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Trade what you see NOT what you expect

  • #221
  • Feb 5, 2009 10:59pm Feb 5, 2009 10:59pm
:nerd:
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Just digging in the trenches like everyone else!
  • #222
  • Feb 5, 2009 11:14pm Feb 5, 2009 11:14pm
:nerd:
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Just digging in the trenches like everyone else!
  • #223
  • Feb 6, 2009 3:12am Feb 6, 2009 3:12am
EO...first of all, let me say ALWAYS THANKFUL for your insight and teaching to so many..regarding the two last charts you posted...and considering what you posted a few hours earlier on the cable thread....do these charts cancel your likely possibility of shorting on the daily 50 ema?
  • #224
  • Feb 6, 2009 4:03am Feb 6, 2009 4:03am
Quoting rt4x
EO...first of all, let me say ALWAYS THANKFUL for your insight and teaching to so many..regarding the two last charts you posted...and considering what you posted a few hours earlier on the cable thread....do these charts cancel your likely possibility of shorting on the daily 50 ema?
I took the short frm 4765 and and closed out already. At this point, I will watch the PA before I take the short again.
Just digging in the trenches like everyone else!
  • #225
  • Feb 7, 2009 11:06am Feb 7, 2009 11:06am
Just finished reading the thread..

One word for you EO..

AWESOME..

keep it up bro..
always listening to what u going to say..

pop
{Promotion Removed}
  • #226
  • Feb 7, 2009 11:09am Feb 7, 2009 11:09am
Quoting baz
Turtle
You are on your way to even more success NOW.......
dont follow the herd.....they dont know where they are going.
take care

baz
Hi baz,
how are u doing buddy..

i like EO strategy and analysis alot..

its similar like your setup chart..

i wish one day you will start new thread on your approach..

missed the old days..
when we trade together with naijafx..and others..

pop
ps: im back in FX again..after 1 year OFF!
{Promotion Removed}
  • #227
  • Feb 7, 2009 11:59am Feb 7, 2009 11:59am
Quoting popisdead
Hi baz,
how are u doing buddy..

i like EO strategy and analysis alot..

its similar like your setup chart..

i wish one day you will start new thread on your approach..

missed the old days..
when we trade together with naijafx..and others..

pop
ps: im back in FX again..after 1 year OFF!

hi Pop
yes Eo has a similar method to mine,but i had too many PM from traders,so become difficult to focus.
let me know if you need anything,i hope you went thru the Videos.
i will send something thru to your PM later in week ...

take care

baz
  • #228
  • Feb 7, 2009 10:57pm Feb 7, 2009 10:57pm
Quoting popisdead
Just finished reading the thread..

One word for you EO..

AWESOME..

keep it up bro..
always listening to what u going to say..

pop
Thank you!

EO
Just digging in the trenches like everyone else!
  • #229
  • Feb 8, 2009 9:27am Feb 8, 2009 9:27am
Quoting baz
hi Pop
yes Eo has a similar method to mine,but i had too many PM from traders,so become difficult to focus.
let me know if you need anything,i hope you went thru the Videos.
i will send something thru to your PM later in week ...

take care

baz
too many PMs..
its about time you start your own thread..

trust me..the PM will be gone after that..

pop
{Promotion Removed}
  • #230
  • Feb 12, 2009 6:23pm Feb 12, 2009 6:23pm
Hi EO/Infinity,

I've been following this thread and both of your trades in the cable forum and I am so grateful for the advice you're both giving. I'm trying to predict my own high-probability trades now. I spotted this tonight (around 11pm UK time). Infinity had already posted a chart that drew my attention to the trend line earlier in the evening and I noticed it was lining up with the 50 EMA in the 15M. I took the trade at 1.4254 and rode it up to 1.4310. It might carry on up but that looked like a good place to take profit.

The question I have is this:

Did the price reverse purely because it touched the 50 EMA, or did the trendline give it a higher probability of being profitable, given that it had already been broken an hour or so before?

Thanks for your help - I'm not trading lots of money yet but with time I hope to gain more confidence - just need to check my thinking from time to time....
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  • #231
  • Feb 12, 2009 9:22pm Feb 12, 2009 9:22pm
Quoting MarkyBoy
Hi EO/Infinity,

I've been following this thread and both of your trades in the cable forum and I am so grateful for the advice you're both giving. I'm trying to predict my own high-probability trades now. I spotted this tonight (around 11pm UK time). Infinity had already posted a chart that drew my attention to the trend line earlier in the evening and I noticed it was lining up with the 50 EMA in the 15M. I took the trade at 1.4254 and rode it up to 1.4310. It might carry on up but that looked like a good place to take profit.

The question...
Nice entry, it looks like a combination of both.......

Looking at my Daily and 4HR, I got in @ 4292, took half at +50 and letting the rest ride until 4450, s/l @ +2.

Then I got a PO short with a target of 4400.

Let's see what happens....:nerd:

HOLLA
  • #232
  • Feb 13, 2009 12:42am Feb 13, 2009 12:42am
Quoting Turtle
Nice entry, it looks like a combination of both.......

