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Fail Better

  • #3,621
  • May 30, 2012 12:50am May 30, 2012 12:50am
Quoting 9047
Ah shucks ... peer pressure
Now that everything has started moving I'm in (on the break).
I'm out of the EJ trade btw, left a load of cash on the table per the norm but a great trade.

Are you still in?
  • #3,622
  • May 30, 2012 1:04am May 30, 2012 1:04am
Quoting sam0182
I'm out of the EJ trade btw, left a load of cash on the table per the norm but a great trade.

Are you still in?
Out now.. could have done it about 15 minutes ago and would have taken more.
I add to it on the way off the M15 RRs. So it turned in to real nice account builder. But I'm not going to complain!

I'll wait to see how it reacts off 98.93 would nice to find an entry if wanders down to 97.04.

Otherwise:
Waiting for cable to re-test.

Also waiting for AUDNZD but kind weary as the D1 looks like H&S so it might retrace down to the neckline. But maybe I'm being too cautious.
  • #3,623
  • May 30, 2012 1:08am May 30, 2012 1:08am
Quoting 9047
Out now.. could have done it about 15 minutes ago and would have taken more.
I add to it on the way off the M15 RRs. So it turned in to real nice account builder. But I'm not going to complain!

I'll wait to see how it reacts off 98.93 would nice to find an entry if wanders down to 97.04.

Otherwise:
Waiting for cable to re-test.

Also waiting for AUDNZD but kind weary as the D1 looks like H&S so it might retrace down to the neckline. But maybe I'm being too cautious.
Sounds good, nice trade.

I scrapped AUD/NZD fyi...spread, close fta, slow moving pair not for me tonight. Still a good level IMO but I'm passing.
  • #3,624
  • May 30, 2012 1:09am May 30, 2012 1:09am
Check GU @ 1.56 (short), not a bad one either.
  • #3,625
  • May 30, 2012 2:34am May 30, 2012 2:34am
Quoting sam0182
Check GU @ 1.56 (short), not a bad one either.
dnt u mean 1.563 on cable for shorts ...
watching geppy for longs
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Simplicity is the key to success
  • #3,626
  • May 30, 2012 2:59am May 30, 2012 2:59am
http://i1084.photobucket.com/albums/...ls30052012.jpg

EJ is quite frankly the dogs najjers at the moment, the yen really gaining. Wary that UJ is at major support and could bounce here though.

Looking for an SFP of 97.02 next.
  • #3,627
  • May 30, 2012 3:03am May 30, 2012 3:03am
Kiwi H1 SFP.

I'd like to get short off the back of that broken H1 trendline.
  • #3,628
  • May 30, 2012 3:41am May 30, 2012 3:41am
Quoting Quidsey
http://i1084.photobucket.com/albums/...ls30052012.jpg

EJ is quite frankly the dogs najjers at the moment, the yen really gaining. Wary that UJ is at major support and could bounce here though.

Looking for an SFP of 97.02 next.
Where does Tom teach to place the target?
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WARNING: Don't follow me as I'm just learning
  • #3,629
  • May 30, 2012 4:07am May 30, 2012 4:07am
Quoting adam777
Where does Tom teach to place the target?
In the free webinars or the paid ones and in his live trading room.

He has hourly targets and daily depending on the set-up, but they are all based on S&R levels.
  • #3,630
  • May 30, 2012 4:24am May 30, 2012 4:24am
GbpUsd short.....not the best level i think.
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Patience is essential
  • #3,631
  • Edited 5:21am May 30, 2012 5:03am | Edited 5:21am
Well having sat on the sidelines yesterday, I've gone short GU @ 1.5609 - stop 1.5660 - target not sure yet... *

My first trade in several months!

* Right, having looked at things have moved stop to BE, closed half at 23% fib and set target at about 1.5530 (just above some daily S/R levels).
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  • #3,632
  • May 30, 2012 6:40am May 30, 2012 6:40am
Quoting squeezy
dnt u mean 1.563 on cable for shorts ...
watching geppy for longs
1.56 was my number...but it's all really a range for me.
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  • #3,633
  • May 30, 2012 12:42pm May 30, 2012 12:42pm
Quoting 9047
Ah shucks ... peer pressure
Now that everything has started moving I'm in (on the break).
Hope you made some money with that one.

I'm out Kiwi & EJ now.

Just wanted to repeat one of Toms tweets today in case you didn't get it:

Gold and Silver are trading on borrowed time. Both look set to collapse in coming days in my opinion.

Cue gold/silver going parabolic after I tout the bear side! But I can still see it in days ahead...as usual though all about the entry.

1523 in gold for break/retest to pivot short off horizontal s/r; in silver looking at the ascending H1 TL at 27.40...

...for the break and retest with an eye on the huge 26.16 for potential pyramiding
  • #3,634
  • May 31, 2012 1:28am May 31, 2012 1:28am
Anyone selling NU here? It's the first pair to retrace to back to previous support, which worries me as some others still have further to rise. Think I'll just watch and see what happens...
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  • #3,635
  • May 31, 2012 1:45am May 31, 2012 1:45am
Morning.

I came on to post a similar chart, but you just beat me to it!

I sold NZD/USD a couple of days ago, and am now looking to add to my short.

cheers
olpip
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  • #3,636
  • May 31, 2012 1:53am May 31, 2012 1:53am
I've gone down to a 5 min chart to try and get some clues if it's going to turn or not...
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  • #3,637
  • May 31, 2012 3:25am May 31, 2012 3:25am
Has anyone taken the Gold SFP? I haven't as I wasn't sure if the swing point was significant enough and I couldn't find any other confluence to encourage me to take the trade.

I do struggle with defining exactly how significant a swing point needs to be in order to take an SFP against it. I would not call this swing point a significant one at all but I have seen many of these minor swing points work.

However, I am trying to be more disciplined and to not trade if I am in any doubt.

I would be interested in other people's views and opinions, especially Badger Matt and Quidsey if they're around, and anyone else of course.

Thanks.
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  • #3,638
  • May 31, 2012 8:52am May 31, 2012 8:52am
Anyone else waiting for a retest of USD/CAD level? Was also hit back Jan 9th.

For SFPs I've learned to stay away from minor levels (to me, that means any level that is not significant on the Daily timeframe). I struggled for a long time to stay away from trading every SFP under the sun. There are enough trades between SFP and the break & retests that there is no reason to take anything other than the most obvious set-ups IMHO. I'm interested in hearing what other people have to say about this as well.
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  • #3,639
  • May 31, 2012 9:31am May 31, 2012 9:31am
Anyone else on UJ?

Maybe a little too premature to buy at this massive daily bear candle but the level is great and I also got a tight stop to shoot for a greater R.

But I will short for sure again at 78.7

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  • #3,640
  • May 31, 2012 9:33am May 31, 2012 9:33am
Quoting Czecze
Anyone else on UJ?

Maybe a little too premature to buy at this massive daily bear candle but the level is great and I also got a tight stop to shoot for a greater R.

But I will short for sure again at 78.7

Attachment
Iplayed this one too

SL=20 pips Profit 79.15
Greetings, BeLikewater
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