DislikedThank you. May be you could make the post more helpful by adding relevant charts. Trade safe and prosper. KP {quote}Ignored
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Cable Update (GBPUSD)
- #457,762
- Feb 6, 2018 1:38pm Feb 6, 2018 1:38pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Very good, mate
KP
KP
{quote} yes of course. here you are, i hope it will be usefull. {image} {image}
Do your homework, follow the footprints of smart money
- #457,763
- Feb 6, 2018 1:45pm Feb 6, 2018 1:45pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #457,764
- Feb 6, 2018 2:44pm Feb 6, 2018 2:44pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #457,766
- Feb 7, 2018 10:17am Feb 7, 2018 10:17am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
nice move on GU 
Self discipline It is a practice
- #457,767
- Feb 7, 2018 10:28am Feb 7, 2018 10:28am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
Ok, so yesterday's pullback to prior Supply and short trade looked like this;
In more detail we are looking for the retest of the subwave (i) of the start of the move. That will generally be a small 123. You will be amazed how often it will get touched to the pip and then reverse from that level;
Now, you can gamble that the trend will continue to fresh lows, but there will usually be another reaction from where the prior Demand was (remember, we are using PA as evidence of where buyers & sellers enter the market - there are likely unfilled or partial filled orders still at these levels). So i run a tight stop when we approach these levels, bringing my stoploss chase down to a pip above/below each completed candle. You can see that it did indeed react at prior demand and took out the trade.
I like to grab and thus despite my thoughts that is going to go lower for trend continuance, i would rather grab what is available and look for the next set-up.
In more detail we are looking for the retest of the subwave (i) of the start of the move. That will generally be a small 123. You will be amazed how often it will get touched to the pip and then reverse from that level;
Now, you can gamble that the trend will continue to fresh lows, but there will usually be another reaction from where the prior Demand was (remember, we are using PA as evidence of where buyers & sellers enter the market - there are likely unfilled or partial filled orders still at these levels). So i run a tight stop when we approach these levels, bringing my stoploss chase down to a pip above/below each completed candle. You can see that it did indeed react at prior demand and took out the trade.
I like to grab and thus despite my thoughts that is going to go lower for trend continuance, i would rather grab what is available and look for the next set-up.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #457,768
- Feb 7, 2018 11:38am Feb 7, 2018 11:38am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
I was out, so i missed the next pullback and am not looking for any 'brownie points', however...
Re-iterating what i wrote above and looking at a faster tick rate (for a more detailed chart), now you can see the small 123 at the the Supply zone which is the start of the prior set and as i suggested, we just touched it to the pip and reacted;
It's all about matching the size of the last cycle to the prior S/D zone. We had not made a fresh low, thus the immediate prior Supply zone is the level to look out for with the retrace.
Re-iterating what i wrote above and looking at a faster tick rate (for a more detailed chart), now you can see the small 123 at the the Supply zone which is the start of the prior set and as i suggested, we just touched it to the pip and reacted;
It's all about matching the size of the last cycle to the prior S/D zone. We had not made a fresh low, thus the immediate prior Supply zone is the level to look out for with the retrace.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #457,769
- Feb 7, 2018 9:00pm Feb 7, 2018 9:00pm
- Joined Jun 2013 | Status: enjoying life | 23,868 Posts
- #457,770
- Feb 7, 2018 9:07pm Feb 7, 2018 9:07pm
- Joined Jun 2013 | Status: enjoying life | 23,868 Posts
- #457,772
- Feb 8, 2018 2:06am Feb 8, 2018 2:06am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
GU H4
Self discipline It is a practice
- #457,773
- Feb 8, 2018 2:58am Feb 8, 2018 2:58am
- Joined Oct 2010 | Status: Trader | 21,479 Posts
Intraday only.
- #457,775
- Feb 8, 2018 6:24am Feb 8, 2018 6:24am
- Joined Sep 2008 | Status: Trader | 1,217 Posts
If you're not part of the solution then you're part of the problem.
- #457,777
- Feb 8, 2018 7:30am Feb 8, 2018 7:30am
- | Joined Aug 2012 | Status: Trader | 2,263 Posts
A 1 pip gain is better than a 1 pip loss.
- #457,778
- Feb 8, 2018 7:46am Feb 8, 2018 7:46am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
