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Trade what you see NOT what you expect

  • #28,001
  • Dec 21, 2009 6:26pm Dec 21, 2009 6:26pm
Quoting PippiNole
What's up guys?

Did any of you trade the Temptress today? She was real smooth and put out a bunch of pips!
i rode several waves last night and made a killing. you?
  • #28,002
  • Dec 21, 2009 6:32pm Dec 21, 2009 6:32pm
question from other thread.
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #28,003
  • Dec 21, 2009 6:57pm Dec 21, 2009 6:57pm
Quoting dakrusha
i rode several waves last night and made a killing. you?

Good to hear!

I rode all 3 of my ladies for some great pippage!
  • #28,004
  • Dec 22, 2009 2:44am Dec 22, 2009 2:44am
Quoting KENNETH lEE
question from other thread.
Thanks for posting that chart Ken mine was boxed off exactly like yours. I just completely missed that move?? Nice pa of that 200sma then across the ma's I even posted how the 1hr came back and touched for a clear b/o of the box, was thinking short that I couldnt SEE the obvious. Nailed the other two ladies real well, your charts and narration sure help to drill it in.
  • #28,005
  • Dec 22, 2009 3:39am Dec 22, 2009 3:39am
Hi, EO, KENN, PippiNole, Lucklady and all
Thanks for all of your contribution to this thread, it is very helpful, I am reading...
I have some newbbie questions, if any of you guys have time, please help to explain.
1) is it possible that 1h62ema and 15m35/50ma give different direction signals? like one direct to LONG, an other direct to SHORT.
2) if 1h has a hangman/hanmperman/shooting star, but also one candlestick cross 15m35/50ma, which one should we consider first?
thanks
Dancing with Candlesticks
  • #28,006
  • Dec 22, 2009 4:45am Dec 22, 2009 4:45am
What people rarely give themselves credit for is that their giving continues giving, even after they've forgotten giving, and even when they didn't know they were giving, forever and ever and ever.


http://ainsworth1985.files.wordpress...y-holidays.jpg
Good Trading To All ; Ken Lee
  • #28,007
  • Dec 22, 2009 4:57am Dec 22, 2009 4:57am
Hi, EO, KENN, PippiNole, Lucklady and all
Thanks for all of your contribution to this thread, it is very helpful, I am reading...
I have some newbbie questions, if any of you guys have time, please help to explain.
1) is it possible that 1h62ema and 15m35/50ma give different direction signals? like one direct to LONG, an other direct to SHORT.

Yes, They can reminds of two instances last week had a shooting star on the 1 hr and hamer on the 4 Hr. in both those cases the 4 hr. prevailed. But I had thought and it was possible that The 1 Hr would just send price into the wiick of the 4 Hr then price could turn But it didn't. But those signal can happen and bot can workout one could be a retest the other withthe trend. But if your getting both at once it very possible one is not in the right location as far as a retracemnet goes. Look for the ones that is 50% reversed from the last swing on it's time frame 15 Min for the 35/50 cross and 1 hr. on the 62 Ema touch. Hope this helps. If all else fails I would go with the one that is with the major trend on the 1 Hr or 4 hr. charts .

2) if 1h has a hangman/hanmperman/shooting star, but also one candlestick cross 15m35/50ma, which one should we consider first?
thanks

[color=blue]See above. LOL same thing really the 35/50 can and does just give us a retest sometimes which could also just push price down or up the wick of that pin making both valid. Or the either one could fail it does happen. The whole idea with signal is they just give you a visual that a certian move is possible. Then look at everything else PA , PPA overall trend position of priceing regarding retracement. Then make your choice to which you see as better. It gets easier with time..


[b] Ken
Good Trading To All ; Ken Lee
  • #28,008
  • Dec 22, 2009 7:33am Dec 22, 2009 7:33am
Quoting tdeu
Hi EO,

Sorry to bother you before Christmas. Although maybe we have some nice breakouts over the coming days with thin markets.

Cheers

Thomas




Hi EO,

I didn't remember something about range BO you've mentioned a couple of weeks ago. Searched the thread too but couldn't find it.

It had to do with fake breakouts and violent reversals. I think I remember, that you've said you would place stop and reverse orders to get taken into a fast move in the other direction.

