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Trade what you see NOT what you expect

  • #421
  • Feb 27, 2009 9:16am Feb 27, 2009 9:16am
Quoting rt4x
As it is a rising price..what do we look for in terms of PA candle? I have less problem recognizing PA candle on reversal...but how about continuation like now???

BTW...I have printed most of the charts you have posted here and am studying one by one....your efforts are truly appreciated here !
I'm looking for a buy off the 15m 21ema. The higher time frames are supporting the upward movement atm, granted, this can change in a heartbeat. We're approaching the 15m 35sma/50ema and have been rejected (to be expected). Let price come back down to around the 418x area. Notice how the ma's on your 15m chart 5/10 have crossed and moving northbound. Now, longs want the 5/10 to hold price up, shorts want the 35sma/50ema to hold and push her down.
Just digging in the trenches like everyone else!
  • #422
  • Feb 27, 2009 9:16am Feb 27, 2009 9:16am
Quoting eohater
Guys, the US Session is looking to become a bullish session. Look at your 4h charts, closed candles and the bottom.
Even so, wouldn't your method call for a short with the m15 50ema rejection?
Hi, my name is Barry and you can keep your doctor...
  • #423
  • Feb 27, 2009 9:18am Feb 27, 2009 9:18am
Quoting cisco
Even so, wouldn't your method call for a short with the m15 50ema rejection?
It does if I'm not in a position. Now, I would wait for the cross over the 15m 50ema and close before going short. I do sometimes play the price of the 15m 50ema as a PO against the grain, but I'm not ready to release that setup. It has the potential of a higher draw down.
Just digging in the trenches like everyone else!
  • #424
  • Feb 27, 2009 9:21am Feb 27, 2009 9:21am
target of 4258 for longs
Just digging in the trenches like everyone else!
  • #425
  • Feb 27, 2009 9:22am Feb 27, 2009 9:22am
Quoting eohater
target of 4258 for longs
Watch this 15m candle close, the following candle will present a buy off the 15m 50ema.
Just digging in the trenches like everyone else!
  • #426
  • Feb 27, 2009 9:22am Feb 27, 2009 9:22am
Quoting eohater
It does if I'm not in a position. Now, I would wait for the cross over the 15m 50ema and close before going short. I do sometimes play the price of the 15m 50ema as a PO against the grain, but I'm not ready to release that setup. It has the potential of a higher draw down.
good call
Hi, my name is Barry and you can keep your doctor...
  • #427
  • Feb 27, 2009 9:27am Feb 27, 2009 9:27am
Hi EO,

Navin gave me a great explanation of evening stars yesterday, and I've benefitted from recognising them today. I just wondered if you could clarify a couple of points regarding this chart.

Point 1 would have been a good spot to short if I'd been up at that time - what price would you have got in at? Would you have waited for the black bar to close or got in a bit higher?

Point 2 saved me today - I was going to get out of a short at that point but the evening star convinced me to stay in. Obviously time proved me right but was I right in my thinking there?

Point 3 was an early warning that price was turning - again, where would you have got in? Would you have waited for the 2nd white bar to close (around 4165) or got in earlier? In the end I didn't take this trade as I was worried about it being at a resistance line and the 21EMA in the 15min. I got a nice short of the 50EMA a few minutes later which made up for it!!

Thanks for all your help. I really feel I'm progressing and it's entirely down to the generosity of guys like you and Navin...
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  • #428
  • Feb 27, 2009 9:37am Feb 27, 2009 9:37am
Did anyone take the short after the last 15m candle closed?
Just digging in the trenches like everyone else!
  • #429
  • Feb 27, 2009 9:39am Feb 27, 2009 9:39am
Quoting eohater
Did anyone take the short after the last 15m candle closed?
Sitting on the side at the moment - but saw it was just short of the 1H 62EMA - is that why you would short there?
  • #430
  • Feb 27, 2009 9:39am Feb 27, 2009 9:39am
Quoting eohater
Did anyone take the short after the last 15m candle closed?
If you did take it, get ready or get it covered. Watch how price reacts after this 15m candle closes.
Just digging in the trenches like everyone else!
  • #431
  • Feb 27, 2009 9:40am Feb 27, 2009 9:40am
Quoting eohater
If you did take it, get ready or get it covered. Watch how price reacts after this 15m candle closes.
I was waiting for a retracement of the 15m 50ma
  • #432
  • Feb 27, 2009 9:43am Feb 27, 2009 9:43am
Quoting MarkyBoy
Hi EO,

Navin gave me a great explanation of evening stars yesterday, and I've benefitted from recognising them today. I just wondered if you could clarify a couple of points regarding this chart.

Point 1 would have been a good spot to short if I'd been up at that time - what price would you have got in at? Would you have waited for the black bar to close or got in a bit higher?

Point 2 saved me today - I was going to get out of a short at that point but the evening star convinced me to stay in. Obviously time proved me right but was I right...
Give me some time to answer this! I need to focus on my charts ATM.
Just digging in the trenches like everyone else!
  • #433
  • Feb 27, 2009 9:44am Feb 27, 2009 9:44am
Quoting eohater
Give me some time to answer this! I need to focus on my charts ATM.
Sorry man - it's gone a bit haywire since I posted!!!!

No worries
  • #434
  • Feb 27, 2009 9:49am Feb 27, 2009 9:49am
Quoting MarkyBoy
Sitting on the side at the moment - but saw it was just short of the 1H 62EMA - is that why you would short there?
No, I would have shorted and covered quickly after the candle closed through the 15m 50ema. Notice how it was rejected and went up. I had a PO at 4265, but didn't get filled on the next candle. DAMNIT! I'm still on the sides.
Just digging in the trenches like everyone else!
  • #435
  • Feb 27, 2009 9:50am Feb 27, 2009 9:50am
Quoting rt4x
I was waiting for a retracement of the 15m 50ma
We're still sitting at the bus stop together then.
Just digging in the trenches like everyone else!
  • #436
  • Feb 27, 2009 9:51am Feb 27, 2009 9:51am
Quoting eohater
We're still sitting at the bus stop together then.
My 4h candle closes in 10 min...will see what happens then...
  • #437
  • Feb 27, 2009 9:52am Feb 27, 2009 9:52am
Quoting eohater
No, I would have shorted and covered quickly after the candle closed through the 15m 50ema. Notice how it was rejected and went up. I had a PO at 4265, but didn't get filled on the next candle. DAMNIT! I'm still on the sides.
Presumably it's been filled now?
  • #438
  • Feb 27, 2009 9:53am Feb 27, 2009 9:53am
Quoting rt4x
My 4h candle closes in 10 min...will see what happens then...
She's going to the moon!! Next stop is 434x. Notice the resistance there.
Just digging in the trenches like everyone else!
  • #439
  • Feb 27, 2009 9:53am Feb 27, 2009 9:53am
It kind of looks like London is closing out their shorts before the end of their trading day.
Hi, my name is Barry and you can keep your doctor...
  • #440
  • Feb 27, 2009 9:53am Feb 27, 2009 9:53am
Quoting MarkyBoy
Presumably it's been filled now?
NOPE!! I'm sidelined still.
Just digging in the trenches like everyone else!
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