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  • #4,161
  • Jul 3, 2017 8:32pm Jul 3, 2017 8:32pm
Quoting Akt
{quote} Hello tseann thank you for sharing your charts. Some thoughts to consider on the Euro best wishes{image}{image}
Good morning sir,

Thank you for your feedback.

For the momentum trendline I had on EURUSD Monthly wasn't valid as that one you circled is not a lower low? Is that that you mean? If it's a yes, I got it.
So we can consider that price has broken the momentum trendline you drew? Is that correct?

As for Weekly chart, I can see that you've the 2 demand zones and a supply zone that I don't have on my chart.
I'm still watching your webinar but I can spot that this EURUSD Weekly is kinda similar with AUDUSD Weekly right?

Best regards.
  • #4,162
  • Jul 3, 2017 8:35pm Jul 3, 2017 8:35pm
Quoting tseannn
{quote} Good morning sir, Thank you for your feedback. For the momentum trendline I had on EURUSD Monthly wasn't valid as that one you circled is not a lower low? Is that that you mean? If it's a yes, I got it. So we can consider that price has broken the momentum trendline you drew? Is that correct? As for Weekly chart, I can see that you've the 2 demand zones and a supply zone that I don't have on my chart. I'm still watching your webinar but I can spot that this EURUSD Weekly is kinda similar with AUDUSD Weekly right? Best regards.
hello tseannn

Correct.
Both the Euro and the Aussie have been very sideways for a couple of years now.
Both are now trying to decide on direction

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #4,163
  • Edited Jul 4, 2017 12:06am Jul 3, 2017 8:38pm | Edited Jul 4, 2017 12:06am
Quoting Akt
{quote} hello tseannn Correct. Both the Euro and the Aussie have been very sideways for a couple of years now. Both are now trying to decide on direction best wishes
Alright, now I understand. Those pairs that I've shared are those I have analysed. Should I analyse more or just keep it in a few pairs?
By the way, were the other pairs alright?
Also, is gap of price a zone? :/
  • #4,164
  • Jul 3, 2017 9:17pm Jul 3, 2017 9:17pm
Hello Akt/Everyone and good day,

Here is a trade idea for USDJPY but I am having some dilemma on it. Setup seems ok for me, but my dilemma is on my execution TF (H1). As you can see, I am looking for a confirmed entries on H1. It happened on the H1 on which the momentum TL had broken. However, the newly created zone in H1 is short of 2:1 criteria and there is still an underlying DZ below it. My question here is, which one should take precedence as my basis for a confirmation entry ?

1) The H1 momentum TL
2) Zones
3) Both

Any advice ? Thanks

Daily
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY-07042017-Daily.png Size: 132 KB


H4
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY-07042017-H4.png Size: 143 KB


H1
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY-07042017-H1.png Size: 192 KB
  • #4,165
  • Jul 4, 2017 12:44am Jul 4, 2017 12:44am
Quoting tseannn
{quote} Alright, now I understand. Those pairs that I've shared are those I have analysed. Should I analyse more or just keep it in a few pairs? By the way, were the other pairs alright? Also, is gap of price a zone? :/
Hello tseann.
Will take a look at some of them later today please, kinda strapped for time a bit.

When learning, you want as much screen time as possible, analysing every chart you can lay your hands on, from stocks to futures to forex, as much as you can. Save them and then go back to see what happened

A gap speaks of an imbalance in prices but in itself is not a zone. Look a little lower below the gap

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #4,166
  • Jul 4, 2017 1:07am Jul 4, 2017 1:07am
Quoting Akt
{quote} Hello tseann. Will take a look at some of them later today please, kinda strapped for time a bit. When learning, you want as much screen time as possible, analysing every chart you can lay your hands on, from stocks to futures to forex, as much as you can. Save them and then go back to see what happened A gap speaks of an imbalance in prices but in itself is not a zone. Look a little lower below the gap best wishes
Alright, thank you very much sir!
  • #4,167
  • Jul 4, 2017 5:58am Jul 4, 2017 5:58am
Quoting Akt
Hello everyone GBPUSD. Before and after. Planned out yesterday with the fellas best wishes{image}{image}{image}
Dear AKT,

I cannot understand the reason of selling. What I see is upside TL was not broken at the time the order opened, so I thought there was not opportunity to sell. Could you clarify the reason please?

