A cluster of stops all the way to 1.6218 on GBPUSD

forex live trades, setups, charts

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Paul
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To Marc

Postby Paul » Tue Jul 14, 2009 10:40 pm

That's right. Apply LRC aligned with the Elliott waves of the price chart. It gives very rewarding signals and should it not work you will know perfectly well where to put your stop. I am talking about the hours of important data release.

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Paul
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At the moment I see three targets

Postby Paul » Tue Jul 14, 2009 10:47 pm

At the moment I see three targets: 1.3936, 1.4013 and 1.4091/85 as I checked USDCHF levels and simple proportional calculus gives exactly the same lines. But it is better not to guess what comes first, what next etc. Like I said the last signal was a sell. It suggests a retest of lows and then up. But we will see.

Paul
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It is interesting to notice

Postby Paul » Tue Jul 14, 2009 10:58 pm

It is interesting to notice that the fresh strong buying @ 1.3936 was taking place when momentum was at its local lowest by LRC standard.

mstandifer
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Obviously still more to learn

Postby mstandifer » Wed Jul 15, 2009 6:58 am

As evidenced by the complete opposite of what I thought, price went up instead of down! LOL

Based on previous areas of price levels then, should we be looking for a retrace around the 1.4071 area to the 1.4013 -15 area?
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Paul
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1.6405 tested by GBPUSD

Postby Paul » Wed Jul 15, 2009 7:44 am

1.6405 tested by GBPUSD in an exact manner. Some levels are more important than the others. 1.6405 comes from very heavy selling on July 3.
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Paul
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chasing the market

Postby Paul » Wed Jul 15, 2009 7:53 am

chasing the market.
When momentum really changed the risk of a serious pullback diminished.
The signals marked by an arrow. EURUSD should retrace to 1.3998 after some time.
1.4013 was an important barrier. Four attempts to break it were futile because momentum was really weak. But it is evident that some market players tried to squeeze prices through the area and we can only shake our heads on how relatively easy they threatened short positions built above.

The weak momentum made the eurusd slump to below 1.3920 where no wonder we expected a great number of limit entry buy orders waiting.
Longs are seen @ 1.3882
1.3905
1.3920/25.

The main buying power is seen not below 1.3920 but a little higher 1.3936 and this area is the most important short term support. Leading bourses are euro supportive. The yen is euro supportive too now. This is what I call the alignment of energy.
Without a corrective move towards 1.3936 a break of 1.4013 made some participants chase the market. The move up was swift. But indices for my knowledge have overdone implying a correcting move should take place.
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Paul
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USDCHF has slumped to 1.0790

Postby Paul » Wed Jul 15, 2009 8:10 am

USDCHF has slumped to 1.0790. Similarly to GBPUSD this exactness is thrilling.
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Paul
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SHORT EURJPY @ 131.37 and above, TP 130.97

Postby Paul » Wed Jul 15, 2009 8:18 am

SHORT EURJPY @ 131.37 and above, TP 130.97
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Paul
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SHORT EURJPY @ 131.37 and above, TP 130.97, closed at 130.99

Postby Paul » Wed Sep 02, 2009 1:40 pm

SHORT EURJPY @ 131.37 and above, TP 130.97, closed at 130.99 :D

It's been a hard day's night.
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Paul&Paul
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Happy New Year trading!

Postby Paul&Paul » Thu Dec 30, 2010 5:13 pm

Trade well till the bell
Trade not mock
Round the clock
Click to make
The big fish sick.

Paul

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