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Trade what you see NOT what you expect

  • #12,121
  • May 13, 2009 9:39am May 13, 2009 9:39am
Quoting eohater
5200 is my next profit target bro! You know what's there on the 15m and you know what to do.
I still have doubts in my skills, so let me clarify.
There are 35/50 MAs just above 5200.
Are you looking for cross/reverse short over there?
Thanks

Shoot! I forgot about 200ma. If GU cross it, so more longs.
  • #12,122
  • May 13, 2009 9:39am May 13, 2009 9:39am
Quoting eohater
5200 is my next profit target bro! You know what's there on the 15m and you know what to do.
200 sma sandwiched right in between...


HOLLA
  • #12,123
  • May 13, 2009 9:41am May 13, 2009 9:41am
Quoting PippiNole
Thanks PippiNole....how's the mistress doing???

HOLLA
  • #12,124
  • May 13, 2009 9:42am May 13, 2009 9:42am
Quoting Turtle
My 4HR doesn't closed for another 90 minutes but right now it's forming a nice hammer with a bounce off of the 50sma with a support line at 5065.

If it's false breakout no problem, I'm locked in, let's see if this move might take her higher, especially if that 4HR lives up to the Hammer.

HOLLA
Great trade that mate I was fixated on 5 0'clock bounces and had my eye right off the bigger picture.

Tl may hold..either way your nicely possitioned

I'll get there eventually...Im working on ways to dicipline my self...dont ask...
  • #12,125
  • May 13, 2009 9:43am May 13, 2009 9:43am
Quoting Infinity
Great job guys!! I got in myself at 5119 and 5090 .... took some profit at 5165... looking for 5200 as well...
Nice bro! I love it when we're all riding the same way. I will be watching the h4 close very closely. Close around this price, hammer, I'll add around 514x should it go down there on the turn. Might be a nice swing to 5400. Traffic lights are above us though and there will obviously be opportunities to short her, but we are in a bullish upswing and a ride to 5400 and above from here would be very nice for all our accounts. One item that does concern me, we didn't make a new high during the Asian or London session. Oh, and Bernake opening his pie hole saying he wants a strong USD.
Just digging in the trenches like everyone else!
  • #12,126
  • May 13, 2009 9:43am May 13, 2009 9:43am
Quoting Infinity
Great job guys!! I got in myself at 5119 and 5090 .... took some profit at 5165... looking for 5200 as well...
Great entries bro......

I saw it pull back to 5118, but didn't add, since I was already in. Working on staying discipline. :nerd:

HOLLA
  • #12,127
  • May 13, 2009 9:45am May 13, 2009 9:45am
Quoting Komissar
I still have doubts in my skills, so let me clarify.
There are 35/50 MAs just above 5200.
Are you looking for cross/reverse short over there?
Thanks

Shoot! I forgot about 200ma. If GU cross it, so more longs.
I'm not going to be looking to short her myself, I'm still bullish on GU, but there will be a short opportunity once the 15m candle closes across the 15m 35/50. Might not get over it though since we didn't make a new high.
Just digging in the trenches like everyone else!
  • #12,128
  • May 13, 2009 9:47am May 13, 2009 9:47am
Quoting Turtle
Thanks PippiNole....how's the mistress doing???

HOLLA
She is playing out very well. I had a nice entry off the 62 bounce earlier and have been playing her up and down all along the way.
  • #12,129
  • May 13, 2009 9:49am May 13, 2009 9:49am
Quoting Infinity
Keep both the 50ema and 50 sma on your chart...
Ok infinity, what am i watching for with each one....a cross of 35sma/50sma and 50ema together ??

Are the 50's on the 15 used for anything else ?

Cheers mate
  • #12,130
  • May 13, 2009 9:50am May 13, 2009 9:50am
Quoting PippiNole
She is playing out very well. I had a nice entry off the 62 bounce earlier and have been playing her up and down all along the way.
Nice job bro.......

HOLLA
  • #12,131
  • May 13, 2009 9:51am May 13, 2009 9:51am
Quoting eohater
Nice bro! I love it when we're all riding the same way. I will be watching the h4 close very closely. Close around this price, hammer, I'll add around 514x should it go down there on the turn. Might be a nice swing to 5400. Traffic lights are above us though and there will obviously be opportunities to short her, but we are in a bullish upswing and a ride to 5400 and above from here would be very nice for all our accounts. One item that does concern me, we didn't make a new high during the Asian or London session. Oh, and Bernanke opening his pie...
I'm watching the next h4 close very carefully myself... A hammer would be sweet! I did'nt like that we did'nt make a new high either .. that is why I shorted it last night... The daily close will be interesting....Bernanke wanting a strong dollar may just give us the push up we need...
Quoting Turtle
Great entries bro......