Would be glad to hear your answer.

Best regards
  • #4,168
  • Jul 4, 2017 6:39am Jul 4, 2017 6:39am
Quoting fuadj
{quote} Dear AKT, I cannot understand the reason of selling. What I see is upside TL was not broken at the time the order opened, so I thought there was not opportunity to sell. Could you clarify the reason please? Would be glad to hear your answer. Best regards
If i'm right , aggressive TL is broken. Created supply.
The only person you are destined to become is the person you decide to be.
  • #4,169
  • Jul 4, 2017 6:54am Jul 4, 2017 6:54am
Dear traders,

I missed AUDJPY short by 8 pips. I think I know the reason. As you can see on my entry time frame I have level on top of level. I took the one zone higher and by the rules it was not a supply zone. If I had the order in right place I would had an entry.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY short (missed).png Size: 83 KB

Attached Image


Best wishes.
  • #4,170
  • Jul 4, 2017 7:18am Jul 4, 2017 7:18am
Quoting Nojak
Dear traders, I missed AUDJPY short by 8 pips. I think I know the reason. As you can see on my entry time frame I have level on top of level. I took the one zone higher and by the rules it was not a supply zone. If I had the order in right place I would had an entry. {image} {image} Best wishes.
Hello Nojak,

Just a question. Were you waiting for a confirmed entry or a break on a momentum TL before placing a sell limit order ? Or you just placed aggressively/no confirmation considering the price is on a fresh weekly supply zone ?

Thanks,
  • #4,171
  • Jul 4, 2017 7:18am Jul 4, 2017 7:18am
Quoting fuadj
{quote} Dear AKT, I cannot understand the reason of selling. What I see is upside TL was not broken at the time the order opened, so I thought there was not opportunity to sell. Could you clarify the reason please? Would be glad to hear your answer. Best regards
Dear fuadj,

I posted my comment in picture why I did not place set and forget order and I could be at PC for confirmation trade. That is why I missed this opportunity. I think the main reason why they took short position was:
1. Weekly bullish momentum was broken and price was in tested supply zone.
2. Daily chart showed good profit margin, supply zone was nested inside weekly supply zone and price arrival to zone was good.
3. H4 price was over extended, what was telling about possibility for change in price direction. Good supply zone was formed in daily and weekly supply zones by breaking bullish momentum and poor demand zone (RBR).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD (missed).png Size: 100 KB

So taking all that in record - confirmation entry for short position. Well this was my analysis. Hope it helped.

Best wishes.
  • #4,172
  • Jul 4, 2017 7:34am Jul 4, 2017 7:34am
Quoting pivotdoji
{quote} Hello Nojak, Just a question. Were you waiting for a confirmed entry or a break on a momentum TL before placing a sell limit order ? Or you just placed aggressively/no confirmation considering the price is on a fresh weekly supply zone ? Thanks,
Dear pivotdoji,

Because I had fresh weekly supply zone I would look for fresh daily zone nested inside weekly supply zone. And after that look entry inside that daily zone. If I had everything what I was looking for, I would place set and forget order.
Hope this helped.

Best wishes.
  • #4,173
  • Jul 4, 2017 8:12am Jul 4, 2017 8:12am
Quoting Nojak
{quote} Dear pivotdoji, Because I had fresh weekly supply zone I would look for fresh daily zone nested inside weekly supply zone. And after that look entry inside that daily zone. If I had everything what I was looking for, I would place set and forget order. Hope this helped. Best wishes.
Dear pivotdoji,

Here is similar set up what is activated on USD/JPY. I hope that could help you out.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY short.png Size: 81 KB

Best wishes.
  • #4,174
  • Jul 4, 2017 8:40am Jul 4, 2017 8:40am
Quoting Nojak
Dear traders, I missed AUDJPY short by 8 pips. I think I know the reason. As you can see on my entry time frame I have level on top of level. I took the one zone higher and by the rules it was not a supply zone. If I had the order in right place I would had an entry. {image} {image} Best wishes.

