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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #10,561
  • Apr 5, 2011 4:24am Apr 5, 2011 4:24am
Quote
I'm gonna give myself a pat on the back, early february I was telling myself to refrain from trading cable too much unless there was really good setups available. Had shifted my attention almost entirely to the eurusd since. Now, looking back at the W1, staying away from cable is about the smartest decision I made this year so far.


Tick-a-boo azim, tick-a-boo
For me, that is one of the reasons you are one of the best traders on here. Discipline, not being afraid of being wrong, not being afraid of reversing if your signal is there and good money management all come together to make you out there on your own.
  • #10,562
  • Apr 5, 2011 4:29am Apr 5, 2011 4:29am
Note to self - forget Asia , go to bed before it opens and wake up fresh for Euro opens
  • #10,563
  • Apr 5, 2011 4:38am Apr 5, 2011 4:38am
Quoting ams
Well done wormie!!

Indeed, it's ranging waiting for BOE to raise rates then it'll fall due to dollar strength or pricedin scenerio then go up later. I am expecting and waiting for 157. They alwasy buy when sale is on, at the very bottom.

ta
ams
thanks ams

I have 1.564 if price can clear that big barrier @970, that sounds about right your level. But, cable's in a triangle atm, I have no bias atm. If it close topside, we'll see that 1.7
I'm keeping my options open on this one. Have a good one my friend!

Here's the same W1 working chart I've been using for a while now.

1. http://www.forexfactory.com/attachme...1&d=1281433282
2. http://www.forexfactory.com/attachme...2&d=1281433282
3. http://www.forexfactory.com/attachme...4&d=1281537494
4. http://www.forexfactory.com/attachme...6&d=1282303728
5. http://www.forexfactory.com/attachme...8&d=1294806812
Attached Image (click to enlarge)
Click to Enlarge Name: w1.gif Size: 28 KB
Thank You
  • #10,564
  • Apr 5, 2011 4:39am Apr 5, 2011 4:39am
... and one day I might even be able to trade a swing opportunity properly when I see one
http://www.forexfactory.com/showthre...33#post4518833
Attached Image (click to enlarge)
Click to Enlarge Name: sw.jpg Size: 97 KB
  • #10,565
  • Apr 5, 2011 4:40am Apr 5, 2011 4:40am
Quoting ohammond
For me, that is one of the reasons you are one of the best traders on here. Discipline, not being afraid of being wrong, not being afraid of reversing if your signal is there and good money management all come together to make you out there on your own.
Thank you sir.

No point trying to be right at the expense of losing money, no?
Have a good one!
Thank You
  • #10,566
  • Apr 5, 2011 4:43am Apr 5, 2011 4:43am
How about long EUR USD at this point? Looks like it needs some catching up to do compared to GBPUSD??

Quoting wormboy
Thank you sir.

No point trying to be right at the expense of losing money, no?
Have a good one!
  • #10,567
  • Apr 5, 2011 4:51am Apr 5, 2011 4:51am
Quoting wormboy
thanks ams

I have 1.564 if price can clear that big barrier @970, that sounds about right your level. But, cable's in a triangle atm, I have no bias atm. If it close topside, we'll see that 1.7
I'm keeping my options open on this one. Have a good one my friend!

Here's the same W1 working chart I've been using for a while now.

1. http://www.forexfactory.com/attachme...1&d=1281433282
2. http://www.forexfactory.com/attachme...2&d=1281433282
3. http://www.forexfactory.com/attachme...4&d=1281537494
4....

hey azim... about your chart... u think it's more relevant to draw your S&R level at the top of the shadows of those 2 candle (6350) or at 6270 (where some of the weekly candle closed)?
I don't want a job, i want money!
  • #10,568
  • Apr 5, 2011 4:52am Apr 5, 2011 4:52am
Quoting Xxavier
How about long EUR USD at this point? Looks like it needs some catching up to do compared to GBPUSD??
erm no, it doesn't need to play catch up to the cable. The PMI data earlier drove that pair up, it was more sterling strength, the dollar had nothing to do with it. Check your EurGbp chart & you'll see what I mean.

That being said, eurusd does look like it's basing here doesn't it, well don't let it fool you to get in too early, the stall here, from TA point of view are with reasons.

