Trade what you see NOT what you expect | Page 1096 | Forex Factory

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Why did you start trading and what do you expect from it? 19 replies

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Trade what you see NOT what you expect

  • #21,901
  • Aug 10, 2009 6:16am Aug 10, 2009 6:16am
Morning, fellows

Missed the circled area for short - bounce off 21 ma, 38.2 retracement, Euro indexes down.
Two options:
1 - GU pulls back to 10ma, and short it there
2 - GU formes Double bottom, so I can long it.

Let's see.
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  • #21,902
  • Aug 10, 2009 6:24am Aug 10, 2009 6:24am
Took a long onn the E/J retest off bottom in at 137.85 covered at +12 stop Still other side of bottom for now.. Risk and Stress Free trade

If you scroll back on your charts you will see that about this time of day a Turning point is reached and we can get in at the top or bottom of that swing. Happens time and again.. So I have gotten where I am willing to take the leap of faith. Althouigh Price action did lead the way. +18 now..
+20 ...
Good Trading To All ; Ken Lee
  • #21,903
  • Aug 10, 2009 6:31am Aug 10, 2009 6:31am
Quoting KENNETH lEE
Took a long onn the E/J retest off bottom in at 137.85 covered at +12 stop Still other side of bottom for now.. Risk and Stress Free trade

If you scroll back on your charts you will see that about this time of day a Turning point is reached and we can get in at the top or bottom of that swing. Happens time and again.. So I have gotten where I am willing to take the leap of faith. Althouigh Price action did lead the way. +18 now..
+20 ...
Looks like you've had a great start to the week Ken. Good trading

Macc
  • #21,904
  • Aug 10, 2009 6:42am Aug 10, 2009 6:42am
Quoting macc
Looks like you've had a great start to the week Ken. Good trading

Macc
Thanks .... Hope we all kick some butt and take some pips..

I think maybe some of this has finally absorded into the last bit of moist gray matter I own ... You get old everything dries up.. You would think after months of posting charts and instructions I would be the Cats Meow.. ( Really Good ).

My scalpers mentality kicked in and I closed my long at +20... I tend to be carefull when we have to cross the 35/50.. oh well Positive is all good.
Good Trading To All ; Ken Lee
  • #21,905
  • Aug 10, 2009 6:43am Aug 10, 2009 6:43am
I'm expecting price to ultimately test the previous horizontal resistance, now turned support (black dotted line) or the red trend line. Let's see how it plays.
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  • #21,906
  • Aug 10, 2009 6:45am Aug 10, 2009 6:45am
Quoting KENNETH lEE
Thanks .... Hope we all kick some butt and take some pips..

I think maybe some of this has finally absorded into the last bit of moist gray matter I own ... You get old everything dries up.. You would think after months of posting charts and instructions I would be the Cats Meow.. ( Really Good ).

My scalpers mentality kicked in and I closed my long at +20... I tend to be carefull when we have to cross the 35/50.. oh well Positive is all good.
  • #21,907
  • Aug 10, 2009 6:56am Aug 10, 2009 6:56am
Quoting GodfreyH
I'm expecting price to ultimately test the previous horizontal resistance, now turned support (black dotted line) or the red trend line. Let's see how it plays.

I have that 1.655X area as Support also plus my trendline and the 150 EMA on the 4 hr intersect in that area.. Have to watch that closelly..


Thanks for your chart and analysis...
Good Trading To All ; Ken Lee
  • #21,908
  • Aug 10, 2009 8:01am Aug 10, 2009 8:01am
Quoting KENNETH lEE
I have that 1.655X area as Support also plus my trendline and the 150 EMA on the 4 hr intersect in that area.. Have to watch that closelly..


Thanks for your chart and analysis...
Can we get below 6550?
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  • #21,909
  • Edited 8:11am Aug 10, 2009 8:10am | Edited 8:11am
Here are a couple of longs on the E/J I have taken. I should have reversed my trade at the test and failure of the 35/50 area but just closed. It was the better trade as we had a lower low and with the failure of the 35/50 a lower High indicating further downside and it did make a new low. Which stopped at the 200 sma 15 min. Or the 62 ema 1 Hr. Which I also Took for a small gain. Darn Scalper... wasn't happy with my entry a little early..


Oops forgot thr chart
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Good Trading To All ; Ken Lee
  • #21,910
  • Aug 10, 2009 8:29am Aug 10, 2009 8:29am
Quoting eohater
I'm sorry I don't trade the m5, but it sounds like you let one candle close into the 21ema, then the next candle be a bearish engulfing candle, then you entered. If this is the case, you missed your entry by 1 candle. Your entry should have been after the candle closed on the 21ema.

