Trade what you see NOT what you expect | Page 1351 | Forex Factory

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Trade what you see NOT what you expect

  • #27,001
  • Oct 29, 2009 7:43am Oct 29, 2009 7:43am
Good day to all. Looks like a pierced rising wedge more than a flag at this point.
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Click to Enlarge Name: 15mn cable.gif Size: 21 KB
  • #27,002
  • Oct 29, 2009 7:46am Oct 29, 2009 7:46am
Quoting hiflyer
Well, I took my first 1 o'Clock trade this morning and it was successful. Yeah!!!! Thanks for sharing this trading method with us all!

I bought the GU @ 1.6454 and Sold @ 1.6474
SL @ 1.6443 below the 10 EMA

Great eye ... There are lots of those at times.. also look for them when price breaks a s/r line if it hits the ma and the line on a retest normally good entry for a possible long term trade.. Great trade .. Ken
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Good Trading To All ; Ken Lee
  • #27,003
  • Oct 29, 2009 7:57am Oct 29, 2009 7:57am
I have 15m s/r @ 1.6467 1.6525 above and 1.6412 below and watching the close of this 1hr bar closely
  • #27,004
  • Oct 29, 2009 8:23am Oct 29, 2009 8:23am
E/j retraced 1hr 62 and 38 fib and round number
  • #27,005
  • Oct 29, 2009 8:41am Oct 29, 2009 8:41am
Damn was lookin for it to test that 1hr wick and closed 1/2 at 1.6500 then it took off o-well!!
  • #27,006
  • Oct 29, 2009 8:52am Oct 29, 2009 8:52am
Like to see this test 1.6600 I'll be waiting with a .50-cal looking for 1 well placed shot
  • #27,007
  • Oct 29, 2009 8:57am Oct 29, 2009 8:57am
What is meant by a 1 o'clock trade and where can I find EO's trading PDF?
Many thanks in advance.

Quoting hiflyer
Well, I took my first 1 o'Clock trade this morning and it was successful. Yeah!!!! Thanks for sharing this trading method with us all!

I bought the GU @ 1.6454 and Sold @ 1.6474
SL @ 1.6443 below the 10 EMA
  • #27,008
  • Oct 29, 2009 9:09am Oct 29, 2009 9:09am
pdf is on the very first page, and it explains what 1 o'clock and 5 o'clock trades are
  • #27,009
  • Oct 29, 2009 9:53am Oct 29, 2009 9:53am
Quoting 4fun
Like to see this test 1.6600 I'll be waiting with a .50-cal looking for 1 well placed shot
Didnt miss this time around,Finally!!
  • #27,010
  • Oct 29, 2009 11:36am Oct 29, 2009 11:36am
Quoting 4fun
Didnt miss this time around,Finally!!
Excellent trading
  • #27,011
  • Oct 29, 2009 4:32pm Oct 29, 2009 4:32pm
here is a something I had written about 1/5 oclock trades before


Some Confirmation To enter at MA's

Some of the trades most available during almost anytime of the day are the trades off the MA'S . Which we call the 1:00 and 5:00 oclock trades because the 5,10,or 21 ma point in the direction of that number on the clock face depending on the trend (up = 1:00 and down = 5:00 ). The problem I am having is entering straight awayagainst the current price action, So I have been looking for some type of confirmation to get in at the right place. I have been entering after it starts to move and can lose the majority of the pips available. This is the E/J because the cable is going sideways right now..
I will confirm the same is happening with it and post it later...
Here are the items I noticed to help us jump on the bus at the right time allowing us to take all the pips available... Plus using these your stops can be tight as your entering closer to the top.
Line A This is probablly the Best and should have been the easyest to enter..As we can see in the circled area. This area was major support and now is resistance. Entry is at the red arrow. I would enter once the price starts back down.
Lines B,C,D and F are pretty much the same. Almost all had a Green bullish candle prior to entry candle . This is what makes the entries so hard to take.
But they all stopped at a previous area that was minor support before. The price doesn't break above and we have our MA's as a signal . So once the next candle opens retest that support (now resistance ) and starts down is our entry signal. ( red arrows)
Depending on our risk our stops could be very tight 10 or less above the S/R area.
All the 5 trade were worth over 40 pips each. Some a lot more.
Now the rules..
1. Price aproaches the MA areas.
2. look left for previous S/R area minor 15 min, or major 1hr ,
3. Look for the canlde to stall at that area.
4. Enter on next candle when it turns back or if it heads in the right direction
straight off.

I hope this helps some.. Now if I can only DO IT !!!!
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Click to Enlarge Name: 1 and 5 oclock trades chart.JPG Size: 218 KB
Good Trading To All ; Ken Lee
  • #27,012
  • Oct 29, 2009 4:35pm Oct 29, 2009 4:35pm
Here is a description EO posted about 35/50 cross trades.



