Trade what you see NOT what you expect | Page 605 | Forex Factory

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Trade what you see NOT what you expect

  • #12,081
  • May 13, 2009 5:20am May 13, 2009 5:20am
Quoting macc
Hope your stop wasn't too tight. Great pick up off the bottom of that drop (you too riggster)

Macc
there confluence there...nice pickup! hopefuly that was the retrace
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  • #12,082
  • May 13, 2009 5:24am May 13, 2009 5:24am
Quoting macc
Hope your stop wasn't too tight. Great pick up off the bottom of that drop (you too riggster)

Macc
there good support level at 1.5140/30 (daily 200sma + 4hour 35sma also) when that goes should see it move lower to 1.5060/70 below that 1.4940/50...

but still got my long... see if it bounces abit more, not looking for great deal
Trading is 80% Emotional, 20% Technical
  • #12,083
  • May 13, 2009 5:36am May 13, 2009 5:36am
Quoting fx local
there good support level at 1.5140/30 (daily 200sma + 4hour 35sma also) when that goes should see it move lower to 1.5060/70 below that 1.4940/50...

but still got my long... see if it bounces abit more, not looking for great deal


Have to say that, having been bullish this morning, once the drop happened I thought yesterday's low of 15075 would come into view.

Hope you're covered green on the long anyway.

Macc
  • #12,084
  • May 13, 2009 5:41am May 13, 2009 5:41am
Quoting macc


Have to say that, having been bullish this morning, once the drop happened I thought yesterday's low of 15075 would come into view.

Hope you're covered green on the long anyway.

Macc
yep +5!! not looking for much +50 would be result!! anyone catch the sell off?
Trading is 80% Emotional, 20% Technical
  • #12,085
  • May 13, 2009 5:52am May 13, 2009 5:52am
Quoting fx local
yep +5!! not looking for much +50 would be result!! anyone catch the sell off?
I was actually bearish on EJ from my charts and took her short from the ma's (around 13,175) down to 13,100.

As I was bullish GU I didn't "expect" the drop but was flat anyway prior to the news.

Macc
  • #12,086
  • May 13, 2009 6:24am May 13, 2009 6:24am
Aimed at Ken Lee and Turtle who were chatting about this earlier..Though im sure anyone could advise me:

15M 35/50 cross & reverse:

I see that its the 35 Sma for this set up

Now which 50 do we look at? Because Eo has both 50 Sma and 50 Ema on his 15M.

Just like to get this dead straight.... Thank you chaps.

Hope you are all having a great day.
  • #12,087
  • May 13, 2009 6:25am May 13, 2009 6:25am
Quoting riggster
Aimed at Ken Lee and Turtle who were chatting about this earlier..Though im sure anyone could advise me:

15M 35/50 cross & reverse:

I see that its the 35 Sma for this set up

Now which 50 do we look at? Because Eo has both 50 Sma and 50 Ema on his 15M.

Just like to get this dead straight.... Thank you chaps.

Hope you are all having a great day.
EO has staed previouslly that if you wanted cleaner charts stick with the EMA and drop the SMA .
Good Trading To All ; Ken Lee
  • #12,088
  • May 13, 2009 6:27am May 13, 2009 6:27am
Quoting KENNETH lEE
EO has staed previouslly that if you wanted cleaner charts stick with the EMA and drop the SMA .
Job done. Great thanks Ken.
  • #12,089
  • May 13, 2009 6:28am May 13, 2009 6:28am
Morning, folks.

This was kind of a DROP! It was huge!

And now GU is testing TL on 1H. Let's see where it will go.
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  • #12,090
  • May 13, 2009 6:29am May 13, 2009 6:29am
Quoting KENNETH lEE
EO has staed previouslly that if you wanted cleaner charts stick with the EMA and drop the SMA .
Oh and thanks also for your view on account management on the 'how much trading capital to keep with your broker thread'
  • #12,091
  • May 13, 2009 6:42am May 13, 2009 6:42am
Quoting KENNETH lEE
EO has staed previouslly that if you wanted cleaner charts stick with the EMA and drop the SMA .
Having changed th 50 sma to 50 ema on my 15m

I see its now sitting below my 35 rather than ontop!

