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07-21-2006, 06:43 AM #886
Aus mate...u still around?
07-21-2006, 06:49 AM #887
got trigged at 8580 and lost 80 pips on this one... second sl trig for the month for me... now it will be intrestin to see if gbp remains abobe 8540 or not if it does expect a new leg til 8900
Note Fresh shrt added to eur at 2680 sl 2810 small lot wil add more below 2650
07-21-2006, 06:52 AM #888
Varun, u gone long or you waiting?
07-21-2006, 07:03 AM #889
Waitin for conformation coz it wld be stupid to go long here and c the cable drop below 8500.. well for a long to come in play cable needs to maintain this level above 8540.. once i get conformation for a long entry will let u knw.. and i am sorry for all those who followed my long cable call and got trigged..
Originally Posted by Million$Man
07-21-2006, 07:08 AM #890
no need to apologise...
what confirmation do you look for.?
It seems to hover @.8560/65 for now..
MACD has crossed on the hourlies, howver the RSI is oversold...
07-21-2006, 07:11 AM #891
don't worry bout that a bit, varun, we all made our own decisions to go along with it as it made perfect sense to do so. im still a bit surprised it broke through as much as it did, i guess we all underestimated the impact of bernanke's dovishness.
Well the only reason i can think of the jump is the UK GDP came out higher than expected.
Last edited by NovyTrader; 07-21-2006 at 07:13 AM.
07-21-2006, 07:18 AM #892
I did not take the trade, as I mentioned I was waiting for the 4h RSI to cross. I'm learning and in the past few days I've been trying to make a call first and then confirm it with your calls. I have to admit that I've lost some profit by not entering the trade when you called and you got it right. However, if I and everybody else had followed you in the past few weeks, we would've been way way in front. To my opinion, 70% correct call is perfect. Yours is certainly much more than perfect. So, I think everyone would agree with me when I say that your trading strategy has been working far better than so many others. And I have learned alot from you.
So 80pips here and there. No SWEAT. Not even worth mentioning and appologising for.
07-21-2006, 07:18 AM #893
Took a 1 Lot SHORT @ 1.8570, SL 1.8588 with Trailing STOP. RSI on 1hr & 4hr is over 70 and 8581 was tested twice. Want to see what NY session does to Cable.
Varun, no need to feel sorry. Part of the game. Some u win, some u lose. So long as u hv more winners.
This is your money. Use it wisely. Don't blame your losses on others!!!
07-21-2006, 07:49 AM #894
Agree with all the rest Varun. We all make our own decisions based on the info that we have...if some of that info is your opinion, then so be it...still each of our decision...
Anyway, I did not sl at 2580...still shorting from my buy at 2544....where is support and resistance at?
07-21-2006, 08:01 AM #895
4hr chanel broke 55minutes ago, but it is going back inside the channel. If closes inside and RSI closes below, an opportunity to go short. Top of 1hr channel is around 8600. This might be a nice ride to the bottom of the channel. However, daily TL and RSI broken. But, day is still young. Might close below the TL. If that's the case, downtrend is confirmed. Any ideas, anyone agrees or disagrees.
07-21-2006, 08:03 AM #896
Well every one collectively supported their decisions and in deed Varun's. If such kind of understanding is in between us we will have good masters.....and ofcourse good trades. No worries......It is Forex once you lose then u will gain...if not now some time later....But we need to keep this thread going with good calls and trades......
07-21-2006, 08:15 AM #897
Varun I'm glad your around, I'm learning a lot from you, thanks for all your effort.
M$M just managed to escape at 18565. (will Probably slide now) Thanks for posting chart advise put one up last night on the wrong thread.
07-21-2006, 08:36 AM #898
I set up and entry order last night to buy on the other side of the channel and did pretty well.
All of the signs I saw last night really made me sceptical about a southward move so soon.
Although I was short last night because it seem logical and 8500 was really strong, so was the ADX, RSI and MACD was still positive.
I couldn't ignore such strong signs so I set an entry order about 20 pips above the top channel trendline (8520) and set my stop for the next trendline (8582) with a stop of 10 pips and trailing stop of 50.
It worked out pretty well. I some times us this strategy for NFP when I'm not sure which way it's going to go and it does well in this instance too.
But hands down Varun is the undisputed champ. Thanks for all of your help.
07-21-2006, 08:36 AM #899
Maybe try again around 18615. Any comments welcome.
07-21-2006, 08:52 AM #900
I would of liked to have seen that chart. I respect your point of view, it would be nice to see you post your thoughts, it keeps the thread interesting.
Last edited by aus1way; 07-21-2006 at 08:55 AM.