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The WoRmHoLe

  • #18,601
  • Sep 16, 2011 5:50am Sep 16, 2011 5:50am
Quoting nAVIN2007
like i say..trading is more complicated than monthly bearish candles mean sell..
No it's not complicated Nav. A bearish weekly candle like that black marubozu means sellers are in control.
Let me ask you something since you have posted the monthly gbplfx chart right there, what good is the chart halfway into this month? Are you trying to point out that the dojis there? If so, let me remind you this, the dojis means they're just undecided. And a string of dojis are never a bottoming out formation. It can close a doji this month & close a big bearish candle next month & make it the falling three which is a bearish continuation pattern. And the monthly macd is still in the negative zone which means it is still in a downtrend, this is the monthly bro, the divergence can take ages to play out.

No offence, but I'm sure you're trying to justify your long position taken here to yourself above anyone else bro which is perfectly understandable but candle patterns are candle patterns, they are not complicated to understand.
Thank You
  • #18,602
  • Sep 16, 2011 5:51am Sep 16, 2011 5:51am
Quoting wormboy
I found this ... did you know??
There are some serious coincidences there for sure, but the very last one can't be true about Marilyn Monroe can it? She died a year before he did.
  • #18,603
  • Sep 16, 2011 5:52am Sep 16, 2011 5:52am
Quoting ams
all countries have their own set of problems.
UK debt and no growth, USA, more debt and no growth + no end to money printing
EU chances of bankruptcy by one or more nations. It's hard to categorize any to be honest.
Market at the moment is moving on positive or negetive sentiments wherever it comes from. I cannot say where it'll be but I see charts are reluctant to go beyond 58ishh for now. However this also means there are no buyers for GU and we know what happens if that's the case!! GU has a habbit of surprising and finding buyers at a...
AMS u have to understand it wont fly..it cant..people need to short..it will be slow, right now shorters will look for opportunity when they load that when the bitch will fly..look at the weekly..for a reversal on weekly we only need 50 pips up ..if dont even need that

if u play snooker..u will know u have to think several shots ahead..do the same with the market..it doesnt matter what the she does on small time frame the big picture will play out

anyway..thx god u guys didnt short here..nobody knows..u just have to play yur shit out..without fear
  • #18,604
  • Sep 16, 2011 6:03am Sep 16, 2011 6:03am
Quoting wormboy
No it's not complicated Nav. A bearish weekly candle like that black marubozu means sellers are in control.
Let me ask you something since you have posted the monthly gbplfx chart right there, what good is the chart halfway into this month? Are you trying to point out that the dojis there? If so, let me remind you this, the dojis means they're just undecided. And a string of dojis are never a bottoming out formation. It can close a doji this month & close a big bearish candle next month & make it the falling three which is a bearish continuation...
formations mean nothing in a range..only in the breakout areas..and the point of the monthly is to show..a potential marked bottom..notice the doji for example forming the touch on trendline and closing higher than the previous..the trend is weakened to the downside..it wont tell u any more than that..for now

I promise u..i complete know what i doing and there no way in hell id consider selling here but i can be wrong for sure and if that happens im happy to close out..

that is all u can do..but im in control for sure..that much i know

lets see what happens
  • #18,605
  • Sep 16, 2011 6:04am Sep 16, 2011 6:04am
Quoting nAVIN2007
AMS u have to understand it wont fly..it cant..people need to short..it will be slow, right now shorters will look for opportunity when they load that when the bitch will fly..look at the weekly..for a reversal on weekly we only need 50 pips up ..if dont even need that

if u play snooker..u will know u have to think several shots ahead..do the same with the market..it doesnt matter what the she does on small time frame the big picture will play out