Hope this helps, if not, please post a chart showing when you entered.
Thanks for your advice, usually i trade in the same direction of the pair, on H1 bearish, than i short cable, i add more short after another bearish engulfing candle at 6642 ...i will close my position between 6555 and 6545 (if cable go there).
Trade with the momentum
  • #21,911
  • Aug 10, 2009 8:41am Aug 10, 2009 8:41am
EO et al;

First post! Have been a lurker here for past few weeks. Staggered by the quality of professional support and leadership here. Am not [yet] in a position to contribute meaningfully - still learning the ropes!

Time zone is my biggest challenge - i am Dubai based - and the quality posts tend to start rolling in just as i am thinking of opening one of them cans!

But thanks for your leadership and thoughtful contributions!

cheers!
  • #21,912
  • Aug 10, 2009 8:47am Aug 10, 2009 8:47am
Good morning everyone! I hope many of you are in positive trades atm.
Just digging in the trenches like everyone else!
  • #21,913
  • Aug 10, 2009 8:50am Aug 10, 2009 8:50am
All the charts I have and the one Komissar posted this morning. Show us 2 things actually. They were posted showing places to enter trades. But they also show places to scale in or out if you are managing a longer term trade. Like if I had still been short from 138.6ish My first trade yesterday evening. Every spot I showed where I went long would be a place to scale out and the places to short chances to add on.

This just shows us that no matter your trading style the ideas and strategies in this thread can work for anyone.. If you are a very aggresive trader enjoy being in trades and have time to be active all the time. It is probablly more profitable to scalp taking all the profits at the swing points on the 15 min chart. As you would go in full size position and close that whole position..

If you don't have the computer time the longer term trading just adjusting your trades when you are available will provide ample profits. Especially once you get comfortable adding back on to your trades. As you see in the thread the best traders us a combination of both. Being in long trades and scalping. But if you are only comfortable trading one style just do that.. There is no wrong way as long as your making profits..


Everyone Have a great day trading Ken
Good Trading To All ; Ken Lee
  • #21,914
  • Aug 10, 2009 8:51am Aug 10, 2009 8:51am
I would really like to see 646x today! That would be just great! I'll be watching my h4 and how we get a close in 2hrs for a possible entry long. Long plays out of this area require your SL on the other side of 6540.
Just digging in the trenches like everyone else!
  • #21,915
  • Aug 10, 2009 8:51am Aug 10, 2009 8:51am
ps. I should have been short on that trade still trading the longs on another account... It will come...
Good Trading To All ; Ken Lee
  • #21,916
  • Aug 10, 2009 8:59am Aug 10, 2009 8:59am
Quoting eohater
.... The 658x-654x area is an area where I see buyers.....
In case anyone missed this post! There's more to it than the excerpt I've included above.
Just digging in the trenches like everyone else!
  • #21,917
  • Aug 10, 2009 9:06am Aug 10, 2009 9:06am
Quoting eohater
In case anyone missed this post! There's more to it than the excerpt I've included above.
I wouldn't mind a zinger trade out of here today near the end of the US Session for a run back to the opening price of last weeks weekly candle. I'm still short on the pair, I reloaded this morning with more soldiers and not in a hurry to rush a long. 6557 is holding atm, but I can see it giving way to the 654x area. If this area does hold for a long, she will give more than one opportunity to get in for a nice run north.
Just digging in the trenches like everyone else!
  • #21,918
  • Aug 10, 2009 9:15am Aug 10, 2009 9:15am
Bloody quiet this morning! Price is working on trying to find a bottom here, that puts the line in the sand on the bottom for me at 6557. A run up to the m15 21/35 would not surprise me if the bottom continues to hold. This will bring more sellers into the situation.
Just digging in the trenches like everyone else!
  • #21,919
  • Aug 10, 2009 9:29am Aug 10, 2009 9:29am
Quoting eohater
Bloody quiet this morning! Price is working on trying to find a bottom here, that puts the line in the sand on the bottom for me at 6557. A run up to the m15 21/35 would not surprise me if the bottom continues to hold. This will bring more sellers into the situation.
I wanted to go long but the last two closed 15 min candles look short to me so I will wait.
Please ask questions and share your experiences with us all!
  • #21,920
  • Aug 10, 2009 9:31am Aug 10, 2009 9:31am
Quoting eohater
My Brother!

658x is the area that I have as well. I will see you in the US Session.
Patience + Discipline - Greed = Success
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