Be careful what you think because your thoughts run your life..Solomon
Trading Institutional Order Flow
- #8,782
- Edited 7:06am Aug 25, 2020 6:53am | Edited 7:06am
{quote} Hey Joe thanks for sharing your trade ideas. Could you please post a Top Down Analysis of your trades so we can follow your thought process and get a better idea of the context of the trade? Id really like to get a deeper insight on how you arrive at these ideas man.
I trade currencies in pairs. USD with EURUSD and GBPUSD base, strength/weakness with EURGBP (example). helps me push my trades in my favour.
starting with dollar, bottom right, we at a HTF Demand (blue lines) which has been consumed already by the previous low possibly. at least some of it. i personally have a higher target but thats me second guessing the markets. supply in progress and would take a huge amount of buyers to move the dollar where i want it to go.
weekly CAD.
1. price momentum is down, so we are looking for a short. 1.3245 or 1.3290 lower risk higher reward.
daily
2. price can go down on either a level here (engulfing) which is more likely , or a level higher up at 3
3. find supply somewhere in this move down (non engulfing). lower risk short, less probable but higher chance of trade working out.
4h
4. short term supply somewhere here 132.45. go onto LTF to find it. price has reacted to this level already. I didnt take the short as it wasn't clear for me and missed it. would have missed my entry anyway.
5. this hole move down is a nice place to look for a short somewhere, and clearer to see. personally i think 1.3290 or there about.
1h
6. we hit supply (not shown, 4h. on 4, reread) but Demand is here so start looking from this area. counter trend setup
15 min
7. find a demand to long it for a scalp to the up side, tight stop. counter trend setup.
5min
8 & 9. Demand zones to long it to maybe hit a higher supply. keep tight stop but take into account this is a counter trend trade, not in your favour price is engulfing south.
their was a supply (1.3245) level but i didn't really see it and couldn't take it.
the only thing that i do, and people should do is get in as soon as price hits a level. what we are doing is trading the bounces between the levels. like a ping pong bounces on the bat is a trade. when it hits the other bat its another trade. the question is are you good enough to play ping pong. not everyone is. it takes a good eye and hand coordination to hit the ball where you want it. i play ping pong, and some people shouldnt play lol. others are better. its like ping pong, it takes time to get good during which you get frustrated and inpatient, which will cause you to lose. and if you are betting you can lose alot of money.
normally the best trades to take are levels that are hard to spot or not clear. they tend to move the furthest, and we are left taking the retail trades only
Indicators only Indicate, Price action dictates.
{quote} hey, ummm ok sure, but its similar to how other people make their levels. I have chart time in my favour, so i know what to look for. but here's an example of my charts. I trade currencies in pairs. USD with EURUSD and GBPUSD base, strength/weakness with EURGBP (example). helps me push my trades in my favour. starting with dollar, bottom right, we at a HTF Demand (blue lines) which has been consumed already by the previous low possibly. at least some of it. i personally have a higher target but thats me second guessing the markets. supply...
Wow! Now thats a process right there... Thanks for the insight man.. i think i'm going to have to step my ping-pong game up
- #8,787
- Aug 25, 2020 1:03pm Aug 25, 2020 1:03pm
{quote} Wow! Now thats a process right there... Thanks for the insight man.. i think i'm going to have to step my ping-pong game up
here another good example.
this is 4h chart. there's a big fat blue candle, and its next to a previous demand. you need to ask your self if there are any buyers within this blue candle. after all, it took alot of buyers to push price up like that. so there has to be some buyers left over somewhere here. wouldn't you think so?
I go down onto a 5 min chart and see a nice demand level right near the bottom of this move up
Indicators only Indicate, Price action dictates.
- #8,792
- Aug 26, 2020 7:13am Aug 26, 2020 7:13am
{quote} looking back at my levels, they seem to over shoot and undershoot S/D levels. take into consideration not leaving your stops so close, or not being so fussy at entering a level as it might not hit it to the point which is frustrating. but that's trading for you. {image} {image}
If it moves down into level fast with out retracing, you know its a good level. if its retracing like its doing, its prob gonna break, and this would be a scalp trade unfortunately
Indicators only Indicate, Price action dictates.
- #8,797
- Aug 26, 2020 3:33pm Aug 26, 2020 3:33pm
Hi Joe and Everybody.
I got a similar setup on the 4H on USD/CAD. Actually, these are some pairs that I watching for tomorrow. My TF is 4H, 1H and 15m.
I just missed a trade on EURCAD
EURCAD missed trade but still watching.
Watching GBPUSD
Watching USDCAD
I got a similar setup on the 4H on USD/CAD. Actually, these are some pairs that I watching for tomorrow. My TF is 4H, 1H and 15m.
I just missed a trade on EURCAD
EURCAD missed trade but still watching.
Watching GBPUSD
Watching USDCAD