[09:02:51 21/04/09] Stalion : we put a buy stop on GBPUSD @ 1.4574...1st target @
1.4613...2nd target @ 1.4645...stop loss @ 1.4510..
[09:03:08 21/04/09] fxjedi : hi stal
[20:59:09 21/04/09] Stalion : hi paul
[20:59:50 21/04/09] Stalion : do we trade da retracement?
[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560
[21:01:31 21/04/09] Stalion : stop loss @ 1.4710
[22:57:24 21/04/09] Paulfx : hi stallion, did you get my email?
[23:31:44 21/04/09] Paulfx : my question was regarding how you are calculating retracement
[23:32:02 21/04/09] Paulfx : on the call you posted not too long ago
[10:07:47 22/04/09] Stalion : helloo Paul...
[10:09:56 22/04/09] Stalion : total of about 102 pips made to 2nd target around the early
hours of this morning
[10:11:38 22/04/09] Learning_pips : hi stal
[10:19:46 22/04/09] Stalion : helloo LP....
[10:24:11 22/04/09] Learning_pips : I see so if the price moves the opp direction and then
moves agian in the direction of the call we are supposed to re-enter??
[10:27:00 22/04/09] Stalion : more often than not, LP...it depends...if the charts show its
a high probability thing, we reenter..
[10:28:36 22/04/09] Stalion : there are also times where you reenter but get stopped out
again and again..most times, it coz price is trying to shake off the weak hands with as few
traders to its target...
[10:28:39 22/04/09] Learning_pips : cool
[10:29:22 22/04/09] Stalion : while most times, we are just simply wrong..maybe due to range consolidation
[10:29:41 22/04/09] Learning_pips : hmm
[10:29:44 22/04/09] Stalion : or some other technical/fundamental reason
[10:30:23 22/04/09] Learning_pips : because I have often seen the calls are absolutely spot on targets but sometimes its the timing thats different
[10:30:41 22/04/09] Learning_pips : I am talking about my own calls
[10:31:06 22/04/09] Learning_pips : sometimes even urs too
[10:32:07 22/04/09] Stalion : wrong timing....wrong entries....
[10:32:45 22/04/09] Stalion : right timing, right entries
[10:32:53 22/04/09] Learning_pips : hmm
[10:34:44 22/04/09] Learning_pips : i still have some understanding on levels and price but
timing wise not that good
[10:35:44 22/04/09] Learning_pips : hammer on 15min gbpusd around last support area
[10:44:20 22/04/09] Learning_pips : stal i hv entered buy with a stop on the hammers low
[10:44:45 22/04/09] Stalion : buy stop on GBPUSD @ 1.4575..1st target @ 14595..2nd target @ 14609,,,
[10:46:49 22/04/09] Stalion : sl @ 1.4521
[10:55:54 22/04/09] Paulfx : stal great call i was in it but didnt get alll the pips...
still ok took profit and no sl
[10:56:03 22/04/09] Paulfx : morning lp
[10:58:27 22/04/09] Learning_pips : hw s it goin
[10:59:39 22/04/09] Stalion : helloo Paul...
[10:59:44 22/04/09] Paulfx : its always great in the land of profits
[11:00:10 22/04/09] Stalion : am preparing a response to your question for general
edification...
[11:00:37 22/04/09] Paulfx : ok thank you! young grasshopper eager to learn!
[11:01:05 22/04/09] Stalion : Greenland...the Land of Profits...nice connotation, Paul...
[11:01:53 22/04/09] Stalion : the time of profits or success is when ur most
vulnerable....you can fall if no proper risk mgt
[11:02:18 22/04/09] Stalion : and overconfidence
[11:02:36 22/04/09] Paulfx : yes it is- fear and greed
[11:03:07 22/04/09] Stalion : hmmmm...
[11:09:13 22/04/09] Paulfx : i was asleep to reenter for that gbp call last night, would
have been another good play but like you and LP were talking about earlier could have been stopped out
[11:15:03 22/04/09] Paulfx : would it be wise to make a play on the retracement?
[11:15:04 22/04/09] Stalion : maybe you could trying pulling the trigger, then ask some
incisive questions later...got ur question thru pm less than an hour after sending the
gbpusd call last night...the opportunity lay waiting for hrs before finally going down
around 0300 GMT....you had time ,Paul...but you hesistated
[11:16:03 22/04/09] Learning_pips : second target reached
[11:16:09 22/04/09] Paulfx : ok... wow... obviously not!
[11:16:31 22/04/09] Paulfx : now that is what i call momentum!
[11:16:43 22/04/09] Stalion : 1st target hit....@ 14595....current price now 1.4610
[11:16:47 22/04/09] Learning_pips : wow it was so quick
[11:17:15 22/04/09] Stalion : dats intraday trading for you, Paul
[11:17:25 22/04/09] Stalion : did you enter?
[11:17:28 22/04/09] Learning_pips : i closed out with 33pips
[11:18:40 22/04/09] Paulfx : yes
[11:19:28 22/04/09] Stalion : cool
Quote:
|
Originally Posted by Paulfx
How are you basing the retracement? I am looking on the hour chart and
seeing a low of 1.4466 04/21 00:00h and a high of 1.4707 04/21 16:00h. Are those figures
correct? Also, are we looking to retrace to what level? 60% 1.4614 about? Thank
you,
|
Helloo Paul, I assume you are taking about the GBPSD call made in the early hours of the
morning..Those first set of figures are correct, in a way...but you need to go back a step
further...Since you seem like more of a system trader,I'll try and make some exposition
using fibonnacci retracements on the charts..back a step further,around 17/4/09, to a low at
21/4...That is the 1st step...
The 2nd step is down below, where am replying fahd..
Quote:
Originally Posted by fahd
Hi everybody,
According to the signal today, GBP/USD had to go up 40 pips in case of a UK's claimant count
change of 99k or lower. However, the very opposit just occured as GBP/USD went down by more
than 50 pips at the count of 73.7k
Can anybody explain to me what i am missing here!
|
Helloo fahd, maybe we might make a prognosis of what you are missing here..Hi Felix, hope
you dont mind if I answer him...just a symphony of events that flows like an epiphany..
UK Claimants count report that came out around 4.30 a.m this Wednesday morning,is the change
in the number of people claiming unemployment-related benefits during the previous
month..Although it's generally viewed as a lagging indicator, the number of unemployed
people is an important signal of overall economic health because consumer spending is highly
correlated with labor conditions..So it's the first indication of the employment situation,
released a month earlier than the Unemployment Rate...
The previous change was 136.6k (revised), while economists are forecasting 118k ...but the
actual result turned about to be 73.3k..
To cut long story short, the market has already discount that piece of
information..Normally, if the ACTUAL was less than the EXPECTED,it is good for the
currency...In this case, technical wise, price had to fulfill the 60% window before rocketed
upwards, according to fundamentals..That downward retracement was observed from,''on da retracement''
[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560
[21:01:31 21/04/09] Stalion : stop loss @ 1.4710
Now GBPUSD ressurrects...figuratively..
That, mon ami...is ze 2nd step..
Sayonara..
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