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Trading Strategies Using Price Action & Order Flow

  • #81
  • Nov 7, 2017 6:24am Nov 7, 2017 6:24am
Quoting FireEater
Hey Jacob12 and everyone I am liking the look of shorting a retest of 1.68 on EURNZD target 1.66 whats your view? I like the break of support at 1.68 after several tests of this area and a daily close below looking for a retest the short https://uk.tradingview.com/x/x11NvrE7/ FireEater
Hey FireEater,

There is no flip breaking here, you are trading into that swing high which I see now that was broken to the downside, so you should be @ BE now

Best,
Jacob
  • #82
  • Nov 7, 2017 8:28am Nov 7, 2017 8:28am
Quoting jacob12
{quote} Hey FireEater, There is no flip breaking here, you are trading into that swing high which I see now that was broken to the downside, so you should be @ BE now Best, Jacob
Hey Jacob

My order didn't get filled @ 1.676 just short of the 38 fib (candle high of the session was 8 pips short) - No biggy I live to trade another day. Still like EURUSD short though now 1.6 support has broken to 1.50 - looking for an opportunity to short.. Whats your view?

Steve
Health Wealth and Happiness
  • #83
  • Nov 7, 2017 11:34am Nov 7, 2017 11:34am
Quoting FireEater
{quote} Hey Jacob My order didn't get filled @ 1.676 just short of the 38 fib (candle high of the session was 8 pips short) - No biggy I live to trade another day. Still like EURUSD short though now 1.6 support has broken to 1.50 - looking for an opportunity to short.. Whats your view? Steve
Hey,

I'm long on EU

Chart will be added later.

Best,
Jacob
  • #84
  • Nov 7, 2017 1:28pm Nov 7, 2017 1:28pm
Quoting jacob12
{quote} Hey, I'm long on EU Chart will be added later. Best, Jacob
Here is the chart.

Price tried to break last swing low but then reversed and we close as a 9H PB.

I'm in from the close and look to reduce below the low of the current bar which had tested that area and found a support.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9.png Size: 59 KB
  • #85
  • Nov 7, 2017 1:30pm Nov 7, 2017 1:30pm
Quoting FireEater
{quote} Hey Jacob My order didn't get filled @ 1.676 just short of the 38 fib
Hey FireEater,

If you want to make it in this game, you will have to drop all indicators (including fib)

The quicker you will do it the better

Best,
Jacob
  • #86
  • Nov 7, 2017 1:52pm Nov 7, 2017 1:52pm
Quoting jacob12
{quote} Hey FireEater, If you want to make it in this game, you will have to drop all indicators (including fib) The quicker you will do it the better Best, Jacob
Hi Jacob,

Price reacts to fib levels(I use 1D/1W Timeframes), MA levels(I Use 100MA-200MA). In my opinion using them don't deviate from the main purpose of watch PA reacting to levels or zones.

Best Regards
Fenix Capital Mgmt Return This Month: na
  • #87
  • Nov 7, 2017 2:08pm Nov 7, 2017 2:08pm
Quoting elDIABLO21
{quote} Hi Jacob, Price reacts to fib levels(I use 1D/1W Timeframes), MA levels(I Use 100MA-200MA). In my opinion using them don't deviate from the main purpose of watch PA reacting to levels or zones. Best Regards
Hey elDIABLO21,

As I see it, the market doesn't care about all those indicators, but if it works for you THAT'S GREAT!

I had seen many traders blown their account using indicators and are now profitable after using clean chart only.

Best,
Jacob
  • #88
  • Nov 7, 2017 2:15pm Nov 7, 2017 2:15pm
Quoting jacob12
{quote} Here is the chart. Price tried to break last swing low but then reversed and we close as a 9H PB. I'm in from the close and look to reduce below the low of the current bar which had tested that area and found a support. Best, Jacob {image}
Okay, I had reduced most of my risk moving my SL under the current bar low.

We have a box just above us that can hold price, I will more to BE one we hit it.

Will take final profit at the upper box which is more major area.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9.png Size: 59 KB
  • #89
  • Nov 7, 2017 10:09pm Nov 7, 2017 10:09pm
Quoting jacob12
{quote} Okay, I had reduced most of my risk moving my SL under the current bar low. We have a box just above us that can hold price, I will more to BE one we hit it. Will take final profit at the upper box which is more major area. Best, Jacob {image}
I'm now @ BE.

We can see that price is now testing the lower box where it can't continue higher.

Most chances we will see a break of that area to the up side where price will go the the upper box.

If that will be the case, I will start to lock in some profit.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9.png Size: 59 KB
  • #90
  • Nov 7, 2017 11:19pm Nov 7, 2017 11:19pm
Quoting jacob12
{quote} I'm now @ BE. We can see that price is now testing the lower box where it can't continue higher. Most chances we will see a break of that area to the up side where price will go the the upper box. If that will be the case, I will start to lock in some profit. Best, Jacob {image}
Hey Jacob

Nice trade - what makes you think price will break higher? through 1.6 - I was looking at that as resistance to go short.. Do you have a measure from the 9H PB or something to indicate probable TP area or are you just looking at the previous candle (to the left) highs/lows?

On the indicators (fibs and ema's)- I like to use them for confirmation/confluence do you think that is confusing?

