forexgreenland

[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..

forexgreenland

[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



ImageShack - Hosting :: gbpubb6.gif

[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!


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.



ImageShack - Hosting :: gbpusou3.gif

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.

forexgreenland

hmmmm........

forexgreenland

[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..

forexgreenland

[21:50:35 07/10/08] forexplay : Hello Is anyone there
[08:54:06 08/10/08] masif1 : hello
[08:55:01 08/10/08] caprica1 : morning everyone
[10:19:03 08/10/08] Stalion : price made a triple bottom on our 60% buy window and SPOOF
[10:19:35 08/10/08] Stalion : IT GOES...
[10:23:13 08/10/08] klho83 : Hi Stal!
[10:36:51 08/10/08] Stalion : helloo there K
[10:37:23 08/10/08] caprica1 : hi Stal
[10:37:34 08/10/08] Stalion : what are we having now on the GBPUSD 15min chart? A
retracement or a trend?
[10:38:37 08/10/08] caprica1 : a retracement
[10:39:51 08/10/08] Stalion : everywhere so silent....
[10:40:20 08/10/08] Stalion : K?
[10:40:44 08/10/08] Stalion : remember to tell us ur reasons, guys?
[10:42:01 08/10/08] Stalion : c'mmon...K...you can do it...talk to papi
[10:42:58 08/10/08] klho83 : GU weak
[10:43:24 08/10/08] caprica1 : it's still contained with the previous swing high and swing
low
[10:46:05 08/10/08] Stalion : yea, K....but is it a trend or a retracement?
[10:46:54 08/10/08] klho83 : It treanding down
[10:47:19 08/10/08] klho83 : Trend Sir!
[10:47:23 08/10/08] caprica1 : the overall trend o the GU is down
[10:49:01 08/10/08] klho83 : If look at $H or daily chart GU is trending down
[10:49:22 08/10/08] klho83 : 4H od daily
[10:50:02 08/10/08] Stalion : Both are right....it was a retracement at that time cap was
watching ...though wanted to ask him at what percent of the ''containment'' should the
previous swing high differ from the previous swing low
[10:51:37 08/10/08] Stalion : it had to breach a percentage of the containment a la
caprica...in order to tell us there's a change of retracement to trend
[10:52:33 08/10/08] Stalion : or in some cases, trend to retracement
[10:56:41 08/10/08] klho83 : Hi Stal, Can U explain " Containment"?
[10:58:14 08/10/08] caprica1 : think it he means it that price was contained within the
previous swing high and swing low K
[10:58:34 08/10/08] caprica1 : Soit would have had to breach the swing low to confirm the
down trend continuation
[11:00:08 08/10/08] Stalion : voila
[11:00:33 08/10/08] caprica1 : see I have learnt something! lol
[11:01:45 08/10/08] Stalion : hope you understand,K
[11:04:21 08/10/08] caprica1 : I sent you a PM about the buy and sell windows Stal. You get
it?
[11:04:41 08/10/08] masif1 : i dont understand
[11:05:16 08/10/08] masif1 : the british government is to bailout the UK banks with £50
Billion
[11:05:26 08/10/08] masif1 : but cable is still dropping
[11:05:29 08/10/08] Stalion : remember most times, we look for a breach of the pyschological
number/grid below or above the 60% retracement level to confirm establishment of a new
trend...in this case, a downtrend
[11:59:22 08/10/08] fxjedi : ECB Unlikely To Join Coordinated Cuton't count on a
coordinated rate cut, says Calyon. "Doubts have to remain over the ECB's commitment to such
a plan," the bank says, suggesting that monetary policy, like the various money market and
banking sector policy changes, "will remain local in origin and scope."
[12:43:46 08/10/08] fxjedi :
Fed orders emergency rate cut, other banks follow - Yahoo! News
2BCs0NUE
[12:44:07 08/10/08] fxjedi : WASHINGTON - The Federal Reserve, acting in coordination with
other global central banking authorities, cut a key U.S. interest rate by half a percentage
point Wednesday to steady a teetering economy. ADVERTISEMENT The Fed reduced its key rate
from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial
crisis, the Bank of England cut its rate by half a point to 4.5 percent, while the European
Central Bank sliced its rate to 3.75 percent. Other central banks also taking part include
the banks of Canada, Sweden, and Switzerland.
[12:45:37 08/10/08] fxjedi : if everyone is cutting rates,i wudnt think there wud be any
reaction in the markets,stal
[14:38:13 08/10/08] Stalion : Sell Stop on the gbpusd @ 1.7390, 1st target @ 1.7355, 2nd
target @ 1.7305, 40 pip sl

