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[mystikal]

[09:26:59 25/09/08] Stalion : hi everyone

[09:28:30 25/09/08] Stalion : we put a sell stop at 1.8580...1st target @ 1.8555..2nd target

@ 1.8540

[09:43:14 25/09/08] caprica1 : morning stal

[09:53:27 25/09/08] wilmart : Morng all

[10:25:54 25/09/08] Stalion : hi there cap

[10:35:15 25/09/08] Stalion : sell stop triggered

[10:42:07 25/09/08] Stalion : remember to take half profits after +20 pips...

[11:08:30 25/09/08] albashir : corect me if am wrong....its at 8588 now isn't it?

[11:41:16 25/09/08] albashir : aproching 2nd target.

[11:41:41 25/09/08] Stalion : yea

[11:43:32 25/09/08] Stalion : about to

[11:43:45 25/09/08] Stalion : helloo eugen

[11:44:07 25/09/08] eugen3000 : hello Stal

[11:44:34 25/09/08] Stalion : hope u've taken off half profits by now...? remember price

doesnt move in a straight line,so we bank profits as soon as we can..

[11:47:00 25/09/08] Stalion : price at 1.8850 now..

[11:48:47 25/09/08] Stalion : target hit!

[12:14:12 25/09/08] caprica1 : we hit 2nd target. Nice one

[13:01:02 25/09/08] Stalion : so we made 40 pips off our call today...

[13:01:55 25/09/08] Stalion : we then put a buy stop @ 1.8557, 1st target @ 1.8587

[13:05:05 25/09/08] caprica1 : A BUY STOP?

[13:08:00 25/09/08] masif1 : some critical news out at 1.30bst for the us

[13:08:51 25/09/08] caprica1 : whats the news?

[13:10:24 25/09/08] Stalion : yes

[13:11:40 25/09/08] caprica1 : kool

[13:12:25 25/09/08] Stalion : how critical is the news, masif?

[13:15:38 25/09/08] Stalion : expectations on the US is quite negative....if news comes out

lower dan expectations, we might see gbpusd shooting up..

[13:16:18 25/09/08] Stalion : if news comes out as a surprise(higher dan expectations), it

might affect the cable's rise..

[13:18:14 25/09/08] caprica1 : we still keep the buy stop though?

[13:21:36 25/09/08] Stalion : yes, we do

[13:22:00 25/09/08] caprica1 : no probs boss.

[13:22:34 25/09/08] caprica1 : it's just hit that 1st target Stal

[13:22:46 25/09/08] Stalion : havent urs been hit??

[13:22:54 25/09/08] Stalion : yes, it did

[13:25:10 25/09/08] masif1 : target hit guys



[13:25:24 25/09/08] masif1 : did we have a second?

[13:25:58 25/09/08] masif1 : 30 pips from that and 40 pips earlier

[13:26:04 25/09/08] caprica1 : I was just thinking the same thing. Only saw 1 target

[13:26:11 25/09/08] masif1 : nice nice chicken and rice

[13:26:12 25/09/08] caprica1 : happy with the pips though.

[13:27:38 25/09/08] Stalion : lol....

[13:27:49 25/09/08] Stalion : seems u like chicken and rice

[13:28:26 25/09/08] Stalion : 70 pips should be okay for today, guys....

[13:29:32 25/09/08] Stalion : u can still get back in again...

[13:29:57 25/09/08] caprica1 : I'm happy with 70 pips. Thats a nice little return on the

day.

[13:30:08 25/09/08] caprica1 : not need to be too greedy

[13:30:26 25/09/08] masif1 : i agree

[13:30:32 25/09/08] masif1 : 70 pips is lovely

[13:30:42 25/09/08] Stalion : lol...

[13:40:57 25/09/08] Stalion : did u enter again, cap?

[13:41:12 25/09/08] caprica1 : I would like the price to get down to 1.8510 to hit the

target I've got for a 123 pattern I saw this morning.

[13:41:19 25/09/08] caprica1 : No, didn't re-enter

[13:44:29 25/09/08] caprica1 : have you re-entered Stal?

