Week 23

torero · #1 (**permalink**) 05-23-2007, 02:52 AM

It's time to get back to forex, I think. Anyone seeing this? 50% retrace with falling wedge and Monthly S1. Watching here for clues to see if support holds.

Don4 · #2 (**permalink**) 05-23-2007, 03:58 AM

I have taken a short position looking for TP at 1.9716 if price makes its way down back to support at 50% fibs and holds ill take a longer term trade with a TP of 1.9988. But ill have to wait and see. (Think it will be a good R/R trade)

torero · #3 (**permalink**) 05-23-2007, 05:23 AM

You should out of the short already. Are you looking for a long from the 50% right. That's what I'm looking also.

Don4 · #4 (**permalink**) 05-23-2007, 10:59 AM

Hey torero, nice call

. U nailed this one, as for me i misssed the bus i was waiting for a pull back to at least 1.9700 then i would have taken the trade.
(on my live account). since im still forward testing my longer term system i did buy yesterday on demo and still looking for a tp of 1.9988. But congradulation on the trade, and nice to see u back trading the pound!!!

torero · #5 (**permalink**) 05-23-2007, 11:15 AM

Thanks, yeah, it's been boring waiting for it to act normal again. I don't like historical areas too much, too many shifty nervous eyes.

We'll see how this go.

notouch · #6 (**permalink**) 05-23-2007, 01:22 PM

Today was a nice confluence on technicals and fundamentals. We were at technical support and the BofE minutes were very hawkish so it was one of those "can't miss" trades.

Don4 · #7 (**permalink**) 05-23-2007, 01:54 PM

Pin bar forming on 4hr charts.

Don4 · #8 (**permalink**) 05-23-2007, 04:19 PM

Just some thoughts, today makes the 3rd time trend was broken. with the pin bar forming im thinking a retest of the trend. If support holds and todays high is broken then a continuation upward should occur.These are my views, anyone else?

http://www.traderslaboratory.com/for...1&d=1179951653

Don4 · #9 (**permalink**) 05-23-2007, 05:41 PM

Still trying to figure out how to post pictures

http://www.traderslaboratory.com/for...1&d=1179956556

walterw · #10 (**permalink**) 05-23-2007, 06:38 PM

	Quote:	Don4
	Still trying to figure out how to post pictures http://www.traderslaboratory.com/for...1&d=1179956556

Hi Don, I dont know if you are following our "flip" aproach, but I see on your chart a lot of flips there that could have delivered very nice trades.... sounds like forex is very respectfull to S&R levels... cheers Walter.

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