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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #9,521
  • Mar 3, 2011 8:26am Mar 3, 2011 8:26am
Quoting KwAAkS
I really can not see far down now. After yesterday breakout on 1.385 i think there is more upside now. SL must be big,there could be some rollercosters ride because of the news.

good luck to all
Quoting dario1002
eheh my friend.. i am babysitting my trade now... i am in at 3802 and already covered.

hey... can i tell u one thing... about yesterday??
well done on the long trades fellas
Thank You
  • #9,522
  • Mar 3, 2011 8:41am Mar 3, 2011 8:41am
Quoting Janegra
Hi fellas, i am a lurker on this thread....
Hi graham,

thank you for the kind words mate. I can assure you my trading is very elementary, not freakish.
Did you take the euro long earlier?
Chart below is the eurox & the gbplfx, see where before the news sterling showed weakness while euro remained stable. That's the reason why I took my cable trade off the table but left the fibre trade to work (re dario's question)
See, told you it's not freakish
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gx5.gif Size: 26 KB
Click to Enlarge Name: eurox5.gif Size: 17 KB
Thank You
  • #9,523
  • Mar 3, 2011 8:43am Mar 3, 2011 8:43am
hmmm having itchi fingers... like for long on GU again at this level... 6275 area.... but maybe it's too soon. Looking at my 4h gbplfx i have something that looks like bullflag. Will wait for the break (at least of 4h) and will wait for usdx to confirm under 77.00 and 76.73, therefore... will think about it on monday
I don't want a job, i want money!
  • #9,524
  • Mar 3, 2011 11:40am Mar 3, 2011 11:40am
Quoting Janegra
Hi fellas, i am a lurker on this thread....
Completely agree with you. Wormboy and malcolmb are probably the best traders I seen around forums, they make trading look unbelievably easy my heart aches
but I appreciate their post
  • #9,525
  • Mar 3, 2011 4:27pm Mar 3, 2011 4:27pm
Those are beautiful pivotpoints, whats that indicator called?
  • #9,526
  • Mar 3, 2011 10:28pm Mar 3, 2011 10:28pm
Quoting wormboy
Hi graham,

thank you for the kind words mate. I can assure you my trading is very elementary, not freakish.
Did you take the euro long earlier?
Chart below is the eurox & the gbplfx, see where before the news sterling showed weakness while euro remained stable. That's the reason why I took my cable trade off the table but left the fibre trade to work (re dario's question)
See, told you it's not freakish

Hi WB,

what is your next plan on EU? i was re-reading your thread. you really make trading simple by sticking to your plan
  • #9,527
  • Mar 4, 2011 7:11am Mar 4, 2011 7:11am
Quoting Orbital
Those are beautiful pivotpoints, whats that indicator called?
cyberkreatif pivot orb.
drop me your email add if you want a copy mate
Thank You
  • #9,528
  • Mar 4, 2011 7:16am Mar 4, 2011 7:16am
Quoting yuan83
Hi WB,

what is your next plan on EU? i was re-reading your thread. you really make trading simple by sticking to your plan
thanks mate.

I have no plans to trade today. I'm already done for the week after I closed out the last eu trade yesterday. I just log on now to watch the nfp.
EU imo is still bullish & buying dips is the way to go till 1.4 is at least tested.
That being said, since it's nfp day, it could well spike the other way first before heading up again.

Good luck if you're trading today
Thank You
  • #9,529
  • Mar 4, 2011 7:33am Mar 4, 2011 7:33am
Hi Wormie brother i am back I am buying Cable, Euro and AUD USD
  • #9,530
  • Mar 4, 2011 7:36am Mar 4, 2011 7:36am
Quoting wormboy
thanks mate.

I have no plans to trade today. I'm already done for the week after I closed out the last eu trade yesterday. I just log on now to watch the nfp.
EU imo is still bullish & buying dips is the way to go till 1.4 is at least tested.
That being said, since it's nfp day, it could well spike the other way first before heading up again.