[14:57:21 08/10/08] Stalion : 10 pips to go
[15:02:20 08/10/08] Stalion : breaching the two grids/pyschological number levels
below,signifies price retracement turning to a new downtrend..
[15:06:01 08/10/08] Stalion : many traders also wait for the major low/support to be
breached before confirming a new downtrend on the bearish side..
[15:10:09 08/10/08] Stalion : take half profits now, if you havent done so already
[15:10:25 08/10/08] fxjedi : hi
[15:13:51 08/10/08] Stalion : helloo argunes,jedi
[15:14:57 08/10/08] argunes : I've jsut entered and I see its amazing so many experienced
traders sharing information
[15:15:05 08/10/08] Stalion : thanx, man....How is Instabul?
[15:15:34 08/10/08] argunes : Rainy nowadays.
[15:16:18 08/10/08] Stalion : same here in Lagos...
[15:16:27 08/10/08] argunes : May I ask what time is it on your location?
[15:17:06 08/10/08] Stalion : Its 3.16pm here
[15:17:10 08/10/08] Stalion : urs?
[15:17:51 08/10/08] argunes : 17.17 here.
[15:18:53 08/10/08] Stalion : 2hr ahead
[15:20:02 08/10/08] argunes : Yes. I need to leave. Good trading everyone.
[15:28:20 08/10/08] Stalion : thanks argunes
[15:28:57 08/10/08] Stalion : 1st target hit

[15:36:47 08/10/08] Stalion : whats DKK,jedi?
[15:37:31 08/10/08] fxjedi : BOE especially, but also ECB have plenty of room to cut rates
further. Unfortunately the stock markets will need to drop further to spur them into action.
Paulson urged this move because his wife has urging him to stay home this weekend and once
take a weekend free without a rescue operation.
[15:38:19 08/10/08] fxjedi : am not realy sure,am jus sharing forex news,stal
[15:48:35 08/10/08] fxjedi : looks gu is going down again to next target,stal
[16:00:53 08/10/08] fxjedi : Japanese Nobel Physics laureate Toshihide Maskawa, an introvert
devoted to thinking about the universe, has no passport to go to Stockholm to accept the
prize, his wife revealed on
Wednesday...Shy Japanese Nobel laureate has no passport: wife - Yahoo! News
Ancrtabipo7uzkpAj7MgGVxxFb8C
[16:08:50 08/10/08] Stalion : please put a 15 to 25 pip trailing stop on it
[16:11:09 08/10/08] fxjedi : roger dat
[16:16:31 08/10/08] fxjedi : 2nd target hit

[16:21:10 08/10/08] Stalion : lol...dats nice....a trailing stop will ensure you follow
price to its lowest before cutting you out..
[16:27:49 08/10/08] fxjedi : am thru for d day, stal,
[16:28:00 08/10/08] fxjedi : thanks a lot

[

forexgreenland

[08:45:22 09/10/08] klho83 : hi stal and cap

[09:18:32 09/10/08] fxjedi : stal,i made almost 100 pips yesterday from gu call,if not my

trailing stop got stopped out,lol,

[09:32:38 09/10/08] Stalion : bUY gbpusd @ 1.7328, 1st target @ 1.7377...2nd target @ 1.7435

[09:42:05 09/10/08] argunes : Hi everyone

[09:42:07 09/10/08] Stalion : stop loss @ 1.7250

[09:42:27 09/10/08] Stalion : hi argunes

[09:46:05 09/10/08] fxjedi : helloo

[09:48:29 09/10/08] Stalion : for those dat didnt get the alert, just scroll up and you'll

see it..

[09:49:04 09/10/08] argunes : Stalion, I see a resistance GBP/USD at 1.7340, what do you

think about it?
[09:49:43 09/10/08] fxjedi : UK Rate Cuts Come At A Cost -Seymour Pierce: The impact of the

synchronized interest rate cuts Wednesday should not be judged too quickly, says Amit Thakar

at Seymour Pierce. "It will take time, irrespective of the asset markets' instant reaction.

Whilst we do not anticipate another coordinated move, we believe the UK, US and the European

monetary authorities will ease by another 50bps before the end of the year," he says. Adds

however, there will be costs associated with such moves, particularly in the UK. "The UK

public finances will move from a perilous state to almost unsustainable state at

structurally 5% of GDP," says Thakar.

[09:53:20 09/10/08] Stalion : a lot, argunes...

[09:53:56 09/10/08] Stalion : b4 I say anything....what does wilmart and cap think about it?

[09:54:08 09/10/08] Stalion : and jedi..

[09:57:37 09/10/08] fxjedi : umm,maybe resistance can be broken above that 17340 level?

[09:59:43 09/10/08] argunes : i see next resistance levels are 1.7400 and 1.7460 GBP/USD

[10:00:05 09/10/08] Stalion : yes, jedi...there's a good possibility price might break dat

resistance..

[10:00:29 09/10/08] wilmart : Stal abt wat?

[10:00:43 09/10/08] argunes : and it looks like 1.7430 is vulnerable GBP/USD

[10:01:18 09/10/08] Stalion : if you check your 15min chart, argunes, you could also notice

a 1-2-3 bottom, in which the 2 level has already been breached..and MACD positive divergence

to price

[10:02:09 09/10/08] argunes : Thanks Stalion. I see.

[10:02:11 09/10/08] Stalion : also a trendline break to confirm bullish move....

