Trade what you see NOT what you expect | Page 1573 | Forex Factory

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Why did you start trading and what do you expect from it? 19 replies

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Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

  • #31,441
  • Feb 10, 2010 9:51am Feb 10, 2010 9:51am
Quoting bkg102665
Good morning everybody from North Carolina,USA. The big bad wolf is about to blow my house away, dang it's windy!!
Amen to that, I think we could give Chicago a run for their money today
  • #31,442
  • Feb 10, 2010 9:52am Feb 10, 2010 9:52am
Quoting endroute
Amen to that, I think we could give Chicago a run for their money today
Thanks for the alert you sent yesterday
Please ask questions and share your experiences with us all!
  • #31,443
  • Feb 10, 2010 10:05am Feb 10, 2010 10:05am
EO,

was that you who entered at the open of the second DBLHC candle on GU M15 and pulled the price up ;-)

tdeu
  • #31,444
  • Feb 10, 2010 10:12am Feb 10, 2010 10:12am
Quoting bkg102665
Thanks for the alert you sent yesterday
no problem. I keep expecting to see Dorthy and Toto go flying by my window at anytime.
  • #31,445
  • Feb 10, 2010 10:13am Feb 10, 2010 10:13am
did anyone take the long on the mrs, I had a po at the low for yesterday but price did not quite make it there.
  • #31,446
  • Feb 10, 2010 10:15am Feb 10, 2010 10:15am
Quoting tdeu
EO,

was that you who entered at the open of the second DBLHC candle on GU M15 and pulled the price up ;-)

tdeu
I entered prior to then at 5575.
Just digging in the trenches like everyone else!
  • #31,447
  • Feb 10, 2010 10:34am Feb 10, 2010 10:34am
what was your reason for that?

yesterday's low?

Quoting eohater
I entered prior to then at 5575.
  • #31,448
  • Feb 10, 2010 10:51am Feb 10, 2010 10:51am
Quoting eohater
I entered prior to then at 5575.
EO,

Me too. I saw support on the 4hr, 1hr, and 15m lining up nicely so I entered long with a 10pip SL. Just moved SL up to BE and holding tight. If close above 21ma then may add.

Thanks for a wonderful thread. Mucho learning going on!
  • #31,449
  • Feb 10, 2010 10:57am Feb 10, 2010 10:57am
Quoting tdeu
what was your reason for that?

yesterday's low?
Hi tdeu, I can't speak for EO but I took the same trade on the basis of 4h s/r at 15571 (my 4h candles close at 8am GMT etc.).

From the PA at this level over the last couple of days I thought it was worth a go at a bounce trade which I could take profit and cover quickly. I entered on the opening of the 15.30/45 gmt candle.

The 15.15/30 and the 15.30/45 candles, as well as producing an IB (DBLHC), could then be combined to form a hammer and the 15.45/16.00 gave a retrace back down the wick for an entry long.

A bit of a speculative trade for me as it was against the grain of a fairly aggressive drop, hence the quick take profit and cover.

Macc
  • #31,450
  • Feb 10, 2010 10:57am Feb 10, 2010 10:57am
Hi zeep,

do you mean the PA line at 5583 on 4h?

tdeu

Quoting zeep
EO,

Me too. I saw support on the 4hr, 1hr, and 15m lining up nicely so I entered long with a 10pip SL. Just moved SL up to BE and holding tight. If close above 21ma then may add.

Thanks for a wonderful thread. Mucho learning going on!
  • #31,451
  • Feb 10, 2010 11:00am Feb 10, 2010 11:00am
Hi macc,

can you post a chart, where you draw the 4hr s/r from?

cheers

tdeu

Quoting macc
Hi tdeu, I can't speak for EO but I took the same trade on the basis of 4h s/r at 15571 (my 4h candles close at 8am GMT etc.).

From the PA at this level over the last couple of days I thought it was worth a go at a bounce trade which I could take profit and cover quickly. I entered on the opening of the 15.30/45 gmt candle.

The 15.15/30 and the 15.30/45 candles, as well as producing an IB (DBLHC), could then be combined to form a hammer and the 15.45/16.00 gave a retrace back down the wick for an entry long.

A bit of a speculative trade for me...
  • #31,452
  • Feb 10, 2010 11:04am Feb 10, 2010 11:04am
Hi EO,

do you use a pending order for the retrace entry with a DBLHC/DBHLC?

tdeu
  • #31,453
  • Feb 10, 2010 11:04am Feb 10, 2010 11:04am
Quoting tdeu
Hi zeep,

do you mean the PA line at 5583 on 4h?

tdeu
Td, I'm pretty new so please be patient with my posts. I simply saw support on three time frames and figured alot of other traders would too. so far so good. locked in a few pips.
  • #31,454
  • Feb 10, 2010 11:16am Feb 10, 2010 11:16am
Quoting tdeu
Hi macc,

can you post a chart, where you draw the 4hr s/r from?

cheers

tdeu
Here you go.

