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  • #201
  • Aug 4, 2010 7:15am Aug 4, 2010 7:15am
Hi All,
I closed my longs:

EU -14.8pips
GU +13.9 and +0.9
EJ +59.8 and +57

Total +116.8 pips
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Click to Enlarge Name: results.jpg Size: 28 KB
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  • #202
  • Aug 4, 2010 7:19am Aug 4, 2010 7:19am
I am short EJ at Intraday bull target, and resistance level at 113.65. Entry a little late at 113.51. Stop at BE.
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  • #203
  • Aug 4, 2010 7:46am Aug 4, 2010 7:46am
BE hit on EJ short.
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  • #204
  • Aug 4, 2010 7:55am Aug 4, 2010 7:55am
Quoting simoneg
Hi All,
I closed my longs:

EU -14.8pips
GU +13.9 and +0.9
EJ +59.8 and +57

Total +116.8 pips


Just a question, why did you close EU and GU right at 10:00 it was for the ISM news?

Thanks,
Dotmag
  • #205
  • Aug 4, 2010 7:56am Aug 4, 2010 7:56am
Quoting DotMag


Just a question, why did you close EU and GU right at 10:00 it was for the ISM news?

Thanks,
Dotmag
ooo I wasnt aware there was news. The EJ was flying up and both were stuck below resistance that they were trying to break for awhile.
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  • #206
  • Aug 4, 2010 8:26am Aug 4, 2010 8:26am
Quoting simoneg
ooo I wasnt aware there was news. The EJ was flying up and both were stuck below resistance that they were trying to break for awhile.
It's ok for EJ flying and hitting the target, but still I don't understand about EU and GU: do you have a rule of thumb for the breaking of a resistance/support level?, let's say you wait 3 hours and than you close the position if the level is not broken?
Because if the level is not broken for a while it means congestion: the market doesn't know the direction and wait for an explosion, big win if you are on the right side, big loss on the other one.
I can see congestion with ADX for example but I don't know with Fibo levels. It seems to me that I need a better insight of the behaviour of the price between the levels.

Thanks,
Dotmag
  • #207
  • Aug 4, 2010 8:31am Aug 4, 2010 8:31am
Quoting DotMag
It's ok for EJ flying and hitting the target, but still I don't understand about EU and GU: do you have a rule of thumb for the breaking of a resistance/support level?, let's say you wait 3 hours and than you close the position if the level is not broken?
Because if the level is not broken for a while it means congestion: the market doesn't know the direction and wait for an explosion, big win if you are on the right side, big loss on the other one.
I can see congestion with ADX for example but I don't know with Fibo levels. It seems to me that...
Hey Dotmag,
The EU for example, closed below yesterday's (daily) 50% level, failed to close above solidly since the start of the day. Also lower highs since projected D extension was hit. The candlestick patterns that followed around this resistance area, were also additional warning signs. I cant say that there is a specific time to wait. I just watch the price action around those strong areas of resistance/support picked on the breach fib.

Remember also that the breach fib is not so much about fib levels but helping to pinpoint the stronger areas of resistance and support on the chart that sellers and buyers are looking for.
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  • #208
  • Aug 4, 2010 10:59am Aug 4, 2010 10:59am
Quoting simoneg
Hey Dotmag,
The EU for example, closed below yesterday's (daily) 50% level, failed to close above solidly since the start of the day. Also lower highs since projected D extension was hit. The candlestick patterns that followed around this resistance area, were also additional warning signs. I cant say that there is a specific time to wait. I just watch the price action around those strong areas of resistance/support picked on the breach fib.

Remember also that the breach fib is not so much about fib levels but helping to pinpoint the stronger areas...
Hi Simone,
thanks for your reply.
I'm studying again the chart, and I see what you mean; moreover the EU level at price 1.32328 is the weekly bull target 1, the price tested this area 3 times and then was rejected forming a lower high... it's time to close the position .
  • #209
  • Aug 4, 2010 11:19am Aug 4, 2010 11:19am
Quoting DotMag
Hi Simone,
thanks for your reply.
I'm studying again the chart, and I see what you mean; moreover the EU level at price 1.32328 is the weekly bull target 1, the price tested this area 3 times and then was rejected forming a lower high... it's time to close the position .
No prob DotMag!As you spend more time with the fibs you will realize how price reacts to the different levels.
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  • #210
  • Aug 4, 2010 11:26am Aug 4, 2010 11:26am
I closed my last EJ shorts for +14.3 and +23.5pips.

Total +154.4pips for today! Hopefully we will get some good trades tomorrow before the Big Dreadful NFP on Friday.

Happy Trading All!
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  • #211
  • Edited 4:39pm Aug 4, 2010 4:14pm | Edited 4:39pm
Quoting Jazznos
Yeah im still out. Too tough for me to call. Price has been sideways since the open and contained by hourly TL's. Will have to wait for news and maybe we'll get an idea then. Everyone might be sitting on their hands till ADP too.
Grand daddy is in town this week. Pound always get shy for big poppa. Good trading otherwise everyone during these congested times. That's what so beautiful about this method: our short/long levels, high/low levels and T1/T2 levels all correspond and allow us to successful predict the swing's goal in any market. And the all important breach fib allows us to put price on a leash and follow it where ever it goes. :nerd:
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  • #212
  • Aug 5, 2010 2:35am Aug 5, 2010 2:35am
Good Morning Everyone!
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  • #213
  • Aug 5, 2010 2:36am Aug 5, 2010 2:36am
Quoting simoneg
Good Morning Everyone!
Good Morning Simone
  • #214
  • Aug 5, 2010 2:41am Aug 5, 2010 2:41am
Quoting simoneg
Good Morning Everyone!
Good evening Simone!!

Just had a quick EJ trade +15pips might re enter soon.
  • #215
  • Aug 5, 2010 2:42am Aug 5, 2010 2:42am
Quoting robster
Good evening Simone!!

Just had a quick EJ trade +15pips might re enter soon.
Again I forgot... Good Evening Robster! Good Stuff. Just woke up and doing some analysis!
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  • #216
  • Aug 5, 2010 2:43am Aug 5, 2010 2:43am
Quoting DotMag
Good Morning Simone
How is it going DotMag?
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  • #217
  • Aug 5, 2010 2:51am Aug 5, 2010 2:51am
Quoting robster
Good evening Simone!!

Just had a quick EJ trade +15pips might re enter soon.
Good morning everyone. Good trade robster!
A. Finesse Williams Making Millions One Pip At A Time!
  • #218
  • Aug 5, 2010 2:54am Aug 5, 2010 2:54am
Good Morning Aswilled!
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  • #219
  • Aug 5, 2010 2:55am Aug 5, 2010 2:55am
Quoting aswilled
Good morning everyone. Good trade robster!
Hi all....

hellow madame...aswilled and others...... the chatting room so silent...

it's me madame ......
not euphoria follower
  • #220
  • Aug 5, 2010 2:58am Aug 5, 2010 2:58am
EY is in a pennant and need to brake it. It penetrated it to the upside, but was rejected. A close above 80 will give the bulls the push to bull targets (T1:daily, T2:intraday) which converges with yesterday"s high.
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