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  • #21
  • May 21, 2013 4:47am May 21, 2013 4:47am
Quoting GDR3k
Just entered short EURUSD @ 1.28846 on the pullback to the open price of that bearish engulfing 4hour candle, the open price is 1.28869 and this weeks pivot is at 1.28864. {image}
Closed for +15 just above the daily pivot.
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  • #22
  • May 21, 2013 5:33am May 21, 2013 5:33am
NZDUSD

Buy limit @ 0.8130, SL @ 8118. I don't fancy going long at the most obvious level as it's already been hit once before.
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  • #23
  • May 21, 2013 5:42am May 21, 2013 5:42am
Built these shorts on the way up yesterday. Got a bit nervous when it poked through the monthly 50% (orange)... lol
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Ghost Rider - WWTBMD?
  • #24
  • Edited 6:15am May 21, 2013 5:52am | Edited 6:15am
Quoting albchr
Built these shorts on the way up yesterday. Got a bit nervous when it poked through the monthly 50% (orange)... lol {image}
Looking good, 1.49 looks likely longer term

Got a level on GBPUSD @ 1.51186 with a buy order waiting incase it drops to there, fresh demand just above 1.51 and a daily resistance pivot @ 1.5117. As you can see price moved away from that area in the past with some conviction and hasn't been back since.
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  • #25
  • May 21, 2013 6:22am May 21, 2013 6:22am
Quoting GDR3k
{quote} Looking good, 1.49 looks likely longer term Got a level on GBPUSD @ 1.51186 with a buy order waiting incase it drops to there, fresh demand just above 1.51 and a daily resistance pivot @ 1.5117. As you can see price moved away from that area in the past with some conviction and hasn't been back since. {image}
Yep, if this next hour bar (4H for me) closes below 5125 I'll hold all these for lower. If not, I'll close the two weakest shorts which are the larger position sizes, protect the uppers and wait for more selling opportunities. I think 4900/4850ish and maybe lower is pretty clear at this point. USD and GBP news tomorrow will either confirm or change it though.
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Ghost Rider - WWTBMD?
  • #26
  • Edited 7:33am May 21, 2013 7:19am | Edited 7:33am
Just entered short on AUDJPY with very low risk @ 100.67, only a third of what I made on the previous trade, it looks like a gartley pattern is forming so if there is I'll ride it down to the 100.25 area and close out just above it. A daily resistance pivot is @ 100.74 and this weeks main pivot is @ 100.65.

"You have to risk money to make money"

Edit - Closed half the position for +10, stop is now at break even should it come back up, letting the other half run down to the .25 area.
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  • #27
  • May 21, 2013 7:57am May 21, 2013 7:57am
Quoting GDR3k
NZDUSD Buy limit @ 0.8130, SL @ 8118. I don't fancy going long at the most obvious level as it's already been hit once before. {image}
Missed my order by a fraction of a pip before bouncing back up, that order has now been cancelled.
  • #28
  • May 21, 2013 9:14am May 21, 2013 9:14am
Quoting GDR3k
Just entered short on AUDJPY with very low risk @ 100.67, only a third of what I made on the previous trade, it looks like a gartley pattern is forming so if there is I'll ride it down to the 100.25 area and close out just above it. A daily resistance pivot is @ 100.74 and this weeks main pivot is @ 100.65. "You have to risk money to make money"

Edit - Closed half the position for +10, stop is now at break even should it come back up, letting the other half run down to the .25 area. {image}
Closed the other half of the position at 100.29 Total of +38 on that move.
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  • #29
  • May 21, 2013 9:26am May 21, 2013 9:26am
Quoting GDR3k
{quote} Closed the other half of the position at 100.29 Total of +38 on that move. {image} {image}
Nice!