I tend to grade my lines of s/r for weak or strong areas. The lighter lines (if they show up on my posted chart) being the weaker areas which will get my attention for initial short term bounce trades.

As the 15571 level had bounced price around on the 15m the last couple of days (I had a secondary level at 15559) I thought it would be worth a go this time. My stop was reasonably tight being below yesterday's low. As I mentioned, I took some off and covered quickly.

Macc
Attached Image (click to enlarge)
Click to Enlarge Name: GU 4h.png Size: 47 KB
  • #31,455
  • Feb 10, 2010 11:50am Feb 10, 2010 11:50am
Attached is the modified version to alert when the price crossed 35sma & 50sma to the other side. Previous version alerts at the cross where as this version alerts only after the completion of the bar.

I am silently reading and practicing EO's Gift. This is my humble attempt to contribute from my side. Sorry if this posting is not relevant to the spirit of this thread.



Quoting sam101
For 15M charts,I am using the attached MT4 indicator which contains 5ema, 10ema, 21ema, 35sma, 50sma, 50ema & 200sma.

When price crosses 35sma & 50sma to the otherside, it alerts with audio.
It has options to alert when price is pulling back to 5ema/10ema also.

I am not a programmer but I modified the indicator available in FF for using with EO's 15M chart setup.

Hope this will be useful.
Attached File(s)
File Type: mq4 MAs_EO_M15_Ver1.mq4   5 KB | 361 downloads
File Type: ex4 MAs_EO_M15_Ver1.ex4   7 KB | 332 downloads
  • #31,456
  • Feb 10, 2010 11:52am Feb 10, 2010 11:52am
Hi macc,

thanks for that. I found 5574 on my chart too.

I really have to train myself to see s/r as zones and not only lines.

cheers

tdeu

Quoting macc
Here you go.

I tend to grade my lines of s/r for weak or strong areas. The lighter lines (if they show up on my posted chart) being the weaker areas which will get my attention for initial short term bounce trades.

As the 15571 level had bounced price around on the 15m the last couple of days (I had a secondary level at 15559) I thought it would be worth a go this time. My stop was reasonably tight being below yesterday's low. As I mentioned, I took some off and covered quickly.

Macc
  • #31,457
  • Feb 10, 2010 12:02pm Feb 10, 2010 12:02pm
Quoting tdeu
Hi macc,

thanks for that. I found 5574 on my chart too.

I really have to train myself to see s/r as zones and not only lines.

cheers

tdeu
My charts can sometimes get a little crowded with s/r lines which is not ideal but I do have a system of colour coding and line thickness grading to add relevance to each and help me keep a bigger picture view.

I have the same problem of being drawn to "exact" numbers for horizontal s/r but I'm getting better at using them just for a head's up to tune in to a possible trade entry/exit

Macc
  • #31,458
  • Feb 10, 2010 12:04pm Feb 10, 2010 12:04pm
Hi Sam101,

very nice work. Thanks

would it be possible to have different sound for the 35/50 cross and the EMA touches?

would be cool to have a wav file, that says 35/50 cross

cheers

tdeu

Quoting sam101
Attached is the modified version to alert when the price crossed 35sma & 50sma to the other side. Previous version alerts at the cross where as this version alerts only after the completion of the bar.

I am silently reading and practicing EO's Gift. This is my humble attempt to contribute from my side. Sorry if this posting is not relevant to the spirit of this thread.
  • #31,459
  • Feb 10, 2010 12:06pm Feb 10, 2010 12:06pm
yes, sometimes it gets me, when I think price has closed below/above a line and I start to develop a bias regarding continuation or reversal

tdeu

Quoting macc
My charts can sometimes get a little crowded with s/r lines which is not ideal but I do have a system of colour coding and line thickness grading to add relevance to each and help me keep a bigger picture view.

I have the same problem of being drawn to "exact" numbers for horizontal s/r but I'm getting better at using them just for a head's up to tune in to a possible trade entry/exit

Macc
  • #31,460
  • Feb 10, 2010 12:07pm Feb 10, 2010 12:07pm
Quoting sam101
Attached is the modified version to alert when the price crossed 35sma & 50sma to the other side. Previous version alerts at the cross where as this version alerts only after the completion of the bar.

I am silently reading and practicing EO's Gift. This is my humble attempt to contribute from my side. Sorry if this posting is not relevant to the spirit of this thread.
Your post is very much in the spirit of the thread Sam. Any helping hand or shared experience for the benefit of the group is the sort of posting that sets this thread apart

Macc
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