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Price action trading - Trade like the pros!

  • #761
  • Oct 7, 2017 11:09am Oct 7, 2017 11:09am
Quoting WDays
https://www.youtube.com/watch?v=PP1w...ature=youtu.be The Fibonacci video I promised...

Thanks for taking the time to put this video together! It is greatly appreciated.
  • #762
  • Oct 7, 2017 11:17am Oct 7, 2017 11:17am
Quoting IHeartPips
{quote} Thanks for taking the time to put this video together! It is greatly appreciated.
Thanks for the feedback! I hope it helps out. I like keeping things simple, my usage of fibs is as simple as can be.
  • #763
  • Oct 7, 2017 2:45pm Oct 7, 2017 2:45pm
Quoting WDays
https://youtu.be/ibXBBPpE_r8 Here's the final result. {image}
Hey WDays,

New member here, long time stalker of your thread.

Thanks for sharing that beautiful trade. In fact, i was long in that same trade too but I got stopped out. Reason why i was long is due to the fact that the dollar index was at a strong resistance area and the eurusd was at a strong support which I didn't see them breaking through both without a strong fundamental data. I also figured the area below 1.1680 (where my stop loss was located) should help push back any spiked pre and post data release.

My question is good sir, how off was my analysis? and if you do not mind, could you share with us your thought process before you took that trade?

Thanks alot and keep up the good work
  • #764
  • Oct 8, 2017 6:21am Oct 8, 2017 6:21am
Quoting Sult4n
{quote} Hey WDays, New member here, long time stalker of your thread. Thanks for sharing that beautiful trade. In fact, i was long in that same trade too but I got stopped out. Reason why i was long is due to the fact that the dollar index was at a strong resistance area and the eurusd was at a strong support which I didn't see them breaking through both without a strong fundamental data. I also figured the area below 1.1680 (where my stop loss was located) should help push back any spiked pre and post data release. My question is good sir, how...
You're right about the KSR, but there's something more to it. I had plotted out two scenarios for the NFP to play out.. The one I acted upon was this one:
Attached Image(s) (click to enlarge)
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  • #765
  • Oct 8, 2017 6:29am Oct 8, 2017 6:29am
Scenario #2:

The other thing I was sort of expecting was a lower fiber after a liquidity swipe on the 15 minute. It missed my sell limit at the level, so I waited it out a bit and saw it struggle to move much lower. Meanwhile I checked the data and it turned out it's mixed. I ended up instead using this scenario's levels as my targeted levels.
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  • #766
  • Oct 8, 2017 6:31am Oct 8, 2017 6:31am
Sometimes trading HIN news can be much easier. In my head, it's obvious what's gonna happen - other times I plan out several ways it can play out and decide which one to act on based on experience and instinct, after seeing hundreds of market reactions to HIN.

In friday's NFP trade, I was wrong. I expected much more volatility. But I adapted, which is why I still posted the live youtube video - to give you an idea of how dynamic things can be, and how to adapt. I show you my decision making process, since that's what brings profit to our accounts.
  • #767
  • Oct 9, 2017 9:06am Oct 9, 2017 9:06am
Running...
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  • #768
  • Oct 9, 2017 9:10am Oct 9, 2017 9:10am
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  • #769
  • Oct 9, 2017 9:59am Oct 9, 2017 9:59am
EU seems like it won't work out, stop is at b/e. Holding GU at 35 pips profit...
  • #770
  • Oct 9, 2017 3:48pm Oct 9, 2017 3:48pm
Lovely stuff Wdays,thanks for sharing.
  • #771
  • Oct 10, 2017 2:03am Oct 10, 2017 2:03am
Hi every one

Yesterday I shorted NZD/JPY.

What do you all think of Target Profit 1 and 2?

Thanks
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  • #772
  • Oct 10, 2017 4:24am Oct 10, 2017 4:24am
For FXCM users and the USDOLLAR vs USDX

Quote
Jason Rogers FXCM
USDOLLAR is the Dow Jones FXCM Dollar Index, while USDX is the ICE Dollar Index. USDOLLAR is equally weighted against the Euro, Japanese Yen, British Pound, and Australian Dollar.

USDX, reflecting its inception in 1973, is very heavy in European currencies, with a 58.6% weighting in the Euro alone, and a total 78.3% weighting in European currencies.
http://img203.imageshack.us/img203/5959/usdx.png
You can trade USDOLLAR with us, and it's also possible to chart USDX on our platform if you download the free custom indicator for the ICE Dollar Index (shown above).
Jason
// Jim Ęgirson https://discord.gg/Dkm3demYsx
  • #773
  • Oct 10, 2017 8:24am Oct 10, 2017 8:24am
Quoting WDays
EU seems like it won't work out, stop is at b/e. Holding GU at 35 pips profit...
Ended up closing manually after price made a higher low for less than 30 pips.

Re-entered short at the 78.6 fib level. Reduced my target for now until momentum picks up...
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  • #774
  • Oct 10, 2017 8:31am Oct 10, 2017 8:31am
Market structure shifted, let's wait for price to get "in the zone"
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  • #775
  • Oct 10, 2017 8:38am Oct 10, 2017 8:38am
If you guys are paying attention, you should be getting this by now...

1. Fake low that went lower than the previous one by just a bit
2. Rally that took out a recent swing high thus making for a market structure shift.
3. Retrace expected into a fib/demand level.
4. Continued rally to the previous swing high.
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  • #776
  • Oct 10, 2017 10:25am Oct 10, 2017 10:25am
Stop hit on GU -20
  • #777
  • Oct 10, 2017 11:08pm Oct 10, 2017 11:08pm
thanks for explaining.

yea i got burned badly by GU last week. ill prolly leave that pair alone for the reminder of this year and focus more on swissy. October should be a terrible month for US dollar so im just gonna wait for the euro to retrace near 1.1760 area and go long on eur.
  • #778
  • Oct 17, 2017 10:34am Oct 17, 2017 10:34am
Hi Alex,

I want to ask u something, i just read and watch ur videos but i did not get the way u understad the market at all, is it necessary firstable to learn from ICT and after that switch to ur method or is it posible to learn from zero? there are many things that i do no know why or how u set it. thnks anyway for all ur Works.
  • #779
  • Oct 18, 2017 10:47am Oct 18, 2017 10:47am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
This thread still live?
Watching the space with interest. Good analogy by WD. However it seems thread is near closure. Sad state for a good thread!
  • #780
  • Oct 21, 2017 6:09pm Oct 21, 2017 6:09pm
Quoting witowito
Hi Alex, I want to ask u something, i just read and watch ur videos but i did not get the way u understad the market at all, is it necessary firstable to learn from ICT and after that switch to ur method or is it posible to learn from zero? there are many things that i do no know why or how u set it. thnks anyway for all ur Works.
I've said it so many times now, trading is 40% practice, 30% knowing your stuff, 30% preparation You can't expect to read the thread and be at the same level anybody who invested so much into something, anything. Don't worry, you'll get it soon enough. Keep going at it.
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