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Trade what you see NOT what you expect

  • #34,541
  • Dec 6, 2011 12:40am Dec 6, 2011 12:40am
I have been checking this thread newly and found it very simple and useful. Now i am trying to understand and get used to it.
However, i am still tryin to understand the idea.

For example, i want to ask you whether it is correct or not to enter long with attached setup.

Pls see arrow under pending candle. I made long coz i see an upward trend which pierced through MA 35 (YELLOW)

I was unsure to open long or short and i have chosen long. Pls comment...
I am confused abd 35/50 crosses.
Attached Image (click to enlarge)
Click to Enlarge Name: dre.gif Size: 43 KB
Good Hunting!
  • #34,542
  • Dec 6, 2011 1:22am Dec 6, 2011 1:22am
Quoting Arokh Dark
I have been checking this thread newly and found it very simple and useful. Now i am trying to understand and get used to it.
However, i am still tryin to understand the idea.

For example, i want to ask you whether it is correct or not to enter long with attached setup.

Pls see arrow under pending candle. I made long coz i see an upward trend which pierced through MA 35 (YELLOW)

I was unsure to open long or short and i have chosen long. Pls comment...
I am confused abd 35/50 crosses.
35/50 crosses are when price (in one 15min candle) passes through both the 35sma and 50 ema or 50sma and closes on the other side. Usually best taken as a retracement trade. So for example, if price had travelled a bit further up with that large candle and closed the other side of the 50ma Eohater would have taken a trade in the opposite direction (in this case a sell) at the open of the next candle. Reasons being, we are currently in a downtrend on 15min, and we are still below the 10ema on the 1hr. The green candle didn't quite make it that far.

In the very first post of this thread, there is an excellent worksheet called Intraday Trading Worksheet.doc which if you read that and check your charts with that in mind before you start trading each morning, should leave you in no doubt as to whether you should be going long or short.
  • #34,543
  • Dec 6, 2011 1:33am Dec 6, 2011 1:33am
Quoting Arokh Dark
I have been checking this thread newly and found it very simple and useful. Now i am trying to understand and get used to it.
However, i am still tryin to understand the idea.

For example, i want to ask you whether it is correct or not to enter long with attached setup.

Pls see arrow under pending candle. I made long coz i see an upward trend which pierced through MA 35 (YELLOW)

I was unsure to open long or short and i have chosen long. Pls comment...
I am confused abd 35/50 crosses.

35/50 cross is when a single candle cross both 35 and 50 MA together and close. It is more appropriate when it closes with little or no wick and it is usually use for retracement trade. The stop loss is about 35 pips from the last candle that close above or below.

Now this candle cross 35 and near 50 before it closed. But what interest me is that the candle has no wick so i went short near 62ema. I have already bank 15pips and move to BE.

EDIT: ohammond has anwser it before I posted mine. Well answered. But I think there is a place where EO considered a candle that did'nt cross both the MA. It crossed one and near the other MA. I will check and post when I find it
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,544
  • Dec 6, 2011 1:50am Dec 6, 2011 1:50am
This is the chart. I was talking about GU here

http://gyazo.com/e3bfd89caaaad9a74e0c2b978126f4f9
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,545
  • Dec 6, 2011 1:57am Dec 6, 2011 1:57am
Quoting ejiexe
35/50 cross is when a single candle cross both 35 and 50 MA together and close. It is more appropriate when it closes with little or no wick and it is usually use for retracement trade. The stop loss is about 35 pips from the last candle that close above or below.

Now this candle cross 35 and near 50 before it closed. But what interest me is that the candle has no wick so i went short near 62ema. I have already bank 15pips and move to BE.

EDIT: ohammond has anwser it before I posted mine. Well answered. But I think there is a place where EO...
Yes there is a post somewhere about that I remember reading it.
  • #34,546
  • Dec 6, 2011 2:14am Dec 6, 2011 2:14am
Quoting ohammond
35/50 crosses are when price (in one 15min candle) passes through both the 35sma and 50 ema or 50sma and closes on the other side. Usually best taken as a retracement trade. So for example, if price had travelled a bit further up with that large candle and closed the other side of the 50ma Eohater would have taken a trade in the opposite direction (in this case a sell) at the open of the next candle. Reasons being, we are currently in a downtrend on 15min, and we are still below the 10ema on the 1hr. The green candle didn't quite make it that far....
Thanks for your very clear and deep answer. Really you helped me.
Good Hunting!
  • #34,547
  • Dec 6, 2011 2:16am Dec 6, 2011 2:16am
Quoting ejiexe
35/50 cross is when a single candle cross both 35 and 50 MA together and close. It is more appropriate when it closes with little or no wick and it is usually use for retracement trade. The stop loss is about 35 pips from the last candle that close above or below.

