How did I know you were gonna report back ?
Great call FW :cheesy:
Great call FW :cheesy:
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
I think people are covering their longs around the same price I shorted. Price movement has become congested, 1 min DEMA has just given a sell signal, MACD has just turned bearish, and price seems reluctant to break resistence 2 pips overhead. Again, I have a stop at 11 so we shall wait and see. I'm half tempted to take a look at the order book to attempt to determine short term direction, but again my gut feeling tells me I am fiddlign too much. I have a stop at an acceptable level, I should move it to breakeven according to my plan, I should stay in the trade until my stop or limit is hit, according to my plan, and if I get to the point I think of interfering, I should go amuse myself somewhere else, also according to my plan.
Steve, I thought your post was spot on. I had nothing to add so just duplicated it for others to see. Exclamation was for emphasis because there was no need for words - self explanatory etc.......
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Two minute DEMA cross confirms entry.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Stop moved to +5. Not too much slippage on the YM, so hopefully a damn profit at long last!
Stops are in, emotions are out.
3 min DEMA cross confirms.
Stops are in, emotions are out.
3 min DEMA cross confirms.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
HS,
thanks for explanation......you'll normally find on a break of a round number i.e 13500, 13100,13400 etc the market will normally bounce around 80 on a downside break,rally up to 20ish....i.e break 13500,hit 13480 confirms break,rally up to 13520...then sell....
The opposite can be seen on breaks above e.g breaks 13300,gets to 13320,retrace to 13280...then buy. Emphasise this applies on trending days...
But notice todays high was 13620ish,broke back below 13580,which has been recent resistance and should've acted as support...once broken down we went..
I'd hazard a guess and say if 13480 is broken after 7pm we may get quite a bit lower....thats the key number tonight...
cheers
thanks for explanation......you'll normally find on a break of a round number i.e 13500, 13100,13400 etc the market will normally bounce around 80 on a downside break,rally up to 20ish....i.e break 13500,hit 13480 confirms break,rally up to 13520...then sell....
The opposite can be seen on breaks above e.g breaks 13300,gets to 13320,retrace to 13280...then buy. Emphasise this applies on trending days...
But notice todays high was 13620ish,broke back below 13580,which has been recent resistance and should've acted as support...once broken down we went..
I'd hazard a guess and say if 13480 is broken after 7pm we may get quite a bit lower....thats the key number tonight...
cheers
Atilla
Legendary member
- Messages
- 20,845
- Likes
- 4,027
from where are you in? this should be your day Atilla
so far it hasn't been mine hehe...
anyway I'm looking to go long on 13500 futures ~ 13475 cash
this area should provide some support
volume might give clues
Edit: and just entered from 13500 ... now off to grab a bite
Not that great but much better than last week. Decided to close my short yesterday before going to bed (scarred by the DOW). That was 40+ something.
Today 13517 in and got stopped out at 13475 whilst playing out side. So another +42.
Dare I say I should have gone in around 13537 but wanted to confirm H & S on the 10mins. So I haven't maximised but up over two days. However, made some more on FX today.
Also, looking at Gold can't believe it hit my target of 652. If I had stayed in could have made +60 plus on that too instead of the 40 locked away.
I know I'm getting carried away with my self and forgive me
but my analysis was correct just timing and execution offside. Even the hunches were more or less on target. I must say though I am learning all the time.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
480 just held. I'm looking for a rally above 510 to sell. Otherwise, an entry below 480 may be in order, but I think that is a little risky.
Update - it didn't like 500 there did it!
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Cheeky orders.
Sell limit at 504. Stop at 513.
They were set a few minutes ago, and look like they have no chance of being filled now. If 480 holds again, and subject to MACD on a 5 min chart confirming bullishness, I'll look for longs.
Right now, it is short or sidelines according to my system.
I've made a loss today, but nothing serious, and I think I may be able to get a few pips back over the next hour or so.
Sell limit at 504. Stop at 513.
They were set a few minutes ago, and look like they have no chance of being filled now. If 480 holds again, and subject to MACD on a 5 min chart confirming bullishness, I'll look for longs.
Right now, it is short or sidelines according to my system.
I've made a loss today, but nothing serious, and I think I may be able to get a few pips back over the next hour or so.
LL,
if it breaks 480 thats confirmation....but it will then try and reclaim it on a bounce....done that once already today after hitting 13462,bounced back above 80...after 7pm we'll see one way or other..
cheers
Atilla
Legendary member
- Messages
- 20,845
- Likes
- 4,027
I can see that... My standard error charts tell me we are in for a bounce.
On line graphs you don't see any of the spikes up or down. Look carefuly and 15600 rejection is not on the graph.
I think it might well be tried. 50/50.
Attachments
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
500 looks to be holding. I don't think I can get my cheeky sell filled. What a shame. I think the best entry I could hope for is a short at 500 on the nose again, but I seem to have misse that opportunity. While we aren't making higher highs, I'm a little concerned about the higher lows.
However, to be long, I'll need either 480 holding, or 510 breaking.
Anyone else see +ive divergence on the 150 period CCI over the last hour on the 1 min chart? That is about the only sell signal I have left here.
However, to be long, I'll need either 480 holding, or 510 breaking.
Anyone else see +ive divergence on the 150 period CCI over the last hour on the 1 min chart? That is about the only sell signal I have left here.
I can see that... My standard error charts tell me we are in for a bounce.
On line graphs you don't see any of the spikes up or down. Look carefuly and 15600 rejection is not on the graph.
I think it might well be tried. 50/50.
it takes its time atilla,
then again, those things can always fail. time.
Last edited:
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Ooops. My "cheeky order" has just been filled. The price doesn't seem to cheeky any more. In fact, I was considering pulling it. Will probably be stopped out at the 13.
That will serve me. I'm bullish above 20.
Stopped out. -9
That will serve me. I'm bullish above 20.
Stopped out. -9
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Anyone with a position? Looks like 480 may well hold. Should be bullish if it does. Some positive divergence on 1 min MACD. Uptrend line is broken though. Not too sure where this will end up.
Strange market - a close above 550 wouldn't surprise me as much as a close below 480 would.
Strange market - a close above 550 wouldn't surprise me as much as a close below 480 would.
