Currency trading (Aug 28th > Sept 1st)

[hornblower]

hb, what timespan is your definition of "long term"?

typically the 5th wave should be approx the same size move as the 1st wave. if the 5th wave exceeds 1st wave, then its possible that we are could still in wave 3.

however you have to beware of 5th wave failures, since the 5th wave is the most obvious to trend following market participents, and when everyone jumps on the same side of the boat, well.......

are you looking at Nov '05 to current ?

if thats the case, then we may have already completed the 5th wave :?:

Hi Martin
I was looking at a 1 year chart , daily bars ,starting on the 16th of April, 1st wave completed 1,9023 on the 12th of May

 

[martin brown]

Hi Martin
I was looking at a 1 year chart , daily bars ,starting on the 16th of April, 1st wave completed 1,9023 on the 12th of May

well, i guess its all down to interpretation. imo, the wave completed at 1.9023 was the 3rd wave.

 

[Offshore Trader]

I'm having one of those days. Got stopped out on the spike higher from the figs and then trying to sell at 94 put in an incorrect s/l so it was rejected...very annoying

 

[coolTrader]

I'm having one of those days. Got stopped out on the spike higher from the figs and then trying to sell at 94 put in an incorrect s/l so it was rejected...very annoying

Yep same here... but re-entered big time..

 

[dc2000]

shillings in, now lets see if Burntcake and his crew can move it

 

[martin brown]

shillings in, now lets see if Burntcake and his crew can move it

whats the entry price (& stop) ?

 

[coolTrader]

whats the entry price (& stop) ?

Is there some sort of code here? I thought he meant he had closed his shorts

 

[dc2000]

hi chaps
closed shorts and went long price was 15 didnt have a stop and money now off table and will go again tomorrow

 

[dc2000]

also I think cooldude said 9055 today

my fig is 9062 just before close would be nice

 

[dc2000]

just waiting for the boys to finish their cornflakes

 

[coolTrader]

now where are we heading this morning?

 

[hornblower]

now where are we heading this morning?

just what I was thinking !

 

[dc2000]

I wasn't

Is this the way to Amarillo

 

[hornblower]

well it seems to want to stay up this morning,
so thinking about 9050, for the top, and may go down from there

 

[coolTrader]

lets see how far we go today if at all anywhere

 

[coolTrader]

ok I cant stand it I am out will stand aside for now.. I should have followed my instincts and traded jpy pairs none of this nonsense there

 

[Offshore Trader]

I hope this isn't going to be a morning of messing around before the US figures. I am looking for another test of the overnight lows but not very confident

 

[coolTrader]

I have gone long short , long short long and lastly short. no follow through either way. I am off. take my few points and off.

There is a doji on the 5min chart which cannot be mounted at the moment. make of it what you will but I am off.


Cool throws hands up in air and leaves desk

 

[zuke]

Afternoon all. After a nice couple of weeks off, its back to the grind!! Currently, I am:

3 full lots
SHORT 8992
SL: 9042
Target 1: 8922
Target 2 : 8862
Target 3 : 8832

I trust we all had a nice (profitable) bank holiday?

This trade worked out quite well for me. I scaled out 1 lot at 8922 for +70 and scaled out the other two lots at 8921 (40 pip trailing stop) when it reversed. Now on the sidelines awaiting the next signal.

 

[wasp]

Is it down to August that cable is being so boring?

We have one good swing or move and consolidates for a week... looking back at last year or year before, a small move surpassed 30/40 pips easy, now its 10 if your lucky!