Looking at my Daily and 4HR, I got in @ 4292, took half at +50 and letting the rest ride until 4450, s/l @ +2.

Then I got a PO short with a target of 4400.

Let's see what happens....:nerd:

HOLLA
Thanks for he advice and encouragement Turtle - I was trying to understand whether because the trendline had already been taken out once it would still be a valid resistance,as well as the 50 EMA.

Looks like I'm finally making progress (although if I'd had the courage to leave it running it would be up 124 pips at 1.4379 this morning)!

Still, mustn't get greedy

  • #233
  • Feb 13, 2009 1:26am Feb 13, 2009 1:26am
Quoting Turtle
Nice entry, it looks like a combination of both.......

Looking at my Daily and 4HR, I got in @ 4292, took half at +50 and letting the rest ride until 4450, s/l @ +2.

Then I got a PO short with a target of 4400.

Let's see what happens....:nerd:

HOLLA
Can I ask, what resistance are you seeing at 4400 to make you go short there?

Thanks
  • #234
  • Feb 13, 2009 7:47am Feb 13, 2009 7:47am
Quoting Turtle
Nice entry, it looks like a combination of both.......

Looking at my Daily and 4HR, I got in @ 4292, took half at +50 and letting the rest ride until 4450, s/l @ +2.

Then I got a PO short with a target of 4400.

Let's see what happens....:nerd:

HOLLA
Excellent stuff brother!
Patience + Discipline - Greed = Success
  • #235
  • Feb 13, 2009 8:49am Feb 13, 2009 8:49am
Quoting MarkyBoy
Can I ask, what resistance are you seeing at 4400 to make you go short there?

Thanks
Sorry if I wasn't clear....I had a PO short at 4450 with a target at 4400, s/l @ 4485. Which she hit. No problem, my other trade closed out nicely.

I had a 150EMA sitting at my 1HR and 4HR around that 4460 level, so I decided to take profit there and set a PO short, looking for a bounce back to 4400. She blew right past it...so I will wait for my next setup.

HOLLA
  • #236
  • Feb 13, 2009 8:49am Feb 13, 2009 8:49am
Quoting Infinity
Excellent stuff brother!
Thanks bro........

HOLLA
  • #237
  • Feb 13, 2009 8:53am Feb 13, 2009 8:53am
Quoting MarkyBoy
Hi EO/Infinity,

I've been following this thread and both of your trades in the cable forum and I am so grateful for the advice you're both giving. I'm trying to predict my own high-probability trades now. I spotted this tonight (around 11pm UK time). Infinity had already posted a chart that drew my attention to the trend line earlier in the evening and I noticed it was lining up with the 50 EMA in the 15M. I took the trade at 1.4254 and rode it up to 1.4310. It might carry on up but that looked like a good place to take profit.

The question...
Nice trading! Remember that the ma's are nothing more than floating support/resistance. The 15m 50ema is a highly respected ema. If I'm not in a position, I'm always watching for price when it heads to the 15m 50ema. I really like to take a trade in the opposite direction she came from when she gets to the 15m 50ema. Depending upon how long it's been since she's seen the 15m 50ema, I will play it off the price of wait for the candles to close. If I get a long candle that closes through the 15m 50ema by just a little bit, I will usually wait 20 pips higher (Meaning I'll let the next candle start open and go 20 pips further than the prior candle) then I'll go against her with a tight SL. Key area on the 15m 50ema on anyday, we clear it, go back and test it, if we can't get through it, then we're probably not done with the original movement. Close and go with her then with you SL on the other side of the 15m 50ema.

I've noticed since 2009 has started, the 50ema is respected highly on all the time frames.

Keep up the good work, have patience, and don't be afraid to take profit and wait for another trade.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #238
  • Feb 13, 2009 8:55am Feb 13, 2009 8:55am
Quoting Turtle
Nice entry, it looks like a combination of both.......

Looking at my Daily and 4HR, I got in @ 4292, took half at +50 and letting the rest ride until 4450, s/l @ +2.

Then I got a PO short with a target of 4400.

Let's see what happens....:nerd:

HOLLA
Excellent job brother!
Just digging in the trenches like everyone else!
  • #239
  • Feb 13, 2009 9:18am Feb 13, 2009 9:18am
Quoting eohater
Nice trading! Remember that the ma's are nothing more than floating support/resistance. The 15m 50ema is a highly respected ema. If I'm not in a position, I'm always watching for price when it heads to the 15m 50ema. I really like to take a trade in the opposite direction she came from when she gets to the 15m 50ema. Depending upon how long it's been since she's seen the 15m 50ema, I will play it off the price of wait for the candles to close. If I get a long candle that closes through the 15m 50ema by just a little bit, I will usually wait 20 pips...
Great explanation bro.....

HOLLA
  • #240
  • Feb 13, 2009 10:44am Feb 13, 2009 10:44am
On my 4HR and Daily..........

I know I'm done for the week!!!!

Everyone enjoy your weekend!!!!

HOLLA
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