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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #10,021
  • Mar 23, 2011 4:32am Mar 23, 2011 4:32am
anyway fellas... check the H&S forming on EU... if 4145 goes... probably we will be heading toward weekly pvt
I don't want a job, i want money!
  • #10,022
  • Mar 23, 2011 4:40am Mar 23, 2011 4:40am
Quoting dario1002
anyway fellas... check the H&S forming on EU... if 4145 goes... probably we will be heading toward weekly pvt
You will need a metric shitton of sellers to blow this level, there are so many funds and banks sitting in that level no way its breaking.

Im referring to the two black lines wrapping around the cluster
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  • #10,023
  • Mar 23, 2011 4:48am Mar 23, 2011 4:48am
Quoting Orbital
You will need a metric shitton of sellers to blow this level, there are so many funds and banks sitting in that level no way its breaking.

Im referring to the two black lines wrapping around the cluster
Attachment

eheheh maybe u are right.. but i will try to act by the book... H&S on top is nice, but i still have clearly in mind that we are in some uptrend and that will be even if weh go to 4072 (or even to 40). So my lotsize will be measured accordingly
I don't want a job, i want money!
  • #10,024
  • Mar 23, 2011 5:13am Mar 23, 2011 5:13am
Quoting KwAAkS
hmm...
we are not even past daily pivot. and the portugal deficit voting in few hours. i am not fundie guy but if portugal vote agains deficit-cut plan that may end up with early elections and asking for an EU rescue fund. This could send eur down...
what is the reason to be 5 lot shure on that long EU?
well i am keeping my shorts for now but will be watching it very closely.

good luck to all
That's the second time I got caught out. I had closed out my longs & sold but still am in $1900 drawdown for the day.
Will be away for the time being, in some heavy positions atm.
Breakeven is the order for the day

Be back when trading is done & good luck to all.
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  • #10,025
  • Mar 23, 2011 6:32am Mar 23, 2011 6:32am
Quoting wormboy
That's the second time I got caught out. I had closed out my longs & sold but still am in $1900 drawdown for the day.
Will be away for the time being, in some heavy positions atm.
Breakeven is the order for the day

Be back when trading is done & good luck to all.
closed another. Getting there, $700 to go, wish me luck!
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  • #10,026
  • Mar 23, 2011 6:35am Mar 23, 2011 6:35am
Quoting wormboy
hi orb, just up to 6300 level retest, ie current. If the current level fails, then 6215 is the next obvious target, but tbh I'd be surprised if price drops that far.
I'm flat on cable tho.
6215 tested on cable. Boy I hate being right when not trading. That's twice today I got the predicted levels right & not made a dime. Further proof not all analysts can trade!
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  • #10,027
  • Mar 23, 2011 6:39am Mar 23, 2011 6:39am
Quoting wormboy
not all analysts can trade!
Now you tell us bro just kidding ....i guess it's just one of those days that's all one request though...you hardly post your charts after your trade(s) anymore....used to help alot to learn and figure out for the reason behind your going short or long....

all the best for the remainder of the day and more importantly rest of the week...

