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Trade what you see NOT what you expect

  • #22,521
  • Aug 13, 2009 3:00am Aug 13, 2009 3:00am
Quoting KENNETH lEE
Correct on the shooting star but as been mentioned in here a good deal. It is preffered to have a small lower wick . That shows that the sellers did try to go short but were pushed back. But without the lower wick is just buyers continuing to try north move being held back.. It can still workout but just be aware.. I am short on it myself..But not really feeling any love off it yet.

Trade Well Ken
right, also the shooting star are not a major reversal signal but we can use it like a pivot resistance, like here with the psych level of 6600....cable will break it we will go north (for how long don't know).
i took another position long again, because this shooting star just stop at 6600, a psych resistance (my opinion) and i think today it will break it. (let we see the candle pattern)
Trade with the momentum
  • #22,522
  • Edited 3:05am Aug 13, 2009 3:03am | Edited 3:05am
I guess the 4Hr close Al was looking at helped/..

You right Sailor

I covered at +12 still not feeling it..
Good Trading To All ; Ken Lee
  • #22,523
  • Aug 13, 2009 3:12am Aug 13, 2009 3:12am
Check your charts. The 15m 35/50/50 the 1H 62/10 and the 4H 5/10 are all right around 6520ish. I'd love to see a touch there to go long from.
Ghost Rider - WWTBMD?
  • #22,524
  • Aug 13, 2009 4:56am Aug 13, 2009 4:56am
im long since the level 6550, looking for the close of H1......
Trade with the momentum
  • #22,525
  • Aug 13, 2009 5:39am Aug 13, 2009 5:39am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Might be able to get 50 pips or more at 66500.

I am damn sure it will reverse there. It's going up but cannot see much strength. Before the news it will come down anyways..




Quoting ams
Hi Chris,

Nice to see you are active. asked about you on the GU thread 2 days ago.
So hope all your shifting is done smoothly.

Folks, just joined this thread after finding experienced traders here. So hello from me.

My target for GU seems 66500 atm. It seems it will give clear indication to where it wants to head if it can touch that.


ams
  • #22,526
  • Aug 13, 2009 5:56am Aug 13, 2009 5:56am
Quoting ams
Might be able to get 50 pips or more at 66500.

I am damn sure it will reverse there. It's going up but cannot see much strength. Before the news it will come down anyways..
Morning, fellows

If GU can get through 6640, next stop could be around 6720, and if she holds there, then south bound turn is possible.
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  • #22,527
  • Aug 13, 2009 6:10am Aug 13, 2009 6:10am
Is anybody from "Cheaters" club on-line?

Here's 4H chart for Mistress. I want to see her going down.

Any suggestions?
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  • #22,528
  • Aug 13, 2009 6:23am Aug 13, 2009 6:23am
Quoting Komissar
Is anybody from "Cheaters" club on-line?

Here's 4H chart for Mistress. I want to see her going down.

Any suggestions?
I took it around 137.60. I agree the 4hr and hrly holding at that previous price action area from last week.. I have been covered and have tp at the 35/50 area..137.00.. If it pushes threw will consider a reversal 35 /50 and add on if it retest that area.. Might be next week at this rate..
Good Trading To All ; Ken Lee
  • #22,529
  • Aug 13, 2009 6:40am Aug 13, 2009 6:40am
Quoting KENNETH lEE
I took it around 137.60. I agree the 4hr and hrly holding at that previous price action area from last week.. I have been covered and have tp at the 35/50 area..137.00.. If it pushes threw will consider a reversal 35 /50 and add on if it retest that area.. Might be next week at this rate..
Thank you, Ken
Your entry was pretty good.
Unfortunately, I was disturbed, and missed 3745 area.
I'll wait a little, maybe Mistress will give me another chance.

From the other hand, she bounced already twice from 21ma.
  • #22,530
  • Aug 13, 2009 7:06am Aug 13, 2009 7:06am
next seat short seems to be around 137.80 also R1

does it make sense to put in a PO or wait for reversal candle on m15?

tdeu

Quoting Komissar
Thank you, Ken
Your entry was pretty good.
Unfortunately, I was disturbed, and missed 3745 area.
I'll wait a little, maybe Mistress will give me another chance.