[14:15:21 25/09/08] Stalion : nope...am okay...for today....not everyday u bank 70 pips in forex, man


[00:08:45 26/09/08] Stalion : We put a buy stop @ 1.8400 on the gbpusd,1st target @

1.8445,2ndtarget @ 1.8475, 3rd target @ 1.8528,40 pip stop loss..take half profits when +20 pips in profit

[mystikal]

Helloo fellow traders,
I want to wish Nigeria a Happy Birthday(October 1ST,1960) as we observe our Independence Day..One more road to cross..

[08:50:05 30/09/08] Stalion : morning everyone

[08:51:43 30/09/08] klho83 : hi stal

[08:55:23 30/09/08] caprica1 : mg

[08:55:59 30/09/08] Stalion : hope you are okay with the 87 pips we made yesterday...

[08:56:02 30/09/08] Stalion : on the USDCHF

[08:57:03 30/09/08] caprica1 : or more

[08:57:20 30/09/08] Stalion : or was it 117, cap?

[08:57:41 30/09/08] caprica1 : yep

[08:58:17 30/09/08] caprica1 : half profits at +20, then stuck a 20 point Trailing Stop on
at the 3rd target.
[08:58:28 30/09/08] klho83 : m happy with any + pips

[08:59:41 30/09/08] Stalion : lol

[09:05:21 30/09/08] caprica1 : which paris are you looking at today Stal?

[09:22:38 30/09/08] Stalion : both USDCHF and GBPUSD,cap...

[09:23:18 30/09/08] caprica1 : excellent

[09:23:57 30/09/08] Stalion : wasnt really too sure about cable yesterday,so I let it pass and concetrated on dollar swiss...

[09:27:04 30/09/08] caprica1 : prob wise. cable and the EU have been very choppy the last few weeks.

[09:29:09 30/09/08] enolase : hello Stallion

[09:37:37 30/09/08] Stalion : any news coming out on gbp?

[09:41:34 30/09/08] Stalion : we put a SELL STOP on USDCHF @ 1.0960...1st target @ 1.0935, 2nd target @ 1.0906, 3rd target @ 1.0874

[09:58:01 30/09/08] caprica1 : 40 pip stop?
.
[10:23:04 30/09/08] Stalion : yes cap...40 pip stop...

[10:26:36 30/09/08] Stalion : price is still dilly dallying around for now..

[10:29:30 30/09/08] caprica1 : ok no probs. Pending order in and waiting.


[12:16:43 30/09/08] Stalion :Buy Stop on USDCHF @ 1.1025, 1ST TARGET @ 1.1065... 40 pips stop loss away...Take half profits after +20 pips.

[12:23:01 30/09/08] klho83 : Hi Stal typo error for new alert? USDCHF?

[12:23:43 30/09/08] Stalion : nope.....

[12:24:07 30/09/08] klho83 : usdjpy?
[
12:24:16 30/09/08] Stalion : its just a hedge,K...the sell stop is still in place..

[12:24:56 30/09/08] klho83 : Thanks

[12:25:02 30/09/08] Stalion : the buy stop allows us to take any bullish opportunities that comes along if price continually goes up

[12:25:42 30/09/08] Stalion : remember a trader learns to look at both sides of the coin...always think 2 steps ahead..

[12:28:42 30/09/08] caprica1 : did you mean USDCHF?

[12:29:25 30/09/08] klho83 : Sta l please confirm.

[12:29:45 30/09/08] Stalion : if I wrote USJPY, then it is a typo...am sorry for dat...but the buy stop on USDCHF is not a typo, guys..

[12:31:27 30/09/08] Stalion : consider it a hedge trade....

[12:32:29 30/09/08] Stalion : if price goes bearish like we anticipated, our sell stop triggers down..if it goes bullish, our buy stop triggers up..

[12:34:00 30/09/08] caprica1 : kool. Thought it was a typo because of the price you quoted

[12:58:05 30/09/08] enolase : please was that signal for USDCHF? the BuySTOp at 1.1025?

[13:04:55 30/09/08] takbal : went long of GU...

[13:13:19 30/09/08] takbal : banks and companies are playing with trillions of virtual money. If the virtual money disappears, they need real one, and fast...

