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  • #1,701
  • Aug 3, 2010 9:14am Aug 3, 2010 9:14am
Quoting Dhb
Just saw in another thread that aussie apparently just completed a bearish gartley butterfly on d1. Wouldn't it be something if we had just picked the top on this upmove?

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lol That'd be pretty funny without a doubt. I don't mess with gartley patterns or anything of that sort, I just deal with price action in trends. Right now the trend is up and the price action was too so I went with it. If it reverses, I'll do the same thing again to the downside.
I dream, therefore I become.
  • #1,702
  • Aug 3, 2010 9:27am Aug 3, 2010 9:27am
I'm always looking for complementary insights. I was pretty unfamiliar with Gartley patterns until today, but the butterfly I will remember from now on.

But as for this aussie setup is concerned, my reasoning was the same: pullback in uptrend + bullish PA -> take the trade. Barring news spikes or freak disasters, you can only be wrong once.
It's not about how much you make, it's about how much you don't lose.
  • #1,703
  • Aug 3, 2010 9:30am Aug 3, 2010 9:30am
Quoting Dhb
I'm always looking for complementary insights. I was pretty unfamiliar with Gartley patterns until today, but the butterfly I will remember from now on.

But as for this aussie setup is concerned, my reasoning was the same: pullback in uptrend + bullish PA -> take the trade. Barring news spikes or freak disasters, you can only be wrong once.
That's exactly it too my man. Running with the trend will make the register ring a lot more than going countertrend just because it may look top-heavy.
I dream, therefore I become.
  • #1,704
  • Aug 3, 2010 10:03am Aug 3, 2010 10:03am
Talk about a pain in the ass. lol I'll be re-entering long on the aud/usd again if I see another decent price on it. Nice hourly setups across the board right now.
I dream, therefore I become.
  • #1,705
  • Aug 3, 2010 10:05am Aug 3, 2010 10:05am
bog-diggity???
I dream, therefore I become.
  • #1,706
  • Aug 3, 2010 10:09am Aug 3, 2010 10:09am
This BUOVB smells like money now. News gave price the momentum needed for a higher move up. Boy, I hope you're still in on it brother. I'm going to be once I get some setups on the 5 minute charts.
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I dream, therefore I become.
  • #1,707
  • Aug 3, 2010 10:10am Aug 3, 2010 10:10am
Bogden, start posting and then I'll be able to send you PM's after you have 15 posts. Introduce yourself my man!

Ladies and gents, Bogden is one of my best buds so if he ever has any questions on anything and I'm not around, help him out. Introduce yourselves because I'm sure you'll find out that he's a great person through and through. Bogden211 is the name on here.
I dream, therefore I become.
  • #1,708
  • Aug 3, 2010 10:15am Aug 3, 2010 10:15am
Hehehe, saw the PA on aussie and thought about re-entering as well. Didn't do it though. Have some other longer term trades open atm. Did take a small trade on eu m1 just now though. Love trades where you can put your stop on BE within a few seconds.

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It's not about how much you make, it's about how much you don't lose.
  • #1,709
  • Aug 3, 2010 10:19am Aug 3, 2010 10:19am
Quoting Dhb
Hehehe, saw the PA on aussie and thought about re-entering as well. Didn't do it though. Have some other longer term trades open atm. Did take a small trade on eu m1 just now though. Love trades where you can put your stop on BE within a few seconds.

Attachment
Yes sir, those are the best ones lol Yeah, hopefully I see a couple trends develop on the 5's here today at some point. It's been nothing but chop and the only trade I've made is that aussie setup. Not looking too hot here lol

I like making gains every single day.
I dream, therefore I become.
  • #1,710
  • Aug 3, 2010 10:22am Aug 3, 2010 10:22am
Mike W. !!

My name's Eric. I'm going to school but not for this. I would love to learn how to do this on the side or just as a hobby. I know it has great opportunities and I'm hoping to take full advantage of them although I know it will be a learning process. Any help would be wonderful for that I am brand new to this. I'm hoping to get as good as Mike W. is at this one day!! Thanks!!
  • #1,711
  • Aug 3, 2010 10:25am Aug 3, 2010 10:25am
Aussie to 9163 my good friend.

K.I.S.S.
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  • #1,712
  • Aug 3, 2010 10:30am Aug 3, 2010 10:30am
Quoting bogden211
Mike W. !!