[10:02:44 09/10/08] Stalion : if there are no unexepected or high impact news, price would

follow technical analysis...

[10:04:12 09/10/08] fxjedi : yes, stal,its there all right

[10:06:57 09/10/08] fxjedi : but dont you think the stop at 17250 is kind of high?

[10:09:26 09/10/08] masif1 : just got picjed up the alert

[10:09:40 09/10/08] masif1 : placed the order and its just triggered

[10:10:43 09/10/08] Stalion : yes it is,jedi....from our entry point, dats like a 78 pip

risk...

[10:10:47 09/10/08] Stalion : hi masif

[10:10:58 09/10/08] masif1 : hi stal

[10:11:40 09/10/08] Stalion : going for a total of 107 pip reward

[10:11:52 09/10/08] Stalion : up to our 2nd target

[10:13:39 09/10/08] Stalion : the reason was dat we get stopped out more when we stick to a

rigid 40 pip stop loss...but by taking cognizance of support and resistance levels, we can

use dat as our exit points or stop loss levels...though with much wider risk

[10:17:38 09/10/08] Stalion : did anyone see the 1-2-3 bottom?

[10:18:53 09/10/08] caprica1 : back. Just had to take a shower

[10:18:56 09/10/08] wilmart : yeah

[10:19:09 09/10/08] argunes : I see it.

[10:20:22 09/10/08] fxjedi : me too,stal,but isnt therr a posibility gu might go down

instead of up?

[10:21:32 09/10/08] caprica1 : you know I saw the 123. I couldn't find them at first, but

all I can see now are 123's lol

[10:24:05 09/10/08] masif1 : 123!!!!

[10:24:07 09/10/08] masif1 : lol

[10:24:26 09/10/08] Stalion : might go up or down, jedi...nothing is 100% in this

business...we follow our trading plan

[10:24:46 09/10/08] fxjedi : abc's!!

[10:30:02 09/10/08] Stalion : we wud've gotten stopped out by dat spike down if we used a 40

pip sl...since price went to a low of 1.7289...

[10:30:14 09/10/08] albashir : peace be unto u all.....

[10:31:26 09/10/08] Stalion : but by putting our sl below low or support of the previous

grid/pychological number, we avoided being stopped out...so guys, wat wud you prefer?

[10:32:14 09/10/08] Stalion : a 40 pip sl and getting stopped out more often but reaching ur

targets...or a wider sl based on support and resistance, with wider risk...if stopped out..

[10:32:21 09/10/08] Stalion : hi albashir..

[10:32:33 09/10/08] wilmart : Cool all,its valid

[10:32:34 09/10/08] caprica1 : I think the wider stop, based on the current market

conditions

[10:33:52 09/10/08] wilmart : Get prepared to make some pips

[10:35:24 09/10/08] fxjedi : but whatabout equity,stal,what if stop loss is higher than 5%

of trade,what to do?

[10:35:30 09/10/08] Stalion : what do you think, argunes?

[10:35:32 09/10/08] Stalion : To Be or Not To Be???

[10:37:34 09/10/08] argunes : It's to be I think. Market volatility is high nowadays. For

our best interest putting stop loss orders to support levels are a must.

[10:38:13 09/10/08] caprica1 : you could always adjust your lot sizes FX to compensate

[10:40:58 09/10/08] masif1 : wider stop stal

[10:41:10 09/10/08] masif1 : this is something i've always raved on about

[10:41:23 09/10/08] argunes : But as Stalion said if we don't want to be stopped too early

putting 10-20 pips below support levels are wiser move.

[10:42:02 09/10/08] masif1 : this is what i've done

[10:42:11 09/10/08] masif1 : the first target is 40pips profit

[10:42:23 09/10/08] Stalion : nice move, masif...

[10:42:29 09/10/08] masif1 : so i've put an order for target as the second target

[10:42:42 09/10/08] masif1 : and put a 40pips trailing s/l

[10:43:28 09/10/08] fxjedi : but we have not yet gone onto first target!

[10:43:40 09/10/08] masif1 : i know

[10:44:00 09/10/08] masif1 : my sl is at 17250

[10:50:17 09/10/08] Stalion : since EURUSD and GBPUSD tends to move together, most of the

time, it would also be a nice idea to keep an eye out on euro dollar..its on a topping

formation now...looking to go down...which is also influencing cable..

[10:53:31 09/10/08] caprica1 : isn't that a hammer bar on the cable 15M chart?

[10:53:47 09/10/08] Stalion : and dats one of the main reasons price is dilly dallying

around our entry @ 1.7328...trying to decide whether to follow its own technical bias(long)

or play tag with EURUSD(short)...To Be Or Not To Be....lol..

[10:59:57 09/10/08] Stalion : 7 more pips to our 1st target of 1.7377...7 lucky

number...lol..

[11:01:04 09/10/08] caprica1 : should I be taking half profits now at +20?

[11:01:57 09/10/08] argunes : Hourly cable RSI has passed 50 and it's a good bullish sign

[11:02:04 09/10/08] Stalion : yes, please do....market volatility doesnt care whether you

lock in profits or not...it just moves..