[13:16:43 30/09/08] enolase : anyway, President George Bush is scheduled tospeak on the Bailout plan in

[13:17:08 30/09/08] enolase : 30 mins

[13:17:49 30/09/08] enolase : i think this will have a lot of implications for the USD

[13:18:50 30/09/08] enolase : what says the house?

[13:34:23 30/09/08] enolase : considering that the issues bordering on the bail out plan in the US has had a heavy hand on the USD pairs and the JPY crosses, what will be the impact of George Bush's speech coming up in 15 minutes on these pairs?

[13:36:47 30/09/08] enolase : the USd has started to gain broadly

[13:37:55 30/09/08] caprica1 : anyone else had the long USDCHF triggered?

[13:38:30 30/09/08] enolase : yes i had ot

[13:38:41 30/09/08] enolase : i am up 14 pips right now

[13:39:26 30/09/08] enolase : i think George Bush's speech may be an impetus to boost the USD

[13:40:39 30/09/08] enolase : i'll ride the USD

[13:41:31 30/09/08] klho83 : 1st 20pips

[13:41:52 30/09/08] caprica1 : the USD has been making little gains over the last few hours. Just hope the price rise hasn't al;ready been factored in

[13:42:09 30/09/08] enolase : i hope so too

[13:42:31 30/09/08] enolase : at times the news is leaked out and before u know it, the move has already occured

[13:45:51 30/09/08] takbal : whoa thats what I call a double bottom on GU...

[13:47:18 30/09/08] enolase : on which chart?

[13:48:01 30/09/08] enolase : i think it is better to wait a little before concluding that a double bottom has indeed formed

[13:49:39 30/09/08] enolase : 1st target hit on USDCHF

[13:49:52 30/09/08] enolase : can this continue? seeing what is happening on the EURUSD, it is possible

[14:47:21 30/09/08] caprica1 : USDCHF is starting to make it's way down to our sell stop price now as well.

[14:53:50 30/09/08] caprica1 : correction, no its not!

[14:54:01 30/09/08] caprica1 : lol

[15:08:53 30/09/08] Stalion : lol....1st target hit on USDCHF?

[15:39:37 30/09/08] caprica1 : good call again today Stal.

[15:40:20 30/09/08] caprica1 : I would have put a Trailing Stop on the trade if I'd been able to, but I'm at work so I dont have the same control over my trades. Just had to leave it to hit target.

[15:40:35 30/09/08] caprica1 : still a successful trade though.

[17:24:41 30/09/08] enolase : well, somehow the trade went massively in ur direction. So that's two wonderful trades this week.

Originally Posted by onwukarisa

Hello Mystikal,



Please take a look at the attached image and see if it is an example of a 1-2-3 top formation.
you said 2 is an internediate low. please whats an intermediate low? also when do you know that an uptrend or downtrend has come to an end?

Hi Onwukarisa,
Trust you to really ask those incisive questions,man...
Yes, the attached image is an example of a 1-203 top, which is a reversal signal foretelling a bearish move to the downside..
An intermediate low can be taken in many context...timeframes...support and resistance...even length of candlesticks...so in this context,2 was a minor low, while the low of the bearish hammer before the doji, at the last support ,could stand as an intermediate low.
We dont KNOW for sure when a downtrend or uptrend have come to an end...its all a game of probabilities, in which you go for a high probability setup..Heck, if everyone knows when an uptrend or downtrend has definately come to an end, picking of tops and bottoms would be very easy and less risky.
Traders tend to use a ''confluence of events'' to determine whether a trend is over or not...like the 1 on your chart...it is termed a ''shooting star'' candle, which portends a bearish move turning its strings down south.wow..
Add that with MACD DIVERGENCE, and a convincing trendline break, it should be telling us a story..



QUOTE=gmbert19]Hello Stallion


I wanted to ask you a few questions..

I recently began my endevaour into currency trading.

I am eager to learn the business and need some serious guidance.

