i say up as well. went long @ 5480 gold, oil too strong and think break of 1422 S&P was false. Looking for break of 5550 to target 5640 stop @ 5425

IF you take a look at the chart, you'll see why I prefare long side.

We need close above 1,5560 to see fiber advancing to 1,57.

Attached Images

 

tp @ 5560 looking to re-enter around 5525

the yen shorts from 104.90 avg finally all are out at 103.65...
almsot all of euro longs have met the tgt at 5574, with last one looking for 5660-80 hopefully.....

would be looking to reshort yen from around 104.30-55 region with tgts now looking ripe for 102.30 test........

GL ALl.............

__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

1.5590 and we're out of the range. Although some see this 1.5590 and 1.5620 as resistance, I think we moved out of the triangle. Oil is up up up, and I think that did the trick. Pity about the timing...Friday afternoon. Personally I dont feel like taking positions over the weekend. You never know what sort of news can cause a 100 pip gap or so.
But there's plenty of room on the upside, so not need to rush.
Nice weekend.

http://www.learncurrencytrading.com/...postcount=4872


VALID MORE THAN EVER
-)))))))))

Paulson, US Treasure Secretary, likes what he sees happening and indicates it will take a little longer for the housing sector to get back, and warns the stock market not to get to far ahead of things. That and the realization that oil supplies are up due to the suspension of stockpilling of statregic reserves and the increase from the Saudi output by 300,000 barrels a day should sink in over the weekend for a drop in oil and a rebound of the USD against all currencies. More dealing on the contract negociations for increased Iraqi crude output will also help. US consumers moving to high MPG vehicles, the one millionth Prius is on the US roads boasting 60 MPG US. Only 16 million to vacation this summer down from 30 million expected if fuel was cheaper. That will help as long as they spend for home activities.

My net gain was 139 pips captured as in the chart explanations. Support level breaks like 161.80 supersede (for me) initial stop-loss points, as more information appears.

Ready to go long again at 162.52 break. Your target seems doable

May 12 was an important reversal point, and if 158.60 breaks it will be a considerable change in sentiment. Since then, we have shoulder/support estabished at 161.25 - 161.42 over a period of 12 hours. Again, very strong support.

In one view, a pullback to 160.75 - 160.80 would offer a good buying opportunity. However, I think a break of the important 161.25 support could imply lower tests, to 160.20 and 158.60. So I would need to see very strong evidence to go long from that level.

Right now, I see a little more gain in a c-wave of a B up to 162.83 before another pullback. A high break of 162.94 - 163.08 of course implies 164.95 and beyond.

Tony Gold

That was bloody brilliant!!! But I still wonder how you didn't get stopped out on your long with the stop at 161.43 when after I read your post, it touched 161.25.

Anyway, I agree with your prognosis for EUR/JPY completely. And as EUR/USD closed above the key level after showing higher lows and highs for the most part of last week, I would be in dip buying mode for that pair.

Beautifully done...I closed down most of my trades with at least some profit, not huge, except for the AUD/JPY where I got dudded by those rumours of bond redemptions...it looks like the Aussie will not stop until it will be on par with the USD....

my long position should be closed early monday.

Closed half of longs at 1,5560 (didn't want to get hammered one more time). Rest still open. Hopefully we'll see 1,57. I was checking wheat future today and it looks like it'll go for another attempt for higher prices toward 900 US level.

added long at 5570 with tighter stops below 5555.......
bull flag clsoing it for a surge higher then 5600.
5633 follwoed by 5677-90...
i have better long entries however now waiting b/w 5505-28...
Fiber on chart...

EDIT:
Liquidated almsot half at 5610 ( i normally pile up heavily on any anticipation of a breakout and esp on flags or wedges..... stops ammended and looking to shed more at 5630.
the remainig would be stops below day low and initial bigger tgt at 5677...
would not be surprised if 5630-40 would end up beena temporary day high till we go in the IMM session.
EUR ZEW in next 40 mins.........
better longs from sub 5400 still in open as limit as of yet.

As indicated, riding yen shorts as well from 104.25, again liquidated partial at the 103.74. next bail off at 103.15-30. the remianig open for a re test of 102.30-60.....

i'm feeling the urge as this is the time to launch gbp longs... only problem is that i don't have a decent record with them........ don't want to get burn out on them..... maybe on next dip would take a single loner for a test of 9833...........

GL ALL>.......... Good way to start the week...........

Attached Files

fiber.doc (309.0 KB, 85 views)

__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

Could grind its way up to 1.5695 to complete a y of a larger C wave of a B or 2. This would be between the 50% and 61.8% retr. levels of the downwave, which is OK. Definitely corrective - the structure is no way impulsive.