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Attachments: Cable Supply & Demand Intraday
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Cable Supply & Demand Intraday

As we took out asia range low I caught the long a little late average position 1.3743

I would like to see at least pivot or 1.38 today

This daily RBR level is a good strong level imo
PS if anyone drops in on the thread I'd appreciate a comment let me know what I'm doing right and what I'm doing wrong

I'm a relative newbie so I appreciate the feedback
Quoting mysterio
As we took out asia range low I caught the long a little late average position 1.3743 I would like to see at least pivot or 1.38 today This daily RBR level is a good strong level imo
Alright my long went 10 pips up then BE stop hit

The setup was the stop run on the asia range-- however I'd usually wait for the other side of the range to TP, minimum

But I suspect we may go for YL now

No rush, waiting for clarity

Edit- lucky maybe, took the exact same entry on the green m5 demand-- lets see. Stop at BE
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Quoting mysterio
{quote} Alright my long went 10 pips up then BE stop hit The setup was the stop run on the asia range-- however I'd usually wait for the other side of the range to TP, minimum But I suspect we may go for YL now No rush, waiting for clarity Edit- lucky maybe, took the exact same entry on the green m5 demand-- lets see. Stop at BE {image}
I just took 15 pips at asia range high as common place or turnaround

Wait and see for next strong setup

Cautious long bias-- however we are in strong downtrend and bear flag
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We have possible W pattern

So wait and see if we get some bounce in circle area

No rush
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I snuck another + 10 scalping off that 0.5 level

I'm all out and away to eat before NYO
NYO entry on accumulation pattern
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  • Post #228
  • Quote
  • Edited 12:25pm Aug 18, 2021 10:05am | Edited 12:25pm
Finished for the day with decent profit, took last off at DPP

Rising wedge indicating down but no trades this time of day for me

Edit- actually was a very legitimate sell off from DPP- nice 20 pip break down from the wedge, maybe we get a retest at some point
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General thoughts-- I think cable is headed down to the 1.36 area

We have a lot of FUD in markets at the moment which is driving the dollar up

DXY is in a crucial weekly supply zone so take nothing for granted

Daily GU has a nice RBR zone to buy from but it all depends on what the dollar does-- it seems like they want to drive it out of the range so we will check in the price action tomorrow

I am biased towards sells tomorrow at the red zones above
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I wake up to a 50 pip crash over Asia

As I use tight SLs I have to just wait for now for something to arise, I want to sell but patience is the name of the game

1.36 area for buyers
I took a very sneaky scalp off of ADR/S3

One of those reliable setups

Just 10 pips, feels wrong but it works often-- If we retrace down I might buy again
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Potentially double bottoming on ADR

Just scalping a few pips here and there

Maybe found the bottom for the day as equity dip buyers step in-- or may just range in these zones
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  • Post #233
  • Quote
  • Edited 10:40am Aug 19, 2021 10:00am | Edited 10:40am
Quoting mysterio
Potentially double bottoming on ADR Just scalping a few pips here and there Maybe found the bottom for the day as equity dip buyers step in-- or may just range in these zones {image}
Decided just to close out 20 pips

I may buy the retrace leg if this is a W-- OR, maybe just leave it there today

30pips/4xR pips is pretty good for only trading one session, can't complain

Edit-- glad I didn't go for a rebuy it's dropped pretty hard to test the low of the day
I look for a buy in the green demand zone tomorrow, PA dependent of course

Was a 30 pip day which is fine but feel I could have snapped up a few more sells

Ultimately I knew the destination in advance so should have just sold the pullbacks

Just an intraday buy-- dxy threatening to move above weekly supply area so GU ultimately may head quite a bit lower
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Quoting mysterio
I look for a buy in the green demand zone tomorrow, PA dependent of course Was a 30 pip day which is fine but feel I could have snapped up a few more sells Ultimately I knew the destination in advance so should have just sold the pullbacks Just an intraday buy-- dxy threatening to move above weekly supply area so GU ultimately may head quite a bit lower {image}
1. what price action you are looking for? engulf and retrace?
2. how did you know the destination of price?
Quoting genadi
{quote} 1. what price action you are looking for? engulf and retrace? 2. how did you know the destination of price?
check this post: https://www.forexfactory.com/thread/...3#post13673243

Basically sell bias and 1.36 area next h1 demand zone

Obviously didn't know for sure or I would have taken the trade but the FOMC gave clues

For some reason I feel more comfortable with rangeing PA with my methodology (or reversals) when heavily trending like this I find it harder. I only really need 10-20 pips a day though as I use tight SLs

Yes, or TL break
Early buy
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Watch out, today can get messy. When everyone is buying, then market makers are…?

Quoting mysterio
Early buy {image}
Quoting Ilvez
Watch out, today can get messy. When everyone is buying, then market makers are…? {quote}
Yes it looks sketchy

I have an optimal price for now but not taking any chances as they may have a Friday surprise in store, IE pumping out more stops for a decent rise
I believe longs are being built here the MM is just trying to induce sellers to build positions

Trade carefully anything can happen

If this zone breaks I stand back until next week
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