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Trade what you see NOT what you expect

  • #9,081
  • Apr 21, 2009 11:28am Apr 21, 2009 11:28am
Quoting Infinity
I'm not holding on for anything long term at the moment... I regained my lost pips from the 62ema to 4700... It is at a tricky spot right now... It could go either way from here really...
Infinity,
What did triggered your long fom 62ma?
  • #9,082
  • Apr 21, 2009 11:30am Apr 21, 2009 11:30am
Quoting Komissar
Infinity,
What did triggered your long fom 62ma?
You said it .... the 62ema...

It was broken and retested...
Patience + Discipline - Greed = Success
  • #9,083
  • Apr 21, 2009 11:30am Apr 21, 2009 11:30am
Quoting Infinity
I think we will see at least 4725
I'm looking at the 50% retrace on the 4HR @ 4760....that's if the 4HR 50EMA (which is your number 4725) doesn't hold up.

HOLLA
  • #9,084
  • Apr 21, 2009 11:31am Apr 21, 2009 11:31am
Quoting eohater


I feel like the cat! Now where's my 40 and Bob?


HOLLA
  • #9,085
  • Apr 21, 2009 11:32am Apr 21, 2009 11:32am
Quoting eohater
I agree! She's being a bitch right now actually! I also see your 4725 as a possibility. Would love to see a hangman on this h1 close.

Oh yeah, Morgan Stanley earnings are about to be released. That should drive the DOW down and let the risk aversion go back to the dollar. But, WTF do I know, I'm in an upside down freakin trade right now. I'd sell my grandmother if it would help right now!
I've been tricked twice today by pa on shorts.. Overall my longs have worked out better today...
Patience + Discipline - Greed = Success
  • #9,086
  • Apr 21, 2009 11:32am Apr 21, 2009 11:32am
Quoting Infinity
You said it .... the 62ema...

It was broken and retested...
But how did you figure out that it won't go further down?
That candle is not closed yet.

Oh, never mind. I see. 15min dropped down and closed. Am I right?
  • #9,087
  • Apr 21, 2009 11:33am Apr 21, 2009 11:33am
Quoting Infinity
The market reacted after this news.... http://www.bloomberg.com/apps/news?p...IRo&refer=home

I forgot that fool was speaking...will let the market digest it.

Then look for the next setup please.

HOLLA
  • #9,088
  • Apr 21, 2009 11:33am Apr 21, 2009 11:33am
Quoting Turtle
I'm looking at the 50% retrace on the 4HR @ 4760....that's if the 4HR 50EMA (which is your number 4725) doesn't hold up.

HOLLA
Yeah bro! If we past there, I see 4750-4800
Patience + Discipline - Greed = Success
  • #9,089
  • Apr 21, 2009 11:36am Apr 21, 2009 11:36am
Quoting Komissar
But how did you figure out that it won't go further down?
That candle is not closed yet.

Oh, never mind. I see. 15min dropped down and closed. Am I right?
Nothing is 100% but we did not bounce off the 62ema for a short, we closed well above it, then retested it ...
Patience + Discipline - Greed = Success
  • #9,090
  • Apr 21, 2009 11:38am Apr 21, 2009 11:38am
Quoting Turtle
I forgot that fool was speaking...will let the market digest it.

Then look for the next setup please.

HOLLA
Ahh that explains it, thanks for the heads up
  • #9,091
  • Apr 21, 2009 11:38am Apr 21, 2009 11:38am
Quoting Infinity
I've been tricked twice today by pa on shorts.. Overall my longs have worked out better today...
Yep, longs were the play.

Miss the 0800 inverted hangman setupon the 15M at 4525 area.

Oh well....next setup please.

HOLLA
  • #9,092
  • Apr 21, 2009 11:38am Apr 21, 2009 11:38am
Quoting eohater
I agree! She's being a bitch right now actually! I also see your 4725 as a possibility. Would love to see a hangman on this h1 close.

Oh yeah, Morgan Stanley earnings are about to be released. That should drive the DOW down and let the risk aversion go back to the dollar. But, WTF do I know, I'm in an upside down freakin trade right now. I'd sell my grandmother if it would help right now!
Not poor ole Granny ...

http://www.tvland.com/photogallery/p...y-Clampett.jpg
Good Trading To All ; Ken Lee
  • #9,093
  • Apr 21, 2009 11:40am Apr 21, 2009 11:40am
Quoting KENNETH lEE
Not poor ole Granny ...

http://www.tvland.com/photogallery/p...y-Clampett.jpg
She's mad about that 1HR 62EMA also......

HOLLA
  • #9,094
  • Apr 21, 2009 11:43am Apr 21, 2009 11:43am
question for you guys about 1h hangmen. If the wick of the "hangman" exceeds the previous long candle wick, yet price closes below the previous candle wick, is it still valid as a hangman?
  • #9,095
  • Apr 21, 2009 11:45am Apr 21, 2009 11:45am
Quoting ezodisy
question for you guys about 1h hangmen. If the wick of the "hangman" exceeds the previous long candle wick, yet price closes below the previous candle wick, is it still valid as a hangman?
It is for me. Also, we want the bottom wick to be atleast 2x the amount of the body. IE. Body is made up of 10 pips, bottom wick needs to be made up of atleast 20 pips or more.
Just digging in the trenches like everyone else!
  • #9,096
  • Apr 21, 2009 11:45am Apr 21, 2009 11:45am
I am still holding the short also ......I am seeing several attempts to break 4700 and a failure.

All the s. stoches are in sync in overpriced except the 4h.

Priced dropped back down and bounced off the tl and 62ema after a break to satisfy that trade!

Hope it is not wishful thinking but I think 4700 may hold. If not then I will have to take the loss also.
  • #9,097
  • Apr 21, 2009 11:46am Apr 21, 2009 11:46am
I am still holding the short also ......I am seeing several attempts to break 4700 and a failure.

All the s. stoches are in sync in overpriced except the 4h.

Priced dropped back down and bounced off the tl and 62ema after a break to satisfy that trade!

Hope it is not wishful thinking but I think 4700 may hold. If not then I will have to take the loss also.
  • #9,098
  • Apr 21, 2009 11:48am Apr 21, 2009 11:48am
Thanks EO. My gut feeling is it would too but I am still learning about proper hangmen. Cheers
  • #9,099
  • Apr 21, 2009 11:48am Apr 21, 2009 11:48am
Quoting eohater
It is for me. Also, we want the bottom wick to be atleast 2x the amount of the body. IE. Body is made up of 10 pips, bottom wick needs to be made up of atleast 20 pips or more.
We had valid pin on 15M at 11:30, and it did not work at all.
Let's see if the 1H hangman will be delivered, and if this mother tracker will do anything good.
  • #9,100
  • Apr 21, 2009 11:50am Apr 21, 2009 11:50am
Quoting Komissar
We had valid pin on 15M at 11:30, and it did not work at all.
Let's see if the 1H hangman will be delivered, and if this mother tracker will do anything good.
and one on the h4 too... that one got me as well for a small loss.
Patience + Discipline - Greed = Success
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