I believe I said… ‘wouldn’t be at all suprised to see the Friday candle heading north’ or words to that effect. Must confess to being very suprised to see the reversal happing today! Thought PA would go both ways. Just goes to show … trade what you see and not what you think’. Unfortunately, too much cider last night and didn’t surface until 13:00 GMT. By which time the move was well underway!
Great post as always ST… wiser words a newb won’t find!
Robert, I noticed that you’ve replaced your “rugby” avatar with a “dead bull” avatar. That’s funny!
For anyone who doesn’t know what I’m referring to, not far from Wall Street, there’s a huge bronze sculpture of a bull on semi-permanent display on a public walkway. The sculpture is titled “Charging Bull”, and it has become a tourist attraction in Lower Manhattan.
Artist Ji Lee created a dead bull, to “replace” the real bull sculpture. Not a real replacement, of course, a virtual replacement. Anyway, the result of his work became the cover illustration for an issue of [I]Portfolio[/I] magazine.
Robert has adopted that picture as his current avatar.
Didn’t say I was long Sanj… but yes long off the pivot (3056) but made mine on the down move today… so will close out this long at London close for whatever (tight stop at 3050).
Im just looking at my charts, GJ broke the 130.00 mark today, but currently looks like there is some heavy supply coming in, thinking i’ll be going short on that if i see it coming down…
Order was hit and is looking good at the moment. 42 pips, but won’t be moving stop to break even until end of next 4hr candle which will put my stop above the trend line.
You chart is a little to zoomed in for me to give an opinion of the trend channel. I am at work so I cant see charts right now. However I do see the nice inverted hammer dead smack on a resistance level. I would have waited to get in at the 50% level of that candles wick before looking to go short. All in all I think thats a winner. Good job
Things appear to have settled down again, I nearly closed my positions (I also went short EU a little while after getting in on GU).
As things stand my stops are now at BE on both trades, with 80 pips between them on the table at the moment. Trying to resist looking at the charts until 7pm, then the current 4h candle closes. I’m trying to go with the theory that if my analysis is based upon the 4h chart, then I’ll only look at the chart every 4 hours… 'tis very tempting though!
I’d love to be able to scale out of my positions by about 70%, but unfortunately I don’t seem to be able to on the Alapri UK Spread Betting MT4 platform. Would be very grateful if anyone knows how to do this.
Hmmm I had a short on the aussie from last night. I moved my stop to take half profit this morning before work. I didnt see any reason to get out. So if your right by your long on the Aussie I make money and if you are wrong I make more money. Kind of nice odds if you ask me