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Trade what you see NOT what you expect

  • #361
  • Feb 26, 2009 9:42am Feb 26, 2009 9:42am
Quoting eohater
Here's the chart where I went long. Just got stopped out as I type.
Based on previous analysis I have seen u post...wouldn't you have waited for the confirmation candle to clear the PA candle body and wick so you would go long....please forgive my confusion?
  • #362
  • Feb 26, 2009 9:45am Feb 26, 2009 9:45am
Quoting rt4x
Based on previous analysis I have seen u post...wouldn't you have waited for the confirmation candle to clear the PA candle body and wick so you would go long....please forgive my confusion?
Are you talking about my 3 pip winner from earlier? If you are, no, I don't want a candle to close below the prior PA candle. A close below the bottom of the wick, takes that PA candle out of play. Just like the 1h PA candle I showed yesterday for support of the long movement with SL below 4150. If that 1h candle get's taken out, meaning a close below the wick, then she's moving southbound.
Just digging in the trenches like everyone else!
  • #363
  • Feb 26, 2009 9:46am Feb 26, 2009 9:46am
1h 50sma is providing some strong resistance atm. The 1h 50sma has been a major player all year. Let's see if we can clear it.
Just digging in the trenches like everyone else!
  • #364
  • Feb 26, 2009 9:51am Feb 26, 2009 9:51am
Quoting eohater
Are you talking about my 3 pip winner from earlier? If you are, no, I don't want a candle to close below the prior PA candle. A close below the bottom of the wick, takes that PA candle out of play. Just like the 1h PA candle I showed yesterday for support of the long movement with SL below 4150. If that 1h candle get's taken out, meaning a close below the wick, then she's moving southbound.
So when you mean on the chart that it did not clear the PA candle you mean that this particular bullish candle never went below the wick of the PA candle...i was understanding that the closing of that bullish candle had to clear the TOP of the PA candle and close above its body and wick !!!
  • #365
  • Feb 26, 2009 9:53am Feb 26, 2009 9:53am
Quoting eohater
1h 50sma is providing some strong resistance atm. The 1h 50sma has been a major player all year. Let's see if we can clear it.
If we close above it...do you consider a buy then...or wait for retracement on 15 min to touch 5/10 emas?
  • #366
  • Feb 26, 2009 9:54am Feb 26, 2009 9:54am
Quoting rt4x
So when you mean on the chart that it did not clear the PA candle you mean that this particular bullish candle never went below the wick of the PA candle...i was understanding that the closing of that bullish candle had to clear the TOP of the PA candle and close above its body and wick !!!
Some do trade them that way. They call this waiting for confirmation. I'm willing to take the trade earlier, same SL is in play whether you take it early or after confirmation.
Just digging in the trenches like everyone else!
  • #367
  • Feb 26, 2009 9:56am Feb 26, 2009 9:56am
Quoting rt4x
If we close above it...do you consider a buy then...or wait for retracement on 15 min to touch 5/10 emas?
Wait for a retracement.
Just digging in the trenches like everyone else!
  • #368
  • Feb 26, 2009 10:03am Feb 26, 2009 10:03am
Easy on the trigger fingers. I'm not sold on a long at this point, might be considering a short. If we get tweezers on the 15m, then short it will be.
Just digging in the trenches like everyone else!
  • #369
  • Feb 26, 2009 10:12am Feb 26, 2009 10:12am
Long from 4345, took the bounce off the 15m 10ema. SL is below the 15 21ema.
Just digging in the trenches like everyone else!
  • #370
  • Feb 26, 2009 10:16am Feb 26, 2009 10:16am
Quoting eohater
Long from 4345, took the bounce off the 15m 10ema. SL is below the 15 21ema.
SL at +3, I don't like the last two 15m candles close. A short here with SL over 4390 would be a good trade.
Just digging in the trenches like everyone else!
  • #371
  • Feb 26, 2009 10:23am Feb 26, 2009 10:23am
Shorts are coming into play. My long is probably going to get taken out, another damn +3. Oh well!
Just digging in the trenches like everyone else!
  • #372
  • Feb 26, 2009 10:25am Feb 26, 2009 10:25am
Becareful everyone! It's being rejected from both directions.
Just digging in the trenches like everyone else!
  • #373
  • Feb 26, 2009 10:26am Feb 26, 2009 10:26am
Quoting eohater
Becareful everyone! It's being rejected from both directions.
It's ping pong time !!!
  • #374
  • Feb 26, 2009 10:28am Feb 26, 2009 10:28am
Quoting rt4x
It's ping pong time !!!
Not yet! It's appearing to be running out of steam for the northbound run. The upper time frame charts support the selling pressure at this price. Look at your 1h and 4h charts and tell me if you can see it.
Just digging in the trenches like everyone else!
  • #375
  • Feb 26, 2009 10:32am Feb 26, 2009 10:32am
Quoting eohater
Not yet! It's appearing to be running out of steam for the northbound run. The upper time frame charts support the selling pressure at this price. Look at your 1h and 4h charts and tell me if you can see it.
Well..the 4H has bounced off the 50 ema on both candles....and the 1H did not close above the 50 sma and bounced off the 150...looking quite doji (indecision candle).....tell me....am i off ????
  • #376
  • Feb 26, 2009 10:37am Feb 26, 2009 10:37am
Quoting rt4x
Well..the 4H has bounced off the 50 ema on both candles....and the 1H did not close above the 50 sma and bounced off the 150...looking quite doji (indecision candle).....tell me....am i off ????
Very good! As well, on the 15m chart, we have wicks on the top. Many factors supporting the downward pressure, now, the question is, will it last or just simple profit taking before US lunch.
Just digging in the trenches like everyone else!
  • #377
  • Feb 26, 2009 10:40am Feb 26, 2009 10:40am
Quoting eohater
Very good! As well, on the 15m chart, we have wicks on the top. Many factors supporting the downward pressure, now, the question is, will it last or just simple profit taking before US lunch.
Great....hopefully soon i will be kicking a.. bagging pips like you....always thankful for your insight....
  • #378
  • Feb 26, 2009 10:43am Feb 26, 2009 10:43am
Short now from 4359.
Just digging in the trenches like everyone else!
  • #379
  • Feb 26, 2009 10:49am Feb 26, 2009 10:49am
Quoting eohater
Short now from 4359.
Great entry bro! ... and great job with this thread...

I have'nt traded since NY open... I did quite a few trades last night during Asia and London sessions..

Shorts definitely look better at this pont based on what I am seeing so far...
Patience + Discipline - Greed = Success
  • #380
  • Feb 26, 2009 10:49am Feb 26, 2009 10:49am
Quoting eohater
Short now from 4359.
Nice bro...

I had a short from 4355 at 11:18am, took 13 pips profit and moved s/l @ +2.

She came back and got me.........next seat please.

Love to see a break of 4300 going short and 4400 going long.

HOLLA
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