Any recommendations books, mentorship

thanks for your time.Please advise
[/quote]


Hi gmbert,
Thanks for your mail...Well, the answer are on those charts, mon ami..You might also consider going through Technical Analysis of the Financial Markets'' by J J Murphy, which deals with classique trading patterns, The Candlestick Course by Steve Nison. that would be nice for a start. Also go through this thread..whether reviews, conversations, alerts,etc..there's always something educative you can pick out, especially when reading through market conditions and reactions in live practical trading.


[10:42:27] Stalion : We put a SELL STOP on USDCHF @ 1.1145,1st target @ 1.1087,2nd target @ 1.1045, 3rd target @ 1.1005..40 pip stops...take half profits at +20 pips while shifting sl to entry...leaving the remaining lots to ride..


stallion@forexgreenland.com

[mystikal]

Post #1 Serg Cherkashin wrote on Sep 29, 2008 at 9:16 AM
Hi Sylvester!
I want to ask you.
I have obligations of Japanese companies. They have very small revenue (percent).
What do I do for increase of revenue from these obligations?
How does revenue increase from these obligations?

Helloo there, Serg,
Sorry but it would be much clarifying if you could expantiate on your question... As in,

what kind of ''obligations"? Bonds..? Debentures...?Hybrid...? Can they be internationally traded in the global markets or just restricted to Japan? Are they any offshore laws in Japan regulating the modus operandi of the revenue generation in companies?
Just trying to put international law and trade in perspective since you are seem like a slav dealing in Japanese business territory...

Konf;73665 At me strategy simple, I go on a trend, I put stop loss. The trend during

a week, day and 3hour should coincide.

Cool, Konf, the trend is your friend. And if the trend on those timeframes doesnt coincide,what do you do in that situation? you stay off?


[10:03:39 03/10/08] caprica1 : I believe it's NFP today as well, so things are a little

quiet at the moment.

[10:07:06 03/10/08] fxjedi : look like lull before storm,i think

[10:08:21 03/10/08] enolase : whatever the storm is, i prefer to watch it from the sidelines

[10:08:40 03/10/08] enolase : we could possibly see some funny retracements whatever the

initial price action

[10:09:28 03/10/08] caprica1 : I dont like trading at all on NFP day, so it might be the

start of a long weekend for me

[10:11:26 03/10/08] Stalion : seems almost every trader's had the creeps during NFP

day...sometimes sounds like Black Friday with all its volatility and whipsaws...

[10:30:22 03/10/08] fxjedi : whatever happen, I believe the market is going down...seem

inevidble...the market around the world are horrible. ///TP DJIA 9611 and thats being

conservitive...

[10:31:32 03/10/08] albashir : gm all

[10:34:51 03/10/08] Stalion : helloo there albashir..

[10:37:44 03/10/08] fxjedi : Trading takes time, patience and effort. Trading is simple but

not easy. You must learn how to identify quality trades and become disciplined to take only

those quality trades. Until next time, may most ofl your trades be green and your losses

small.

[10:43:06 03/10/08] albashir : hey stal mornin 2 u...

[10:46:05 03/10/08] masif1 : morning all

[10:46:14 03/10/08] masif1 : by the way stal

[10:46:35 03/10/08] masif1 : we had two stop outs yesterday and one target hit

[10:46:50 03/10/08] Stalion : morning al...morning masif....welcome to White Friday...

[10:48:54 03/10/08] Stalion : depends on how you you look at it,al....and your reaction to

the report..

[10:49:03 03/10/08] albashir : salaam masif, Jumah Mubarak..

[10:50:52 03/10/08] masif1 : jumah mubarak brother

[10:52:49 03/10/08] albashir : well long b4 i came to know of ur lovely but unavoidable

tread/blog...... i use to trade NFP using hedging mtd....mostly profitable until i cld not

put a SL and PT due to network.....and funny me..... i got drained out.

[10:53:52 03/10/08] albashir : now I'm saving some of my family upkeep allowance to get back

on track...it used to be the only news I trade.

[10:59:13 03/10/08] Stalion : hmmmmm...

[11:05:13 03/10/08] Stalion : sell stop on gbpusd @ 1.7660, 1st target @ 1.7603...40 pip

stop away..

