Hi all,
time to short G/U?
time to short G/U?
Trade what you see NOT what you expect
I was wondering if that might be the case DD. It did seem more of a bounce off the 35MA with the MAs at 1 o'clock and I wasn't sure if the zone applied any more in that case (which was the question I was trying to ask, but not very well!).
Great, thanks.
DD has again given a good take on things again. I’m no expert but my additional comments on the chart you posted would be:
The first 35sma cross shows two other things to look out for. Firstly, after the cross there is a retrace (off the 1h62ma area) into the ma’s for an opportunity to enter in the direction of the cross (you mention the bounce off the 50ma). Second, when price makes a break and close above the 35 pip zone, the next candle retraces to the zone extreme for a chance to enter in the direction of the break.
The second visit to the 35sma on your chart (as you correctly mention) is a 35/50 cross which is a signal to go long on the close of the crossed candle. Three other things to note there is that the first crossing candle closed at the 1h 62ema (also an opportunity to play the reversal long). The next 15m candle made another 35/50 cross (a possible signal that she would reverse back short into/across the ma’s) and that second candle also gave us a DBLHC suggesting the next candle could retrace down the (combined) wick of the DBLHC for a better long entry (tighter stop).
Regarding your “hangman” comment, I personally see that as not a great hangman (top wick) and occurring in a bit of no man’s land. Price had pulled back from some s/r around 15050 (as you mention) and that candle made a retrace to the 1h 200sma and bounced quite strong. Ideally you would still be holding your long (some profit taken and covered to break even) from the good position off the 35/50 cross &/or 1h 62 bounce when she arrives to have another crack at the 15050 s/r.
Perhaps a good idea not to be totally zoomed in on the 15m chart and “exact” areas of +35 pips or s/r, but instead keep your third eye on the higher time frames while remaining flexible and ready to follow price where she wants to go. As EO has said recently, this is intraday trading and thus requires us to remain responsive/flexible.
Just me thinking aloud really. It is freaky Friday after all and the pub’s gravity is already starting to pull on me
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Hi guys
can't be around today, just i wanted to share with u the fact that finally today i recovered from the huge loss i got when i started trading with real money. It took time, patience... a lot of stress, but finally it's done!
Just wanted to share my joy with somebody who might understand the feeling
Wish u all green pips!
Dario
can't be around today, just i wanted to share with u the fact that finally today i recovered from the huge loss i got when i started trading with real money. It took time, patience... a lot of stress, but finally it's done!
Just wanted to share my joy with somebody who might understand the feeling
Wish u all green pips!
Dario
I don't want a job, i want money!
- #32,840
- Mar 12, 2010 5:35am Mar 12, 2010 5:35am
- Joined Oct 2009 | Status: The Voodoo Boodoo Club | 1,419 Posts
Hi guys
can't be around today, just i wanted to share with u the fact that finally today i recovered from the huge loss i got when i started trading with real money. It took time, patience... a lot of stress, but finally it's done!
Just wanted to share my joy with somebody who might understand the feeling
Wish u all green pips!
Dario
Now your even, time to start posting some green...