Trade what you see NOT what you expect

Yes, I was quite surprised. Getting back to normal. What was that?

High risk news came out at 9.30 GMT http://www.forexfactory.com/calendar.php which if I wasn't already in a trade and covered I would have stayed away from.

Great post LuckyLady .

Ken, here's hoping you get back on this thread.

i shouldve clarified, i didnt mean a turn in the trend, just a very minor move within it.

PA at the time led me to this conclusion.

(lol, i shouldve known id catch hell for "thinking"! and my wife thought she had me trained so well!)

I wasn't picking you out specifically Snow. But I've received quite a few PM's lately asking me to explain why the HTF's are important since we use the 15M as the "trigger" for entries.

Your question simply opened the door for me to answer a few of these. So, for all those who already get the importance of the HTF's, please ignore...

I should add that most of the folks who have sent these PM's do so because they are too embarrassed to ask what they feel is a dumb question in open forum. Folks, the only dumb question is one NOT asked. We are all learning and the question you ask will likely help others as well.

Sometimes I don't even know what to ask about . Therefore I much appreciate when you folks reason in detail why you entered a trade.

Not that we deal in fundamentals here but:

http://news.bbc.co.uk/1/hi/business/8467007.stm

Hello everybody

Hey McFly good morning

Hi All,

Just close my short 6425 on GU, closed on the touch of ema62 1H, still short EJ looking for area 129.35.

Good morning MCFly and 4 fun. I hope you are both well

Hello sailor i hope you are well

Just my thoughts, but I think where some people go wrong when looking at the HTF especially in this thread, is to look at them and say "the daily is in an uptrend so I'm going long" or "the 4hr is in a downtrend so I'm going short" The thing to bear in mind is that all trends come to an end at some point, there are also trends within trends. What EO and Pippinole do well, is look for those turning points either through candles, s/r or a mixture of both on the HTF then look to pinpoint the entry on the 15min.

Like in pippinole's example that he posted about last Friday. He saw a pin on the 4hr chart that has a high probability the price is going to turn up (even though the 4hr was in a downtrend you might say). He likes to take trades on pins roughly half way down the wick, so he was looking for trades before it reached it. What has helped me a LOT is before taking a trade at all I take a look once a day at the end of the daily candle, just to see if there is any particular candle pattern or we are nearing support of any kind on that timeframe, then before I take a trade on the 15min I glance at the 4hr and 1hr to see if there also there might be s/r or a candle pattern that tells me it might go in a different direction to what the 15min is telling me.

The other main thing that helps is, although you might put in a long and the price goes up, you really have no idea how far that will go, so make sure you cover yourself, get your SL to break even as soon as possible without smothering the trade and be ready to take profit (at least some) when it looks like it might turn around again. If you get stopped out at BE you can always go in again if it still looks good, maybe you were just a bit early.

Take this for what it is, just the way I started to trade but hopefully it might help a bit for someone.

E/u is at a point where buyers have been all month so far. Hi Gladis all is well thanks

E/j yesterdays low trying to turn resistance

Hi Gladis,

yes today well, this month only one day not so good (a little loss) but its not finish.
When i check my stats, every monday i start slowly (maybe because of some party on week end ), but thursday and friday usually i finish very well.

Did anyone take notice of the completion of the right shoulder of an inverted shampoo on the H4 charts on January 7? If you did, you'll notice we've been on a northerly march ever since.
Okay, that's enough TA for me. It makes my head hurt!

[quote=cisco;3378272]Did anyone take notice of the completion of the right shoulder of an inverted shampoo on January 7? If you did, you'll notice we've been on a northerly march ever since.
Okay, that's enough TA for me. It makes my head hurt![/quotegood morning Cisco . i hope you are well apart from the head

Good morning, Gladis, my little headless pole dancer.

Would you mind posting a chart of this please and showing where your neckline would be,thanks