Intraday FX Player

[Willleung]

looking at the morning chart again..

if exit due to divergence, would miss da last leg..

 

[BigFunky]

Quote from Willleung:


wake up today, having an expectation, looking for a reversal, instead continuation signals. Sometime making $ is not about finding a new form trend, but rather not letting the index run away from ya?

I know what you mean. Sometimes you can spend all day waiting for the trend to reverse so then you can finally trade it, and it just never happens. Then at the end of the day you look back and see how much could have been made simply by jumping on board the trend for the day.

It seems in some ways to be based on a mindset that the 'market' must be smarter than that - it's always trying to outsmart you, so it can't be that obvious. But of course, the obvious answer is often obvious because it is the correct one!

 

[Willleung]

Quote from BigFunky:

I know what you mean. Sometimes you can spend all day waiting for the trend to reverse so then you can finally trade it, and it just never happens. Then at the end of the day you look back and see how much could have been made simply by jumping on board the trend for the day.

It seems in some ways to be based on a mindset that the 'market' must be smarter than that - it's always trying to outsmart you, so it can't be that obvious. But of course, the obvious answer is often obvious because it is the correct one!

oh yeah, thanks for that Funky..

 

[Willleung]

to keep the spirit up

 

[Banjo]

Very uplifting Will. This FX is turning out to be good stuff, being able to trade something at any hr is great. I'm in Rio, it's 2 am and just finished dinner. Staying with some musicians I worked with back in the day. Kudos to yoohoo for laying down some clean tracks for you guys. Nice work. I left some eur/usd longs on from 5400, will let them stop out if it happens.

 

[yoohoo]

Willl, just a note on your signals to the right on your chart.

The 1st is Continuation OR Reverse depending on which way it breaks. Look left and see the double bottom... so we have resistance here and need to get all the help we can to break thru.

Note the MACD gave a divergence for a strong up move so I'd expect continuation.

When PA gets to the next Continuation OR Reversal signal it didn't close below the prior low so you'd still be long AND the MACD is really wide indicating strength - this still has legs so when it was pulling back I'd expect more upside.

So there was no PA reversal signal confirmation and MACD was telling you to expect more... you should have held long until the Doji at the Bol Band.

 

[yoohoo]

Quote from Banjo:

Very uplifting Will. This FX is turning out to be good stuff, being able to trade something at any hr is great. I'm in Rio, it's 2 am and just finished dinner. Staying with some musicians I worked with back in the day. Kudos to yoohoo for laying down some clean tracks for you guys. Nice work. I left some eur/usd longs on from 5400, will let them stop out if it happens.

Kind words, thanks Banjo.

 

[Willleung]

Quote from yoohoo:

Willl, just a note on your signals to the right on your chart.

The 1st is Continuation OR Reverse depending on which way it breaks. Look left and see the double bottom... so we have resistance here and need to get all the help we can to break thru.

Note the MACD gave a divergence for a strong up move so I'd expect continuation.

When PA gets to the next Continuation OR Reversal signal it didn't close below the prior low so you'd still be long AND the MACD is really wide indicating strength - this still has legs so when it was pulling back I'd expect more upside.

So there was no PA reversal signal confirmation and MACD was telling you to expect more... you should have held long until the Doji at the Bol Band.

thanks a lot YH, didn't trade that one, but the one before..

 

[Willleung]

Quote from yoohoo:

So there was no PA reversal signal confirmation and MACD was telling you to expect more... you should have held long until the Doji at the Bol Band.

hi YH,

that's was for the exit of the morning 1-2-3 continuation short trade, as PA finally takes out a minor high for exit.

Got what you mean, wouldn't be an exit if we reversal on point B (the 2B) on the last chart..

 

[Willleung]

hi YH,

From pervious post, you meant Doji a lot, what's your take on that? and you look for Morning/Evening Doji Stars as pattern also?