Newtron Bomb
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June '04 Forex
- Thread starter Newtron Bomb
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Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Just when you think its safe to enter the water...
The above chart did look like a reversal and an asym tri, however as new information unfolds the pattern changes. There was a nice early warning of a messy day from about 9am which i have been playing with but its all on the chart for you to look at.
No swift follow through on the BO to target with a reaction off the 50% fib of the days high/low range with a nice hammer too...
Is this just support becoming resistance? or are we looking at a channel
Regards
NB
The above chart did look like a reversal and an asym tri, however as new information unfolds the pattern changes. There was a nice early warning of a messy day from about 9am which i have been playing with but its all on the chart for you to look at.
No swift follow through on the BO to target with a reaction off the 50% fib of the days high/low range with a nice hammer too...
Is this just support becoming resistance? or are we looking at a channel
Regards
NB
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Well I thought June may be busting out all over. I'm sure my bank will be busting with laughter after taking a long on cable at 18403, long Euro at 12257 and a short on swissy at 12454. If only I had put all the positions in reverse. Tomorrow is another day................
Welshmal - if its any help - I went short on the MACD & RSI ND at 1.2251, was feeling quite pleased with myself as it dropped - even more pleased as it started consolidating for another drop (or so I thought). Closed at 2240 as it rose unexpectedly.
To rub it in, it dropped big time a few min after I closed.
Then my big mistake came after it started up after the spike down - chance to get in with a short on the pullback I thought - finished the day 20 points down in the end. Analysing back, my mistake was being impatient, bored and over eager to make up for my first trade that I closed to early - I broke my rules.
To save your bank balance, I would suggest commiting money on the safest entries - use a demo account for other riskier trades.
To rub it in, it dropped big time a few min after I closed.
Then my big mistake came after it started up after the spike down - chance to get in with a short on the pullback I thought - finished the day 20 points down in the end. Analysing back, my mistake was being impatient, bored and over eager to make up for my first trade that I closed to early - I broke my rules.
To save your bank balance, I would suggest commiting money on the safest entries - use a demo account for other riskier trades.
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I try and post as frequently as possible to demonstrate the reality of trading. Some days are good, others not so. However, I feel that we are a community with a variety of experience and knowledge. Hopefully it is of benefit to all to read and share experiences. The learning curve is steep and on-going but I note this thread is read by a large number of people. I would encourage you to share your thoughts and experience.
On Jonny T's system I have cable at 18463/18445 with a break out now to sell already hit. However holding back as the chart suggests a rise rather than a fall. The Euro/dollar looks as if it may well produce the same but here again I feel we are due to go further north.
Hi ppl,
Well I'm short Euro from 1.2268 using the 7-10 BO system.
CC : You're ascending triangle pattern looks good - however, could the chart also be showing a double top at 7:00 on the 28th and 7:00 and 8:00 today ? I dunno !
I had a losing day yesterday (35pips) so I hope for a win today.
Good luck everyone.
Regards,
Well I'm short Euro from 1.2268 using the 7-10 BO system.
CC : You're ascending triangle pattern looks good - however, could the chart also be showing a double top at 7:00 on the 28th and 7:00 and 8:00 today ? I dunno !
I had a losing day yesterday (35pips) so I hope for a win today.
Good luck everyone.
Regards,
