Trade what you see NOT what you expect | Page 931 | Forex Factory

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Trade what you see NOT what you expect

  • #18,601
  • Jul 14, 2009 4:22am Jul 14, 2009 4:22am
Quoting BenScoobert
here's my H1 to start us off today, if this holds we are 10-15 pips from the top, if not im not sure how high we go
The previous day candle was a hammer and for today we have already retraced to the 5-sma, and I find that generally if the day retraces to its 5-sma and pulls all the way back to form a wick, it doesn't return, it continues in the direction.

Also Here's an hour chart based on horizontal resistance/ supports. I have highlighted the 1.6290 area, because it is a strong resistance. hopefully it will become a strong support. I am long from 1.6260 targeting 1.6350-70 area. But we need a candlestick to escape the 1.6300 area clutches. I'll cover if I see any funny business.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd_day.gif Size: 27 KB
  • #18,602
  • Jul 14, 2009 4:41am Jul 14, 2009 4:41am
Quoting GodfreyH
The previous day candle was a hammer and for today we have already retraced to the 5-sma, and I find that generally if the day retraces to its 5-sma and pulls all the way back to form a wick, it doesn't return, it continues in the direction.

Also Here's an hour chart based on horizontal resistance/ supports. I have highlighted the 1.6290 area, because it is a strong resistance. hopefully it will...
Gu is struggling to get past 1.6311 the R1 resistance I was long from 1.6245 but got stopped out for 47 back in again at 1.6289
  • #18,603
  • Jul 14, 2009 4:43am Jul 14, 2009 4:43am
Quoting GodfreyH
The previous day candle was a hammer and for today we have already retraced to the 5-sma, and I find that generally if the day retraces to its 5-sma and pulls all the way back to form a wick, it doesn't return, it continues in the direction.

Also Here's an hour chart based on horizontal resistance/ supports. I have highlighted the 1.6290 area, because it is a strong resistance. hopefully it will become a strong support. I am long from 1.6260 targeting 1.6350-70 area. But we need a candlestick to escape the 1.6300 area clutches. I'll cover if I...
Hi Godfrey,


thanx for the quick view..I am on the same boat with you, and now hoping that our last H1 candle doji is a confirmation candle for a breakout..
  • #18,604
  • Jul 14, 2009 4:45am Jul 14, 2009 4:45am
Quoting davids
Gu is struggling to get past 1.6311 the R1 resistance I was long from 1.6245 but got stopped out for 47 back in again at 1.6289
Hi Davids,

what do you think about that doji...Is it means something in your eyes?
  • #18,605
  • Jul 14, 2009 4:53am Jul 14, 2009 4:53am
Quoting Isty
Hi Davids,

what do you think about that doji...Is it means something in your eyes?
I took it to be indecision from the market
  • #18,606
  • Jul 14, 2009 4:56am Jul 14, 2009 4:56am
Quoting BenScoobert
here's my H1 to start us off today, if this holds we are 10-15 pips from the top, if not im not sure how high we go
Hi Ben,


How are you doing? I had such a bad day as well yestreday..Whatever i did went against me, and closed the day with loss..But we have to be strong and keep this hard job up...and i think the success coming one day...
  • #18,607
  • Jul 14, 2009 5:01am Jul 14, 2009 5:01am
Quoting davids
I took it to be indecision from the market
thanx may be the fears of the weak ZEW data made the market indecisive..
  • #18,608
  • Jul 14, 2009 5:07am Jul 14, 2009 5:07am
I see we just made a higher high on GU I have also gone long on EJ based off the bullish hammer on EU 15m
  • #18,609
  • Jul 14, 2009 5:10am Jul 14, 2009 5:10am
Good morning everyone...Keep in mind we are up against the 4h 200sma and 100sma....they might prove to be strong support...imho
  • #18,610
  • Jul 14, 2009 5:35am Jul 14, 2009 5:35am
Quoting Isty
Hi Ben,


