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Trade what you see NOT what you expect

  • #8,181
  • Apr 16, 2009 11:22am Apr 16, 2009 11:22am
Can someone give me feedback if you see what I see...a massive possible HS or Shampoo on 4H...i see the smaller 1H that Cisco just made reference to as well....pls look at white lines (this is as fancy as my postings get...no labeling capabilities here ) top being head, 2nd line being top of shoulder and 3rd line being neck area....any thoughts ???? GREEN PIPS TO ALL !!!
Attached Image (click to enlarge)
Click to Enlarge Name: 4h hs.gif Size: 45 KB
  • #8,182
  • Apr 16, 2009 11:28am Apr 16, 2009 11:28am
Quoting rt4x
Can someone give me feedback if you see what I see...a massive possible HS or Shampoo on 4H...i see the smaller 1H that Cisco just made reference to as well....pls look at white lines (this is as fancy as my postings get...no labeling capabilities here ) top being head, 2nd line being top of shoulder and 3rd line being neck area....any thoughts ???? GREEN PIPS TO ALL !!!
Is this what your looking at?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.PNG Size: 65 KB
Just digging in the trenches like everyone else!
  • #8,183
  • Apr 16, 2009 11:31am Apr 16, 2009 11:31am
Please tell me I'm not the only one who saw the hammer on the 15m and the PA on the h4 and h1 showing an upward movement?
Just digging in the trenches like everyone else!
  • #8,184
  • Apr 16, 2009 11:33am Apr 16, 2009 11:33am
Quoting eohater
Please tell me I'm not the only one who saw the hammer on the 15m and the PA on the h4 and h1 showing an upward movement?

It is all there. Just like you are saying....
Good Trading To All ; Ken Lee
  • #8,185
  • Apr 16, 2009 11:35am Apr 16, 2009 11:35am
Quoting eohater
Is this what your looking at?
No EO...I am actually seeing the whole previous "mountain" as a shoulder itself and that whole area you drew circles on the entire head...and shoulder might just come around ???!!!!....massive shampoo
  • #8,186
  • Apr 16, 2009 11:36am Apr 16, 2009 11:36am
I took also the north train triggered by 15 min hammer at 4894, my TP 4925. My SL is now at +15
"Even A Thousand Mile Journey Begins with the First Step"
  • #8,187
  • Apr 16, 2009 11:36am Apr 16, 2009 11:36am
Quoting rt4x
No EO...I am actually seeing the whole previous "mountain" as a shoulder itself and that whole area you drew circles on the entire head...and shoulder might just come around ???!!!!....massive shampoo
Open you chart up in MSPaint and do your circles or editing there to show what your seeing.
Just digging in the trenches like everyone else!
  • #8,188
  • Apr 16, 2009 11:37am Apr 16, 2009 11:37am
Quoting eohater
Please tell me I'm not the only one who saw the hammer on the 15m and the PA on the h4 and h1 showing an upward movement?
I saw it but I closed my second trading account so I didn't have the long option since I'm holding short.

In fact, we're back at the 15m 50 and I'm giving the old fisheye to adding short again.
Hi, my name is Barry and you can keep your doctor...
  • #8,189
  • Apr 16, 2009 11:38am Apr 16, 2009 11:38am
Quoting eohater
Please tell me I'm not the only one who saw the hammer on the 15m and the PA on the h4 and h1 showing an upward movement?
I did not take it though trading the other young lady EUR/JPY. Little more movement.. looking for another short signal now. She is sittong at the 61.8% fib and touching the 200 sma...and the 50 sma on the 1hr. So I will see. :nerd:
Good Trading To All ; Ken Lee
  • #8,190
  • Apr 16, 2009 11:39am Apr 16, 2009 11:39am
Quoting KENNETH lEE
It is all there. Just like you are saying....
Here's the h4 that closed 2 1/2 hours ago showing the inverted hangman. Not that shorts were no longer in play, but at this point, we need to be aware that buyers are coming into the market and use our 15m chart to find our entry. The hammer on the 15m gave the entry. Clean, no draw down. This is not to say that shorts are not still in play because they are. I'm long and short and green on both. I've taken 25 off my long and keeping it covered at +3 and my short is covered at +3. No way to lose!
Attached Image (click to enlarge)
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Just digging in the trenches like everyone else!
  • #8,191
  • Apr 16, 2009 11:43am Apr 16, 2009 11:43am
Quoting eohater
Here's the h4 that closed 2 1/2 hours ago showing the inverted hangman. Not that shorts were no longer in play, but at this point, we need to be aware that buyers are coming into the market and use our 15m chart to find our entry. The hammer on the 15m gave the entry. Clean, no draw down. This is not to say that shorts are not still in play because they are. I'm long and short and green on both. I've taken 25 off my long and keeping it covered at +3 and my short is covered at +3. No way to lose!
Here's the 15m showing the hammer. This is how you use the upper time frames with the lower time frames to get your entries. Remember, the traders on the h4 candles were already going long on the opening of the new h4 candle, the h1 traders were still in battle, the lower time frame traders were still with their shorts. Once the upper time frame candles close, you need to assess your current position and the PA that's presented on those upper time frames.
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Click to Enlarge Name: chart2.PNG Size: 55 KB
Just digging in the trenches like everyone else!
  • #8,192
  • Apr 16, 2009 11:44am Apr 16, 2009 11:44am
Quoting eohater
Open you chart up in MSPaint and do your circles or editing there to show what your seeing.
Don't know how to do that but maybe I can explain it here....the candles between the first 2 red lines are the left shoulder and then the next two would be forming the head....4620-4650 being the neckline...
Attached Image (click to enlarge)
Click to Enlarge Name: 4h hs.gif Size: 50 KB
  • #8,193
  • Apr 16, 2009 11:46am Apr 16, 2009 11:46am
Quoting eohater
Here's the h4 that closed 2 1/2 hours ago showing the inverted hangman. Not that shorts were no longer in play, but at this point, we need to be aware that buyers are coming into the market and use our 15m chart to find our entry. The hammer on the 15m gave the entry. Clean, no draw down. This is not to say that shorts are not still in play because they are. I'm long and short and green on both. I've taken 25 off my long and keeping it covered at +3 and my short is covered at +3. No way to lose!
It's amazing the differences in H4 candles.
Attached Image
Hi, my name is Barry and you can keep your doctor...
  • #8,194
  • Apr 16, 2009 11:52am Apr 16, 2009 11:52am
Quoting rt4x
Don't know how to do that but maybe I can explain it here....the candles between the first 2 red lines are the left shoulder and then the next two would be forming the head....4620-4650 being the neckline...
I see what your saying now. I don't know that I would say it's as massive sized as you are. Look at this chart and notice the bull flag that played out and your including this in your left shoulder. I would not include that in the shampoo. I would however include the bull run from the flag as the left arm up to the shoulder which sould have a matching right arm should the shampoo play out that I posted.

