Trade what you see NOT what you expect | Page 1797 | Forex Factory

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Trade what you see NOT what you expect

  • #35,921
  • Jun 4, 2012 1:29pm Jun 4, 2012 1:29pm
Just taken my first trade today, I wasn't expecting much movement with London closed, but just looking at the move today, I waited for a retrace on Aussie to the 1hr 62 and 50 ma's, then when there was a green doji through the 50 sma, I entered long at 0.9700. Went off and had a family roast, and have just come back and closed half for +27 (bottom picture) SL to BE now
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 23 KB
Click to Enlarge Name: aussie 15min1sttp.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,922
  • Jun 4, 2012 3:51pm Jun 4, 2012 3:51pm
Quoting Trader131
Just taken my first trade today, I wasn't expecting much movement with London closed, but just looking at the move today, I waited for a retrace on Aussie to the 1hr 62 and 50 ma's, then when there was a green doji through the 50 sma, I entered long at 0.9700. Went off and had a family roast, and have just come back and closed half for +27 (bottom picture) SL to BE now
Very nice i was watching this one, i should have jumped on it too
  • #35,923
  • Jun 5, 2012 2:03am Jun 5, 2012 2:03am
Morning all,

Yes, that rate decision helped me out overnight too! I've just added back in again here at 76, buying in the wick of that last pin.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 25 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,924
  • Jun 5, 2012 2:05am Jun 5, 2012 2:05am
Tight 10 pip stop on that last entry, and moved my stop on yesterday's entry to +33
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,925
  • Jun 5, 2012 2:21am Jun 5, 2012 2:21am
And stopped. I was watching the candles,a dn it was pushed down in the last minute of that last candle close from being a pin to a bearish engulfing. Should have got out then, no point fighting with the big boys, but well it's only 10 pips. Still long from 0.97000 and also still long on cable from that Friday trade, but it's getting closer to my stop (+20)
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,926
  • Jun 5, 2012 3:02am Jun 5, 2012 3:02am
Stopped out +20 on cable, trying another long on Aussie here at 55 after that pin(ish)closing above the 15min 50ma's, giving it more breathing room- SL with yesterday's trade at 9733
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 27 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,927
  • Jun 5, 2012 3:06am Jun 5, 2012 3:06am
Covering 1/2 +15 here at resistance
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 27 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,928
  • Jun 5, 2012 3:08am Jun 5, 2012 3:08am
Sl to -11 so net positive if stopped out, and off for breakfast
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,929
  • Jun 5, 2012 3:28am Jun 5, 2012 3:28am
Got long eu. Hope you had a good bank holiday 131.
  • #35,930
  • Jun 5, 2012 3:44am Jun 5, 2012 3:44am
Took a beautiful short off the 1 hour 62 on cable, she is at +70 and still going

Why the frown? Because I bailed at +5, and took a losing long and ended at -30. Is ok though, caught the 5ma bounce, covered green, +20 as we speak.

Edit: BTW the long was not a very smart trade, looked good at the time, but looking back at it it really was not much of a signal. Bounce of 35/50, but price had been bouncing along near this area for a while, this is the second time I have taken this trade and lost. Seems like I would have learned after the first time.
  • #35,931
  • Jun 5, 2012 3:51am Jun 5, 2012 3:51am
Quoting lazyboy
Got long eu. Hope you had a good bank holiday 131.
Morning Lazyboy, yes, bank holiday was good, thanks- I managed to avoid most of the jubilee celebrations... I'm off to London tomorrow for a few days- taking the boys to the science and natural history museums and other stuff. It's weird to visit London as a tourist, having lived there for years!

Stopped out of all my longs now, and see I got out of that last Aussie long by the skin of my teeth. Good luck with the Euro long- 12 15 min bearish candles in succession bar one small green pin- definite change of sentiment, but momentum slowing now
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,932
  • Jun 5, 2012 4:06am Jun 5, 2012 4:06am
Quoting rgrace
Took a beautiful short off the 1 hour 62 on cable, she is at +70 and still going

Why the frown? Because I bailed at +5, and took a losing long and ended at -30. Is ok though, caught the 5ma bounce, covered green, +20 as we speak.