How are you doing? I had such a bad day as well yestreday..Whatever i did went against me, and closed the day with loss..But we have to be strong and keep this hard job up...and i think the success coming one day...
after yesterday i have decided not to trade manually on my live account for a while
it seems whatever i do the market goes against me, and im not just talking about yesterday, my account is now 1/3 its original size, whilst it isnt a big account I am still in training for my job and the salary doesnt go up until the end of september, so i wont be topping it up

im have some nice success with EA trading, see the grail one in my sig

maybe im better at setting up rules and letting the computer trade them to the letter because my own discretion seems to just f**k things up

I have some books to read and i will still be on this thread trading a demo account manually, i like what i see in this thread and i want to "get it" but being brutally honest to myself, at the moment im not getting it
  • #18,611
  • Jul 14, 2009 5:53am Jul 14, 2009 5:53am
Quoting BenScoobert
after yesterday i have decided not to trade manually on my live account for a while
it seems whatever i do the market goes against me, and im not just talking about yesterday, my account is now 1/3 its original size, whilst it isnt a big account I am still in training for my job and the salary doesnt go up until the end of september, so i wont be topping it up

im have some nice success with EA trading, see the grail one in my sig

maybe im better at setting up rules and letting the computer trade them to the letter because my own discretion seems...
i can understand you,because i am nearly in the same shoes..I saw your results of EA trading,which are very nice..But i prefer trading manually even with smaller size just to get to use to the stress and all the situations. That is why it is better to not hang too much time on the demo account, because that does not make you to decide the same way...that is what i think about that...I really wanna make money and become a professional, like the old tigers in this thread...so do not give it up,please!!! just give an other chance for you
  • #18,612
  • Jul 14, 2009 5:58am Jul 14, 2009 5:58am
Quoting Isty
i can understand you,because i am nearly in the same shoes..I saw your results of EA trading,which are very nice..But i prefer trading manually even with smaller size just to get to use to the stress and all the situations. That is why it is better to not hang too much time on the demo account, because that does not make you to decide the same way...that is what i think about that...I really wanna make money and become a professional, like the old tigers in this thread...so do not give it up,please!!! just give an other chance for you
I know what you mean, demo is very different but i have to do this for now.
My funds are limited right now and it would be foolish to use money i need for bills, etc.

It gives me time to work on a few things, I have a reverse logic martingale system i need to put some time into.
  • #18,613
  • Jul 14, 2009 6:06am Jul 14, 2009 6:06am
Quoting BenScoobert
I know what you mean, demo is very different but i have to do this for now.
My funds are limited right now and it would be foolish to use money i need for bills, etc.

It gives me time to work on a few things, I have a reverse logic martingale system i need to put some time into.
I got it mate,

wish you the best....
  • #18,614
  • Jul 14, 2009 6:45am Jul 14, 2009 6:45am
Morning, fellows
Took long from 6321 - bounce off 10ma. Grabbed 20, and covered BE.
But it looks like it's gonna stop me soon.
Whatever!
Next setup, please.
  • #18,615
  • Jul 14, 2009 6:52am Jul 14, 2009 6:52am
Seem to be encountering some turbulence here:
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  • #18,616
  • Jul 14, 2009 6:53am Jul 14, 2009 6:53am
Took a short here based off the 4 hr S/R area's and previous shooting star.

Should have gotten a better entry but it was...1.6329
Good Trading To All ; Ken Lee
  • #18,617
  • Jul 14, 2009 8:08am Jul 14, 2009 8:08am
Good morning everyone! I hope everyone has bagged some pippage. I'm on the long bus, pippage bagged and covered.
Just digging in the trenches like everyone else!
  • #18,618
  • Jul 14, 2009 8:18am Jul 14, 2009 8:18am
Quoting eohater
Good morning everyone! I hope everyone has bagged some pippage. I'm on the long bus, pippage bagged and covered.
Just jumped on a long with the spike thru the 15m 35/50 and eyeballing 1.6440 for t/p
Please ask questions and share your experiences with us all!
  • #18,619
  • Jul 14, 2009 8:18am Jul 14, 2009 8:18am
We break 6346 (ASK) we will see 639x, then 642x.
Just digging in the trenches like everyone else!
  • #18,620
  • Jul 14, 2009 8:20am Jul 14, 2009 8:20am
Quoting bkg102665
Just jumped on a long with the spike thru the 15m 35/50 and eyeballing 1.6440 for t/p
That's a good area your looking at there!
Just digging in the trenches like everyone else!
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