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Trading Strategies Using Price Action & Order Flow

  • #121
  • Nov 9, 2017 12:55pm Nov 9, 2017 12:55pm
Quoting jacob12
As for EU, I think there is a good chance price can go up to the White box. Best, Jacob {image}
Almost...

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9.png Size: 58 KB
  • #122
  • Nov 9, 2017 1:04pm Nov 9, 2017 1:04pm
Quoting jacob12
{quote} Out with 0.3R loose. Best, Jacob
What does "R" mean? Your overall risk per trade?

Ty
Fenix Capital Mgmt Return This Month: na
  • #123
  • Nov 9, 2017 1:22pm Nov 9, 2017 1:22pm
Quoting elDIABLO21
{quote} What does "R" mean? Your overall risk per trade? Ty
Hey elDIABLO21,

It's the risk/reward ratio.

Best,
Jacob
  • #124
  • Nov 9, 2017 2:50pm Nov 9, 2017 2:50pm
Look at this baby

BUOB on the 1H for the EURNZD pair on a great flip.

Look at the low of the next bar how he finds a support on that level.

I had missed that setup

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD.mH1.png Size: 50 KB
  • #125
  • Nov 9, 2017 2:51pm Nov 9, 2017 2:51pm
Hey! Jacob,

What do you mean by orderflow?

Giacomo
  • #126
  • Nov 9, 2017 3:04pm Nov 9, 2017 3:04pm
Quoting TrendRider86
Hey! Jacob, What do you mean by orderflow? Giacomo
Hey TrendRider86,

At each flip of support and resistance there are orders which were placed by traders.

Take the 9H PB on the EU for an example (https://www.forexfactory.com/showthr...0#post10469580), when price starts to break that support to the downside, there are breakout traders which went short, when price (the PB) is closing above that level, that means that all those short traders are now trapped in negative balance.

So after price had closed back above the support, all those short traders needs to get out of their trades at BE, meaning they have to buy back at that level.

Did it help to understand that concept?

Best,
Jacob
  • #127
  • Nov 9, 2017 6:37pm Nov 9, 2017 6:37pm
Quoting jacob12
I'm Short on the NZDUSD. Chart will be added later. Best, Jacob
Hi Jacob,

What timeframe are you shorting?
  • #128
  • Nov 10, 2017 12:46am Nov 10, 2017 12:46am
Quoting ahm034
{quote} Hi Jacob, What timeframe are you shorting?
Hey ahm034,

Have a look here: https://www.forexfactory.com/showthr...8#post10478348

At the end, it did work but I always try to minimize my risk, that's a part of the game

Best,
Jacob
  • #129
  • Nov 10, 2017 3:28am Nov 10, 2017 3:28am
Quoting jacob12
{quote} Here are the charts. We had 3H BEOB on the NZDUSD on a great flip area, I got short on the retrace to that level. You can see on the 1H that price had respected that area, went again to that level and finally breaking it to the up side. I gave the trade more room since it's a great flip but cut out for -0.3R. Best, Jacob {image} {image}
Hi Jacob,

An interesting observation on your NZD/USD 3 hr time frames...
I suspect your time zone is different to the U.K. at the moment which is probably why your candles look so different. I don't have the same candle patterns on this 3hr chart attachment and there is no obvious BEOB yesterday morning.
On the 4 hr chart I have attached it is much clearer at the 10am candle under the blue arrow.
It is also interesting that the top of that candle just touched my resistance line at .69788 which would have been a good stop area just the other side.

I didn't trade this but thanks for sharing, your analysis is great to see.

I have mailed you my email addy for the webinar.
I can't help with the platform I'm afraid as have no idea how to set these up.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Jacob 2.PNG Size: 49 KB
Click to Enlarge Name: Jacob12.PNG Size: 48 KB
  • #130
  • Nov 10, 2017 4:22am Nov 10, 2017 4:22am
Quoting jacob12
{quote} Almost... Best, Jacob {image}
Bingo

Holding this would have gain you +2.5R

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH9.png Size: 59 KB
  • #131
  • Nov 10, 2017 4:33am Nov 10, 2017 4:33am
Quoting robgsxr
{quote} Hi Jacob, An interesting observation on your NZD/USD 3 hr time frames... I suspect your time zone is different to the U.K. at the moment which is probably why your candles look so different. I don't have the same candle patterns on this 3hr chart attachment and there is no obvious BEOB yesterday morning. On the 4 hr chart I have attached it is much clearer at the 10am candle under the blue arrow. It is also interesting that the top of that candle just touched my resistance line at .69788 which would have been a good stop area just the other...
Hey robgsxr,

I didn't share this (yet) since no one had asked about it, I have a script which helps me aggregate bars and also control the bar open / close time.

