The WoRmHoLe | Page 398 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Better-than-the-wormhole 555 replies

Attachments: The WoRmHoLe
Exit Attachments

The WoRmHoLe

  • #7,941
  • Jul 29, 2010 1:46am Jul 29, 2010 1:46am
Quoting wormboy
GBPJPY

1. short @136.34 sl @137.60 tp @133.90 (2.0)
Closed partial

GBPJPY

1. short @136.34 closed @136.27 (1.5)

Remaining trade unchanged

GBPJPY

1. short @136.34 sl @137.60 tp @133.90 (0.5)
Thank You
  • #7,942
  • Jul 29, 2010 1:51am Jul 29, 2010 1:51am
Quoting wormboy
Closed partial

GBPJPY

1. short @136.34 closed @136.27 (1.5)

Remaining trade unchanged

GBPJPY

1. short @136.34 sl @137.60 tp @133.90 (0.5)

Reason for reducing risk is the previous close was a hammer. Might indicate price is probably going to retest the upper level one more time before falling. So, by clearing 3/4 of the position I might be able to get in again at a better price. The remaining 1/4 left on the table is for the "just in case" scenario whereby it was probably just a headfake & the thing fall straight down from here. Unlikely I know, but the rejection came during asia session, so their move are usually countered later in the day.

Let's see how it goes.
Thank You
  • #7,943
  • Jul 29, 2010 3:12am Jul 29, 2010 3:12am
Quoting wormboy
Reason for reducing risk is the previous close was a hammer. Might indicate price is probably going to retest the upper level one more time before falling. So, by clearing 3/4 of the position I might be able to get in again at a better price. The remaining 1/4 left on the table is for the "just in case" scenario whereby it was probably just a headfake & the thing fall straight down from here. Unlikely I know, but the rejection came during asia session, so their move are usually countered later in the day.

Let's see how it goes.
Hey bro, you lied to us! You're pretty good at explaining! Plenty of thanks for making the effort!
  • #7,944
  • Jul 29, 2010 3:24am Jul 29, 2010 3:24am
http://www.forexfactory.com/showpost...stcount=241518

Let me get back to that terrific GY trade you pulled off ystd. I did not yet understand where and why you entered the short. Could you explain please. Thanks bro!
  • #7,945
  • Jul 29, 2010 6:37am Jul 29, 2010 6:37am
Quoting AnonYmos
http://www.forexfactory.com/showpost...stcount=241518

Let me get back to that terrific GY trade you pulled off ystd. I did not yet understand where and why you entered the short. Could you explain please. Thanks bro!
okay

I placed the order when price touched the subutl (dotted declining trendline).
It wasn't a confirmed close price when I took it, it was still open, it was a 50-50 chance, but I was quite comfortable to take it as the same are was previous support. look to the left where previously there were the 3 declining tops, everytime price tested 137 level price bounced back strongly. Now right after the third declining top, price broke the support. So, just like any other timeframe you trade, once a support or resistance is broken, I'd say 90% the broken level gets retested. That's exactly what happened. Price broke below towards 136.50 level & then pulled back +-50 pips to 137 for a retest. This was where I took the trade. I had the declining utl & the mid pivot resistance (R1) in the way. It was a good position as I placed a massive size order (by my standards), so should the trade fail, I'll manage to get out with less than 20 pips of loss. The rest was history, we had 2 trendline breakouts & price manage to break & closed below day open when the news kicked in.
I told you yesterday, I had some luck with this trade, the news sending price down played a big part in the success of the trade. Not that I'm complaining

Hope that helps bro.
Attached Image (click to enlarge)
Click to Enlarge Name: gy5.gif Size: 28 KB
Thank You
  • #7,946
  • Jul 29, 2010 6:47am Jul 29, 2010 6:47am
Quoting wormboy
okay

I placed the order when price touched the subutl (dotted declining trendline).

...

Hope that helps bro.
Thanks, bro!
  • #7,947
  • Jul 29, 2010 7:07am Jul 29, 2010 7:07am
Quoting wormboy
I have on my chart a rising wedge reaching almost the pinnacle, so I have decided to sell @5629.
This thing can still spike up to the secondary weekly resistance @5662 tho, so I have widen my stop by 120 pips from my entry just in case the pattern fails...
GBPUSD

1. short @5629 sl @5749 (0.5)
okay. spiked up as anticipated. Level held as hoped for.
The rising wedge, the rejections at W1 R2 @5662 (twice), producing one spinning top & one shooting star which is currently testing the ltl & the dp.
This is my top & I'm happy to sell from here unless the previously mentioned levels, pattern & candle formations gets invalidated.

Show me the money!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guh4a.gif Size: 25 KB
Click to Enlarge Name: guh4b.gif Size: 26 KB
Thank You
  • #7,948
  • Jul 29, 2010 7:17am Jul 29, 2010 7:17am
Quoting wormboy
GBPJPY

1. short @136.34 sl @137.60 tp @133.90 (2.0)

we're in the money. keep going please.

Good luck to all of us!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gy4a.gif Size: 20 KB
Click to Enlarge Name: gy4b.gif Size: 20 KB
Thank You
  • #7,949
  • Jul 29, 2010 9:38am Jul 29, 2010 9:38am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Wormie, is your TL indicator a proprietary one?