Cheers

Steve
Health Wealth and Happiness
  • #91
  • Nov 8, 2017 3:06am Nov 8, 2017 3:06am
Quoting jacob12
{quote} I'm now @ BE. We can see that price is now testing the lower box where it can't continue higher. Most chances we will see a break of that area to the up side where price will go the the upper box. If that will be the case, I will start to lock in some profit. Best, Jacob {image}
Price almost hit my TP but saw it's hard for price to actually make it to that level, so manually closed for 0.8R

In total, I'm 2.2R for November, will hardly trade due to the fact I had hit my monthly target and taking vacation soon.

Will trade only prime setups if i will see one.

Best,
Jacob
  • #92
  • Nov 8, 2017 3:28am Nov 8, 2017 3:28am
Quoting jacob12
{quote} Price almost hit my TP but saw it's hard for price to actually make it to that level, so manually closed for 0.8R In total, I'm 2.2R for November, will hardly trade due to the fact I had hit my monthly target and taking vacation soon. Will trade only prime setups if i will see one. Best, Jacob
Great trading Jacob - target hit so early in the month, Congrats
Health Wealth and Happiness
  • #93
  • Nov 8, 2017 9:21am Nov 8, 2017 9:21am
Quoting jacob12
{quote} Price almost hit my TP but saw it's hard for price to actually make it to that level, so manually closed for 0.8R In total, I'm 2.2R for November, will hardly trade due to the fact I had hit my monthly target and taking vacation soon. Will trade only prime setups if i will see one. Best, Jacob
Hi Jacob,
Nice to know that you have hit your monthly target. However, as everyone says inorder to reach your target one should not look for trade when there is none, conversely even if the target is reached why should one not take a trade if a setup is present. There is no guarantee that next month there will be a A+ setup. Therefore, shouldn't we be guided by the setup rather than our personal monthly target.
Your thoughts on the above please.
Cheers
  • #94
  • Nov 8, 2017 12:18pm Nov 8, 2017 12:18pm
Quoting FireEater
{quote} Hey Jacob Nice trade - what makes you think price will break higher? through 1.6 - I was looking at that as resistance to go short.. Do you have a measure from the 9H PB or something to indicate probable TP area or are you just looking at the previous candle (to the left) highs/lows? On the indicators (fibs and ema's)- I like to use them for confirmation/confluence do you think that is confusing? Cheers Steve
Hey Steve,

First of all, we found support again on this level, nice

Second, you can watch at the chart and see that that area where price had stalled doesn't jump at you like the swing low point the PB was formed at.

Even where I TP, I think that price will break it to the upside until it will meet a much significant area where heavy sellers might be.

I always reduce risk or TP at flip areas, those areas are where price might stall / reverse at me, it's a matter of practice and watch many hours at chart seeing where price is turning etc.

As for indicators, as long as it's for confluence only, it's okay, but as you can see how I trade, you really don't need them.

Hope that helps.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB
  • #95
  • Nov 8, 2017 12:22pm Nov 8, 2017 12:22pm
Quoting novice198
{quote} Hi Jacob, Nice to know that you have hit your monthly target. However, as everyone says inorder to reach your target one should not look for trade when there is none, conversely even if the target is reached why should one not take a trade if a setup is present. There is no guarantee that next month there will be a A+ setup. Therefore, shouldn't we be guided by the setup rather than our personal monthly target. Your thoughts on the above please. Cheers
Hey novice198,

As I progress with my profit during the month I will take prime trades only, meaning A++ setups (I had written it in my posts).

In addition, November is about to be a month of holiday with little liquidly in the markets, I want to take a vacation as well, so with my profit, it all fits together.

I'm still guided by setups, just that I will take the A++ ones, that's all

Hope that answers your question.

Best,
Jacob
  • #96
  • Nov 8, 2017 12:27pm Nov 8, 2017 12:27pm
As for EU, I think there is a good chance price can go up to the White box.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9 long term.png Size: 59 KB
  • #97
  • Nov 8, 2017 1:35pm Nov 8, 2017 1:35pm
Long UJ 7H PB

Let's see if we get it right...

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.mH7.png Size: 56 KB
  • #98
  • Nov 8, 2017 2:25pm Nov 8, 2017 2:25pm
Quoting jacob12
Long UJ 7H PB Let's see if we get it right... Best, Jacob {image}
Moved my SL where the Red arrow is, below the box of support.

We have a minor box above us where price might stall, will go to BE if price will hit that area.

Going to TP at the upper box, this will reflect a 0.75R on that trade.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.mH7.png Size: 57 KB
  • #99
  • Nov 8, 2017 8:35pm Nov 8, 2017 8:35pm
Quoting jacob12
{quote} Moved my SL where the Red arrow is, below the box of support. We have a minor box above us where price might stall, will go to BE if price will hit that area. Going to TP at the upper box, this will reflect a 0.75R on that trade. Best, Jacob {image}
Thanks mate!. +21 pips on this one.
Fenix Capital Mgmt Return This Month: na
  • #100
  • Nov 8, 2017 10:31pm Nov 8, 2017 10:31pm
Quoting jacob12
{quote} Moved my SL where the Red arrow is, below the box of support. We have a minor box above us where price might stall, will go to BE if price will hit that area. Going to TP at the upper box, this will reflect a 0.75R on that trade. Best, Jacob {image}
I'm @ BE.

My TP was missed by a couple of pips

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.mH7.png Size: 56 KB
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