The Pit

[weissdawg]

Here's how I've counted this. An expanded flat. I had a strong feeling that it would be an expanded flat when the "A" wave didn't even come close to the .382 retacement, and prices stalled around the end of the "B" wave. Now we're still in another first wave, but also in a larger third wave.

[Gomer]

Howdy yall... I wuz jist sittin on my porch, drinkin a beer, and thinkin of all them birds I dun killed yessirday. Wut a day, I dun shot like 15 birds and a squirrel. All the sudden, that dang lite starts flickerin again. It flickered red bout 3 times, and accordin to the manual on page 877, that meens that prices ain't gonna rally jist yet. They is gonna need to go lower than 1.2720 again before rallyin, I reckon. I better git goin, I steel got a hole bottle uhh moonshine ta drink.

[weissdawg]

Ok....should be time to head lower....setting my stop at 1.2746.

[weissdawg]

I expect prices to make it to 1.2670 area before possibly bottomming. I'll be counting on the way down.

[weissdawg]

I am still short, and will be liquidating around 1.2705. I'll wait for an "A" wave upwards to happen, and then I'll try to buy the bottom of the "B" wave for a scalp north.

[weissdawg]

Still short with 50% of what I initially started with at 1.2848. I didn't get to unload everything where I wanted, but I think I'll have another chance very soon. Now I'm going to add about 20% to my position here at 1.2769. The stop on these additionals is 1.2780.

[weissdawg]

The sharpness of this upward correction we had today has forced me to reconsider my count for the decline from 1.2860, and also my targets. I'll still be taking some off the table at 1.2700 area, but I think there is a lot more potential. Stay tuned.....

Also, I see that there are a few of you reading this thread, so I'll continue to post for a while. But I really don't want to be the only one posting here. Its boring. I opened the thread so people can post their trades and analysis, or just ask some questions regarding trading. Don't be shy or afraid of posting a bad trade.....you will learn from it. And if you see something in my trading that you think you could help me with, feel free to criticize me. I won't get mad.

[marketwavez]

hi weiss


Here's my bad trade and how it turned out ......

Well , not that bad............. Only 12 pip loss

See chart n below