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Trades based on Market Geometry and Price Action

  • #3,181
  • Aug 11, 2011 12:00am Aug 11, 2011 12:00am
fakey set up on the nzd/usd 4hr chart...
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.usd.gif Size: 12 KB
  • #3,182
  • Aug 11, 2011 12:03am Aug 11, 2011 12:03am
i guess london session would trigger the down
  • #3,183
  • Aug 11, 2011 12:07am Aug 11, 2011 12:07am
Quoting dailyking
fakey set up on the nzd/usd 4hr chart...

Does that mean your previous post showing a short on H1 chart is invalidated by this later fakey on a H4 chart, or this H4 chart is just showing how the fakey might have faked others into thinking they should long instead of short? I'm still trying to learn this, so I appreciate it if you have the time to explain a bit more what is no doubt obvious to you but still unclear to me.
Thanks!
  • #3,184
  • Aug 11, 2011 12:24am Aug 11, 2011 12:24am
o.k. the 1hr chart i posted earlier. i took the trade, and this one i will take it to reinforce the trade. the fakey is a false break out, insiders use to trick people...so they make you believe the trend will go in a certain direction, and then take the opposite....more here..

http://www.learntotradethemarket.com...etups-in-forex
  • #3,185
  • Aug 11, 2011 1:43am Aug 11, 2011 1:43am
usd looks kinda weak and the bull movements look relatively strong. hopefully we see a pin bar for this hourly
  • #3,186
  • Aug 11, 2011 1:57am Aug 11, 2011 1:57am
Quoting dailyking
o.k. the 1hr chart i posted earlier. i took the trade, and this one i will take it to reinforce the trade. the fakey is a false break out, insiders use to trick people...so they make you believe the trend will go in a certain direction, and then take the opposite....more here..

http://www.learntotradethemarket.com...etups-in-forex
Thanks. I'll look at that video.
  • #3,187
  • Aug 11, 2011 2:01am Aug 11, 2011 2:01am
it gives u a guide on how this market works. but do bear in mind that stop loss is still important in case it doesnt turn out to be a fakie. hopefully london session will show something.
  • #3,188
  • Aug 11, 2011 2:30am Aug 11, 2011 2:30am
the market is moving down finally. come on.. longer longer !!! actually dk, i feel that this fakey isnt really obvious actually. but a very good spot on that !
  • #3,189
  • Aug 11, 2011 2:37am Aug 11, 2011 2:37am
Quoting edwinsieng
it gives u a guide on how this market works. but do bear in mind that stop loss is still important in case it doesnt turn out to be a fakie. hopefully london session will show something.
Thanks for the tip. I've learned about the importance of SL the hard way, and good to be reminded!
  • #3,190
  • Aug 11, 2011 2:38am Aug 11, 2011 2:38am
im having a 3 pips gain now haha ! i tink im cute =X
  • #3,191
  • Aug 11, 2011 2:58am Aug 11, 2011 2:58am
I didn't think the fakey was very obvious. Is it the big block type thing that you mean that was the fake upthrust?

BTW, am I the only one that finds inverted patterns more difficult to interpret. I think it's got something to do with the mind.
  • #3,192
  • Aug 11, 2011 3:03am Aug 11, 2011 3:03am
You're already in Edwinsieng? I'm not. using Alpari UK.
  • #3,193
  • Aug 11, 2011 3:18am Aug 11, 2011 3:18am
I took the early and later entry. Together with this new entry. Will be waiting and see now
  • #3,194
  • Aug 11, 2011 3:20am Aug 11, 2011 3:20am
Basically Nzdusd is a down movement but it went up but still staying within the down area. When it tries to break high, it gets huge rejection. And the real movements come later. Check the video out. It is very useful
  • #3,195
  • Aug 11, 2011 3:52am Aug 11, 2011 3:52am
I see. I have seen the videos a long time ago, maybe will check again.
  • #3,196
  • Aug 11, 2011 3:55am Aug 11, 2011 3:55am
These 2 days are just weird. Too many sideway movements.
  • #3,197
  • Aug 11, 2011 7:39am Aug 11, 2011 7:39am
order cancelled on gbp/chf
  • #3,198
  • Aug 11, 2011 9:12am Aug 11, 2011 9:12am
market really slow today....
  • #3,199
  • Aug 11, 2011 11:00am Aug 11, 2011 11:00am
dk u still in nzdusd? i broke even and im out. but im seeing more obvious fake movements in the making. it really depends if there will be another strong down movement hourly to make back the fakey
  • #3,200
  • Aug 11, 2011 11:17am Aug 11, 2011 11:17am
yes you are right...i'm still in it, but down many pips..that's fine . the trend is still short
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