anyway..thx god u guys didnt short here..nobody knows..u just have to play yur shit out..without...
I would just say that if you're playing the monthly chart, then you have to go with what you see and believe its going to do as you've rightly said. What I wouldn't be doing is waiting for that to play out. As someone who trades to earn a living, I couldn't afford to do that. Why are you not looking at other currencies perhaps on a more short term basis to earn some money in the meantime. You're an excellent trader and I'm sure there have been many setups while GU has been going the wrong way, to have made up a lot of the loss in your equity the drawdown is causing. If you're already doing that, tell me to shut up
  • #18,606
  • Sep 16, 2011 6:07am Sep 16, 2011 6:07am
And since we're on the subject of long term let's not forget the quarterly.
The pinbar needs no mention, we've talked about that one a few months back, but I just cannot see how cable will not test 1.55 at least once after sliding this far, after all 1.55 level was the launchpad that took cable towards 67xx level after being stalled there for quite some time.
I can see cable pulling back toward 6000 or 6100 level (and lets not forget 6154, I've been highlighting the importance of that level since January. Graham will remember). But I just simply cannot see cable turning the full thousand pips without retesting 5500 level at least.

Anyway just a thought, I know no one trades on these large timescales, but we still need reference from this HTF to map out the daily trades.
Attached Image
Thank You
  • #18,607
  • Sep 16, 2011 6:11am Sep 16, 2011 6:11am
Quoting wormboy
And since we're on the subject of long term let's not forget the quarterly.
The pinbar needs no mention, we've talked about that one a few months back, but I just cannot see how cable will not test 1.55 at least once after sliding this far, after all 1.55 level was the launchpad that took cable towards 67xx level after being stalled there for quite some time.
I can see cable pulling back toward 6000 or 6100 level (and lets not forget 6154, I've been highlighting the importance of that level since January. Graham will remember). But I just simply...

i do agree completely that based on the quarterly that 1.55 looks on..but this is a big support and anything below the pin ..which is support can reverse it...this is why i have my stop below 1.53

it is also why i say 1.59 needs to hold as support
  • #18,608
  • Sep 16, 2011 6:15am Sep 16, 2011 6:15am
http://img717.imageshack.us/img717/3629/gbplfxh8.png

http://img254.imageshack.us/img254/9...xh41609pt2.png

GBP index, H4 reversal candle right @ the important level, so I'd be only looking for longs right now. Same on IEURX actually, above WP and MS1, yesterday it cleared the WP and managed to close above it. So can't really consider shorts right now.

That plus the USDX long-wicks below MR3 level on D1. Enough data for decision making. So if you are thinking short GU/EU, would be interesting to know why.

http://img809.imageshack.us/img809/6...ks16092011.png
  • #18,609
  • Sep 16, 2011 6:18am Sep 16, 2011 6:18am
Quoting ohammond
I would just say that if you're playing the monthly chart, then you have to go with what you see and believe its going to do as you've rightly said. What I wouldn't be doing is waiting for that to play out. As someone who trades to earn a living, I couldn't afford to do that. Why are you not looking at other currencies perhaps on a more short term basis to earn some money in the meantime. You're an excellent trader and I'm sure there have been many setups while GU has been going the wrong way, to have made up a lot of the loss in your equity...

apart from increase my leverage..this isnt a big deal for apart from having much higher capital risk..but its a long term thing..i could be in this for 1 years making 50% return..

this trade is about me pushing myself..seeing what i can take from an emotional level..more than anything
  • #18,610
  • Sep 16, 2011 6:23am Sep 16, 2011 6:23am
Quoting nAVIN2007

I promise u..i complete know what i doing and there no way in hell id consider selling here but i can be wrong for sure and if that happens im happy to close out..
I never said you don't know what you're doing don't put words in my mouth.
I said candle formations are simple, they are not complicated. Right now you call it a range but to some traders a thousand pips slide for a month reads downtrend.

Quoting nAVIN2007
and the point of the monthly is to show..a potential marked bottom..
See this I have a problem with, we had a confirmed bearish weekly close & you said trading is so much more complicated than that yet here you have no problems whatsoever highlighting a non confirmed monthly close formation & already you are assuming it bottoming out. Don't make sense to me at all.

Don't take it personally, I wouldn't & probably couldn't force your hand into cutting your loss. The argument WAS NOT regarding your ability to manage your trade, it was to argue that understanding candle formation is not at all complicated. If it bottoms out here & decide to turn back up a thousand pips then great I can near guarantee you I will not miss the ride back up but at what point would you call it a day if cable decides to continue to slip?
Thank You
  • #18,611
  • Sep 16, 2011 6:30am Sep 16, 2011 6:30am
Quoting nAVIN2007
apart from increase my leverage..this isnt a big deal for apart from having much higher capital risk..but its a long term thing..i could be in this for 1 years making 50% return..

this trade is about me pushing myself..seeing what i can take from an emotional level..more than anything
Then all's good
  • #18,612
  • Sep 16, 2011 6:34am Sep 16, 2011 6:34am
sorry guys, didn't mean to interfer with your intense discussion here.
And hi everyone, season greets to good traders, from west siberia here.