Now this candle cross 35 and near 50 before it closed. But what interest me is that the candle has no wick so i went short near 62ema. I have already bank 15pips and move to BE.

EDIT: ohammond has anwser it before I posted mine. Well answered. But I think there is a place where EO...
I was going to ask ohammond abt this matter. cross 35 and stay near 50.
You also cleared this matter.

Frankly speaking i have notexpecting fast answers lile that.
great thanks.
Good Hunting!
  • #34,548
  • Dec 6, 2011 2:54am Dec 6, 2011 2:54am
Quoting ejiexe
This is the chart. I was talking about GU here

http://gyazo.com/e3bfd89caaaad9a74e0c2b978126f4f9
I did not understand this one.

which color is 35 ma?

did you open short, at the opening of red candle you point?
Good Hunting!
  • #34,549
  • Dec 7, 2011 6:50am Dec 7, 2011 6:50am
Why this topic is dead i wonder...
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  • #34,550
  • Dec 7, 2011 11:12pm Dec 7, 2011 11:12pm
Quoting Arokh Dark
I did not understand this one.

which color is 35 ma?

black and light green is 50


did you open short, at the opening of red candle you point?

yes
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,551
  • Dec 8, 2011 12:30am Dec 8, 2011 12:30am
Quoting ejiexe
[/color]
yes
so next candle is a green one with long upperwick. did it stopped?
Good Hunting!
  • #34,552
  • Jan 1, 2012 1:27am Jan 1, 2012 1:27am
Happy New Year everyone: here's to many pips in 2012!



Cheers.
Cap
  • #34,553
  • Jan 1, 2012 11:41pm Jan 1, 2012 11:41pm
Quoting The Captain
Happy New Year everyone: here's to many pips in 2012!



Cheers.


Happy New year to all guys and ladies. I hope this year is gona give us plenty of pips.

I personally miss EO so much. He is a great man!
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,554
  • Jan 23, 2012 8:15am Jan 23, 2012 8:15am
Quoting The Captain
Happy New Year everyone: here's to many pips in 2012!



Cheers.
Bonne Annee 2012 with £$£ $£$
  • #34,555
  • Jan 25, 2012 6:46am Jan 25, 2012 6:46am
ahhhh...lady bird
Hi, my name is Barry and you can keep your doctor...
  • #34,556
  • Jan 25, 2012 6:56am Jan 25, 2012 6:56am
Happy new year all (bit late I know).

I'm going to start posting some damn charts on this thread, it's as dead as the late Jack McDeadman, so dead that dead people used to ring him up and say "man, I thought I was dead but jeez, you're like properly dead".

  • #34,557
  • Feb 1, 2012 6:34am Feb 1, 2012 6:34am
Quoting Trotty
I'm going to start posting some damn charts on this thread
Hi, my name is Barry and you can keep your doctor...
  • #34,558
  • Feb 1, 2012 12:26pm Feb 1, 2012 12:26pm
Quoting cisco
Patience, patience.....
  • #34,559
  • Feb 1, 2012 11:30pm Feb 1, 2012 11:30pm
OK, I'll make some contribution. I've read all the pdf-s and been reading the thread like a month now (every day little by little). I have to say that first 100 pages were the most informative.

Here's a chart. Longs are favored.
Attached Image (click to enlarge)
Click to Enlarge Name: pin hourly gu 01.02.12.gif Size: 21 KB
  • #34,560
  • Feb 2, 2012 7:28am Feb 2, 2012 7:28am
Quoting 1pipperhour
OK, I'll make some contribution. I've read all the pdf-s and been reading the thread like a month now (every day little by little). I have to say that first 100 pages were the most informative.

Here's a chart. Longs are favored.
Supply and demand??? Give me a break! You're in the wrong thread with that junk. Go see Ken's thread and drink some of his kool-aid.
Hi, my name is Barry and you can keep your doctor...
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