at 89.00 if it gets there.

Gold let me down. Had such high expectations. Got out at the break of the IB for pennies and nickels.
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  • #2,615
  • Jun 24, 2010 4:03am Jun 24, 2010 4:03am
Quoting neutro
Feel like going against the intermediate trend?

1% at risk with buy limit at 89.25, SL 88.80. I'll add a little at 89.00 if it gets there.

Gold let me down. Had such high expectations. Got out at the break of the IB for pennies and nickels.
89 areas is an obvious PPZ so it definitely could bounce.

I just got back in gold short after getting stopped out at BE earlier
  • #2,616
  • Jun 24, 2010 4:08am Jun 24, 2010 4:08am
Quoting lovejoy80
89 areas is an obvious PPZ so it definitely could bounce.

I just got back in gold short after getting stopped out at BE earlier
I was just asking myself if I should join the bandwagon again. I'm so undecided about it, I think I'll pass.

UJ missed by 1 lousy pip.
  • #2,617
  • Jun 24, 2010 4:17am Jun 24, 2010 4:17am
Quoting neutro
Feel like going against the intermediate trend?

1% at risk with buy limit at 89.25, SL 88.80. I'll add a little at 89.00 if it gets there.

Gold let me down. Had such high expectations. Got out at the break of the IB for pennies and nickels.
Canceled, will take it from 89.
  • #2,618
  • Jun 24, 2010 4:46am Jun 24, 2010 4:46am
Well xxx/jpy has gone down a lot further and fast than I thought...not chasing falling knife here and want to wait until after the unemployment claims release in 45 minutes as this will have a big affect on the market.

I'm short gold and long G/AUd and G/CAD. I thought about going long these after the MPC minutes but decided against it...might be a bit late now but fundamentally the GBP is currently the strongest of the majors and AUd (following the change in prime minister) is particularly weak. No technical setups just based on current GBP strength and AUD/CAD weakness based on recent fundamentals.
  • #2,619
  • Jun 24, 2010 5:08am Jun 24, 2010 5:08am
chart

analyze this (DOW-Gold ratio)

I'm with you on Gold, though I would have been better off taking a short on oil, but figured gold has more room to run.
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  • #2,620
  • Jun 24, 2010 6:26am Jun 24, 2010 6:26am
Quoting neutro
chart

analyze this (DOW-Gold ratio)

I'm with you on Gold, though I would have been better off taking a short on oil, but figured gold has more room to run.
Where did you get this from?
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