Billytt Die happy trading e/j daily breakout | Page 1279 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #25,561
  • Mar 14, 2018 7:48am Mar 14, 2018 7:48am
Quoting billytt
{quote} Lem does need a big thanks for all his charting and help he does.
Appreciate that, Billy, I really do. You've made me feel more than welcome here. Thanks.
  • #25,562
  • Mar 14, 2018 7:52am Mar 14, 2018 7:52am
Quoting lemercenaire
{quote} That retrace has just about reached its own 50 now, so could be a chance to add in coming up.
That Crude add-in went well, right back to the 62-R1...

Attached Image (click to enlarge)
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Anyone in needs to be very careful now, as Oil Inventories are creeping closer.
  • #25,563
  • Mar 14, 2018 7:54am Mar 14, 2018 7:54am
Quoting lemercenaire
Running parallel to my usual morning with some action on the 500. Yesterday had straightforward DWZ action and today is the same. I was in a bit late due to having to actually sleep but price was running along a Demand Zone and gave me an entry I was happy enough with. Price is trundling on up to the 50-Fib and with a bit of luck will get there just as the US Open kicks in.
Still hanging around the 50...

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  • #25,564
  • Mar 14, 2018 8:05am Mar 14, 2018 8:05am
Back to The Dead Zone and I wasn't very keen on running UC on it today. Oil Inventories as mentioned, then when I went to have a look, the set-up was terrible, with the set-up candle as a doji, sitting on a small Demand Zone with a large, solid, Supply Zone above. Nah, not for me.

I had just about enough time to quickly scan a couple of my better alternatives in some kind of order (trying to pull the pairs out of the back of the filing cabinet in my brain, more like) and checked them off...

EJ (usually a good bet as it was the original DZ pair)...Another doji, price hanging about in the middle of nowhere...nope.

With time running out, that left GN, my mental friend, always the life and soul of the party and guaranteed to do something daft at any given point in the day. Bingo.

Bull set-up candle heading up to a pretty solid Supply Zone and lots of space for price to drop back down into. What more could you ask for (with 30 seconds left till KO).

Dead Zone (WZ Short back into the body). Sweeeeeeeet!
Attached Image (click to enlarge)
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  • #25,565
  • Mar 14, 2018 8:12am Mar 14, 2018 8:12am
Oh yeah, Gold was another option - and it had a similar look to GN. However the Supply Zone was farther away and...well, that was it really. Not as much room below, maybe but basically I just ran out of time and had to make a choice.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.cH1ohyeahgoldwasanotheroption-DZcwDropFromHigh14thMar18.png Size: 33 KB


I haven't taken the time to go check if the break North came first before the drop or whatever and tbh, I don't care. Lunch is calling.

Looking at it now, one way to have played it was to have simply taken the rebound out of the Supply Zone. Hey ho.
  • #25,566
  • Edited 9:41am Mar 14, 2018 9:03am | Edited 9:41am
Quoting lemercenaire
Back to The Dead Zone and I wasn't very keen on running UC on it today. Oil Inventories as mentioned, then when I went to have a look, the set-up was terrible, with the set-up candle as a doji, sitting on a small Demand Zone with a large, solid, Supply Zone above. Nah, not for me. I had just about enough time to quickly scan a couple of my better alternatives in some kind of order (trying to pull the pairs out of the back of the filing cabinet in my brain, more like) and checked them off... EJ (usually a good bet as it was the original DZ pair)...Another...
Dead Zone -Like you, I left it alone -body far too SMALL - wicks very long - and too close to S and D zones.
every Saint has a past. Every Sinner has a Future
  • #25,567
  • Mar 14, 2018 9:09am Mar 14, 2018 9:09am
Quoting turnip15
{quote} Dead Zone -Like you, I left it alone -body far too big and too close to S and D zones.
Sorry, Mr-T...body too big? Too small, yes?

Sorry, don't mean to pull you up, just to clear any confusion for those watching, that's likely caused simply by switching words.

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  • #25,568
  • Mar 14, 2018 9:19am Mar 14, 2018 9:19am
Quoting lemercenaire
Back to The Dead Zone and I wasn't very keen on running UC on it today. Oil Inventories as mentioned, then when I went to have a look, the set-up was terrible, with the set-up candle as a doji, sitting on a small Demand Zone with a large, solid, Supply Zone above. Nah, not for me. I had just about enough time to quickly scan a couple of my better alternatives in some kind of order (trying to pull the pairs out of the back of the filing cabinet in my brain, more like) and checked them off... EJ (usually a good bet as it was the original DZ pair)...Another...
I have been trying Alien methodology ( Daily Wick Zone) - not too be confused with the "Dead Zone" - on the E/J Lem. Using the hourly bar a break short would have taken place around 7 am, about which time I am usually conscious and alert (ish). Will trial it some more before going live with it.
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every Saint has a past. Every Sinner has a Future
  • #25,569
  • Mar 14, 2018 9:29am Mar 14, 2018 9:29am
Quoting turnip15
{quote} I have been trying Alien methodology ( Daily Wick Zone) - not too be confused with the "Dead Zone" - on the E/J Lem. Using the hourly bar a break short would have taken place around 7 am, about which time I am usually conscious and alert (ish). Will trial it some more before going live with it. {image}
DWZ on EJ is golden, Mr-T...assuming you are awake, yes.

