Why cant i find Long setups? | Forex Factory

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Why cant i find Long setups?

  • #1
  • First Post: Dec 23, 2009 2:01pm Dec 23, 2009 2:01pm
I can Spot short setups like no bodies business in real time but the long setups always look tricky. I noticed that if i look upside down and read the bars backwards they look much clearer (they look like short setups). Looking at the screen upside down isnt very effective. I had an idea that human mind is more biased to think of charting as like gravity pulling the price down and that traders push price up.

More importantly does any one else have any suggestions or thought on the idea? I dont mind shorting i just would like to take advantage of the whole spectrum. Thanks ahead of time.

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  • #2
  • Dec 23, 2009 2:40pm Dec 23, 2009 2:40pm
Going short in a consistent down trend makes more sense than going long.

It's called swimming with the tide and trying to swim against the tide really shouldn't cause you any concern.

If you put MAs on your chart (and I can see that you do) you do it to tell you which way to trade.

Start thinking about going long when all your MAs in all your TFs are pointing up. If you're going to ignore your indicators then you might as well take them off your charts.
  • #3
  • Dec 23, 2009 2:51pm Dec 23, 2009 2:51pm
Oh yeah definatly. I understand what your saying and agree that was the usd/cad which i traded today sucessfully all shorts. I was looking at the Eur/USD i couldnt "pinpoint" when the buyer took control of the pull backs I trade 15 min TF, but i had to drop my frame size to 5 to see pullbacks.

I know to never trade against the trend, Unless the trend has been broken and tested at a very minimum. i dont know why the buys dont look as logical to me. (Not in the CAD but the EUR today)
  • #4
  • Dec 23, 2009 3:00pm Dec 23, 2009 3:00pm
I kinda know what you're meaning. I also find it more intuitive spotting bearish head and shoulder patterns than bullish ones for example. Must be the mind playing tricks
The nail that sticks out gets hammered back in
  • #5
  • Dec 23, 2009 11:38pm Dec 23, 2009 11:38pm
Quoting Fuzzyzc
I trade 15 min TF, but i had to drop my frame size to 5 to see pullbacks.
If you're looking to stay in a trade for more then a few minutes you might want to use the hour chart to give you a higher level view of trends. I'm not saying to trade the H1, but have it up and use it as a filter. Depending on how long you like to stay in, the D1 chart may be helpful for the same reason.

I trade the minute chart but find that referencing the 15 min. has keept me out of bad trades which otherwise looked perfect on the 1 minute. Conversely, doing this can help confirm that what your seeing on the lower charts, giving you more confidence when you pull the trigger.

Try it in a demo or with small trades to see if this would work for you too.
  • #6
  • Dec 24, 2009 4:50am Dec 24, 2009 4:50am
Quoting imolaavant
If you're looking to stay in a trade for more then a few minutes you might want to use the hour chart to give you a higher level view of trends. I'm not saying to trade the H1, but have it up and use it as a filter. Depending on how long you like to stay in, the D1 chart may be helpful for the same reason.

I trade the minute chart but find that referencing the 15 min. has keept me out of bad trades which otherwise looked perfect on the 1 minute. Conversely, doing this can help confirm that what your seeing on the lower charts, giving you more...
This is a good idea....I personally use the 4hour and daily charts to get on the right of the trend.
  • #7
  • Dec 25, 2009 9:26pm Dec 25, 2009 9:26pm
Thanks guys for all the input.
  • #8
  • Dec 29, 2009 5:48pm Dec 29, 2009 5:48pm
You're not the only one feeling funny about a direction, however as I read somewhere most traders don't like shorting, for some reason.

You can be a good bull / bear trader, favoring longs or shorts, that's no problem. Or you could find correlated pairs - eg. a short EURUSD is a long USDCHF, same applies for EURGBP/GBPCHF. If you find a short on EU you might look for a long on UC.

