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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #7,401
  • Jul 1, 2010 1:50am Jul 1, 2010 1:50am
Hey Azim...

on GU a close of the hourly candle below 4925 represent a broke of a LTL that hold from the beginning of the previous month. With this we could go downside where the first S/R zone is @ 4860 and 4820.

Unfortunately i missed the entry earlier, so i am not sure if i want to jump on the train right now, but let's wait and see. The bias of GU is long for the coming month (piercing pattern on the candle of june).

On the other side... would like to see a triple bottom on EU (15M TF) with 1.2200 being rather an interesting zone (and a dojy as a monthly).

Then, wanted to ask u again one thing about your trading strategy. Being a professional trader which does this for a living, how do u divide your time in front of the screen? Do u have an average amount of hours in front of the screen per day? and in case, how are them divided??

Thanks in advance
I don't want a job, i want money!
  • #7,402
  • Jul 1, 2010 2:14am Jul 1, 2010 2:14am
Quoting dario1002
Hey Azim...

on GU a close of the hourly candle below 4925 represent a broke of a LTL that hold from the beginning of the previous month. With this...
Hi dario

yep, as I mentioned to reflex earlier, I have 4833 as the bottom target. I reckon we're gonna bounce around this level, give & take 20-30 pips before a direction is decided. So with you staying out for now I think is a wise thing to do. Wouldn't want to get caught in whipsaws.
The D1 close today is very important imho, a completion of the 3 black crows will signal for a further fall, because like you, I also stand by the overall bullish sentiment. On the W1, there is a clear 3 advancing soldiers formation & on the monthly, mine closed slightly different than yours, it closed an inside bar. A bullish signal nonetheless. These things always happens on days leading up to the nfp. Convenient ey

erm, regarding the amount of hours spent in front of the screens, I don't really count them, but it's safe to say that I average about 6 hours a day. I have yet to reach that level we all dream about - click buy/sell & go golfing for the rest of the day lol. I treat this business the same way how I treat my other businesses. Needs monitoring. I spend most of those hours during london open till new york open. Unless scalping, most of the other sessions, I just come back during the hourly close to check on the trades.
I do have two screens wired from the workstation to my bedroom & in the tv room, so I can be spending time doing other things and not missing too much of the action. And of course, having the charts & trading platform on the cellphone does make a lot of difference, because I can monitor the the trades even when I am out.
That's pretty much how I divide my time really, by having screens available to me at all times lol. The only time I really switch off is on saturday & sunday.

Hope that helps.
Thank You
  • #7,403
  • Jul 1, 2010 2:30am Jul 1, 2010 2:30am
Quoting wormboy
Closed partial. Covering earlier loss.

GBPUSD

1. short @4925 closed @4901 (0.2)


Remaining trade unchanged.

GBPUSD

1. short @4925 sl @5065 (0.3)

Closed another partial.

GBPUSD

1. short @4925 closed @4873 (0.1)

Remaining trade unchanged.

GBPUSD

1. short @4925 sl @5065 (0.2)
Thank You
  • #7,404
  • Jul 1, 2010 2:44am Jul 1, 2010 2:44am
Quoting Fudomyo
132.9 is my positon entry.
closed 3 of 5 at 131.5, holding last 2 for more downside.

greedy.... lol


next stop S2 131 area. moved my SL to 132.07.
  • #7,405
  • Jul 1, 2010 2:49am Jul 1, 2010 2:49am
Quoting Fudomyo
closed 3 of 5 at 131.5, holding last 2 for more downside.

greedy.... lol


next stop S2 131 area. moved my SL to 132.07.

MILK MONEY TM

excellent trading brother!
Thank You
  • #7,406
  • Jul 1, 2010 3:06am Jul 1, 2010 3:06am
Quoting wormboy
MILK MONEY TM

excellent trading brother!

excellent work on the cable trade as well!

MILK MONEYTM X2!
Attached Image
  • #7,407
  • Jul 1, 2010 3:12am Jul 1, 2010 3:12am
Quoting wormboy
hi graham,

yea, I posted the chart here mate:
1. http://cdn.forexfactory.com/attachme...5&d=1277862887

as I mentioned earlier, I could be tad bit early with the short, so the dp is the barometer for this trade. If at any point price manage to close back above it before taking out my stop, I will close the short trade.

Hope it helps.
I've been away for a while, so I prob missed this if you mentioned it before, but is this a new trading weapon for you? i.e., an hourly close across the daily pivot is a reason to enter in the direction of the close? I only seem to remember you doing H4 breaking out trades before.
  • #7,408
  • Jul 1, 2010 3:36am Jul 1, 2010 3:36am
Quoting daffy
I've been away for a while, so I prob missed this if you mentioned it before, but is this a new trading weapon for you? i.e., an hourly close across the daily pivot is a reason to enter in the direction of the close? I only seem to remember you doing H4 breaking out trades before.
no mate,

That trade you highlighted was taken based on the triple top & I used the dp as the barometer to get out if price close back above it.
Thank You
  • #7,409
  • Jul 1, 2010 3:48am Jul 1, 2010 3:48am
Quoting wormboy
no mate,

That trade you highlighted was taken based on the triple top & I used the dp as the barometer to get out if price close back above it.
I get it . I'm still learning more about pivots, so any tricks I can learn to let me use them better helps. Thanks.
  • #7,410
  • Jul 1, 2010 3:57am Jul 1, 2010 3:57am
out of topic.

