Flying Dutchman | Page 194 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Equity millipede & Flying Buddha trading journal 9 replies

Flying buddah pattern 20 replies

Build an Equity Millipede with the filtered Flying Buddha 171 replies

Flying buddha pattern 12 replies

16/10/'07 - Crude oil and Greenback flying in opposite directions. 0 replies

Attachments: Flying Dutchman
Exit Attachments

Flying Dutchman

  • #3,861
  • Oct 16, 2022 8:29pm Oct 16, 2022 8:29pm
Just trying out Asia session. GBP/JPY does move in this session. Mostly after Tokyo Open. Looked fine from what i have learnt here. Nothing is guaranteed but this was just screaming to go to DO/ WO. I am sure that @TimeTells was onto it. I still feel that it will go down further in LON or US session. Have to wait for the price action to show us the way.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 24 KB
  • #3,862
  • Oct 16, 2022 8:57pm Oct 16, 2022 8:57pm
Quoting whitesta
Just trying out Asia session. GBP/JPY does move in this session. Mostly after Tokyo Open. Looked fine from what i have learnt here.
Nothing is guaranteed but this was just screaming to go to DO/ WO. I am sure that @TimeTells was onto it.
I still feel that it will go down further in LON or US session. Have to wait for the price action to show us the way. {image}

Hi W,

Very nice trade, but no, I have not traded this morning yet.

I was having a quick chat on skype and mentioned I was looking for a false(er) break a little higher first into the Q above the RN (or even a tad higher) before the market might come down to fill in the mornings gap.

A sweet 25p you grabbed and is what I do look for lol.

(This business with the BoE propping theirs up should have finished now but the market speculators could do what they want before teasing the BoJ into something).

The 25p scalps (yep I call em scalps) do seem safest until there is a major structure change (one way or the other).

For now, I will eat lol, and be back before the Franky open to see what has happened up to then.
All the best pal.
  • #3,863
  • Oct 16, 2022 9:40pm Oct 16, 2022 9:40pm
Quoting deanyakobs
Look at how fast the price move at demarcation lines areas (you can only experience the speed in real time) must have real knowledge in real time The difference is the cycle length, time and magnitude. in this SPEED of price IN REAL TIME that can not be teach and explain in a book or forum ofc, George Target still keep in mind STIIIIL LEARN
Real time trading is my friend, I left trend. Closed my GA 50 pips already. GY is a little "coarse" to trade, I just scalped in, scalped out, BE is better. But maybe I'll just leave it until I see swift movements.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
The market hides a perfect geometry.
  • #3,864
  • Oct 16, 2022 9:48pm Oct 16, 2022 9:48pm
Quoting FulMargnAlch
{quote} Real time trading is my friend, I left trend. Closed my GA 50 pips already. GY is a little "coarse" to trade, I just scalped in, scalped out, BE is better. But maybe I'll just leave it until I see swift movements. {image}{image}
Closed all positions. Waiting for another no-option trade.
The market hides a perfect geometry.
  • #3,865
  • Oct 16, 2022 11:09pm Oct 16, 2022 11:09pm
Quoting whitesta
Just trying out Asia session. GBP/JPY does move in this session. Mostly after Tokyo Open. Looked fine from what i have learnt here. Nothing is guaranteed but this was just screaming to go to DO/ WO. I am sure that @TimeTells was onto it. I still feel that it will go down further in LON or US session. Have to wait for the price action to show us the way. {image}
Is it ready to go down yet? Iffy conditions will allow it down or stop it higher? Cautious of gbp pairs at the moment. Much happening geopolitically. Is gbp now going gold backed? Hmm hmm.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.aDaily.png Size: 16 KB
  • #3,866
  • Oct 17, 2022 12:30am Oct 17, 2022 12:30am
Could go either way...Price action at different levels may tell the story. I am not a long term trader so 25 pips either way will be ok. Why it goes up or down hmmm, hard one to tell. Its Monday so could be some funny price action.
  • #3,867
  • Oct 17, 2022 2:07am Oct 17, 2022 2:07am
Frankfurt trade. I normally wait for London but this was quite easy to see.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 21 KB
  • #3,868
  • Oct 17, 2022 3:41am Oct 17, 2022 3:41am
Quoting whitesta
Just trying out Asia session. GBP/JPY does move in this session. Mostly after Tokyo Open. Looked fine from what i have learnt here. Nothing is guaranteed but this was just screaming to go to DO/ WO. I am sure that @TimeTells was onto it. I still feel that it will go down further in LON or US session. Have to wait for the price action to show us the way. {image}