But you don't have to force yourself into something that isn't comfortable.
forget about tomorrow, just steal away into the night
  • #9
  • Dec 29, 2009 6:25pm Dec 29, 2009 6:25pm
Quoting Fuzzyzc
I can Spot short setups like no bodies business in real time but the long setups always look tricky. I noticed that if i look upside down and read the bars backwards they look much clearer (they look like short setups)....
Assuming from your post that this is only a visual perception issue for you then instead of looking at them upside down you can use an indicator that inverts the pair. I know that I have used (in the past) an indicator that plotted EURJPY as JPYEUR as an example. I am sorry but I cannot think of the name of the indicator at this time and if it was on FF or TSD.

That would take care of the perception problem for you.
  • #10
  • Dec 29, 2009 6:45pm Dec 29, 2009 6:45pm
yeah it is a visual perception problem. Im getting better though i have been practicing looking at inverted pairs.
  • #11
  • Dec 29, 2009 6:53pm Dec 29, 2009 6:53pm
Quoting Fuzzyzc
Thanks guys for all the input.
Fuz

There is a statement "bulls make money/ bears make money/ but pigs get slaughtered." Your right to not want to short what you are seeing, that is the right side of the brain telling you its not a smart idea.. We as humans use about 10% of our brains or something like that... the other 90% is working and doing something but we dont know what... my advice would be if you have an uneasy feeling about going short dont do it. That gravity feeling is your mind telling you to not buy into the B.S. and now is a perfect time for that if you short these your fighting fundamentals, the interest rates, the long term trend for what a compressed short lived low probability trade because your main conscience wants to say "ha i got that right." Don't be a pig be a bull or a bear but never a pig. If your worried about not being able to find a long zoom out to the daily timeframe and see where your at... your in a long term uptrend with a short retracement only with fundamentals at your back and interest rate payments... just be patient and wait for your trade.. good job.
  • #12
  • Dec 30, 2009 2:39am Dec 30, 2009 2:39am
Yeah search for MT4 indicators here on FF:
SecondChart
OverlayChart
OverlayChartLine

These will plot the chart inverted if you like.

Quoting flyer415
Assuming from your post that this is only a visual perception issue for you then instead of looking at them upside down you can use an indicator that inverts the pair. I know that I have used (in the past) an indicator that plotted EURJPY as JPYEUR as an example. I am sorry but I cannot think of the name of the indicator at this time and if it was on FF or TSD.

That would take care of the perception problem for you.
forget about tomorrow, just steal away into the night
  • #13
  • Feb 25, 2013 12:31pm Feb 25, 2013 12:31pm
Quoting Fuzzyzc
I can Spot short setups like no bodies business in real time but the long setups always look tricky. I noticed that if i look upside down and read the bars backwards they look much clearer (they look like short setups). Looking at the screen upside down isnt very effective. I had an idea that human mind is more biased to think of charting as like gravity pulling the price down and that traders push price up.

More importantly does any one else have any suggestions or thought on the idea? I dont mind shorting i just would like to take advantage...
You are what they call a BEAR! haha! Just embrace it, nothing wrong with being a short specialist!
  • #14
  • Last Post: Feb 27, 2013 2:36am Feb 27, 2013 2:36am
When I first started, I also felt somewhat like a "natural born seller", selling-opportunities were just more obvious, I'd read something about how newbies like shorting & which often leads to their downfall, which is why they are adviced to only trade long, don't remember the specifics.........but now I look at my trades & even over a short sample-size, like a month, my total number of trades will pretty much be equally distributed between shorts & longs.......my bias wasn't that strong & I was always willing to take trades in both directions & now, I don't even think about such stuff anymore......

What you could perhaps try & do is to open a demo or live cent-account, depending on your preference, & then use this account to ONLY TRADE LONG, just regularly go through your preferred pairs & only look for long setups & trade them on this account......it will get you looking for longs.......

Another thing you can do is, on weekends, just go through previous bullish-setups that occurred during the week on various pairs on your preferred TFs, push the chart to the right & try to move it candle-by-candle to see how it unfolds & how & where you might have been able to get in, then test it on the demo & then after a while see if your trading-performance is on par with your regular performance, keep looking for ways to modify & improve until you are satisfied with how you feel about long-setups.........
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