This could make a considerable difference to 35/15 cross & reverse entries!
  • #12,092
  • May 13, 2009 7:21am May 13, 2009 7:21am
Quoting riggster
Having changed th 50 sma to 50 ema on my 15m

I see its now sitting below my 35 rather than ontop!

This could make a considerable difference to 35/15 cross & reverse entries!
I think you mean 35/50 cross on the 15 minute chart.. One candle must pass through the 35 SMA and the 50 EMA then we reverse on the open of the next candle...
Good Trading To All ; Ken Lee
  • #12,093
  • May 13, 2009 7:25am May 13, 2009 7:25am
Quoting KENNETH lEE
I think you mean 35/50 cross on the 15 minute chart.. One candle must pass through the 35 SMA and the 50 EMA then we reverse on the open of the next candle...
Yeh sorry ken typo!

I understand the basics of the setup.

But my entries would have been affected when i was using the 50 sma !

Cheers mate.
  • #12,094
  • May 13, 2009 7:26am May 13, 2009 7:26am
Looking for a pull back and retest of the 1 & 4 H tl then we could be good for a decent short.

Anyone with me?

Maybe need a 4H close below tl Mine closes at 4 gmt/11 est
  • #12,095
  • May 13, 2009 7:39am May 13, 2009 7:39am
I only needed to look on the 15m....Missed this lovely bounce off the 10 !!

  • #12,096
  • May 13, 2009 7:40am May 13, 2009 7:40am
Quoting riggster
Looking for a pull back and retest of the 1 & 4 H tl then we could be good for a decent short.

Anyone with me?

Maybe need a 4H close below tl Mine closes at 4 gmt/11 est

I was long lucklly I took my profit before the news.. I will wait for the news to settle before I decide. Before the news looked like it was going to go back above the TL..

Boy if anyone is still short of the 62 EMA 1 hr. touch trade on the E/J their looking mighty good right now.. almost 200 pips. Not me.. I took a couple of trade but I am not a good long term trader Got to get in and out. But working on it.
Good Trading To All ; Ken Lee
  • #12,097
  • May 13, 2009 7:45am May 13, 2009 7:45am
Quoting KENNETH lEE
I was long lucklly I took my profit before the news.. I will wait for the news to settle before I decide. Before the news looked like it was going to go back above the TL..

Boy if anyone is still short of the 62 EMA 1 hr. touch trade on the E/J their looking mighty good right now.. almost 200 pips. Not me.. I took a couple of trade but I am not a good long term trader Got to get in and out. But working on it.
Good work I know you never like to be in during the news. Me too if im in 20 pips + ill take it, any less i'll sometimes move sl real close and take a chance.
  • #12,098
  • May 13, 2009 8:08am May 13, 2009 8:08am
Quoting KENNETH lEE
I was long lucklly I took my profit before the news.. I will wait for the news to settle before I decide. Before the news looked like it was going to go back above the TL..

Boy if anyone is still short of the 62 EMA 1 hr. touch trade on the E/J their looking mighty good right now.. almost 200 pips. Not me.. I took a couple of trade but I am not a good long term trader Got to get in and out. But working on it.
Had one soldier still running but also added on at the 21 ema and took some nice profit.
  • #12,099
  • May 13, 2009 8:19am May 13, 2009 8:19am
Quoting PippiNole
Had one soldier still running but also added on at the 21 ema and took some nice profit.

THAT'S WHAT I'M TALKING ABOUT BABY !!!

http://www.noisemakers.net/images/dancing_smileys.gif
Good Trading To All ; Ken Lee
  • #12,100
  • May 13, 2009 8:24am May 13, 2009 8:24am
Quoting riggster
Good work I know you never like to be in during the news. Me too if im in 20 pips + ill take it, any less i'll sometimes move sl real close and take a chance.

My broker doesn't honor orders during news.. So no way to do it.. stop order would get filled to their advantage..
Good Trading To All ; Ken Lee
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