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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #12,801
  • May 20, 2011 2:05am May 20, 2011 2:05am
Bearish bias on EU and GU. Just gut feeling. Not tradeable (yet). Trade well, guys!
  • #12,802
  • May 20, 2011 2:56am May 20, 2011 2:56am
hello fellas...

after yesterday's slap.. here i am again sometimes we have to get punished for our greed, and that is not the first time that when i have over 70 pips in my pocket.. i let price go against me. Now for a couple of months i won't do that anymore.. till the next time

here is my view on EU or GU... i doubt i will trade anything else than this today, except maybe some rejection from some key point
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd4h20-05.gif Size: 31 KB
I don't want a job, i want money!
  • #12,803
  • May 20, 2011 3:27am May 20, 2011 3:27am
Quoting dario1002
hello fellas...

after yesterday's slap.. here i am again sometimes we have to get punished for our greed, and that is not the first time that when i have over 70 pips in my pocket.. i let price go against me. Now for a couple of months i won't do that anymore.. till the next time

here is my view on EU or GU... i doubt i will trade anything else than this today, except maybe some rejection from some key point

this is where i need to learn, can do it on demo but not so easy for me even on a micro account..when the high of yesterday broke, reverse

azim didnt hesitate pow!! ...straight 2lot right b4 1.63
we need to get strong in this department
  • #12,804
  • May 20, 2011 4:14am May 20, 2011 4:14am
itchy fingers... to short EU from here....
I don't want a job, i want money!
  • #12,805
  • May 20, 2011 4:19am May 20, 2011 4:19am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
this up move is rubbish...no strength it seems in any move made in the past few hours. However, I reckon we will see to 6320 atleast on cable and 4370ishh on euro before making the next move.


Quoting dario1002
itchy fingers... to short EU from here....
  • #12,806
  • May 20, 2011 4:21am May 20, 2011 4:21am
Quoting wormboy
Gonna stab cable.

GBPUSD

1. long @6199 sl @6125 tp @6287 (2.0)
Nice entry! I understand why you took the trade, but have some question regarding the profit target. I understand that the tp coincides with the WP @ around 1.6286, but I also notice (according to my chart) that the PA is nearing the top of the downward sloping TL and near the Daily R1 at around 1.6268 region.

Now I know there is not much gap between the two but is there any reason why you picked the WP as the target? Is it because it is the stronger resistance than Daily R1 or DTL? I would appreciate your thoughts.

PS. Might this be a good point to short?
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  • #12,807
  • May 20, 2011 4:24am May 20, 2011 4:24am
Hi Maharishi,

my guess is that the 6285 resistance is the logical step since it was the one that was tested (and strongly rejected) 2 days ago.. As a side note, I agree with ams.. there is serious lack of strength in this upmove - I am just waiting for failure at 6285 to short the sucker.
Money is the result derived from the execution of a skillset
  • #12,808
  • May 20, 2011 4:25am May 20, 2011 4:25am
Quoting Marquis
Hi Maharishi,

my guess is that the 6285 resistance is the logical step since it was the one that was tested (and strongly rejected) 2 days ago.. As a side note, I agree with ams.. there is serious lack of strength in this upmove - I am just waiting for failure at 6285 to short the sucker.
Yes I see it! Thanks for pointing it out, it makes sense. I must be getting blind not to have seen that!
  • #12,809
  • May 20, 2011 4:44am May 20, 2011 4:44am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Market is settling down...adjusting yesterday's UP move by US equities...wait for this to be settled. We have fixing around 12:15. You will see some movement then I reckon and later around 4ishh... It might surprise you on the UP side as everybody must be thinking on the same lines to short.

Banks balance their books before the weekend and what the counterparts did across the ocean. So where US bought, UK will sell to that level and start buying on their own for Asia or US to sell / settle later. They never leave books unsettled, might it take hrs - weeks.

Expect euro to go to 4285ishh where US started buying. Then next move to be decided UP or down, I bet UP.

ta
ams




Quoting Marquis
Hi Maharishi,

my guess is that the 6285 resistance is the logical step since it was the one that was tested (and strongly rejected) 2 days ago.. As a side note, I agree with ams.. there is serious lack of strength in this upmove - I am just waiting for failure at 6285 to short the sucker.
  • #12,810
  • May 20, 2011 4:49am May 20, 2011 4:49am
Quoting ams
Market is settling down...adjusting yesterday's UP move by US equities...wait for this to be settled. We have fixing around 12:15. You will see some movement then I reckon and later around 4ishh... It might surprise you on the UP side as everybody must be thinking on the same lines to short.

Banks balance their books before the weekend and what the counterparts did across the ocean. So where US bought, UK will sell to that level and start buying on their own for Asia or US to sell / settle later. They never leave books unsettled, might it take...
will keep an eye on it!
  • #12,811
  • May 20, 2011 4:58am May 20, 2011 4:58am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Good luck, I am putting a buy on euro for scalps at 42850.. SL 4230


Quoting Maharishi
will keep an eye on it!
  • #12,812
  • May 20, 2011 5:03am May 20, 2011 5:03am
Quoting ams
Good luck, I am putting a buy on euro for scalps at 42850.. SL 4230
With TP @ 1.4350 area?
  • #12,813
  • May 20, 2011 5:09am May 20, 2011 5:09am
Quoting ams
Good luck, I am putting a buy on euro for scalps at 42850.. SL 4230

still sidelines... but be careful... the break of 4250 will lead us to more downside... and that's cooking properly right now....
I don't want a job, i want money!
  • #12,814
  • May 20, 2011 5:12am May 20, 2011 5:12am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hoping that....

went in at 42750... with Sl @ 4230..


Quoting Maharishi
With TP @ 1.4350 area?
  • #12,815
  • May 20, 2011 5:14am May 20, 2011 5:14am
futures pointing down, EUR breaking through pivot and swissie heading up... it seems to me a day of USD strength.

It might be premature but:

Sell AUD/USD @ 1.0679 with S/L @ 1.0720

Lets see how it goes..
Money is the result derived from the execution of a skillset
  • #12,816
  • May 20, 2011 5:35am May 20, 2011 5:35am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
How about 1076 on Aussie
Good luck and hope u get your trade right!

Quoting Marquis
futures pointing down, EUR breaking through pivot and swissie heading up... it seems to me a day of USD strength.

It might be premature but:

Sell AUD/USD @ 1.0679 with S/L @ 1.0720

Lets see how it goes..
  • #12,817
  • May 20, 2011 5:46am May 20, 2011 5:46am
seem that the price rejected at daily r1 for cable····
Peace Yo!
  • #12,818
  • May 20, 2011 5:54am May 20, 2011 5:54am
this hourly close is very important for EU... might be the trigger for furter downside...
I don't want a job, i want money!
  • #12,819
  • May 20, 2011 5:58am May 20, 2011 5:58am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Same drama of yesterday go to 142 then goes backup...
Cancelled my long @ 425 on it...might look at 142 for direction....



Quoting dario1002
this hourly close is very important for EU... might be the trigger for furter downside...
  • #12,820
  • May 20, 2011 6:04am May 20, 2011 6:04am
Quoting ams
Same drama of yesterday go to 142 then goes backup...
Cancelled my long @ 425 on it...might look at 142 for direction....

damn... too bad RR on this short... TP should be around 50 pips, while SL should be at 100 pips...
I don't want a job, i want money!
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