Anyhow, thought you might find it useful, so here it is.

http://img412.imageshack.us/img412/7...ly16092011.png
  • #18,613
  • Sep 16, 2011 6:38am Sep 16, 2011 6:38am
Quoting ruffryders
sorry guys, didn't mean to interfer with your intense discussion here.
And hi everyone, season greets to good traders, from west siberia here.

Anyhow, thought you might find it useful, so here it is.
Intense discussion is good. keeps us sharp. We're surely to learn something or at least freshen up our knowledge by doing so. Nodding in agreement like a troll all the time will lead to complacency

How's it going my friend, how's the new job treating you?
Thank You
  • #18,614
  • Sep 16, 2011 6:43am Sep 16, 2011 6:43am
Quoting ruffryders
sorry guys, didn't mean to interfer with your intense discussion here.
And hi everyone, season greets to good traders, from west siberia here.

Anyhow, thought you might find it useful, so here it is.
hey.. long time no see...

i wanted to talk to u about something.... can i send u a PM?
I don't want a job, i want money!
  • #18,615
  • Edited 7:00am Sep 16, 2011 6:43am | Edited 7:00am
Quoting wormboy
I never said you don't know what you're doing don't put words in my mouth.
I said candle formations are simple, they are not complicated. Right now you call it a range but to some traders a thousand pips slide for a month reads downtrend.



See this I have a problem with, we had a confirmed bearish weekly close & you said trading is so much more complicated than that yet here you have no problems whatsoever highlighting a non confirmed monthly close formation & already you are assuming it bottoming out. Don't make sense to me at all.

Don't take...
nah please take what i write with a pinch of salt..i just type and hardly read what i wrote, so i might come across rude..forgive meh not intentional

i wont lie im looking at the monthly as bottoming out..but looking at the 4hr we in a traingle..so im keeping track of it..bottom is tested and rejected so it tells me it can potentailly be a bottom

below 1.52 ..i will cut loss if it happens

weekly long wick downside..with regards to candle weekly monthly, u know what i mean..its just sometimes they can fail and these support 1.57. 1.55 1.53 are very tough..is all im trying to say!! bro

also look at the monthly 1.57 - 1.65 range..how many times did price bounce from here to to 1.65..u cannot underestimate is support is all im trying to point out
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  • #18,616
  • Sep 16, 2011 6:45am Sep 16, 2011 6:45am
Long 795 sl 760 tp 880
  • #18,617
  • Sep 16, 2011 6:46am Sep 16, 2011 6:46am
Chart
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  • #18,618
  • Sep 16, 2011 6:46am Sep 16, 2011 6:46am
Quote

How's it going my friend, how's the new job treating you?

Azim it's pretty good here actually, no traffic here, compared to Moscow, so that means I get to work within 10 minutes, instead of 2 hours. Fired my driver and driving on my own, got here a nice all-road SUV (one of the new cruisers). And regular flights back home, so I can keep myself close to the civilization.

Good time now (autumn) for fishing and duck hunting, although gotta keep yourself at distance from the bears.

So that's pretty much it, pumping oil and going hunting, doing trading, when there is stable Internet connection. That kinda reminds me that our IT guy was supposed to install the new WiMax tower on the field here.

Heard you did great with gold, that's excellent timing on that trade, gold seems to be one hot commodity nowadays.
  • #18,619
  • Sep 16, 2011 6:47am Sep 16, 2011 6:47am
and we don't want no yes man here.... eventually just some muppets
I don't want a job, i want money!
  • #18,620
  • Sep 16, 2011 6:48am Sep 16, 2011 6:48am
Quoting dario1002
hey.. long time no see...

i wanted to talk to u about something.... can i send u a PM?
sure thing, hit me up bro!
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