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  • #281
  • Jun 29, 2010 12:14pm Jun 29, 2010 12:14pm
Quoting forexlion
what was the urgency for AUDUSD to crash 200+ pips today ?
China and miners - see article

http://www.marketwatch.com/story/miners-drag-uk-stocks-lower-on-china-fears-2010-06-29?dist=countdown
  • #282
  • Jun 29, 2010 2:06pm Jun 29, 2010 2:06pm
Quoting stevefx
You may be right, but I got my long signal on the H1 and I took it. Tiny bit worried about the looks of the MACD on H4, but these H1 sigs are high probability in themselves. We shall see. Easy SL though, since Price has worked itself into a wedge.
Recieved signal in opposite direction(sell). Stopped out -22.
  • #283
  • Edited 7:50pm Jun 29, 2010 5:52pm | Edited 7:50pm
I See a break on the 4 H chart

So switch to the 60 M fo entery

I just enter a sell To the 2.618 FIb EXT
1 TP at the 1.618 (14915 ) and possible all the way to 2nd TP 14798(2.618 Fib EXT)

My SL above the high of wave 5 .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP 4 HToday 1.png Size: 36 KB
Click to Enlarge Name: New GU 60.png Size: 46 KB
  • #284
  • Jun 29, 2010 6:42pm Jun 29, 2010 6:42pm
CHANGE IN POSITIONS

long GBP/USD @

5093.....TGT @ 5264
5065.....TGT @ 5264
5025.....TGT @ 5264
5050.....TGT @ 5264

long EUR/USD @

2420.....TG @ 2525

Why the Pound so strong...?.....Simply because of the new Financial Rules in the UK...and now most investors see it as a safe haven as it has support from a member of the MPC , Andrew Sentance who voted for a quarter of a percantage rise in the Bank rate to 0.75%....thus further gains are to be seen....I will add longs on any dips
  • #285
  • Jun 29, 2010 7:52pm Jun 29, 2010 7:52pm
Quoting zamanib
I like your style of trading --- trade what you see on the chart--- not what you think will happen. I did short also GU 50+ pips
Hehe... We are in the same boat. Anyway, I'm still in the profit region of 40+ pips since yesterday night till now. Interestingly, M15 prices showing downtrend, H1 MACD has started to show bearish sign and H4 stochastic starting to show downward move, thus, I'm holding on to my short trade.

The tough part about my way of trading is that I'll need to go against the long term trend for a short while (i.e. bullish long term now but targeting for short term bearish retracement). It is usually very scary but I do get very good profit, especially when the long term trend get exhausted and goes along with my short term trade.

It is not that I don't believe in the bullish trend in H4 but the uptrend have loses a fair bit of momentum since 2 days ago. In addition, the FA of UK isn't that fantastic afterall. The interest rate hike vote isn't conclusive too. Thus, my sense is that the upward euphoria is a bit over-reacted. Still holding a bearish view over the FA of UK. All these gives more support to my short trade.

Just my 1 cents view
  • #286
  • Jun 29, 2010 8:08pm Jun 29, 2010 8:08pm
Quoting stevefx
Recieved signal in opposite direction(sell). Stopped out -22.
No worries, bro. Small loses. I believed you'll be able to get much bigger profit after small loses
  • #287
  • Jun 29, 2010 10:09pm Jun 29, 2010 10:09pm
Quoting callim22
Hehe... We are in the same boat. Anyway, I'm still in the profit region of 40+ pips since yesterday night till now. Interestingly, M15 prices showing downtrend, H1 MACD has started to show bearish sign and H4 stochastic starting to show downward move, thus, I'm holding on to my short trade.

