Trade what you see NOT what you expect | Page 195 | Forex Factory

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Trade what you see NOT what you expect

  • #3,881
  • Mar 25, 2009 8:47am Mar 25, 2009 8:47am
Quoting Infinity
Excellent job bro! I only got in a few scalps before I went to bed last night. I was really tired.. I closed part of my long at 4600 but some still open...

We lost the game by 4 goals to 1 ... I scored the goal for my losing team.. but it was still a loss... It was a good workout though...

Yes.. I see that buyers are in this area as well..
Hey Infinity you were offside by a mile!
  • #3,882
  • Mar 25, 2009 8:51am Mar 25, 2009 8:51am
Quoting FOURX
hey EO,

Any chance when you have time you can answer this question from ealier?

cheers
Sure, this is where you need to have your eyes on the prior PA and Support/Resistance levels. When a candle closes out with a small wick on prior PA or s/r. The candle has exhausted itself at that point and buyers and sellers are ready to change positions. Now, if it's in the middle of a run to s/r or prior PA, then it's not time to reverse and go the other way. These are delicate trades. Now, like the example I showed yesterday with the full body candle that closed through the 15m 35/50 with a small wick and go back against the grain, these are not so delicate. These call for the reverse order with SL of 35. I hope this answers your question and doesn't confuse you more.
Just digging in the trenches like everyone else!
  • #3,883
  • Mar 25, 2009 8:55am Mar 25, 2009 8:55am
Morning EO,
New 2 your thread..been on the sidlines watching. Getting trades but not with any great consistency. Hope to improve on that. U posted a chart yesterday showing a candle as the "driver"..can u plz explain why it is.
  • #3,884
  • Mar 25, 2009 8:56am Mar 25, 2009 8:56am
Quoting eohater
Sure, this is where you need to have your eyes on the prior PA and Support/Resistance levels....
Thanks, which one did you highlight yesterday?, i'll have a look back
  • #3,885
  • Mar 25, 2009 8:57am Mar 25, 2009 8:57am
long from 4584 watching 15m for the reverse
  • #3,886
  • Mar 25, 2009 8:57am Mar 25, 2009 8:57am
Quoting eohater
Sorry for the loss, but good job on the goal! That's one hell of a workout I bet.

Your holding shorts currently from 4600? or some longs still from 4550?
I did'nt short at 4600 I am still long from 4550...

Quoting FOURX
Hey Infinity you were offside by a mile!
Patience + Discipline - Greed = Success
  • #3,887
  • Mar 25, 2009 8:59am Mar 25, 2009 8:59am
What's happening,
Patience + Discipline - Greed = Success
  • #3,888
  • Mar 25, 2009 9:00am Mar 25, 2009 9:00am
Quoting Infinity
What's happening,
I just banked 100 that's what just happened!
Just digging in the trenches like everyone else!
  • #3,889
  • Mar 25, 2009 9:00am Mar 25, 2009 9:00am
holy shit hahaha
  • #3,890
  • Mar 25, 2009 9:01am Mar 25, 2009 9:01am
14:00 GBP/USD: Soars on Geithner"s Comment on SDR London, March 25. Cable has leapt to a European afternoon/NY session high of 1.4687 on the back of US Treasury Secretary Timothy Geithner"s Reuters-reported comment that he is "quite open" to China"s suggestion of moving towards an SDR-linked currency system. This was touted by the Chinese Central Bank Governor earlier this week (Monday). [email protected]
  • #3,891
  • Mar 25, 2009 9:05am Mar 25, 2009 9:05am
Quoting kalparker
14:00 GBP/USD: Soars on Geithner"s Comment on SDR London, March 25. Cable has leapt to a European afternoon/NY session high of 1.4687 on the back of US Treasury Secretary Timothy Geithner"s Reuters-reported comment that he is "quite open" to China"s suggestion of moving towards an SDR-linked currency system. This was touted by the Chinese Central Bank Governor earlier this week (Monday). [email protected]
So...is that to say the USD would no longer be the world's reserve currency....??
  • #3,892
  • Mar 25, 2009 9:05am Mar 25, 2009 9:05am
great stuff. I've banked and am out. Nice going guys. I'm off now so have a great afternoon
  • #3,893
  • Mar 25, 2009 9:05am Mar 25, 2009 9:05am
Quoting eohater
I just banked 100 that's what just happened!
I took some profit at 4720 but still have some running... pa over news anyday I'd say
Patience + Discipline - Greed = Success
  • #3,894
  • Mar 25, 2009 9:05am Mar 25, 2009 9:05am
Quoting Infinity
I did'nt short at 4600 I am still long from 4550...


Shit yeah bro! I have longs myself from 4575, took 100 off, rest is covered at +25. I'll add to her if we get back to 465x
Just digging in the trenches like everyone else!
  • #3,895
  • Mar 25, 2009 9:07am Mar 25, 2009 9:07am
Quoting eohater
Shit yeah bro! I have longs myself from 4575, took 100 off, rest is covered at +25. I'll add to her if we get back to 465x
Added more soldiers at 4656. March baby march!!
Just digging in the trenches like everyone else!
  • #3,896
  • Mar 25, 2009 9:10am Mar 25, 2009 9:10am
Quoting eohater
Added more soldiers at 4656. March baby march!!
Patience + Discipline - Greed = Success
  • #3,897
  • Mar 25, 2009 9:13am Mar 25, 2009 9:13am
Quoting Infinity
Some unbelievable spreads popping up on ibfx...
Patience + Discipline - Greed = Success
  • #3,898
  • Mar 25, 2009 9:17am Mar 25, 2009 9:17am
Quoting Infinity
Some unbelievable spreads popping up on ibfx...
Same on mbtrading....I've seen 30 pips spreads and negative spreads....
Just digging in the trenches like everyone else!
  • #3,899
  • Mar 25, 2009 9:18am Mar 25, 2009 9:18am
The difference in prices on my broker feeds are absolutely crazy right now..
Patience + Discipline - Greed = Success
  • #3,900
  • Mar 25, 2009 9:19am Mar 25, 2009 9:19am
Its really volatile, moving so fast in such little time. Below are two comments i noticed for the drop

14:19 EUR/USD: Geithner Talks USD Up As Reserve Currency London, March 25th. Geithner is clarifying his recent comments, with the Tres Sec reinforcing the Dollar as the world"s reserve currency and saying it is "likely to remain so" for some time. EUR/USD dropped to 1.3500 on the news but dip buyers have already pushed the pair back above 1.3550. Above the 1.3678 highs from yesterday and a return to the 1.37s will be eyed. [email protected]

14:11 GBP/USD: Helped Off 1.4732 by Geithner "Clarification" Mutter London, March 25. Cable has been helped off an intra-day high of 1.4732 by mutter that US Treasury Secretary Timothy Geithner may seek to clarify his Reuters-reported comment that he is "quite open" to China"s suggestion of moving towards an SDR- linked currency system. The USD took a big hit on the back of that comment, with GBP/USD leaping from 1.4577. [email protected]
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