|
|
 |
|
09-01-2008, 05:38 PM
|
|
Member
|
|
Join Date: Aug 2008
Posts: 7
|
|
|
not sure what happened...
But enjoyed 100 pips of the ride...
Was looking to short the GU at the opening of the daily candle, but missed it due to a call... By then it had dropped 40 pips so I only risked £2 a pip with my original stop in place, if I had caught it at open I was planning £5.. aaah well...
Waiting to see if it bounces off any Fibo's before going down again.. currently stuck at 23.6 line!!
|
09-01-2008, 07:27 PM
|
|
Member
|
|
Join Date: Jun 2008
Posts: 184
|
|
|
ABC correction in 5 min chart?
|
09-01-2008, 08:50 PM
|
 |
Member
|
|
Join Date: May 2007
Posts: 444
|
|
Quote:
Originally Posted by y_2008
ABC correction in 5 min chart?
|
likely scenario. I think market will try to test 7800/30 area when Europe opens.
A. |
09-02-2008, 04:45 AM
|
|
Member
|
|
Join Date: Aug 2008
Posts: 69
|
|
Quote:
Originally Posted by cmellon
I would expect 7790 to get some support and also have initial bounce. I will move SL immediately to break even when I am in, let's say 50 pips profit. If this price is what I expect to be LTD 12 point, price will never retrace lower than this point anymore. If price retraces lower and hit my SL at break even, I don't lose a dime, and will continue to analyze another possible reversal point.
Profit Target:
It's up to you, but LTD 13 is not due until end of December.
I can open, let's say 5 lots of long, and then decide to close 2 lots at 500 pips profit, 1 lot at 700 pips profit, 1 lot at 1000 pips profit, and another lot just keep holding until end of December.
|
Hi Cmellon,
it is there and not stopping... 
Cheers,
-PE |
09-02-2008, 04:51 AM
|
 |
Member
|
|
Join Date: Apr 2008
Posts: 1,654
|
|
Quote:
Originally Posted by pipsempire
Hi Cmellon,
it is there and not stopping...
Cheers,
-PE |
Yeah. This is the level where it's supposed to stop at least for a while?
I have attempted long this time... let's see |
09-02-2008, 05:08 AM
|
|
Member
|
|
Join Date: Aug 2008
Posts: 69
|
|
Quote:
Originally Posted by cmellon
Yeah. This is the level where it's supposed to stop at least for a while?
I have attempted long this time... let's see
|
what is your entry and SL? |
09-02-2008, 05:11 AM
|
|
Member
|
|
Join Date: Apr 2008
Posts: 1,654
|
|
Quote:
Originally Posted by pipsempire
what is your entry and SL?
|
7790 entry. SL soon to be at Break Even |
09-02-2008, 05:28 AM
|
|
Member
|
|
Join Date: Aug 2008
Posts: 57
|
|
Quote:
Originally Posted by cmellon
7790 entry. SL soon to be at Break Even |
Hi Cmellon, how many lots are you in with?
I was expecting around 1.7760ish to be a low and had an entry there, but guess it may not get there 
All the best!
Cheers |
09-02-2008, 05:42 AM
|
 |
Member
|
|
Join Date: Jul 2007
Posts: 467
|
|
Quote:
Originally Posted by cmellon
Yeah. This is the level where it's supposed to stop at least for a while?
I have attempted long this time... let's see
|
Well, If it is not stoping at this level.. Watch for 1.7250 & 1.7050 for your next turning points.. this is the low from 2005... 3yr drive... Take all the gains back in 1 to 2 months.. |
09-02-2008, 06:42 AM
|
 |
Member
|
|
Join Date: Jul 2008
Posts: 46
|
|
|
Short, Long or Both?
Quote:
Originally Posted by cmellon
7790 entry. SL soon to be at Break Even |
Cmellon - Thank you for sharing with all of us, all your research and your insightful information.