My name's Eric. I'm going to school but not for this. I would love to learn how to do this on the side or just as a hobby. I know it has great opportunities and I'm hoping to take full advantage of them although I know it will be a learning process. Any help would be wonderful for that I am brand new to this. I'm hoping to get as good as Mike W. is at this one day!! Thanks!!
Believe me Bogden, you'll be a star my man. I don't doubt that in the least. We have a great community on this site and some of the traders on here are just insanely awesome. I've never met a better group of people than on this site. Next time I see ya, I'll bring my laptop and we'll set up a demo account for you and I'll show you some of the basic setups on the daily timeframes. They are slower to come to fruition although starting out, that's what you'll want. Patience is key and there's no better way to gain patience than on the daily and weekly timeframes, that's for sure.

BTW everybody, Bogden is just disgusting at hockey....
I dream, therefore I become.
  • #1,713
  • Aug 3, 2010 10:31am Aug 3, 2010 10:31am
Quoting KissFan
Aussie to 9163 my good friend.

K.I.S.S.
My man Roger, how did I know you'd be in on that!? lol

Man, I've been reading your journal religiously lately with the fibstrike techniques. I've got some testing to do, it looks like, because you've been rockin these charts brother. I want a piece of that action for sure.
I dream, therefore I become.
  • #1,714
  • Aug 3, 2010 10:41am Aug 3, 2010 10:41am
Quoting mike w
My man Roger, how did I know you'd be in on that!? lol

Man, I've been reading your journal religiously lately with the fibstrike techniques. I've got some testing to do, it looks like, because you've been rockin these charts brother.
Well now you get to see one actually play out bro! LOL!!

Keepin'.It.Steadily.Strikin'.
  • #1,715
  • Aug 3, 2010 10:56am Aug 3, 2010 10:56am
I have to say, I'm excited for some of these 4 hour closes coming up at 1 o'clock. This one on the eur/jpy is right in line with the daily which is perfect IMO.
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I dream, therefore I become.
  • #1,716
  • Aug 3, 2010 12:43pm Aug 3, 2010 12:43pm
Quoting mike w
I have to say, I'm excited for some of these 4 hour closes coming up at 1 o'clock. This one on the eur/jpy is right in line with the daily which is perfect IMO.
1 o' clock didn't produce anything worthwhile, although we are at a solid area for trades to pop up on quite a few different charts. Maybe 2 will show some solid closes.

Also just got another trade back in the aud/usd at .9135. Not the exact price I wanted, but it'll do.
I dream, therefore I become.
  • #1,717
  • Aug 3, 2010 1:21pm Aug 3, 2010 1:21pm
Quoting mike w
Yes sir, those are the best ones lol Yeah, hopefully I see a couple trends develop on the 5's here today at some point. It's been nothing but chop and the only trade I've made is that aussie setup. Not looking too hot here lol

I like making gains every single day.
Yeah, I got a nice trade on E/U 5min earlier, but have been stopped out of a few I forced too. Days like this are great for learning discipline and patience. Actually, I'm finding the last two weeks have been good for that

Peace out guys. I'm going to take a snooze and then maybe do some back testing. Yeah!
  • #1,718
  • Aug 3, 2010 2:02pm Aug 3, 2010 2:02pm
Quoting Jduester
Yeah, I got a nice trade on E/U 5min earlier, but have been stopped out of a few I forced too. Days like this are great for learning discipline and patience. Actually, I'm finding the last two weeks have been good for that

Peace out guys. I'm going to take a snooze and then maybe do some back testing. Yeah!
That's it too brother. I saw quite a few opportunities today but only took 2 because the hourlies are just ranging pretty badly. Both trades on the 5 minute were losses for me today. Today was not the day to be trading the lower timeframes, that's for sure. Normally I love em, but not today. When I look at the hourly charts and it looks like a 3 year old took a crayola box to it, with red and blue on each line, that's enough for me to close up shop.

I actually just got into a 4 hour trade on the aud/jpy at 78.49 as we got some decent looking 4 hour action that goes right in line with the daily setup.

Have a good one Josh!
I dream, therefore I become.
  • #1,719
  • Aug 3, 2010 5:17pm Aug 3, 2010 5:17pm
We saw the breakdown of the double IB on the daily charts for the chf/jpy today. I'll be entering short on this one.
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I dream, therefore I become.
  • #1,720
  • Aug 3, 2010 5:25pm Aug 3, 2010 5:25pm
With these possible shorts coming to fruition, the longs don't seem like too great of an idea. The cad/jpy looks ready for a drop based on the daily charts again as well and I'll be trading it down just as I will be on the chf/jpy.
I dream, therefore I become.
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