July '04 Forex

[Buk]

it sure as hell beats laying floorboards that's for sure!!!

nice trades NB/MT.....looks like the 'swing' is back on NB!! destination 1.90

 

[Newtron Bomb]

We are seeing a similar set up that we saw earlier although i think that this will break south. As i am expecting a pullback to about the 1.8650 area in line with a fib retracement level, and if it gets there will meet the tri BO target. Most likely this will stop me out of this trade but its friday ive had a good run today with several of my strategies. I may look to see what happens on Monday for a re-entry if the round number doesnt hold.

Regards
NB

 

[Newtron Bomb]

i really need to get a life!!!

Alternative view with a bit more information

And now am off out for a nice canldle lit macdonalds for 1

NB

 

[Buk]

:cheesy: my my my Mr Scouse, last of the big spenders!!

haven't eyeballed the charts much this week, but it certainly looks comfy up here at last....any slippery feet around the 8650 level should be met with good support just below, and it looks like the Fib (8500) on the daily has been cleared with enough vigour to shunt it further North!

like you say, next week should prove interesting.....best blow the sawdust off me screens & get some 'real' work done!! .......mind your manners in McD's, no queue jumping & keep those elbows down....poor little kids don't need no sore ears from your rough house tactics!

 

[MysticalTrader]

If I got the pips I wouldnt have been grumbling. I missed them after my non-greedy limit got filled

<grumble>

still, came out with a modest profit and so long as I make a small profit I ain't making a loss...

Cheers

MT

MT

90 pips gain on both in this market is fantastic big slap on the back. Like I said the other day if your making consistant gains like this a couple of time a week you will always be ahead of the game.
Dont beat yourself up about missing a top or bottom (unless you really are a mystical trader lol )

Happy Trading
NB

 

[Newtron Bomb]

MT
Sorry I missread your post as having taken the pips... back to school i go lol

NB

 

[MysticalTrader]

lol... np

gotta keep smiling, always tomorrow... (well, Monday!)

MT

MT
Sorry I missread your post as having taken the pips... back to school i go lol

NB

 

[fazalv]

Because of firewall restrictions I cannot access the forex chat room.

Currently short cable @ 1.8729

target 1.8660...1st fib.

Stopped out @ 1.8702

 

[Newtron Bomb]

Close position @ stop metioned above for +143 from entry

Waiting for PB to lower levels before looking for another long in line with my expectations.

Happy Trading
NB

 

[MysticalTrader]

as a matter of interest, where hav you set your stops?

MT

Because of firewall restrictions I cannot access the forex chat room.

Currently short cable @ 1.8729

target 1.8660...1st fib.

Stopped out @ 1.8702

 

[fazalv]

MT,

I took 1st lot profits @ 1.8699. Moved my SL to 8702 for the second lot...

 

[hammer]

Hi guys well done on profits! IMO looking like cable has topped, preference towards shorts now. Shorted this morning at 1.8713 out at 1.8696 only for 17 points. Dnt think im quite ready for the volatility of forex expecially gbpusd trade. Take quick profits/losses and run!

Keep up the good work guys

hammer :cheesy:

 

[MysticalTrader]

what a dogs dinner that was... :-((

Good job tomorrow will be better

MT

Hi guys well done on profits! IMO looking like cable has topped, preference towards shorts now. Shorted this morning at 1.8713 out at 1.8696 only for 17 points. Dnt think im quite ready for the volatility of forex expecially gbpusd trade. Take quick profits/losses and run!

Keep up the good work guys

hammer :cheesy:

 

[frugi]

More hindsight

Yes another micro Wolfewave spotted on the Eur - let's see if it delivers tomorrow.

A nice bottom today with a smattering of the usual suspects in attendance:

Vol climax (this stood out miles better on the 5 min chart - a proper flurry it were )

3 step bottom 45 mins apart followed by a last dip stop run (the bar closed bullishly above the pivot at established support once the panic sold contracts had been snapped up. If I'd gone short on the fake breakdown this is when I'd realise I'd been tricked and close, perhaps!)
Bottom coincided with important trendline on 60min chart (res switched to sup).

The first low of the 3 step bottom at 10:45 looked like a bottom but there was no long follow through. The second low, a retest at 12:00, was very tempting indeed to long and nimble fingers might have taken 15-20pips if they did. The spook out hammer bar was plain nasty but I'm starting to expect their ilk just when putting on a position looks like a no brainer. To trust a reversal it must be painful and difficult!

The ideal exit was after the 5 waves up at it knocked the trendline drawn from 16/7 high, though I exited too soon at 3, managing to scalp a short off 5 later to make up.

 

[Newtron Bomb]

gbp update

As i previously mentioned I was looking for a reversal for re-entering a long position. 1.8600 is a key watch area for me.

I am still looking for signs of reversal and ideally at the round number (just a personal preference) in the mean time ive taken a small short with smaller time frames which is currently in profit.

Happy Trading
NB

 

[Newtron Bomb]

frugi
brilliant analysis

NB

 

[frugi]

Cheers NB, just the scribblings of an amateur dark sider really

BINGO! Wolfe delivers with style. See how it pauses right on the line. Looking at the 60min it might be putting in a bottom here?

 

[darktone]

Agree lows might be made here, early days yet though.
We have Alan G to throw the spanner, reporting to the senate at 7.30 pm also

 

[gus]

EURUSD for 21.07.04 must make a high of 2420 to avoid a sell signal on my chart.
GBPUSD for 21.07.04 must make a high of 8651 to avoid a sell signal on my chart.

Looks lower

:arrowd: could go higher :arrowu:

 

[MysticalTrader]

Trying to hone my charting skills. Anyone else think this looks like another drop coming up? nice triangle with descending entry. 200MA line approaching from above...

MT