[11:09:25 03/10/08] albashir : ok..copy dat..

[11:10:22 03/10/08] Stalion : take half profits after +20 pips ...

[11:22:05 03/10/08] masif1 : stal are the short on usd/chf still valid - or can i delete the

orders

[11:22:19 03/10/08] albashir : did anyone get triggered?

[11:23:57 03/10/08] albashir : yea,....mine is still pending lyk masif's 2....do we keep it

or delete it?

[12:30:21 03/10/08] caprica1 : looks like its triggered now

[12:32:47 03/10/08] masif1 : its triggered

[12:40:27 03/10/08] albashir : its triggerd but fluctuatin.....

[12:42:01 03/10/08] caprica1 : it's triggered now Al. It's best to just leave it alone, and

not stare at the screen reacting to every little movement.

[12:47:19 03/10/08] caprica1 : it'll drive you crazy man. Just have a quick look every 15M

thas enough.

[13:22:24 03/10/08] takbal : NFP is out in 7 minutes... if you stay in, you ar practically

gambling



[13:34:27 03/10/08] Stalion : helloo guys..

[13:38:45 03/10/08] Stalion : unemployment rate was the same...non farm payroll was -159k,

which was lower dan expectations...the actual was lower dan the forecast, which was

unfavourable to the US...

[13:40:41 03/10/08] Stalion : price made a low of 1.7629, which was 31 pips...taking off

half profits at +20 pips and shifting sl to entry would have guaranteed some pippy in the

kitty...

[13:59:29 03/10/08] albashir : it hit d SL....but available to reenter.

[14:00:13 03/10/08] albashir : was unavailable to reenter

[14:20:23 03/10/08] Stalion : you would have made more than 100 pips if you had reentered

with a 25 pip trailing stop loss, albashir..

[14:33:10 03/10/08] caprica1 : Dont worry bout it I didn't even trade. I stuck to my guns

and didn't trade the NFP day.

[14:44:01 03/10/08] Stalion : didnt you make any money from that call, albashir?

[14:45:55 03/10/08] albashir : none bro....d 40pip SL was hit while away and cld nt

reenter....

[14:46:58 03/10/08] albashir : can't even place any order wt dis situation.......wld hold on

a while but wld be on demo for the tym

[14:47:19 03/10/08] Stalion : and you didnt take off some profits while it was 30 pips in

your favour?

[14:48:52 03/10/08] klho83 : Hi Stal

[14:50:25 03/10/08] albashir : wat u say...

[14:51:52 03/10/08] caprica1 : its moved back up towards the entry point again. Why not put

a limit order in for the .7660

[14:54:14 03/10/08] Stalion : helloo there, K

[14:54:21 03/10/08] masif1 : damn what happened went to pray jumma come back and we goit

stopped out

[14:56:03 03/10/08] Stalion : you didnt follow the risk mgt rules, masif...

[14:56:36 03/10/08] masif1 : ok

[14:58:04 03/10/08] Stalion : you have to understand that the market is like life

itself...ever flowing..ever moving...not waiting for anyone...if you see your opportunity to

make money, you LOCK IN

[14:58:29 03/10/08] Stalion : profits...because price would always continue moving..whether

we are there or not..

[14:59:55 03/10/08] Stalion : in this time of volatility in the markets, traders dont find

it prudent to set and forget...coz anything can happen in a second...dats why trading

discipline ,dedication and patience are necessary if you want to succeed..

[15:00:02 03/10/08] masif1 : ok

[15:01:32 03/10/08] Stalion : the potential to make 105 pips was presented on

reentry....based on our trade alert...I made 84 pips before my trailing stop was hit...

[15:01:47 03/10/08] masif1 : was away from the desk

[15:04:32 03/10/08] caprica1 : would you recommend re-entering again now Stal? MACD is

showing a positive divergance though.

[15:14:32 03/10/08] masif1 : hi guys

[15:14:57 03/10/08] masif1 : culd have made money on both short and long today

[15:15:05 03/10/08] caprica1 : no I didn't enter it in time Stal

[15:15:26 03/10/08] Stalion : not yet,cap....

