Trade what you see NOT what you expect | Page 638 | Forex Factory

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Trade what you see NOT what you expect

  • #12,741
  • May 19, 2009 7:17pm May 19, 2009 7:17pm
I took 10 off the GBP bounce off the 50 ema.. Entered when my 1min quit moving down and went sideways. only 10 though E/J was acting NEWSYYY to me . wait for it to calm down.. myself...
Good Trading To All ; Ken Lee
  • #12,742
  • May 19, 2009 7:18pm May 19, 2009 7:18pm
Quoting KENNETH lEE
Short or long off the retest again? News Trader.. Jumper..
Short off the news hangman that failed to close above the previous candles with stop just above the wick(12 pips).
  • #12,743
  • May 19, 2009 7:20pm May 19, 2009 7:20pm
Quoting PippiNole
Thanks, I took another one of at 130.80 alot of support there.

The news tonight is making it a ping pong session.

pretty close to a double top on the e/j 15 min ...could go down another 50 pips and bounce off the 62 1 hr ema.. IT CAN doesn't mean it will of course.
Good Trading To All ; Ken Lee
  • #12,744
  • May 19, 2009 7:22pm May 19, 2009 7:22pm
Quoting KENNETH lEE
pretty close to a double top on the e/j 15 min ...could go down another 50 pips and bounce off the 62 1 hr ema.. IT CAN doesn't mean it will of course.
I want that in writing!
  • #12,745
  • May 19, 2009 7:23pm May 19, 2009 7:23pm
Quoting PippiNole
Short off the news hangman that failed to close above the previous candles with stop just above the wick(12 pips).

Kewl that was a great trade in out and pips in the bank...
Good Trading To All ; Ken Lee
  • #12,746
  • May 19, 2009 7:28pm May 19, 2009 7:28pm
[quote=KENNETH lEE;2743717]Kewl that was a great trade in out and pips in the bank...[/quote

Thanks Ken. I have a lone soldier trying to break the 130.80 area.
  • #12,747
  • May 19, 2009 7:31pm May 19, 2009 7:31pm
Took a long on GU @ 5475.

HOLLA
  • #12,748
  • May 19, 2009 7:34pm May 19, 2009 7:34pm
Quoting Turtle
Took a long on GU @ 5475.

HOLLA

Yes that support seems to be holding even with the news the Gbp/JPY shot down a lot further but the cable stopped here...
Good Trading To All ; Ken Lee
  • #12,749
  • May 19, 2009 7:38pm May 19, 2009 7:38pm
Quoting KENNETH lEE
Yes that support seems to be holding even with the news the Gbp/JPY shot down a lot further but the cable stopped here...
Yep that was what I was looking at from back in the US session.

Let's see how she plays. :nerd:

HOLLA
  • #12,750
  • May 19, 2009 7:45pm May 19, 2009 7:45pm
I wonder how this inverted hangman on the E/J will play out could be sweet. Might be the end of the news trade losing steam and getting ready to shoot back up. Of course as I type with my two stubby fingers it came down a lot more than I liked.
Good Trading To All ; Ken Lee
  • #12,751
  • May 19, 2009 7:47pm May 19, 2009 7:47pm
Quoting KENNETH lEE
I wonder how this inverted hangman on the E/J will play out could be sweet. Might be the end of the news trade losing steam and getting ready to shoot back up. Of course as I type with my two stubby fingers it came down a lot more than I liked.
Don't jinx my trade.
  • #12,752
  • May 19, 2009 7:47pm May 19, 2009 7:47pm
Quoting KENNETH lEE
I wonder how this inverted hangman on the E/J will play out could be sweet. Might be the end of the news trade losing steam and getting ready to shoot back up. Of course as I type with my two stubby fingers it came down a lot more than I liked.
You might get that 1hr 62 ema play that you wanted.

HOLLA
  • #12,753
  • May 19, 2009 7:49pm May 19, 2009 7:49pm
Quoting PippiNole
Don't jinx my trade.
Sorry.....

HOLLA
  • #12,754
  • May 19, 2009 7:54pm May 19, 2009 7:54pm
Just wanted to get some opinions on this.....

At what point do you get into the trade.....10 pips.....5 pips....when it touches.....after the candle close??

Thoughts??? :nerd:

HOLLA
  • #12,755
  • May 19, 2009 7:55pm May 19, 2009 7:55pm
I took the last soldier off at 130.52. Now it will go on down to the 62.
  • #12,756
  • May 19, 2009 8:06pm May 19, 2009 8:06pm
Quoting Turtle
Just wanted to get some opinions on this.....

At what point do you get into the trade.....10 pips.....5 pips....when it touches.....after the candle close??

Thoughts??? :nerd:

HOLLA

Those are the best two... I am trying to get use to getting in on the touch off the retest of a ma.. Sometimes waitng for a bit of confirmation can make the difference between a stress free trade and one your bounce in and out of profit on. Which makes me take just a small amount of profit when I should hold for more. Just my two cents worth.. look for confirmation prior to the touch .. look left for price action mybe just the candle previous Like Pippin said took the short off the candle because it didn't close higher than the previous one.. Stuff like that.
Good Trading To All ; Ken Lee
  • #12,757
  • May 19, 2009 8:08pm May 19, 2009 8:08pm
Guys notice how when EJ made its move down through the ma's the next candle retested and then the trade came down 60+ pips.
  • #12,758
  • May 19, 2009 8:09pm May 19, 2009 8:09pm
Quoting PippiNole
Guys notice how when EJ made its move down through the ma's the next candle retested and came down 60+ pips.

Which chart?????

HOLLA
  • #12,759
  • May 19, 2009 8:12pm May 19, 2009 8:12pm
Quoting KENNETH lEE
Those are the best two... I am trying to get use to getting in on the touch off the retest of a ma.. Sometimes waitng for a bit of confirmation can make the difference between a stress free trade and one your bounce in and out of profit on. Which makes me take just a small amount of profit when I should hold for more. Just my two cents worth.. look for confirmation prior to the touch .. look left for price action mybe just the candle previous Like Pippin said took the short off the candle because it didn't close higher than the previous one.. Stuff...
Sometimes that EMA can be tricky, I'm also watching to see how much volume is in the market at that time.

HOLLA
  • #12,760
  • May 19, 2009 8:13pm May 19, 2009 8:13pm
Quoting PippiNole
Guys notice how when EJ made its move down through the ma's the next candle retested and came down 60+ pips.
That happens over and over again those are the ones I am trying to take.. You have the one your talking about the retest of the 35/50 the the next candle came back and retested the 5 ema another possible late entry.. The only thing is that the price comes close to but doesn't always touch them in hind sight as the price moves down and the ma's follow it looks like it was right on it . But it isn't always. So have to take notice and learn which are the better ones. . But ther usually some other supporting factors. the 5 ema retest stopped below that 130.80 support.
Good Trading To All ; Ken Lee
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