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I decided to take 500 pips, - the action just hit my TP, so a happy
result.......
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For anyone unfamiliar with the Bear Flag.................
The technical target is derived by subtracting the height of the flag pole from the eventual breakout level at point.
http://chart-patterns.netfirms.com/p...bear_flag2.png
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Quote Post #220
"There's a Gartley on the 1 hr, so could be a good time to grab the balance"
The Gartley I mentioned gave circa 250 pips. I didn't trade this one myself, as I was in the land of nod, but it was a good move for anyone that took the opportunity.
Good weekend all - arco
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http://www.sharetrader.co.nz/picture...5&pictureid=53
Seems like a false break below the long term support (thick black line), followed by a bounce and pullback which respected support. Long 150.90 SL 150.45.
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Wow.....nearly 200 pip drop in EY in seconds.
Fortunate I was short with target +52.5 pips :D
When you see moves like this it confirms the point about having a stop in place - ALWAYS - just in case of a major move against you.
Could be something to do with some JAP announcements between 5.30- 8.00 NZT
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Hey arco it came through before lunchtime!! Stop was at 200 pip , take at 600. Very small trade but hey 600...
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Pretty exciting Peat.....the big runs are amazing if you can catch them.
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Hi peat, on what basis did you decide to go long?
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yeh thats the good question AMR
and tbh I'm always a bit suss of post event justifications but heres two pics that supported the stance. first the 3 hour had found support at the 78% retracement and at the 15minute time frame i saw it had done the same tho I'd missed the boat to some extent hence the large stop.
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Battling against the Kumo.
KS @ 134.86
http://i25.tinypic.com/2qk2ons.gif
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Potentially a small H&S forming on the H1.
Targets below.
http://i27.tinypic.com/ws5r93.gif