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Trade what you see NOT what you expect

  • #841
  • Mar 4, 2009 9:14am Mar 4, 2009 9:14am
Watch price and the shelf on the 15m chart. Could only be a temporary pullback for a long position.
Just digging in the trenches like everyone else!
  • #842
  • Mar 4, 2009 9:16am Mar 4, 2009 9:16am
EO...would you have considered the 15min candle @ 9:30 est a PA reversal candle being a green pin?

Always thankful...RAQUENEL

ps. considering a long at 15 min. 21 ema...anyone? just around the 1H 62 ema...
  • #843
  • Mar 4, 2009 9:19am Mar 4, 2009 9:19am
Quoting eohater
Watch price and the shelf on the 15m chart. Could only be a temporary pullback for a long position.

Sorry...what is shelf ????
  • #844
  • Mar 4, 2009 9:19am Mar 4, 2009 9:19am
Quoting rt4x
EO...would you have considered the 15min candle @ 9:30 est a PA reversal candle being a green pin?

Always thankful...RAQUENEL

ps. considering a long at 15 min. 21 ema...anyone? just around the 1H 62 ema...
That candle is what made me take partial profit on my long position. So, yes, I would consider it an opportunity to go short, but keep the eye on the higher time frames and their movement. Right now, seems that the 1h 62 is going to come into play. Will she hold for a bounce up or just continue to fall?
Just digging in the trenches like everyone else!
  • #845
  • Mar 4, 2009 9:20am Mar 4, 2009 9:20am
Quoting rt4x
Sorry...what is shelf ????
Look on your 15m chart to the left. You can see the top of a shelf there. If you need me to post a chart, I will.
Just digging in the trenches like everyone else!
  • #846
  • Mar 4, 2009 9:27am Mar 4, 2009 9:27am
I think we're getting our answer about the 4100 area. Let's see how this 15m candle closes.
Just digging in the trenches like everyone else!
  • #847
  • Mar 4, 2009 9:31am Mar 4, 2009 9:31am
Did anyone go long after the last 15m close? Mind you, I'm already long from a lower price.
Just digging in the trenches like everyone else!
  • #848
  • Mar 4, 2009 9:35am Mar 4, 2009 9:35am
Quoting eohater
Did anyone go long after the last 15m close? Mind you, I'm already long from a lower price.
I went long on the touch of the 62ema... Already took partial profit after 15 pips and set stop to +2.. If I get stopped out I will probably wait for the hour close.. for new entry..
Patience + Discipline - Greed = Success
  • #849
  • Mar 4, 2009 9:38am Mar 4, 2009 9:38am
Quoting Infinity
I went long on the touch of the 62ema... Already took partial profit after 15 pips and set stop to +2.. If I get stopped out I will probably wait for the hour close.. for new entry..
Good play bro! I played a long off 4080 this morning after I played shorts from 4100 and couldn't break. Took some partial profit off at 4125, holding the rest at +3.
Just digging in the trenches like everyone else!
  • #850
  • Mar 4, 2009 9:40am Mar 4, 2009 9:40am
For thos who are long or took the long off the after the last 15m close, we want this 15m candle to close above 4117, idealy 4120 would be nice.
Just digging in the trenches like everyone else!
  • #851
  • Mar 4, 2009 9:41am Mar 4, 2009 9:41am
Quoting eohater
Look on your 15m chart to the left. You can see the top of a shelf there. If you need me to post a chart, I will.
Yes EO...please post when you get a chance....clueless here....
Well....got caught up in a call as I was waiting precisely for that touch of the 1H 62 ema.....I'll find a seat...I hope
  • #852
  • Mar 4, 2009 9:47am Mar 4, 2009 9:47am
Quoting eohater
For thos who are long or took the long off the after the last 15m close, we want this 15m candle to close above 4117, idealy 4120 would be nice.
Got the close we wanted. If you went long, lock in positive pips and don't be afraid to TP along the way. 4150-4160 is a HUGE WALL. Hourly candle is shaping up to be indecisive.
Just digging in the trenches like everyone else!
  • #853
  • Mar 4, 2009 9:47am Mar 4, 2009 9:47am
Quoting rt4x
Yes EO...please post when you get a chance....clueless here....
Well....got caught up in a call as I was waiting precisely for that touch of the 1H 62 ema.....I'll find a seat...I hope
Here, see if this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.PNG Size: 64 KB
Just digging in the trenches like everyone else!
  • #854
  • Mar 4, 2009 9:49am Mar 4, 2009 9:49am
Quoting eohater
Good play bro! I played a long off 4080 this morning after I played shorts from 4100 and couldn't break. Took some partial profit off at 4125, holding the rest at +3.
Excellent job bro! I was short not too long ago myself from 4144 and closed and reversed at the 62ema.. I am looking for some more profit in the same 414x area if I don't get stopped out on my remaining position...
Patience + Discipline - Greed = Success
  • #855
  • Mar 4, 2009 9:50am Mar 4, 2009 9:50am
Quoting Infinity
Excellent job bro! I was short not too long ago myself from 4144 and closed and reversed at the 62ema.. I am looking for some more profit in the same 414x area if I don't get stopped out on my remaining position...
I'm looking for some more profit myself there.
Just digging in the trenches like everyone else!
  • #856
  • Mar 4, 2009 9:53am Mar 4, 2009 9:53am
Quoting Infinity
Excellent job bro! I was short not too long ago myself from 4144 and closed and reversed at the 62ema.. I am looking for some more profit in the same 414x area if I don't get stopped out on my remaining position...
Hey bro! We've got 3 up on the 4h that closes in 8m.
Just digging in the trenches like everyone else!
  • #857
  • Mar 4, 2009 9:53am Mar 4, 2009 9:53am
Quoting eohater
Here, see if this helps.
I gather the shelf is that info box....my platform does not show it but I use x-ticks as a charting tool and that does....THANKS
  • #858
  • Mar 4, 2009 9:54am Mar 4, 2009 9:54am
Hey guys. mind if I crash the party? Lol.
Thought you guys went on a holiday.
Thank You
  • #859
  • Mar 4, 2009 9:54am Mar 4, 2009 9:54am
Quoting rt4x
Sorry...what is shelf ????
RT4x - Have a look at the attached chart. The red line there is 1.4074 which I have marked on my chart as a support/resistance point. (I use S&R in some trading and it does provide confirmation to me at least of MA S&R values)

Note: this is 15m chart (from recent but not current time).
Starting from the left (by the number 1). We approached this support value from above and the first two attempts support held, but on the 3rd attempt sellers were able to push through this point.

Now as we approach #2 and #3, this previous support value now becomes resistance. You can see several attempts to push through it from below (points 2, 3 and 4), and after several attempts at point 4, there is a pullback and a new surge that carries us through 1.4075.

Now this resistance value is back on the table as support, and we get support as you see near number 5.

From there the next value of support/resistance I had marked was 1.4150, and my charts show the high was 1.4148 before the retracement.

The challenging part is that you don't know when support/resistance will hold or not.

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: shelf.gif Size: 25 KB
  • #860
  • Mar 4, 2009 9:55am Mar 4, 2009 9:55am
Quoting rt4x
I gather the shelf is that info box....my platform does not show it but I use x-ticks as a charting tool and that does....THANKS
I drew two. The green lines show shelves that are created on the way up.
Just digging in the trenches like everyone else!
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