PS pity you won't be posting some of your lower timeframe trades anymore. They were very educational. Hope you reconsider!
Huk
Huk
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DislikedMark I was wondering if this was a valid FB set up on NZD/U in your opinion (which has just played out and was a loss). Break of H1 SR (admittedly not overly concise) into overlying supply (admittedly not that well-defined). Reasonably strong rejection and close back below the SR. There is momentum into the breakout but after the initial rejection (potential supply consumption) the second two-bar rejection convinced me price was struggling to go higher and it was worth a short trade. As you can see, it didn't work out but was it a poor-odds setup...Ignored
1 and 3 meet all of these attributes, whereas:
Thus for those three there is too much uncertainty as to whether the rejection is just demand consumption paving the way for a move lower or a sign of true rejection and a move higher. In fact for 4 and 5 you can say that price is more likely to move lower than higher after those FB's form.
Although the NZDUSD H1 FB wasn't as clear cut as those three above, it still looks too impulsive versus the rejection strength behind the FB - there is enough uncertainty there to pass on the setup for me.
You have to be careful with FB's, not getting sucked into FB's that don't fully meet the attributes above.
DislikedPS pity you won't be posting some of your lower timeframe trades anymore. They were very educational. Hope you reconsider! HukIgnored
Disliked{quote} It's actually one that was discussed with members earlier - it's too impulsive a move - there is just too high a chance of the rejection being supply consumption than true rejection. The FLS would have been that SR you've marked on the M15 chart too - we can't hope price will get over clear hurdles we have to let the PA tell us whether we expect this to happen and in this case a) the FB was not a good one and b) there was little space. Below is a chart I shared earlier of H4 USDJPY to compare good versus poor FB setups. 1 and 3 are the ones...Ignored
Disliked{quote} It's actually one that was discussed with members earlier - it's too impulsive a move - there is just too high a chance of the rejection being supply consumption than true rejection. The FLS would have been that SR you've marked on the M15 chart too - we can't hope price will get over clear hurdles we have to let the PA tell us whether we expect this to happen and in this case a) the FB was not a good one and b) there was little space. Below is a chart I shared earlier of H4 USDJPY to compare good versus poor FB setups. 1 and 3 are the ones...Ignored
QuoteDislikedYou've said on this thread that you no longer think in terms of "R" on the VLTF: is this because you're using a set SL distance and fixed lot size? Do you vary the SL distance and adjust lot size depending on the set up: if so, is that done on the fly?
QuoteDislikedAre you entering these trades at market (perhaps using an MT4 script to drop on the chart or something similar) or are you using limit orders for retraces and perhaps even stop orders for BO trades with predetermined SL/lot size?
QuoteDislikedI know you follow U/J and E/U....any others? If you also follow other pairs from time to time, how do you determine which pair(s) will be on your radar in a given trading session? Do you follow them all at the same time or do you find E/U is more a morning pair and then you switch your focus to U/J in the afternoon, for instance?
QuoteDislikedIn your experience what are the best hours for trading the VLTF charts?
QuoteDislikedI still struggle/am trying to work out a good routine to my day (my employment was terminated a couple of months ago so I have time to push my trading forward). Would appreciate any tips you have in that regards (I realise that's a wide topic). Thanks Huk
Disliked{quote} This is an excellent post, as is all the material on your website - thank you for sharing!Ignored
DislikedMark how about this FB on daily ? It is a clear material rejection bar from a swing high in a sideways market. However I propably determined bad target as it turned against me. Could you please comment my charts? My biggest issue always with that FB´s is to recognize FLR/FLR. Thank you {image} {image} {image}Ignored
Chart 2:
Combine this with the actual FB itself (small FB combined with strong move into the break) and it's not a good setup.
Chart 3:
Disliked{quote} The FB is fine, but picking the target is not the easiest as it's a messy area. I'd be marking the daily area of interest for the FLS as per the charts below, it should be pretty clear that what we're looking for as a target is the source of demand that lead to the move above the highs, this is clear on H4. However, I'd much rather have traded NU over NCAD - much easier to spot the target. {image} {image} {image}Ignored
Disliked{quote} Thanks Mark, makes sense. I wanted to take that NZDUSD but price gapped down. How do you recognize if the SD zone is strong and it is our FLR/FLS? Do you have any criteria ? For example recent FB which you showed here, how did you know that the flip marked on chart below is not important ? Thank you for your explanation {image}Ignored