The tough part about my way of trading is that I'll need to go against the long term trend for a short while (i.e. bullish long term now but targeting for short term bearish retracement). It is usually very scary but I do get very good profit, especially when...
excellent trades n views
  • #288
  • Jun 29, 2010 10:38pm Jun 29, 2010 10:38pm
moving down let us hope , Need to make some pips lost aroung 300 in the last 2 days

Quoting tazzam72
I See a break on the 4 H chart

So switch to the 60 M fo entery

I just enter a sell To the 2.618 FIb EXT
1 TP at the 1.618 (14915 ) and possible all the way to 2nd TP 14798(2.618 Fib EXT)

My SL above the high of wave 5 .
  • #289
  • Jun 29, 2010 11:03pm Jun 29, 2010 11:03pm
It is moving down, don't worry
Just the matters what is the TP...

Quoting tazzam72
moving down let us hope , Need to make some pips lost aroung 300 in the last 2 days
  • #290
  • Jun 29, 2010 11:18pm Jun 29, 2010 11:18pm
14847

Quoting tonywonghs
It is moving down, don't worry
Just the matters what is the TP...
  • #291
  • Jun 30, 2010 12:24am Jun 30, 2010 12:24am
good morning all, good room here at least there is some serious stuff not jokes and all sorts of comments apart from forex

i have a long from yesterday open from 15080 which got me a little stuck, the uptrend channel still holding so should come back to profit but cant do much in these dips
  • #292
  • Jun 30, 2010 12:37am Jun 30, 2010 12:37am
Good morning all

Seeing a HS and descending triangle on cable. Wait for a breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPHS.png Size: 55 KB
  • #293
  • Jun 30, 2010 12:50am Jun 30, 2010 12:50am
Quoting adrianebn
good morning all, good room here at least there is some serious stuff not jokes and all sorts of comments apart from forex

i have a long from yesterday open from 15080 which got me a little stuck, the uptrend channel still holding so should come back to profit but cant do much in these dips
no worries, if anyone posts anything stupid, he joins my iggy list n gets banned from this wonderful thread

1.5027 needs to break to continue the slide downside

the only worry is that daily is still bullish, so i will be very very careful while shorting

http://img84.imageshack.us/img84/7523/27947219.gif
  • #294
  • Jun 30, 2010 12:51am Jun 30, 2010 12:51am
it seems yes, but should hold at 14985, thats the lower side of the uptrend channel been into for the last 20 days or so

Quoting falkor
Good morning all

Seeing a HS and descending triangle on cable. Wait for a breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: utrend.jpg Size: 198 KB
  • #295
  • Jun 30, 2010 12:53am Jun 30, 2010 12:53am
5027 is also this daily support, which needs to break to open the shorts to 4720 area

http://img408.imageshack.us/img408/5134/51044985.gif
  • #296
  • Jun 30, 2010 12:56am Jun 30, 2010 12:56am
yes agree

these 2 days have been ranging without much basis

Quoting forexlion
5027 is also this daily support, which needs to break to open the shorts to 4720 area

http://img408.imageshack.us/img408/5134/51044985.gif
  • #297
  • Jun 30, 2010 12:57am Jun 30, 2010 12:57am
Bullish diamond, trying long.
Attached Image (click to enlarge)
Click to Enlarge Name: diamond.png Size: 173 KB
  • #298
  • Jun 30, 2010 1:06am Jun 30, 2010 1:06am
Quoting stevefx
Bullish diamond, trying long.

Why bullish ?
  • #299
  • Jun 30, 2010 1:11am Jun 30, 2010 1:11am
Quoting 5ysfx
Why bullish ?
Generally diamond patterns are thought of as top reversal. I just think of them as reversal patterns. IE the way they came in is the way they go out.
  • #300
  • Jun 30, 2010 1:17am Jun 30, 2010 1:17am
Quoting adrianebn
it seems yes, but should hold at 14985, thats the lower side of the uptrend channel been into for the last 20 days or so
Frankly I am not that bullish becoz we have gone up quite a distance without any serious retracements. For me to buy into this, this has breakout of the supply zone which ends at 5120s. If it takes out, then play along with the trend.

Calling a top here is risky, but there are enough indications that we may be turinng around. Lots of divergences on hourly charts, rising wedge like formations, compact trading ranges.

I would like to see 48s or some resolution on bearish signals to go ahead.
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