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Up and under price pattern

  • #3,441
  • Nov 17, 2020 2:30am Nov 17, 2020 2:30am
what will you do at this location?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,442
  • Nov 17, 2020 3:00am Nov 17, 2020 3:00am
Quoting Inthebox
what will you do at this location? {image}
half an hour already. no need for reply. the answer is pretty obvious by now.

now i want to ask how would you do your entry?
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,443
  • Nov 17, 2020 5:11am Nov 17, 2020 5:11am
Quoting Inthebox
{quote} half an hour already. no need for reply. the answer is pretty obvious by now. now i want to ask how would you do your entry?
lack of participants means that going forward i shall only do 1 post a day or even not any.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,444
  • Nov 17, 2020 5:15am Nov 17, 2020 5:15am
Quoting Inthebox
{quote} half an hour already. no need for reply. the answer is pretty obvious by now. now i want to ask how would you do your entry?
actually I am not aware of this level. The QM expired by my rules. I would wait and see if price goes up to the bearish QM at ~1.81860

Side note. Today another win on GJ. Played extra safe SL so only 0.9R. 15min scalp win
Only 2 days already 4.4R. May end this week early

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  • #3,445
  • Nov 17, 2020 5:21am Nov 17, 2020 5:21am
Quoting Inthebox
what will you do at this location? {image}
These are the two areas i would have planned a sell from. https://www.tradingview.com/x/43qDWyTO/
However, I didn't spot a QM in M5/M15 inside these higher timeframe zones. Hence, no trade for me.
  • #3,446
  • Nov 17, 2020 5:25am Nov 17, 2020 5:25am
Quoting tommydoginti
{quote} actually I am not aware of this level. The QM expired by my rules. I would wait and see if price goes up to the bearish QM at ~1.81860 Side note. Today another win on GJ. Played extra safe SL so only 0.9R. 15min scalp win Only 2 days already 4.4R. May end this week early {image}
this method suits you, making money out of consolidation.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,447
  • Nov 17, 2020 5:26am Nov 17, 2020 5:26am
I inferred from internet content that QM traders should refer to the left when trading QM zone. However, they did not explain what they mean by that. Are they saying to confirm availability of a supply/demand zone before considering it as a QM zone?
  • #3,448
  • Nov 17, 2020 5:29am Nov 17, 2020 5:29am
Quoting rmchokku
{quote} These are the two areas i would have planned a sell from. https://www.tradingview.com/x/43qDWyTO/ However, I didn't spot a QM in M5/M15 inside these higher timeframe zones. Hence, no trade for me.
i spotted one in m5 for 35 pips. will show at end of day.
going for dinner.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,449
  • Nov 17, 2020 5:42am Nov 17, 2020 5:42am
I took a sell in this QM zone in Daily but got squared off end of day, https://www.tradingview.com/x/lp6ypg7V/. Please let me know your thoughts on this trade setup.

