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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #13,981
  • Jun 10, 2011 2:42am Jun 10, 2011 2:42am
Quoting wormboy
Same stop as before nav, 6030.
Careful as always brother thanks .... but my D4 is still pointing up



fingers, nuts all crossed . I've held the trade this long, might as well wait till the daily close later. We've already done close to 130 pips daily range without even testing the dp barely an hour into LO, so we'll know later if this drop is a fake or the real deal later. I'll pull the plug on the trade if the close today is bearish that is for sure.
Ive got a large buy in at 1.6248, so we will see
Dr. C
  • #13,982
  • Jun 10, 2011 2:44am Jun 10, 2011 2:44am
Quoting ams
Sudden drop in pound, not understandble as other pairs are not that badly effected but we have news @ 9:30 so I expect it to go back up after screwing SL's. It'll range 60-65 until BOE raise rates I reckon.

Might see 6150 but that's it...next week all week pound will be in focus. Volatile market will be at it's fullest for cable. Not sure how wormie will manage his positions, it's daunting to see the drawdown and much hard to take the SL. I know what he'll do but I do not know what I would be doing in that scenerio might let the drawdown run...
Don't think I can stomach another 300 pips drawdown brother, that'll wipe out last month's gain completely. I will decide what to do with this trade before ny close later
Thank You
  • #13,983
  • Jun 10, 2011 2:46am Jun 10, 2011 2:46am
Quoting cvcamper
Ive got a large buy in at 1.6248, so we will see
you're lucky, my large buy is about 150 pips higher
Thank You
  • #13,984
  • Jun 10, 2011 2:50am Jun 10, 2011 2:50am
For those that care, this is what I see.

I see strong confluence on GBP/USD.

61.8 Fib, Parallel channel, and Previous S+R around 1.628
Attached Image (click to enlarge)
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Dr. C
  • #13,985
  • Jun 10, 2011 2:57am Jun 10, 2011 2:57am
Quoting nAVIN2007
ok..i put it down to bad early morning blues..i take my comment back
No you were right the first time mate
  • #13,986
  • Jun 10, 2011 2:59am Jun 10, 2011 2:59am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I knew it, You move fast which is a sign of good trader!!

Quoting wormboy
Don't think I can stomach another 300 pips drawdown brother, that'll wipe out last month's gain completely. I will decide what to do with this trade before ny close later
  • #13,987
  • Jun 10, 2011 3:06am Jun 10, 2011 3:06am
The upcoming gbp news might help you, but could also make things worse.
Why donīt you simply set up a s/l 30-40 pips below the actual course value.
In the case the price is falling further you are only losing another 30-40 pips, but not another 100.
If it takes you out you can come back with your buying efforts at a better price.
Anyway, I hope the news work in favour of you -
  • #13,988
  • Jun 10, 2011 3:07am Jun 10, 2011 3:07am
Quoting wormboy
you're lucky, my large buy is about 150 pips higher

this is where i think it is going and will buy at the red line..retest of the support..then up..1.70

or 1.54 if it dont hold

1.60 has confluence with weekly s3 and there a very good chance it may bounce..u not thinking about hedge?
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  • #13,989
  • Jun 10, 2011 3:08am Jun 10, 2011 3:08am
Quoting chazzle
No you were right the first time mate
No he was not chazzle.
  • #13,990
  • Jun 10, 2011 3:17am Jun 10, 2011 3:17am
Quoting nAVIN2007
if this goes wrong i want u do ask yourself something..

why u buying when the price is falling?

be lucky my man!!
Short term retrace was the idea. Got stopped out already and went short.
  • #13,991
  • Jun 10, 2011 3:17am Jun 10, 2011 3:17am
Quoting ams
I knew it, You move fast which is a sign of good trader!!
cheers ams!
Thank You
  • #13,992
  • Jun 10, 2011 3:18am Jun 10, 2011 3:18am
azim consider a hedge..this is what yur fighting

theres almost nothing to stop it


edit:- wait for pullback to breakout area i would thou..jus incase
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  • #13,993
  • Jun 10, 2011 3:20am Jun 10, 2011 3:20am
Quoting CandleStar
The upcoming gbp news might help you, but could also make things worse.
Why donīt you simply set up a s/l 30-40 pips below the actual course value.
In the case the price is falling further you are only losing another 30-40 pips, but not another 100.
If it takes you out you can come back with your buying efforts at a better price.
Anyway, I hope the news work in favour of you -
Because you don't trade the htf with a tight stop.
1.http://www.forexfactory.com/showthre...80#post4667980
Thank You
  • #13,994
  • Jun 10, 2011 3:22am Jun 10, 2011 3:22am
Quoting nAVIN2007
azim consider a hedge..this is what yur fighting

theres almost nothing to stop it
No way bro. No hedge. If I have to cut my losses later I will do it.
Thank You
  • #13,995
  • Jun 10, 2011 3:24am Jun 10, 2011 3:24am
Quoting wormboy
No way bro. No hedge. If I have to cut my losses later I will do it.

i hear yah..
i hate them things as well
  • #13,996
  • Jun 10, 2011 3:24am Jun 10, 2011 3:24am
150 pips range atm jeeezzz. Fuckin fridays
Thank You
  • #13,997
  • Jun 10, 2011 3:27am Jun 10, 2011 3:27am
Quoting wormboy
Because you don't trade the htf with a tight stop.
1.http://www.forexfactory.com/showthre...80#post4667980
Of course you are right.
I meant it only for this news situation.
Might save you some pips in the case the news do not work for you.

Good luck -
  • #13,998
  • Jun 10, 2011 3:39am Jun 10, 2011 3:39am
Quoting wormboy
150 pips range atm jeeezzz. Fuckin fridays

6270 is the last stand... passed that we will have freefall... + complete bearis formation on weekly.
I don't want a job, i want money!
  • #13,999
  • Jun 10, 2011 3:42am Jun 10, 2011 3:42am
Quoting dario1002
6270 is the last stand... passed that we will have freefall... + complete bearis formation on weekly.
are u in any trades?
  • #14,000
  • Jun 10, 2011 3:46am Jun 10, 2011 3:46am
Quoting nAVIN2007
are u in any trades?
nope.. most has been done during asia time... not shorting into support zone
I don't want a job, i want money!
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