[15:19:34 03/10/08] caprica1 : kool

[15:25:05 03/10/08] Stalion : price going up again...

[15:26:56 03/10/08] Stalion : if you had reentered back at our original entry call, it would

have been an uncomfortable ride by now..

[15:27:13 03/10/08] caprica1 : gud job i didn't then! lol

[15:28:16 03/10/08] masif1 : lol

[15:28:40 03/10/08] albashir : ok stal...aaf a long position on gu....wat do u say?

[15:35:27 03/10/08] albashir : stal ....

[15:42:45 03/10/08] masif1 : somethings boosted GBP!

[15:43:14 03/10/08] masif1 : its shooting up big time

[15:43:46 03/10/08] masif1 : i feel like singing the national anthem

[16:11:03 03/10/08] caprica1 : your not all alone mate. I'm here for a little bit now! lol

[16:17:14 03/10/08] masif1 : lol

[16:17:30 03/10/08] masif1 : shame i'm not trading

[16:20:52 03/10/08] caprica1 : lol. How goes it dude?

[16:26:05 03/10/08] albashir : Alhadu llah....came out with 120pips longing GU

[mystikal]

[10:25:11] Stalion : We put a BUY STOP ON GBPUSD @ 1.7605...1st target @ 1.7655.. 2nd target @ 1.7685, 3rd target @ 1.7715
40 pip stop loss..

[mystikal]

[08:56:29 06/10/08] Stalion : helloo everyone..

[09:00:20 06/10/08] Stalion : not much news with the major pairs today except CAD and Au..

[09:03:17 06/10/08] Stalion : hope you'all had a wonderful weekend...

[09:04:12 06/10/08] klho83 : Hope have a good start today
price is about breaking new lows ,

[09:24:22 06/10/08] klho83 : breaking new lows?

[09:25:38 06/10/08] Stalion : gbpusd

[10:24:57 06/10/08] masif1 : morning all

[10:25:11 06/10/08] Stalion : We put a BUY STOP ON GBPUSD @ 1.7605...1st target @ 1.7655..40

pip sto loss..

[10:26:40 06/10/08] Stalion : hi masif

[10:28:12 06/10/08] Stalion : 2nd target @ 1.7685, 3rd target @ 1.7715

[11:08:38 06/10/08] Stalion : range trading monday...due to lack of high impact news..

[11:38:34 06/10/08] Stalion : buy stop triggered..

[12:22:07 06/10/08] fxjedi : Long term trends rarely reverse quickly & markets often

over-shoot & tease convictions with counter moves over a period of time prior to making any

sustained turn.. Reacting to market warning signs with good risk adjusted analytics is an

integral part of all long & medium term strategic play.. Since all of us are only transient

player in a never ending game where major tops & bottoms are only evident in hindsight, one

should be content with placing the right bets on part of a move instead of kicking our

behind over all those "lost pips" looking at the charts afterward..

[12:30:51 06/10/08] fxjedi : but mine havnt trigered,Stal,since you said to put 3 pip spread

on top of bid prices,should i still leave pending order?

[12:34:40 06/10/08] Stalion : no probs...jedi...forgot to add the 3 pip spreads on

cable...so the pending buy still stands,ok...

[12:36:23 06/10/08] fxjedi : roger dat

[12:42:48 06/10/08] masif1 : dont worry fxjedi - its a good thing u havent triggered, as i

think its about to hit our s/

[12:53:44 06/10/08] takbal : hi guys

[12:53:49 06/10/08] fxjedi : seems stal is right about market on range trading,not much

movement from wat i can see

[12:55:56 06/10/08] fxjedi : hey takbal

[13:01:55 06/10/08] fxjedi : so my buy stop is waiting to triger at 17608

[13:03:38 06/10/08] fxjedi : triger is hit

[13:04:41 06/10/08] Stalion : nice one,jedi.....for those dat got stopped,pls reenter

[13:12:55 06/10/08] Stalion : remember to take off half profits when +20 pips ahead as price

is going ahead in our favour...then adjust sl to entry

[13:16:34 06/10/08] fxjedi : wow,look at gu fly!!!