I saw it pull back to 5118, but didn't add, since I was already in. Working on staying discipline. :nerd:

HOLLA
Nothing wrong with that bro! I originally planned to add down to 5068 with stops just below... The h4 50ema also gave me something to work with....
Patience + Discipline - Greed = Success
  • #12,132
  • May 13, 2009 9:52am May 13, 2009 9:52am
Quoting riggster
Great trade that mate I was fixated on 5 0'clock bounces and had my eye right off the bigger picture.

Tl may hold..either way your nicely possitioned

I'll get there eventually...Im working on ways to dicipline my self...dont ask...
There will be self flogging classes after the sessions over...


Sorry about the miss info about the 50 ema and sma.
Good Trading To All ; Ken Lee
  • #12,133
  • May 13, 2009 9:52am May 13, 2009 9:52am
Quoting riggster
Ok infinity, what am i watching for with each one....a cross of 35sma/50sma and 50ema together ??

Are the 50's on the 15 used for anything else ?

Cheers mate
Riggster....quick question, have you read the PDF already?? Also Ken Lee has put out some nice flashcards for the 35/50 trade.

HOLLA
  • #12,134
  • May 13, 2009 9:56am May 13, 2009 9:56am
Quoting Infinity
I'm watching the next h4 close very carefully myself... A hammer would be sweet! I did'nt like that we did'nt make a new high either .. that is why I shorted it last night... The daily close will be interesting....Bernanke wanting a strong dollar may just give us the push up we need...
I took last night off from trading, but good job on the short bro! I saw the price on my phone, but never opened charts to enter an order. My ass needed to get caught up on some sleep.
Just digging in the trenches like everyone else!
  • #12,135
  • May 13, 2009 9:56am May 13, 2009 9:56am
Quoting riggster
Ok infinity, what am i watching for with each one....a cross of 35sma/50sma and 50ema together ??

Are the 50's on the 15 used for anything else ?

Cheers mate
I was not referring to the cross trade just now... both the 50ema/sma are very good support/resistance points..
Patience + Discipline - Greed = Success
  • #12,136
  • May 13, 2009 9:59am May 13, 2009 9:59am
Quoting Infinity
I was not referring to the cross trade just now... both the 50ema/sma are very good support/resistance points..
Exactly! Like right now, the 50sma is 26 pips higher than the 50ema and even more than the 35sma. We all know the cross and reverse trade, well, if we get a close above the 15m 35/50ema and it's right on or just below the 50sma, BINGO, short me know baby! Tight SL and covered within 2 candles after entry, usually taking 20 off within the 1st candle.
Just digging in the trenches like everyone else!
  • #12,137
  • May 13, 2009 10:00am May 13, 2009 10:00am
Quoting Turtle
Riggster....quick question, have you read the PDF already?? Also Ken Lee has put out some nice flashcards for the 35/50 trade.

HOLLA
Yes mate read it, guess i'll have to keep doing so.

Sorry if ive been asking questions i can easy find in there
  • #12,138
  • May 13, 2009 10:00am May 13, 2009 10:00am
Quoting eohater
I took last night off from trading, but good job on the short bro! I saw the price on my phone, but never opened charts to enter an order. My ass needed to get caught up on some sleep.
I know what you mean bro! The price action around 532x caught my eye just before I went to bed and I entered with stop above the 5350 and tp 5200... could have had more but I just set the orders and went to bed...
Patience + Discipline - Greed = Success
  • #12,139
  • May 13, 2009 10:01am May 13, 2009 10:01am
Quoting eohater
Exactly! Like right now, the 50sma is 26 pips higher than the 50ema and even more than the 35sma. We all know the cross and reverse trade, well, if we get a close above the 15m 35/50ema and it's right on or just below the 50sma, BINGO, short me know baby! Tight SL and covered within 2 candles after entry, usually taking 20 off within the 1st candle.
Patience + Discipline - Greed = Success
  • #12,140
  • May 13, 2009 10:02am May 13, 2009 10:02am
Quoting eohater
Exactly! Like right now, the 50sma is 26 pips higher than the 50ema and even more than the 35sma. We all know the cross and reverse trade, well, if we get a close above the 15m 35/50ema and it's right on or just below the 50sma, BINGO, short me know baby! Tight SL and covered within 2 candles after entry, usually taking 20 off within the 1st candle.



Thanks men really helpful
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