Good luck if you're trading today
tested
Thank You
  • #9,531
  • Mar 4, 2011 9:00am Mar 4, 2011 9:00am
Quoting wormboy
well done
stick with the direction of the htf bro
yes, definite no no unless scalping. keep your runner going, because if the W1 close is anything to go by, eu will likely test 1.4 level this week. The rising three is a potent continuation pattern.
missed it by a week, but level met nonetheless. PA is not random, know your patterns
Enjoy the weekend.
Attached Images
Thank You
  • #9,532
  • Mar 4, 2011 9:07am Mar 4, 2011 9:07am
Quoting wormboy
tested

yes spot on .
  • #9,533
  • Mar 4, 2011 9:09am Mar 4, 2011 9:09am
Quoting wormboy
missed it by a week, but level met nonetheless. PA is not random, know your patterns
Enjoy the weekend.
hi WB, that's a bullish pattern? ok i will have thought that looks like 3 doji and that means down rather than up. May I ask if you have a good website to learn pattern? Thanks
  • #9,534
  • Mar 4, 2011 9:14am Mar 4, 2011 9:14am
Quoting yuan83
hi WB, that's a bullish pattern? ok i will have thought that looks like 3 doji and that means down rather than up. May I ask if you have a good website to learn pattern? Thanks

I don't blame you, most that I know only paid attention to the inverted hammers/dojis & overlooked the whole candle formation.
Google Bullish Rising Three formation & see the similarity of the pattern I posted.
Dunno any specific websites tbh, I picked the formation/patterns from books.
But nothing Google search can't find you these days
Thank You
  • #9,535
  • Mar 4, 2011 9:16am Mar 4, 2011 9:16am
here's one definition on the rising three I found on Google search.
bunch of other useful patterns here too it seems. I suggest you learn them

1. http://www.fxwords.com/b/bullish-ris...ndlestick.html
Thank You
  • #9,536
  • Mar 4, 2011 9:20am Mar 4, 2011 9:20am
Quoting wormboy
I don't blame you, most that I know only paid attention to the inverted hammers/dojis & overlooked the whole candle formation.
Google Bullish Rising Three formation & see the similarity of the pattern I posted.
Dunno any specific websites tbh, I picked the formation/patterns from books.
But nothing Google search can't find you these days

hmm thanks WB. learnt something today. so for such a trade, will you enter straight at the monthly pivot which i see from your chart? or wait for the bullish candle to appear? any books to recommend? like the encyclopedia of chart patterns by Thomas N. Bulkowski? i am probably only 10% through that book haha.
  • #9,537
  • Mar 4, 2011 9:28am Mar 4, 2011 9:28am
Quoting yuan83
hmm thanks WB. learnt something today. so for such a trade, will you enter straight at the monthly pivot which i see from your chart? or wait for the bullish candle to appear? any books to recommend? like the encyclopedia of chart patterns by Thomas N. Bulkowski? i am probably only 10% through that book haha.
you're welcome

no, I wouldn't have entered smack on the monthly pivot had I wanted to trade off this pattern, that would not have been possible. If for example, I bought off the 1.345 test based on the weekly chart anticipating a rising three to form than that I would've been guessing, because the pattern wasn't complete yet at the time.
As shown here, I needed all 5 candles to close to confirm that the continuation pattern is in place (Feb 22nd):
1. http://www.forexfactory.com/showpost...postcount=9346


Once the pattern was in place, I used it as a roadmap to place my trades, you can go back 1 or 2 weeks & see that I had only been calling euro longs, no shorts. The bullish rising three had a lot to do with the conviction I had.

Hope that helps.
Btw, just read any books on patterns you can get your hands on, they'll do you more good than harm dont worry
Thank You
  • #9,538
  • Mar 4, 2011 9:44am Mar 4, 2011 9:44am
Quoting wormboy
you're welcome

no, I wouldn't have entered smack on the monthly pivot had I wanted to trade off this pattern, that would not have been possible. If for example, I bought off the 1.345 test based on the weekly chart anticipating a rising three to form than that I would've been guessing, because the pattern wasn't complete yet at the time.
As shown here, I needed all 5 candles to close to confirm that the continuation pattern is in place (Feb 22nd):
1. http://www.forexfactory.com/showpost...postcount=9346


Once the...
thanks bro. let me re-read ur thread 1st haha.

have a gd weekend ahead!
  • #9,539
  • Mar 4, 2011 9:59am Mar 4, 2011 9:59am
Quoting wormboy
tested
Hi wormboy.

the very first post on the FF & it is dedicated to you.
well done, brilliant. you are a forex star.
thanks
  • #9,540
  • Mar 4, 2011 9:42pm Mar 4, 2011 9:42pm
hi WB,

sorry may i clarify with you, you often let your trades run, by moving ur SL if price moves in your direction and sometimes you take some profit when it hit a s/r. but when will you close the trade? based on candles when price seem to reverse? or looking at the daily close?

and any technique to master the psychology of trading?
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