Trade what you see NOT what you expect | Page 1360 | Forex Factory

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Trade what you see NOT what you expect

  • #27,181
  • Nov 11, 2009 7:36am Nov 11, 2009 7:36am
Morning, everybody
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  • #27,182
  • Nov 11, 2009 7:56am Nov 11, 2009 7:56am
Hey Kom your charts are always so clear. E/j 15m price closed below 135 then went back and touched i went short
  • #27,183
  • Nov 11, 2009 8:35am Nov 11, 2009 8:35am
Was able to grab a handfull price came back and got my stop decision time
  • #27,184
  • Nov 11, 2009 8:55am Nov 11, 2009 8:55am
Slow morning for me check in later. Happy veterans day to all those who have and are serving.
  • #27,185
  • Edited 10:28am Nov 11, 2009 9:32am | Edited 10:28am
Good morning guys and gals, my opinion looking for 1.6590 to be the bottom for today,it has been good support in the past

Well maybe 1.6535 now!!
Please ask questions and share your experiences with us all!
  • #27,186
  • Nov 11, 2009 1:22pm Nov 11, 2009 1:22pm
hi,
interesting place for GU..
Let's wait for some PA...
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  • #27,187
  • Nov 11, 2009 9:11pm Nov 11, 2009 9:11pm
Hi EO,

thanks for your daily chart.

I wonder why you don't put a level at 1.6695 (the high of 2009/06/02)? It seems like a PPA level that's being respected 8 out of 12 times.

Cheers

Thomas

Quoting eohater
Daily chart
  • #27,188
  • Nov 11, 2009 11:37pm Nov 11, 2009 11:37pm
Quoting tdeu
Hi EO,

thanks for your daily chart.

I wonder why you don't put a level at 1.6695 (the high of 2009/06/02)? It seems like a PPA level that's being respected 8 out of 12 times.

Cheers

Thomas
Glad you have found it helpful!

You mention level 6695, I do have level set from 6689 to 6745. This zone if you will includes your 6695. Remember, we use our lower TF, m15 is nice, for looking for our confirmation to reverse against the masses. I've always said I have a 10 pip variance on any level. I will not blindly enter a reversal until I have some nice PA on the m15. Now, let me further say this. If price is sitting at 6624 and the next m15 chart charges into 6689, I will automatically take a counter order trade to the direction of price on that m15 candle only. A 60 plus pip move in one m15 candle into a price level that I have on HTF, is an automatic reverse order. If price is sitting around 6670 and moves into 6689, I will not automatically take a reversal order until I have solid PA on my m15 chart to take that short. I will however be looking for reversal order PA from 6689-6745. As well, I will target my TP's on longs that I would have going into this area. There are two trades here essentially. The long into the price level, which is when our ma's have spread on the m15 and showing direction, the other is the reversal based upon price action on the m15. Remember, when the ma's are flat on the m15 and ranging an area, we need to be considering our levels and HTF S/R for our orders. They might just be 20 pip moves, but sooner or later, the ma's are going to open up into a direction and 8 out of 10 times, when she breaks her gump range, she's moving an additional 80 plus pips.

I hope your trading is going well!

EO
Just digging in the trenches like everyone else!
  • #27,189
  • Nov 12, 2009 5:54am Nov 12, 2009 5:54am
Quoting eohater
Glad you have found it helpful!

You mention level 6695, I do have level set from 6689 to 6745. This zone if you will includes your 6695. Remember, we use our lower TF, m15 is nice, for looking for our confirmation to reverse against the masses. I've always said I have a 10 pip variance on any level. I will not blindly enter a reversal until I have some nice PA on the m15. Now, let me further say this. If price is sitting at 6624 and the next m15 chart charges into 6689, I will automatically take a counter order trade to the direction of price...

Nice explanation.. I am adding to my own words of wisdom file.
Good Trading To All ; Ken Lee
  • #27,190
  • Nov 12, 2009 6:47am Nov 12, 2009 6:47am
Morning, fellows
4H closing will be very interesting.
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  • #27,191
  • Nov 12, 2009 7:33am Nov 12, 2009 7:33am
And here is another thing to think about.
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  • #27,192
  • Nov 12, 2009 9:48am Nov 12, 2009 9:48am
Hello all,

the last 6 hours were amazing. I took many scalping possibilities which occured on the 15 min chart. The longs were triggered by the 8 am (gmt) hammer (driving candle) and the shorts by a combination of trendlines, candles and MAs. The longer I watch the charts the more clearer I see the trade possibilities which occur. I thought I would never understand why price moves, stops and reverse but with studying this thread and the help of all the nice people in here I beginn to see the patterns which drive the charts. So thanks again for the wonderful work.
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  • #27,193
  • Nov 12, 2009 10:07am Nov 12, 2009 10:07am
Hello Everyone,

I have been a lurker on this thread since the beginning. I have learned loads - so thank you very much to Eo and to Ken and to all the others who have taken the time to teach us all.

