Islander and Medici trade the European open | Page 297 | Forex Factory

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Islander and Medici trade the European open

  • #5,921
  • May 21, 2020 12:44am May 21, 2020 12:44am
Exited +40 after confluence ~the 11,135 M SS
Trading Levels with WRBs
  • #5,922
  • May 25, 2020 2:38am May 25, 2020 2:38am
With UK & US on holiday, looks like some SM traders have been busy. Great XO sell down to that big confluence of levels with the low at 7:32 on good volume. Aggressive buyers stepped in and again later as the Dow pushed up hard above last weeks H with Dax following in a climax move up to its 11,300 BRN
Attached Image (click to enlarge)
Click to Enlarge Name: may25 dax m1 0928.png Size: 42 KB
Trading Levels with WRBs
  • #5,923
  • Jun 9, 2020 3:44am Jun 9, 2020 3:44am
Finally we've had a decent sell off after new highs for the moves in Dax and US Indices.

There was a clear Head and Shoulders around the Extra Open - aka Frankfurt Open which was followed by a Lower High at XO (cash opn) then Dax crashed thru level after level falling 260+ pts before an attempted rally which also failed. This was followed by a 225 pts fall down to the confluence of S3 & the 12,500 BRN where we can see a high volumed bullish harami which gave a 125pts bounce.

Now we wait for the US Traders to wake up and their SM to tell us IF this was a big shakeout or the start of a larger fall. TWT
Attached Image (click to enlarge)
Click to Enlarge Name: jne9 dax m1 1033.png Size: 45 KB
Trading Levels with WRBs
  • #5,924
  • Jun 9, 2020 6:23am Jun 9, 2020 6:23am
Waiting for the NY Open. First Retrace Target is the confluence around YestD L & 38.2% Note Dow has already reached its 38:2% retrace
Attached Image (click to enlarge)
Click to Enlarge Name: jne9 dax m5 1321.png Size: 29 KB
Trading Levels with WRBs
  • #5,925
  • Jun 9, 2020 6:48am Jun 9, 2020 6:48am
Dax is still ranging, trading Dow & Nas
Trading Levels with WRBs
  • #5,926
  • Jun 11, 2020 1:31am Jun 11, 2020 1:31am
Yesterday after the FOMC report Nas made another new ATH, but both Dax and Dow failed to reach Tuesday's highs.

We've been selling since XO, then a couple of buys, now flat and waiting

Chart for the bigger picture
Attached Image (click to enlarge)
Click to Enlarge Name: jne11 dax m60 mkt prof.png Size: 93 KB
Trading Levels with WRBs
  • #5,927
  • Jun 11, 2020 1:43am Jun 11, 2020 1:43am
The best sells were in mid Frankies Hour with a fast fall after XO. A couple of small buys and now short again after 2nd failure at that fractal
Attached Image (click to enlarge)
Click to Enlarge Name: jne11 dax m1 0843.png Size: 42 KB
Trading Levels with WRBs
  • #5,928
  • Jun 11, 2020 1:54am Jun 11, 2020 1:54am
Quoting Islander
The best sells were in mid Frankies Hour with a fast fall after XO. A couple of small buys and now short again after 2nd failure at that fractal {image}
+50 at low fractal
Trading Levels with WRBs
  • #5,929
  • Jun 11, 2020 2:02am Jun 11, 2020 2:02am
Finished for this morning
Attached Image (click to enlarge)
Click to Enlarge Name: jne11 dax m1 0900.png Size: 44 KB
Trading Levels with WRBs
  • #5,930
  • Jun 11, 2020 2:07am Jun 11, 2020 2:07am
Love your work Jono.
  • #5,931
  • Jun 11, 2020 3:54am Jun 11, 2020 3:54am
Quoting handy148
Love your work Jono.
Thanks Handy - the charts make it look easy, but we know that trading off the right of the screen in real time is rather hard!

Waiting to see a Higher Low or Lower High on m 1 or s 20 is the easiest
Trading Levels with WRBs
  • #5,932
  • Jul 11, 2020 2:00am Jul 11, 2020 2:00am
In another thread, I was asked about the Envelopes plotted on this chart. Here's my reply:
Trading Levels with WRBs
  • #5,933
  • Jul 11, 2020 2:01am Jul 11, 2020 2:01am
In another thread, I was asked about the Envelopes plotted on this chart. Here's my reply:

"Its just an Envelope, here set as 0.4% away from the 50 LWMA - the thicker, central line - which I use as a reminder for the very short term trend. Remember that Price always returns to a Moving Average, so its main use is for pull backs in a trend.

