Trade what you see NOT what you expect | Page 1070 | Forex Factory

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Trade what you see NOT what you expect

  • #21,381
  • Aug 6, 2009 9:09am Aug 6, 2009 9:09am
Quoting terje
I suppose the next bounce will come at 740-750 which is the 30 June high and 4h 50ema
I'll be watching that area for a buy opportunity. We still have not cleared the m15 35/50 cross and close with price going south more than 35 pips. When it does, price will fall hard again probably into the 674x area. Watch your PA on the lower TF and watch your h4 when it nears it's close (around 30m prior to it's close). Of course, she could just kiss it and run, anything is possible.
Just digging in the trenches like everyone else!
  • #21,382
  • Aug 6, 2009 9:11am Aug 6, 2009 9:11am
GU 1H with a nice bounce off support at 6800 and the 150ema at 6794
Ghost Rider - WWTBMD?
  • #21,383
  • Aug 6, 2009 9:11am Aug 6, 2009 9:11am
Morning troops.

EO, the FTC just came out with their guidelines for oil trading to prevent market manipulation. The rule takes effect 11/1/09 and fines run up to $1 million/day. It'll be interesting to see how this affects oil trading.

Carry on!
Hi, my name is Barry and you can keep your doctor...
  • #21,384
  • Aug 6, 2009 9:11am Aug 6, 2009 9:11am
Quoting PippiNole
May I suggest you take a look at the daily chart.
Morning, Pippi

I have a question to you as an expert with EJ.

I saw how Mistress bounced off 200ma on 15M. It happened after pretty good drop.

Question. From your experience, is it reliable setup to catch EJ when it comes down/going up, and testing/touching 200ma?
  • #21,385
  • Aug 6, 2009 9:12am Aug 6, 2009 9:12am
Quoting PippiNole
I knew you'd be on it bro! Good job! I didn't. I had just got to the office, charts up and making posts. No worries. My shorts on GU are doing great with some excellent profit booked and I booked some nice profit on my long position that I added to on her as well. It's a good day except for the damn cable thread. Let them all scream what they want, price moves in both directions in my eyes. Always has and always will. The only guarantee about direction of price, it's going to move east. Thus, our system was born, using our PA, HTF, S/R and entry on the lower TF. Oh, but wait a minute, we're only good for 10 pips, DAMNIT I keep breaking that rule.
Just digging in the trenches like everyone else!
  • #21,386
  • Aug 6, 2009 9:14am Aug 6, 2009 9:14am
Quoting cisco
Morning troops.

EO, the FTC just came out with their guidelines for oil trading to prevent market manipulation. The rule takes effect 11/1/09 and fines run up to $1 million/day. It'll be interesting to see how this affects oil trading.

Carry on!
WOW! That's a hefty fine! I'm glad I've already got my positions and covered nice and green. I was thinking on the way in on booking some profit on it, so I think I'll do just that.
Just digging in the trenches like everyone else!
  • #21,387
  • Aug 6, 2009 9:16am Aug 6, 2009 9:16am
Quoting eohater
I knew you'd be on it bro!...
I must confess I have violated the rule a time or two. I got most of this short based on the resistance on my daily chart and I still have a few headed that way.
  • #21,388
  • Aug 6, 2009 9:18am Aug 6, 2009 9:18am
Quoting PippiNole
I must confess I have violated the rule a time or two. I got most of this short based on the resistance on my daily chart and I still have a few headed that way.
I saw the resistance on the daily as well, but I over extended it into 139.2x. Shit happens! You know I have a hard time intraday trading both girls.
Just digging in the trenches like everyone else!
  • #21,389
  • Aug 6, 2009 9:18am Aug 6, 2009 9:18am
Quoting Komissar
Morning, Pippi

I have a question to you as an expert with EJ.

I saw how Mistress bounced off 200ma on 15M. It happened after pretty good drop.

Question. From your experience, is it reliable setup to catch EJ when it comes down/going up, and testing/touching 200ma?
Most of the time it is good for a bounce if nothing else but I really try to judge the movement before taking the trade.
  • #21,390
  • Aug 6, 2009 9:19am Aug 6, 2009 9:19am
Quoting eohater
I cannot see it so easily right now, but it's still there, just like 7080 is still there for GU. We will probably experience a shit load of risk aversion today which will strengthen the dollar and the yen.

I can see a setup brewing on EJ though for a long from the 137.00 area w/ SL just below around 136.85.

It's all still there, as you thread name suggest trade what you see.