Moreover, this is also a Bearish QM zone in Weekly. The previous swing low in Weekly is broken by a wick. Do you expect it to be engulfed with a strong candle for a bearish QM? https://www.tradingview.com/x/E9zBAGua/
  • #3,450
  • Nov 17, 2020 7:39am Nov 17, 2020 7:39am
Quoting rmchokku
I inferred from internet content that QM traders should refer to the left when trading QM zone. However, they did not explain what they mean by that. Are they saying to confirm availability of a supply/demand zone before considering it as a QM zone?
it may mean looking left for trend.
SD trader will look for zone in higher time frame.
SR trader will look for zone in higher time frame.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,451
  • Nov 17, 2020 7:57am Nov 17, 2020 7:57am
Quoting rmchokku
I took a sell in this QM zone in Daily but got squared off end of day, https://www.tradingview.com/x/lp6ypg7V/. Please let me know your thoughts on this trade setup. Moreover, this is also a Bearish QM zone in Weekly. The previous swing low in Weekly is broken by a wick. Do you expect it to be engulfed with a strong candle for a bearish QM? https://www.tradingview.com/x/E9zBAGua/
qm is engulfed by wicks.
if i am using d1 as my trading chart, my SL would be not less than 50 pips.
the SL would be above the top peak.
if i cannot handle 50 pips SL, i would switch to h4 qm entry for smaller SL.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,452
  • Nov 17, 2020 8:51am Nov 17, 2020 8:51am
Quoting Inthebox
what will you do at this location? {image}
h1 resistance zone with m5 qm.
london session.
qm trader has only 1 sell.
breakout trader has 1 sell, 3 buys.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,453
  • Nov 17, 2020 9:03am Nov 17, 2020 9:03am
Quoting Inthebox
{quote} h1 resistance zone with m5 qm. london session. qm trader has only 1 sell. breakout trader has 1 sell, 3 buys. {image}
I THINK AUD IS SHOWING SOME WEAKNESS SO IT WILL go up but 1st it need stay above supply zone and if cp or trend line break and test than we will search sell opportunity as scalp.
Say something meaningful or Silence!!
  • #3,454
  • Nov 17, 2020 9:06am Nov 17, 2020 9:06am
UCad in the evening.

Orange: lost
purple: missed the QM, supposed a 1.6R win in 1 hr
blue: waiting to buy

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  • #3,455
  • Nov 17, 2020 9:17am Nov 17, 2020 9:17am
Quoting classy
{quote} I THINK AUD IS SHOWING SOME WEAKNESS SO IT WILL go up but 1st it need stay above supply zone and if cp or trend line break and test than we will search sell opportunity as scalp.
madash already shown gbp strongest and aud weakest.
that's why breakout trader has a field day buying.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,456
  • Nov 17, 2020 9:17am Nov 17, 2020 9:17am
Quoting Inthebox
{quote} qm is engulfed by wicks. if i am using d1 as my trading chart, my SL would be not less than 50 pips. the SL would be above the top peak. if i cannot handle 50 pips SL, i would switch to h4 qm entry for smaller SL.
Thanks for your feedback. I assume the setup is ok then. The trading chart is D1 and the SL is kept @ 492. However, shortsell in equities is allowed only on intraday basis and position got closed with little loss.
  • #3,457
  • Edited 9:40am Nov 17, 2020 9:29am | Edited 9:40am
Quoting rmchokku
{quote} Thanks for your feedback. I assume the setup is ok then. The trading chart is D1 and the SL is kept @ 492. However, shortsell in equities is allowed only on intraday basis and position got closed with little loss.
you are using d1 as trading chart. d1 entry is for swing and position traders.
if i am one i would keep the SL, and let market run its course.
if i am an intraday trader, i would use m5/15/30/60 as trading entry chart.
i don't understand.
are you a swing or short term intraday trader?
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,458
  • Nov 17, 2020 9:31am Nov 17, 2020 9:31am
Quoting tommydoginti
UCad in the evening. Orange: lost purple: missed the QM, supposed a 1.6R win in 1 hr blue: waiting to buy {image}
if only we have used h1 demand and supply zone for today, m15 qm would be much easier.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,459
  • Nov 17, 2020 9:39am Nov 17, 2020 9:39am
Quoting Inthebox
{quote} you are using d1 as trading chart. d1 entry is for swing and position traders. if i am one i would keep the SL, and let market run its course. i don't understand. are you a swing or short term intraday trader?
You're right, the timeframe is larger and not suited for intraday trader but i couldn't resist a short after seeing it in Daily!
  • #3,460
  • Nov 17, 2020 9:43am Nov 17, 2020 9:43am
Quoting rmchokku
{quote} You're right, the timeframe is larger and not suited for intraday trader but i couldn't resist a short after seeing it in Daily!
i have updated my previous post. go back to read time frames for intraday trader.
ITB - Seeing Orderliness amongst 'Randomness'
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