Trade what you see NOT what you expect | Page 579 | Forex Factory

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Trade what you see NOT what you expect

  • #11,561
  • May 8, 2009 12:49pm May 8, 2009 12:49pm
Quoting cisco
I'm flat at the moment. Even so, I can't figure out who's buying at these levels on a Friday afternoon. It makes no sense.
That is why I stop trading at london close on Fridays... If I trade after that... it is small scalps...
Patience + Discipline - Greed = Success
  • #11,562
  • May 8, 2009 12:57pm May 8, 2009 12:57pm
If I was long here, I'd give serious consideration to taking profits. She's hit or exceeded every trend line on every TF.
Hi, my name is Barry and you can keep your doctor...
  • #11,563
  • May 8, 2009 1:03pm May 8, 2009 1:03pm
Quoting cisco
If I was long here, I'd give serious consideration to taking profits. She's hit or exceeded every trend line on every TF.
Shows what I know...she's still truckin' north.
Hi, my name is Barry and you can keep your doctor...
  • #11,564
  • May 8, 2009 1:07pm May 8, 2009 1:07pm
Quoting analizer
Im long based on 35-50 MA on 15 min & 62EMA (1 hr)... Hope me eyes dont lye me
Just doing a trailing stop (SL +100 now) for this trade... Profitable anyway

Thanks to this old north train
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"Even A Thousand Mile Journey Begins with the First Step"
  • #11,565
  • May 8, 2009 1:10pm May 8, 2009 1:10pm
Quoting analizer
Just doing a trailing stop (SL +100 now) for this trade... Profitable anyway

Thanks to this old north train

Helluva trade for a friday afternoon... Good for you...
Good Trading To All ; Ken Lee
  • #11,566
  • May 8, 2009 1:14pm May 8, 2009 1:14pm
Might get that bearish hangman this time.. LOL Figure at some point someone would like to take some money off the table.. OR maybe not !
Good Trading To All ; Ken Lee
  • #11,567
  • May 8, 2009 1:20pm May 8, 2009 1:20pm
DOW is having a nice day also ... up 150.46 probablly one reason the cable is stuck to the top
Good Trading To All ; Ken Lee
  • #11,568
  • May 8, 2009 1:23pm May 8, 2009 1:23pm
Quoting analizer
Just doing a trailing stop (SL +100 now) for this trade... Profitable anyway

Thanks to this old north train
Good trading!
Patience + Discipline - Greed = Success
  • #11,569
  • May 8, 2009 1:24pm May 8, 2009 1:24pm
Quoting KENNETH lEE
DOW is having a nice day also ... up 150.46 probablly one reason the cable is stuck to the top
Interesting you say that, Ken... what is the general consensus regarding GBP movement in relation to the DOW? In my mind, as I tried to rationalize it, when the DOW is up, USD is down (money flowing out of cash and into stocks), thus, if USD rises, GBP naturally falls as the cross-currency.... does this theory hold any water, as it may?
  • #11,570
  • May 8, 2009 1:26pm May 8, 2009 1:26pm
Quoting EzRidr62
Interesting you say that, Ken... what is the general consensus regarding GBP movement in relation to the DOW? In my mind, as I tried to rationalize it, when the DOW is up, USD is down (money flowing out of cash and into stocks), thus, if USD rises, GBP naturally falls as the cross-currency.... does this theory hold any water, as it may?
From just observing it. Nothing I have learned if the dow is doing good the cable is moving up.. Like I said this something I have noticed nothing I have read or studied.
Good Trading To All ; Ken Lee
  • #11,571
  • May 8, 2009 1:31pm May 8, 2009 1:31pm
That is why I am a Price Action trader . I am not smart enough to know what is going to happen in relationship to different currencies or news.. Because like you are saying you would think it would do A but it does B instead... Makes my head hurt just trying to think about it...
Good Trading To All ; Ken Lee
  • #11,572
  • May 8, 2009 1:38pm May 8, 2009 1:38pm
Euro sent everyone north except EJ......just another freaky friday.