Have you closed all your short and started only longs or are you still carrying both long and shorts? It is hard to believe that this short trend to continue for much longer. I know you mentioned last week that due to the Matrix count that you were not expecting a long term reversal till mid September. Any ideas? |
09-02-2008, 06:50 AM
|
|
Member
|
|
Join Date: Apr 2008
Posts: 1,654
|
|
Quote:
Originally Posted by Flguy
Cmellon - Thank you for sharing with all of us, all your research and your insightful information.
Have you closed all your short and started only longs or are you still carrying both long and shorts? It is hard to believe that this short trend to continue for much longer. I know you mentioned last week that due to the Matrix count that you were not expecting a long term reversal till mid September. Any ideas?
|
Hi Flguy,
I have already got in 5 lots of long at 7790. My stop loss is set at 1 tick lower than the lowest price in my FXCM trading platform, which is 7778. Today's low 7779 maybe is ITD 8 low.
I don't have short anymore. Will hold this long and see where market is heading. In my previous analysis, ITD 10 at mid Sept could have the potential to be lower than ITD 8 lowest if ITD 10 is the LTD 12.
However, after further analysis, it seems to me that ITD 8 could well be the LTD 12 itself.
If LTD 12 is correctly identified, largest trend will be up until perhaps late December.
Happy Trading.
|
09-02-2008, 06:58 AM
|
|
Member
|
|
Join Date: Jun 2008
Posts: 81
|
|
|
not buying just yet. can't see any definate reversal signs in the studies.
Could be blind though, anyone see anything different to me?
|
09-02-2008, 07:03 AM
|
|
Member
|
|
Join Date: Jul 2008
Posts: 46
|
|
Quote:
Originally Posted by cmellon
Hi Flguy,
I have already got in 5 lots of long at 7790. My stop loss is set at 1 tick lower than the lowest price in my FXCM trading platform, which is 7778. Today's low 7779 maybe is ITD 8 low.
I don't have short anymore. Will hold this long and see where market is heading. In my previous analysis, ITD 10 at mid Sept could have the potential to be lower than ITD 8 lowest if ITD 10 is the LTD 12.
However, after further analysis, it seems to me that ITD 8 could well be the LTD 12 itself.
If LTD 12 is correctly identified, largest trend will be up until perhaps late December.
Happy Trading.
|
Let the Force be with you. I know that I am supposed to make my own rules, but yours have become more profitable than mines.
I am jumping in the long band wagon as well. |
09-02-2008, 08:22 AM
|
|
Member
|
|
Join Date: Jun 2008
Posts: 66
|
|
|
In for two lots, too at 7795s after shorting one lot at 7830 and closing it at 7792. could not muster the courage to make it 10 long positions. will follow cmellon's SL and leave open the TPs. after the US reports, will evaluate if need to add more when it touches 7790 again (if it does it again tonight).
|
09-02-2008, 09:08 AM
|
|
Member
|
|
Join Date: Nov 2007
Posts: 28
|
|
|
GBP USD Market Moves Predictions
Quote:
Originally Posted by cmellon
Hi Flguy,
I have already got in 5 lots of long at 7790. My stop loss is set at 1 tick lower than the lowest price in my FXCM trading platform, which is 7778. Today's low 7779 maybe is ITD 8 low.
I don't have short anymore. Will hold this long and see where market is heading. In my previous analysis, ITD 10 at mid Sept could have the potential to be lower than ITD 8 lowest if ITD 10 is the LTD 12.
However, after further analysis, it seems to me that ITD 8 could well be the LTD 12 itself.
If LTD 12 is correctly identified, largest trend will be up until perhaps late December.
Happy Trading.
|
As a new, please accept my regards to anyone in this forum. Also - many thanks to anyone’s attemptions for predicting the market’s moves.
Cmellon, great pleasure to read your analysis, based on the Market Matrix tool. If possible, please share with us - are there any basic rules, applied in money management strategies, according to the features (time related) of this system.
Thanks in advance. Have a nice time.
ALF
|
|
|
| Thread Tools |
|
|
| Rate This Thread |
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is On
|
|
|
|
