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Simple Low Risk Price Action Trading w/ TE Results

  • #61
  • Sep 20, 2017 1:30pm Sep 20, 2017 1:30pm
Quoting vikvikram
did you enter planning to exit prior to fomc or does news not bother you?
Most red news I want to be out of the market if the pair is affected by the news. In this case I haven't traded four a couple hours and don't plan on trading until some setups form from the FOMC results. So I didn't even take the second GBP/USD trade because there was a chance it could not finish before FOMC. It actually would have hit the second TP but it's not worth it to risk being exposed to the FOMC jump. Especially this one because the market expected the rates to stay unchanged (which they did) and caused that initial bear USD move and then they announced the higher probability of a rate hike in December which then caused the reverse bull USD move. There probably wont be any setups for this strategy for a few hours or even into Tokyo session.
  • #62
  • Sep 20, 2017 1:34pm Sep 20, 2017 1:34pm
also, on the gbpusd M15 my par doesn't swap to underneath until 5 bars after the divergence - which is also where the new template shows up the change. Wonder what's up there?
  • #63
  • Sep 20, 2017 1:40pm Sep 20, 2017 1:40pm
Quoting vikvikram
also, on the gbpusd M15 my par doesn't swap to underneath until 5 bars after the divergence - which is also where the new template shows up the change. Wonder what's up there?
Only thing I can think of is that it's a broker feed problem. What broker are you using? Post a screenshot and I'll compare it.
  • #64
  • Sep 20, 2017 1:41pm Sep 20, 2017 1:41pm
So I have spoted a good opportunity on AUDCAD M15, it should be a perfect entry on theory, however an unexpected huge downward spike wiped out this trade. I checked news, didn't see any AUD or CAD related news around that time. Why is this happening ?
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  • #65
  • Sep 20, 2017 1:48pm Sep 20, 2017 1:48pm
Quoting tonyget
So I have spoted a good opportunity on AUDCAD M15, it should be a perfect entry on theory, however an unexpected huge downward spike wiped out this trade. I checked news, didn't see any AUD or CAD related news around that time. Why is this happening ? {image}
Well first, you did spot a good opportunity. Unfortunately you didn't check the most important news all week. FOMC will have an effect on all pairs. We've been discussing that you shouldn't have positions open during or around FOMC.
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  • #66
  • Sep 20, 2017 1:58pm Sep 20, 2017 1:58pm
appreciate the feedback - forex.com is broker
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  • #67
  • Sep 20, 2017 2:03pm Sep 20, 2017 2:03pm
Quoting Embry1
{quote} Well first, you did spot a good opportunity. Unfortunately you didn't check the most important news all week. FOMC will have an effect on all pairs. We've been discussing that you shouldn't have positions open during or around FOMC. {image}


Looks like I missed some previous discussion , thanks for clarification !
  • #68
  • Sep 20, 2017 2:23pm Sep 20, 2017 2:23pm
Quoting vikvikram
appreciate the feedback - forex.com is broker {image}
So forex.com uses Gain Capital as a liquidity provider and I've noticed from using thinkorswim which is also Gain Capital that there can sometimes be a big lag compared to other STP brokers. Both of those brokers are Market Makers so they are trading against you. I recommend a STP broker with a +3 GMT server for the most accurate signals. If you're in the US like myself, this can be quite a challenge to find one.
  • #69
  • Sep 20, 2017 5:30pm Sep 20, 2017 5:30pm
I think I understand & will post screen shot trades tomorrow if I can find setups - from 1000gmt, good luck
  • #70
  • Sep 21, 2017 4:19am Sep 21, 2017 4:19am
Caught a quick one this morning.Sar was just below middle and ma but looked close enough and stop was small,r/r was 1/3 so took it.closed out manually at 28 pips
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  • #71
  • Sep 21, 2017 4:28am Sep 21, 2017 4:28am
just woke up and it looks like I missed a bullish opportunity with eurjpy
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  • #72
  • Sep 21, 2017 4:36am Sep 21, 2017 4:36am
Also, would you consider the attached gbpjpy a valid opp? Not quite to BB midpoint but nice divergence and seemingly close S/L for a pair that really moves
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  • #73
  • Sep 21, 2017 4:39am Sep 21, 2017 4:39am
usdjpy might be setting up on the 1hr
  • #74
  • Sep 21, 2017 4:44am Sep 21, 2017 4:44am
above thread should say GBPAUD, apologies
  • #75
  • Sep 21, 2017 6:52am Sep 21, 2017 6:52am
Quoting vikvikram
Also, would you consider the attached gbpjpy a valid opp? Not quite to BB midpoint but nice divergence and seemingly close S/L for a pair that really moves {image}
So with that divergence I would absolutely consider that trade. Remember you don't have to have 4/4 signals for a valid trade. That would be under the category of a strong 3/4. However the SL would have to be under the middle bollinger band because if it broke that it would only have 2/4 signals.
  • #76
  • Sep 21, 2017 7:00am Sep 21, 2017 7:00am
is this a valid setup? 3/4 signal i think......
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  • #77
  • Sep 21, 2017 7:11am Sep 21, 2017 7:11am
Quoting Abah5
is this a valid setup? 3/4 signal i think...... {image}
I'm looking at that too, check the 15 minute chart for a good entry. However the 15 minute chart is showing some bullish divergence. Be a little cautious right now because the market is still recovering from the FOMC moves so these pullbacks may pull back to the EMA 100 before deciding which way to go.
  • #78
  • Sep 21, 2017 7:56am Sep 21, 2017 7:56am
Not a whole lot to choose from at the moment but here are my top picks from this morning so far. Most of the market is quite choppy from FOMC still so just be patient on great setups, I wouldn't try to cut corners today. I wasn't awake for any of these but hopefully some of you were and spotted these.

2 of these are 3/4 setups but with the divergence it's a strong 3/4.
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  • #79
  • Sep 21, 2017 8:30am Sep 21, 2017 8:30am
Quoting Embry1
Not a whole lot to choose from at the moment but here are my top picks from this morning so far. Most of the market is quite choppy from FOMC still so just be patient on great setups, I wouldn't try to cut corners today. I wasn't awake for any of these but hopefully some of you were and spotted these. 2 of these are 3/4 setups but with the divergence it's a strong 3/4. {image} {image} {image}
how are you watching so many pairs? it's very hard to track all pairs.
  • #80
  • Sep 21, 2017 8:41am Sep 21, 2017 8:41am
Quoting Sehanw
{quote} how are you watching so many pairs? it's very hard to track all pairs.
3 monitors. Main screen is a 28 inch 4k with 15 pairs on the 1H chart, then I have the 15 minute charts on the two other monitors.
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