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Trade what you see NOT what you expect

  • #34,601
  • Mar 12, 2012 7:52am Mar 12, 2012 7:52am
Quoting Trader131
Thanks for the sim stuff, Trotty. I've set it up to run on 3 separate mt4 programs- quite a lot of faff involved, (ended up wiping off my normal profile by mistake!) but was working all weekend, so have yet to give it a proper go. I'm sure it'll help. Posting charts actually also helps with discipline as you're forced to stick with your plan! Taken half off for 20 pips sl to BE if I get stopped out there'll be another entry.
Absolutely. Good charts as well mate, keep them coming and I will do my best to as well. We can breath some life back into this thread between us
  • #34,602
  • Mar 12, 2012 7:59am Mar 12, 2012 7:59am
Quoting Trader131
I think that last 15min pin has put a spanner in the works for my remaining short. If I could hedge with my broker I'd try a small position long down the wick, reasons being prior pa and round no. support, but this is countertrend, and we've broken major higher tf support, so I'll leave my remaining soldier on the battlefield SL at +3 and see what happens.
Just a little something to add to your 4 hr view mate. We are testing the bottom trendline here as well as a fib extension. That green line is worth watching for any longs though but the break of support has not been that decisive yet.
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  • #34,603
  • Mar 12, 2012 8:04am Mar 12, 2012 8:04am
Thanks, Trotty. Yes, we'll do our bit to revive the thread. It certainly helps me to stick to my plan, and only take good setups and hopefully will help others. I see we're attracting a small crowd already- it'd be great to have some of the old EO afficinados posting charts here again too (hint, hint!) Stopped out on that last short as I type- I probably should have closed it on seeing the pin, but thought the higher tf would trump. Time for lunch then!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,604
  • Mar 12, 2012 8:11am Mar 12, 2012 8:11am
Quoting Trader131
Thanks, Trotty. Yes, we'll do our bit to revive the thread. It certainly helps me to stick to my plan, and only take good setups and hopefully will help others. I see we're attracting a small crowd already- it'd be great to have some of the old EO afficinados posting charts here again too (hint, hint!) Stopped out on that last short as I type- I probably should have closed it on seeing the pin, but thought the higher tf would trump. Time for lunch then!
Pips are pips, well done

I know that PipiNole, Turtle, Cisco and a couple of others do keep an eye on it. EO bobs his head in every few months. If they choose to post great, if not, I know that there are plenty of others trading EO's way or close to it to get this thread active again.
  • #34,605
  • Mar 12, 2012 8:15am Mar 12, 2012 8:15am
Yes, you may be right about that lower 4hr TL. I had hoped for a bit more momentum on the southbound train, but we are pretty oversold now, eurusd isn't doing much and EG seems toppy at .84, so a retrace could be on. Not for me now though, I'll just watch the 15 min PA (we haven't colsed above the 10 ma yet so could test the lows again).
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,606
  • Mar 12, 2012 8:36am Mar 12, 2012 8:36am
Quoting Trader131
Yes, you may be right about that lower 4hr TL. I had hoped for a bit more momentum on the southbound train, but we are pretty oversold now, eurusd isn't doing much and EG seems toppy at .84, so a retrace could be on. Not for me now though, I'll just watch the 15 min PA (we haven't colsed above the 10 ma yet so could test the lows again).
Don't get me wrong, I wouldn't want to have much of a long position right now. This is a bear market.

Look at friday's close on the daily charts, tells you all we need to know. Big bearish engulfing candle and a long, big bearish close. A decent close of today's candle below my green line confirms the bears are in command for now.
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  • #34,607
  • Mar 12, 2012 8:46am Mar 12, 2012 8:46am
Yes, I agree with you, and if we close above that green line, it will likely be a pinbar/hammer as well, taking us up to th 58 level again. Quick question- would you take this hangman south now?
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,608
  • Mar 12, 2012 8:48am Mar 12, 2012 8:48am
I have already
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,609
  • Mar 12, 2012 8:54am Mar 12, 2012 8:54am
Quoting Trader131
Yes, I agree with you, and if we close above that green line, it will likely be a pinbar/hammer as well, taking us up to th 58 level again. Quick question- would you take this hangman south now?
I didn't actually see it until it had already started south. Good for you if you took it as I reckon EO/Infinity probably would have.

