Trade what you see NOT what you expect | Page 1373 | Forex Factory

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Trade what you see NOT what you expect

  • #27,441
  • Dec 1, 2009 9:11am Dec 1, 2009 9:11am
Hey Pippi, you gonna be rooting for the gators this Saturday against the tide?
Hi, my name is Barry and you can keep your doctor...
  • #27,442
  • Dec 1, 2009 9:34am Dec 1, 2009 9:34am
Quoting PippiNole
Green pips is good!

I hope some of you grabbed a seat on GU at 639X. She held there yesterday and again during E/L this morning.

I just want to remind everyone to take a look at your daily charts at least at the end of each day. Everyone should have been looking for a long down the wicks of those dailys from Friday.
Hello,Pippi,would you mind describing what the siganl to go long at 639x was that you saw,thanks
  • #27,443
  • Dec 1, 2009 9:42am Dec 1, 2009 9:42am
Quoting Deputy Dawg
Hello,Pippi,would you mind describing what the siganl to go long at 639x was that you saw,thanks
6390 is where the PPA line was from yesterday. Hope that helps.
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  • #27,444
  • Dec 1, 2009 9:44am Dec 1, 2009 9:44am
Quoting Deputy Dawg
Hello,Pippi,would you mind describing what the siganl to go long at 639x was that you saw,thanks
Same as Lucky lady
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Good Trading To All ; Ken Lee
  • #27,445
  • Dec 1, 2009 9:47am Dec 1, 2009 9:47am
Quoting cisco
Hey Pippi, you gonna be rooting for the gators this Saturday against the tide?

Now you know I can't admit to rooting for the gators on a public forum but I dislike Alabama even more.
  • #27,446
  • Dec 1, 2009 9:49am Dec 1, 2009 9:49am
thanks lucky lady and Ken,I thought I was meant to be seeing something on a daily chart,and perhaps being a bit of a numpty. But can see it clearly on the 1hr chart you posted.
  • #27,447
  • Dec 1, 2009 9:50am Dec 1, 2009 9:50am
Quoting Deputy Dawg
Hello,Pippi,would you mind describing what the siganl to go long at 639x was that you saw,thanks
What LuckyLady and Ken said.
  • #27,448
  • Dec 1, 2009 10:08am Dec 1, 2009 10:08am
Quoting Deputy Dawg
thanks lucky lady and Ken,I thought I was meant to be seeing something on a daily chart,and perhaps being a bit of a numpty. But can see it clearly on the 1hr chart you posted.
Let me elaborate a little more.

When I looked at my daily charts on Sunday I saw a big pin. I automatically was looking for a long about 1/3 to 1/2 way down the wick of that pin. Yesterday I waited for PA to give me a signal to get in but already had my eye on the 638x-9x area. I got the signal I wanted yesterday on the 15min. chart and took the trade. Now if price gets back down to that area I am willing to take a trade without a signal knowing with pretty good certainty that buyers will be there and we will make the signal that other less agressive traders will be looking for. Thus the DBLHC and a possible entry at 6420. It was an agressive entry but waiting for the DBLHC would have been a good trade also. Hope this helps.
  • #27,449
  • Dec 1, 2009 10:23am Dec 1, 2009 10:23am
Quoting PippiNole
Let me elaborate a little more.

When I looked at my daily charts on Sunday I saw a big pin. I automatically was looking for a long about 1/3 to 1/2 way down the wick of that pin. Yesterday I waited for PA to give me a signal to get in but already had my eye on the 638x-9x area. I got the signal I wanted yesterday on the 15min. chart and took the trade. Now if price gets back down to that area I am willing to take a trade without a signal knowing with pretty good certainty that buyers will be there and we will make the signal that other less agressive...
Thanks for the extended explanation,it's nice to see how other people look at things.The DBLHC stuff tough is beyond my feeble brain I'm afraid,I just look for touches of the ema's and trade off those,nice and simple,thanks for the hepl though.
  • #27,450
  • Dec 1, 2009 10:53am Dec 1, 2009 10:53am
Quoting Deputy Dawg
Thanks for the extended explanation,it's nice to see how other people look at things.The DBLHC stuff tough is beyond my feeble brain I'm afraid,I just look for touches of the ema's and trade off those,nice and simple,thanks for the hepl though.

That is fine just concentrate on what works for you. But maybe at days end or over the weekend look at the other stuff and slowly you will start to see them right after you could have entered LOL. then you will start to see them and may get a entry. It is a process don't worry if even one thing works for you that is all it takes . consistyency is the key .. I think EO said it once you can make a living off 10 pips a day. as long as you end up with that 10 pips everyday.

Trade Happy Ken
Good Trading To All ; Ken Lee
  • #27,451
  • Edited 3:27pm Dec 1, 2009 3:00pm | Edited 3:27pm
Hi PipiNole,

Thanks for your comment about the daily pin.

I went through my charts and saw, that higher time frame traders mainly trade fib retracements (+-10-20 pips) of candles instead of whole swings. Traded are mainly Pins, Engulfing bodies or Outside bars. Is that true?

