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Trade what you see NOT what you expect

  • #4,981
  • Mar 31, 2009 7:12am Mar 31, 2009 7:12am
Quoting rt4x
Is it still considered a reversal when the wick is to the top and not to the bottom?
I was seeing wick to the bottom?
  • #4,982
  • Mar 31, 2009 7:15am Mar 31, 2009 7:15am
Quoting currencyexch
I was seeing wick to the bottom?
I'm sorry...i was referring to Komissar's chart...the circled candle with a small body and a LONG wick on top...
  • #4,983
  • Mar 31, 2009 7:16am Mar 31, 2009 7:16am
Looking at the true PA we have had 3 strong selloff's at the 14330 level plus some continuation. 2 reasonably strong buy's so far. My bias is to short the slapper near the 14330 or buy lower after news and NY open. One of those m15 north spikes saw some severe rejection.

Quoting rt4x
Is it still considered a reversal when the wick is to the top and not to the bottom?
Ride the Bulls bearback!
  • #4,984
  • Mar 31, 2009 7:17am Mar 31, 2009 7:17am
Quoting alcando
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.
Morning/Afternoon Al.
I am on a side too. I don't trust the b..ch!

rt4x and currencyexch.
Guys, this candle is inverted.
Check posts # 4635, 4636, 4637 and 4638.
Mr. Ken Lee did a great job about hangmans/hummers/pins.
  • #4,985
  • Mar 31, 2009 7:18am Mar 31, 2009 7:18am
Quoting alcando
Looking at the true PA we have had 3 strong selloff's at the 14330 level plus some continuation. 2 reasonably strong buy's so far. My bias is to short the slapper near the 14330 or buy lower after news and NY open. One of those m15 north spikes saw some severe rejection.
Agreed...waiting for US open myself....many GREEN pips to you !
  • #4,986
  • Mar 31, 2009 7:20am Mar 31, 2009 7:20am
Quoting rt4x
Is it still considered a reversal when the wick is to the top and not to the bottom?
yes it is

http://www.trending123.com/patterns/...t-Pattern.html
  • #4,987
  • Mar 31, 2009 7:21am Mar 31, 2009 7:21am
Leaning to the short side seeing Lower highs but ifffy seeing higher lows but planning trading into reports both sides
  • #4,988
  • Mar 31, 2009 7:22am Mar 31, 2009 7:22am
just to throw out there for those who traded it like me. the former neckline of H4 head and shoulders comes in at 4390-4410 this area a could be a good area to sell from today depending on PA if we make it up there...im still bias long at this point and will trade the way up if we go and take profit on the test of this area...if we break through it then ill look to grab another entry on a retest if it holds. well thats my plan for today time to see if it works out.
  • #4,989
  • Mar 31, 2009 7:34am Mar 31, 2009 7:34am
Komissar and Dariuske...thanks for your help....it is a great feeling to be in this thread and to constantly see the help from one to the other with no other intention in mind then to help someone...even the senior, more experienced members share their knowledge with no pride...NEVER putting down people..and this is truly a fine deed...
  • #4,990
  • Mar 31, 2009 7:37am Mar 31, 2009 7:37am
Morning troops. Just a reminder. This is the last day of the quarter and month. You may well see some crazy stuff going on in pa. Nothing says you have to make a trade just because the market is open.

I'm going to take the day off and enjoy the beautiful spring weather. Good luck.
Hi, my name is Barry and you can keep your doctor...
  • #4,991
  • Mar 31, 2009 7:47am Mar 31, 2009 7:47am
Quoting rt4x
Komissar and Dariuske...thanks for your help....it is a great feeling to be in this thread and to constantly see the help from one to the other with no other intention in mind then to help someone...even the senior, more experienced members share their knowledge with no pride...NEVER putting down people..and this is truly a fine deed...

You're welcome.

Just closed the trade for 20 green ones.

Have to admit i was cautious. When one of the following candles would have closed below MA 50, i would have bailed out.
  • #4,992
  • Mar 31, 2009 7:49am Mar 31, 2009 7:49am
Quoting cisco
Morning troops. Just a reminder. This is the last day of the quarter and month. You may well see some crazy stuff going on in pa. Nothing says you have to make a trade just because the market is open.

I'm going to take the day off and enjoy the beautiful spring weather. Good luck.
I hear you cisco!

Going to enjoy the weather myself once the wife gets home.

Take care.
  • #4,993
  • Mar 31, 2009 7:51am Mar 31, 2009 7:51am
I am still considering GU in retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.jpg Size: 119 KB
  • #4,994
  • Mar 31, 2009 7:54am Mar 31, 2009 7:54am
Good Morning EO
  • #4,995
  • Mar 31, 2009 8:02am Mar 31, 2009 8:02am
I also agree with you premise. I want to short around 1.45 .........I think tomorrow and Friday GBP can depreciate ..........I don't think this appreciation of GBP is sustainable ..........fundamentals will rule from tomorrow........ G20 will not have a joint consensus........now puting a very tight SL on the long to walk with little......




Quoting Komissar
I am still considering GU in retracement.
BANDA333
  • #4,996
  • Mar 31, 2009 8:08am Mar 31, 2009 8:08am
She has been slapped down 3 or 4 times today around the 4335 area. If the 62ema on 1h holds as resistance now that price has broken below it i am seeing a short on a pull back.
  • #4,997
  • Mar 31, 2009 8:16am Mar 31, 2009 8:16am
Does anyone see an ascending triangle on the 1H? We'll let PA lead the way
  • #4,998
  • Mar 31, 2009 8:33am Mar 31, 2009 8:33am
Good morning everyone! I hope everyone's been bagging the pips. I'm not currently in a trade, but keeping my eyes peeled for one.
Just digging in the trenches like everyone else!
  • #4,999
  • Mar 31, 2009 8:37am Mar 31, 2009 8:37am
I wish I would have gotten to the office about 15m ago so I could have gotten in off the pin on the 15m. Looks like she's paid twice so far and could pay more. 4315 is a key area today in my eyes. We get under it, we could continue south, otherwise, longs will be in the books should we stay over it.
Just digging in the trenches like everyone else!
  • #5,000
  • Mar 31, 2009 8:37am Mar 31, 2009 8:37am
Quoting eohater
Good morning everyone! I hope everyone's been bagging the pips. I'm not currently in a trade, but keeping my eyes peeled for one.
About 91 pips down, my only beauty I picked out, i didnt enter.......The close of the 12 midday (for me) candle was a text book 1 hour 62 ema bounce in my eyes, then others said look at other things, and i talked myself out of it.

not that im blaming anyone, as its my trigger to pull, it was educational
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