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Trade what you see NOT what you expect

  • #10,581
  • Apr 29, 2009 10:58pm Apr 29, 2009 10:58pm
Quoting eohater
I'm seeing 488x as our next stop. I'm still holding my long position from earlier. I've booked more profit on the move now at 4840, remaining position is at +50 and is very miniscule now.
took some profit and closed out the rest +2...got my 20 back at least

may miss a nice move....another bus in NY session
  • #10,582
  • Apr 30, 2009 12:22am Apr 30, 2009 12:22am
Quoting BenScoobert
I'm looking for a short around 4837 area. Gimme 2 mins i'll add a chart to show what i see, ill clean up all the crap ive added to it over the last week or so.

EDIT: here we go
I went to bed not long after I said this, and I missed my entry I said I wanted.
But I think there is further to fall after this 2 day hike so i'm short 40 pips lower than where i wanted to be but still quite confident it will be a profitable one.
  • #10,583
  • Apr 30, 2009 1:53am Apr 30, 2009 1:53am
My bias is long at the moment, purely down to dollar weakness. The USDLFX seems to have punched through support, and the bulls seem unable to bring us back up.

I had wanted to take a long position at 4750 last night, but as usual, I do all the analysis, and then don't take it. I'm improving though, normally I do all the analysis, and then the first thing I do is trade in the opposite direction and get absolutely creamed.

For more info, I posted a chart in Hussin's thread, and Bones followed up with a bit more info.
  • #10,584
  • Edited 2:38am Apr 30, 2009 2:15am | Edited 2:38am
The Eur/Jpy ( AKA the mistress) just finally hit the 4hr 200 sma.. Now to see what PA will do. Here's a chart 2 previous bearish candles also.
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Good Trading To All ; Ken Lee
  • #10,585
  • Apr 30, 2009 3:14am Apr 30, 2009 3:14am
Good Afternoon all, how is everyone doing?
  • #10,586
  • Apr 30, 2009 3:26am Apr 30, 2009 3:26am
Quoting damo9893
Good Afternoon all, how is everyone doing?

Good MORNING !! There was a good long on the e/j at the frankfurt open. A retest of the 50 ema was the entry. ( but I was asleep for that one. )The only trade I took was a short off the flat top at London open.. for quick few. Letting price lead the way. trying to learn patience. EJ is for sure struggling here.. I think I will go for a bicycle ride and comeback later...
Good Trading To All ; Ken Lee
  • #10,587
  • Apr 30, 2009 3:35am Apr 30, 2009 3:35am
Quoting KENNETH lEE
Good MORNING !! There was a good long on the e/j at the frankfurt open. A retest of the 50 ema was the entry. ( but I was asleep for that one. )The only trade I took was a short off the flat top at London open.. for quick few. Letting price lead the way. trying to learn patience. EJ is for sure struggling here.. I think I will go for a bicycle ride and comeback later...
Yer im trying to be a bit more patient my self, allways pulling the trigger early.

Enjoy your bike ride, i might go for a ride a bit later to
  • #10,588
  • Apr 30, 2009 4:11am Apr 30, 2009 4:11am
GM everyone hope all trading is going well. im flat atm looking for a seat, took the ride on the mistress that was mentioned although im disappointed to say i ended up at +30 im not complaining but every trade ive taken this week that i wanted to let ride was stopped out at +30 even after waiting for them to be +50 or more before putting the stop up.

oh well, im gonna take another ride on her when (if) she hits 35/50 ema on 15m and of course if they hold and candles look good.
  • #10,589
  • Apr 30, 2009 4:15am Apr 30, 2009 4:15am
Morning all,

I am waiting for the correction to finish on the pound. Maybe back to 1.4850 or a cross of the 35/50 on the 15 min. I am assuming the move up will continue but we will see.
  • #10,590
  • Apr 30, 2009 4:58am Apr 30, 2009 4:58am
just played those tweezer bottoms on the mistress for +30. probably closed to early but i closed it at roughly the top of of 5 AM est candle. as UY came up on 98.00 resistance as well

looking for another seat. mightt take the GU tweezers, will monitor
  • #10,591
  • Apr 30, 2009 5:02am Apr 30, 2009 5:02am
Quoting NwFXenthsist
just played those tweezer bottoms on the mistress for +30. probably closed to early but i closed it at roughly the top of of 5 AM est candle. as UY came up on 98.00 resistance as well

looking for another seat. mightt take the GU tweezers, will monitor
Nice mate, i was waiting for the H1 to close before i got in. Now it cloed as a hangman im in long at 130.23
  • #10,592
  • Apr 30, 2009 5:04am Apr 30, 2009 5:04am
Quoting damo9893
Nice mate, i was waiting for the H1 to close before i got in. Now it cloed as a hangman im in long at 130.23
Took 20 off and covered the rest
  • #10,593
  • Apr 30, 2009 5:07am Apr 30, 2009 5:07am
Quoting damo9893
Took 20 off and covered the rest

thanks you as well im gonna have to start taking partial profit and letting the rest run...i have a bad habit of taking the whole trade off
  • #10,594
  • Edited 5:10am Apr 30, 2009 5:09am | Edited 5:10am
I took the 35sma bounce long.. looking ok at the moment

Quoting NwFXenthsist
just played those tweezer bottoms on the mistress for +30. probably closed to early but i closed it at roughly the top of of 5 AM est candle. as UY came up on 98.00 resistance as well

looking for another seat. mightt take the GU tweezers, will monitor
  • #10,595
  • Apr 30, 2009 5:13am Apr 30, 2009 5:13am
Quoting NwFXenthsist
thanks you as well im gonna have to start taking partial profit and letting the rest run...i have a bad habit of taking the whole trade off
Yer mate it is a must, i only put 2 soldiers on the field. Kinda wish i had put more on now.

Im never to sure whether to put them on all at once or scale them in.

If Eo or anyone else has could enlighten me on this situation then please do, i would be very grateful.

Cheers, Damo
  • #10,596
  • Apr 30, 2009 5:14am Apr 30, 2009 5:14am
Quoting robgsxr
I took the 35sma bounce long.. looking ok at the moment

nice ttrade yeah she is rolling, i definitly got out to early
  • #10,597
  • Apr 30, 2009 5:14am Apr 30, 2009 5:14am
Im thinking we may get some resistance around the 130.90 - 131.10 area
  • #10,598
  • Apr 30, 2009 5:22am Apr 30, 2009 5:22am
Quoting damo9893
Yer mate it is a must, i only put 2 soldiers on the field. Kinda wish i had put more on now.

Im never to sure whether to put them on all at once or scale them in.

well better safe than sorry with putting a lot on the field the way i look at it....Im sure EO will be on soon, i normally dont post during US session i like to read and see what him and the others have going on so i can learn.

i will say though ive developed quite the itchy trigger finger when the set up is good
  • #10,599
  • Apr 30, 2009 5:27am Apr 30, 2009 5:27am
I may add a couple more soldiers on if we get a touch of the 5MA
  • #10,600
  • Apr 30, 2009 5:32am Apr 30, 2009 5:32am
Morning, everyone

I've just looked at GU charts, and I found kind of contradiction.

Daily - we might get the right shoulder soon.
1H - pretty strong TL up.

Today unemployment data is due. So, we'll see if TL will hold.
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