The high, that we've made on weekly GU in November (6876) corresponds roughly with a 62% retr of the pin from August (6890).

How long do such retracement levels of such candles stay "valid".

Is it better to use these levels for profit taking and wait for a reversal candle to form on M15/1hr to get in? Like yesterday there was also no S/R to go long from.

Are we right now dealing with the 76% retr of the engulfing body from the 26th or with the 62% retr of the whole swing from middle of November?

Or better, the 62% retr of last month's candle?

Do those higher time frame guys take profit after risk reward 1/2 to 1/3 and pull their stops to BE - looks like it to me.

For daily GU:
They've sold the inside bar at the 17th took profit at the 20th and were stopped at the 25th. So they missed out on the second part of the ride.

Good to see at least in hindsight ;-).

Sorry for asking so many questions. Maybe some guys who came from the higher time frame group can elaborate too.

Cheers

Thomas




Quoting PippiNole
Let me elaborate a little more.

When I looked at my daily charts on Sunday I saw a big pin....
  • #27,452
  • Dec 2, 2009 2:22am Dec 2, 2009 2:22am
Hi all,

After read and read again this thread, today i start to use MA, my first trade of the day, GU H1, rejection of the 50 ema, green pips......
I change my way of trading, now im only looking for 10-20 pips by trade, but im waiting for area SR, candlestick pattern, PA.....Thanks all for your advice....
Trade with the momentum
  • #27,453
  • Dec 2, 2009 2:36am Dec 2, 2009 2:36am
Quoting sailor68
Hi all,

After read and read again this thread, today i start to use MA, my first trade of the day, GU H1, rejection of the 50 ema, green pips......
I change my way of trading, now im only looking for 10-20 pips by trade, but im waiting for area SR, candlestick pattern, PA.....Thanks all for your advice....
Excellent trade sailor
  • #27,454
  • Dec 2, 2009 4:16am Dec 2, 2009 4:16am
Quoting luckylady
Excellent trade sailor
Thanks Luckylady,
second trade, i saw that ma62 15M usd/cad hold well, i short on the last touch of ma 62, i get also my 10 pips...
Trade with the momentum
  • #27,455
  • Dec 2, 2009 5:20am Dec 2, 2009 5:20am
Quoting sailor68
Hi all,

After read and read again this thread, today i start to use MA, my first trade of the day, GU H1, rejection of the 50 ema, green pips......
I change my way of trading, now im only looking for 10-20 pips by trade, but im waiting for area SR, candlestick pattern, PA.....Thanks all for your advice....
I agree Sailor,excellent trade,but why close after 10/20 pips,why not drop down to 15m chart and manage it from there.Would pay out at least 24 to the touch of 5ema 15m or upto 45pips on next candle.Eventually has paid out megapips so far,just curious why you closed so soon ?
  • #27,456
  • Dec 2, 2009 5:26am Dec 2, 2009 5:26am
Another thing I've just spotted i think. Are those 2 candles on 15m where sailor took his trade a good example of the double low/higher close entry ?

One for Ken,luckylady or pippi I think.
  • #27,457
  • Dec 2, 2009 5:38am Dec 2, 2009 5:38am
Quoting Deputy Dawg
Another thing I've just spotted i think. Are those 2 candles on 15m where sailor took his trade a good example of the double low/higher close entry ?

One for Ken,luckylady or pippi I think.
Yes it is as far as I'm concerned You could either go long at the open of the 7:45 GMT candle, or wait until the 1hr finished which ended up a pin but further up.
  • #27,458
  • Dec 2, 2009 5:41am Dec 2, 2009 5:41am
Knowing pippi and eo though, they probably took it as it neared the 1hr 50 and 62 but I'm not brave enough
  • #27,459
  • Dec 2, 2009 5:51am Dec 2, 2009 5:51am
Quoting Deputy Dawg
I agree Sailor,excellent trade,but why close after 10/20 pips,why not drop down to 15m chart and manage it from there.Would pay out at least 24 to the touch of 5ema 15m or upto 45pips on next candle.Eventually has paid out megapips so far,just curious why you closed so soon ?
Hi,

why i closed it so quickly, because before i manage my trade with small lot, i let it run for 1 or 2 days, now im looking for 10-20 pips, but i increase my lot, and im not yet familiar with this new technical, i need to be self confident...
i think if i will do it everyday and i will let run the profit, like now this happen many days, traders take profit just before the opening NY session short EJ for 20 pips...
Trade with the momentum
  • #27,460
  • Dec 2, 2009 6:20am Dec 2, 2009 6:20am
Quoting luckylady
Yes it is as far as I'm concerned You could either go long at the open of the 7:45 GMT candle, or wait until the 1hr finished which ended up a pin but further up.
Woohoo,looks like some of the other stuff has sunk in a bit lol,but I'll still stick with trading off the ema's,as i say easiest way for me,easiest to see easiest to do.
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