Hi Nojak, I can sympathize with you on that trade.
But I guess there was no(or very less) chance of getting that trade filled on the H4
I know the H4 supplyzone was higher at around (86.970 - 87.102)
While Daily supplyzone was lower at around (86.735 - 87.226)

Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 190 KB


As you can see from the chart.. you'd not would have got filled had you taken the H4 supply.

Pls correct me if i am wrong
  • #4,175
  • Jul 4, 2017 8:57am Jul 4, 2017 8:57am
Quoting Nojak
{quote} Dear pivotdoji, Because I had fresh weekly supply zone I would look for fresh daily zone nested inside weekly supply zone. And after that look entry inside that daily zone. If I had everything what I was looking for, I would place set and forget order. Hope this helped. Best wishes.
I see, I got your point on this thanks And when you do a confirmation entry, it seems you are doing only this when a zone was already tested. But isn't this considered already as "un-fresh" zone and we should already be looking for a fresh level instead of using that "un-fresh" level ?
  • #4,176
  • Jul 4, 2017 9:02am Jul 4, 2017 9:02am
Quoting vickybha
{quote} Hi Nojak, I can sympathize with you on that trade. But I guess there was no(or very less) chance of getting that trade filled on the H4 I know the H4 supplyzone was higher at around (86.970 - 87.102) While Daily supplyzone was lower at around (86.735 - 87.226) {image} As you can see from the chart.. you'd not would have got filled had you taken the H4 supply. Pls correct me if i am wrong
Dear vickybha,

I know the location on H4 zone and I took it for a reason, because I think that you have a higher chance to change price direction nearer to the margin of the move, in case, if price would go higher. It is possible to miss the trade, but more odds to change price direction in wanted direction, if price continues to go deeper in zone and bigger profit possibilities.
Thank you for your comment!

Best wishes.
  • #4,177
  • Jul 4, 2017 9:05am Jul 4, 2017 9:05am
Quoting pivotdoji
{quote} I see, I got your point on this thanks And when you do a confirmation entry, it seems you are doing only this when a zone was already tested. But isn't this considered already as "un-fresh" zone and we should already be looking for a fresh level instead of using that "un-fresh" level ?
When I placed order all zones were fresh. Maybe you could point out what made zone unfresh.

Best wishes.
  • #4,178
  • Jul 4, 2017 9:05am Jul 4, 2017 9:05am
Quoting Nojak
{quote} Dear fuadj, I posted my comment in picture why I did not place set and forget order and I could be at PC for confirmation trade. That is why I missed this opportunity. I think the main reason why they took short position was: 1. Weekly bullish momentum was broken and price was in tested supply zone. 2. Daily chart showed good profit margin, supply zone was nested inside weekly supply zone and price arrival to zone was good. 3. H4 price was over extended, what was telling about possibility for change in price direction. Good supply zone was...
Thank you Nojak for patience and will to help! Very clear explanation.

I would like to ask another question if I may. I never had clear understanding of "over extention" term. Could you explain that please? How to define price over extention?
  • #4,179
  • Jul 4, 2017 10:46am Jul 4, 2017 10:46am
Quoting Nojak
{quote} When I placed order all zones were fresh. Maybe you could point out what made zone unfresh. Best wishes.
I was referring on your response to fuadj (post #4171) regarding on your GBPUSD chart You've mentioned there that SZ was tested 3 times so you will be doing a confirmation trade.

This is where I am having a bit struggle right now on when would I do a set and forget trade or a confirmation trade. It seems that I am mixing it up on my execution
  • #4,180
  • Jul 4, 2017 2:56pm Jul 4, 2017 2:56pm
Quoting fuadj
{quote} Thank you Nojak for patience and will to help! Very clear explanation. I would like to ask another question if I may. I never had clear understanding of "over extention" term. Could you explain that please? How to define price over extention?
Dear fuadj,

This is how I understand over extended price. I drew a scheme for you. Hope this will help.
Attached Image (click to enlarge)
Click to Enlarge Name: Over extended price scheme.png Size: 48 KB

Best wishes.
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