Trade what you see NOT what you expect

Came back and got me would still be safe at the green line thats ok I grabbed some more!!

Same here, got 15 and will jump on again if it presents itself

This has been tough support, if we could break this might just be game on!

Got to head out. Look at her run glad you got some that was a good smart trade at least were SEEing this stuff. Have a great day

I have my eye on 1.6640 for the low today.It seems to line the fibs up nicely with the move so far today.Just something to think about, so quite in here today.WAKE UP PEOPLE!!!!!!!

I'm waiting 1.67 with some interest... meeting of 1H 200sma and 4H 50ema..

The close of daily candle is drawing a nice Evening Star.. a little early however.. still some hours to go..

................
meeting of h1 200sma and h4 150ema at 134 worked out very nicely on E/J...

Good morning afternoon all, watching to see how the Mrs handles the 1.6593 level. 131.74 for the mistress mentioned the other day looking like a reality atm

Hope some of you got the shorts off the main Ma's yesterday evening. and just woke up to a bag of pips.. here is proof that even the easiest entries can do really well for you. The reason for taking the profit is the fact that no new low was made.

and here is some food for thought and not even considering any longs

Looks to be flirting on a cliff

Hi Ken,

how do you know which MA (5/10/21) to take. Price almost always stalls a bit at each MA. Even if it goes up to the 21 it is likely, that it paused at the 5 and 10 too.

Have a look at the 1min chart from yesterday. It shows the first entry from your chart. Red is 5 and blue 10 EMA.

Cheers

Thomas

Hi Ken,

The attached chart shows the range top after yesterdays London close. I have a few questions about that.

The controller pin has a high of 6663.

1. The blue pin closes at 6663. Would the high of this pin define a new range top?

2. The two yellow candles close above. Do they define a new range top as they can be considered a pin on 30min and are from a time of the day with a much lower trading volume?

The pin from this morning (5 GMT) closed at 6664 - PA after that looks like a range break out. Seems some people considered 6663 the range top.

Often we see after a breakout pullbacks of around 10-20 pips. Looks like the stops of the people who traded the breakout level. Right?

Would you trade a range breakout against major averages - like 15min 50EMA, 1hr 10EMA or the lower 4hr MAs?

The last couple of days I had a couple of times, that two brokers (IBFX/Saxo) showed a close above/below a range and OANDA don't. Sometimes only one shows a breakout. Nice!

Cheers

Thomas

Hi Eo, Infinity, Ken and everyone else

Have been reading this thread and learnt so much - I am extremely grateful to all as it has really assisted my trading - Ken thanks for the pdf - fantastic reading.

Just gone short @6665.....four 15min candles failed to close above 6670....lets see what happens leading into Europe open

Hi Ken,

Managed to trade this nice short yesterday. Thanks to your suggestion to trade away from the MAs.

Is this the right place/PA to tp or would you've held for longer?

There was a pin on the hourly chart.

Cheers

Thomas

Hi Ken,

Managed to trade this nice short yesterday. Thanks to your suggestion to trade away from the MAs.

Is this the right place/PA to tp or would you've held for longer?
There was a pin on the hourly chart (at 6638).

Another question:
Does it make sense (risk wise) to reverse a long taken of a 1hr pin (at support) at the 15min 10EMA if there is only 20 pips room til the 50% retracement of that 1hr pin?

Cheers

Thomas

I totally agree with what you're saying. Trading is a skill that must be mastered with time and experience. Trading without emotions is key. Let the market tell you what needs to be done. It's a game of supply and demand. I trade purely off charts, no fundamentals. Fundies have a ton of knowledge, chartists have all the money. Keep up the good posts.

Good Morning Thomas: Nice Trade.. On that psticuar trade yes taking profit there was ok.. I safe move. That spinning top is more of a sign of indecision than reversal though, also consider PA around that area. You may wait for a close abocve the 5 ema to show that price is slowing and possibly starting to turn , Also in that trade the support area of 1.666 had been closed below.But a profit is a profit it is better to take a sure thing than to hold just to have it turn then give it back waiting for it turn in your favor again. The more you take these type of trades the better at profit taking you will become.

I start out taking very small profits but as I see the amount I leave behind I start seeing why to maybe wait. Once price came down to the 1.6625 arae and started going sideways. You could see it the short momentum running out. But whatever you do take your profit. If you can only take a few or 20 or whatever it may be . Get consistent and grow your confidence , and pay attention to how price is acting and you will see the ones you should let run a bit further.

AS far as the 1 hr pin and taking the 10 ema. after that entry. If your taking a entry off the 1 Hr chart you should use that chart to TP or get stopped on. If you see a Pin on the 1 HR then get a entry off the 15 Min. Then you can use the 15 Min to trade.

Looking at the area after that trade I don't see a pin there was a large green bodied candle a a hammer in the wrong position then a big red bodied candle so price was going sideways then a inverted Hammer then oprice went up some off it.

But I would say if your just gaining some confidence try sticking with the trend trades away from the Main ma's on the chart your trading off. Yes you will miss the reversals. But there are plenty of trades to take . and even when price reverses it normally bounces at those minor MA's why we get the 1 and 5 o'clock trades and price can and does turn back at those areas. getting us into the trades with the trend.

The main thing is to build trust in what your seeing and doing. The skill will come but not if we just jump in to trades without any idea why. So get good a taking a bit of profit then add to it.

Great Trade By the way Ken

I scalp so i tend to watch how price is moving seeing if it is slowing or not, at the ma. If it is I will take them all. But can take profit to soon. normally the higher the value of the ma the bigger the bounce until it may reverse totally . The reasoning for that is as price is heading towards the ma's it is retracing to a fib level another type of entry many use. As the values of the ma's grows is a deeper retracement. so better point to take a trade.

It also matters how far apart the ma's a re spread out this shows us the strength of the move that is retracing . the further apart they are the more interested I am of taking them all. You will notice those are the times when a entry off a 5 might get you in to the trend.


Hope This helps Ken

Hope this helps ken