[13:18:05 06/10/08] Stalion : put a 25 pip trailing stop on it now...

[13:18:47 06/10/08] fxjedi : any 3rd target,Stal?

[13:19:32 06/10/08] fxjedi : almost 10 pips to 2nd taget 17655

[13:20:26 06/10/08] Stalion : [10:28:12 06/10/08] Stalion : 2nd target @ 1.7685, 3rd target @ 1.7715



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[14:49:22 06/10/08] masif1 : damn damn damn damn damn

[14:49:27 06/10/08] masif1 : got stopped out

[14:49:49 06/10/08] masif1 : didnt get a chance to out the triling sl in

[14:53:22 06/10/08] masif1 : put the trailing sl

[15:18:33 06/10/08] masif1 : whats happened to gbp

[15:18:45 06/10/08] masif1 : going down down down

[16:10:09 06/10/08] klho83 : Bad Start. Stopped out!

Originally posted by batangas:
[qb] Wow, how far down can this British lettuce go (now at 1.7370)? [/qb]

Helloo batangas,

Lets take a good look at this chart and generate some insights here...
1.7839-1.7513=0.0326
0.3*0.0326=0.00978
1.7513+0.00978=1.7610 (30% sell window)
1

That is the region where price turned around and went further bearish on the downside. You

take the high price of the current move and subtract it from the low of the current move.

The low is the price made just before the market began to trade higher against the

prevailing downtrend.
As soon as the market establishes an intermediate low and starts to trade higher from this

low, subtract the high (the high price at the begining of the prevailing trend prior to this

intermediate low) from the low.This will equal the total price range of the original

move...0.0326
Multiplying the range by 30% and adding it to the low foretells the begining of the 30% sell

window.
But I could hear some of you say''Hey, didnt he talk about price having a high probability

of a turnaround at the 60% window? Why 30%''
''Using 60%retracement for buy and sell windows is an excellent technique for most

markets.However when the trend in a market is extremely strong, the market will begin to

make small and quck corrections that usually last three to five bars in intraday trading.
The stronger the market, the shorter the correction time period. These strongly trending

markets will normally see the market retrace to around 30% of the original move. This level

still offers some very good reversal signals.'' John Crane - Advanced Swing Trading..
So my anticipation of price reaching the 60% sell window was wrong due to the strongly

trending move on the GBPUSD.It got round the 30% window and thats more it could chew before

going back down.



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By our extrapolation, we could see price on the GBPUSD reaching a low of 1.7264..
So for a good entry, we could either sell now or wait for price to finish its upward retracement and break the support in line with the prevailing downtrend to our next low or support at 1.7264.
Since our analysis was taken from the hourly chart(1 hr), it might take sometime before we reach our target.

[mystikal]

[09:55:34 07/10/08] didi : hello everyone

[10:51:28 07/10/08] masif1 : hello

[11:03:41 07/10/08] Stalion : helloo everyone..

[11:06:18 07/10/08] masif1 : hi stal

[11:06:34 07/10/08] masif1 : how u doing bro?

[11:57:09 07/10/08] fxjedi : hello masif

[12:05:27 07/10/08] caprica1 : you there dude?

[12:51:46 07/10/08] fxjedi : Stal, we missed yesterday gu drop and it went close to 200

pips
[12:51:47 07/10/08] caprica1 : how is everyone?
[12:53:14 07/10/08] Stalion : cool
[12:56:10 07/10/08] Stalion : i saw that,jedi....went short at the 2nd support level

@1.7455...
[12:57:15 07/10/08] Stalion : price on the gbp is going up to 1.7515 before turning around

[13:50:00 07/10/08] Stalion : we put a sell stop on gbpusd @ 1.7483...1st target @

1.7455...2nd target @ 1.7425...

[13:50:43 07/10/08] fxjedi : sl?

[13:52:37 07/10/08] Stalion : 1.7545 as stop loss

[13:53:35 07/10/08] fxjedi : okay

[14:14:28 07/10/08] Stalion : price on cable has breached the 60% sell window...so we should

be seeing a turnaround in the downside..

