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Trading Strategies Using Price Action & Order Flow

  • #41
  • Nov 3, 2017 12:51am Nov 3, 2017 12:51am
Quoting elDIABLO21
Hello Jacob Thanks for all the info you are giving away, Would you consider publishing a trade explorer, so we can have a better look into your trades Thanks in advance
Hey elDIABLO21,

I trade with IB which doesn't offer a MT4 platform.

Is there a possibility to open a trade explorer without a MT4 account?

Best,
Jacob
  • #42
  • Nov 3, 2017 1:15am Nov 3, 2017 1:15am
I entered USDCHF at the start of today's candle 0.99916 2 day pin bar previous 2 bars (although not perfect) - currently 10 pips up looking to close before NFP

https://uk.tradingview.com/x/rcHHN9yA/
Health Wealth and Happiness
  • #43
  • Nov 3, 2017 1:43am Nov 3, 2017 1:43am
Quoting FireEater
I entered USDCHF at the start of today's candle 0.99916 2 day pin bar previous 2 bars (although not perfect) - currently 10 pips up looking to close before NFP https://uk.tradingview.com/x/rcHHN9yA/
Hey FireEater,

This is not a good trade, that's for a couple of reasons:

 

  1. The PB is formed at the middel of the box, it's not at a swing point
  2. The close of the bar is just on those 2 bars high, it can act as a resistance from the lower TF, you can see that it respects that area and price is starting to decline from that level. look at the 4H chart, you are trading right into a flip of support and resistance
  3. A good PB is one with a wich bigger than the candle body, here it's almost the same

I don't say the trade won't work, it can work, but I don't think it's an A+ setup.

Hope that helps.

Best,
Jacob

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  • #44
  • Nov 3, 2017 1:53am Nov 3, 2017 1:53am
Hey jacob

Thanks for the feedback. It helps me heaps mate believe me. It's going OK at the minute but slow.

I just thought I was seeing a double bar high lower close? Previous 2 day candles?

Appreciate your input

Cheers

Fireeater
Health Wealth and Happiness
  • #45
  • Nov 3, 2017 2:02am Nov 3, 2017 2:02am
Quoting FireEater
Hey jacob Thanks for the feedback. It helps me heaps mate believe me. It's going OK at the minute but slow. I just thought I was seeing a double bar high lower close? Previous 2 day candles? Appreciate your input Cheers Fireeater
Oh, you wanted to go short, not long?

Best,
Jacob
  • #46
  • Nov 3, 2017 2:08am Nov 3, 2017 2:08am
Quoting jacob12
{quote} Oh, you wanted to go short, not long? Best, Jacob
Yep I'm short from 99916
Health Wealth and Happiness
  • #47
  • Edited 3:02am Nov 3, 2017 2:26am | Edited 3:02am
Quoting FireEater
{quote} Yep I'm short from 99916
Okay, short is another thing, better trade . What I had described above is if you wanted to go long, so just forget about what I had written lol.

I just won't take it from the daily TF but from the 4H TF where I see the flip of support and resistance.

I don't know where you have placed your SL, but you shouldn't take a loose above current bar high which had tested the flip area.

Sorry for the misunderstanding before.

Best,
Jacob
  • #48
  • Edited 6:49am Nov 3, 2017 4:03am | Edited 6:49am
Quoting jacob12
{quote} Okay, short is another thing, better trade . What I had described above is if you wanted to go long, so just forget about what I had written lol. I just won't take it from the daily TF but from the 4H TF where I see the flip of support and resistance. I don't know where you have placed your SL, but you shouldn't take a loose above current bar high which had tested the flip area. Sorry for the misunderstanding before. Best, Jacob
Its all good - price is close to my stop at the moment so not looking too flash

Closed @ BE getting close to NFP so don't want to be in any dollar trade
Health Wealth and Happiness
  • #49
  • Nov 3, 2017 8:07am Nov 3, 2017 8:07am
Quoting FireEater
{quote} Its all good - price is close to my stop at the moment so not looking too flash Closed @ BE getting close to NFP so don't want to be in any dollar trade
You made the right call. Always try to protect your capital as much as you can.

Best,
Jacob
  • #50
  • Nov 3, 2017 12:18pm Nov 3, 2017 12:18pm
Quoting FireEater
{quote} Its all good - price is close to my stop at the moment so not looking too flash Closed @ BE getting close to NFP so don't want to be in any dollar trade
See after the break of that flip to the upside at 1H chart that now this area acts as support.

Best,
Jacob
  • #51
  • Nov 3, 2017 4:51pm Nov 3, 2017 4:51pm
Quoting jacob12
{quote} See after the break of that flip to the upside at 1H chart that now this area acts as support. Best, Jacob
So would you look to buy at 1.00? would you be looking for further conformation of upside/candle patterns?

https://uk.tradingview.com/x/f4qEzu9t/
Health Wealth and Happiness
  • #52
  • Nov 3, 2017 6:57pm Nov 3, 2017 6:57pm
Quoting FireEater
{quote} So would you look to buy at 1.00? would you be looking for further conformation of upside/candle patterns? https://uk.tradingview.com/x/f4qEzu9t/
Yes, i would. But price already tested that area on the hourly chart so i won't get in.

I like to get in at the first time back to that area.

Hope that helps.

