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Trade what you see NOT what you expect

  • #21,761
  • Aug 7, 2009 10:51am Aug 7, 2009 10:51am
Quoting albchr
Yep, and 3 pips higher. ANd now she'll freaking plumit.
Ok. Now, let me tell you what I saw. The pin showed the sellers at this area. The buyers were not willing to give it up and pushed price off the m15 5. Price definately did go up the wick and even higher, but closed under the wick of the pin in question. I'll short off of that w/ SL over the wick around 20-25pips higher than the wick. Price will, does and can overshoot, we're only concerned about the closed price.
Just digging in the trenches like everyone else!
  • #21,762
  • Aug 7, 2009 10:54am Aug 7, 2009 10:54am
Quoting eohater
Ok. Now, let me tell you what I saw. The pin showed the sellers at this area. The buyers were not willing to give it up and pushed price off the m15 5. Price definately did go up the wick and even higher, but closed under the wick of the pin in question. I'll short off of that w/ SL over the wick around 20-25pips higher than the wick. Price will, does and can overshoot, we're only concerned about the closed price.
OK....Gotcha...
Ghost Rider - WWTBMD?
  • #21,763
  • Aug 7, 2009 10:56am Aug 7, 2009 10:56am
Quoting eohater
I would like the working h1 on EJ to close below 138.54. Can anyone sell me why?
It'll be below the wick of the last 3 h1 highs and signify the strength of the sellers and their desire to regain control for the interim. We can all see price at a battle right now.
Just digging in the trenches like everyone else!
  • #21,764
  • Aug 7, 2009 10:56am Aug 7, 2009 10:56am
Quoting eohater
Ok. Now, let me tell you what I saw. The pin showed the sellers at this area. The buyers were not willing to give it up and pushed price off the m15 5. Price definately did go up the wick and even higher, but closed under the wick of the pin in question. I'll short off of that w/ SL over the wick around 20-25pips higher than the wick. Price will, does and can overshoot, we're only concerned about the closed price.

That is a add on to the statement yesterday. Where you said:

PRIME EXAMPLE HERE. We cannot trade the working candles, only the prior closed candles. Working candles will show one flight and then change in a blink of an eye before you know what happened. I've seen h1 pin/hammers that had 15m left in formation complete to be a bearish candle and continue on. Traders start getting edgy when they see the h1 pin/hammer and feel like they're going to miss their seat, so they jump 15m early thinking they got on ahead of others, when after they get on their sitting their and realize the bus is empty and everyone else got on the other one.

So, we go to our lower TF, m15 and see what price is doing and why. If the h1 does close like a pin/hammer, can we get in on a little pullback or should we just go ahead and claim our seat now.

This is how you put all the TF together. Same goes with h4 and the m15 candles.
Good Trading To All ; Ken Lee
  • #21,765
  • Aug 7, 2009 10:59am Aug 7, 2009 10:59am
Quoting eohater
It'll be below the wick of the last 3 h1 highs and signify the strength of the sellers and their desire to regain control for the interim. We can all see price at a battle right now.
The high on my "third" 1H candle back is 138.50?
Ghost Rider - WWTBMD?
  • #21,766
  • Aug 7, 2009 11:00am Aug 7, 2009 11:00am
Quoting eohater
I would like the working h1 on EJ to close below 138.54. Can anyone sell me why?
Got the close I wanted on the h1!
Just digging in the trenches like everyone else!
  • #21,767
  • Aug 7, 2009 11:02am Aug 7, 2009 11:02am
Quoting eohater
Got the close I wanted on the h1!
And the sellers keep marching on!

I really like the selling going on with my GU short position. I wish I had more than 1 freakin soldier on it.
Just digging in the trenches like everyone else!
  • #21,768
  • Aug 7, 2009 11:04am Aug 7, 2009 11:04am
Quoting albchr
The high on my "third" 1H candle back is 138.50?
All our data feeds are going to be different by a few pips. Mine was 138.54, thus why to me, I wanted that price. Regardless, did you last h1 close under your last 3 h1 highs? Did you git an inverted hammer on the h1? Sellers will sell the wick of the h1 inverted hammer. Buyers will not let go easily, but sellers will jump on it as well when we get about half way up the wick.
Just digging in the trenches like everyone else!
  • #21,769
  • Aug 7, 2009 11:05am Aug 7, 2009 11:05am
Scalping aint right Took 10 pips off the cable from the 10 ema . Didn't want 2 positions open at the same time as I have my risk tied up in the E/J trade and the gbp goes almost straight down 50 pips ... I could have left 1 mini on it.. who's got the stick ... Wack Wack !!
Good Trading To All ; Ken Lee
  • #21,770
  • Aug 7, 2009 11:08am Aug 7, 2009 11:08am
Quoting KENNETH lEE
Scalping aint right Took 10 pips off the cable from the 10 ema . Didn't want 2 positions open at the same time as I have my risk tied up in the E/J trade and the gbp goes almost straight down 50 pips ... I could have left 1 mini on it.. who's got the stick ... Wack Wack !!
Next TP on my EJ short is at 138.20.