It's nice to see colours at these levels.


ta
ams


Quoting wormboy
okay

I placed the order when price touched the subutl (dotted declining trendline).
It wasn't a confirmed close price when I took it, it was still open, it was a 50-50 chance, but I was quite comfortable to take it as the same are was previous support. look to the left where previously there were the 3 declining tops, everytime price tested 137 level price bounced back strongly. Now right after the third declining top, price broke the support. So, just like any other timeframe you trade, once a support or resistance is broken, I'd say 90% the broken...
  • #7,950
  • Jul 29, 2010 10:21am Jul 29, 2010 10:21am
Quoting wormboy
Closed partial

GBPJPY

1. short @136.34 closed @136.27 (1.5)

Remaining trade unchanged

GBPJPY

1. short @136.34 sl @137.60 tp @133.90 (0.5)
Remaining stop amended.

GBPJPY

1. short @136.34 sl @136.30 tp @133.90 (0.5)
Thank You
  • #7,951
  • Jul 29, 2010 10:23am Jul 29, 2010 10:23am
Quoting ams
Hey Wormie, is your TL indicator a proprietary one?

It's nice to see colours at these levels.


ta
ams
indicator?? I am flattered!
mate I drew em manually
Thank You
  • #7,952
  • Jul 29, 2010 10:32am Jul 29, 2010 10:32am
Quoting wormboy
Remaining stop amended.

GBPJPY

1. short @136.34 sl @136.30 tp @133.90 (0.5)
I am just wondering why you are closing your position out?
Have you lost confidence in this target or is this your preference over using stop to lock in profit?
  • #7,953
  • Jul 29, 2010 10:40am Jul 29, 2010 10:40am
Quoting gotpips92
I am just wondering why you are closing your position out?
Have you lost confidence in this target or is this your preference over using stop to lock in profit?
closing out?? I think you're confused.
I moved the trade to bep.
Thank You
  • #7,954
  • Jul 29, 2010 11:08am Jul 29, 2010 11:08am
Quoting wormboy
closing out?? I think you're confused.
I moved the trade to bep.
okay gottcha. just wondering because my system said sell and I say you were taking the trade so I took it at around the same time.

Best of luck to us.
  • #7,955
  • Jul 29, 2010 11:12am Jul 29, 2010 11:12am
Quoting wormboy
I have on my chart a rising wedge reaching almost the pinnacle, so I have decided to sell @5629.
This thing can still spike up to the secondary weekly resistance @5662 tho, so I have widen my stop by 120 pips from my entry just in case the pattern fails & things do not go as planned, I'll be able to reasses without having to worry too much of stop being to tight and having to make hasty decision. Hopefully I don't have to do that

GBPUSD

1. short @5629 sl @5749 (0.5)

Stop amended.

GBPUSD

1. short @5629 sl @5705 (0.5)
Thank You
  • #7,956
  • Jul 29, 2010 11:14am Jul 29, 2010 11:14am
Quoting wormboy
okay. spiked up as anticipated. Level held as hoped for.
The rising wedge, the rejections at W1 R2 @5662 (twice), producing one spinning top & one shooting star which is currently testing the ltl & the dp.
This is my top & I'm happy to sell from here unless the previously mentioned levels, pattern & candle formations gets invalidated.

Show me the money!

welp, looks like we're in the money
Rising wedge broken, the rejections at W1 R2 @5662 (three times), producing one spinning top & two shooting stars which had broken the ltl & dp. Still would want a clean close below for a better confirmation but looks like cable had likely topped out. I'm happy to retain short positions taken earlier.

Good luck everyone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guh4b.gif Size: 26 KB
Click to Enlarge Name: gu4c.gif Size: 27 KB
Thank You
  • #7,957
  • Jul 29, 2010 11:16am Jul 29, 2010 11:16am
Quoting wormboy
Remaining stop amended.

GBPJPY

1. short @136.34 sl @136.30 tp @133.90 (0.5)

Remaining stop amended.

GBPJPY

1. short @136.34 sl @136.20 tp @133.90 (0.5)
Thank You
  • #7,958
  • Jul 29, 2010 11:19am Jul 29, 2010 11:19am
Quoting wormboy
we're in the money. keep going please.

Good luck to all of us!
Getting closer. Keep going please
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gy4b.gif Size: 20 KB
Click to Enlarge Name: gy4c.gif Size: 21 KB
Thank You
  • #7,959
  • Jul 29, 2010 11:40am Jul 29, 2010 11:40am
Quoting wormboy
Getting closer. Keep going please
Hi WB, still short Dragon (will take 70% of Profit) near WP if go there and look if we can go more lower. Close already my short on GU at DP.
Trade with the momentum
  • #7,960
  • Jul 29, 2010 11:45am Jul 29, 2010 11:45am
Quoting wormboy
Remaining stop amended.

GBPJPY

1. short @136.34 sl @136.20 tp @133.90 (0.5)

closed partial

GBPJPY

1. short @136.34 closed @134.99 (0.2)


Remaining trade unchanged

GBPJPY

1. short @136.34 sl @136.20 tp @133.90 (0.3)
Thank You
3 traders viewing now