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Price Will Tell - Supply/Demand Price Action Trading

  • #1,721
  • Aug 18, 2017 10:15am Aug 18, 2017 10:15am
Quoting 89ks
slight shift of momentum on gold futures. bullish momentum spikes could bring more expensive prices above 1298.8. 1293-1294 scalp is my current play, given no volatility spikes. 1278.5 & 75-76 momentum depending. 75ish daily should be the first target if this sells off strong. 1281s could see action. not interested for now. have a good start to the week {image}
took a little while, prices are expensive now above 1298.8, thats why it is selling off a little intraday.
could see selling again but it will take time htf to turn the tides. 93-94ish could see buying. not interested for now.
1289.7ish should see buyers. momentum will be key.
1303-.7ish could see intraday selling, but i will not stand in front of this buying.
longs are the safer bet.

have a good weekend
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  • #1,722
  • Aug 19, 2017 6:55am Aug 19, 2017 6:55am
Quoting DonaldFX
Hello guys, what is your opinion about eur/usd from daily chart point of view? It runs upwards like crazy but I think that now there could be a trend change.
At this point I think Daily needs to be considered in the context of the higher TFs, particularly MN.

MN for me remains technically down but with price breaking out north of the channel we have to consider the possibility of a direction change. The questions are, will price continue going up or will it retrace and offer a buy opportunity, or will it do something completely different? I don't know the answers, neither do I see a trading opportunity on this TF, but the SD footprint is very clear to see.

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With the above in mind what I see on Daily is essentially some clear SD/SR with the direction obviously, up. What I don't see at this point, however, is evidence of a "trend" change. Price looks like it wants to retrace so there's obviously some supply at the top of the flag to facilitate that, but until that supply is tested and PA gives me a signal that it is selling off, the D1 direction for me remains, up*.

* I should point out this doesn't mean I won't try sell it on say, M15/M5, but this is a different conversation.

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  • #1,723
  • Aug 19, 2017 5:05pm Aug 19, 2017 5:05pm
All the tails on D but with no upward follow through looks like it will consume the area right below and possible RET to 1.15
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  • #1,724
  • Aug 20, 2017 4:19am Aug 20, 2017 4:19am
Quoting rudy5
All the tails on D but with no upward follow through looks like it will consume the area right below and possible RET to 1.15 {image}
Yea, if a decent lower TF short sets up those D1 levels can be used as targets.
  • #1,725
  • Aug 20, 2017 10:59am Aug 20, 2017 10:59am
Trading Room

Been thinking about starting a trading room. Posting charts in public is a great way of regulating one's own trading but I think I've now posted enough for general public consumption. I still want to share charts but wish to do this offline with a small group of dedicated SD/SR traders.

I've activated the PM facility so if anyone is interested to help get the group started please let me know (the room will probably open mid-September). If you are interested to join please read and consider all of the following before sending a PM:

 

  1. Although I understand you may not be a full-time trader you must contribute your own charts at least once per trading day
  2. If you're struggling in your own trading you are still more than welcome to join as long as you are pro-active and willing to ask questions and be responsible for your own learning
  3. I'm only looking to share charts with people who are trading the principles laid out in this thread
  4. If you have never contributed to this thread prior to reading this post please do not make a request to join the room as it will not be answered
  5. Initially, the room will just be an extension of this thread - in other words, a place to post charts with some basic description. There will be no audio chat facility my side for the foreseeable future. There will obviously be some real-time text chat but I can't make any commitment to participating at this point
  6. There will only be five members in the room - four others and myself. On that basis, membership is offered on a first-come-first-served basis
  7. The room will be free to join
  8. We will be trading currencies only
  9. All communications in the room will be in English
  10. I would like to explore alternatives to Skype. My intention is for a genuine peer-to-peer facility with no adverts, forced updates, stability issues etc etc. All suggestions welcome (as long as the software operates on Mac as well as Windows)

I think that's all for now. If I have any more thoughts I'll add them later. Cheers

