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Billytt Die happy trading e/j daily breakout

  • #32,101
  • Aug 2, 2018 12:30am Aug 2, 2018 12:30am
Quoting lemercenaire
Had a bit of fun to wind the day down. Checking the charts and had The Monster building a perfect nest - closing below a pivot and trigger-line confluence. Lovely. Two short entries. Truth be told, didn't expect as big a drop but happy to benefit from whatever it was... DAX-Monster 10-Min Chart Scalp {image} From there, we got the anticipated sucker-bounce back up... All the way to the Line... {image} That gave me the third entry, as price rebounds from the Z-Line... {image} Nice way to round out the day. Time for dinner now
Well played Lem, and thanks for the summary detail, IT all helps to make things clearer, Your squiggly is it 5 simple M/A .
  • #32,102
  • Aug 2, 2018 12:48am Aug 2, 2018 12:48am
Quoting billytt
i have been so busy all day.. Cable, i am having a bad time but it will be sorted, i had my friend try to bail me out as i was getting screwed by the esma changes but my main problem today was a guy who has crossed me, lol come to daddy.
Hope all is good with you Mr B.
  • #32,103
  • Aug 2, 2018 1:59am Aug 2, 2018 1:59am
'Morning, all.

Big, big, red day for the Pound. Have fun with that.

We've got Bond action for France and Spain, which technically concerns the Euro but actually won't do much of anything unexpected.

Anyway, we've got a reasonable Short bias for The Monster, though price is moving between anchor points at the moment.

Just had a nice 26 pip rebound from turncoat resistance that I had noted and really should have taken (5 min chart) had I not been on here, lol.

Note the opportunity to stack at the -Line.

Attached Image (click to enlarge)
Click to Enlarge Name: Inked.DE30.M5dropishoudhavehad2ndAug18-cropplusZ-Linemove_LI.jpg Size: 703 KB


Off to see what's what. Back in a mo.
  • #32,104
  • Aug 2, 2018 1:59am Aug 2, 2018 1:59am
Morning Guys, The Dax Lem Monster bout = +4.5 to Pip Yaaaaaaaay . Not my best entry L.O.L. franky open price made a gap Hi into Resistance but moved very quickly south so could not get in, soooo thought I will wait to see if she stalls at my Support area , Price closed below ermmmmm oh dear, = waited, then price closed above = Long but had to be quick as not a great deal of room to resistance, so BINGO. of course this is the Dax Monster and she could have blasted that resistance but look at the second pic Green pips to to all.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DAX30M1 2Aug Buy +4.5 points Price gap up fast fall to support break up Long quick out Resistanc.png Size: 43 KB
Click to Enlarge Name: DAX30M1 2Aug Buy +4.5 points Price gap up fast fall update 07-57.png Size: 41 KB
  • #32,105
  • Aug 2, 2018 2:26am Aug 2, 2018 2:26am
Quoting Pipradar
Morning Guys, The Dax Lem Monster bout = +4.5 to Pip Yaaaaaaaay . Not my best entry L.O.L. franky open price made a gap Hi into Resistance but moved very quickly south so could not get in, soooo thought I will wait to see if she stalls at my Support area , Price closed below ermmmmm oh dear, = waited, then price closed above = Long but had to be quick as not a great deal of room to resistance, so BINGO. of course this is the Dax Monster and she could have blasted that resistance but look at the second pic ...
Well played, Pips.

Just a quick note on that last point. I don't know if I ever told you directly about that zone of resistance below. This is not a normal resistance. You will see it is labelled as ''Turncoat''. This means that you should be aware that price is likely (or perhaps more likely than not) to push through and then treat it as the opposite as you'd expect. So, in your move...looking at it, you have a support zone below (as you note), however price is expected to push through and turn for a bit, then use it as resistance, hence it is a ''turncoat''. It is basically an -Line shown as a zone.

That's why I use this indi as an overlay of my S+D. It just brings a powerful extra dimension to the game.

Attached Image (click to enlarge)
Click to Enlarge Name: InkedPipsDAX30M1 2Aug Buy +4.5 points Price gap up fast fall update 07-57_LI.jpg Size: 454 KB
  • #32,106
  • Aug 2, 2018 2:38am Aug 2, 2018 2:38am
The Monster must have been feeling sorry for messing around over the last week, as it set off exactly as expected, complete with the sucker-move long as a WZ move back into the body of the 2-hr block. With the short bias, I was never going to take that (you may have got a half-pip if you'd been uber-quick but that was it) and so I played the scalp on the drop.

Some scalp. I ended up up some +20 odd...

10-Min Charts

Attached Image (click to enlarge)
Click to Enlarge Name: InkedDAX-Monster06.00-08.00doneasSis.Scalp2ndAug18ShortBias-crop_LI.jpg Size: 619 KB


...and as I moved to close it out, it just moved on farther and ended up closed for double that. That's just about made my month already.

Attached Image


After that, price closed below the pivot and then rebounded off, as you'd look for. I didn't trade that but it's nice to see it play out right.