Today, being thoroughly fed up of watching price going back and forth and back and forth, I've decided it's time to ask a few questions.

The bit that I really like about your strategy Eo is the way that you use wicks as markers for price action. This is the easiest thing for me to get my head around, perhaps because it is so strongly visual.

From a lot of watching, what I have seen is that when price moves higher than a previous wick and then closes below it, this is a reliable signal to sell. And vice versa for a buy - and this is particularly useful at the extremes of the daily range.

I've taken to looking at this on the one hour chart - for instance, todays 8am GMT candle went lower than last Fridays low, yet failed to close below it and it was possible to trade it up to the one hour ema 21. 8 hours later the jury is still out on whether it will go any further!

Would I be right in thinking that these one hour wicks and closes are as valid and useful as those on the 15 minute chart - and are there any other thoughts and tips on how to use wicks as markers?

Thank you.

Alison
  • #27,194
  • Edited 12:45pm Nov 12, 2009 10:50am | Edited 12:45pm
Quoting MCFly
Hello all,

the last 6 hours were amazing. I took many scalping possibilities which occured on the 15 min chart. The longs were triggered by the 8 am (gmt) hammer (driving candle) and the shorts by a combination of trendlines, candles and MAs. The longer I watch the charts the more clearer I see the trade possibilities which occur. I thought I would never understand why price moves, stops and reverse but with studying this thread and the help of all the nice people in here I beginn to see the patterns which drive the charts. So thanks again for...
yes ,
it's incredible how many times the 50 ema has rejected the price....
very nice,

ciao
  • #27,195
  • Nov 12, 2009 2:52pm Nov 12, 2009 2:52pm
Hi all especially eo & ken. Just want to say since following this thread my trading has improved massively so thanks one and all. I read a few posts back someone was preparing a PDF of this strategy. If that is so can someone point me in the right direction so I can find it, if indeed I missed it. Thanks in advance and congratulations on such a professional clean thread. Best regards wmloto (uk)
Sleeping boys catch no fish
  • #27,196
  • Nov 12, 2009 2:56pm Nov 12, 2009 2:56pm
Ideas on the USD rally so far. Seems to be across the board except for cable....any thoughts would be appreciated.
  • #27,197
  • Nov 12, 2009 6:46pm Nov 12, 2009 6:46pm
Hi EO,

many thanks for that. Very well explained.

Still having trouble to draw only S/R levels, that are the main levels. Have had too many on my charts. Used to have S/R levels every 30-50 pips.

E.g. 1.6385-90 on my daily.

Does an area where there are levels from different time frames holds more importance - like 6740 or 6680?

At the moment I'm trying to stick to range BO and the retracement setups (35/50 and 63EMA) as they are more forgiving.

Thanks

Thomas

Quoting eohater
Glad you have found it helpful!

You mention level 6695, I do have level set from 6689 to 6745....
  • #27,198
  • Nov 12, 2009 10:31pm Nov 12, 2009 10:31pm
Quoting wmloto
Hi all especially eo & ken. Just want to say since following this thread my trading has improved massively so thanks one and all. I read a few posts back someone was preparing a PDF of this strategy. If that is so can someone point me in the right direction so I can find it, if indeed I missed it. Thanks in advance and congratulations on such a professional clean thread. Best regards wmloto (uk)
Ken has written brilliant and very detailed lessons which I am in the process of turning into a pdf. Its taking longer than I thought, mainly because of trading during the week. But it should be finished this weekend...promise
  • #27,199
  • Nov 13, 2009 12:04am Nov 13, 2009 12:04am
Quoting luckylady
Ken has written brilliant and very detailed lessons which I am in the process of turning into a pdf. Its taking longer than I thought, mainly because of trading during the week. But it should be finished this weekend...promise
Waiting with eager anticipation!
  • #27,200
  • Nov 13, 2009 1:21am Nov 13, 2009 1:21am
Thanks luckylady- counting the minutes! good of you to take on the task
Sleeping boys catch no fish
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