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Price action trading - Trade like the pros!

  • #841
  • Nov 23, 2017 5:34am Nov 23, 2017 5:34am
Hi Alex, thanks u you for all value able information, is there any chance if you could provide win rate(estimated) as I demoing it, but stil interested to know as you have been trading from while.
  • #842
  • Nov 24, 2017 5:21am Nov 24, 2017 5:21am
Quoting DavidBains
Hi Alex, thanks u you for all value able information, is there any chance if you could provide win rate(estimated) as I demoing it, but stil interested to know as you have been trading from while.
I'm afraid there is no universal WR on this. Each to their own It depends on a lot of factors, mine is pretty high since I take very few trades and cherry pick each one.
  • #843
  • Nov 24, 2017 7:50am Nov 24, 2017 7:50am
Quoting lemercenaire
{quote} Might be something to do with the fact it's Thanksgiving Day in a few hours, lol.

Yes happy thanksprofiting day , Hopefully
  • #844
  • Nov 24, 2017 4:31pm Nov 24, 2017 4:31pm
Spot supply on gbpusd, what do u think Wdays?

thank u
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDx.png Size: 38 KB
  • #845
  • Nov 29, 2017 3:28am Nov 29, 2017 3:28am
hi alex,

after we define supply/demand zone. how to differentiate which one will hit that supply/demand zone and retrace and which one will go through? what should we aware and anticipate? thanks
  • #846
  • Nov 29, 2017 7:20am Nov 29, 2017 7:20am
Alex,

Cant do charts right now because I'm at work but...

I tried analysing DXY over the weekend. I concluded that on the weekly, the index was sitting right at a demand zone and the most likely scenario was an initial dip into that zone around 92.5 followed by a rally up to supply in the 94 area


On that basis, I concluded that the EURUSD would likely rally a bit and then fall this week.

That's enabled me to set up 2 fire and forget trades this week.

1) a long EU @1.1902 which never hit
2) a short EU @ 1.19607 (H4 Supply) which hit perfectly and got me 40 pips

and today...
3) another short @ 1.1873 (H1 supply and expectation of continued DXY strength) is currently 45 pips up with TP @1.1810


I'd be interested to know if this is a complete fluke or does it match up with your own expectations.
  • #847
  • Dec 2, 2017 4:42am Dec 2, 2017 4:42am
Hey everyone, I'm moving at the moment, so I'm less in touch with the thread and you guys, I'll try to answer questions when I've set up my new office.
  • #848
  • Dec 4, 2017 10:28am Dec 4, 2017 10:28am
2/3 of the position is off at 33 pips profit, holding a small amount til the 40 pip TP or b/e. Risk free anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM15.png Size: 44 KB
  • #849
  • Dec 4, 2017 12:13pm Dec 4, 2017 12:13pm
Quoting WDays
2/3 of the position is off at 33 pips profit, holding a small amount til the 40 pip TP or b/e. Risk free anyway. {image}
Took off the rest for 16 pips before it got to my stop.
  • #850
  • Dec 5, 2017 4:29am Dec 5, 2017 4:29am
I hope we see gap filling today..
Attached Image (click to enlarge)
Click to Enlarge Name: USDXM15.png Size: 62 KB
  • #851
  • Dec 5, 2017 5:31am Dec 5, 2017 5:31am
I've built my daily positions around this trade - got GU and UJ also. I want EURGBP to rally and USDx to decline.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 45 KB
  • #852
  • Dec 5, 2017 7:38am Dec 5, 2017 7:38am
Unfortunately, my trade idea did not work out. I cut off all positions and got stopped on UJ for -20
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 61 KB
  • #853
  • Dec 5, 2017 7:50am Dec 5, 2017 7:50am
Quoting WDays
Unfortunately, my trade idea did not work out. I cut off all positions and got stopped on UJ for -20 {image}
It's good to know im screwed cuz i just opened long @1.1839
  • #854
  • Dec 5, 2017 10:00am Dec 5, 2017 10:00am
Quoting Sult4n
{quote} It's good to know im screwed cuz i just opened long @1.1839
Not necessarily, market is pretty much rangebound, just in a large and wide range. I hate it when it does that because momentum is slower and it gets you to question your trade decisions even more. Yes, we all question our decisions no matter how advanced or not we are.
  • #855
  • Dec 5, 2017 12:27pm Dec 5, 2017 12:27pm
Quoting WDays
Unfortunately, my trade idea did not work out. I cut off all positions and got stopped on UJ for -20 {image}
It seems 'gap must be filled' myth often fails these days. I guess that's because it's wide spead to retailers these days. Big boys take advantage on that as usual....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #856
  • Dec 5, 2017 12:29pm Dec 5, 2017 12:29pm
Quoting heispark
{quote} It seems 'gap must be filled' myth often fails these days. I guess that's because it's wide spead to retailers these days. Big boys take advantage on that as usual....
It still works fine on stocks, it's a big part of my strategy. Forex.. not so much, yeah.
  • #857
  • Dec 8, 2017 5:05am Dec 8, 2017 5:05am
Yesterday's EU london open trade, unfortunately price whipsawed above the high of the day and took me out for 10 pips, instead of my 30 pip TP. I've had a hard time landing good trades this week, I didn't get a fill on GU short yesterday and got me upset. No trades until next week, payrolls inc today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 53 KB
  • #858
  • Dec 11, 2017 7:17am Dec 11, 2017 7:17am
When in doubt check the Commitment of Traders index. Commercial Net longs were increased late november, as dollar was moving lower.
Attached Image (click to enlarge)
Click to Enlarge Name: DXY00_Barchart_Interactive_Chart_12_11_2017.png Size: 31 KB
  • #859
  • Dec 11, 2017 7:19am Dec 11, 2017 7:19am
Dollar reached a Sz and started to move lower, while Fiber went to a Dz and turned. I've denoted a possible rebound level for dollar to rally from and Fiber to decline from. Now, time will tell.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDXH4.png Size: 55 KB
Click to Enlarge Name: EURUSDH4.png Size: 50 KB
  • #860
  • Dec 11, 2017 8:04am Dec 11, 2017 8:04am
Quoting WDays
Dollar reached a Sz and started to move lower, while Fiber went to a Dz and turned. I've denoted a possible rebound level for dollar to rally from and Fiber to decline from. Now, time will tell. {image} {image}
hi wdays, please correct me. you mean you are expecting fiber at some point will go south? and dollar will go north? thanks
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