What I like about that hangman is that it's the thrid bullish close in a row that has failed to breach the previous high from this morning at 56423. I also like the fact that volume spiked on it (not really EO stuff, sorry). I do prefer a bear close to short a hangman but I know that EO always said that the body colour on a hangman does not matter so who am I to argue!

Hangman entries are wonderful if you get them right as you can have tiny stops and often great runs off them.
  • #34,610
  • Mar 12, 2012 8:57am Mar 12, 2012 8:57am
Quoting Trader131
I have already
Aha! Well best of luck to you on it. I notice that the last H1 candle closed bearish and had forced a new low before being pushed back. Maybe a hint at where she wants to go in the future?

I think this H1 is going to close indecisively though.
  • #34,611
  • Mar 12, 2012 8:58am Mar 12, 2012 8:58am
Reasons for the trade- hangman forming on failure to get above white resistance line 1st tp top of previous pin roughly 20 pips may bail sooner- you know me!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,612
  • Mar 12, 2012 9:05am Mar 12, 2012 9:05am
Quoting Trotty
Pips are pips, well done

I know that PipiNole, Turtle, Cisco and a couple of others do keep an eye on it. EO bobs his head in every few months. If they choose to post great, if not, I know that there are plenty of others trading EO's way or close to it to get this thread active again.
You are correct Trotty, I pop my head in every once in awhile to see how everything is going.

Right now, I'm sitting flat to see if the EUR is gonna break this 1.3080 level.

HOLLA
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  • #34,613
  • Mar 12, 2012 9:09am Mar 12, 2012 9:09am
Hey turtle, good to see you!

Taken first TP at 5620 (18pips) sl to just above my white line now

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There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,614
  • Mar 12, 2012 9:15am Mar 12, 2012 9:15am
Quoting Trader131
Hey turtle, good to see you!

Taken first TP at 5620 (18pips) sl to just above my white line now

Attachment

Good job.

I miss that setup this morning at 0500, oh well. Their will be another bus coming soon.

HOLLA
  • #34,615
  • Mar 12, 2012 9:18am Mar 12, 2012 9:18am
Quoting Trader131
Reasons for the trade- hangman forming on failure to get above white resistance line 1st tp top of previous pin roughly 20 pips may bail sooner- you know me!
Yep, we had the same idea there. Great trade mate, you look as if you're doing well today
  • #34,616
  • Mar 12, 2012 9:20am Mar 12, 2012 9:20am
Quoting Turtle
You are correct Trotty, I pop my head in every once in awhile to see how everything is going.

Right now, I'm sitting flat to see if the EUR is gonna break this 1.3080 level.

HOLLA
Hey Turtle, nice to see you here! EU has been awful today, about 35 pips since LO. Grim.
  • #34,617
  • Mar 12, 2012 9:27am Mar 12, 2012 9:27am
Quoting Trotty
Yep, we had the same idea there. Great trade mate, you look as if you're doing well today
Yes, today has been good to me PA on GU has been great. keep an eye on EURGBP she's touching 84 now. If she breaks up that will help my GU trade. If she fails to breakout then EU may drop for turtle!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,618
  • Mar 12, 2012 9:50am Mar 12, 2012 9:50am
I'm out of the rest of that short now, as cable bounced again from the lows. EG failed to break above 84 that time, and that last 15min close was bullish. Price action got me in and price action got me out. Looks like we're getting into a range here.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,619
  • Mar 12, 2012 9:52am Mar 12, 2012 9:52am
and up she goes..
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,620
  • Mar 12, 2012 9:53am Mar 12, 2012 9:53am
Quoting Trotty
Hey Turtle, nice to see you here! EU has been awful today, about 35 pips since LO. Grim.
Yea, I closed my short from Friday earlier this morning, did a long for about 20+ pips up to around 1.3125 and been flat since, she is coiling up for her next move.

HOLLA
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