[14:15:34 07/10/08] Stalion : if the opposite occurs, as in ,a sustained uptrend, that means

a new trend forming..

[14:16:36 07/10/08] Stalion : the one we are watching now on the 15th minute, is a

retracement...

[14:18:20 07/10/08] Stalion : if it continues going up, a new trend...an uptrend,..is

formed..

[14:20:41 07/10/08] fxjedi : if i get you right, stal, do you mean we are retracing?

[14:25:55 07/10/08] Stalion : yes, jedi....if you look at price now, we are @

1.7546...technically, we are around the level where the retracement is over,with an

intermediate high, then resuming its prevailing downtrend

[14:30:03 07/10/08] Stalion : but if the uptrend is sustained, and breaks the next

resistance high

[14:32:05 07/10/08] Stalion : we see opportunity for a counter trend

[14:46:41 07/10/08] Stalion : whats the name of the spike up there,cap...the high...

[14:51:48 07/10/08] klho83 : Hi Stal , the trade signal still valid?

[14:55:32 07/10/08] Stalion : yes it is , K...do you have an answer to our question,K?

[14:58:38 07/10/08] caprica1 : sorry Stal got logged out again.

[15:03:15 07/10/08] Stalion : we could adjust our sell stop upward to 1.7565...1st target @

1.7530...2nd target @ 1.7440....

[15:04:08 07/10/08] Stalion : no probs....so whats d name of the candlestick high on the

gbpusd 15min chart



[15:05:13 07/10/08] caprica1 : shooting Star?

[15:07:29 07/10/08] caprica1 : or an inverted hammer

[15:09:12 07/10/08] Stalion : shooting star

[15:13:57 07/10/08] caprica1 : I was right first time! lol

[15:14:10 07/10/08] caprica1 : that is a reversal bar as well?

[15:20:26 07/10/08] fxjedi : but stal , what if the trend continue going up?

[15:22:10 07/10/08] klho83 : now triple tops

[15:22:54 07/10/08] Stalion : cool, K

[15:23:59 07/10/08] Stalion : but remember the current high has broken and pierced through

the two previous high region

[15:24:52 07/10/08] caprica1 : still got yesterdays high to break through to confirm an up

trend continuation for me

[15:25:11 07/10/08] klho83 : Is dat going to to breakout? Stal

[15:28:09 07/10/08] caprica1 : a triple touch of a price level would class it as resistance.

[15:28:28 07/10/08] Stalion : What is MACD saying on the 1hr and 15 min charts?

[15:29:55 07/10/08] caprica1 : GU has lost some of its momentum from the up move earlier on.

[15:31:03 07/10/08] klho83 : 1H MACD has crossed zero line in +ve zone

[15:31:22 07/10/08] fxjedi : do you mean divergence, stallion?

[15:32:00 07/10/08] klho83 : +ve divergence

[15:33:49 07/10/08] Stalion : yes, on the 1 hr chart..

[15:35:47 07/10/08] klho83 : On 15mins it looks a bit tired

[15:36:23 07/10/08] Stalion : using a demand(resistance trendline) from the current top of

price and a line on the top of MACD, we could see bearish negative dgence to price

[15:38:53 07/10/08] klho83 : On 15mins chart?

[15:39:11 07/10/08] Stalion : remember, guys...the 15min tends to act faster than the

hourly...so I guess a slight downward movement might take place before 1hr divergence kicks

in on thee upside..

[15:45:57 07/10/08] Stalion : can we see gu dropping it like its hot??presently @ 1.7564

[15:53:58 07/10/08] fxjedi : it going back up

[16:00:22 07/10/08] fxjedi : it is true theres is so much money in the system but it looks

like bankers are keeping it under their own matteress !!! this is strange. They borrow money

from the central banks, and put it back with them ...That way they are sure not to lose too

much !!!!

[16:11:27 07/10/08] fxjedi : i reentered,stal,

[19:10:47 07/10/08] albashir : been away all day...did u guys haf a trade call today?

[19:58:40 07/10/08] Stalion : so we made 125 pips, less 40 pips...which is a net profit of

*5 minilot,$850 standard lot on gbpusd..