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Trade what you see NOT what you expect

  • #4,921
  • Mar 30, 2009 3:49pm Mar 30, 2009 3:49pm
Evening all.

When the price action shows a possible reversal does anyone look to a smaller t/f for confirmation and entry point?

For instance, When looking at a hangman on the 15m, the following candle will retrace back up the wick before a change of direction, when looking on the 5m t/f the same price action is genrally visible but higher up the wick. Would this not be better for an entry point? Not giving as many pips away.
Flyin' by the seat of my pants.......Talk to me Goose.
  • #4,922
  • Mar 30, 2009 3:52pm Mar 30, 2009 3:52pm
Quoting PippiNole
Hey Eo, how is your day going?
It's been busier than all get out today. Pip basket is going good though. How about yourself?
Just digging in the trenches like everyone else!
  • #4,923
  • Mar 30, 2009 3:53pm Mar 30, 2009 3:53pm
Quoting eohater
It's been busier than all get out today. Pip basket is going good though. How about yourself?
Doing pretty well here.
  • #4,924
  • Mar 30, 2009 3:54pm Mar 30, 2009 3:54pm
Quoting Maver1ck
Evening all.

When the price action shows a possible reversal does anyone look to a smaller t/f for confirmation and entry point?

For instance, When looking at a hangman on the 15m, the following candle will retrace back up the wick before a change of direction, when looking on the 5m t/f the same price action is genrally visible but higher up the wick. Would this not be better for an entry point? Not giving as many pips away.
The lowest time frame I look at is 15m. I know some who do go down to the 5m and find some great success with it.
Just digging in the trenches like everyone else!
  • #4,925
  • Mar 30, 2009 3:57pm Mar 30, 2009 3:57pm
Quoting eohater
It's been busier than all get out today. Pip basket is going good though. How about yourself?
EO, may I remind you about your morning forecast, that "can see it at 4020".
Cisco also saw it around 4039.
I understand that market unpredictable, but there was no major news today, exept changing GM CEO. And now GU is around 4275.
I am not complayning, just trying to understand what switch was turned.
Thanks, guys.

P. S. Is anybody looking for short atm?
  • #4,926
  • Mar 30, 2009 4:08pm Mar 30, 2009 4:08pm
Quoting Komissar
EO, may I remind you about your morning forecast, that "can see it at 4020".
Cisco also saw it around 4039.
I understand that market unpredictable, but there was no major news today, exept changing GM CEO. And now GU is around 4275.
I am not complayning, just trying to understand what switch was turned.
Thanks, guys.

P. S. Is anybody looking for short atm?
You can remind, I do remember saying that this morning. I could see that area as a possiblity today. Unfortunately, the candles said otherwise. I've taken shorts and longs throughout the US Session today. The h1 hammer was just too strong for us to get under, along with the trendline on the h4. I don't see that price as a target now, considering how our daily candle is going to close.
Just digging in the trenches like everyone else!
  • #4,927
  • Mar 30, 2009 4:15pm Mar 30, 2009 4:15pm
Quoting eohater
You can remind, I do remember saying that this morning. I could see that area as a possiblity today. Unfortunately, the candles said otherwise. I've taken shorts and longs throughout the US Session today. The h1 hammer was just too strong for us to get under, along with the trendline on the h4. I don't see that price as a target now, considering how our daily candle is going to close.
I've got it, thnaks.
But as I understood you are still considering shorts from 1H 62ma and 15M 200ma, right? Or, considering this hangman on daily chart, shorts are not on you horizon now?
I am not trying to follow your trades.
I am trying to understand why you made these trades.
Based on daily pin, I would say "Longs only", but you mentioned bounce off 1H 62ma before.
  • #4,928
  • Mar 30, 2009 4:18pm Mar 30, 2009 4:18pm
Quoting Komissar
I've got it, thnaks.
But as I understood you are still considering shorts from 1H 62ma and 15M 200ma, right? Or, considering this hangman on daily chart, shorts are not on you horizon now?
Shorts are still a possiblity for me. Remember, we go both ways with her.
Just digging in the trenches like everyone else!
  • #4,929
  • Mar 30, 2009 4:21pm Mar 30, 2009 4:21pm
Quoting eohater
The lowest time frame I look at is 15m. I know some who do go down to the 5m and find some great success with it.


