pipMonster

Short GJ @ 186.82 $Y Cowpip? I thought you were a geppy man. I hope it runs nicely into profits for you.

Closed 1/2 position @ +50 and remainder @ +1. Profits is profits, but that ain't much for 6-1/2 hours of waiting. We'll try it again tomorrow.

You had to say that, didn't you! :o Price has now moved against me by better than 40 pips :frustrated:

Short GJ @ 187.94

Closed for +62. This market is so jittery, I'll take what I can get. When price retraced back to ~189.00 I was hoping it was only a test of the round number. :beer:

We'll see if this bugger has any legs. The market has been a real bear over the last 24 hours. Several trading blogs I was reading are also complaining of difficult conditions and that large banks and funds are pulling in their algorithms so as to only gather a small(for them) position at any particular time until conditions improve. Edit: Wasp, it's not the live calls, it's the crappy market conditions.

Short GJ @ 188.98

I should have waited also Cowpip. I hope you were able to take profit up at 190.00

i'm right with you: -65 again. Long GJ @ 189.61. Last chance. Otherwise I lay low for a while because something is very odd about this market. Edit: Everyone should put everything they have short on GJ since I've gone long. You'll most likely get at least 65 if not more pips.

Short GJ @ 188.95 :missy:

Out at -65. Hmmm...what did I not see? Edit: Seems I had my stop in the exact spot the bigger players wanted to push price to. Amazing, simply amazing.

Right w/ you. I'm short from 188.70. Hopefully this bugger will turn back down before too long.

Now that the canvas has changed, are you drawing a descending trend line from the hourly candle high at 190.42 through the close of the giant bullish candle(12:00-1:00pm Alpari time) that ate my previous short position?

Everything's better now. Took a short at the last hourly candle after the UK GDP news was released. Closed for +98. That was a cheeky trade as Wasp would say. At least I'm back to last night's profit level.

It wasn't so much the cause in respect to data being released, but in respect for what traders were expecting to be released. You've seen it many times where an important data release is upcoming and traders drive it a good distance in the opposite direction. That is what I believe happened in this case. Live and learn. It certainly was a stinker of a loss though I'm happy to take them while I'm learning.

The retrace over the last hour may have been a setup for the UK GDP estimate which now has come in at a dismal -0.02%. It pays to pay attention to the data releases.:doh:

Out at -84. Hmmm... Back to the drawing board.

I guess it's not clear enough. I went short at the close of the 240-min candle seeing that it closed below support(187.93). I'm currently under water and very near a stop loss. How did you guys interpret this new candle? what did I miss?

This exchange between cowpip and wasp has been excellent. I've been struggling with certain aspects of this strategy. You guys have made it much clearer.

Absolutely Wasp. If you find yourself on Maui thawing out from the cold English winter, give me a shout and we'll go close the pub here. Cheers!

Cheers Wasp! Thanks for all the information you unselfishly gave out in this thread. I hope you get back on track. Last week was pretty good, eh?

Long GJ @ 190.76

Closed Long GJ @ 189.81 for +104. Will now wait for next candle at top of hour. Edit: OMG! I scored more pips than cowpip! Woo-hoo!

Long GJ @ 188.77(includes spread of 7 pips)

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?