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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 6:00 am Post subject: Update... |
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The last bar closed at 1.2865. I assume it is a morning star(see the previous thread). So my long looks good as long as prices doesn't close below 1.2850!
Last edited by FrankC on Fri Nov 05, 2004 6:11 am; edited 1 time in total |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 6:10 am Post subject: |
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Hi...
I always like to add the candles to see what results and a morning star from my book adds to form a hammer and those 3 bars look pretty close.
John |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 6:12 am Post subject: |
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John, did you see the jump in GBP?
Last edited by FrankC on Fri Nov 05, 2004 6:19 am; edited 2 times in total |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 6:17 am Post subject: |
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Hi..
Oh yes watched that go....it has a mind of its own at times but confirmation of a move for me is as I said in a previous post is when the other pairs move also. |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 6:20 am Post subject: gbp/usd... |
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You really need a brain of steel to trade the cable. I can't handle the volatility of this pair. |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 6:24 am Post subject: |
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Hey John,
While GBP is exploding, I thought this might brings a moment of reading enjoyment:
http:/www.think-aboutit.com/native/prophecy.htm
Cheers mate.
ps. Oh, by the way. If you are long, make sure a very tight SL. Perhaps around 1.8380. |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 6:30 am Post subject: |
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Hi..
Thanks for the novel Frank...lol |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 6:40 am Post subject: |
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hi..
well momentum has come to a stop.. hammer forming on 1hr GBP but a while to go yet till end of bar.
No not in a trade as yet and I agree with trading GBP it is a little wild but I do like to watch it to get an idea of market momentum.
as I type things moving again. |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 8:30 am Post subject: Update... |
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Ouch! Stopped out with -45 pips.
Didn't expect a big spike like this, specially, after the election. |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 8:33 am Post subject: |
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Hi..
yes well i just dont like data...never got a chance to get in it moved so quick.
notice no wild swings one direction only so far.
only a pull-back which is always on the cards. |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 8:39 am Post subject: eur/usd... |
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Well, I reversed short at the first sign of retrace in the 5min. chart:
Sold 1.2830 SL 1.2880 (target open) |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 8:41 am Post subject: |
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John,
My logic is whatever behind the reason of this sharp move, it closed below the morning star. That's very bearish. Let's see I get whipsawed by the end of the day. |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 8:53 am Post subject: |
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Hi..
I would like to get in and not make the day a lost day but as I only look at 1hr and 4hr charts it would be a total guess as to whats going to happen. Till the next bar anyway. |
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FrankC
Joined: 23 Sep 2004 Posts: 269 Location: Chile
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Posted: Fri Nov 05, 2004 9:34 am Post subject: Update... |
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Stopped out(-50)
Whipsawed indeed. Done for the week. |
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John_M
Joined: 20 Oct 2004 Posts: 84 Location: Australia
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Posted: Fri Nov 05, 2004 10:34 am Post subject: |
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Hi..
Well Frank when are we going to learn...I missed my first entry and should have called it a day but no my brain was telling me get a trade in today so did with a 44 pip loss.
All the data was out at the same time so what was the reverse swing 30 plus minutes after the news... thats unusual. I expect a very quick swing at the start but not that late.
Now the market is not moving at all...go figure.
regards
John |
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