Trade what you see NOT what you expect | Page 988 | Forex Factory

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Trade what you see NOT what you expect

  • #19,741
  • Jul 23, 2009 11:19am Jul 23, 2009 11:19am
Thanks for the chart but I'm more interested to know why this 580 area was targeted rather than the top of the channel which I thought it could have run to. Any idea?
'The past will always show us the future'
  • #19,742
  • Jul 23, 2009 11:19am Jul 23, 2009 11:19am
Quoting davids
closed my short from 1.6578 and am now long from 1.6505
Same price I got in long at. Good job bro! Love the 15m 35/50 cross and reverse trade. Good job on your shorts as well.
Just digging in the trenches like everyone else!
  • #19,743
  • Jul 23, 2009 11:21am Jul 23, 2009 11:21am
Quoting terje
Thanks for the chart but I'm more interested to know why this 580 area was targeted rather than the top of the channel which I thought it could have run to. Any idea?
Did you notice the horizontal resistance line I had on the chart for you?
  • #19,744
  • Jul 23, 2009 11:22am Jul 23, 2009 11:22am
Quoting terje
Thanks for the chart but I'm more interested to know why this 580 area was targeted rather than the top of the channel which I thought it could have run to. Any idea?
Have a look at where I've drawn circles on my h4. You can see the sellers waiting there.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.PNG Size: 68 KB
Just digging in the trenches like everyone else!
  • #19,745
  • Jul 23, 2009 11:23am Jul 23, 2009 11:23am
Quoting PippiNole
Did you notice the horizontal resistance line I had on the chart for you?
yes I had my own drawn, and as far as I can see there were a couple other horizontal possibilities there, so it doesn't answer the question.
'The past will always show us the future'
  • #19,746
  • Jul 23, 2009 11:23am Jul 23, 2009 11:23am
Quoting eohater
Same price I got in long at. Good job bro! Love the 15m 35/50 cross and reverse trade. Good job on your shorts as well.
Thanks Bro it concerns that I am starting to think like you

Good Job on your trades too
  • #19,747
  • Jul 23, 2009 11:24am Jul 23, 2009 11:24am
Quoting PippiNole
Did you notice the horizontal resistance line I had on the chart for you?
Exactly bro! Thank you for your chart. I don't have the channel on mine, but I've been lazy this week with my trendlines and channels. Too busy of a weekend.
Just digging in the trenches like everyone else!
  • #19,748
  • Jul 23, 2009 11:24am Jul 23, 2009 11:24am
Quoting eohater
Have a look at where I've drawn circles on my h4. You can see the sellers waiting there.
thanks. It makes sense, I know you can't be pinpoint exact with these numbers -- give or take 10-30pips maybe. I was just curious why there rather than a bit higher to the top of the drawn channel. I suppose the round number of 600 might have played a part as well.
'The past will always show us the future'
  • #19,749
  • Jul 23, 2009 11:26am Jul 23, 2009 11:26am
I see that old granny EUless is holding us back here
  • #19,750
  • Jul 23, 2009 11:35am Jul 23, 2009 11:35am
Quoting davids
I see that old granny EUless is holding us back here
Don't feel bad I been trying to go short e/j all afternoon the Usd/Jpy seems to be in control. Or the YEN I should say. I think it will drift on down towards asian session. might just leave it be.
Good Trading To All ; Ken Lee
  • #19,751
  • Jul 23, 2009 11:37am Jul 23, 2009 11:37am
E/J making another run at 135.00 GO Baby GO !!!
Good Trading To All ; Ken Lee
  • #19,752
  • Jul 23, 2009 11:40am Jul 23, 2009 11:40am
Quoting KENNETH lEE
Don't feel bad I been trying to go short e/j all afternoon the Usd/Jpy seems to be in control. Or the YEN I should say. I think it will drift on down towards asian session. might just leave it be.
I agree usdjpy seems to in control today. I think there overall more demand for dollars than euro's which has been dragging ej and cable all over the place

