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Price action trading - Trade like the pros!

  • #861
  • Dec 11, 2017 8:30am Dec 11, 2017 8:30am
Quoting WDays
When in doubt check the Commitment of Traders index. Commercial Net longs were increased late november, as dollar was moving lower. {image}
hi wdays, which we should focus to watch? commercial or large for the direction of dollar?. is it large net short (going south) mean dollar will go south too? please elaborate more. thanks in advance
  • #862
  • Dec 12, 2017 3:25am Dec 12, 2017 3:25am
Quoting open1
{quote} hi wdays, which we should focus to watch? commercial or large for the direction of dollar?. is it large net short (going south) mean dollar will go south too? please elaborate more. thanks in advance
I generally watch both, I only disregard the retail traders (Small Speculators). Large Speculators (LS) are usually trend followers, while commercials (CS) are hedgers. So for me, LS show me the "now" in terms of trend, while CS warn me of potential trend shifts.
  • #863
  • Dec 12, 2017 3:26am Dec 12, 2017 3:26am
Quoting open1
{quote} hi wdays, please correct me. you mean you are expecting fiber at some point will go south? and dollar will go north? thanks
Yes, I am expecting /hoping/ fiber will rally to 1.1850 and decline from there. It's my weekly trade idea.
  • #864
  • Dec 12, 2017 4:05am Dec 12, 2017 4:05am
Quoting WDays
{quote} I generally watch both, I only disregard the retail traders (Small Speculators). Large Speculators (LS) are usually trend followers, while commercials (CS) are hedgers. So for me, LS show me the "now" in terms of trend, while CS warn me of potential trend shifts.
thanks wdays
  • #865
  • Dec 12, 2017 4:05am Dec 12, 2017 4:05am
GU trade idea, buy the dip, hold until the last high.
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  • #866
  • Dec 12, 2017 4:06am Dec 12, 2017 4:06am
UC trade idea, short from Sz to Dz in order to fill the liq void.
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  • #867
  • Dec 12, 2017 4:12am Dec 12, 2017 4:12am
may u explain why u see that view? is it for the trend line + daily key level?? thnks
  • #868
  • Dec 12, 2017 4:15am Dec 12, 2017 4:15am
Quoting witowito
may u explain why u see that view? is it for the trend line + daily key level?? thnks
Which one do you mean? I don't use trendlines as dynamic S/R. If it's UCad you're talking about, there's a daily supply zone right under a key resistance level. Then, there's a demand zone below, at 1.2720
  • #869
  • Dec 12, 2017 4:24am Dec 12, 2017 4:24am
Thnks for ur answer, i was asking for cable but its good to know also for usdcad
  • #870
  • Dec 12, 2017 4:27am Dec 12, 2017 4:27am
Quoting witowito
Thnks for ur answer, i was asking for cable but its good to know also for usdcad
Cable is roughly the same, H4 Dz (the green trendline) and support on the upper side of the consolidation range we see at roughly 1.3290. Price is moving slow, I suspect it may move up intraday into the m15 Sz @ 1.3395 and shoot down to the aforementioned 1.3290 level, taking out liquidity below 1.3320 and resulting in a neat intraday trade.

EDIT: Just as I was typing it, it actually broke thru 1.3320 )
  • #871
  • Dec 12, 2017 4:32am Dec 12, 2017 4:32am
As far as Fiber, I've the feeling a retrace back to 1.1750 will thrust price higher, to 1.1830 at least or ideally, 1.1850, where I would short.
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  • #872
  • Dec 12, 2017 4:59am Dec 12, 2017 4:59am
i have darwinex bróker and i see i have different candles tan urs so mi PA and key levels are differents WTF
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  • #873
  • Dec 12, 2017 5:32am Dec 12, 2017 5:32am
Quoting witowito
i have darwinex bróker and i see i have different candles tan urs so mi PA and key levels are differents WTF {image}
This is related to broker work hours, timezones and a ton of other stuff. It's why I use the forex co uk ltd mt4 for my charting and analysis, it's proven to be the most accurate thus far. It's a GMT broker.
  • #874
  • Dec 12, 2017 6:25am Dec 12, 2017 6:25am
Quoting WDays
{quote} This is related to broker work hours, timezones and a ton of other stuff. It's why I use the forex co uk ltd mt4 for my charting and analysis, it's proven to be the most accurate thus far. It's a GMT broker.
Do you still use ICT concept? Do you know how to setup the fib tool with OTE?
"Small gains add up."
  • #875
  • Dec 12, 2017 6:33am Dec 12, 2017 6:33am
Quoting StarGazer23
{quote} Do you still use ICT concept? Do you know how to setup the fib tool with OTE?
I have my own spin on ICT concepts I use fib, but not exactly the way he uses it. Plus, he has so many uses for it, I think it's redundant at one point. To each his own.
  • #876
  • Dec 12, 2017 8:12am Dec 12, 2017 8:12am
Quoting WDays
{quote} I have my own spin on ICT concepts I use fib, but not exactly the way he uses it. Plus, he has so many uses for it, I think it's redundant at one point. To each his own.
I watch some of his videos but I can't find how he set up his fib tool. Could you please share with us how you use fib through your own concept in combination of ict concept?
"Small gains add up."
  • #877
  • Dec 12, 2017 11:01am Dec 12, 2017 11:01am
Quoting StarGazer23
{quote} I watch some of his videos but I can't find how he set up his fib tool. Could you please share with us how you use fib through your own concept in combination of ict concept?
Take a look man

Inserted Video
  • #878
  • Dec 12, 2017 11:36am Dec 12, 2017 11:36am
Stopped on my ucad and eu trades, idea negated so far. Waiting on uj and cable.
  • #879
  • Dec 13, 2017 5:38am Dec 13, 2017 5:38am
Running but doesn't feel right.
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  • #880
  • Dec 13, 2017 7:32am Dec 13, 2017 7:32am
Boom!
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