Trade what you see NOT what you expect | Page 286 | Forex Factory

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Trade what you see NOT what you expect

  • #5,701
  • Apr 2, 2009 10:07am Apr 2, 2009 10:07am
Quoting Infinity
What is the price you guys have at the 100sma on the daily.. ?
4685.......

HOLLA
  • #5,702
  • Apr 2, 2009 10:07am Apr 2, 2009 10:07am
Quoting baz
GBP_USD Spot.png

15 min Rising Wedge

baz
Great post... I was just about to mention it....
Patience + Discipline - Greed = Success
  • #5,703
  • Apr 2, 2009 10:09am Apr 2, 2009 10:09am
Quoting Turtle
4685.......

HOLLA
Am I seeing something wrong...mine is at 4478....daily 100sma...???!!!
  • #5,704
  • Apr 2, 2009 10:10am Apr 2, 2009 10:10am
Quoting Infinity
Great post... I was just about to mention it....
i am short....but this is a Mighty Bull Rocket to push down...

baz
  • #5,705
  • Apr 2, 2009 10:10am Apr 2, 2009 10:10am
mine is at 4569 atm....
Patience + Discipline - Greed = Success
  • #5,706
  • Apr 2, 2009 10:11am Apr 2, 2009 10:11am
I don't know if any of you guys look at LFX charts, but on the USDLFX, which mirrors closely the dollar index, the dollar has shown some major weakness today.

On the 4H posted, the peaks circled red formed a double top, and then we broke through an area of resistance circled blue, we went back to retest on the next candle, and then went further down. I would expect further downward movement to the next blue line.

If we carry on like this, unless sterling is even weaker than the dollar, I can see us going higher tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: usd-h4.jpg Size: 142 KB
  • #5,707
  • Apr 2, 2009 10:11am Apr 2, 2009 10:11am
Quoting rt4x
Am I seeing something wrong...mine is at 4478....daily 100sma...???!!!
My fault, mine was an ema...same price as yours.

HOLLA
  • #5,708
  • Apr 2, 2009 10:13am Apr 2, 2009 10:13am
Quoting Infinity
mine is at 4569 atm....
Same here bro!
Just digging in the trenches like everyone else!
  • #5,709
  • Apr 2, 2009 10:13am Apr 2, 2009 10:13am
Quoting baz
i am short....but this is a Mighty Bull Rocket to push down...

baz
It keeps finding buyers near the 21ema on m15... the base of the wedge is also there atm..
Patience + Discipline - Greed = Success
  • #5,710
  • Apr 2, 2009 10:14am Apr 2, 2009 10:14am
Can you guys enlighten me...i went to search "rising wedge pattern" and some say it is a continuation...some say it is a reversal....please help...
  • #5,711
  • Apr 2, 2009 10:16am Apr 2, 2009 10:16am
Context: When found within a downtrend, the rising wedge is a continuation pattern with similar characteristics of a bear flag pattern. When found within the context of an uptrend, the rising wedge is an indication that an uptrend may soon reverse course with downside price action to follow.

Would we agree it's a reversal?
  • #5,712
  • Apr 2, 2009 10:16am Apr 2, 2009 10:16am
Quoting baz
i am short....but this is a Mighty Bull Rocket to push down...

baz
What price you short from?
Just digging in the trenches like everyone else!
  • #5,713
  • Apr 2, 2009 10:17am Apr 2, 2009 10:17am
Quoting rt4x
Can you guys enlighten me...i went to search "rising wedge pattern" and some say it is a continuation...some say it is a reversal....please help...
it is normally bearish but I have seen them break to the upside as well...
Patience + Discipline - Greed = Success
  • #5,714
  • Apr 2, 2009 10:18am Apr 2, 2009 10:18am
Quoting rt4x
Context: When found within a downtrend, the rising wedge is a continuation pattern with similar characteristics of a bear flag pattern. When found within the context of an uptrend, the rising wedge is an indication that an uptrend may soon reverse course with downside price action to follow.

Would we agree it's a reversal?
Agree!
Just digging in the trenches like everyone else!
  • #5,715
  • Apr 2, 2009 10:19am Apr 2, 2009 10:19am
Quoting eohater
What price you short from?
1.4720.......
on one of the Mt4 charts LITE FX....there is a Hangman pattern on the 4hr TF...but i am not sure how it may play out....

baz
  • #5,716
  • Apr 2, 2009 10:19am Apr 2, 2009 10:19am
Quoting Infinity
it is normally bearish but I have seen them break to the upside as well...
Exactly! They can still go either way!
Just digging in the trenches like everyone else!
  • #5,717
  • Apr 2, 2009 10:23am Apr 2, 2009 10:23am
Quoting baz
1.4720.......
on one of the Mt4 charts LITE FX....there is a Hangman pattern on the 4hr TF...but i am not sure how it may play out....

baz
It coincides with my h4 chart I posted earlier and the prior h4 close within the wick of the prior h4.
Just digging in the trenches like everyone else!
  • #5,718
  • Apr 2, 2009 10:23am Apr 2, 2009 10:23am
Anyone know how often we go for a whole day and never touch the 50sma?
Please ask questions and share your experiences with us all!
  • #5,719
  • Apr 2, 2009 10:23am Apr 2, 2009 10:23am
gbp 1.gif

there u go
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 1.gif Size: 52 KB
  • #5,720
  • Apr 2, 2009 10:24am Apr 2, 2009 10:24am
Quoting bkg102665
Anyone know how often we go for a whole day and never touch the 50sma?
I assume your talking about the 15 50? I've seen it go days before.
Just digging in the trenches like everyone else!
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