  • #1,726
  • Aug 20, 2017 8:45pm Aug 20, 2017 8:45pm
Dang check out how last week closed. Will be interesting to watch what happens. UJ
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  • #1,727
  • Aug 20, 2017 11:16pm Aug 20, 2017 11:16pm
Quoting simond2002
Trading Room Been thinking about starting a trading room. Posting charts in public is a great way of regulating one's own trading but I think I've now posted enough for general public consumption. I still want to share charts but wish to do this offline with a small group of dedicated SD/SR traders. I've activated the PM facility so if anyone is interested to help get the group started please let me know (the room will probably open mid-September). If you are interested to join please read and consider all of the following before sending a PM: Although...
Hello Simon I'm on trading hiatus becoz of my full time work will get back to trading from mid september once im done with the work that pays the bill. My request is please do keep posting here even if you start a new room. Thanks
  • #1,728
  • Aug 21, 2017 9:49am Aug 21, 2017 9:49am
AU on the H charts looks like it wants to make a new high. Hopefully it swings back down
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  • #1,729
  • Aug 21, 2017 11:05am Aug 21, 2017 11:05am
Quoting rudy5
AU on the H charts looks like it wants to make a new high. Hopefully it swings back down {image}
I don't see the point of your post - on the TF you posted it made a new low and it is far away from making a new high...!?
  • #1,730
  • Aug 21, 2017 11:19am Aug 21, 2017 11:19am
yeah sorry I should have posted an hourly chart along with it... The green box was the swing high I was referring to. I've cancelled the pending order though now. I would still look to buy it, just not with a limit entry at this point
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  • #1,731
  • Aug 24, 2017 2:14am Aug 24, 2017 2:14am
gbpaud is cheap(er) htf.
beginning to turn the tides h4 h6, daily isn't as convincing yet.
prices above 1.6275 are necessary for any chances of this continuing upwards.
pound news soon.
if this trades above 6275, 6185ish should hold as support. momentum will be key.
trimmed most of my longs to not be trapped in a news spike.

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  • #1,732
  • Aug 24, 2017 11:30pm Aug 24, 2017 11:30pm
Quoting 89ks
gbpaud is cheap(er) htf. beginning to turn the tides h4 h6, daily isn't as convincing yet. prices above 1.6275 are necessary for any chances of this continuing upwards. pound news soon. if this trades above 6275, 6185ish should hold as support. momentum will be key. trimmed most of my longs to not be trapped in a news spike. {image}
Hi 89ks,

I agree with you about its too early to tell for a bullish movement. All Higher time frames are bearish, especially on the daily where price is currently congested and if it clears through on the H4/H1 time frames with a retest or good candle formations, we will be targeting the white dashed support line on daily chart. Also notice the series of lower highs.

I yesterday shorted/scalped few pips on M30 .

The only logical reason for this current congestion on daily, is that price has touched the yellow trend line and needs to break through it.

Attached H1 which clearly defines the range of current PA.
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  • #1,733
  • Aug 25, 2017 12:15am Aug 25, 2017 12:15am
Quoting 89ks
gbpaud is cheap(er) htf. beginning to turn the tides h4 h6, daily isn't as convincing yet. prices above 1.6275 are necessary for any chances of this continuing upwards. pound news soon. if this trades above 6275, 6185ish should hold as support. momentum will be key. trimmed most of my longs to not be trapped in a news spike. {image}

couldn't price above 1.6275.
1.6185ish held, missed it, and hit first target.
to continue up, we need to price above 6265/6275.
looking to buy around 1.6105 if intraday lows establish support.
6305 & 6325 could be res if this rips, not interested in it

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.
  • #1,734
  • Aug 25, 2017 12:21am Aug 25, 2017 12:21am
Quoting mtharwat
{quote} Hi 89ks, I agree with you about its too early to tell for a bullish movement. All Higher time frames are bearish, especially on the daily where price is currently congested and if it clears through on the H4/H1 time frames with a retest or good candle formations, we will be targeting the white dashed support line on daily chart. Also notice the series of lower highs. I yesterday shorted/scalped few pips on M30 . The only logical reason for this current congestion on daily, is that price has touched the yellow trend line and needs to break...
good job, scalp that sucker dry
  • #1,735
  • Aug 25, 2017 12:48am Aug 25, 2017 12:48am
Quoting 89ks
{quote} good job, scalp that sucker dry
  • #1,736
  • Aug 25, 2017 1:26am Aug 25, 2017 1:26am
EUR CAD

On the daily, Price has made a lower high and is about to touch the upper trend line giving some room for scalps.

Shortened on 30 min.
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  • #1,737
  • Aug 25, 2017 1:47am Aug 25, 2017 1:47am
shortened GBP USD as well
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  • #1,738
  • Aug 25, 2017 2:01am Aug 25, 2017 2:01am
I love the PA on USD CAD

Some annotations on the charts H4 and H1
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  • #1,739
  • Aug 25, 2017 8:00am Aug 25, 2017 8:00am
USD CAD: still running (will be holding position over weekend)

GBP USD: -11 pips

EUR CAD : +20
  • #1,740
  • Aug 25, 2017 9:15am Aug 25, 2017 9:15am
nice fresh level hit after yellen speech. i pulled out early as im off to bed


SG
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the more you know the less you need.
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