At the time of your post, what could be seen was a uptrend, so holding longs for a unknown price and profit ( hopefully 100's ) was on the cards.

Sadly, it's turned bearish and has grown some teeth and what we are seeing is selling and DOWN!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #21,391
  • Aug 6, 2009 9:21am Aug 6, 2009 9:21am
Quoting PippiNole
I must confess I have violated the rule a time or two. I got most of this short based on the resistance on my daily chart and I still have a few headed that way.
Alas, I'm still a law abiding trader....

But I'm working on becoming a rule breaking thief...
Ghost Rider - WWTBMD?
  • #21,392
  • Aug 6, 2009 9:21am Aug 6, 2009 9:21am
Quoting eohater
I saw the resistance on the daily as well, but I over extended it into 139.2x. Shit happens! You know I have a hard time intraday trading both girls.
No biggy I missed the top myself because I was playing man slave in the kitchen. If I ever had a man card I may have just lost it.
  • #21,393
  • Aug 6, 2009 9:22am Aug 6, 2009 9:22am
Quoting eohater
I saw the resistance on the daily as well, but I over extended it into 139.2x. Shit happens! You know I have a hard time intraday trading both girls.

You can't win them all, waiiting for it too calm down abit.


I got in big near 137.00 for the first bounce and got out near the top so made my wage for the day in sub 5mins

Weird mental block about trading down markets, strange as I used to short everything and lose ohhhhh thats it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #21,394
  • Aug 6, 2009 9:24am Aug 6, 2009 9:24am
Quoting PippiNole
Most of the time it is good for a bounce if nothing else but I really try to judge the movement before taking the trade.
Thanks.
I'll definetely will estimate my trade based not only this 200ma touch criteria, but others factors too.
  • #21,395
  • Aug 6, 2009 9:24am Aug 6, 2009 9:24am
Quoting Turveyd
You can't win them all, waiiting for it too calm down abit.


I got in big near 137.00 for the first bounce and got out near the top so made my wage for the day in sub 5mins

Weird mental block about trading down markets, strange as I used to short everything and lose ohhhhh thats it
I got a position filled at 136.95, SL is at 136.80.
Just digging in the trenches like everyone else!
  • #21,396
  • Aug 6, 2009 9:25am Aug 6, 2009 9:25am
Quoting PippiNole
No biggy I missed the top myself because I was playing man slave in the kitchen. If I ever had a man card I may have just lost it.
Brother, I think your man card was revoked a cpl of weeks ago when you had your low carb lunch.

I do praise you for taking care of your health bro!
Just digging in the trenches like everyone else!
  • #21,397
  • Aug 6, 2009 9:26am Aug 6, 2009 9:26am
Quoting eohater
I got a position filled at 136.95, SL is at 136.80.
I'm in 137.07 same SL

Also 6808 GU SL 6784
Ghost Rider - WWTBMD?
  • #21,398
  • Aug 6, 2009 9:27am Aug 6, 2009 9:27am
Quoting Turveyd
You can't win them all, waiiting for it too calm down abit.


I got in big near 137.00 for the first bounce and got out near the top so made my wage for the day in sub 5mins

Weird mental block about trading down markets, strange as I used to short everything and lose ohhhhh thats it
BTW, Good job on making yoru wage for the day in sub 5mins! Now you have the rest of the day free.
Just digging in the trenches like everyone else!
  • #21,399
  • Aug 6, 2009 9:28am Aug 6, 2009 9:28am
Quoting albchr
I'm in 137.07 same SL
Welcome aboard, I'd like to see 137.7x to get back short on her ass.
Just digging in the trenches like everyone else!
  • #21,400
  • Aug 6, 2009 9:28am Aug 6, 2009 9:28am
I don't think it will effect you ... Might still hold on to them as part of your inheritance to your kids..

(IGM)[OIL] smashed to see NYMEX plunge over Usd 1 to a new session low at Usd 70.22 as the US...

[OIL] smashed to see NYMEX plunge over Usd 1 to a new session low at Usd 70.22 as the US FTC (Federal Trade Commission) issues a final rule to punish oil mkt manipulators at the whole sales level and face fines potentially up to Usd 1 mn a day. The violations includes false notice, data reporting, and output decisions in an attempt to disguise mkt liquidity. The tightening comes into force on Nov 04. This new rule represents a tightening up on the existing code and comes as the CFTC/SEC is examining tighter regulation for commodity futs,
Good Trading To All ; Ken Lee
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