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Trade what you see NOT what you expect

  • #34,341
  • Apr 18, 2011 7:50am Apr 18, 2011 7:50am
Quoting albchr
4250 to the pip. Let's see what she does from here.
Momentum south. Would'nt be surprise to see a close below this level for the day and come back tomorrow for a retest before further action south the 1.4000 S/R area which also coincides with area of the daily 50EMA and another level not discussed. Lets see but its fair to say that I missed the lot
  • #34,342
  • Edited 9:35am Apr 18, 2011 9:22am | Edited 9:35am
Does anybody like what has printed on the Cable 15 minute chart?

Was only good for 8.

Cannot believe I got called into work right before the big move.
Cap
  • #34,343
  • Apr 18, 2011 10:12am Apr 18, 2011 10:12am
Anyone catch the Bull pin on EU H1? Darn school work, missed most of the moves today. Measly 10 pips for me so far.
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  • #34,344
  • Apr 18, 2011 10:46am Apr 18, 2011 10:46am
Quoting Ahsanfx
Anyone catch the Bull pin on EU H1? Darn school work, missed most of the moves today. Measly 10 pips for me so far.
I thought for sure it would run down the wick and I would jump on it there. Hey enjoy your 10 pips, I so far have 0 after the spike took out my 35 pips I was up on GU. And it looks like I may end up -10 on a current GU short.

Looks like you are making good use of that indicator I gave you. How do you like it?
Cap
  • #34,345
  • Apr 18, 2011 12:33pm Apr 18, 2011 12:33pm
Hey everyone, I just finished reading all the PDF's and I'm starting to read the whole thread, but I'd like to start following along real time as well. This seems like a great strategy and I'd like to thank EOHater and all of the other people who have contributed their knowledge and posted example trades etc.

I am looking at the charts, and am wondering if anyone else thinks the 1.6290 area could be a good place to look for PA for shorts. It has the confluence of yesterday's low, 1h 62 ema, and prior resistance area on 4h. Also it would be near a 61.8 retracement of the recent move down.

I know the overall trend is long, so I'm mostly just thinking out loud and wondering if I'm looking at things the right way. Please tell me if I missing anything or if there is a better way to be looking at possible trades.

Thanks!

Cory
  • #34,346
  • Apr 18, 2011 12:53pm Apr 18, 2011 12:53pm
Quoting The Captain
I thought for sure it would run down the wick and I would jump on it there. Hey enjoy your 10 pips, I so far have 0 after the spike took out my 35 pips I was up on GU. And it looks like I may end up -10 on a current GU short.

Looks like you are making good use of that indicator I gave you. How do you like it?
Oh my brother it is probably going to come down the wick......and maybe beyound!
Please ask questions and share your experiences with us all!
  • #34,347
  • Apr 18, 2011 1:17pm Apr 18, 2011 1:17pm
Thank you for this thread and to all those that contributed. I am officially hooked
Everybody dies but not everybody lives
  • #34,348
  • Apr 18, 2011 1:52pm Apr 18, 2011 1:52pm
Quoting The Captain
I thought for sure it would run down the wick and I would jump on it there. Hey enjoy your 10 pips, I so far have 0 after the spike took out my 35 pips I was up on GU. And it looks like I may end up -10 on a current GU short.

Looks like you are making good use of that indicator I gave you. How do you like it?
I love the Indicator, makes having to plot s/r lines so much easier. Your Parameter settings work perfectly, thanks for that.
  • #34,349
  • Apr 18, 2011 3:06pm Apr 18, 2011 3:06pm
Quoting Ahsanfx
I love the Indicator, makes having to plot s/r lines so much easier. Your Parameter settings work perfectly, thanks for that.
What post was that indicator listed please?
Please ask questions and share your experiences with us all!
  • #34,350
  • Apr 18, 2011 3:40pm Apr 18, 2011 3:40pm
Quoting bkg102665
What post was that indicator listed please?
http://www.forexfactory.com/showpost...ostcount=34021
  • #34,351
  • Edited 8:42pm Apr 18, 2011 7:58pm | Edited 8:42pm
Quoting Ahsanfx
http://www.forexfactory.com/showpost...ostcount=34021
Here are the settings that work best for me. Ashan I have just tweaked it slightly from the settings I gave you. These settings will do the following:

On a daily chart marks the highs of candles which have 4 lower candles on either side (swing high) looking back 300 days.

On a daily chart marks the lows of candles which have 4 higher candles on either side (swings low) looking back 300 days.

Timframe: D1
Lookback candles: 300
Include Current Candle: False
Bandwidth Pips: 5
Frequency Levels:1,2,3
Frequency Colors: LightSkyBlue,royalblue,gold
include next band above: true
Visibility Level: 4,4
Clearance Pips: 0
CandleHighsValid: True
CandleLowsValid: True
CandleOpenValid False
CandleCloseValid: False
PlotProximityPips: (how far away you want lines, put to whatever you want)
RefreshEveryXMins: 15

This saves me a great deal of time plotting S&R and you will find these lvels to be very powerful. Enjoy
Cap
  • #34,352
  • Apr 19, 2011 8:27am Apr 19, 2011 8:27am
Quoting The Captain
Here are the settings that work best for me. Ashan I have just tweaked it slightly from the settings I gave you. These settings will do the following:

On a daily chart marks the highs of candles which have 4 lower candles on either side (swing high) looking back 300 days.

