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Trade what you see NOT what you expect

  • #8,121
  • Apr 16, 2009 9:46am Apr 16, 2009 9:46am
Quoting Seven9ine
Hey Eo,


I don't actually use MA's at all, I just use support and resistance. I am looking into some candle formations to give me some extra insight. And you guys seem to know this quite well.

But I do also notice that the EUR and the GBP move similar, its just the moves on the GBP as much more apparent, thus more pips. I guess I play it safer

As of now, i see if the GBP breaks the 4900 quite strong, then I would like a further down movement, if not then I would watch it to break 4920.
Thats just what I see by looking at it.
EU and GU usually move in tandem, except for the past couple of days, I was short on EU and long on GU. But, if you watch the EUR/GBP then you would see the GBP was dominating the EUR thus trumping the correlation. Today, the appear to be back in sync with one another.

A break of 4900 is going to happen, what I'm watching is for her to break 484x. We break 484x, I'll be looking at 477x as next area for longs..
Just digging in the trenches like everyone else!
  • #8,122
  • Apr 16, 2009 9:50am Apr 16, 2009 9:50am
Quoting eohater
EU and GU usually move in tandem, except for the past couple of days, I was short on EU and long on GU. But, if you watch the EUR/GBP then you would see the GBP was dominating the EUR thus trumping the correlation. Today, the appear to be back in sync with one another.

A break of 4900 is going to happen, what I'm watching is for her to break 484x. We break 484x, I'll be looking at 477x as next area for longs..
Would 4820 be considered as strong support based on the 4HR, since that has been a point this whole week??

HOLLA
  • #8,123
  • Apr 16, 2009 9:53am Apr 16, 2009 9:53am
i went long on 1.4895, looking to add lower... target 1.4942
please dont copy me
When life gives you lemons, make lemonade
  • #8,124
  • Apr 16, 2009 9:55am Apr 16, 2009 9:55am
Quoting Turtle
Would 4820 be considered as strong support based on the 4HR, since that has been a point this whole week??

HOLLA
Yes it would, but at the same point, we might get a pin here on the 15m to confirm Micho's entry as well.
Just digging in the trenches like everyone else!
  • #8,125
  • Apr 16, 2009 9:56am Apr 16, 2009 9:56am
Quoting micho
i went long on 1.4895, looking to add lower... target 1.4942
please dont copy me
Show me your fibs bro!
Just digging in the trenches like everyone else!
  • #8,126
  • Apr 16, 2009 9:56am Apr 16, 2009 9:56am
Quoting micho
i went long on 1.4895, looking to add lower... target 1.4942
please dont copy me
Could you post a chart to explain your reasoning for your long entry to help us all learn. :nerd:

Thanks....

HOLLA
  • #8,127
  • Apr 16, 2009 9:57am Apr 16, 2009 9:57am
Quoting eohater
Yes it would, but at the same point, we might get a pin here on the 15m to confirm Micho's entry as well.
Cool........

HOLLA
  • #8,128
  • Apr 16, 2009 9:57am Apr 16, 2009 9:57am
Quoting micho
i went long on 1.4895, looking to add lower... target 1.4942
please dont copy me
yes its a risky trade but i wanna see whats gonna happen
When life gives you lemons, make lemonade
  • #8,129
  • Apr 16, 2009 10:01am Apr 16, 2009 10:01am
its risky trade cause rsi is not on my side on the hourly chart which means i may have to add to it lower...

Attached Image (click to enlarge)
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When life gives you lemons, make lemonade
  • #8,130
  • Apr 16, 2009 10:02am Apr 16, 2009 10:02am
Quoting micho
yes its a risky trade but i wanna see whats gonna happen
All trades are risky bro, that's why we use SL. Your green now! Last h1 candle was indecisive.
Just digging in the trenches like everyone else!
  • #8,131
  • Apr 16, 2009 10:03am Apr 16, 2009 10:03am
Quoting micho
its risky trade cause rsi is not on my side on the hourly chart which means i may have to add to it lower...

Thanks for the chart bro! Right on the 50% I see.
Just digging in the trenches like everyone else!
  • #8,132
  • Apr 16, 2009 10:04am Apr 16, 2009 10:04am
Quoting eohater
All trades are risky bro, that's why we use SL. Your green now! Last h1 candle was indecisive.
yes yes i know but this trade has a high risk cause rsi on hourly is not on my side, but 4h and 1d are cool... thats why its risky for me
When life gives you lemons, make lemonade
  • #8,133
  • Apr 16, 2009 10:04am Apr 16, 2009 10:04am
Quoting micho
its risky trade cause rsi is not on my side on the hourly chart which means i may have to add to it lower...


Thanks Micho......


HOLLA
  • #8,134
  • Apr 16, 2009 10:05am Apr 16, 2009 10:05am
Quoting micho
yes yes i know but this trade has a high risk cause rsi on hourly is not on my side, but 4h and 1d are cool... thats why its risky for me
You and I know that rsi lags behind price, not leading. You've got a nice entry with a 4 pip draw down.
Just digging in the trenches like everyone else!
  • #8,135
  • Apr 16, 2009 10:06am Apr 16, 2009 10:06am

stop at BE if it comes down it will go deeper down
When life gives you lemons, make lemonade
  • #8,136
  • Apr 16, 2009 10:08am Apr 16, 2009 10:08am
Quoting micho

stop at BE if it comes down it will go deeper down
Smart trading bro! Why not got +1 for your efforts?
Just digging in the trenches like everyone else!
  • #8,137
  • Apr 16, 2009 10:11am Apr 16, 2009 10:11am
Quoting eohater
Smart trading bro! Why not got +1 for your efforts?
lol cause my price is above Fibonacci level already... better BE than +1 its high enough.
by the way, maybe you can read the market sentiment on candle action only but for me RSI lags on lower time frames but leads on higher time frames, so i take the market sentiment on higher time frames from RSI and work with trend on lower frames... so we all share the same idea but instead of fibo you use MA and instead of RSI, you sense it by intuition... while i use RSI so we have a good similarity
When life gives you lemons, make lemonade
  • #8,138
  • Apr 16, 2009 10:12am Apr 16, 2009 10:12am
I'm going to play the bearish tl until she tells me to stop.
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Hi, my name is Barry and you can keep your doctor...
  • #8,139
  • Apr 16, 2009 10:12am Apr 16, 2009 10:12am
Quoting micho
its risky trade cause rsi is not on my side on the hourly chart which means i may have to add to it lower...


Please share your fib charts more often.
Just digging in the trenches like everyone else!
  • #8,140
  • Apr 16, 2009 10:14am Apr 16, 2009 10:14am
Quoting micho
lol cause my price is above Fibonacci level already... better BE than +1 its high enough.
by the way, maybe you can read the market sentiment on candle action only but for me RSI lags on lower time frames but leads on higher time frames, so i take the market sentiment on higher time frames from RSI and work with trend on lower frames... so we all share the same idea but instead of fibo you use MA and instead of RSI, you sense it by intuition... while i use RSI so we have a good similarity
I see how you put the two together now! Thank you!
Just digging in the trenches like everyone else!
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