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- supra replied Nov 21, 2011
Ah I see you are referring to the 2.100 TT short. Yes, I would have that 2.0860 as an FTA. But I think it's still a set-up worth taking considering the possible S/L at 2.1050 which will generate at least 2.5R if full exit is taken at 2.0860ish. Not ...
- supra replied Nov 21, 2011
I did this on USD/CAD daily given the daily BUB that closed above the weekly R level, my entry was at 1.0272. I noticed that there was a correlated confluence with EP which was reacting to a weekly R then. So when both charts were stalling and not ...
- supra replied Nov 19, 2011
Are you saying that this is not a valid FTB set up because price had tested the area as resistance previously in early and mid June on the daily? But if you were to look at the weekly, don't you think it's a valid FTB set up? I had the 1.3200 level ...
- supra replied Nov 19, 2011
I caught this one. Good thing is that the market is very generous with good set ups, we just need to ask it to not give them all at once at the same time. Have a good weekend, everyone.
- supra replied Nov 11, 2011
That was really an in-depth analysis incorporating various variables as you said. Most appreciated, LJ. If you have the time, I would be grateful if you could help with a question in my previous post below:
- supra replied Nov 10, 2011
Advice duly noted and heeded, my kind mentor. I was looking back at your first entry on this GBP/USD long trade. Please correct me if I am wrong but I believe it was a TT based on a S/R level and 50% fib confluence as per attached chart. If you ...
- supra replied Nov 9, 2011
The low of the bar you pointed out for the second entry SL is 1.6051, while your SL was 1.6046. Assuming spread of 2 pips, then your allowance is only 3 pips. Is this your normal pips allowance? It never ceases to amaze me how could they be so ...
- supra replied Nov 9, 2011
Yes, please I didn't see this set-up until you mention it, but I had a buy limit on its sibling.
- supra replied Nov 9, 2011
Thank you for your explanations. Indeed it's a strong S/R level, it's just that I'd need a bar confirmation of some sort to take a short there. Am learning hard on how to read the markets like you do. Attached is my monthly chart with possible TP ...
- supra replied Nov 8, 2011
My S/R level was a bit higher, could be that I am too picky with the level ... but it's a more of a case of learning the conviction you had. Would appreciate any pointers here. And when you say the risk/reward is attractive, where did you expect ...
- supra replied Nov 4, 2011
It was from an hourly swing high, please see attached chart.
- supra replied Nov 3, 2011
Missed that... took this one instead with TPs at the grey rectangles.
- supra replied Nov 3, 2011
Yes, I can see the key resistance area but it is the entry trigger that interests me. Let me speculate: you placed a sell limit after the long bearish bar (indicated on below attached chart) was formed in order to get an entry on a retrace. Please ...
- supra replied Nov 2, 2011
Please find attached the USD/CAD & AUD/USD monthly charts. I am pretty certain that you will find that my S/R levels are fewer than yours, but I am really grateful for this opportunity as I will be able to learn how you plot your S/R levels. I ...
- supra replied Nov 2, 2011
If I understood it correctly you were playing USD's strength against the comm-dolls given BOJ's intervention. On the USD/CAD, I can figure out the supporting technical reason but not with the AUD/USD. Thank you for the standard technical TT ...
- supra replied Oct 29, 2011
On this hourly NZD/USD set-up, what made you so sure that it would end up as a H&S instead of a DT? Don't you think it has an equal or perhaps higher chance of forming a DT given that the previous high tested a daily (higher t/f) S/R level? It ...
- supra replied Oct 26, 2011
So would an initial SL slightly above the left shoulder high (see arrow on chart) around 0.8090 be your preference? I love small stops as long as it's a winner but have to admit that sometimes I get cold feet too. So please elaborate what kind of ...
- supra replied Oct 25, 2011
- GBP/USD short: Banked half position at FTA, remaining half stopped out. - NZD/USD short: Missed entry by 6 pips. - USD/CAD long: Missed entry by 5 pips. The truth is that I am not too disappointed with the USD/CAD long as I cancelled the order on ...
- supra replied Oct 24, 2011
I second that, plus two more... On the positive side, the USDX weekly support seems to be holding.
- supra replied Oct 18, 2011
Hi LJ, Would these set-ups qualify as FTBs as per your FTB definition?