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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #7,561
  • Jul 8, 2010 3:23am Jul 8, 2010 3:23am
GY we potentially have a Reverse Symmetrical Triangle or a Reversal Expanding Triangle forming.


I like Elder’s description.

The expanding (widening) triangle becomes formed when prices behavior makes a sequence of ascending maximums and descending minimums. This pattern indicates that the market is “getting the state of hysterical instability”. “Bears” and ”bulls” are panicking. Their combat is getting “too hot” for the ascending trend continuation. So to say, the expanding triangle “kills” the ascending trend.

the halifax HPI number is hampering my trend change theory atm... I'm starting to get on board with the concept of hysterical instability. lmao
  • #7,562
  • Jul 8, 2010 3:53am Jul 8, 2010 3:53am
Quoting Fudomyo
GY we potentially have a Reverse Symmetrical Triangle or a Reversal Expanding Triangle forming.


I like Elder’s description.

The expanding (widening) triangle becomes formed when prices behavior makes a sequence of ascending maximums and descending minimums. This pattern indicates that the market is “getting the state of hysterical instability”. “Bears” and ”bulls” are panicking. Their combat is getting “too hot” for the ascending trend continuation. So to say, the expanding triangle “kills” the ascending trend.

the halifax HPI number is hampering...
"Hysterical instability" - great!!! Gotta remember that one. Which tf you're having this widening triangle on? Can't find it.
  • #7,563
  • Jul 8, 2010 4:02am Jul 8, 2010 4:02am
Quoting wormboy
GBPUSD

1. long @5189 sl @5130 (0.2)

Trade closed

GBPUSD

1. long @5189 closed @5175 (0.2)
Thank You
  • #7,564
  • Jul 8, 2010 4:03am Jul 8, 2010 4:03am
GBPUSD

1. short @5167 sl @5250 (0.3)
Thank You
  • #7,565
  • Jul 8, 2010 4:04am Jul 8, 2010 4:04am
bloody hell, missed to book some profit on that spike at fo earlier.
too much sleep can be costly!
Thank You
  • #7,566
  • Jul 8, 2010 4:36am Jul 8, 2010 4:36am
Quoting Fudomyo
1H TF

when I posted we hadn't broken the ltl of the triangle yet (green circle).

current chart broken out and tested as minor resistance. 133.6 prior resistance tested as support and holding for the moment.
Thanks, bro. Doesn't look very "hysterical", that little thing. Booked this as rejection by upper trendline of triangle/flag-like thing. Better to see on the 4h.
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  • #7,567
  • Edited 8:24pm Jul 8, 2010 4:48am | Edited 8:24pm
Quoting AnonYmos
Thanks, bro. Doesn't look very "hysterical", that little thing. Booked this as rejection by upper trendline of triangle/flag-like thing. Better to see on the 4h.

that "little thing" signaled a 100 pip drop.

that "triangle/flag-like thing" is called a consolidation.




.
  • #7,568
  • Jul 8, 2010 5:09am Jul 8, 2010 5:09am
Quoting wormboy
GBPUSD

1. short @5167 sl @5250 (0.3)

closed partial

GBPUSD

1. short @5167 closed @5134 (0.1)


Remaining trade unchanged

GBPUSD

1. short @5167 sl @5250 (0.2)
Thank You
  • #7,569
  • Jul 8, 2010 5:31am Jul 8, 2010 5:31am
Quoting AnonYmos
Played out nicely. Up about 230 pips. And didn't even close half pos as I was busy watching soccer and sleeping. As they say: sometimes it's best to enter and just walk away and let her do its thing.

Happy pippin to all!
Hi Anonymous, yes sometimes better to walk away, like now Short dragon at 134,23 have to go now come back later after the news, hope the news will not kill my trade...green pip to you also....
Trade with the momentum
  • #7,570
  • Jul 8, 2010 5:35am Jul 8, 2010 5:35am
Expecting to break down this time.
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  • #7,571
  • Jul 8, 2010 5:51am Jul 8, 2010 5:51am
How nice today.... This morning i went long on GU @ 5194 and was able to take partial profit at the spike.. but i didn't move my S/L to BE... and then i closed my position with a loss (bad mistake not to close manually my position after the 1H spike... i was just too much "up biased"). Then i went short @ 5148 and used trail stop while i wasn't in front of the pc, and it closed position with a bunch of pips... so i am not enjoying the ride down...

To use, or not to use trail stops then???? comments are welcome
I don't want a job, i want money!
  • #7,572
  • Jul 8, 2010 5:52am Jul 8, 2010 5:52am
they're trying to settle her down at the W1 pvp right before the rates. how convenient lol.

Good luck to all.
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Thank You
  • #7,573
  • Jul 8, 2010 5:54am Jul 8, 2010 5:54am
Quoting wormboy
closed partial

GBPUSD

1. short @5167 closed @5134 (0.1)


Remaining trade unchanged

GBPUSD

1. short @5167 sl @5250 (0.2)

Closed another partial.

GBPUSD

1. short @5167 closed @5123 (0.1)

Remaining stop amended.

GBPUSD

1. short @5167 sl @5160 (0.1)
Thank You
  • #7,574
  • Jul 8, 2010 6:21am Jul 8, 2010 6:21am
rising wedge on EU?
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I don't want a job, i want money!
  • #7,575
  • Jul 8, 2010 6:52am Jul 8, 2010 6:52am
Quoting dario1002
rising wedge on EU?
More than just that!
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  • #7,576
  • Jul 8, 2010 7:04am Jul 8, 2010 7:04am
Quoting wormboy
Closed another partial.

GBPUSD

1. short @5167 closed @5123 (0.1)

Remaining stop amended.

GBPUSD

1. short @5167 sl @5160 (0.1)

Remaining stop amended.

GBPUSD

1. short @5167 sl @5250 (0.1)
Thank You
  • #7,577
  • Jul 8, 2010 10:13am Jul 8, 2010 10:13am
right, i'm outta here.

just something to look into. the way i see it, the only thing holding cable above water atm is dollar weakness & not so much sterling strength.
The gbplfx is currently below the monthly pvp and had completed today's range so we might not see much changes for cable.
And keep an eye on dx, any sign of life on the greenback & I am pretty sure cable tanks.

Later folks
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Thank You
  • #7,578
  • Jul 8, 2010 10:55am Jul 8, 2010 10:55am
Quoting wormboy
Remaining stop amended.

GBPUSD

1. short @5167 sl @5250 (0.1)

Remaining trade closed.

GBPUSD

1. short @5167 closed @5105 (0.1)
Thank You
  • #7,579
  • Jul 8, 2010 10:57am Jul 8, 2010 10:57am
Quoting wormboy
Remaining trade closed.

GBPUSD

1. short @5167 closed @5105 (0.1)

Cleared the remaining position since price closed in on the W1 pvp, the primary supp level & previous day low.
Will take it again tomorrow.
Attached Image (click to enlarge)
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Thank You
  • #7,580
  • Jul 8, 2010 11:03am Jul 8, 2010 11:03am
Quoting wormboy
Cleared the remaining position since price closed in on the W1 pvp, the primary supp level & previous day low.
Will take it again tomorrow.
good work today bro.. bro i just want to know that we can see cable is unable to break 5250 level so is that mean that we can see 4500 back again before 5400 what do you say because in daily chart we can see cable is playing on TOP TL and unable to break it so will it test its middle line which is on 4500

thanks

Ub
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