Trade what you see NOT what you expect | Page 1123 | Forex Factory

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Trade what you see NOT what you expect

  • #22,441
  • Aug 12, 2009 2:07pm Aug 12, 2009 2:07pm
Quoting eohater
Yes, if we get the h4 close below 6525, it keeps us within the range and she'll continue back south.
I hope it runs on upto 1.6620 we had talked about earlier today

That is now the 4hr 50ma also
Please ask questions and share your experiences with us all!
  • #22,442
  • Aug 12, 2009 2:07pm Aug 12, 2009 2:07pm
Quoting GodfreyH
I went long at the trendline as I figured it would bounce. ...but, what is the usual target for the 35 / 50 cross and reverse?
I target my prior PA, I always book some profit, in this case 20, then the price of the 35/50ma, then manage from there. My final target I'm looking at is 6560 atm and I'll leave 1 runner on the table from 6435.
Just digging in the trenches like everyone else!
  • #22,443
  • Aug 12, 2009 2:07pm Aug 12, 2009 2:07pm
Quoting eohater
Exactly! You have to wait until the candle closes through the 35/50, then on the next candle go against the direction of the candle. In this case, it was long.
Now just to be clear, we have two 50"s on the 15m. So EMA or SMA?
Ghost Rider - WWTBMD?
  • #22,444
  • Aug 12, 2009 2:08pm Aug 12, 2009 2:08pm
Quoting bkg102665
I hope it runs on upto 1.6620 we had talked about earlier today
That would be nice!
Just digging in the trenches like everyone else!
  • #22,445
  • Aug 12, 2009 2:10pm Aug 12, 2009 2:10pm
Quoting albchr
Now just to be clear, we have two 50"s on the 15m. So EMA or SMA?
Doesn't matter. They usually run in tandem with one another. The key is the 35. Ergo, if we have a bullish candle close through the 35 and the 50's are sitting below the candle that closed through the 35, it's more confluence for going back long. Same SL of 35 pips past the close price of the candle that closed through the 35. The 35/50 cross and reverse is an outstanding trade setup. No emotion to it, set it and let it happen.
Just digging in the trenches like everyone else!
  • #22,446
  • Aug 12, 2009 2:11pm Aug 12, 2009 2:11pm
Quoting luckylady
EO played the 35/50 cross and reverse. Basically if the candle goes through the 35 and the 50ma on the 15min chart, which that giant of a candle did, it will "usually" turn around at the close of the candle (or close to it). I think I remember from the pdf that EO uses a 35 pip stop loss from the top of the wick.
I hope you played it yourself!
Just digging in the trenches like everyone else!
  • #22,447
  • Aug 12, 2009 2:15pm Aug 12, 2009 2:15pm
I've booked more of my long position at 6512. The working h1 is showing bearish intent atm. Our m15 is showing bearish intent as well with the failure to make a new high and closing like she did.
Just digging in the trenches like everyone else!
  • #22,448
  • Aug 12, 2009 2:17pm Aug 12, 2009 2:17pm
Quoting Dirrall
I took it but was'nt sure if it qualified with such a large candle and how far it came through.
The larger the candle, the better in my eyes! You should have booked some nice profit on it. I know I did.
Just digging in the trenches like everyone else!
  • #22,449
  • Aug 12, 2009 2:20pm Aug 12, 2009 2:20pm
My remaining positions were closed out.. I missed all this crazy movement after fomc... damn... that was some nice crazy.... I hope no-one got caught on the wrong side of it....
Patience + Discipline - Greed = Success
  • #22,450
  • Aug 12, 2009 2:25pm Aug 12, 2009 2:25pm
Quoting eohater
The larger the candle, the better in my eyes! You should have booked some nice profit on it. I know I did.
OK thanks.

I closed 3/4 at + 30 and moved stop to +60 on the rest.

Pippi said it's ok to break the 10 pip rule occasionally
  • #22,451
  • Aug 12, 2009 2:28pm Aug 12, 2009 2:28pm
Quoting Infinity
My remaining positions were closed out.. I missed all this crazy movement after fomc... damn... that was some nice crazy.... I hope no-one got caught on the wrong side of it....
Sorry you missed getting back on the long side bro! I figured you were right there with me.
Just digging in the trenches like everyone else!
  • #22,452
  • Aug 12, 2009 2:29pm Aug 12, 2009 2:29pm
Quoting Dirrall
OK thanks.

I closed 3/4 at + 30 and moved stop to +60 on the rest.

Pippi said it's ok to break the 10 pip rule occasionally
Good job!

Yes, we can break the 10 pip rule occassionally!
Just digging in the trenches like everyone else!
  • #22,453
  • Aug 12, 2009 2:30pm Aug 12, 2009 2:30pm
Quoting eohater
The larger the candle, the better in my eyes! ....
Infinity, would you agree with this as well on the 35/50 cross and reverse?
Just digging in the trenches like everyone else!
  • #22,454
  • Aug 12, 2009 2:37pm Aug 12, 2009 2:37pm
Quoting eohater
Infinity, would you agree with this as well on the 35/50 cross and reverse?
It can be tricky sometimes on long bars. if it closes too far from the mas in a single bar, I'm normally more cautious...
Patience + Discipline - Greed = Success
  • #22,455
  • Aug 12, 2009 2:38pm Aug 12, 2009 2:38pm
Quoting eohater
Sorry you missed getting back on the long side bro! I figured you were right there with me.
I was with you bro and banked almost 100 pipperonis.

I haven't been posting because I am setting up the new toy the Fedx guy brought me.
  • #22,456
  • Aug 12, 2009 2:40pm Aug 12, 2009 2:40pm
Quoting PippiNole
I was with you bro and banked almost 100 pipperonis.

I haven't been posting because I am setting up the new toy the Fedx guy brought me.
Did you get your BlackBerry?
Just digging in the trenches like everyone else!
  • #22,457
  • Aug 12, 2009 2:41pm Aug 12, 2009 2:41pm
I do not like the way things are looking so I closed out +75 and I want to thank all you guys again for all the help given in this thread.I still have bad days trading but I believe in this approach 100%.This is an awesome thread!!
Please ask questions and share your experiences with us all!
  • #22,458
  • Aug 12, 2009 2:42pm Aug 12, 2009 2:42pm
Quoting Infinity
It can be tricky sometimes on long bars. if it closes too far from the mas in a single bar, I'm normally more cautious...
Really? I've had good success with them myself I believe. I think I might need to go back and look at some old charts.
Just digging in the trenches like everyone else!
  • #22,459
  • Aug 12, 2009 2:44pm Aug 12, 2009 2:44pm
Quoting bkg102665
I do not like the way things are looking so I closed out +75 and I want to thank all you guys again for all the help given in this thread.I still have bad days trading but I believe in this approach 100%.This is an awesome thread!!
Thank you sir! I'm glad you had a good day today, let's repeat tomorrow.
Just digging in the trenches like everyone else!
  • #22,460
  • Aug 12, 2009 2:47pm Aug 12, 2009 2:47pm
Quoting eohater
Really? I've had good success with them myself I believe. I think I might need to go back and look at some old charts.
It does work more often than not bro... no doubt about that.. I'll probably have to study some old charts as well...

Normally during news event like today.. If I'm not already in a trade before and covered... I wait until at least 1 or 2 m15 bars close before entering...I guess I'm a bit of a...
Patience + Discipline - Greed = Success
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