Trade what you see NOT what you expect | Page 1344 | Forex Factory

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Trade what you see NOT what you expect

  • #26,861
  • Oct 22, 2009 10:09am Oct 22, 2009 10:09am
Quoting Komissar
"brief pauses, ... pennants are typically smaller in size and duration."

This is a flag though ... ????

A pendant is smaller in duration and size because it slowly comes to a point and has to breakout.. and is triangle shaped..
Good Trading To All ; Ken Lee
  • #26,862
  • Oct 22, 2009 10:12am Oct 22, 2009 10:12am
Quoting francish
pardon my ignorance Kenneth. thus it would not be a bad idea to put in a pending short at 6600. rite? Francis

I have a Resistance line at 1.6583 that seems to be holding for now. But yes given the pattern a short would be the suspected move when it breaks . If you gump these area trade both ways like table tennis. Don't be suprised by a fast move down.
Good Trading To All ; Ken Lee
  • #26,863
  • Oct 22, 2009 10:53am Oct 22, 2009 10:53am
Quoting KENNETH lEE
I have a Resistance line at 1.6583 that seems to be holding for now. But yes given the pattern a short would be the suspected move when it breaks . If you gump these area trade both ways like table tennis. Don't be suprised by a fast move down.
here we are now Kenneth. what's your take from ma's

looks like it is heading for recent resistance, 6630
  • #26,864
  • Oct 22, 2009 11:16am Oct 22, 2009 11:16am
Quoting francish
here we are now Kenneth. what's your take from ma's

looks like it is heading for recent resistance, 6630

It could but we have two turning candles didn't like the first one but the second is ok. needs to get below the 1.6580 again.. But we also have that trendline bottom of the flag. maybe just some gump trading for now. When I am not sure I will wait for a breakout then look to enter on a retest. There isn't any reason to lose money on a questionable trade.

I did go short though off the second RED hangman
Good Trading To All ; Ken Lee
  • #26,865
  • Oct 22, 2009 1:15pm Oct 22, 2009 1:15pm
Hmm ? wonder how long a Flag is before it isn't a flag anymore anyone know ? This is looking more like a channel now and has been.. for a while.. ..
Good Trading To All ; Ken Lee
  • #26,866
  • Oct 22, 2009 1:27pm Oct 22, 2009 1:27pm
Well the flag is longer than the poll so I guess that would void the flag...lol !! I hope you guys are having an awesome day!
Please ask questions and share your experiences with us all!
  • #26,867
  • Oct 22, 2009 3:01pm Oct 22, 2009 3:01pm
If we get to 1.663x I believe I will be shorting her from there which is yesterdays high plus the inside pin on the dailey is shaping up quite nicely!!
Please ask questions and share your experiences with us all!
  • #26,868
  • Oct 22, 2009 3:21pm Oct 22, 2009 3:21pm
Will be looking at that zone right along with youhttp://cdn.forexfactory.com/images/icons/icon14.gif
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  • #26,869
  • Oct 22, 2009 3:32pm Oct 22, 2009 3:32pm
My 15m chart Iam showing s/r at 1.6625 the next one up @ 1.6673 have to wait and See!! Going to the pub for some refreshments hope I dont miss a big move check in later hope everyone is doing well!!
  • #26,870
  • Oct 22, 2009 6:31pm Oct 22, 2009 6:31pm
  •  blocp
  • | Joined Aug 2009 | Status: Patience, Patience,Patience | 22 Posts
Hi Ken- My chart pattern encyclopaedia states that flags last anything from a few days to 3 weeks. They then become symmetrical triangles, rectangles or wedges. This is on a daily chart. I have only taken an interest in patterns over the last few days, as have been learning everything else.
I am thinking that as 3 weeks is 15 days trading then maybe the maximum number of bars per time frame before a flag is not a flag is 15 bars.

hope this helps

Thanks bloc
  • #26,871
  • Oct 22, 2009 7:17pm Oct 22, 2009 7:17pm
Quoting blocp
Hi Ken- My chart pattern encyclopaedia states that flags last anything from a few days to 3 weeks. They then become symmetrical triangles, rectangles or wedges. This is on a daily chart. I have only taken an interest in patterns over the last few days, as have been learning everything else.
I am thinking that as 3 weeks is 15 days trading then maybe the maximum number of bars per time frame before a flag is not a flag is 15 bars.

hope this helps

Thanks bloc
Thansk for the information Ken
Good Trading To All ; Ken Lee
  • #26,872
  • Oct 22, 2009 7:52pm Oct 22, 2009 7:52pm
Got home in time to short 1.6668 will see what asia thinks
  • #26,873
  • Oct 22, 2009 8:14pm Oct 22, 2009 8:14pm
Quoting 4fun
My 15m chart Iam showing s/r at 1.6625 the next one up @ 1.6673 have to wait and See!! Going to the pub for some refreshments hope I dont miss a big move check in later hope everyone is doing well!!
Great call but I had gone out for dinner and missed the 1.6675 area but if it gets back close to that I will be shorting her I believe
Please ask questions and share your experiences with us all!
  • #26,874
  • Oct 22, 2009 8:24pm Oct 22, 2009 8:24pm
Thanks I took most off at 20 pips I am at b/e I played this with a size I really need to grow into makes me a bit uneasy watch it drop!
  • #26,875
  • Oct 22, 2009 8:37pm Oct 22, 2009 8:37pm
Hi Ken,

have a look here
http://ezinearticles.com/?Forex-Tech...ket&id=1190754

1-12 bars
some consider 8 bars to be pushing the limits for a reliable pattern

other subject
Did I miss the profit taking from your book? Stops is the last I downloaded. It's after profit taking and management in the table of contents.

Are you planning a section for DBHLC/DBLHC?

Keep up the awesome work.


Cheers

Thomas

Quoting KENNETH lEE
Thansk for the information Ken
  • #26,876
  • Oct 22, 2009 8:37pm Oct 22, 2009 8:37pm
Shorted agian at 1.6652 looking at the 21ema
  • #26,877
  • Oct 22, 2009 9:01pm Oct 22, 2009 9:01pm
Looks like it will run up and test those 1hr wicks have to see, grabbed a few more going to pop some more tops go watch the noles
  • #26,878
  • Oct 22, 2009 9:16pm Oct 22, 2009 9:16pm
Quoting 4fun
Shorted agian at 1.6652 looking at the 21ema
Nice play again my friend
Please ask questions and share your experiences with us all!
  • #26,879
  • Oct 23, 2009 1:17am Oct 23, 2009 1:17am
Quoting tdeu
Hi Ken,

have a look here
http://ezinearticles.com/?Forex-Tech...ket&id=1190754

1-12 bars
some consider 8 bars to be pushing the limits for a reliable pattern

other subject
Did I miss the profit taking from your book?...

Nope you haven't missed it not there yet the table of contents was done first to help me keep it in some type of order.
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Good Trading To All ; Ken Lee
  • #26,880
  • Oct 23, 2009 3:34am Oct 23, 2009 3:34am
Nice last 15 min candle after news.
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