[11:02:17 09/10/08] caprica1 : kool

[11:02:46 09/10/08] caprica1 : keep stop where it is?

[11:04:27 09/10/08] Stalion : take half or one third profits when +20 pips ahead..the move

stop loss to entry..

[11:05:12 09/10/08] Stalion : we shouldnt allow greed of the reward(target) to hinder us

from proper risk mgt...

[11:14:14 09/10/08] argunes : Guys I gotta go. Have a nice trading day.

[11:22:40 09/10/08] caprica1 : stopped out on the adjusted stop loss, but closed half lot at

+20

[11:27:23 09/10/08] wilmart : Its more safe to exit now



[11:31:55 09/10/08] Stalion : 1st target hit @ 1.7377

[11:34:32 09/10/08] Stalion : where price made a high of 1.7378...then went back down...hope

you now see the reasoning behind locking your profits when you get the chance..

[11:35:34 09/10/08] Stalion : standby for reentry if you were stopped out at the prearranged

profit of +20 pips..

[11:39:36 09/10/08] fxjedi : i c

[11:41:13 09/10/08] caprica1 : kool

[11:42:49 09/10/08] caprica1 : at what price? The same as before?

[11:52:18 09/10/08] Stalion : yea....cap...at the original buy order..

[11:54:37 09/10/08] caprica1 : ok

[12:33:56 09/10/08] klho83 : Set 1st target and back to my pc hour later. Found firrt target

hit. But SL at 1.7250 just hit

[12:39:38 09/10/08] Stalion : we could see a double 123 bottom whammy forming...the second

one should breach our 1st target at 1.7377 again, for the double whammy to be confirmed..

[12:39:48 09/10/08] caprica1 : just missed re-entry by a few pips. So put a buy limit in

place

[12:40:00 09/10/08] klho83 : After hit the fisrt target. Price went down to exactly 17250

and took my SL

[12:44:49 09/10/08] klho83 : 75% set at 1st target. 25% set at 2nd target. I didn't change

the SL

[12:46:39 09/10/08] caprica1 : my re-entry limit triggered, back in an waiting for another

+20 to close half lot.

[12:50:54 09/10/08] caprica1 : +20 half lot closed again

[12:58:22 09/10/08] klho83 : congra! cap

[13:02:18 09/10/08] klho83 : going in again?

[13:03:08 09/10/08] caprica1 : ntopped out just yet

[13:03:41 09/10/08] caprica1 : now it has! lol

[13:05:26 09/10/08] klho83 : M in too!

[13:24:23 09/10/08] klho83 : target 17400

[13:44:49 09/10/08] klho83 : +20pips .all flat

[13:54:14 09/10/08] masif1 : nice nice chicken and rice

[13:54:29 09/10/08] masif1 : taken 20 pips again

forexgreenland

You can wish that I'll fail to get

my target.

[/QB][/quote]

Hey Jarod, you forgot to add ''I wanna have his nuts for breakfast''..



Hi ManageMyForex, thanks for the insightful contribution on the POUND YEN(GBPJPY)movement in

the weeks to come.Linking that currency pair with the Dow Jones seems like a carry

trade,which might be a nice idea.

Chartwise, we have already crossed the 60% BUY WINDOW to the downside, in which price might

likely reach a low of 161.11 or lower at the nearest support or low (1st August 2000). MACD

negative divergence to price foretold that beaish fall in price..Ohh, by the way, I'm

looking at the monthly GBPJPY timeframe on the chart.
Price has to close above the 189.35 buy window region before a bullish drive can be

confirmed.

251.09-148.19= 102.9
0.6*102.9= 61.74
251.09-61.74=189.35 (60% BUY WINDOW)



Since we are taking this off the monthly chart, we can liken it to POSITION TRADING..where

trading projections take weeks or months to fulfill..
So mon ami, a buy in the near future might be in order, under normal market conditions, but

dont really think ''betting the farm'' might be a prudent move.





Hi C,
Thanks for your mail..You see, I apply the use of 1-2-3's, amongst other chart pattern

strategies, to define targets..Defining targets is no less important than defining

entries...and that where the 40 pip Stop Loss comes in..

It came in due to the fact that the average distance of a grid table is close to 40 pips.

But with recent market volatility, it is much more prudent to have wider stops that are more

than 40 pips when trading..

I'm sorry but am not aware of any factory's forum price action thread,C..so wouldnt say am

involved in posting there.

The chatroom is a subscription based service where traders earn and learn at the same

time.. Though the best things in life are free, but people rarely value them..







[08:13:05 10/10/08] alanlewis : morning wilmart.

[08:14:49 10/10/08] wilmart : Hey alan

[08:17:33 10/10/08] alanlewis : gbp/usd down low this morning!

[08:19:06 10/10/08] wilmart : There is not a valid signal for G/U now

[08:20:27 10/10/08] alanlewis : no, i think we might need to wait a while

[08:45:44 10/10/08] Stalion : Hi all

[08:46:23 10/10/08] wilmart : Good morning Stal

[08:49:22 10/10/08] Stalion : hope you all had a lovely night rest...