The Envelope is another guide, suggesting that Price has moved well away from the LWMA and thus is getting over extended. As with a Keltner Channel, the % away from the LWMA may be reset according to the current volatility.

The Price Action, its Aggression and Volatility around "levels" is far more important and that is what triggers my entries and exits.

As I also watch the US Indices, the LWMA & Envelopes help when comparing their relative moves"

PS: the Green and Red arrows were highlighting potential Higher Lows & Lower Highs as potential entries. KISS trading
Attached Image (click to enlarge)
Click to Enlarge Name: jly10 dax m1 0815.png Size: 42 KB
Trading Levels with WRBs
  • #5,934
  • Jul 13, 2020 2:50am Jul 13, 2020 2:50am
GM - New ATH in NAS pulled other indices up during early trading with Dax up to its MR 2 area before it retraced to ~its 38:2% retrace of its range from Friday's Low. Nas only retraced ~ 18%, S&P ~21%.

As long as the Higher Low at 9:00 GMT holds we can expect higher prices towards the BRN and possibly the MR 2 area.

Note that on my hourly chart, there is the 1.618 Fib Expansion at 10,882 cash, which is the area of this morning's low....
Attached Image (click to enlarge)
Click to Enlarge Name: jly13 dx m1 0942.png Size: 44 KB
Trading Levels with WRBs
  • #5,935
  • Jul 13, 2020 3:19am Jul 13, 2020 3:19am
Quoting Islander
GM - New ATH in NAS pulled other indices up during early trading with Dax up to its MR 2 area before it retraced to ~its 38:2% retrace of its range from Friday's Low. Nas only retraced ~ 18%, S&P ~21%. As long as the Higher Low at 9:00 GMT holds we can expect higher prices towards the BRN and possibly the MR 2 area. Note that on my hourly chart, there is the 1.618 Fib Expansion at 10,882 cash, which is the area of this morning's low.... {image}
Thanks Islander, I have only 1 small long position in place but I have an ambitious target.
Your analysis confirm there is a potential room on the upside.
I call upon my father's spirit , watching over me
  • #5,936
  • Edited 7:14am Jul 13, 2020 7:02am | Edited 7:14am
After an hour and forty five minutes of sideways action, at 10:51 gmt Dax broke up in an aggressive WRB and carried on towards the BRN at 12,800, holding at a 61.8% retrace of its earlier fall, 3 pts under the BRN. A big hint that lower prices would follow.

Now, half an hour into the main US Session, Nas has already made another new ATH, 46 pts above its earlier high and above its important 11,000 level

Dax was sold by US Traders and has just made a spike lower under is ranging area......
Attached Image (click to enlarge)
Click to Enlarge Name: jly13 dax m5 1400.png Size: 38 KB
Trading Levels with WRBs
  • #5,937
  • Jul 13, 2020 12:40pm Jul 13, 2020 12:40pm
Quoting Islander
After an hour and forty five minutes of sideways action, at 10:51 gmt Dax broke up in an aggressive WRB and carried on towards the BRN at 12,800, holding at a 61.8% retrace of its earlier fall, 3 pts under the BRN. A big hint that lower prices would follow. Now, half an hour into the main US Session, Nas has already made another new ATH, 46 pts above its earlier high and above its important 11,000 level Dax was sold by US Traders and has just made a spike lower under is ranging area...... {image}

EXCELLENT ANALAYSIS
  • #5,938
  • Jul 13, 2020 5:08pm Jul 13, 2020 5:08pm
Hi Islander. I follow your posts for a long time trying to understand the way you trade because you make it seem so simple. I have a question if you don't mind. You'd marked a HL on this chart. Why aren't the HLs that I marked (blue arrows) valid? Does is have to do with the levels they are at?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Inkedjly13 dx m1 0942_LI.jpg Size: 1.0 MB
  • #5,939
  • Jul 14, 2020 2:36am Jul 14, 2020 2:36am
Well the last hour of yesterday's US Session was something to save for our records - especially the Nas chart which I was trading

Unsurprisingly, the Asian session was flat not far from yesterday's close.

This morning since XO we've seen classic action for those of us that read the PA via candlesticks, activity and volatility around levels

I'm looking forward to the US Session.......
Attached Image (click to enlarge)
Click to Enlarge Name: jly14 dax m1 0926.png Size: 46 KB
Trading Levels with WRBs
  • #5,940
  • Jul 14, 2020 2:38am Jul 14, 2020 2:38am
Quoting bettervolume
{quote} EXCELLENT ANALAYSIS

Thanks BV
Trading Levels with WRBs
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