On a daily chart marks the lows of candles which have 4 higher candles on either side (swings low) looking back 300 days.
Thank you Captain. Very useful indicator and settings.
  • #34,353
  • Apr 19, 2011 9:17am Apr 19, 2011 9:17am
Quoting The Captain
Here are the settings that work best for me. Ashan I have just tweaked it slightly from the settings I gave you....
Just a quick question about the settings....I was using the Lookback Candles 300 setting until I noticed that I had run out of s/r bands on EU the other week as we hadn't been up that far for a long time, and I increased that number, is that what you did, or something else?
  • #34,354
  • Apr 19, 2011 9:39am Apr 19, 2011 9:39am
Quoting Ahsanfx
Anyone catch the Bull pin on EU H1? Darn school work, missed most of the moves today. Measly 10 pips for me so far.
Ahsanfx,

can you kindly tell me which of the EO setup this trade is based upon?

I have followed the latest posts for a while, I don't think any of the trades are following the original rule/setup.

Captain also mentioned that one should learn 'how' to trade from EO but not the system/setup.

As a new comer for this thread, it is hard to understand how to start, to be honest. Yes, I did read EO's PDF.

cheers,
  • #34,355
  • Edited 1:45pm Apr 19, 2011 1:31pm | Edited 1:45pm
Quoting leelar
Ahsanfx,

can you kindly tell me which of the EO setup this trade is based upon?

I have followed the latest posts for a while, I don't think any of the trades are following the original rule/setup.

Captain also mentioned that one should learn 'how' to trade from EO but not the system/setup.

As a new comer for this thread, it is hard to understand how to start, to be honest. Yes, I did read EO's PDF.

cheers,
This has never been a "system" with rules as you would normally see on Forex Factory, so to say "I don't think any of the trades are following the original rule/setup" shows you have a lot more reading to do. The pdf is only the start, the best thing I found to do was read all of EO and Infinity's posts study the charts they posted and look back if possible on your own charts for that date looking at the higher time frames at the same time.

The idea is to take support/resistance from the higher timeframes, and then looking at price action on the lower timeframes to make a more accurate entry with a much smaller stop loss. We take bounces off of ma's also, but they are also best taken when coupled with higher timeframe s/r.

The chart Ahsanfx showed was price action (pin) off of higher time frame (daily) support. He showed the 5min which I use as well, some prefer the 15min, some prefer to wait for the hourly to show signs of turning before jumping in, as it did when it turned into the pin that ahsanfx pointed out on the hourly, some will take a chance before that, some would have put the trade in as soon as it hit support with a stop loss of about 6 pips, there are no hard and fast rules, but the principle is the same, watch price action around areas of interest (support/resistance on the higher timeframes).

I couldn't actually look at a chart now without EOhaters ma's on it because they show me "where price is" if that makes sense, used as floating s/r.

There are certain "setups" that happen over and over again like the 1 or 5 o'clock bounce, 1hr 62 bounce but it is much more than that.

Take a look at this post: http://www.forexfactory.com/showpost...7&postcount=56 it shows the ma's are jumbled up, which is showing a sideways market, something that most "systems" wouldn't be able to trade and look at how EOhater would have traded.

Hope that helps.
  • #34,356
  • Apr 19, 2011 2:28pm Apr 19, 2011 2:28pm
Quoting ohammond
Just a quick question about the settings....I was using the Lookback Candles 300 setting until I noticed that I had run out of s/r bands on EU the other week as we hadn't been up that far for a long time, and I increased that number, is that what you did, or something else?
I didn't do that but yes that would be the thing to do if you wanted to lookback further.

Great post before this one as well!
Cap
  • #34,357
  • Apr 19, 2011 3:11pm Apr 19, 2011 3:11pm
Quoting The Captain
I didn't do that but yes that would be the thing to do if you wanted to lookback further.

Great post before this one as well!
Thanks Captain! Much appreciated from a trader such as yourself.
  • #34,358
  • Apr 19, 2011 4:07pm Apr 19, 2011 4:07pm
Hello, is it possible for anyone to post live trades they are in right now with this system? I would like to follow and see how they trade what they see and not what they expect.
The Black Swan: The Impact of the Highly Improbable
  • #34,359
  • Edited 4:36pm Apr 19, 2011 4:20pm | Edited 4:36pm
Quoting MapleLeaf
Hello, is it possible for anyone to post live trades they are in right now with this system? I would like to follow and see how they trade what they see and not what they expect.
Check out your EJ 1 hour chart.

Edit: Well there's a great example of nothing being for sure. Flat m15 close right on the H1 62ema and she blew right through.
Cap
  • #34,360
  • Apr 19, 2011 9:10pm Apr 19, 2011 9:10pm
Quoting MapleLeaf
Hello, is it possible for anyone to post live trades they are in right now with this system? I would like to follow and see how they trade what they see and not what they expect.
+1 from me.
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