Trade what you see NOT what you expect | Page 249 | Forex Factory

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Trade what you see NOT what you expect

  • #4,961
  • Mar 31, 2009 3:31am Mar 31, 2009 3:31am
Quoting BenScoobert
Just to clarify, that's +3 pips? Or am I missing something? I always thought you shot for bigger goals than that.
Yep, bigger gains than 3 pips is the goal for each position. If he closed at +3, it means he either wasn't happy with the position, or the trade went against him and he got stopped at +3 pips.

Bear in mind, that Eo will normally take profit along the way, so once he reaches his TP goal, he will take some off, and leave the rest on at breakeven in case it continues, so +3 may only refer to part of his position, and the rest may have been +50.
  • #4,962
  • Mar 31, 2009 3:43am Mar 31, 2009 3:43am
this is starting to look like a textbook eo 1h 62ema setup
  • #4,963
  • Mar 31, 2009 3:44am Mar 31, 2009 3:44am
Hello, new here and see this forum is quite uesful and helpful

What is PA and PB? I know in time I'd figure it out but thought easier to ask!
  • #4,964
  • Mar 31, 2009 3:49am Mar 31, 2009 3:49am
Quoting BenScoobert
this is starting to look like a textbook eo 1h 62ema setup
Good morning folks.......

If you take the short, be careful because price has already touched the 62ema three times within the same day, so it might not bounce like it would off of a first touch or second touch.

Also your 4HR and 1HR bars are in long mode at this point in time.

HOLLA
  • #4,965
  • Mar 31, 2009 3:50am Mar 31, 2009 3:50am
Quoting currencyexch
Hello, new here and see this forum is quite uesful and helpful

What is PA and PB? I know in time I'd figure it out but thought easier to ask!
PA = Price Action

PB = Pinbar

Hope that helps

HOLLA
  • #4,966
  • Mar 31, 2009 3:51am Mar 31, 2009 3:51am
Quoting Turtle
Good morning folks.......

If you take the short, be careful because price has already touched the 62ema three times within the same day, so it might not bounce like it would off of a first touch or second touch.

HOLLA
i was thinking a sl around the days high so far, if it breaks im out
  • #4,967
  • Mar 31, 2009 3:53am Mar 31, 2009 3:53am
Quoting Turtle
Good morning folks.......

If you take the short, be careful because price has already touched the 62ema three times within the same day, so it might not bounce like it would off of a first touch or second touch.

Also your 4HR and 1HR bars are in long mode at this point in time.

HOLLA
Good points Turtle!
  • #4,968
  • Mar 31, 2009 3:55am Mar 31, 2009 3:55am
Quoting Turtle
Good morning folks.......

If you take the short, be careful because price has already touched the 62ema three times within the same day, so it might not bounce like it would off of a first touch or second touch.

Also your 4HR and 1HR bars are in long mode at this point in time.

HOLLA
that is what I'm mthinking too. A close above 62ema with 5/10smas pointing up would be a good sign for longs
  • #4,969
  • Mar 31, 2009 4:02am Mar 31, 2009 4:02am
now let's see it bounce off the 62ema for continuation north
  • #4,970
  • Mar 31, 2009 4:11am Mar 31, 2009 4:11am
Hi guys
Long from 1.4260 TP 1.44 ..........today end of month ,end of quarter.....I feel GBP could close around 1.45 .......GBP/JPY and GBP/CHF also doing good ..........Japan will have a stimulus package today ......this also a plus ......only thing need to watch EU/GBP for the ny session ........movement for GBP/$
BANDA333
  • #4,971
  • Mar 31, 2009 4:24am Mar 31, 2009 4:24am
With volume of reports today seems like an opportunity to place an OCO 15 pips either side of the then current price just prior to 8:30AM. Given the sentiment of a weak dollar but the DSX index not reflecting much weakness It;s tricky betting against dollar to long, That said the news at 8:30AM could cause it to go either way
  • #4,972
  • Mar 31, 2009 4:30am Mar 31, 2009 4:30am
I took a short @ 4330, took half at +20, move s/l to +2. Set additional targets for t/p at 4290 and 4265.

Let's see how she rolls, catch ya after 10am eastern.

HOLLA
  • #4,973
  • Mar 31, 2009 4:31am Mar 31, 2009 4:31am
Quoting ezodisy
that is what I'm mthinking too. A close above 62ema with 5/10smas pointing up would be a good sign for longs
You are right, and it knocked my confidence on my logic for that trade. So I didnt take it, then it did what I said. LOL, worse than being right on a trade is being right and not taking it. Never mind, next.

EDIT: I suppose the lesson is, the 62 is more reliable than 5 or 10.
  • #4,974
  • Mar 31, 2009 4:39am Mar 31, 2009 4:39am
Spitfire...trying to send you a PM, but not available.

Please update your profile.

HOLLA
  • #4,975
  • Mar 31, 2009 4:41am Mar 31, 2009 4:41am
Quoting FOURX
Good points Turtle!
Thanks....just trying to help others...that's all.

HOLLA
  • #4,976
  • Mar 31, 2009 4:49am Mar 31, 2009 4:49am
Good morning everyone...possible hangman on the 1H?????..another 12 min will tell:nerd:

Everything can change in 5m....also watch the close of the 4H..mine is also in 5m
  • #4,977
  • Mar 31, 2009 5:02am Mar 31, 2009 5:02am
G'day chaps. Pound seems to be doing a bit better today as Obama converts some dollars to £'s for his spending money in London. Who else would be buying it?
Ride the Bulls bearback!
  • #4,978
  • Mar 31, 2009 5:04am Mar 31, 2009 5:04am
Long anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.jpg Size: 94 KB
  • #4,979
  • Mar 31, 2009 5:08am Mar 31, 2009 5:08am
I am in there with you bud. Just be careful. She got slapped down hard in the last run...

Edit: Scratch that. Closed it for +3 I'll stay flat ahead of the news. H1 reversal and hangman on m15 is a bit nervy.

Quoting Komissar
Long anyone?
Ride the Bulls bearback!
  • #4,980
  • Mar 31, 2009 5:10am Mar 31, 2009 5:10am
Quoting Komissar
Long anyone?
Is it still considered a reversal when the wick is to the top and not to the bottom?
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