I guess
Trade What You See Not What You Think
Price will move up after it breaks this trendline I think.
Trade What You See Not What You Think
Price will move up after it breaks this trendline I think.
Attached Image (click to enlarge)
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #65,222
- Mar 4, 2008 3:37pm Mar 4, 2008 3:37pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #65,223
- Mar 4, 2008 3:42pm Mar 4, 2008 3:42pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
Trump fired him
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #65,225
- Mar 4, 2008 3:51pm Mar 4, 2008 3:51pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
I like it because it keeps your mind aware of Price Action. But, always trust your own interpertation of Price Action, not the indictator. It can be misleading as all indicators inherently are.
In fact because I'm a noob in PA, I've not transfered into PA system completely yet. I'm using other indicators beside this system but I wish someday I can do it. I feel how amazing and exciting can be to decide about entering or exiting a trade in any financial market, just by looking on chart itself. But until that day there is long way for me.
I caught one bearish trade today, right when everybody was saying long long ... it was a successful trade with a nice 100 pips profit. I did it solely based on PA. The indicator alerted me for a MSH (Market Structure High) I hadn't seen this pattern till then and didn't know about that. I went to trading-naked.com and read about it. Because the candle was too long I waited for a retrace and at the next candle i entered a short. I read in that site that this formation has a high rate of success when it occurs. Although I did it conservatively and with a small lot size, but anyway it was a win.
This is that trade:
... so thanks your help guys, I'm learning ...
Discipline + Patience - Fear - Greed = Success
- #65,227
- Mar 4, 2008 4:00pm Mar 4, 2008 4:00pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
I have a slight feeling this the Beast will not go lower then 205.00. Here is a chart. Comments?
Trade what you see, not what you think.
Sure my friend, and I want to add to your words that PA by itself can't be enough to enter a trade and we should keep an eye on s/r levels, pivot lines, fib levels, confluences and trend lines.
In fact because I'm a noob in PA, I've not transfered into PA system completely yet. I'm using other indicators beside this system but I wish someday I can do it. I feel how amazing and exciting can be to decide about entering or exiting a trade in any financial market, just by looking on chart itself. But until that day there is long way for me.
I caught one bearish trade today, right when everybody was saying long long ... it was a successful trade with a nice 100 pips profit. I did it solely based on PA. The indicator alerted me for a MSH (Market Structure High) I hadn't seen this pattern till then and didn't know about that. I went to trading-naked.com and read about it. Because the candle was too long I waited for a retrace and at the next candle i entered a short. I read in that site that this formation has a high rate of success when it occurs. Although I did it conservatively and with a small lot size, but anyway it was a win.
This is that trade:
... so thanks your help guys, I'm learning ...
hey what TA program are you using?
Thanks, Robin
- #65,230
- Mar 4, 2008 4:09pm Mar 4, 2008 4:09pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
I have a slight feeling this the Beast will not go lower then 205.00. Here is a chart. Comments?
let's see how it advances.
Discipline + Patience - Fear - Greed = Success
- #65,231
- Mar 4, 2008 4:11pm Mar 4, 2008 4:11pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
Discipline + Patience - Fear - Greed = Success
- #65,233
- Mar 4, 2008 4:18pm Mar 4, 2008 4:18pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Sure my friend, and I want to add to your words that PA by itself can't be enough to enter a trade and we should keep an eye on s/r levels, pivot lines, fib levels, confluences and trend lines.
In fact because I'm a noob in PA, I've not transfered into PA system completely yet. I'm using other indicators beside this system but I wish someday I can do it. I feel how amazing and exciting can be to decide about entering or exiting a trade in any financial market, just by looking on chart itself. But until that day there is long way for me.
I caught one bearish trade today, right when everybody was saying long long ... it was a successful trade with a nice 100 pips profit. I did it solely based on PA. The indicator alerted me for a MSH (Market Structure High) I hadn't seen this pattern till then and didn't know about that. I went to trading-naked.com and read about it. Because the candle was too long I waited for a retrace and at the next candle i entered a short. I read in that site that this formation has a high rate of success when it occurs. Although I did it conservatively and with a small lot size, but anyway it was a win.
This is that trade:
... so thanks your help guys, I'm learning ...
The MSH looks similar to DBHLC formation, which is bearish. I'll look into it and see if there are any differences between the two.
Nice trade.
Indicators show the past. Price Action "Indicates" the future.
- #65,237
- Mar 4, 2008 4:29pm Mar 4, 2008 4:29pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
sorry
I meant the chart program
Discipline + Patience - Fear - Greed = Success
- #65,240
- Mar 4, 2008 4:50pm Mar 4, 2008 4:50pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Anyone looking to short around the 205.60ish level? Sorry I can't post a chart not at my home computer. It just reminds me of all those shorts I missed at the 213.60ish level last month.
I know Que is thinking about it.
I know Que is thinking about it.
Indicators show the past. Price Action "Indicates" the future.