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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #12,101
  • May 9, 2011 3:50pm May 9, 2011 3:50pm
Quoting lechidi
yeah a hammer seems to have formed on the daily but the MACD still printed a tick lower so i see the bears giving it a decent fight still....

always appreciate ur opinion as i am a noob
There might well be a retrace on this up move , that's why the SL is far out of the way - I looked at the other hammers formed this year and found retracements on all of them except one i think , so I wouldn't be surprised to see 350 tomorrow

It's best to have a few reasons to go in on a trade , so it's not just the hammer on D1 but the direction of trend , the divergence in stochastics and the o/s level also - I'm not going to worry about the macd being a tick this way or that

It's easy to overanalyze - S/R is the most important
  • #12,102
  • May 9, 2011 4:02pm May 9, 2011 4:02pm
Quoting chazzle
There might well be a retrace on this up move , that's why the SL is far out of the way - I looked at the other hammers formed this year and found retracements on all of them except one i think , so I wouldn't be surprised to see 350 tomorrow

It's best to have a few reasons to go in on a trade , so it's not just the hammer on D1 but the direction of trend , the divergence in stochastics and the o/s level also - I'm not going to worry about the macd being a tick this way or that

It's easy to overanalyze - S/R is the most important

thanks for ur feedback mate. i will still pay attention to the downslope of the 13 EMA on daily alongside that lower MACD tick. always produces a decent trade in its direction. it could also bring about a touch of the lower part of the ascending trendline before a proper bounce. that would yield over 100 pips at 1.6225. i watch and see. cheers
  • #12,103
  • May 9, 2011 4:04pm May 9, 2011 4:04pm
Quoting chazzle
I'm long from 16390 SL 16150

D1 about to print a nice hammer , hidden bullish div./o/sold and in an uptrend ...
closing 16420 - for the simple reason that its quick pips - will look to re-enter with the same idea
  • #12,104
  • May 9, 2011 10:33pm May 9, 2011 10:33pm
Long_GBPUSD@1,6370 SL1,6269 TP_1,6460
  • #12,105
  • May 9, 2011 10:36pm May 9, 2011 10:36pm
Quoting chazzle
closing 16420 - for the simple reason that its quick pips - will look to re-enter with the same idea
Long 16365 same stop as before
  • #12,106
  • May 9, 2011 10:40pm May 9, 2011 10:40pm
Quoting scurt
Long_GBPUSD@1,6370 SL1,6269 TP_1,6460
HaHa - great minds think alike?
  • #12,107
  • May 9, 2011 10:45pm May 9, 2011 10:45pm


hope this one will works

Quoting chazzle
HaHa - great minds think alike?
  • #12,108
  • May 10, 2011 12:15am May 10, 2011 12:15am
Can i ask u guys why u love to trade right during LO??? when 80% of times there is a fake retest of previous high or low and then it keeps going where it wants?
I don't want a job, i want money!
  • #12,109
  • May 10, 2011 12:20am May 10, 2011 12:20am
Because I trust HTF, this daily hammer is very good sign that market will go at least 60-70 pips above yesterday`s closing price. If not it is still worthy to try, because 8 out of 10 I win...

Quoting dario1002
Can i ask u guys why u love to trade right during LO??? when 80% of times there is a fake retest of previous high or low and then it keeps going where it wants?
  • #12,110
  • May 10, 2011 12:21am May 10, 2011 12:21am
good morning everybody by the way.. hope u had a good day yesterday
I don't want a job, i want money!
  • #12,111
  • May 10, 2011 12:25am May 10, 2011 12:25am
Quoting scurt
Because I trust HTF, this daily hammer is very good sign that market will go at least 60-70 pips above yesterday`s closing price. If not it is still worthy to try, because 8 out of 10 I win...

and i tend to agree with u... i just meant that waiting for LO (which usually gives us a fake movement), can give u a better entry ....
I don't want a job, i want money!
  • #12,112
  • May 10, 2011 12:30am May 10, 2011 12:30am
Agree, and I did add another 1/4 position another buy at 1,6336.4 but this pullback is like bonus for me (if the trading setup is correct). It should go just up after hammer, make those 40-60 pips and I will be without my money I need

all the best my friend...

Quoting dario1002
and i tend to agree with u... i just meant that waiting for LO (which usually gives us a fake movement), can give u a better entry ....
  • #12,113
  • May 10, 2011 12:34am May 10, 2011 12:34am
Aren't you guys buying cable forgetting something?

1. http://www.forexfactory.com/showpost...postcount=9463


Be patient. The current level WILL punish you if you're not. Good luck
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Thank You
  • #12,114
  • May 10, 2011 12:36am May 10, 2011 12:36am
Quoting dario1002
Can i ask u guys why u love to trade right during LO??? when 80% of times there is a fake retest of previous high or low and then it keeps going where it wants?
for the scalping ops , Dario
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  • #12,115
  • May 10, 2011 12:48am May 10, 2011 12:48am
Quoting wormboy
Aren't you guys buying cable forgetting something?
After last week , I respect your bearish sensitivities , but what do you make of the daily chart?

http://www.forexfactory.com/showthre...79#post4605379

Also - how do you think the H8 H&S is turning out? I've had a look but it's not so clear to me ...
  • #12,116
  • May 10, 2011 12:50am May 10, 2011 12:50am
eheh charls... i know u are a great scalper... just was pointing out what for me seems to be a useless risk to take, unless u don't intend to trade the fake itself

even this time duty was delivered... 40 pips down on the fake movement...
I don't want a job, i want money!
  • #12,117
  • May 10, 2011 12:50am May 10, 2011 12:50am
Scalping short 14373 SL 14413
  • #12,118
  • May 10, 2011 12:53am May 10, 2011 12:53am
Quoting wormboy
Aren't you guys buying cable forgetting something?

1. http://www.forexfactory.com/showpost...postcount=9463


Be patient. The current level WILL punish you if you're not. Good luck

i went long from the DP and targeting 6423 at least... yesterday's chart would have worked good... now i don't think there will be a clear direction and probably we will struggle (as we are already doing) between 6340 and 6420. General outlook is down, as we are under WP and MP, that is why i go long with half of my usual lotsize and short with the full usual lotsize
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I don't want a job, i want money!
  • #12,119
  • May 10, 2011 12:54am May 10, 2011 12:54am
Quoting dario1002
eheh charls... i know u are a great scalper... just was pointing out what for me seems to be a useless risk to take, unless u don't intend to trade the fake itself

even this time duty was delivered... 40 pips down on the fake movement...
I get your point , mate - especially as most of our moves are intraday , you need a pretty strong conviction I suppose , to place an entry before LO

I guess for med/long term though , session opens are just "noise"
  • #12,120
  • May 10, 2011 12:57am May 10, 2011 12:57am
Quoting chazzle
Scalping short 14373 SL 14413
Closing 14360
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