[08:50:20 10/10/08] fxjedi : i did,stal,made about 70 pips before gu started falling

yesterday

[08:51:20 10/10/08] Stalion : cool

[08:57:49 10/10/08] fxjedi : NEW STOCK MARKET TERMS for 2008 and beyond. CEO --Chief

Embezzlement Officer. CFO-- Corporate Fraud Officer. BULL MARKET -- A random market movement

causing an investor to mistake himself for a financial genius. BEAR MARKET -- A 6 to 18

month period when the kids get no allowance, the wife gets no jewelry, and the husband gets

no sex. VALUE INVESTING -- The art of buying low and selling lower. P/E RATIO -- The

percentage of investors wetting their pants as the market keeps crashing. BROKER -- What my

broker has made me. STANDARD & POOR -- Your life in a nutshell. STOCK ANALYST -- Idiot who

just downgraded your stock. STOCK SPLIT -- When your ex-wife and her lawyer split your

assets equally between themselves. FINANCIAL PLANNER -- A guy whose phone has been

disconnected. MARKET CORRECTION -- The day after you buy stocks. CASH FLOW-- The movement

your money makes as it disappears down the toilet. YAHOO -- What you yell after selling it

to some poor sucker for $240 per share.

[08:58:16 10/10/08] fxjedi : WINDOWS -- What you jump out of when you're the sucker who

bought Yahoo @ $240 per share. INSTITUTIONAL INVESTOR -- Past year investor who's now locked

up in a nuthouse. PROFIT -- An archaic word no longer in use.

[08:58:59 10/10/08] Stalion : lol...ur funny, man

[09:13:30 10/10/08] masif1 : morning all

[09:13:38 10/10/08] masif1 : any calls this morning?

[09:13:44 10/10/08] masif1 : cable diving

[09:23:43 10/10/08] masif1 : lol fxjedi

[09:24:26 10/10/08] Stalion : helloo there masif

[09:25:47 10/10/08] masif1 : hi stal

[09:29:52 10/10/08] Stalion : any news on the gbp today?

[09:36:11 10/10/08] fxjedi : none today,stal,euro dollar came out positive though

[09:39:27 10/10/08] Stalion : okay then..

[09:40:02 10/10/08] fxjedi : After several years I have been warning about the conundrum

media-polticis-accountant creativity and greed - as also selling to the poor Joe's saving

plan the toxic debt.... I can affirm with almost 99pct correctness that today the Black

Friday has come... Yet the key Dow Jones support is some 20-30 pct lower imvho... might be

seen also in one day in current markets crazyness...might be in months...but It has to

normalize from excess greed and irrationality...

[10:04:34 10/10/08] fxjedi : are we going long or short today?

[10:05:46 10/10/08] Stalion : We put a buy stop on gbpusd @ 1.6960, 1st target @1.7008...2nd

target @ 1.7065...

[10:07:00 10/10/08] Stalion : stop loss @ 1.6830...take half or a third profits after +20

pips ahead..

[10:11:26 10/10/08] fxjedi : ok,Stal

[10:15:59 10/10/08] fxjedi : looks like Black Friday

[10:17:20 10/10/08] masif1 : black fri?

[10:17:23 10/10/08] masif1 : thanks stal

[10:24:56 10/10/08] klho83 : Thanks stal! hope this is good one.

[10:43:34 10/10/08] Stalion : in the event price gets to the bearish side, we also hedge our

trade with a sell stop @ 1.6868, 1st target @ 1.6825, 2nd target @ 1.6745, 3rd target @

1.6689...

[10:44:23 10/10/08] Stalion : stop loss 1.7010...

[10:44:48 10/10/08] Stalion : so we are having 2 pending orders in place...

[10:46:50 10/10/08] fxjedi : looks gu wants to take a dive?

[12:21:43 10/10/08] masif1 : buy triggered

[12:21:55 10/10/08] masif1 : trailing s/l at 25pips

[12:39:12 10/10/08] masif1 : ok made 25pips

[12:39:25 10/10/08] masif1 : put a reentry in for another 25 pips

[12:43:33 10/10/08] caprica1 : afternoon masif. you ok dude?

[13:23:50 10/10/08] Stalion : 1st target hit twice...



[13:24:19 10/10/08] Stalion : [10:05:46 10/10/08] Stalion : We put a buy stop on gbpusd @

1.6960, 1st target @1.7008...2nd target @ 1.7065...

[13:24:40 10/10/08] Stalion : 3rd target @ 1.7155

[15:13:15 10/10/08] masif1 : reenetered at 17065

[15:13:37 10/10/08] masif1 : trailing at 55pips s/l now

[15:14:47 10/10/08] masif1 : thats 80pips profit today - more to come

[15:14:55 10/10/08] masif1 : and 60pips yesterday!