Best,
Jacob
  • #53
  • Nov 4, 2017 4:13pm Nov 4, 2017 4:13pm
Quoting FireEater
Hey jacob Thanks for the feedback. It helps me heaps mate believe me. It's going OK at the minute but slow. I just thought I was seeing a double bar high lower close? Previous 2 day candles? Appreciate your input Cheers Fireeater
HI fire eater I am new to FF and this is my first post so forgive me if I say the wrong thing, I was also looking at taking this trade as a dbhlc but the thing that stoped me was it didnt close lower than the bar before so it wasnt a dbhlc. I had the order in place and then removed it. It was my first dbhlc trade and new to trading these set ups. I have been reading james16 post from the begining and then came across some of Jacob12 post and like ur thread nice job
  • #54
  • Nov 5, 2017 3:33am Nov 5, 2017 3:33am
Quoting Fishingmad
I have been reading james16 post from the begining and then came across some of Jacob12 post and like ur thread nice job
Hey Fishingmad,

Thank you for the feedback, I really appreciate it.

I hope I will be able to help new folks with my thread here.

Best,
Jacob
  • #55
  • Nov 5, 2017 4:10am Nov 5, 2017 4:10am
Quoting jacob12
Nice flip of support and resistance on the GBPUSD pair with hard break above that box. Could be a great place to go long on the retrace Jacob {image}

How would you go about trading this if it retraces? In a PDF I found in the J16 thread they would put a Buy Limit on the new support, how do we know that it isn't a false breakout or would you instead of puting in the pending order await price action around that area?

Giacomo
Attached File(s)
File Type: pdf Price Breaks Through.pdf   1.1 MB | 482 downloads
  • #56
  • Nov 5, 2017 5:36am Nov 5, 2017 5:36am
Quoting Fishingmad
{quote} HI fire eater I am new to FF and this is my first post so forgive me if I say the wrong thing, I was also looking at taking this trade as a dbhlc but the thing that stoped me was it didnt close lower than the bar before so it wasnt a dbhlc. I had the order in place and then removed it. It was my first dbhlc trade and new to trading these set ups. I have been reading james16 post from the begining and then came across some of Jacob12 post and like ur thread nice job
Hey Fishingmad

Your right it wasn't a dbhlc (as I called it) as it didn't close lower (as you correctly noted) However I took the trade based on the resistance level at parity (1.00) I thought it was a low risk trade.
I closed before the NFP release for BE as I don't like market exposure during major news events - then off course (murphys law) it moved 50 pips south on news release.. Hey ho I would rather be out than in during news - its much safer.

I too am still learning S and R and candle formations. I have already picked up heaps from Jacob12 (who started this thread) extremely helpful and always reply's - tells it how it is.

Long may it continue.

I'm very happy to share and learn along with everyone else
Health Wealth and Happiness
  • #57
  • Nov 5, 2017 5:45am Nov 5, 2017 5:45am
Quoting jacob12
{quote} Yes, i would. But price already tested that area on the hourly chart so i won't get in. I like to get in at the first time back to that area. Hope that helps. Best, Jacob
Are you not interested in any further retest's of 1.00 then Jacob12?

Steve
Health Wealth and Happiness
  • #58
  • Nov 5, 2017 5:47am Nov 5, 2017 5:47am
Quoting TrendRider86
{quote} How would you go about trading this if it retraces? In a PDF I found in the J16 thread they would put a Buy Limit on the new support, how do we know that it isn't a false breakout or would you instead of puting in the pending order await price action around that area? Giacomo {image}
Hey Giacomo,

It's not just trading with the retrace, it's understanding what to do, step by step. if you recall, I had written that once we had hit the swing high point, I would revoke the order, it's hard to explain why i'm doing that here in text, I hope that after the webinar things will be a bit clearer

I know that PDF, that's Jarroo system, my approach is completely different, for example (just one out of many ), I look at the wicks and he looks at the close. There is no right or wrong, there is what you believe in that will work for you. The point why both of us are profitable with different entry / exit is that we protect our capital no matter what.

Trading is 10% technical and 90% psychological in my eyes, I think that the most important thing before entry / exit is that you will have a plan how to cut your risk as much as you can, the gain will come (big time) after that.

As for your question, we can't know if that level will hold, we just have many factors that we know will work in the LONG term, meaning, if we will take this trade 100 of times, at the end we will be profitable.

You can blindly put a buy order on that level or wait for a PA bar, again, it's less important, what's important is how will you handle the trade if price will go against you.

Hope that helps.

Best,
Jacob
  • #59
  • Nov 5, 2017 5:52am Nov 5, 2017 5:52am
Quoting FireEater
{quote} Are you not interested in any further retest's of 1.00 then Jacob12? Steve
Hey Steve,

No, I won't enter blindly here (since on 1H that level was tested)

But, I will mark that zone as an important one and see what price will do there, maybe we will get a PA bar.

Always good to see you here

Best,
Jacob
  • #60
  • Nov 5, 2017 6:06am Nov 5, 2017 6:06am
Quoting FireEater
I have already picked up heaps from Jacob12 (who started this thread) extremely helpful and always reply's - tells it how it is. Long may it continue. I'm very happy to share and learn along with everyone else
Thank you, that gives me the power to continue posting.

I really hope I will be able to assist like I did until now.

Best,
Jacob
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