lukx zline trading log + cfabian p.35 + adaseb p.48

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adaseb
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Postby adaseb » Mon Mar 15, 2010 7:14 pm

What made you take that short at the top there?




IN-XS wrote:Good day today, took two trades on GU. First one from the top short and second one at the bottom long. Around 137 pips, now I am waiting for another setup.

Image

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IN-XS
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Postby IN-XS » Mon Mar 15, 2010 7:26 pm

Hi Adaseb, I took that short as it was with the 4H direction, then went down to 15m for entry and my entry was a bit early, usually would enter 1 candle later, but it looked like it would fall when viewing the 4H, so I thought I would take the risk. Luckily it paid off!

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Postby adaseb » Mon Mar 15, 2010 7:49 pm

Yeah this was a confusing trade. The daily was negative however at that time there was H4 long MZ.

Stayed out of that one.

Shorted the bounce instead later at 75, similar to where you sold your position.


IN-XS wrote:Hi Adaseb, I took that short as it was with the 4H direction, then went down to 15m for entry and my entry was a bit early, usually would enter 1 candle later, but it looked like it would fall when viewing the 4H, so I thought I would take the risk. Luckily it paid off!

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dragon33
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Postby dragon33 » Mon Mar 15, 2010 8:23 pm

Image

The white ellipse was the first indication. Price failed to close above the extreme. entered on the second white line. 126 pips.
Did the same on ej and gj good for a total of 346 pips.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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adaseb
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Postby adaseb » Mon Mar 15, 2010 8:40 pm

dragon33 wrote:Image

The white ellipse was the first indication. Price failed to close above the extreme. entered on the second white line. 126 pips.
Did the same on ej and gj good for a total of 346 pips.


Hey I got a few questions about your decisions to short there.

You said your first hint was when it failed to close higher than the extreme of that bearish candle (white ellipse).

Now I am just wondering why you didn't short at the white top line instead of where you actually entered?

Where you waiting for confirmation first?

Thanks in advance.

Image

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Brookmyre
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Postby Brookmyre » Tue Mar 16, 2010 1:50 am

Hi Dragon....I also have a question about your ellipse candle.

I've seen you refer to the failure to close beyond the extreme before as an indicator of whats to come....and I'd like to ask, is it general price action your referring to (ie: multiple candles that fail to close beyond an extreme) or specifically the failure of a breakout candle?

Thanks
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dragon33
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Postby dragon33 » Tue Mar 16, 2010 9:03 am

adaseb wrote:
dragon33 wrote:Image

The white ellipse was the first indication. Price failed to close above the extreme. entered on the second white line. 126 pips.
Did the same on ej and gj good for a total of 346 pips.


Hey I got a few questions about your decisions to short there.

You said your first hint was when it failed to close higher than the extreme of that bearish candle (white ellipse).

Now I am just wondering why you didn't short at the white top line instead of where you actually entered?

Where you waiting for confirmation first?

Thanks in advance.

Image

I always want to see confirmation, i don't have the guts to enter over there because i know nothing while that candle is going.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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dragon33
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Postby dragon33 » Tue Mar 16, 2010 9:07 am

Brookmyre wrote:Hi Dragon....I also have a question about your ellipse candle.

I've seen you refer to the failure to close beyond the extreme before as an indicator of whats to come....and I'd like to ask, is it general price action your referring to (ie: multiple candles that fail to close beyond an extreme) or specifically the failure of a breakout candle?

Thanks


It is just the general priceaction. Failures are important to make your decisions. I know you have to be quick that's also the reason why i ask everyone to handle just one chart.
If you play the bigger frames you can handle more
Trading is like cycling, first you need to learn how.

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IN-XS
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Postby IN-XS » Tue Mar 16, 2010 9:15 am

Morning Dragon I also like a lot of confirmation, but I would have entered on the same candle, but higher up. I see that your entry is almost the same postition as my 50ema. Also you have changed back to 1H overlay, do you prefer that to 45M?

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Postby ***FX-JEDI*** » Tue Mar 16, 2010 9:48 am

dragon33 wrote:Image

The white ellipse was the first indication. Price failed to close above the extreme. entered on the second white line. 126 pips.
Did the same on ej and gj good for a total of 346 pips.


Nice Trading Dragon!!! :D

I put what I see on your chart, is this along you thinking/seeing???

Cheers ***FX-JEDI***
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