Trade what you see NOT what you expect | Page 1827 | Forex Factory

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Trade what you see NOT what you expect

  • #36,521
  • Jul 3, 2012 7:43am Jul 3, 2012 7:43am
Quoting Trader131
I take it you're talking about the euro long- No, I took an early entry based on the previous candle not closing below the wick of the pin before it and we were at the previous lows. The inverted hangman was then formed and gave textbook confirmation for a trade, but I was in during the formation of this candle.
thanks for reply. let me analyze myself further what you've said
  • #36,522
  • Jul 3, 2012 7:52am Jul 3, 2012 7:52am
Taking half off +14pips here
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min1st tp.gif Size: 19 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,523
  • Jul 3, 2012 7:58am Jul 3, 2012 7:58am
I also took an Aussie long based on the pinbar through support and daily pivot and an hourly TL I have. No time to put it up whilst trading, but here hereit is now. Taken profit +11pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 26 KB
Click to Enlarge Name: aussie15min1st tp.gif Size: 27 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,524
  • Jul 3, 2012 8:00am Jul 3, 2012 8:00am
Heads up, bullish pins just formed on cable and Aussie 1hr chart
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,525
  • Jul 3, 2012 8:29am Jul 3, 2012 8:29am
just entered my first cable trade in months, she moves damn fast
Attached Image (click to enlarge)
Click to Enlarge Name: gu short.gif Size: 34 KB
  • #36,526
  • Jul 3, 2012 8:44am Jul 3, 2012 8:44am
Steep, although with the 15min trend, you're trading against that 1hr pin that just printed, and you're trading into the 1hr 62ema so get covered quickly- I've just closed another 1/4 of my cable trade +23 pips at the 35/50ma's
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,527
  • Jul 3, 2012 8:53am Jul 3, 2012 8:53am
And taking another 1/4 off my Aussie long at previous highs +17 pips
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min2.gif Size: 26 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,528
  • Jul 3, 2012 8:55am Jul 3, 2012 8:55am
Quoting Trader131
Steep, although with the 15min trend, you're trading against that 1hr pin that just printed, and you're trading into the 1hr 62ema so get covered quickly- I've just closed another 1/4 of my cable trade +23 pips at the 35/50ma's
yeah you're right thanks, i didnt look at the 1hr, big mistake
  • #36,529
  • Jul 3, 2012 11:44am Jul 3, 2012 11:44am
131,

Nice job on the AU and GU trades this morning. I pegged both of those, while they were forming, as well. The only difference is that I only pegged them in my mind but didn't pull the trigger on either of them.

I'm pleased that I identified the setups but still have some mental work to do to trust them and just take the setup when I see it. This may just be a matter of chart time with this method.
  • #36,530
  • Jul 3, 2012 12:22pm Jul 3, 2012 12:22pm
Quoting DharmaTrader
131,

Nice job on the AU and GU trades this morning. I pegged both of those, while they were forming, as well. The only difference is that I only pegged them in my mind but didn't pull the trigger on either of them.

I'm pleased that I identified the setups but still have some mental work to do to trust them and just take the setup when I see it. This may just be a matter of chart time with this method.
Thanks Dharma, good to see we're both singing from the same book! You're right it's just a matter of chart time, which will in turn give you more confidence to pull the trigger. Closing out the last part of my Aussie long +40 pips up here, as we may get a retrace on the 15min now. Cable was naughty and came back and took out my BE SL on the 15min pin through the 1hr 62, but I did reenter on the next candle and grab another 15 full pips with a set and forget TP Aussie chart below
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min2ndtp.gif Size: 26 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,531
  • Jul 3, 2012 6:06pm Jul 3, 2012 6:06pm
to all.........Brother getting his party on right now.

DAMM......you guys are just scooping up the pips.....

THAT'S SWEET.....rinse and repeat!

Same position as yesterday, sitting long.

But I'll go short in a NY minute if she turns.

HOLLA
  • #36,532
  • Jul 4, 2012 1:41am Jul 4, 2012 1:41am
Morning all,

Happy 4th July to all of you over the pond!

It could well be a quiet day today, but we have a big news day tomorrow. No movement for now, we're in tight ranges. Took a cheeky long scalp on cable right at the low of the range with a 5 pip stop (just 0.5 % risk, but as I type taken full profit at +8pips so that 0.8% gain, not bad for 10 mins work! If you can get good entries, you hen have tight SL's and with your R:R it means you can TP early too. Entry and TP below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 16 KB
Click to Enlarge Name: cable15min1st tp.gif Size: 17 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,533
  • Jul 4, 2012 1:49am Jul 4, 2012 1:49am
Quoting Trader131
Morning all,

Happy 4th July to all of you over the pond!

It could well be a quiet day today, but we have a big news day tomorrow. No movement for now, we're in tight ranges. Took a cheeky long scalp on cable right at the low of the range with a 5 pip stop (just 0.5 % risk, but as I type taken full profit at +8pips so that 0.8% gain, not bad for 10 mins work! If you can get good entries, you hen have tight SL's and with your R:R it means you can TP early too. Entry and TP below
trader do you normally enter on candle close or when price touches the Pivot line?
  • #36,534
  • Jul 4, 2012 2:27am Jul 4, 2012 2:27am
Quoting SteeP7
trader do you normally enter on candle close or when price touches the Pivot line?
Both- I think you mean trendline. That last trade wasa ping pong EO trade- just trading the levels- not waiting for PA confirmation as the range was too small. I just wanted to point out how you need to adapt to the type of market (ie tight stops and TP when in a narrow range. A 5 pip sop is a bit extreme, but on that 15min chart worked beautifully, as any break below the lows of 65 would likely be the start of a larger move. As i type the range has broken south, so I've closed my long on cable from Friday +71pips.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,535
  • Jul 4, 2012 3:20am Jul 4, 2012 3:20am
wow cable's fallen through the floor whilst I was PMing. Took a short entry at 57 as we'd broken the range and formed a small doji with a 10 pip stop above the 21 ma and trendline. Taking half off here +17 pips, SL to be now. Entry and TP1 below- it shows you how the ma's move after the entry- it turned into a 5ma touch after the entry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 17 KB
Click to Enlarge Name: cable15min1st tp.gif Size: 18 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,536
  • Jul 4, 2012 3:31am Jul 4, 2012 3:31am
Gone long on Aussie at 67 (slightly late entry) as I have a strong hourly TL there and we've formed a 15min inverted hangman (and a hangman on euraud- so aud likely to be stronger than euro if you follow). Closing the rest of the cable short +17pips, as we've formed a 15min bullish pin as I type and it doesn't make sense to be long Aussie and short cable.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 18 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,537
  • Jul 4, 2012 3:39am Jul 4, 2012 3:39am
Closed half Aussie long at the 21ma + 12 pips
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 18 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,538
  • Jul 4, 2012 3:40am Jul 4, 2012 3:40am
Aussie 1hr chart
Attached Image (click to enlarge)
Click to Enlarge Name: aussie1hr.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,539
  • Jul 4, 2012 3:50am Jul 4, 2012 3:50am
Fast and furious this morning! Taking another quarter off Aussie long at the 50 sma +22pips
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min2ndtp.gif Size: 18 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,540
  • Jul 4, 2012 3:53am Jul 4, 2012 3:53am
Leaving SL at -5 pips- below the TL on the last quarter for Aussie, as we may come back and test it again. If cable keeps this level we'll get a pin on the hourly close in seven minutes
There is no top. There are always further heights to reach. Jascha Heifetz
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