Trade what you see NOT what you expect | Page 220 | Forex Factory

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Trade what you see NOT what you expect

  • #4,381
  • Mar 27, 2009 7:17am Mar 27, 2009 7:17am
Quoting davids
You are correct I am getting my hammers and hangmen confused
No problem, buddy.
I didn't take that short myself, and it dropped from 4322 to 4285.
Then I saw inverted hangman/hummer on 1H, and took long at 4295, then locked it BE+4, and couple min later it was stopped!
I'll stay on a side and wait for clear signal.
  • #4,382
  • Mar 27, 2009 7:20am Mar 27, 2009 7:20am
Quoting pmn100
Concerning the 15m chart below. I was expecting the first circled candle to signal a reversal, but price continued south. The next circled candle, which I believe is an inverted hangman, did result in a reversal.

Can anyone tell me the difference in psychology between these two candles and why one should have resulted in a reversal, and not the other? What's the process for trading these candles as they seem to have questionable reliability to me?

Pattern Explanation

: Market is characterized by downtrend. The upper shadow should be at least two times the length of the body. The real body is at the lower end of the trading range. There should be no lower shadow or a very small lower shadow.

The Inverted Hammer tells us that the market opened near its low, then strongly rallied and finally backed off to close near the opening. Inverted Hammer is a bottom reversal candlestick.



Important Points

: Bullish verification on the day following the inverted hammer is required.This verification can be in the form of the next day opening above the inverted hammer’s real body. The larger the gap the stronger the confirmation will be.

DAY = Meaning Candle
Good Trading To All ; Ken Lee
  • #4,383
  • Mar 27, 2009 7:22am Mar 27, 2009 7:22am
seems to be a bit flat
please DON'T copy my trades I am still learning
  • #4,384
  • Mar 27, 2009 7:31am Mar 27, 2009 7:31am
She's wipping around today......it's Friday and close to the end of the month.

I'm looking for a short above the 4380 -4410 area, got an alarm set.

On the sides until that develops......

HOLLA
  • #4,385
  • Mar 27, 2009 7:34am Mar 27, 2009 7:34am
long from 4326
please DON'T copy my trades I am still learning
  • #4,386
  • Mar 27, 2009 7:42am Mar 27, 2009 7:42am
I was long at 4319 again but am not staying the distance to 4350 or whatever. Out for the weekend. Great trading again chaps and we'll meet again Monday morning
  • #4,387
  • Mar 27, 2009 7:49am Mar 27, 2009 7:49am
Quoting ezodisy
I was long at 4319 again but am not staying the distance to 4350 or whatever. Out for the weekend. Great trading again chaps and we'll meet again Monday morning
see ya, have a good one mate
please DON'T copy my trades I am still learning
  • #4,388
  • Mar 27, 2009 7:50am Mar 27, 2009 7:50am
Quoting ezmystic
long from 4326
May I ask: what setup trigerred your long?
Thanks
  • #4,389
  • Mar 27, 2009 8:04am Mar 27, 2009 8:04am
Quoting Komissar
May I ask: what setup trigerred your long?
Thanks
here....
Attached Image (click to enlarge)
Click to Enlarge Name: charrt 11.JPG Size: 68 KB
please DON'T copy my trades I am still learning
  • #4,390
  • Mar 27, 2009 8:21am Mar 27, 2009 8:21am
Good Morning everyone! It's Freaky Friday!
Just digging in the trenches like everyone else!
  • #4,391
  • Mar 27, 2009 8:21am Mar 27, 2009 8:21am
Quoting Komissar
No problem, buddy.
I didn't take that short myself, and it dropped from 4322 to 4285.
Then I saw inverted hangman/hummer on 1H, and took long at 4295, then locked it BE+4, and couple min later it was stopped!
I'll stay on a side and wait for clear signal.
I got out with +7 could have been worse,

I need to go and relook at my candlesticks lol
  • #4,392
  • Mar 27, 2009 8:22am Mar 27, 2009 8:22am
Quoting eohater
Good Morning everyone! It's Freaky Friday!
Afternoon Eo
  • #4,393
  • Mar 27, 2009 8:25am Mar 27, 2009 8:25am
Guys I am out of here enjoy your weekend I am off to Barcelona with the new girlfriend
  • #4,394
  • Mar 27, 2009 8:26am Mar 27, 2009 8:26am
Quoting eohater
Good Morning everyone! It's Freaky Friday!
alright eo, had a couple of good ones today and some stop outs.

hope you are well
please DON'T copy my trades I am still learning
  • #4,395
  • Mar 27, 2009 8:28am Mar 27, 2009 8:28am
Quoting davids
Guys I am out of here enjoy your weekend I am off to Barcelona with the new girlfriend
see ya david, have a good one
please DON'T copy my trades I am still learning
  • #4,396
  • Mar 27, 2009 8:28am Mar 27, 2009 8:28am
Quoting ezmystic
alright eo, had a couple of good ones today and some stop outs.

hope you are well
Everything is good here! Glad to hear you've had some good trades so far. Now, it's time to add to the pip basket.
Just digging in the trenches like everyone else!
  • #4,397
  • Mar 27, 2009 8:29am Mar 27, 2009 8:29am
Quoting davids
Guys I am out of here enjoy your weekend I am off to Barcelona with the new girlfriend
Enjoy!
Just digging in the trenches like everyone else!
  • #4,398
  • Mar 27, 2009 8:30am Mar 27, 2009 8:30am
Quoting davids
Guys I am out of here enjoy your weekend I am off to Barcelona with the new girlfriend
Life is good to you: green pips - new girlfriend - Barcelona.
Enjoy it man!
  • #4,399
  • Mar 27, 2009 8:32am Mar 27, 2009 8:32am
Quoting eohater
Enjoy!
Thanks Eo
  • #4,400
  • Mar 27, 2009 8:32am Mar 27, 2009 8:32am
Quoting Komissar
Life is good to you: green pips - new girlfriend - Barcelona.
Enjoy it man!
Cheers Mate
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