Edit: BTW the long was not a very smart trade, looked good at the time, but looking back at it it really was not much of a signal. Bounce of 35/50, but price had been bouncing along near this area for a while, this is the second time I have taken this trade and lost. Seems like I would have learned after the first...
rgrace, I think I understand where your trades were. If I may, I'd like to point out my thoughts on those entries. The 1hr62ema short was great and even better in hindsight! Price was constrained (a term used in the Dance thread) by the ma, and then fell (shame you bailed out!). The 35/50 bounce that you took was flaky as these 15min ma's had been flat for some time as cable was ranging- fine to take a long as a bottom of the range play (538X), but if I were doing that, my SL would have been much tighter as a breakout would be pretty obvious. Hope that helps
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,933
  • Jun 5, 2012 4:13am Jun 5, 2012 4:13am
Quoting Trader131
rgrace, I think I understand where your trades were. If I may, I'd like to point out my thoughts on those entries. The 1hr62ema short was great and even better in hindsight! Price was constrained (a term used in the Dance thread) by the ma, and then fell (shame you bailed out!). The 35/50 bounce that you took was flaky as these 15min ma's had been flat for some time as cable was ranging- fine to take a long as a bottom of the range play (538X), but if I were doing that, my SL would have been much tighter as a breakout would be pretty obvious. Hope...

I am aware of the stupidity of the second trade, Not sure why I jumped in, anyway, this is the second time I have done that. Guess I always want to be in a trade, need some self control.. If I had of stayed in the short I never would have even considered going long, price closed a couple pips past the 35/50 and I got scared and bailed and went the other way. Lesson learned I hope, hold the freaking trades till pa tells me otherwise, and do not take the 35/50 trade off flat bunched up ma's.

Without mistakes I will never learn, hopefully this one hurt enough to teach me a lesson .

Thanks for the reply, I reentered the short on a 5 oclock somewhere bounce, is up a bit already and covered green, hoping to close the day with no loss.
  • #35,934
  • Jun 5, 2012 4:28am Jun 5, 2012 4:28am
Yes, well done on the 5ma bounce- it's good to be able to admit you were wrong and change direction on a trade. And wanting to be in the market all the time- that's perfectly normal- I still struggle with that one from time to time. Getting punished by the markets helps sort that one out! So you mean it was a 35/50 cross and reverse- not a touch trade bounce? Even so, it still wasn't great for the same reasons- the 15min was ranging. Those trades are best after a big move in one direction, and then a retrace that crosses the 35sma/50ema with a long candle with little or no wick (effectively an overshoot on the retrace)
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,935
  • Jun 5, 2012 4:31am Jun 5, 2012 4:31am
Quoting Trader131
Yes, well done on the 5ma bounce- it's good to be able to admit you were wrong and change direction on a trade. And wanting to be in the market all the time- that's perfectly normal- I still struggle with that one from time to time. Getting punished by the markets helps sort that one out! So you mean it was a 35/50 cross and reverse- not a touch trade bounce? Even so, it still wasn't great for the same reasons- the 15min was ranging. Those trades are best after a big move in one direction, and then a retrace that crosses the 35sma/50ema with one...
Yes it was a cross and reverse, it crossed by a few pips had a small wick. Would have been a decent trade if the conditions were different
  • #35,936
  • Jun 5, 2012 5:05am Jun 5, 2012 5:05am
long on euro after that hourly close DBLHC/tweezers- long on Aussie too above 1hr 62/weekly pivot
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,937
  • Jun 5, 2012 5:16am Jun 5, 2012 5:16am
Screenshots of entries
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur1hr.gif Size: 23 KB
Click to Enlarge Name: aussie1hr.gif Size: 26 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,938
  • Jun 5, 2012 5:26am Jun 5, 2012 5:26am
Covering 1/2 Aussie +13 at 15min 10ma. 15min chart below
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 15min1sttp.gif Size: 27 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,939
  • Jun 5, 2012 5:29am Jun 5, 2012 5:29am
Cutting half Euro +7 here as 15min struggling to break 200ma/10ma
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,940
  • Jun 5, 2012 5:32am Jun 5, 2012 5:32am
SL on Eurusd tightened to -4 (2423) and Aussie to -9 (9716)
There is no top. There are always further heights to reach. Jascha Heifetz
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