Ok, Thanks Eo.
Flyin' by the seat of my pants.......Talk to me Goose.
  • #4,930
  • Mar 30, 2009 4:25pm Mar 30, 2009 4:25pm
Quoting Komissar
EO, may I remind you about your morning forecast, that "can see it at 4020".
Cisco also saw it around 4039.
I understand that market unpredictable, but there was no major news today, exept changing GM CEO. And now GU is around 4275.
I am not complayning, just trying to understand what switch was turned.
Thanks, guys.

P. S. Is anybody looking for short atm?
I know EO has already answered you, but since I saw my name I'd like to say something. Today's trading and tomorrow's are the last two days of the month and quarter. Crazy shit happens during these times. Big funds and banks are squaring positions up for the start of a new quarter. Tomorrow's action might make even less sense, so be careful.
Hi, my name is Barry and you can keep your doctor...
  • #4,931
  • Mar 30, 2009 4:32pm Mar 30, 2009 4:32pm
Quoting cisco
I know EO has already answered you, but since I saw my name I'd like to say something. Today's trading and tomorrow's are the last two days of the month and quarter. Crazy shit happens during these times. Big funds and banks are squaring positions up for the start of a new quarter. Tomorrow's action might make even less sense, so be careful.

is there one of it still?????
  • #4,932
  • Mar 30, 2009 4:34pm Mar 30, 2009 4:34pm
Quoting cesarg
is there one of it still?????


Cisco, thank you, mate!
  • #4,933
  • Mar 30, 2009 4:38pm Mar 30, 2009 4:38pm
I'm outta here for a while guys. Cover your positions and take profit when it's given. I'll be back on tonight.

EO
Just digging in the trenches like everyone else!
  • #4,934
  • Mar 30, 2009 5:02pm Mar 30, 2009 5:02pm
If u were trading what u see and are truly unbiased then direction does not matter.

I don't think this signal gets much planer then this. Perhaps someone could write a code and make the indicator candle a neon flashing light when it closes.
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  • #4,935
  • Mar 30, 2009 6:36pm Mar 30, 2009 6:36pm
I see my long got closed out after hitting my 3rd tp area of 4220 then taking out the remainder of my position +2.. I did not get to re-enter at the lows as I was on the road for most of the day... I hope everyone made good pips...
Patience + Discipline - Greed = Success
  • #4,936
  • Mar 30, 2009 7:18pm Mar 30, 2009 7:18pm
Hay Ken Lee....

I was thinking the 50sma held as support and this was one of those 35/50 cross and reverses, with a higher low set-up. When the next candle opened and turned up I would of pulled the trigger.....if i wasn't out in the yard on break!
  • #4,937
  • Mar 30, 2009 10:19pm Mar 30, 2009 10:19pm
Quoting KENNETH lEE
The way I understanded is the 35/50 cross reversal trade is when one candle goes through them both then you trade on the open of the next candle in opposite direction..
So that down candle needed to close below the 50sma first for it to be a 35/50 cross?
  • #4,938
  • Mar 31, 2009 1:40am Mar 31, 2009 1:40am
Good Evening or good morning depending upon where you at!
Just digging in the trenches like everyone else!
  • #4,939
  • Mar 31, 2009 1:57am Mar 31, 2009 1:57am
Quoting eohater
Good Evening or good morning depending upon where you at!
Morning EO.
  • #4,940
  • Mar 31, 2009 2:05am Mar 31, 2009 2:05am
I hope you guys got in on this short. I just had two of my TP's hit on my position and have a small part sill open.
Just digging in the trenches like everyone else!
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