Mr. Ken Lee, do you have your shampoo definition on hand that you posted a while back? I think you got it off of investopedia or something.
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Just digging in the trenches like everyone else!
  • #8,195
  • Apr 16, 2009 11:54am Apr 16, 2009 11:54am
+35 for the long from 1.4893 target 1.4928
When life gives you lemons, make lemonade
  • #8,196
  • Apr 16, 2009 11:57am Apr 16, 2009 11:57am
http://www.chartpatterns.com/images/wbghas~1.gif
http://www.chartpatterns.com/images/head2t~1.gif
The head and shoulders pattern is generally regarded as a reversal pattern and it is most often seen in uptrends. It is also most reliable when found in an uptrend as well. Eventually, the market begins to slow down and the forces of supply and demand are generally considered in balance. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative buying re-emerges and the market rallies once more, but fails to take out the previous high. (This last top is considered the right shoulder.) Buying dries up and the market tests the downside yet again. Your trendline for this pattern should be drawn from the beginning neckline to the continuing neckline. (Volume has a greater importance in the head and shoulders pattern in comparison to other patterns. Volume generally follows the price higher on the left shoulder. However, the head is formed on diminished volume indicating the buyers aren't as aggressive as they once were. And on the last rallying attempt-the left shoulder-volume is even lighter than on the head, signaling that the buyers may have exhausted themselves.) New selling comes in and previous buyers get out. The pattern is complete when the market breaks the neckline. (Volume should increase on the breakout.) (Chart examples of head and shoulders patterns using commodity charts.) (Stock charts.)

http://www.chartpatterns.com/images/trspth~1.gif
The head and shoulders pattern can sometimes be inverted. The inverted head and shoulders is typically seen in downtrends. (What's noteworthy about the inverted head and shoulders is the volume aspect. The inverted left shoulder should be accompanied by an increase in volume. The inverted head should be made on lighter volume. The rally from the head however, should show greater volume than the rally from the left shoulder. Ultimately, the inverted right shoulder should register the lightest volume of all. When the market then rallies through the neckline, a big increase in volume should be seen.) (Chart examples of inverted head and shoulders patterns using commodity charts.) (Stock charts.)

Good Trading To All ; Ken Lee
  • #8,197
  • Apr 16, 2009 12:00pm Apr 16, 2009 12:00pm
here is the link to that site if anyone wants to look up others.

http://www.chartpatterns.com/index.html
Good Trading To All ; Ken Lee
  • #8,198
  • Apr 16, 2009 12:01pm Apr 16, 2009 12:01pm
Quoting micho
+35 for the long from 1.4893 target 1.4928
Good job micho! I got mine as well and still long and still short green on both.
Just digging in the trenches like everyone else!
  • #8,199
  • Apr 16, 2009 12:02pm Apr 16, 2009 12:02pm
Thanks to both of you....EO and Ken
  • #8,200
  • Apr 16, 2009 12:08pm Apr 16, 2009 12:08pm
Quoting eohater
Here's the M showing the hammer. This is how you use the upper time frames with the lower time frames to get your entries. Remember, the traders on the H candles were already going long on the opening of the new H candle, the H traders were still in battle, the lower time frame traders were still with their shorts. Once the upper time frame candles close, you need to assess your current position and the PA that's presented on those upper time frames.

Thank you for the detailed explanation.. It helps to see the BIG picture. We (I) get so focused watching the smaller time frames and forget to check the interplay between all them. I do see the 1 hour better now since I placed it right in front of me. Now to remember to check the 4 hr and take notice of the important information. maybe 4 hr alarm ( CHECK YOUR CHART!! ) Pops up. LOL

Again Thanks for All you Provide Us..Ken
Good Trading To All ; Ken Lee
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