From the other hand, she bounced already twice from 21ma.
  • #22,531
  • Aug 13, 2009 7:13am Aug 13, 2009 7:13am
Quoting tdeu
next seat short seems to be around 137.80 also R1

does it make sense to put in a PO or wait for reversal candle on m15?

tdeu
Major news will be in 15 min.

I'd wait.
  • #22,532
  • Edited 7:40am Aug 13, 2009 7:24am | Edited 7:40am
Quoting KENNETH lEE
I took it around 137.60. I agree the 4hr and hrly holding at that previous price action area from last week.. I have been covered and have tp at the 35/50 area..137.00.. If it pushes threw will consider a reversal 35 /50 and add on if it retest that area.. Might be next week at this rate..
Closed the first short at 137.27 tried again from 137.60 closed +2 to close to news.. Might close above the Price action...


It figures... LOL
Good Trading To All ; Ken Lee
  • #22,533
  • Aug 13, 2009 7:44am Aug 13, 2009 7:44am
Just amazing how during news time the major ma's can provide a area to get in .. the 62 ema 1 hr was good for a quick 40.. E/J
Good Trading To All ; Ken Lee
  • #22,534
  • Aug 13, 2009 7:55am Aug 13, 2009 7:55am
From Yahoo!News
"The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week, while continuing claims fell sharply.
The Labor Department says new claims increased to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts expected new claims to drop to 545,000, according to Thomson Reuters.
The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week."

It means that for another 140,000 people unemployment benefits are expired. But it does not mean that they've got a new job.
  • #22,535
  • Aug 13, 2009 8:12am Aug 13, 2009 8:12am
[quote=Komissar;2952516]From Yahoo!News
"The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week, while continuing claims fell sharply.
The Labor Department says new claims increased to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts expected new claims to drop to 545,000, according to Thomson Reuters.
The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week."

It means that for another 140,000 people unemployment benefits are expired. But it does not mean that they've got a new job.[/quote]

You are very wise Sir Komissar. People are either still unemployed without benefits or have found some low paying part time work. No real jobs have been created.
  • #22,536
  • Aug 13, 2009 8:22am Aug 13, 2009 8:22am
I guess EO had a really good time last night...
Good Trading To All ; Ken Lee
  • #22,537
  • Aug 13, 2009 8:23am Aug 13, 2009 8:23am
[quote=PippiNole;2952574]
Quoting Komissar
From Yahoo!News
"The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week, while continuing claims fell sharply.
The Labor Department says new claims increased to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts expected new claims to drop to 545,000, according to Thomson Reuters.
The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week."

[b]It means that for another 140,000...
Pippi,

I don't pretend to be a smart ass.
I just can't take this BS "recession is over" anymore, when I see that situation around me completely contradicts to officials and media.

Just wanted to take it off my chest.
  • #22,538
  • Aug 13, 2009 8:30am Aug 13, 2009 8:30am
[quote=Komissar;2952619]
Quoting PippiNole
Pippi,

I don't pretend to be a smart ass.
I just can't take this BS "recession is over" anymore, when I see that situation around me completely contradicts to officials and media.

Just wanted to take it off my chest.
Brother I agree with you whole heartedly. I was talking to a healthcare recruiter for one of the largest hospital companies in the country(over 200 hospitals) yesterday. This person told me they typically have about 500 open positions at this time of year but they only have 57. Even the hospitals are piling work on the employees they currently have and not hiring.
  • #22,539
  • Aug 13, 2009 8:35am Aug 13, 2009 8:35am
E/J 60 pips up from the 62 ema 1 hr. Or it was a 35/50 reversal. There was 3 entries off that about 10 minutes a part can't see it on the 15 minute but clear on faster charts.. The price goes backup and retest the high of yesterday and turns back down..
Good Trading To All ; Ken Lee
  • #22,540
  • Aug 13, 2009 8:36am Aug 13, 2009 8:36am
[quote=PippiNole;2952652]
Quoting Komissar

Brother I agree with you whole heartedly. I was talking to a healthcare recruiter for one of the largest hospital companies in the country(over 200 hospitals) yesterday. This person told me they typically have about 500 open positions at this time of year but they only have 57. Even the hospitals are piling work on the employees they currently have and not hiring.
Yes, bro
We are still in deep sh.t.
Retails are down too, and couple days ago some talking head on TV mentioned that some stores are pushing Xmas sales already!
Imagine that.
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