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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #15,541
  • Edited Jul 23, 2014 1:55am Jul 22, 2014 4:57pm | Edited Jul 23, 2014 1:55am
OK, I have decided the following:


I have reduced my long term shorts by 40% now here @ 3465

with offsetting long positions

I have following pending orders (all long)


@ 3452 (10% of short)
@3447 (10%) Edited: moved from 3443 to 3447
@3432 (10%)
@3422 (10%)

and biggy @ 3413 (30% - making me net long) Editet: wrote mistakenly 3408, but have it set to dailys pivot support 2
  • #15,542
  • Jul 22, 2014 5:05pm Jul 22, 2014 5:05pm
but, but, but.........


http://www.zerohedge.com/sites/defau.../picture-5.jpg
US State Department "Confident" MH17 "Mistakenly" Downed By Separatists, Finds No Direct Link To Russia
  • #15,543
  • Jul 22, 2014 5:07pm Jul 22, 2014 5:07pm
http://www.zerohedge.com/sites/defau.../picture-5.jpg
NY Fed Slams Deutsche Bank (And Its €55 Trillion In Derivatives): Accuses It Of "Significant Operational Risk"
  • #15,544
  • Jul 22, 2014 5:08pm Jul 22, 2014 5:08pm
http://www.zerohedge.com/sites/defau.../picture-5.jpg
How Effective Have The Fed's QE Programs Been?


  • #15,545
  • Jul 22, 2014 5:13pm Jul 22, 2014 5:13pm
Quoting infinitus
OK, I have decided the following: I have reduced my long term shorts by 40% now here @ 3465 with offsetting long positions I have following pending orders (all long) @ 3452 (10% of short) @3443 (10%) @3432 (10%) @3422 (10%) and biggy @ 3413 (30% - making me net long) Editet: wrote mistakenly 3408, but have it set to dailys pivot support 2
JFYI
  • #15,546
  • Jul 22, 2014 10:26pm Jul 22, 2014 10:26pm
Quoting vlady1974
{quote} Thanks for the EW count! Appreciate it. Douse the sub 4 count retrace have to be that high? with the levels, are these -1/8th or +1/8 of the Murrey Math Lines? cheers fella!

OK, had a second look guess for the retracing area:

lowest: 3496
highest: 3550
  • #15,547
  • Jul 22, 2014 10:29pm Jul 22, 2014 10:29pm
regarding Gold:


patiently waiting for the 1360 level to short the puppet

around 1280 may see the move starting to 1360
  • #15,548
  • Jul 23, 2014 1:21am Jul 23, 2014 1:21am
EU

EW count 2h TF

the green wave 3 may have ended already. In this case I expect a corrective rise towards the 3490-3550area. Oftentimes a wave 4 retraces 38.2% or 50% of wave 3. This would lead us towards 3528 or 3550.

If the green wave 3 is not finished yet, I expect now a rise towards the 3474 level with anozher drop towards the 3450 zone. Extended move may even bring the 3410-3420 area

I think this is a dangerous area to go fresh short
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  • #15,549
  • Jul 23, 2014 1:28am Jul 23, 2014 1:28am
Quoting infinitus
{quote} OK, had a second look guess for the retracing area: lowest: 3496 highest: 3550
Morning!

Yes, I'm going for the 3495 area too. 3520 was a major support that got broken that could get a spike, but I would enter shorts below 3500.
A pip is only worth it if you know how much you risked to earn it
  • #15,550
  • Jul 23, 2014 1:56am Jul 23, 2014 1:56am
Quoting infinitus
OK, I have decided the following: I have reduced my long term shorts by 40% now here @ 3465 with offsetting long positions I have following pending orders (all long) @ 3452 (10% of short) @3447 (10%) Edited: moved from 3443 to 3447 @3432 (10%) @3422 (10%) and biggy @ 3413 (30% - making me net long) Editet: wrote mistakenly 3408, but have it set to dailys pivot support 2

JFYI
  • #15,551
  • Jul 23, 2014 2:05am Jul 23, 2014 2:05am
http://rt.com/news/174768-putin-security-nato-ukraine/
  • #15,552
  • Jul 23, 2014 2:07am Jul 23, 2014 2:07am
http://rt.com/news/174808-france-uk-criticism-mistral/


LOL
  • #15,553
  • Jul 23, 2014 2:40am Jul 23, 2014 2:40am
Quoting infinitus
regarding Gold: patiently waiting for the 1360 level to short the puppet around 1280 may see the move starting to 1360
Yeh, sadly it doesnt look like we are gona see it for while. Especially if 1300 is taken. We have weakness right now with possible test of 1300, lets see what NYO does.
  • #15,554
  • Jul 23, 2014 2:40am Jul 23, 2014 2:40am
EU

playing field
Attached Image
  • #15,555
  • Jul 23, 2014 2:41am Jul 23, 2014 2:41am
EU

Murrey Math levels and directions (VWAP assisted)
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  • #15,556
  • Jul 23, 2014 2:43am Jul 23, 2014 2:43am
Virgin POC's

we took out a vPOC at 3458 recently
Attached Image
  • #15,557
  • Jul 23, 2014 2:49am Jul 23, 2014 2:49am
Volume distributions of EU

the 5 days distribution looks really strange


leaves a lot of area for retesting, me thinks


Attached Image (click to enlarge)
Click to Enlarge Name: mm.jpg Size: 557 KB
  • #15,558
  • Jul 23, 2014 2:53am Jul 23, 2014 2:53am
Quoting infinitus
EU playing field {image}
Hi infinitus,
May i ask which formula you use for atr? Wilder original or different. Thanks
  • #15,559
  • Jul 23, 2014 3:01am Jul 23, 2014 3:01am
Quoting Rockerzeus
{quote} Hi infinitus, May i ask which formula you use for atr? Wilder original or different. Thanks

for the last 5 days the formula looks at each day for the biggest value of:

H-L
H-C
C-L

after that, the values for the 5 days get aggregated, and the resulting value is divided by 5
  • #15,560
  • Jul 23, 2014 3:04am Jul 23, 2014 3:04am
Quoting infinitus
{quote} for the last 5 days the formula looks at each day for the biggest value of: H-L H-C C-L after that, the values for the 5 days get aggregated, and the resulting value is divided by 5
OK, I got it. Thanks. I am trying to understand why we are getting slightly different atr values
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