Quoting wormboy
Currently price is testing the i/d pivot support @4175 & the W1 pivot @4166. Any sort of reversal forms here I will bail outta short, else if price continue to slide I will find an opportunity to add further.
So, ideally if I'd consider buying, I'll at least let price close back above yesterday's low which is @1.4192
Personally, even if that happens it's still not attractive to me because we're still below the dp. But that's just me.
Thank You
  • #10,569
  • Apr 5, 2011 4:53am Apr 5, 2011 4:53am
Quoting dario1002
hey azim... about your chart... u think it's more relevant to draw your S&R level at the top of the shadows of those 2 candle (6350) or at 6270 (where some of the weekly candle closed)?
No.

Those are major levels, look at how far back since I've been using them.
Thank You
  • #10,570
  • Apr 5, 2011 5:00am Apr 5, 2011 5:00am
Quoting Rapid
Azim,

Just now at R2 (16223) I shorted but clearly that did not work. Sometimes it work. Do we just wait and look at the reaction? Normally I every day after I calculate the pivots I will put a standing order on these levels. How do you normally trade the pivots?

Thanks

Regards
David
6226 is the pivot R3 mate. I can understand why you sold it, but why it didn't work at the time you sold was no coincidence. At the time you sold the adr was only at 140 pips & there was still room to move up. That's why I told dario not to go for it.
Currently it's at 157 pips almost to adr completion, but like I said earlier, don't assume this is the top just yet.
Thank You
  • #10,571
  • Apr 5, 2011 5:05am Apr 5, 2011 5:05am
Can you explain what is adr?

Thanks


Quoting wormboy
6226 is the pivot R3 mate. I can understand why you sold it, but why it didn't work at the time you sold was no coincidence. At the time you sold the adr was only at 140 pips & there was still room to move up. That's why I told dario not to go for it.
Currently it's at 157 pips almost to adr completion, but like I said earlier, don't assume this is the top just yet.
  • #10,572
  • Apr 5, 2011 5:07am Apr 5, 2011 5:07am
Quoting wormboy
Stop amended.

EurUsd

1. short @4213 sl @4260 (1.0)

Stop amended.

EurUsd

1. short @4213 sl @4210 (1.0)

Okay. Going out for dinner. Later boys, take care & good luck!
Thank You
  • #10,573
  • Apr 5, 2011 5:10am Apr 5, 2011 5:10am
Going for the next leg long 220 - 270 SL 190
  • #10,574
  • Apr 5, 2011 5:11am Apr 5, 2011 5:11am
Quoting Rapid
Can you explain what is adr?

Thanks
it's the average daily range.
Thank You
  • #10,575
  • Apr 5, 2011 5:58am Apr 5, 2011 5:58am
still nothing for me... don't know if it's just me.. but i don't see any proper setup.. not since LO. my bias is short.. but what is the point of selling EU right at the WP or even 10 pips higher?

as for GU... it went up there so will wait for it to decide where to go before doing anything...

how do u think guys?
I don't want a job, i want money!
  • #10,576
  • Apr 5, 2011 5:58am Apr 5, 2011 5:58am
Quoting chazzle
Going for the next leg long 220 - 270 SL 190
I take half off the table 16238 SL @ BE and let the rest run
  • #10,577
  • Apr 5, 2011 6:06am Apr 5, 2011 6:06am
actually, I am looking to long eu, but waiting at aleast for 1hour close above 1,42 or try to scalp to go long near 200ema on 1h, it is in the middle of 50-61,8 fibo from nfp upmove, sl around 1,4125 but will see depends on PA
  • #10,578
  • Apr 5, 2011 6:12am Apr 5, 2011 6:12am
Quoting chazzle
I take half off the table 16238 SL @ BE and let the rest run
close the rest 16229 - NY could push it up further but I don't see it happening yet
  • #10,579
  • Apr 5, 2011 6:35am Apr 5, 2011 6:35am
Quoting wormboy
Stop amended.

EurUsd

1. short @4213 sl @4210 (1.0)

Okay. Going out for dinner. Later boys, take care & good luck!
Closed.

EurUsd

1. short @4213 closed @4168 (1.0)
Thank You
  • #10,580
  • Apr 5, 2011 6:53am Apr 5, 2011 6:53am
Quoting wormboy
Closed.

EurUsd

1. short @4213 closed @4168 (1.0)
Nice one geezer
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