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Trade what you see NOT what you expect

  • #1,101
  • Mar 5, 2009 10:40am Mar 5, 2009 10:40am
Quoting BenScoobert
My thinking was........

We were well below the 50 and 62 H1 and i felt a rebound due to it LOOKING oversold in such a short time
Well just looking at the chart, looks like you nailed that reversal. Another thing I can see (and I think EO brought up yesterday) is that we have support (or a shelf I think EO termed it) at 4075. So seeing the reaction to the price in that area gave confirmation to a long there. Nice trade!
  • #1,102
  • Mar 5, 2009 10:40am Mar 5, 2009 10:40am
Quoting eohater
Short term trade, it's a good trade, don't be afraid to TP some profit and get yourself covered after this 15m candle closes.

Overall, I'm thinking we could still be going up higher than 4200.
I like that 4200 number...let's see if we can get there. :nerd:

HOLLA
  • #1,103
  • Mar 5, 2009 10:42am Mar 5, 2009 10:42am
Just touched my tp of 27 pips based on the H1 62ma level
  • #1,104
  • Mar 5, 2009 10:44am Mar 5, 2009 10:44am
Ben - Sorry if I came across as a pain in the arse. My thoughts on this are that I think its beneficial to post the "what I saw" when pointing out a trade you took. This will serve to educate others on the thought process/methodology, or else help EO identify things that may need some clarification. So either way it will provide benefits.

End result is more pips for everyone!
  • #1,105
  • Mar 5, 2009 10:45am Mar 5, 2009 10:45am
Quoting BenScoobert
Just touched my tp of 27 pips based on the H1 62ma level
lol just realised i misread the 62, but hey it worked
  • #1,106
  • Mar 5, 2009 10:48am Mar 5, 2009 10:48am
Quoting nyjetfan
Ben - Sorry if I came across as a pain in the arse. My thoughts on this are that I think its beneficial to post the "what I saw" when pointing out a trade you took. This will serve to educate others on the thought process/methodology, or else help EO identify things that may need some clarification. So either way it will provide benefits.

End result is more pips for everyone!
I think you are absolutly right, but if i see something, dont follow me, i got lucky :-)

Right now I see nothing, i dont see where EO gets his thought it could go to 4200, does anyone else see it?
  • #1,107
  • Mar 5, 2009 10:51am Mar 5, 2009 10:51am
Quoting BenScoobert
I think you are absolutly right, but if i see something, dont follow me, i got lucky :-)

Right now I see nothing, i dont see where EO gets his thought it could go to 4200, does anyone else see it?
yes there is good resistance there on the 1hr and 4hr charts
please DON'T copy my trades I am still learning
  • #1,108
  • Mar 5, 2009 10:53am Mar 5, 2009 10:53am
Quoting Turtle
I like that 4200 number...let's see if we can get there. :nerd:

HOLLA
Hey brother! I bet you'll like this number then, 426x. That's where I see we could eventually head towards. I would like to see another test of the lows, but might not get it.
Just digging in the trenches like everyone else!
  • #1,109
  • Mar 5, 2009 10:54am Mar 5, 2009 10:54am
Quoting ezmystic
yes there is good resistance there on the 1hr and 4hr charts
But when I look at the daily chart its trending so much south for me to see it at 4200 today
  • #1,110
  • Mar 5, 2009 10:55am Mar 5, 2009 10:55am
Quoting eohater
Hey brother! I bet you'll like this number then, 426x. That's where I see we could eventually head towards. I would like to see another test of the lows, but might not get it.
Edit that, we're getting ready for that move. Notice the rejection again on the 15m. The long upper wicks show it. She's getting pushed down by sellers coming back into the market.
Just digging in the trenches like everyone else!
  • #1,111
  • Mar 5, 2009 10:56am Mar 5, 2009 10:56am
Quoting BenScoobert
But when I look at the daily chart its trending so much south for me to see it at 4200 today
Since yesterday's US Close, she went higher than yesterday's US high, but has not made a new low.
Just digging in the trenches like everyone else!
  • #1,112
  • Mar 5, 2009 11:03am Mar 5, 2009 11:03am
1.420X level top of triangle range and price bouncing off fib and s/r levels.. I think ...

Ken
Attached Image (click to enlarge)
Click to Enlarge Name: 1 hr fib levels and triangle 4200 level.JPG Size: 168 KB
Good Trading To All ; Ken Lee
  • #1,113
  • Mar 5, 2009 11:08am Mar 5, 2009 11:08am
Quoting eohater
Hey brother! I bet you'll like this number then, 426x. That's where I see we could eventually head towards. I would like to see another test of the lows, but might not get it.
You are correct bro.......

4200....4250.....etc....etc

She been banging on that 4000 area since Monday with no real push down, which tells me sellers are getting tired, but in FX.....anything can happen.

HOLLA
  • #1,114
  • Mar 5, 2009 11:15am Mar 5, 2009 11:15am
Quoting eohater
Hey brother! I bet you'll like this number then, 426x. That's where I see we could eventually head towards. I would like to see another test of the lows, but might not get it.
Perhaps it is the hourly channel that is leading us to TP
Attached Image (click to enlarge)
Click to Enlarge Name: hourly channel.gif Size: 21 KB
  • #1,115
  • Mar 5, 2009 11:25am Mar 5, 2009 11:25am
Contamplating a short anyone...with two long wicks touching 50sma on 15 min and being rejected???
  • #1,116
  • Mar 5, 2009 11:26am Mar 5, 2009 11:26am
I took a small short 30 mins ago, now shes been teasing me
  • #1,117
  • Mar 5, 2009 11:30am Mar 5, 2009 11:30am
When the EMAs are flat even on the 1 minute chart, I think it's time to step back, unless you're already in a trade.
  • #1,118
  • Mar 5, 2009 11:34am Mar 5, 2009 11:34am
Quoting BenScoobert
I took a small short 30 mins ago, now shes been teasing me
If you want to see the market drop, close your short position.. That works almost every time for me...
  • #1,119
  • Mar 5, 2009 11:38am Mar 5, 2009 11:38am
Quoting nyjetfan
If you want to see the market drop, close your short position.. That works almost every time for me...
tell me about it, I could bring nations to their knees just by placing a small trade
  • #1,120
  • Mar 5, 2009 12:00pm Mar 5, 2009 12:00pm
Charts look messy today.....
Patience + Discipline - Greed = Success
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