Nice break of "M" structure and down to ADR also ?
Great chart.
:-)
every Saint has a past. Every Sinner has a Future
  • #3,869
  • Oct 17, 2022 4:27am Oct 17, 2022 4:27am
Quoting turnip15
{quote} Nice break of "M" structure and down to ADR also ? Great chart. :-)
I traded Dax ok this morning but I would like to show a chart of Cable which I have been experimenting with.
Had I followed my channel break out without considering SB approaches then I would have been whipped about.
Examples: "A" and "B" would be failed shorts. "C" would be okay.
Rectangles are where I think SB double tops/bottoms/pins might have been an alternative addition to the channels.
Normally, channel trading, a failed high AND a failed short would enable me to draw in a rectangle to keep me out of whipping trades but no such opportunity
( That I can see) happened hers.
Comments on my homework welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-10-17_10-21-49_c878e.png Size: 124 KB
every Saint has a past. Every Sinner has a Future
  • #3,870
  • Oct 17, 2022 4:33am Oct 17, 2022 4:33am
Quoting turnip15
{quote} Nice break of "M" structure and down to ADR also ? Great chart. :-)
Yeah, i normally wait for London and maybe give London session an hour or so before i look for setups. Well mostly i see it late but tell myself to be patient. The Frankfurt trade was taken cos somehow i just saw it before which hardly happens. If U look at the end of Asia session, there was the last high which was broken and the RN was also taken out around 15 mins into Frankfurt session. Next candle engulfed it. I was a bit late with my entry as price dove quite fast. I got in near the 1st pullback. My initial target was PDH, PMH, PWH, which were all bunched together but i took the profit a bit early. My ADR (low) was not anywhere near though. Its at 165.22, so quite far away at the moment.
  • #3,871
  • Oct 17, 2022 4:47am Oct 17, 2022 4:47am
Quoting whitesta
{quote} Yeah, i normally wait for London and maybe give London session an hour or so before i look for setups. Well mostly i see it late but tell myself to be patient. The Frankfurt trade was taken cos somehow i just saw it before which hardly happens. If U look at the end of Asia session, there was the last high which was broken and the RN was also taken out around 15 mins into Frankfurt session. Next candle engulfed it. I was a bit late with my entry as price dove quite fast. I got in near the 1st pullback. My initial target was PDH, PMH, PWH,...
Profit is profit though. My problem now is to look at my stop setting -too tight or too wide - so still work in progress.
every Saint has a past. Every Sinner has a Future
  • #3,872
  • Oct 17, 2022 5:00am Oct 17, 2022 5:00am
Thinking about it some more ( says he sharing his biscuits with the dog sitting beside the Pc) you can trade a line break/TA formation set up and make money if ; you stick to a plan and get out when your stop tells you are wrong AND you losses are smaller than your profits. Easy to say but how many people struggle with it.
Laura - in her thread has an exercise to test your resolve to follow your entry and stop plan. many are surprised how difficult it is to keep a loss small or avoid overtrading. I know from past experience.