I did close the two weaker GU shorts and covered the other two. Hoping for a bounce to add but it's looking pretty weak. We'll see when this 4H closes at noon NY.
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Ghost Rider - WWTBMD?
  • #30
  • May 21, 2013 9:35am May 21, 2013 9:35am
Quoting albchr
{quote} Nice! I did close the two weaker GU shorts and covered the other two. Hoping for a bounce to add but it's looking pretty weak. We'll see when this 4H closes at noon NY. {image} {image}
I'd like a bounce back up from where its currently at (5117 area), my buy order was hit @ 5119, SL of 25 pips, I lowered the lot size on it considering the downmove we've had today. Lets see where she goes from here.
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  • #31
  • May 21, 2013 9:44am May 21, 2013 9:44am
Quoting GDR3k
{quote} I'd like a bounce back up from where its currently at (5117 area), my buy order was hit @ 5119, SL of 25 pips, I lowered the lot size on it considering the downmove we've had today. Lets see where she goes from here. {image} {image}
Closed half the position for +13, stop is now at break even.
  • #32
  • May 21, 2013 9:50am May 21, 2013 9:50am
Quoting GDR3k
{quote} I'd like a bounce back up from where its currently at (5117 area), my buy order was hit @ 5119, SL of 25 pips, I lowered the lot size on it considering the downmove we've had today. Lets see where she goes from here. {image} {image}
I'm rather hoping for bounce to 5160/70ish for more shorts. But I've banked 126 already with another 223 floating still so I'm already happy...lol
Ghost Rider - WWTBMD?
  • #33
  • May 21, 2013 9:50am May 21, 2013 9:50am
Quoting GDR3k
{quote} I'd like a bounce back up from where its currently at (5117 area), my buy order was hit @ 5119, SL of 25 pips, I lowered the lot size on it considering the downmove we've had today. Lets see where she goes from here. {image} {image}
Quoting GDR3k
{quote} Closed half the position for +13, stop is now at break even.
Closed the other half of the position at 5139, +20 in total.
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  • #34
  • May 21, 2013 9:58am May 21, 2013 9:58am
Quoting albchr
{quote} I'm rather hoping for bounce to 5160/70ish for more shorts. But I've banked 126 already with another 223 floating still so I'm already happy...lol
You're beating me, I'm currently on a little over +70 since this morning I should call it a day as that is more than enough.
  • #35
  • Edited 5:22pm May 21, 2013 5:01pm | Edited 5:22pm
Inserted Video




On a serious note -- EURUSD -- I've got an eye on yesterdays daily candle open price, I reckon there will be quite a few large buy orders there or some demand levels further down.

At the end of ranges where it looks to be changing direction, say if price was at the bottom of a range and a bullish candle appears, the next candle... price will often pullback to the previous bullish candle open price before continueing onwards, the same at the top of ranges too, a bearish candle appears -- price will pullback to the open price of the previous candle give or take a few pips of that particular candle. That happens on most timeframes, the daily, 1hour and 30minutes I've found work the best.

Today for example on EURUSD, price pulled back to one pip under Mondays daily bullish candle open price before moving away at speed. I missed it.

That red area on the chart below, the open price of that bearish candle with the large wick is 1.2973, there is likely to be a considerable bounce back down from that 2975 area. The bottom chart; the 1.2973 area lines up perfectly with untested supply.

You can't beat the MK1 Eyeball.
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  • #36
  • May 21, 2013 5:16pm May 21, 2013 5:16pm
Quoting GDR3k
http://youtu.be/ktKNEGSqLB4 On a serious note --
.... glad I'm short!
Ghost Rider - WWTBMD?
  • #37
  • May 21, 2013 5:20pm May 21, 2013 5:20pm
Quoting albchr
{quote} .... glad I'm short!
Because everyone says to go short as it can't possibly go any higher!
  • #38
  • May 21, 2013 5:29pm May 21, 2013 5:29pm
Quoting GDR3k
{quote} Because everyone says to go short as it can't possibly go any higher!
Of course! Everyone knows it's harder to fight gravity so it MUST fall first until it hits something......Bouncy! LOL

I'm thinking about closing the remaining GU shorts before Tokyo tonight. I see a rebound for better prices perhaps but want to see what tomorrow's noise brings.

Guess I should be happy with 338ish pips so far this week.
Ghost Rider - WWTBMD?
  • #39
  • May 22, 2013 3:12am May 22, 2013 3:12am
Quoting albchr
{quote} Of course! Everyone knows it's harder to fight gravity so it MUST fall first until it hits something......Bouncy! LOL I'm thinking about closing the remaining GU shorts before Tokyo tonight. I see a rebound for better prices perhaps but want to see what tomorrow's noise brings. Guess I should be happy with 338ish pips so far this week.
Quit while you're ahead its the best way, so you don't end up giving it all back like alot of people I see on here

Sell limit on EURJPY @ 133.255, going back to 14th January 2010, there's a supply area which hasn't been re-tested since priced moved away from it. 45 pip stop loss so I've lowered the lot size considerably, risk is megga low but I'd like to see a pretty big move back down from here so what the position lacks in the number of lots traded, will hopefully make up for it with the number of pips to counter that. A daily resistance pivot is @ 133.266 so a pip higher than my sell limit. A monthly resistance pivot is also at 133.221.

I may also look to short EURUSD just under 1.2973 going off last nights post further up ^^
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  • #40
  • May 22, 2013 4:02am May 22, 2013 4:02am
Hello GDR3k,

I would like to thank you for sharing your strategy with us
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