EO; On the 35/50 reverse trade.
Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 CIRCLE B and the 50sma on the h4 CIRCLE C. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop,CIRCLE A sellers jumped on with drool and drove her back down. Those are your trend traders that jumped on her, their not the traders like Infinity, myself and others who went long from the bottom, they waited for the price, then pounced. The 35/50sma cross and reverse is excellent once the trend for the day has been defined like it had been for us from London. Will the cross and reverse work everytime, no, hell no, but it will once we come off a new high or new low.
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Click to Enlarge Name: 35 50 trade explained in depth chart.JPG Size: 250 KB
Good Trading To All ; Ken Lee
  • #27,013
  • Oct 29, 2009 9:10pm Oct 29, 2009 9:10pm
Quoting KENNETH lEE
here is a something I had written about 1/5 oclock trades before


Some Confirmation To enter at MA's


[b]Some of the trades most available during almost anytime of the day are the trades off the MA'S . Which we call the 1:00 and 5:00 oclock trades because the 5,10,or 21 ma point in the direction of that number on the clock face depending on the trend (up = 1:00 and down = 5:00 ). The problem I am having is entering straight awayagainst the current price action, So I have been looking for some type of confirmation...
Hi, for the first support(Line A), what makes you so certain that the candle will break that support? Wouldn't there be a higher chance that price will bounce from that support, instead of breaking it? =)
Always hunting for pips, even in the dark
  • #27,014
  • Oct 30, 2009 12:39am Oct 30, 2009 12:39am
Quoting jaddy
Hi, for the first support(Line A), what makes you so certain that the candle will break that support? Wouldn't there be a higher chance that price will bounce from that support, instead of breaking it? =)

the idea was to show a retest of a break of that line. It wasn't the best example.. The main focus of that chart was showing how we have some Price Action confirmation for the rrest of the trades shown.. I personally though start looking for a break of a line when it gets hit three or more times. It has been my exprience that the more they get bounced off the weaker they are..

Because there maybe orders stacked up there stopping the move but evertime the line is tested more of those orders are filled. Untill they are completed and then price can move past that area. For that reason personnelly I normally won't take the third bounce off a line I will wait for the break of it.. But remember this is a 15 min chart .. So those test are close together.

Hope this helps.. Ken

Another point, In consolidation like that. It is high probablitity that the price is going to continue down when it breaks like any pattern. such as a flag or pendant.
Good Trading To All ; Ken Lee
  • #27,015
  • Oct 30, 2009 12:45am Oct 30, 2009 12:45am
Quoting luckylady
I'm in the process of making it into a PDF so people can download it
Let me know once you have it compiled and I'll gladly post it on the first post of the thread for all to download as well!

Thank you for taking the time to do it!
Just digging in the trenches like everyone else!
  • #27,016
  • Oct 30, 2009 12:47am Oct 30, 2009 12:47am
Quoting eohater
Let me know once you have it compiled and I'll gladly post it on the first post of the thread for all to download as well!

Thank you for taking the time to do it!
Thanks EO....great to see you by the way, hope you're well

I will be finishing it up over this weekend, seemed like the best time to do it now all the lessons have been posted.
  • #27,017
  • Oct 30, 2009 2:00am Oct 30, 2009 2:00am
Wow this thread is intimidating....i'm absorbing the pdf posted at the beginning somewhere but I look forward t LL's version.

I've been watching the MA's for quite awhile now and really amazed how well they work for floating S/R.

My question for the night is this: Does anybody else out there use these nefarious methods on the e/u? I have a 4 pip spread on the cable so unless i see some longer term trades taking shape I usually stay out, and just trade the e/u.
  • #27,018
  • Oct 30, 2009 2:31am Oct 30, 2009 2:31am
Quoting sandpipper
Wow this thread is intimidating....i'm absorbing the pdf posted at the beginning somewhere but I look forward t LL's version.

I've been watching the MA's for quite awhile now and really amazed how well they work for floating S/R.

My question for the night is this: Does anybody else out there use these nefarious methods on the e/u? I have a 4 pip spread on the cable so unless i see some longer term trades taking shape I usually stay out, and just trade the e/u.
I used to trade EU because of the spread on cable (mine is 4 pips as well) but GU moves so much more that it more than makes up for it, even going for just 10 pips (14 with the spread).
  • #27,019
  • Oct 30, 2009 2:57am Oct 30, 2009 2:57am
Quoting luckylady
I used to trade EU because of the spread on cable (mine is 4 pips as well) but GU moves so much more that it more than makes up for it, even going for just 10 pips (14 with the spread).
Excellent point. I'm thinking in 2 weeks I should have the spread down to 2 pips as my broker is going to help me out.....I guess I still have my training wheels on playing the e/u.
  • #27,020
  • Oct 30, 2009 4:55am Oct 30, 2009 4:55am
hello eo

cable must break 1.6475 to clear short

1.6510 is holding support 1 hour

4h chart show sell pressure ...

but daily gathering power to go up

becarefull
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