Laura's trading discipline challenge:
Post 17
https://www.forexfactory.com/thread/...ust-a-journal?
every Saint has a past. Every Sinner has a Future
  • #3,873
  • Oct 17, 2022 6:51am Oct 17, 2022 6:51am
Last trade for the day. Decent 50 odd pips. Too late to trade US open for me. See u all tomorrow.
Trade well.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 22 KB
  • #3,874
  • Oct 17, 2022 5:59pm Oct 17, 2022 5:59pm
Quoting whitesta
Could go either way...Price action at different levels may tell the story.
I am not a long term trader so 25 pips either way will be ok.
Why it goes up or down hmmm, hard one to tell.
Its Monday so could be some funny price action.

Hi W, I will quote this post that might go unnnoticed that holds some excellent thinking in it imo.

Price could always go either way, these are financial markets (that seem to forever operate however to a market mechanics principle),
and the other option of course to price 'going either way' is that it may stay for a period inside a holding pattern that pilots can find themselves in courtesy of the control tower (ie inflection areas in trading).

These 3 options are essentially all a trader will eventually work with. And there is no real need to choose beforehand whether price will go up or down.
As yes PA usually tells us the next chapter in the ongoing story.

But PA can be considered also for the prior chapter as well in the ongoing story, as PA leading into the area where a trader might ask "where is price going now" often provides an early indication.

This could be called the Setup Stage of the Trade Setup that is to follow. If it sounds a little like double dutch as we called it as kids let me offer an example.
  • #3,875
  • Oct 17, 2022 6:15pm Oct 17, 2022 6:15pm
In fact I will let W show the prior story as well on the trade chart he presented in an earlier post

Quoting whitesta
Just trying out Asia session. GBP/JPY does move in this session. Mostly after Tokyo Open. Looked fine from what i have learnt here. Nothing is guaranteed but this was just screaming to go to DO/ WO. I am sure that @TimeTells was onto it. I still feel that it will go down further in LON or US session. Have to wait for the price action to show us the way. {image}

When we look at W's chart from this post above we can see where the trade was initiated (and why) and the leadup to the point where the trade was considered
as 'a trade' is equally important, well in my eyes.

George used to call it the market 'expansions' and these expansions are terrific (imho) when they happen in two directions (BOTH up then down, or vice versa)
rather than just in the one direction (a breakout/grind scenario).

When the market begins to "move" it is a great time then to look for the future market mechanics setups. Price went up on W's chart, then drove down then went up again to the "local" at the time high, then back down to one of W's triggers the BRN, and from there the entry could be placed (at any time, really, not a specific candle imo) afterwards.

These widening price moves George called "The Expansions" and they were important to him.

So the PA that was PRIOR to W's (excellent) trade on his chart above is what I call the "Setup Stage of the Trade Setup" - that is to follow.

Just some food for thought after an excellent days market mechanics yesterday.

(there is no handbook sorry for this phrase market mechanics, it is merely what the market does repetitively, but not precisly the same each time that defines it,
and the best I can say is once a trader sees it, the 'mechanics', they cannot then stop seeing it in the future, in fact it might be all they see after that -
cryptic sorry yes, but possible to see it on our charts, yes also)

all the best traders
  • #3,876
  • Oct 17, 2022 7:06pm Oct 17, 2022 7:06pm
Two quick chart pic views from this current (ie NOW) GJ pair

On the 1min we can see these mini-expansions (market is testing the waters).

Each 'expansion' takes out the previous Hi-Lo

All rotating around, early in the asia session, the Day Open.

On the 2nd chart, the 5min chart we really do not see expansions, we (well me, lol) just see Inflections leading to an imminent breakout at some point.

These are also inside the term market mechanics and they happen each day, repetitively, just NOT precisely the same metrics.