[15:15:46 10/10/08] masif1 : trailing at 75pips now

[15:16:03 10/10/08] masif1 : so that 100pips bagged today

forexgreenland

Chance

The Chance card denotes a period in which taking risks may produce positive results. This

doesn't mean head off to a casino with your life's savings! What is suggested is that you

should make gains by taking a well calculated risk. For the power of Chance to be fully

realized it is essential that you pick your risk carefully, move forward with conviction,

and above all else don't get greedy!

Congratulations,bitrader...price rocketed up way beyond a high of 1.7740...like a jet..
But the thing is you didnt put any entries...mon ami...That is the most delicate part of

it..at any timeframe... TIMING OF THE ENTRY...because at the time you post it(6.01 PM

EST?)yesterday, you would have been stopped out from the downward bearish hammer spike..
So concetrate on your entries...especially in this time of market volatility..

[09:33:40 13/10/08] Stalion : hi all

[09:37:13 13/10/08] wilmart : Gm stal

[09:39:24 13/10/08] klho83 : hi stal

[10:05:10 13/10/08] fxjedi : i made close to 100 pips last friday from your call,but am

still wondering why you call it black friday?

[10:09:05 13/10/08] Stalion : lol..jedi....someone..or was it you...mentioned Black Friday

earlier on...so I just took up the joke...but glad we reached our 3rd targets though/../

[10:11:37 13/10/08] fxjedi : yes indeed

[10:13:07 13/10/08] fxjedi : The legacy of the current financial market carnage should be a

stronger JPY and weaker Euro and USD, says Standard Bank's Steve Barrow. The USD will be

hurt because the US banking model is broken and this will make overseas investors wary of

buying US assets they previously invested in. The Euro will lose out because the economic

and financial disruptions seen will cause immense political strain in the region. However,

Barrow says Japan is an entirely different kettle of fish, it had its banking crisis some

time ago and as a result its financial markets are in much better shape. Unwinding of carry

trades, already being seen, will also continue. So for USD/JPY Barrow can see 90.0, possibly

80.0, while EUR/JPY slides toward 110.00.

[10:16:15 13/10/08] fxjedi : Commodity currencies are unlikely to rise even if global risk

appetite starts to recover, as it has early Monday.

[10:16:35 13/10/08] fxjedi : As events over the last two weeks have shown, the outlook for

the global economy is deteriorating rapidly - ensuring that commodity prices will remain

weak and that support for the currencies of Australia, New Zealand and Canada continues to

fall. "Commodity producers are the most vulnerable," said Paul Robson, foreign exchange

strategist with The Royal Bank of Scotland in London. "Markets are now pricing in

expectations of a deep recession," said Geoffrey Yu, a senior currency strategist at UBS in

Zurich as equity markets took another steep tumble, wiping as much as 40% from the value of

major stock markets since their highs in August 2007. Last week, as official attempts to

halt the credit crisis failed and risk aversion rose to its highest level in nearly 11

years, the arch-commodity currency, Australian dollar, was trashed. At one stage, it

collapsed nearly 20% against the yen, the currency seen as the prime safe haven in these

troubled times. The Australian economy itself was hardly providing any help.

[10:16:59 13/10/08] fxjedi : Not only has the Reserve Bank of Australia led the way for a

recent coordinated cut in global interest rates, by slashing its key rates by 100 basis

points, but the Australian stock market was diving too. Friday, prices fell 8.3%, the

largest fall since the crash of October 1987.

[10:17:09 13/10/08] wilmart : Stal,i really commend your effort

[10:17:47 13/10/08] Stalion : when are we going to see the end of all these bad news in the

financial markets?

[10:24:50 13/10/08] Stalion : We put a BUY STOP @ 1.7230, 1st target @ 1.7280..


[10:26:36 13/10/08] Stalion : sl 1.7168

[10:32:00 13/10/08] Stalion : we are seeing a 1-2-3 bottom formation, in which price have

already passed the number 2 mark...

[10:48:20 13/10/08] alanlewis : gpb/usd recovered well!

[10:49:24 13/10/08] fxjedi : that was a nasty spike down there early this morning,alanlewis

[10:50:30 13/10/08] alanlewis : i had a buy trade and got out before spikelucky!

[10:50:44 13/10/08] alanlewis : spike luckily.

[10:51:22 13/10/08] fxjedi : lol,lucky

[10:52:08 13/10/08] fxjedi : am not sure if the global crises is indeed feeding the markets

volatility

[10:52:39 13/10/08] fxjedi : The German government was on Monday preparing to endorse a bill

to restore liquidity and inject fresh capital in the country’s ailing banking and insurance

sector potentially worth up to €470bn – the biggest state intervention in the economy since

the end of the War.

[10:53:02 13/10/08] alanlewis : the media fuels the fear

[10:53:08 13/10/08] fxjedi : now, its like we cant talk about recession without referring to

War

[10:53:24 13/10/08] alanlewis : lol


[10:55:57 13/10/08] Stalion : our buy stop @ 1.7230 is about to get triggered..

[10:56:08 13/10/08] alanlewis : yep

[10:57:14 13/10/08] alanlewis : what targets do u have in mind stalion

[10:57:24 13/10/08] Stalion : based on our pattern we mentioned earlier...gbpusd might give

up a whole lotta pips ...

