Hi
news has given an opportunity maybe
any advice would be nice
Photize
Of course there is a nice round number involved 1.60
news has given an opportunity maybe
any advice would be nice
Photize
Of course there is a nice round number involved 1.60
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DislikedHi ar58, I wouldn't go short on GBPUSD for a number of reasons. {image} {image} 1. Due to the weekend gap, price took out weekly and daily supply which tells me demand is in control. 2. Thanks to this the weekly demand below is now valid, same goes for that daily speedbump just below price. 3. Tomorrow there's MPC and FOMC news coming out, both having a high impact on the GBPUSD. So if you want to go short now, there's not a lot of room to do so, plus the news could kick you out of your trades in a heartbeat.Ignored
DislikedNot sure if anyone is trading Brent but there seem to be short setups on the Daily and H4. {image} {image} And Alfonso, thanks for your encouragement, they mean a lot! I'm still in the process of learning, and when I do achieve consistent success in this I'll not forget that you played a huge part in it with your teachings and corrections.Ignored
Now there is a new H4 supply level that respects the H4 TL. I do have an order there if conditions do not change. Same as Ivan (Myst)
Let's see what happens!
Alfonso
P.S. You don't need to thank me for anything my friend. You are the one learning and pulling the trigger, so the merits are yours!
Disliked{quote} Thanks for your comments, I really appreciate that, it helps me and others to keep on trading SD levels. I've learnt through experience, most of them bad ones, like most traders out there, that once I have risked my 1% on a trade, it's a money lost. Whatever happens is a bonus. Trading is a numbers game. There is nothing worst than can happen to you than having a great entry and be stopped at Breakeven to see your trade dropping like a rock. This is why I am holding, a breakeven hurts me much more than a loss. A loss is assumed at the moment...Ignored
DislikedHi news has given an opportunity maybe any advice would be nice Photize Of course there is a nice round number involved 1.60 {image}Ignored
Disliked{quote} Boby! It's broken now, NOT at the moment of entry it was not broken, it was a valid entry. Read and watch the post on Monday morning please. It's valid. It would have not been valid now because the TL has been broken, but I was triggered on Sunday night, so it was valid. Check the posts and analysis, you will see it's a correct entry. Once I am in the trade, 1% is lost, so whatever happens happens! Think like a robot, behave like a robot! Leave the emotions for your wife/husband and your leisure time! AlfonsoIgnored
Disliked{quote} Hi guys, execuse me for this little silly picture that I've attached but can you check that leopard pattern marked by me on Alfonso's chart? Is it previous valid H4 speedbump supply now taken out by lower H4 demand? {image}Ignored
Disliked{quote} Hy Ivan! I agree with your analysis on Brent, I see the same levels. So I have set an order on that H4 supply you marked on your charts. I did attach mine with the same explanations you made I beleive, only attached H4 chart. There were 2 nice H4 short opportunities on Brent (UKOIL on other brokers) Both H4 supply levels were valid, removing previous low, supply being respected, demand being taken out.Now there is a new H4 supply level that respects the H4 TL. I do have an order there if conditions do not change. Same as Ivan (Myst) Let's...Ignored
Disliked{quote} I'll try and help It was a supply shown by price action, it was not a speed bump as the road did not continue up, As for validation it did not break any previous demand below so not really validated. Photize oh forgot YES !Ignored
Disliked{quote} Alfonso, I see the clear rules that this posible trade will respect. But I wonder if itsn't too low in the curve... Isn't it close there a D1 demand level? Thank for your help. Just trying to understand the whole estrategy, which it seems to me plenty of sense, but still some doubts... ToniIgnored
Disliked{quote} Looking for price to go past that gap as well, I had the TP there because I initially set my TP to a fix RR ratio and then analyze it more in detail to set it correctly. I will manage my SL above new supply areas if formed, else I will not move it. Let's see what happens. The thing about that gap is that it's a D1 demand speedbump, so we need to pay close attention to it. Valid D1 demand speedbump, I do not want to go against that. It will be a nice target for a non-greedy trade I am glad you took that CADJPY short Ivan. It looks like you...Ignored
Disliked{quote} Alfonso, sorry for offtopic! Which software you use for add notes and arrows on your chart? If you use mt4, have you any scripts for do that?Ignored
Disliked{quote} I mentioned it a couple of times throughout the thread, it's Jing, it's free http://www.techsmith.com/download/jing/ AlfonsoIgnored
Disliked{quote} Totally agree with you Photize. But also I think it was too low in the curve. D1 demand zone very close, so it's not allowed to sell there altough this supply level had absorved a demand level. For selling I think you need at least this D1 demand level been removed... Sorry If I'm wrong, but I think that's pretty clear. ToniIgnored
DislikedNow that the low on EURGBP H4 is taken out, the H4 supply zone is valid for a short. However I can't help feeling uneasy about the way it is rounding down with decreasing downward momentum (this would appear as bullish divergence on indicators), this could sometimes spell accumulation. Nevertheless we're still some distance away before the next daily speed bump demand (which could break cuz speed bumps tend to break when counter trend) around 0.832, RR is good, and rules are rules so I believe its a trade worth taking. Comments are welcome please!...Ignored
Disliked{quote} Alfonso, sorry for offtopic! Which software you use for add notes and arrows on your chart? If you use mt4, have you any scripts for do that?Ignored