Trade what you see NOT what you expect | Page 1713 | Forex Factory

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Trade what you see NOT what you expect

  • #34,241
  • Apr 14, 2011 5:43am Apr 14, 2011 5:43am
Quoting Razor_trader
This pin has my attention. While I am kinda looking bearish after the triple top, we didnt come back yet to retouch the TL which can happen quiite often. Price has bounced off the 200EMA, Stochs turning up, pin bar is very nice also. Trade set for a break, looking at 25-30 pips before looking at the retest of the underside.

RT

PS thanks Captain for the reply earlier
Partial profit taken and SL move to BE, target now the backside of the trendline around 4440. Will move the balance of the SL to lock in profit as it moves until either TP or SL is hit.

RT
  • #34,242
  • Apr 14, 2011 6:15am Apr 14, 2011 6:15am
Quoting nlidd
did anybody take H1 62EMA trade? 3 wicks on M15 give shows time to go long. Text book trade!
I missed that one, but entered LONG on a confirmation bounce on H4 PPA and already took 30 pips profit while I was typing this post.
Attached Image (click to enlarge)
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  • #34,243
  • Apr 14, 2011 6:26am Apr 14, 2011 6:26am
Close EUR long with trendline break after moving SL behind it. Total move netted an average of 23 pips so a solid 2.2% to get me started today.

Where do we go from here. We just missed the trendline bounce, no real PA on anything yet (except a pin/BEOB on the 5 min chart if you trade that low). Sidelines now

RT
  • #34,244
  • Apr 14, 2011 6:28am Apr 14, 2011 6:28am
Quoting Haydel
I missed that one, but entered LONG on a confirmation bounce on H4 PPA and already took 30 pips profit while I was typing this post.
Nice, BE+2 is a big win in my books. You had the opportunity to trade, executed and are now protected. If the trade runs then that is great, if it comes back then spread is covered and you live to fight another day.

Take care

RT
  • #34,245
  • Apr 14, 2011 6:50am Apr 14, 2011 6:50am
Something evil in the brewing here.

I prefer downside on cable, break of 6213 TP target is 5780-5840. Expanding trianlge formation of H4 gives a hint that we could potentially touch recent highs once again, before initiating a down move toward 5900 area.

Upside has limited potential, however a break above 6367 could trigger a long trade for a good 100 pips, however R/R is just not there.

Metals however are overheated and could drive price action on majors higher. XAU USD currently 1464 break above recent high means more upside capped by strong resistance (this month at least) at 1488-1520.

Personally I step on the sidelines for now and wait for the topping action on majors/metals, before a nice pullback could be expected on the GBP USD.

GBP JPY and EUR JPY look interesting, since there is a high probability those will revisit recent lows.
  • #34,246
  • Apr 14, 2011 7:15am Apr 14, 2011 7:15am
Greeting traders! I've got my short seat at 6340.
Just digging in the trenches like everyone else!
  • #34,247
  • Apr 14, 2011 7:22am Apr 14, 2011 7:22am
Quoting eohater
Greeting traders! I've got my short seat at 6340.
Good to see you still knocking around your own thread EO!

What was your driver for the short here?
  • #34,248
  • Apr 14, 2011 7:24am Apr 14, 2011 7:24am
Quoting eohater
Greeting traders! I've got my short seat at 6340.
So glad to see you around. Could you explain what make you short?
  • #34,249
  • Apr 14, 2011 7:29am Apr 14, 2011 7:29am
Quoting eohater
Greeting traders! I've got my short seat at 6340.
Hey there buddy! Glad to see you around again.
  • #34,250
  • Apr 14, 2011 7:30am Apr 14, 2011 7:30am
Anyone catch the long off that pin on H4, EJ?

Was a fraction slow, might look for a pullback to go long.
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  • #34,251
  • Apr 14, 2011 7:31am Apr 14, 2011 7:31am
Quoting nlidd
So glad to see you around. Could you explain what make you short?
You mean the short that I just lost 25 pippers on?
Just digging in the trenches like everyone else!
  • #34,252
  • Apr 14, 2011 7:33am Apr 14, 2011 7:33am
Quoting eohater
You mean the short that I just lost 25 pippers on?
lol we all have our moments Your loss is my gain. +20 off that break
  • #34,253
  • Apr 14, 2011 7:35am Apr 14, 2011 7:35am
Guys I think it's fairly obvious that cable will retest the upper line, considering strong price action across metals market.

http://img707.imageshack.us/img707/4080/gbpusd4h2.png
  • #34,254
  • Apr 14, 2011 7:36am Apr 14, 2011 7:36am
Quoting eohater
You mean the short that I just lost 25 pippers on?
LOL, have long you have not been loss? do you mean you had stop out? what's you plan for this trade?
  • #34,255
  • Apr 14, 2011 7:40am Apr 14, 2011 7:40am
Quoting Trotty
Anyone catch the long off that pin on H4, EJ?

Was a fraction slow, might look for a pullback to go long.
Hey Trotty, what broker feed are you running as I dont have the pin on my h4?
  • #34,256
  • Apr 14, 2011 7:43am Apr 14, 2011 7:43am
Quoting Ahsanfx
Hey Trotty, what broker feed are you running as I dont have the pin on my h4?
My charting is on Alpari UK.
  • #34,257
  • Apr 14, 2011 7:44am Apr 14, 2011 7:44am
Quoting Trotty
My charting is on Alpari UK.
aaaah ok. Thanks buddy!
  • #34,258
  • Apr 14, 2011 7:46am Apr 14, 2011 7:46am
Quoting Ahsanfx
aaaah ok. Thanks buddy!
No problem mate. I find that M15 charts are often fairly consistent between platforms/timezones but H4 can be very different.
  • #34,259
  • Apr 14, 2011 8:01am Apr 14, 2011 8:01am
Small short before heading to bed, break off the 15M pin from previous low congestion area, Stochs are turning south. Looking for a small 25 pip gain back to recent highs. SL is tight, running just above the pin

RT
  • #34,260
  • Apr 14, 2011 8:05am Apr 14, 2011 8:05am
Quoting Razor_trader
Small short before heading to bed, break off the 15M pin from previous low congestion area, Stochs are turning south. Looking for a small 25 pip gain back to recent highs. SL is tight, running just above the pin

RT
Good luck!
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