These charts are exactly the same pair at exactly the same time, viewed fractally
(when trading from the 1min chart I might look at the 1hr chart direction compared to the 1dy chart direction also)

.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYM1 small expansions.png Size: 9 KB
Click to Enlarge Name: GBPJPYM5 inflection.png Size: 8 KB
  • #3,877
  • Oct 17, 2022 8:30pm Oct 17, 2022 8:30pm
The Asia morning and its market mechanics are over for me at this point thank you.
Back again the hour before Franky to check what has happned in between (no FOMO) and will see what London will bring to the table.
Trade well, trade safe
  • #3,878
  • Oct 17, 2022 9:17pm Oct 17, 2022 9:17pm
Quoting TimeTells
Two quick chart pic views from this current (ie NOW) GJ pair On the 1min we can see these mini-expansions (market is testing the waters). Each 'expansion' takes out the previous Hi-Lo All rotating around, early in the asia session, the Day Open. On the 2nd chart, the 5min chart we really do not see expansions, we (well me, lol) just see Inflections leading to an imminent breakout at some point. These are also inside the term market mechanics and they happen each day, repetitively, just NOT precisely the same metrics. These charts are exactly the...
Hi TimeTells,
Yes there are these inflection zones everyday on different pairs. Visible in different time frames. For me its hard to identify which side the breakout will occur. At times it goes one way then reverses and other times it just continues. Have to put in more effort to trade those. I agree its all infront of us but we mostly don't see it...lol
  • #3,879
  • Oct 17, 2022 9:56pm Oct 17, 2022 9:56pm
Quoting whitesta
{quote}
Hi TimeTells, Yes there are these inflection zones everyday on different pairs. Visible in different time frames.
For me its hard to identify which side the breakout will occur.
At times it goes one way then reverses and other times it just continues.
Have to put in more effort to trade those. I agree its all infront of us but we mostly don't see it...lol

Hi Whitesta,

Mate when you find out pls let me know
Then I will be posting from a secluded beach, maybe down mehico way with Kev, drinking beer during the days & tequilas at night
It's all a risk management thing - and waiting patiently - with me now with inflections, and I make mistakes believe me, but no mistake today ).

In the meantime my job as I see it is only to understand what the mechanics are showing in-play. That and some music will do me.

Now I do often get in 10 pips too late but in a 50 pip move that doesn't bother me much anymore - the Pareto guys' principle suits me fine 80/20.
(and there's always another trade up ahead as the market has to do what it always does imo - so no fomo)

Once in motion (on an even day) market mechanics must complete their mission as I see it, with the usual pullbacks in between,
to try and shake out those who are trading IN direction and/or encourage new traders to enter in the opposite direction,
which is just another Market Mechanic that I see them do.

Take what we can and be pleased. Why not.

Want to TP more?

Well unless we can come up with something greater than what we each now see & trade, then we would likely need to increase our a/c balance & then increase
our lot size accordingly for the "same" trade pip result but a higher $$ takeout amount.

We best be pleased with what we can get imho, but I am older & more risk sensitive these days.
In my 40's I would have shaken things up a little more maybe lol.
(Kev has shown Trader Tom's stuff, wild trading, too rich for me lol, but fun to watch).

Other than that, inflection is a breakout imminent
That might be enough to start with as we watch the PA subsequently
(also we can never know of an upcoming whipsaw as the market brings in occasionally and needs to do that imho,
if there are too many traders in the 'right' direction - maybe, who really knows lol).

All the best
  • #3,880
  • Oct 17, 2022 11:00pm Oct 17, 2022 11:00pm
Quoting TimeTells
{quote} Hi Whitesta, Mate when you find out pls let me know Then I will be posting from a secluded beach, maybe down mehico way with Kev, drinking beer during the days & tequilas at night It's all a risk management thing - and waiting patiently - with me now with inflections, and I make mistakes believe me, but no mistake today ). In the meantime my job as I see it is only to understand what the mechanics are showing in-play. That and some music will do me. Now I do often get in 10 pips too late but...
The beach and Tequila sound good...lol..Yes no one knows which way the breakout will go. I was just having a go with GBPJPY a while ago and lucky had my stops set and got out with a very small profit. I was 99% sure where the price was heading and was sure to hit minimum 30 pips. Well didn't really consider a big pullback. Was around 20 pips and i had to get out. Wasn't expecting it but price never moves in a line..lol. My analysis was ok i guess but u can't win em all.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 19 KB
26 traders viewing now