Sorry guys, I'm not intraday trading GU today. My short position will run til the end of day. If anyone has questions about GU, let me know, I'll jumpo over and check it out. I'm only watching price of her on my trading platform.
Just digging in the trenches like everyone else!
  • #21,771
  • Aug 7, 2009 11:08am Aug 7, 2009 11:08am
Next battle not to jump out of the E/J trade once it goes positive ... or If I do leave a little on it to run. internal conflicts abound...

You guys are cheaper than therapy..
Good Trading To All ; Ken Lee
  • #21,772
  • Aug 7, 2009 11:11am Aug 7, 2009 11:11am
Damn looks like you guys have been GBing the Mistress while I was away. I got back in at .61 and have been catching up on the thread.

No crown yet today but I think 5 oclock is very close.
  • #21,773
  • Aug 7, 2009 11:13am Aug 7, 2009 11:13am
Quoting eohater
All our data feeds are going to be different by a few pips. Mine was 138.54, thus why to me, I wanted that price. Regardless, did you last h1 close under your last 3 h1 highs? Did you git an inverted hammer on the h1? Sellers will sell the wick of the h1 inverted hammer. Buyers will not let go easily, but sellers will jump on it as well when we get about half way up the wick.

Yes I did to both. See, being used to the 1H, that hammer is what I would normally play.
Ghost Rider - WWTBMD?
  • #21,774
  • Aug 7, 2009 11:18am Aug 7, 2009 11:18am
Quoting PippiNole
Damn looks like you guys have been GBing the Mistress while I was away. I got back in at .61 and have been catching up on the thread.

No crown yet today but I think 5 oclock is very close.
I've been having fun with her today. My accounts were busy with the Mrs. (short still with a position and I had a long position on as well) Didn't want to jump back into an intraday trade with her, so I decided to play with the mistress. She's been good today. A little naughty. She just missed one of my TP targets be 2 pips, but she'll come back down here and get it.
Just digging in the trenches like everyone else!
  • #21,775
  • Aug 7, 2009 11:20am Aug 7, 2009 11:20am
Quoting albchr
Yes I did to both. See, being used to the 1H, that hammer is what I would normally play.
Since your used to h1/h4 charts, now you should start seeing how they are comprised with the m15 charts. This is how we get in at the top of the pin/hammers, small draw downs, TP's target our MA's and cover our ass. You'll get it bro!

It takes 4 m15 candles to comprise and hour, so 16 m15 candles to comprise an h4.
Just digging in the trenches like everyone else!
  • #21,776
  • Aug 7, 2009 11:20am Aug 7, 2009 11:20am
Hi All

Have not traded much today as I have a friend here from the US did get lucky on a GY traded off the 1H support which was covered and shot up 300 odd pips after NFP.

Did a bit of Selling on GU as well earlier, anyway I just popped in to wish everyone a fantastic weekend and lots of green pips.

Still sorting out a lot of my old business so I will not be around much early part of next week

Cheers
David
  • #21,777
  • Aug 7, 2009 11:24am Aug 7, 2009 11:24am
Quoting eohater
Next TP on my EJ short is at 138.20.
...
Not being greedy, booked some here at 138.25. SL is at +3, next TP set for 138.10
Just digging in the trenches like everyone else!
  • #21,778
  • Aug 7, 2009 11:26am Aug 7, 2009 11:26am
Quoting eohater
I've been having fun with her today. My accounts were busy with the Mrs. (short still with a position and I had a long position on as well) Didn't want to jump back into an intraday trade with her, so I decided to play with the mistress. She's been good today. A little naughty. She just missed one of my TP targets be 2 pips, but she'll come back down here and get it.
I made some nice pips on her with my short from .47 earlier before I went out and set stop at BE. When I got back I saw that nice little red IB and got in up the body on it. 38 in the bank and covered now.
  • #21,779
  • Aug 7, 2009 11:30am Aug 7, 2009 11:30am
Quoting davids
Hi All

Have not traded much today as I have a friend here from the US did get lucky on a GY traded off the 1H support which was covered and shot up 300 odd pips after NFP.

Did a bit of Selling on GU as well earlier, anyway I just popped in to wish everyone a fantastic weekend and lots of green pips.

Still sorting out a lot of my old business so I will not be around much early part of next week

Cheers
David
Nice trading David.

Have a great weekend and we will bank some more pips next week.
  • #21,780
  • Aug 7, 2009 11:32am Aug 7, 2009 11:32am
Quoting davids
Hi All

Have not traded much today as I have a friend here from the US did get lucky on a GY traded off the 1H support which was covered and shot up 300 odd pips after NFP.

Did a bit of Selling on GU as well earlier, anyway I just popped in to wish everyone a fantastic weekend and lots of green pips.

Still sorting out a lot of my old business so I will not be around much early part of next week

Cheers
David
Good job David! Enjoy your visit with your friend and take care of your old business. Next week, your journey begins!
Just digging in the trenches like everyone else!
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