[11:05:53 13/10/08] fxjedi : Russia has fired three longe range missiles and declared its

nuclear deterrent strong

[11:06:57 13/10/08] alanlewis : any thoughts on gbp/chf, had a buy trade for 3 days up 500

pips or so where will it top out?

[11:07:02 13/10/08] fxjedi : Two of the missiles were fired from nuclear submarines in the

Asian and European extremes of the sprawling country while a third was watched by President

Dmitry Medvedev on land in northwest Russia

[11:10:17 13/10/08] fxjedi : A £516 trillion derivatives 'time-bomb'

[11:10:48 13/10/08] fxjedi : It's a market in which the lead protagonists – typically

aggressive, highly educated, and now wealthy young men – have flourished in the derivatives

boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun

[11:10:52 13/10/08] fxjedi : Not for nothing did US billionaire Warren Buffett call them the

real 'weapons of mass destruction'

[11:11:51 13/10/08] Stalion : hmmm....

[11:14:05 13/10/08] Stalion : under normal market conditions, alan, I think this is the time

to unwind ur gbpchf trade...price might turn around any time from now...

[11:15:16 13/10/08] Stalion : no particular directional movement for pairs due to lack of

news...

[11:15:26 13/10/08] Stalion : low momentum monday

[11:15:50 13/10/08] Stalion : but buy pending order still stands

[11:18:47 13/10/08] Stalion : technically, both gbpjpy and gbpchf are supposed to be on a

topping pattern...only time will tell when they drop and unwind..but dey shud

[11:21:14 13/10/08] Stalion : be back for New York Session,guys..

[11:31:59 13/10/08] alanlewis : my buy stop just took off

[12:55:00 13/10/08] masif1 : well done guys

[12:55:08 13/10/08] masif1 : i could take this trade




[12:55:18 13/10/08] masif1 : but looks like some pips were made?

[13:31:12 13/10/08] fxjedi : yea...masif....+65 pips...not even counting our 25 pip trailing

stop loss..

[13:32:06 13/10/08] fxjedi : lol!

[13:32:45 13/10/08] fxjedi : hi klho83

[13:33:14 13/10/08] fxjedi : did you see gu shoot up??

[13:33:52 13/10/08] klho83 : didn't put trialing

[13:34:24 13/10/08] klho83 : up more than 100pips

[13:34:35 13/10/08] fxjedi : am 200 pips in profits

[13:36:05 13/10/08] klho83 : Great!

[13:40:07 13/10/08] Stalion : nice start of the week,K

[13:40:25 13/10/08] Stalion : did you make any money?

[13:42:11 13/10/08] klho83 : Thanks Stalion! Please work harder Smile

[13:43:15 13/10/08] Stalion : lol....sure will....

[13:43:35 13/10/08] masif1 : excellent

[13:43:46 13/10/08] masif1 : well done guys

[13:44:00 13/10/08] masif1 : put a trailing s/l and you'll be laughing!

[13:45:39 13/10/08] Stalion : 25 pip trailing stop is on....just waiting for price to stop

me out at a +180 profits

[13:46:12 13/10/08] Stalion : stopped out

[13:47:33 13/10/08] Stalion : Very Happy

[13:48:00 13/10/08] masif1 : excellent stal

[13:48:22 13/10/08] masif1 : i used a similar method on fridays call and made about 100 pips

[13:48:38 13/10/08] masif1 : but then got greedy and gave half of it back

[13:48:50 13/10/08] fxjedi : you did it again,stal

[13:50:28 13/10/08] Stalion : not me,jedi....its the market...

[13:51:10 13/10/08] albashir : hello all.....

[13:51:26 13/10/08] albashir : hi stal...u did well was out with 245pips

[14:00:15 13/10/08] fxjedi : i can go back to sleep a happy man,stal

[14:02:04 13/10/08] Stalion : lol

[14:03:26 13/10/08] Stalion : trading is finished here for today...since we've ended on a

positive note....we'll be back tommorrow..

[14:03:46 13/10/08] Stalion : please feel free to ask any questions or comments...

[14:04:52 13/10/08] klho83 : Today I m a happy man too See u tomorow

Manic Monday: Dow roars back from worst week ever - Yahoo! News

forexgreenland

[10:17:01 15/10/08] fxjedi : hi all

[10:18:37 15/10/08] Tpack : hi fxjedi

[10:20:56 15/10/08] fxjedi : stalion sent a text alert, looks like he coudnt yet make it

online

[10:22:17 15/10/08] fxjedi : buy stop gu at 17467,1st target at 17509, 2nd target at 17535,

sl at 17421

[10:23:06 15/10/08] fxjedi : hi klho83

[10:23:10 15/10/08] klho83 : yup! got it. thanks

[10:23:28 15/10/08] klho83 : thanks fx

[10:23:29 15/10/08] fxjedi : did u get text?