I am now watching this program on the tele called "behind bars".
shows the american prison system. no wonder america is going broke, they waste their taxpayers money on the scums
bloody prisons are like hotels!! good food, weak sentences. heck even the guards are nice! inmates get a few years for a boatload of drugs.
In my country, 500grams of marijuana will lead you to the gallows. The jailcell here is 8 feet by 4 feet. you get 1 slice of bread and 1 cup of cocoa for breakfast. a half plate rice & 1 fish for lunch & then fuck all for dinner. There are no showers, you only get 10 small pails full worth of water to wash yourself with. I know this for a fact because a friend of mine is on death row. gitmo will be a walk in the park for him.
lol I pity the american tax payers.
Thank You
  • #7,411
  • Jul 1, 2010 4:31am Jul 1, 2010 4:31am
It's the same in the UK. There was a story a year or so back where someone from Eastern Europe got told by his brother how cushy it was in UK prisons, so this guy came to the UK, and set about committing crimes in order to get himself arrested and put into a UK prison!!
  • #7,412
  • Jul 1, 2010 5:03am Jul 1, 2010 5:03am
Quoting daffy
It's the same in the UK. There was a story a year or so back where someone from Eastern Europe got told by his brother how cushy it was in UK prisons, so this guy came to the UK, and set about committing crimes in order to get himself arrested and put into a UK prison!!
lol what a joke! I think your governments take this "human rights" thing way too far.

I bet that eastern european fella won't last a day here ------> Bangkok Hilton

Check out what this young Brit got for smuggling ecstacy into the wrong country:
1. http://www.thaipro.com/thailand_00/2...kok-hilton.htm
Thank You
  • #7,413
  • Jul 1, 2010 6:38am Jul 1, 2010 6:38am
Quoting wormboy
Hi reflex,

Usually that is the case - a bit of consolidation when hitting a strong level, which in this case is the W1 pvp.
And I do agree that cable is likely to test the level you mentioned if the bearish close yesterday is anything to go by. I have 4833 as the bottom target if price can clear 4895 as mentioned yesterday. However, atm I am looking at the possibility of the broken ltl retest. And let's not forget that overall we still are pretty much bullish & only a bearish close ard 4895 or lower today will produce a strong reversal pattern...
Cheers for the help couldn't seem to break weekly MS1 today at 14875 I got one nice short today from 913-893 before it turned and I have one more question what is important about the 14895 area? I have been trying to work it out myself but can't probally something right infont of me I'm missing.

Cheers.
  • #7,414
  • Jul 1, 2010 6:54am Jul 1, 2010 6:54am
Quoting wormboy
Closed another partial.

GBPUSD

1. short @4925 closed @4873 (0.1)

Remaining trade unchanged.

GBPUSD

1. short @4925 sl @5065 (0.2)

Added

GBPUSD

1. short @4925 sl @5065 (0.2)
2. short @4985 sl @5065 (0.3)
Thank You
  • #7,415
  • Jul 1, 2010 7:09am Jul 1, 2010 7:09am
Quoting wormboy
Added

GBPUSD

1. short @4925 sl @5065 (0.2)
2. short @4985 sl @5065 (0.3)

Hey Azim.. apart from the S/R level @ 4980, i can't see any signal for short, so why u taking this trade??

On the other side.. maybe there ia s good H&S formation on GU, which could lead us down down!
I don't want a job, i want money!
  • #7,416
  • Jul 1, 2010 7:30am Jul 1, 2010 7:30am
what is cable doing?

messing up my GY short... that's what it's doing. lol

UJ still tanking, but if the GU resistance test of 1.500 fails I'm taking my pips and going home.

so far minor resistance holding on GY, was hoping for S2 before news.

they always do this...

things are going to get crazy for a bit.
Attached Image(s) (click to enlarge)
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  • #7,417
  • Jul 1, 2010 7:38am Jul 1, 2010 7:38am
Quoting dario1002
Hey Azim.. apart from the S/R level @ 4980, i can't see any signal for short, so why u taking this trade??

On the other side.. maybe there ia s good H&S formation on GU, which could lead us down down!
hi dario

yup, pivot area as well.
but having taken it before the news, I might lose this trade. Not the smartest thing I did today
Thank You
  • #7,418
  • Jul 1, 2010 7:44am Jul 1, 2010 7:44am
Quoting wormboy
hi dario

yup, pivot area as well.
but having taken it before the news, I might lose this trade. Not the smartest thing I did today
closed my trade.... 131.55

sitting on my hands for a bit until this is sorted.
  • #7,419
  • Jul 1, 2010 8:07am Jul 1, 2010 8:07am
Quoting wormboy
Added

GBPUSD

1. short @4925 sl @5065 (0.2)
2. short @4985 sl @5065 (0.3)

Trades stopped out.

GBPUSD

1. short @4925 stopped @5065 (0.2)
2. short @4985 stopped @5065 (0.3)
Thank You
  • #7,420
  • Edited 8:19am Jul 1, 2010 8:08am | Edited 8:19am
GU close to daily resistance and testing prior 4H support TL. GY testing the BO line 132 area as well. If they break topside, I'm going long. If it's rejected, we may continue down from here, but need a better signal to short. That's a big candle on the GU 4H. A close above the descending Daily TL would signal a lot more upside.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 36 KB
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