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wasp

Live FX Trades

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Retested the 191.30 region and dropped off... not many buyers still...

 

Not convinced off either direction atm and if this goes sour I am taking a break for a while.......

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Well, gone long off the 190.50 line as should have done instead of panicking and jumping out and in early and losing 80 pips more! Back down to 210 for the week :doh:

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I'm going to hold fire. If we would have been playing this solely off of the hourly, none of this would have happened. I'm going to wait and see where this hourly candle ends, rather than trying to guess when the trend-line is going to break. I want to see the sucker break before I enter.

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I'm going to hold fire. If we would have been playing this solely off of the hourly, none of this would have happened. I'm going to wait and see where this hourly candle ends, rather than trying to guess when the trend-line is going to break. I want to see the sucker break before I enter.

 

I don't blame you... the volatility is jumping this around at 50 pips like it would normally 5... Better to be as perfect as you can.

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I'm an idiot. I just now realized that this is no where near support. TL break PLUS proximity to SR zone is required. DUH!!! I'm going to get toasted on this, I bet. Stupid mistake.

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Initially, I felt left out of the continuation of the move down having taken profit at +148. I can see now that sleep was my protector, keeping me from jumping in and out of the run down.

 

I'm only demoing this setup as it is, but I was able to grab a pretty decent entry.

geppy_1hr_08-07-2008.gif.29ffbf97ec5fa1082d706829cd557b8b.gif

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Nicely done, pipmonster. Yep... If I had my head screwed on right, this would have been a better day. Couple of mistakes cost me my earnings. Time to reload and smarten up.

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OK, looks like we'll have a spinning top form as the latest 4-hr candle. The wicks of the candle have punctured both the high(188.94) resistance and low(187.93) support. I'm inclined to think this may reverse considering the three previous candles form a triple bottom.

 

Are you guys using alerts for s&r levels also? If I had used one I might possibly have closed at the low support level.

 

Any thoughts?

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I'm an idiot. I just now realized that this is no where near support. TL break PLUS proximity to SR zone is required. DUH!!! I'm going to get toasted on this, I bet. Stupid mistake.

 

Hi there cowpip, everyone makes mistakes...

 

Question: How do you identify support?

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