So basically, I can control how the bar will look like, when you see 3H chart in your software, you are limited to the aggregation of it, you can't control the time of the open and close of the candles.

So, there are three different candles we can aggregate in order to get our 3H bar

 

  1. First - with what you see in your software
  2. Second - open one hour later
  3. Third - open two hours later

There is no point moving the open three hours later since we will go back to the first option, so we left with only three options.

I had attached how the chart will look like on each option.

Does that help a little to understand the differences?

Best,
Jacob

Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSDH3 +0.png Size: 46 KB
Click to Enlarge Name: NZDUSDH3 +1.png Size: 47 KB
Click to Enlarge Name: NZDUSDH3 +2.png Size: 46 KB
  • #132
  • Nov 10, 2017 4:58am Nov 10, 2017 4:58am
Quoting jacob12
{quote} Hey robgsxr, I didn't share this (yet) since no one had asked about it, I have a script which helps me aggregate bars and also control the bar open / close time. So basically, I can control how the bar will look like, when you see 3H chart in your software, you are limited to the aggregation of it, you can't control the time of the open and close of the candles. So, there are three different candles we can aggregate in order to get our 3H bar First - with what you see in your software Second - open one hour later Third - open two hours later...
Thanks for explaining Jacob.
That makes perfect sense.
I assume therefore you are trading an MT3 / 4 platform?
  • #133
  • Nov 10, 2017 5:03am Nov 10, 2017 5:03am
Quoting robgsxr
{quote} Thanks for explaining Jacob. That makes perfect sense. I assume therefore you are trading an MT3 / 4 platform?
Hey robgsxr,

I use MT4 as my charting platform, the script fits only to this version and it won't fit to MT5.

Best,
Jacob
  • #134
  • Nov 10, 2017 5:08am Nov 10, 2017 5:08am
Quick trade.

3H BEOB on the USDCHF on a major flip.

Got short on the retrace to that area.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH3.png Size: 51 KB
  • #135
  • Nov 10, 2017 5:21am Nov 10, 2017 5:21am
Quoting jacob12
Quick trade. 3H BEOB on the USDCHF on a major flip. Got short on the retrace to that area. Best, Jacob {image}
Half risk is off now.

SL above the bar highs, where Red arrow is.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH3.png Size: 50 KB
  • #136
  • Nov 10, 2017 5:25am Nov 10, 2017 5:25am
Quoting jacob12
{quote} Half risk is off now. SL above the bar highs, where Red arrow is. Best, Jacob {image}
Closed for +~0.3R

I still think price will go the line below, just something poped and can't handle the trade any further.

Best,
Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH3.png Size: 50 KB
  • #137
  • Nov 11, 2017 2:21am Nov 11, 2017 2:21am
I was very lucky to end flat on my last two trades (NZDUSD & USDCHF).

I think that I handled the SL / TP very well according to my trading plan, but from the entry point of view, I had violated my trading plan.

I fell to where I always claim not to trade the pattern but look how the pattern was created, I hope to learn and remember this for future trades.

Best,
Jacob
  • #138
  • Nov 14, 2017 4:05pm Nov 14, 2017 4:05pm
How are you jacob?

What do you think about my AUDCAD trade? I hope it is a good BUOB.

Attached Image (click to enlarge)
Click to Enlarge Name: audcad-d1-trading-point-of.png Size: 27 KB


Bigger picture
Attached Image (click to enlarge)
Click to Enlarge Name: audcad-w1-trading-point-ofc2.png Size: 36 KB
  • #139
  • Nov 15, 2017 8:10pm Nov 15, 2017 8:10pm
Jacob? still there?
Fenix Capital Mgmt Return This Month: na
  • #140
  • Nov 16, 2017 1:46am Nov 16, 2017 1:46am
Quoting Bigindoda
How are you jacob? What do you think about my AUDCAD trade? I hope it is a good BUOB. {image} Bigger picture {image}
Hey Bigindoda,

Technically, it's not a BUOB since the close isn't above last bar high.

I think it's not that good, why do you think it's? (after you will write what you think I will write my own thoughts)

Best,
Jacob
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