[10:23:59 15/10/08] klho83 : yes

[10:24:06 15/10/08] fxjedi : ok

[10:25:59 15/10/08] fxjedi : hope we have another good trading day today

[10:39:23 15/10/08] Stalion : hi everyone..

[10:40:06 15/10/08] Stalion : sorry for being late today...had some problems with my

internet network...even the back up was down...

[10:41:03 15/10/08] fxjedi : hi stal

[10:41:48 15/10/08] Stalion : helloo there jedi..I seen you got my text alrite...

[10:42:38 15/10/08] fxjedi : sure did,

[10:44:07 15/10/08] Stalion : price on the GBPUSD steadily moving up to our 1st target of

1.7509..presently at 1.7500 as we speak..

[10:45:57 15/10/08] Stalion : hi tupac

[10:46:33 15/10/08] Tpack : Hi Stalion

[10:47:15 15/10/08] klho83 : Hi stal thanks for the text alert

[10:49:21 15/10/08] klho83 : TP 1 hit

[10:49:23 15/10/08] Stalion : no probs,K...part of the package,u know...I jus got back on

after some hours of internet disconnection...had to call my broker and ask for prices before

the text alert

[10:49:37 15/10/08] fxjedi : 1st taget hit



[10:50:14 15/10/08] Stalion : cool

[10:50:21 15/10/08] caprica1 : Hi Stal. How's it going ?

[10:50:31 15/10/08] Stalion : take profits, den shift stop loss to entry as usual...

[10:50:49 15/10/08] Stalion : helloo there cap

[10:52:01 15/10/08] Stalion : please dont wait until price retraces and clear out ur

profits....just take half profits now, den shift sl to entry...d remaining half is for 2nd

target or reentry

[10:53:24 15/10/08] Tpack : nice call stalion I can see the price projection from

17420-17495 and applied to the 17467 , was the trade a 60pct from the high of the17495 and

then the triger is the higher higs on the candles ?

[10:59:53 15/10/08] fxjedi : gu going for seconfd taget

[11:04:30 15/10/08] Stalion : cool...

[11:04:34 15/10/08] masif1 : did i miss the alert

[11:04:40 15/10/08] masif1 : first target alredy hit?

[11:05:41 15/10/08] Stalion : am not sure I understand your question,tupac...?

[11:06:11 15/10/08] Stalion : yes, masif....a lil late for the party..

[11:06:38 15/10/08] Stalion : but you can still go for 2nd target...though with more higher

risk..

[11:08:39 15/10/08] Tpack : Hi Stalion . I was just checking to see if I could figure where

you got the projection from and what was the trigger as price was meandering in and around

that area for a couple of areas what wass the trigger which made your decision ?

[11:08:58 15/10/08] Stalion : remember guys, once it gets to the 1.7525 region, you can put

in a a 15 to 25 pip trailing stop on the trade..since our sl is now at entry, we are

''playing with house money''..

[11:10:48 15/10/08] fxjedi : Always take three ‘vectors’ to understand a position, in order

to orientate a direction ‘of trade’.

[11:11:04 15/10/08] fxjedi : A fourth gives conformation

[11:11:17 15/10/08] fxjedi : It is a matter of certainty of a trade – or how stable you are

sitting on a seat with less than three or four legs

[11:11:30 15/10/08] fxjedi : Of course it all depends on what time scale you trade on – but

the longer charts cannot be ignored.

[11:11:46 15/10/08] fxjedi : Pips are where pips are for now

[11:13:43 15/10/08] Stalion : you could say any trigger on a trade wud be due to a

''confluence of events''...and intuition

[11:21:57 15/10/08] Stalion : 2nd target hit.....!!



[11:22:28 15/10/08] Stalion : 25 pip trailing stop locked on

[11:23:41 15/10/08] fxjedi : just made 68 pips , stal,

[11:23:55 15/10/08] fxjedi : thanks

[11:24:10 15/10/08] fxjedi : Very Happy

[11:24:55 15/10/08] Stalion : no probs...jedi...the market did it again..

[11:25:26 15/10/08] Stalion : and looks like its going for more pips..

[11:26:12 15/10/08] fxjedi : whooohoooo,

[11:27:33 15/10/08] fxjedi : The outlook for emerging-market currencies isn't particularly

positive, even if the appetite for risk continues to recover.

[11:31:55 15/10/08] fxjedi : Emerging-market currencies have managed to recoup some of their

recent losses as investors swallow their concerns and return to the markets, but they're

still likely to exercise a high degree of caution toward these risky units, analysts warn.

[11:32:16 15/10/08] Stalion : are you still in the GBPUSD trade, K?

[11:33:28 15/10/08] klho83 : 50% 1st Target .25% 2nd target last 25% trailinggggggggg

[11:33:36 15/10/08] masif1 : well done guys

[11:33:59 15/10/08] masif1 : so now your on a 25pips trailing s/l?

[11:34:22 15/10/08] klho83 : 30pips trail

[11:39:03 15/10/08] Stalion : you see, yesterday, if you'd use our standard risk mgt

principle, you would have been stopped out at ur entry while making +40 pips...

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