Attached Image
  • #32,107
  • Aug 2, 2018 2:40am Aug 2, 2018 2:40am
Lovely stuff. Cuppa-Time...
  • #32,108
  • Aug 2, 2018 2:41am Aug 2, 2018 2:41am
Quoting Pipradar
{quote} Well played Lem, and thanks for the summary detail, IT all helps to make things clearer, Your squiggly is it 5 simple M/A .
Oh - and that bendy line is a 10 sma, Pips.
  • #32,109
  • Aug 2, 2018 2:55am Aug 2, 2018 2:55am
Quoting lemercenaire
{quote} Well played, Pips. Just a quick note on that last point. I don't know if I ever told you directly about that zone of resistance below. This is not a normal resistance. You will see it is labelled as ''Turncoat''. This means that you should be aware that price is likely (or perhaps more likely than not) to push through and then treat it as the opposite as you'd expect. So, in your move...looking at it, you have a support zone below (as you note), however price is expected to push through and turn for a bit, then use it as resistance,...
Thanks Lem for explaining this, clear now, also for your further analysis, you put things in perspective in a very good way
  • #32,110
  • Aug 2, 2018 2:56am Aug 2, 2018 2:56am
Quoting lemercenaire
{quote} Oh - and that bendy line is a 10 sma, Pips.
Yaaaaay
  • #32,111
  • Aug 2, 2018 3:07am Aug 2, 2018 3:07am
Quoting Pipradar
{quote} Yaaaaay
Shhhhh...let's just keep it between ourselves!
  • #32,112
  • Aug 2, 2018 3:11am Aug 2, 2018 3:11am
Quoting lemercenaire
The Monster must have been feeling sorry for messing around over the last week, as it set off exactly as expected, complete with the sucker-move long as a WZ move back into the body of the 2-hr block. With the short bias, I was never going to take that (you may have got a half-pip if you'd been uber-quick but that was it) and so I played the scalp on the drop. Some scalp. I ended up up some +20 odd... 10-Min Charts {image} ...and as I moved to close it out, it just moved on farther and ended up closed for double that. That's just about made my month...
Great trade Lem
  • #32,113
  • Aug 2, 2018 3:13am Aug 2, 2018 3:13am
Quoting lemercenaire
{quote} Shhhhh...let's just keep it between ourselves!
In down-time, I have been running a small account and playing with stuff to see how the ESMA law comes into play, deliberately making no allowances for it. It simply kills us. Stone dead. Bullet between the eyes. Counter-trading / hedging is virtually impossible without all sorts of acrobatics and compromises.
  • #32,114
  • Aug 2, 2018 3:39am Aug 2, 2018 3:39am
Movement is dying down but thought I'd squeeze another few out of the morning.

Simple scalp. +10 and-a-bit.

10-Min Chart

Attached Image


That'll do for now.
  • #32,115
  • Aug 2, 2018 4:03am Aug 2, 2018 4:03am
Quoting lemercenaire
{quote} In down-time, I have been running a small account and playing with stuff to see how the ESMA law comes into play, deliberately making no allowances for it. It simply kills us. Stone dead. Bullet between the eyes. Counter-trading / hedging is virtually impossible without all sorts of acrobatics and compromises.
Elsewhere various people have advocated ( to avoid ESMA restrictions) using IC Markets ( Australia ) : https://www.icmarkets.com/en/trading...nge-of-markets

or put more money into your UK spread bet provider ?

Anyway - sun is beating down, which is an excuse, for Mrs T and I, to head off to the coast with friends.
Play nicely whilst I am gone.
Attached Image
every Saint has a past. Every Sinner has a Future
  • #32,116
  • Aug 2, 2018 4:41am Aug 2, 2018 4:41am
Quoting turnip15
{quote} Elsewhere various people have advocated ( to avoid ESMA restrictions) using IC Markets ( Australia ) : https://www.icmarkets.com/en/trading...nge-of-markets or put more money into your UK spread bet provider ? Anyway - sun is beating down, which is an excuse, for Mrs T and I, to head off to the coast with friends. Play nicely whilst I am gone. {image}
Yeah, sorry Mr-T, I wasn't suggesting we here wouldn't know how to deal with this.

I'm fine, doesn't hit me but I wanted to see how it felt working with this on a typical retail trader's small account. It's harsh. For no good reason other than they want retail trading dead.

Anyway, won't get into it, there's a couple of threads (at least) dedicated to it on FF and I already posted my response to an original query earlier, re Oz and elsewhere.

I'm out over lunch - going to look at shiny objects - so may miss The Dead Zone but will be back at some point.

Have fun all.
  • #32,117
  • Aug 2, 2018 5:53am Aug 2, 2018 5:53am
Quoting lemercenaire
{quote} Yeah, sorry Mr-T, I wasn't suggesting we here wouldn't know how to deal with this. I'm fine, doesn't hit me but I wanted to see how it felt working with this on a typical retail trader's small account. It's harsh. For no good reason other than they want retail trading dead. Anyway, won't get into it, there's a couple of threads (at least) dedicated to it on FF and I already posted my response to an original query earlier, re Oz and elsewhere. I'm out over lunch - going to look at shiny objects - so may miss The Dead Zone but will be back...
IG have a loop hole. They just opened a Swiss office (non EU).

200:1 no withdraw/deposit fees on debit card.

Swiss regulated.
  • #32,118
  • Aug 2, 2018 6:16am Aug 2, 2018 6:16am
Quoting claudia1
{quote} IG have a loop hole. They just opened a Swiss office (non EU). 200:1 no withdraw/deposit fees on debit card. Swiss regulated.
I did say they made nice chocolate
  • #32,119
  • Aug 2, 2018 6:25am Aug 2, 2018 6:25am
Quoting lemercenaire
{quote} I did say they made nice chocolate
lol. Did spot that.
  • #32,120
  • Aug 2, 2018 8:20am Aug 2, 2018 8:20am
Good move.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD(£)H4.png Size: 57 KB
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