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Unfortunately my not so sizable account wouldn't allow me to stay much longer. It's a red week for me. I'll wipe the slate and start again next week. No worries. That's trading....
WTG pennies. You had more guts than I did holding that AU short.
Simple I finally gave up on that AU short for now. Took my loss and waiting for that top like you. As i mentioned earlier, it could easily go to .7200 or even .7300 I simply can't hold that long. I did take a quick 40 pips in an EU long to help compensate for that loss. I'm still in the hole though but no worries.
Thanks Kirby. Same to you. Good night.
I came across the maneuver while I was scanning videos but I click away from it to quickly and couldn't find it again. I've been looking ever since.
I've also decided to hold onto my positions on AU. May add a third once there's confirmation. I'm actually expecting what's called a "Lounge" or "Lang" maneuver to occur. Can't remember the proper term for it. But that's when prices make a violent move in one direction it retraces back or near where it started. Fingers crossed....
Hey Simple. I was doing well until I went short AU. I'm still holding it but it may run topside some more. Might have to cut it loose
Now you tell us, thanks Simple. Lol. AU has us trapped and can very well head to .7300 cause the panic selling will push it higher. Hate to let it go now but may have to cut my losses
Yeah I saw an IHS on the 15 min with a target of around .7119 I should've waited. But oh well.
Hard not to book that first 20 pips but instead I added. Looking for more.
Joined you short AU @ .7097 just under the round number
Yeah I remember that. You wouldn't let that thing go and it kept climbing against you. Lol. I've been there...a lot. Hey live and learn. I've gotten a lot better since I got my charts naked. Just gotta fine tune my entries. I'm more aggressive and like to jump in before confirmation which hurts more than it helps.
quan, pennies has been right often. Trading against his analysis has cost me dearly. He gets in positions a little early so you better have deep pockets or go micro but at the end of the day the charts are spot on.
Good point quan. As pennies just pointed out, I entered long because of 2 factors. First on the break and retest of a downsloping wedge pattern and an upsloping trendline expecting a bounce. Unfortunately that entry was under resistance and not to mention under a nice round number which rejected it and broke the trendline. I closed after about -20 pips. The wedge may still be in play but I'll wait for now.
Call me crazy but I went against the board and went long UCAD @ 1.40988. Might regret it later.
It's not that you were wrong Jav, it's just that once price moves outside of the forks then more than likely the trend has changed. Unless of course it immediately moves back inside. When that happens I just set up a new fork and delete the old one. Take a look at NU 4 hr. See how it sits just under that second set of forks?
Your welcome. Yeah I still use them from time to time and have success with them. It's that measured move that I like. The boxes tell you how far price is most likely to go almost to the pip. All you have to do is wait for the break one way or the other unless of course you're range trading.
Absolutely Jav, that's nice right there. And if you look at that last move down where the gravestone doji is at the right of the chart, the high of that candle would have hit right at the second set of forks if you had put one in between the original one. That's midway between the median line and the upper parallel. Would've been an excellent short entry. Nice....
Actually it's the same time frame. Hold the control button and double click the forks. That creates an exact copy of the original with the same angle. Then move the second one in the middle of the original( either up or down) where there is the exact amount of pips from line to line on each side. Here is Aud/Cad with the same concept.....
Notice price respects it on all time frames that are lower than the one you set it on.
Hey Jav, Hope you are doing well. Been a long time. When I use the pitchforks, I usually don't go lower than the hourly time frame but mostly 4 hr. Lately I've been adding a second fork in between the original forks. Kind of like schiff lines. Try it, you'd be surprised how price reacts there. I'll try to post a chart if I remember how to do it. It's been a while.
Closed the GJ short for now @ 28 pips. I'll keep an eye on it for re entry.
Hey Pennies, All is well and hopefully you can say the same. I'm still hanging in there and monitoring the board but just not posting as much. I had to strip my charts and get back to the basics. All price action now along with my pitchforks and divergence. Not even using moving averages anymore. When I jumped in on the GJ short, it almost immediately went 28 pips in my favor then quickly went 28 pips against me. Still holding though and will add to it on the retest. Normally I would've taken that profit but I'm getting better at that patience thing. Glad to see the board is active again. I'll be watching....
I jumped in on the GJ short @ 173.05 due to The daily posting that rising wedge. The tank is coming
Interesting Jav, Thanks for posting that
Same to you and yours, Simple. Enjoy your retirement.
Still long? Wow! You're a brave soul.
I was long NU too @ 6629. Closed it after 67 pip loss. Looks like it was a good move.
That's funny...and sad. The USD will soon follow unfortunately.
I held EU over the weekend. Took advantage of a 142 pip gap down at open. Nice start to the week.
I agree. They boost everybody's hopes in thinking they will raise interest rates so you short the majors. Then they pull the rug by leaving rates unchanged and the pairs skyrocket. Geez.
This market slight of hand is really getting on my nerves. Lean short then push prices higher and vice versa. Wish these wise guys just shut up.
This market slight of hand is really getting on my nerves. Wish these wise guys just shut up.
One computer says "under construction". The other one is up and running now.
OK thought it was my computer. Thanks
Apparently Ihub is only acting up on my computer. It's been down all day but works on my cell. Anybody else have problems?
Took the 18 pips on EU short. looks like jobless claims coming out in 30 min so with my luck I'd rather be on the sidelines.
Haha. Too funny
Exactly. I am guaranteed to give you at least 15 pips cause every time I take a position it reverses at least that much. No kidding haha