Eu keeps bouncing off the bottom of the channel on the 15
  • #19,753
  • Jul 23, 2009 11:47am Jul 23, 2009 11:47am
Quoting davids
I agree usdjpy seems to in control today. I think there overall more demand for dollars than euro's which has been dragging ej and cable all over the place

Eu keeps bouncing off the bottom of the channel on the 15

Yes I see that channel... tomorrow the REAL news will come out and they will get a rude awakening.. Unemployment rolls are down because so many people's benefits have expired. And the reason these companies are showing profits are because they have cut overhead (Jobs)..

Everyone one wants to believe though. The Kings clothes look nice.
Good Trading To All ; Ken Lee
  • #19,754
  • Jul 23, 2009 11:49am Jul 23, 2009 11:49am
Quoting KENNETH lEE
Yes I see that channel... tomorrow the REAL news will come out and they will get a rude awakening.. Unemployment rolls are down because so many people's benefits have expired. And the reason these companies are showing profits are because they have cut overhead (Jobs)..

Everyone one wants to believe though. The Kings clothes look nice.
I totally agree with you Ken!
Just digging in the trenches like everyone else!
  • #19,755
  • Jul 23, 2009 11:51am Jul 23, 2009 11:51am
I see EJ a little bit differently and quite orderly since yesterday. I am looking at the 1hr chart and we have a nice 100+ pip move up from 132 area then a 50 pip or so consolidation with the 132.90-133.00 as support and then a similar move up to the 134 area with another 50 pip consolidation and this morning up to the 135 area and some consolidation.
  • #19,756
  • Jul 23, 2009 11:51am Jul 23, 2009 11:51am
Quoting terje
thanks. It makes sense, I know you can't be pinpoint exact with these numbers -- give or take 10-30pips maybe. I was just curious why there rather than a bit higher to the top of the drawn channel. I suppose the round number of 600 might have played a part as well.
The 6000 mark is a pshycological mark because of the round number factor alone. Your right, I cannot be pinpoint, but usually within 20 pips. When I took the short, my SL was over 6020.
Just digging in the trenches like everyone else!
  • #19,757
  • Jul 23, 2009 11:51am Jul 23, 2009 11:51am
Quoting eohater
I totally agree with you Ken!
Same here I feel there a horror story in the making, and we are being conned
  • #19,758
  • Jul 23, 2009 11:52am Jul 23, 2009 11:52am
Quoting davids
Thanks Bro it concerns that I am starting to think like you

Good Job on your trades too
I think it's great bro! Your getting this system down like PippiNole and many others.
Just digging in the trenches like everyone else!
  • #19,759
  • Jul 23, 2009 11:53am Jul 23, 2009 11:53am
Quoting KENNETH lEE
Yes I see that channel... tomorrow the REAL news will come out and they will get a rude awakening.. Unemployment rolls are down because so many people's benefits have expired. And the reason these companies are showing profits are because they have cut overhead (Jobs)..

Everyone one wants to believe though. The Kings clothes look nice.
I agree also Ken, when I see headlines like this: Dow soars past 9,000 as Investors Cheer...

http://www.cnbc.com/id/32104988

It gets me to thinking...........

HOLLA
  • #19,760
  • Jul 23, 2009 11:56am Jul 23, 2009 11:56am
Quoting PippiNole
I see EJ a little bit differently and quite orderly since yesterday. I am looking at the 1hr chart and we have a nice 100+ pip move up from 132 area then a 50 pip or so consolidation with the 132.90-133.00 as support and then a similar move up to the 134 area with another 50 pip consolidation and this morning up to the 135 area and some consolidation.

So going along with your thoughts a move up to 136.00 is in order..

If it doesn't poke it's nose below 135.00 on the next try I am closing the that position.
Good Trading To All ; Ken Lee
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