Glad I made quota and stayed out...even though my demo took a beat down.

HOLLA
  • #11,573
  • May 8, 2009 1:44pm May 8, 2009 1:44pm
Quoting KENNETH lEE
.....Because like you are saying you would think it would do A but it does B instead... Makes my head hurt just trying to think about it...
Gotcha.... is that why I have this pain over my eyeballs every time I try to trade 4X?


Ez

  • #11,574
  • May 8, 2009 1:50pm May 8, 2009 1:50pm
NEW YORK -(Dow Jones)- The dollar fell to its lowest level against the euro in six weeks Friday as higher stock markets, a better-than-expected U.S. jobs report, and broad optimism led investors to stop hoarding so many greenbacks.
The euro climbed as high as $1.3604 Friday afternoon, a level unseen since late March, and the greenback fell to intraday lows against the yen, the Swiss franc and several other currencies as dollar-selling took off.
The U.S. currency's woes began with the release of the monthly nonfarm payrolls report, which showed that fewer jobs were lost last month than economists were expecting. Nonfarm payrolls fell 539,000 last month, the U.S. Labor Department said, well below expectations for a 610,000 decline, according to a Dow Jones Newswires survey.
The tamer-than-expected decline helped U.S. stocks gain, and the Dow Jones Industrial Average was recently up more than 100 points.
Those encouraging signs that the economy may have begun to recover pushed investors out of safe-haven bets on the dollar and into investments involving foreign currencies that potentially offer better returns.
Friday afternoon in New York, the euro was at $1.3590 from $1.3383 from late Thursday, while the dollar was at Y98.58 from Y99.04. The euro was at Y133.96 from Y132.58. The U.K. pound was at $1.5160 from $1.5020 late Thursday, while the dollar was at CHF1.1093 from CHF1.1307.
Technical analysts at Citigroup say this might be the beginning of a much bigger move up in the euro, if it can break through certain levels. "We are finally about to see the impulsive trending move we have believed in," they said. "We look for a quick test of the $1.3740 level and an acceleration towards $1.4720 on a break above here."
Good Trading To All ; Ken Lee
  • #11,575
  • May 8, 2009 1:54pm May 8, 2009 1:54pm
Quoting KENNETH lEE
NEW YORK -(Dow Jones)- The dollar fell to its lowest level against the euro in six weeks Friday as higher stock markets, a better-than-expected U.S. jobs report, and broad optimism led investors to stop hoarding so many greenbacks.
The euro climbed as high as $1.3604 Friday afternoon, a level unseen since late March, and the greenback fell to intraday lows against the yen, the Swiss franc and several other currencies as dollar-selling took off.
The U.S. currency's woes began with the release of the monthly nonfarm payrolls report, which showed...
Looks like the bulls are jumping back on the train.

HOLLA
  • #11,576
  • May 8, 2009 2:08pm May 8, 2009 2:08pm
Wellcome to the Crazy Friday Train .... All aboard กกก ... Tickets please
Attached Image
"Even A Thousand Mile Journey Begins with the First Step"
  • #11,577
  • May 8, 2009 2:24pm May 8, 2009 2:24pm
Quoting analizer
Wellcome to the Crazy Friday Train .... All aboard กกก ... Tickets please

Must have been the last train out of town..
Good Trading To All ; Ken Lee
  • #11,578
  • May 8, 2009 2:29pm May 8, 2009 2:29pm
Quoting analizer
Wellcome to the Crazy Friday Train .... All aboard กกก ... Tickets please
Looks like Disney during Christmas vacation.
Hi, my name is Barry and you can keep your doctor...
  • #11,579
  • May 8, 2009 2:53pm May 8, 2009 2:53pm
Analizer.....are you still in that trade???

Ez
  • #11,580
  • May 8, 2009 2:54pm May 8, 2009 2:54pm
It's been over 800 pips since we had a major retracement. That's kind of unusual, isn't it?
Hi, my name is Barry and you can keep your doctor...
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