We saw this a couple of times this month from the Asian range.

Can...

EO maybe busy wrapping X-mas Presents If this wrong somebody please correct. Ken
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Good Trading To All ; Ken Lee
  • #28,009
  • Dec 22, 2009 7:43am Dec 22, 2009 7:43am
Quoting KENNETH lEE
EO maybe busy wrapping X-mas Presents If this wrong somebody please correct. Ken
Hi Ken,

it wasn't only a retest of the asian low it was a retest of the yesterday's low too. I went short after this candle.
  • #28,010
  • Dec 22, 2009 8:29am Dec 22, 2009 8:29am
Quoting MCFly
Hi Ken,

it wasn't only a retest of the asian low it was a retest of the yesterday's low too. I went short after this candle.

Yep, Exactlly what I said .. Nice trade
Good Trading To All ; Ken Lee
  • #28,011
  • Edited 4:54pm Dec 22, 2009 8:48am | Edited 4:54pm
Quoting KENNETH lEE
EO maybe busy wrapping X-mas Presents If this wrong somebody please correct. Ken

Hey Ken great chart as usual!

I would like to add that a better entry could have been taken for a short by looking at the 1 hr chart. Take a look at the PA at the 608x-9x area on the 1hr and compare it to the PA at the same time on the 15 min and see what you think. I was able to add back to my shorts up the wick. I'll post a chart later but I have to run my daughter to the doctor.

1hr chart showing PA of the 608x-9x area.

15 min chart showing PA of same area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU1hr.jpg Size: 237 KB
Click to Enlarge Name: GU15.jpg Size: 237 KB
  • #28,012
  • Dec 22, 2009 8:52am Dec 22, 2009 8:52am
Somebody noticed the E/J ascending triangle breakout?
  • #28,013
  • Dec 22, 2009 8:59am Dec 22, 2009 8:59am
Quoting PippiNole
Hey Ken great chart as usual!

I would like to add that a better entry could have been taken for a short by looking at the 1 hr chart. Take a look at the PA at the 608x-9x area on the 1hr and compare it to the PA at the same time on the 15 min and see what you think. I was able to add back to my shorts up the wick. I'll post a chart later but I have to run my daughter to the doctor.
I agree 100% but the question was about the Asian breakout. But please do post that chart. The more the merrier. Hope your daughter is ok..
Good Trading To All ; Ken Lee
  • #28,014
  • Dec 22, 2009 9:16am Dec 22, 2009 9:16am
Morning everyone, I've taken a long at 5959 SL at 5950. Look at your daily S/R.
Just digging in the trenches like everyone else!
  • #28,015
  • Dec 22, 2009 9:20am Dec 22, 2009 9:20am
Good morning EO
" When the ship starts to sink, don't just pray. JUMP "
  • #28,016
  • Dec 22, 2009 9:23am Dec 22, 2009 9:23am
Quoting eohater
Morning everyone, I've taken a long at 5959 SL at 5950. Look at your daily S/R.
Booked 10. Not moving my SL yet
Just digging in the trenches like everyone else!
  • #28,017
  • Dec 22, 2009 9:32am Dec 22, 2009 9:32am
Quoting eohater
Booked 10. Not moving my SL yet
Keeping my SL at 5950, PA on the m15 is not the best, we could see 594x
Just digging in the trenches like everyone else!
  • #28,018
  • Dec 22, 2009 9:37am Dec 22, 2009 9:37am
Quoting eohater
Keeping my SL at 5950, PA on the m15 is not the best, we could see 594x
I'd like to see a hammer or pin on the h1.
Just digging in the trenches like everyone else!
  • #28,019
  • Dec 22, 2009 9:38am Dec 22, 2009 9:38am
Quoting PippiNole
a better entry could have been taken for a short by looking at the 1 hr chart.
Exactly when I took shorts. Got out too early, but as wisemen say: it's better to lose opportunity than to lose money.

BTW: Thank you Ken for your charts. They are really helpful.

Take care. perez
  • #28,020
  • Dec 22, 2009 9:51am Dec 22, 2009 9:51am
Quoting eohater
Keeping my SL at 5950, PA on the m15 is not the best, we could see 594x
Rest of position was closed out. Looking now at 591x and 588x.
Just digging in the trenches like everyone else!
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