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Trade what you see NOT what you expect

  • #34,941
  • Mar 20, 2012 3:05pm Mar 20, 2012 3:05pm
Quoting Trader131
You mean after this 4hr pin I assume. Looks good, but not a great time of the day to trade, could just consolidate here, though we may see some movement into US close.
That's the one but it's a pin on one feed and not on another one.
  • #34,942
  • Mar 21, 2012 1:57am Mar 21, 2012 1:57am
Morning all, looks like all the action on happened overnight in Asia. Did anybody take the Aussie?
Attached Image
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,943
  • Mar 21, 2012 2:13am Mar 21, 2012 2:13am
I know bulls were in control overnight, but this 4hr cable chart caught my eye- last candle closed weak and we're on that trendline right now. Eurgbp went up as I thought it would when I posted the daily chart yesterday, so there could still be some room for more gbp weakness.
Attached Image (click to enlarge)
Click to Enlarge Name: cable4hr.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,944
  • Mar 21, 2012 2:28am Mar 21, 2012 2:28am
Shrotly after that last post we got a 15 min hangman close, so I entered straight after it closed at 83, taken half off here at 73 (I know it's only 10pips, but we're at 15 min support here). Can always re-enter higher
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,945
  • Mar 21, 2012 2:32am Mar 21, 2012 2:32am
Moved stop tight to 97 as if that last high gets taken out the setup will likely be invalidated
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,946
  • Mar 21, 2012 2:42am Mar 21, 2012 2:42am
Quoting Trader131
Morning all, looks like all the action on happened overnight in Asia. Did anybody take the Aussie?
No mate, never really got an in off the 15 min chart and I don't really take large stop trades if I can avoid it (lack the patience!)

I take it you didn't?

Nice little GU scalp there
  • #34,947
  • Mar 21, 2012 2:47am Mar 21, 2012 2:47am
Hey Trotty, hope you're well!

No I didn't take the Aussie either- At the moment, I prefer to be around when I'm trading, but I hope that with more confidence in my abilities(and a larger balance!), I might be more comfortable leaving trades with larger stops on.

Cable trade I'll leave now as it could become more than a scalp looking at the 4hr. Worst case is a net loss of 2 pips- time for breakfast!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,948
  • Mar 21, 2012 2:50am Mar 21, 2012 2:50am
Quoting Trader131
Hey Trotty, hope you're well!

No I didn't take the Aussie either- At the moment, I prefer to be around when I'm trading, but I hope that with more confidence in my abilities(and a larger balance!), I might be more comfortable leaving trades with larger stops on.

Cable trade I'll leave now as it could become more than a scalp looking at the 4hr. Worst case is a net loss of 2 pips- time for breakfast!
Enjoy! Catch up later mate.
  • #34,949
  • Mar 21, 2012 3:19am Mar 21, 2012 3:19am
Budget day in the UK today so GU could be volatile.
  • #34,950
  • Mar 21, 2012 3:25am Mar 21, 2012 3:25am
Checking in again and see that I was stopped out on cable for net -2pips. Price was rejected again from that 4hr trendline, back in the rising channel again.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,951
  • Mar 21, 2012 4:50am Mar 21, 2012 4:50am
Quoting Trotty
Budget day in the UK today so GU could be volatile.
You're right there!

Looking for a re-rentry short now, seems my idea was right about gbp weakness, I just entered too early and that fakie for the bulls took my stop. not taking the 35/50 showing now, as this is on major gbp news.
Attached Image (click to enlarge)
Click to Enlarge Name: cable4hr.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,952
  • Mar 21, 2012 4:56am Mar 21, 2012 4:56am
It'll be interesting to see if the 35/50 works this time- I'm not trading it, just watching, but that massive bear 15min candle did close right on the 1hr62ema, so who knows?
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,953
  • Mar 21, 2012 5:06am Mar 21, 2012 5:06am
Quoting Trader131
It'll be interesting to see if the 35/50 works this time- I'm not trading it, just watching, but that massive bear 15min candle did close right on the 1hr62ema, so who knows?
Feck, that's a big candle! I'm ashamed to admit that I took 11 pips on what I thought was a scalp entry on GU from the top (it was VSA stuff). never quite saw this drop coming.....
  • #34,954
  • Mar 21, 2012 5:10am Mar 21, 2012 5:10am
Quoting Trotty
Feck, that's a big candle! I'm ashamed to admit that I took 11 pips on what I thought was a scalp entry on GU from the top (it was VSA stuff). never quite saw this drop coming.....
Don't you just hate it when that happens! The 35/50 would have worked this time. If I were in it I'd take most off here- trying a small short off the 15min200sma
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,955
  • Mar 21, 2012 5:26am Mar 21, 2012 5:26am
Quoting Trader131
Don't you just hate it when that happens! The 35/50 would have worked this time. If I were in it I'd take most off here- trying a small short off the 15min200smaAttachment
Good luck mate. The H1 chart still doesn't exactly look bearish to me.
  • #34,956
  • Mar 21, 2012 5:39am Mar 21, 2012 5:39am
Quoting Trotty
Good luck mate. The H1 chart still doesn't exactly look bearish to me.
I don't know- it may be another aggressive early entry from me, but it's only half a position, and I'll add higher if I can, but I think the 1hr chart shows strength from the bears recently. We have a strong rejection from the double top, and have closed outside the rising channel on the hourly, but not on my 4hr feed yet (one to watch) so I see potential for a good short. On the negatives- yes this still is an uptrend, and we haven't broken the 1hr 62ema yet and the support around it
Attached Image (click to enlarge)
Click to Enlarge Name: cabl1ihr.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,957
  • Mar 21, 2012 5:45am Mar 21, 2012 5:45am
Quoting Trader131
I don't know- it may be another aggressive early entry from me, but it's only half a position, and I'll add higher if I can, but I think the 1hr chart shows strength from the bears recently. We have a strong rejection from the double top, and have closed outside the rising channel on the hourly, but not on my 4hr feed yet (one to watch) so I see potential for a good short. On the negatives- yes this still is an uptrend, and we haven't broken the 1hr 62ema yet and the support around it
Defo a day to be careful with your equity on cable anyway, which ever way you have an entry!
  • #34,958
  • Mar 21, 2012 5:52am Mar 21, 2012 5:52am
Quoting Trotty
Defo a day to be careful with your equity on cable anyway, which ever way you have an entry!
Absolutely- the budget's in less than two hours- I plan on getting out well before then. It could well be a chop suey day! This next 4hr close is important to me- not looking good at the moment.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,959
  • Mar 21, 2012 5:54am Mar 21, 2012 5:54am
Quoting Trader131
Absolutely- the budget's in less than two hours- I plan on getting out well before then. It could well be a chop suey day! This next 4hr close is important to me- not looking good at the moment.
Looks ok at the minute, I have it coming off the back of an intraday tendline right now. I did look at that as a possible setup but am being very picky today on cable
  • #34,960
  • Mar 21, 2012 5:55am Mar 21, 2012 5:55am
In other news, S club 7 have reformed. This is a great day
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