Regards

Ali Raza
Raza
  • #10,028
  • Mar 23, 2011 6:41am Mar 23, 2011 6:41am
Quoting wormboy
6215 tested on cable. Boy I hate being right when not trading. That's twice today I got the predicted levels right & not made a dime. Further proof not all analysts can trade!
i know the feeling.. at the end i didn't take the short EU .... didn't want to jump the gun... eheheh f@@ck it!
I don't want a job, i want money!
  • #10,029
  • Mar 23, 2011 7:56am Mar 23, 2011 7:56am
Quoting wormboy
6215 tested on cable. Boy I hate being right when not trading. That's twice today I got the predicted levels right & not made a dime. Further proof not all analysts can trade!
Im waiting for another drop to 6219 will buy that heavily... this is becoming ridiculous...
  • #10,030
  • Mar 23, 2011 8:17am Mar 23, 2011 8:17am
Quoting dario1002
i know the feeling.. at the end i didn't take the short EU .... didn't want to jump the gun... eheheh f@@ck it!
eu shows a nice break of support on h4 yesterday n today, but i must say e movement now might be a retracement. is it completed yet? yet to be seen. but at least for now, price is supported at R2 for EU.
  • #10,031
  • Mar 23, 2011 1:17pm Mar 23, 2011 1:17pm
Quoting wormboy
closed another. Getting there, $700 to go, wish me luck!
mission accomplished
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  • #10,032
  • Mar 23, 2011 1:18pm Mar 23, 2011 1:18pm
enter a short again..dunno if this time it will work out..lets see
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  • #10,033
  • Mar 23, 2011 1:21pm Mar 23, 2011 1:21pm
what a day! time to bust a move!
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  • #10,034
  • Mar 23, 2011 1:42pm Mar 23, 2011 1:42pm
Quoting dario1002
i know the feeling.. at the end i didn't take the short EU .... didn't want to jump the gun... eheheh f@@ck it!
you shoulda went for it tho, it really does look like we'll get the W1 pvp test & probably drop a bit more to 4035 level before pulling back
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  • #10,035
  • Mar 23, 2011 1:48pm Mar 23, 2011 1:48pm
Quoting Orbital
Im waiting for another drop to 6219 will buy that heavily... this is becoming ridiculous...
I know what you mean, big support here @215 but I wouldn't be quick to buy that orb because I do think we need a proper bounce. If I had to guess, I'd say we'll see another retest like we always do, probably later.
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  • #10,036
  • Mar 23, 2011 2:41pm Mar 23, 2011 2:41pm
huh what a day. i am closing all positions @1.408.
as expected portugal rejected deficit plan:

http://www.bloomberg.com/news/2011-0...n-bailout.html

i am expecting more downside. at least 403 but probably even lower. but let's leave that for tomorrow.
good night
  • #10,037
  • Mar 23, 2011 5:29pm Mar 23, 2011 5:29pm
Quoting wormboy
hey bro,

yea, at the time I wasn't concerned as we were trading below dp on the ltf, but I cut the trade short as it went back above. By the looks of it the initial selling reaction to sell was the correct one, but had to follow the rules

I am not trading cable atm, but I still see price heading back to 6300 level for a retest.
Ah you were right! I didn't expect that much of a correction.. Nice call. Thanks for your analysis!
Cap
  • #10,038
  • Mar 23, 2011 5:49pm Mar 23, 2011 5:49pm
The initial w1 pvp target level had been tested (+- 5 pips). Keep in mind that the HTF is still bullish, but it does seem that the ltf is beginning to turn, with the H1 H&S formation now being valid.
I am still going to treat the downmove only as a retracement to the bullish HTF.
However, the W1 pvp is the line in the sand. If price close below it, this retracement can become a full blown reversal in a hurry & I will not hesitate to short bigtime.
I'm gonna stay flat & wait till LO later before trading again, not gonna trade asia & frankie like yesterday, way too risky.

Catch everyone later. Good luck.
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  • #10,039
  • Edited 11:08pm Mar 23, 2011 10:56pm | Edited 11:08pm
Good morning.

I also think that is nothing more than retrace. but it might be a big one. there are three areas to watch. rising daily TL. and big support around 1.385 and 1.373-1.375. I do not think we can go much lower that this in next weeks. If we go lower than it will go big time, but until we pass that famous 1.373(Dario )... As azim said, weekly pivot first. until we broke that one we can still fly back up.

good luck to all
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  • #10,040
  • Mar 24, 2011 1:21am Mar 24, 2011 1:21am
Hi guys

First of all i would like to insult myself... how such di@khead could see a retrace starting and still going on and make up 30 pips out of 200... (talking about EU.. but same thing could be said for GU (even though the first day when i said so cable went up 1 figure before turning). I could say that i am happy if i have been of any support of u.. but then if i wanted to help other people i would have been priest or missionary or something like that

SO... to business... EU: i see some room for the downside but i will be watching carefully the WP and 4030(!!!). Especially the last one might be the key point to the upside. Anyway we could even go to 3960 and that still would be an uptrend (i tell it to me, so that i don't start to get committed to shorts till it's not necessary). Bottomline.. things are lining up nicely in order soon to continue our ride up... not now, not yet but, be ready!!

GU: 608ish is a good S/R level and 616ish is level where both motnly and weekly pivots are. likely we will visit these levels and then price will decide from there. don't get committed to shorts yet... but GBP seems weaker than euro in my charts

as usual.. comments are welcome!
I don't want a job, i want money!
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