Trade what you see NOT what you expect | Page 1057 | Forex Factory

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Trade what you see NOT what you expect

  • #21,121
  • Aug 5, 2009 10:17am Aug 5, 2009 10:17am
Quoting eohater
Just filled an EJ long at 136.50, SL is at 136.20. Targeting 137 My EJ short is still on.
Booked 25 and covered at BE on the rest.
Just digging in the trenches like everyone else!
  • #21,122
  • Aug 5, 2009 10:19am Aug 5, 2009 10:19am
Quoting albchr
So now that we've closed through the 35 again, same rules apply the other way?
Yes, but look to the left at prior PA and find your entry as well.
Just digging in the trenches like everyone else!
  • #21,123
  • Aug 5, 2009 10:22am Aug 5, 2009 10:22am
Quoting terje
4h just closed

I still have some nice positive divergence on 15m though 698x obviously remains another selling area
Please tell me what was the opening price of your prior h4?

Thank you!
Just digging in the trenches like everyone else!
  • #21,124
  • Aug 5, 2009 10:25am Aug 5, 2009 10:25am
Quoting eohater
Please tell me what was the opening price of your prior h4?

Thank you!
open 16991

close 16965.2

no problem
'The past will always show us the future'
  • #21,125
  • Aug 5, 2009 10:27am Aug 5, 2009 10:27am
Quoting terje
open 16991

close 16965.2

no problem
Thank you!
Just digging in the trenches like everyone else!
  • #21,126
  • Aug 5, 2009 10:29am Aug 5, 2009 10:29am
I would like to see a DBHLC on this h4 that closes in 32m. Supports the turn to go south for a deeper push!
Just digging in the trenches like everyone else!
  • #21,127
  • Aug 5, 2009 10:30am Aug 5, 2009 10:30am
Prior PA on the m15 along with the possible shampoo on it shows sellers around 6894.
Just digging in the trenches like everyone else!
  • #21,128
  • Aug 5, 2009 10:31am Aug 5, 2009 10:31am
Quoting eohater
Prior PA on the m15 along with the possible shampoo on it shows sellers around 6894.
This is also supported by Terje's h4 posted and it's opening price of 6991. Price on the working h4 for Terje should go back to this level before continuing south.
Just digging in the trenches like everyone else!
  • #21,129
  • Aug 5, 2009 10:31am Aug 5, 2009 10:31am
Quoting eohater
Yes, but look to the left at prior PA and find your entry as well.
Entry long was at roughly 50% of the previous candle 6972 which was also bottom of the big doji on the left of H&S.

I have found with GU that "most" times, the next candle will retrace the last by roughly a 1/3 or so. From a PA view, this is where I normally look to get in.

Am I correct?
Ghost Rider - WWTBMD?
  • #21,130
  • Aug 5, 2009 10:32am Aug 5, 2009 10:32am
Quoting albchr
Entry was at roughly 50% of the previous candle 6972 which was also bottom of the big doji on the left of H&S.

I have found with GU that "most" times, the next candle will retrace the last by roughly a 1/3 or so. From a PA view, this is where I normally look to get in.

Am I correct?
I would say yes. You will see a round at the bottom wick and then at the base price of the candle.
Just digging in the trenches like everyone else!
  • #21,131
  • Aug 5, 2009 10:37am Aug 5, 2009 10:37am
I just took a short posistion at 90...sl just above 7000
  • #21,132
  • Aug 5, 2009 10:42am Aug 5, 2009 10:42am
here is the picture of the head and shoulder pattern yes agian tilll everyone has memorized.. The right shoulder tends to be a bit lower than the left..



http://www.chartpatterns.com/images/wbghas~1.gif
http://www.chartpatterns.com/images/head2t~1.gif The head and shoulders pattern is generally regarded as a reversal pattern and it is most often seen in uptrends. It is also most reliable when found in an uptrend as well. Eventually, the market begins to slow down and the forces of supply and demand are generally considered in balance. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative buying re-emerges and the market rallies once more, but fails to take out the previous high. (This last top is considered the right shoulder.) Buying dries up and the market tests the downside yet again. Your trendline for this pattern should be drawn from the beginning neckline to the continuing neckline. (Volume has a greater importance in the head and shoulders pattern in comparison to other patterns. Volume generally follows the price higher on the left shoulder. However, the head is formed on diminished volume indicating the buyers aren't as aggressive as they once were. And on the last rallying attempt-the right shoulder-volume is even lighter than on the head, signaling that the buyers may have exhausted themselves.) New selling comes in and previous buyers get out. The pattern is complete when the market breaks the neckline. (Volume should increase on the breakout.)
Good Trading To All ; Ken Lee
  • #21,133
  • Aug 5, 2009 10:58am Aug 5, 2009 10:58am
Quoting Shilva
I just took a short posistion at 90...sl just above 7000
Good job! Book some profit and cover your position then. We could still see 7020.
Just digging in the trenches like everyone else!
  • #21,134
  • Aug 5, 2009 11:02am Aug 5, 2009 11:02am
Quoting eohater
Good job! Book some profit and cover your position then. We could still see 7020.
I would say so. Prevous support at 6974 seems to be holding atm.
Ghost Rider - WWTBMD?
  • #21,135
  • Aug 5, 2009 11:13am Aug 5, 2009 11:13am
Quoting Shilva
I just took a short posistion at 90...sl just above 7000
Stop hit +2...never let a good trade go bad!
  • #21,136
  • Aug 5, 2009 11:14am Aug 5, 2009 11:14am
Quoting Shilva
Stop hit +2...never let a good trade go bad!
my long from earlier likes it!
  • #21,137
  • Aug 5, 2009 11:14am Aug 5, 2009 11:14am
Quoting Shilva
Stop hit +2...never let a good trade go bad!
You booked some on top of that +2 right? 7010-7020 and shorts will come with a furry!
Just digging in the trenches like everyone else!
  • #21,138
  • Aug 5, 2009 11:16am Aug 5, 2009 11:16am
Quoting eohater
You booked some on top of that +2 right? 7010-7020 and shorts will come with a furry!
What I'm hoping for.
Ghost Rider - WWTBMD?
  • #21,139
  • Aug 5, 2009 11:16am Aug 5, 2009 11:16am
Quoting eohater
Good job! Book some profit and cover your position then. We could still see 7020.
That was a good "heads-up".

Speaking of heads-up, is this a formation of a "heads-down",
as in a reverse H/S?

Dr. D.

  • #21,140
  • Aug 5, 2009 11:19am Aug 5, 2009 11:19am
Still holding long 6972, 1/2 booked 6999, covered rest BE+1
Ghost Rider - WWTBMD?
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