If you combine S+D Zones, then it does give you opportunities like today, where you would have had the confidence to go in later after the initial head-fakes (and you will get head-fakes, remember).

Attached Image (click to enlarge)
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  • #25,570
  • Mar 14, 2018 9:39am Mar 14, 2018 9:39am
Quoting lemercenaire
{quote} Sorry, Mr-T...body too big? Too small, yes? Sorry, don't mean to pull you up, just to clear any confusion for those watching, that's likely caused simply by switching words. {image}
Hah -yes. Should read my own comment :-)
Body small and wicks too long......................but see currently a good move North past smaller wick at top of body, if you were prepared to wait, which I wasn't.
Picture of some Doji and other candle shapes
Attached Image
every Saint has a past. Every Sinner has a Future
  • #25,571
  • Mar 14, 2018 9:42am Mar 14, 2018 9:42am
Quoting lemercenaire
{quote} DWZ on EJ is golden, Mr-T...assuming you are awake, yes. If you combine S+D Zones, then it does give you opportunities like today, where you would have had the confidence to go in later after the initial head-fakes (and you will get head-fakes, remember). {image}
One way to fine tune your entries and cut out the stress a little, is to drop to the m15 (m5 is a little too manic and usually m15 is fine) and use the technique (used by a lot of Aliens) of letting a candle close below the (entry) line, then wait till it retraces and re-tests that level before entering.

So, in the shot below, you would have the initial break and close at candle #1...the re-test at candle #2.

Price then climbs back higher and in fact you could fade here and look to take back some of the loss you'd be sitting on at candle #3.

Once things are running, you then would have the opportunity to keep things tight at the small contraction level to protect your profits, before adding in at that micro Supply Zone (#4) to continue on.

Attached Image (click to enlarge)
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Close up on that...

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  • #25,572
  • Mar 14, 2018 9:44am Mar 14, 2018 9:44am
Quoting lemercenaire
{quote} One way to fine tune your entries and cut out the stress a little, is to drop to the m15 (m5 is a little too manic and usually m15 is fine) and use the technique (used by a lot of Aliens) of letting a candle close below the (entry) line, then wait till it retraces and re-tests that level before entering. So, in the shot below, you would have the initial break and close at candle #1...the re-test at candle #2. Price then climbs back higher and in fact you could fade here and look to take back some of the loss you'd be sitting on at candle...
Using the close-below-retest-and-enter tech does obviously mean that almost inevitably you will miss out on a huge momo move that just blows right through once in a while.

Hey, them's the breaks.

You make your own call on how you prefer to do things there. You could obviously have the chance to enter later anyway, of you freelance a little as the day goes on.
  • #25,573
  • Mar 14, 2018 10:00am Mar 14, 2018 10:00am
Quoting lemercenaire
{quote} Using the close-below-retest-and-enter tech does obviously mean that almost inevitably you will miss out on a huge momo move that just blows right through once in a while. Hey, them's the breaks. You make your own call on how you prefer to do things there. You could obviously have the chance to enter later anyway, of you freelance a little as the day goes on.
Well that was a break straight off the pivot. lol know that's not what you meant but a nice chart.
Attached Image (click to enlarge)
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  • #25,574
  • Mar 14, 2018 10:08am Mar 14, 2018 10:08am
Quoting claudia1
{quote} Well that was a break straight off the pivot. lol know that's not what you meant but a nice chart. {image}
Candle close, retest, re-enter......looks good to me! Nice trading Claudia!
  • #25,575
  • Mar 14, 2018 10:45am Mar 14, 2018 10:45am
Quoting claudia1
{quote} Well that was a break straight off the pivot. lol know that's not what you meant but a nice chart. {image}
Claudia

May i ask you if you trade London open , or just stating afternoon if there are no important news in the morning ?
I'm not speaking of Pivot points trading.

thanks
SB
trying to make everyday the best risk/reward decisions possible
  • #25,576
  • Mar 14, 2018 11:17am Mar 14, 2018 11:17am
EJ continued on it's merry way through the DWZ and has also just delivered a nice bounce off the bottom, just for fun.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.cH1asDWZwithanicebounceatend14thMar18.png Size: 48 KB


Heck of a day.
  • #25,577
  • Mar 14, 2018 11:19am Mar 14, 2018 11:19am
Quoting claudia1
{quote} Well that was a break straight off the pivot. lol know that's not what you meant but a nice chart. {image}
It does illustrate the close over-retest-enter, technique perfectly. Nice.
  • #25,578
  • Mar 14, 2018 11:47am Mar 14, 2018 11:47am
Quoting slowbrain
{quote} Claudia May i ask you if you trade London open , or just stating afternoon if there are no important news in the morning ? I'm not speaking of Pivot points trading. thanks SB
Hi

If you would have asked that two or three years ago London open would have been the answer. Prefer NY open now then into London fix.
  • #25,579
  • Mar 14, 2018 11:51am Mar 14, 2018 11:51am
Quoting lemercenaire
{quote} It does illustrate the close over-retest-enter, technique perfectly. Nice.
I didn't see it that way (Bo did) funnily enough.
  • #25,580
  • Mar 14, 2018 12:09pm Mar 14, 2018 12:09pm
Nothing to do with anything but yummy with a chilled glass ...
Attached Image
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