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Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow

  • #461
  • Jan 31, 2023 7:35am Jan 31, 2023 7:35am
despite the mad volume we can still take out the low so i had to bank that
  • #462
  • Edited 7:56am Jan 31, 2023 7:40am | Edited 7:56am
A bit of an annoying situation

Although my target was wpoc around 1.2380 i just cant trust spikes like this

usually find its better to bank then wait for re-entry

Ultimately it was what, Canadian GDP? But with such a wild move 25 pips is fine

I can buy again below this low if we get there or, sell at 1.2380-82

Next two days are FOMC & BOE rate announcements. Anyone new please try to avoid these days. I will probably do the same. We often have straight line moves that can wipe even the most seasoned traders.
  • #463
  • Jan 31, 2023 7:59am Jan 31, 2023 7:59am
yes today is my last day until the dust settles

im going wait until after 15:00 today to get long

chicago pmi 14.45

consumer confidence 15:00
  • #464
  • Jan 31, 2023 8:23am Jan 31, 2023 8:23am
Quoting mysterio
A bit of an annoying situation Although my target was wpoc around 1.2380 i just cant trust spikes like this usually find its better to bank then wait for re-entry Ultimately it was what, Canadian GDP? But with such a wild move 25 pips is fine I can buy again below this low if we get there or, sell at 1.2380-82 Next two days are FOMC & BOE rate announcements. Anyone new please try to avoid these days. I will probably do the same. We often have straight line moves that can wipe even the most seasoned traders.
yes, that spike from CAD-news was strange...
trading is like dancing, don't think and just listen to the music!
  • #465
  • Jan 31, 2023 8:38am Jan 31, 2023 8:38am
Quoting Coxswain
yes today is my last day until the dust settles im going wait until after 15:00 today to get long chicago pmi 14.45 consumer confidence 15:00
Yes, below NY low i'm looking to buy.

hopefully DXY does one last gasp of air
  • #466
  • Jan 31, 2023 8:42am Jan 31, 2023 8:42am
Quoting birdland
{quote} yes, that spike from CAD-news was strange...
yeah what was that all aboot
  • #467
  • Jan 31, 2023 9:34am Jan 31, 2023 9:34am
Quoting mysterio
{quote}Yes, below NY low i'm looking to buy. hopefully DXY does one last gasp of air
alright enough today

good luck with the rate announcements
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  • #468
  • Jan 31, 2023 9:36am Jan 31, 2023 9:36am
Quoting mysterio
{quote} alright enough today good luck with the rate announcements {image}
you are trading shortterm like PAT!
trading is like dancing, don't think and just listen to the music!
  • #469
  • Feb 1, 2023 12:34am Feb 1, 2023 12:34am
Is anyone going to try and keep this thread going?
If I am right I see this going up to 1.23380 before dropping to at least 1.22850.
Sure would have liked to practice with Mysterio more!
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  • #470
  • Feb 1, 2023 12:42am Feb 1, 2023 12:42am
Quoting dantpm
Is anyone going to try and keep this thread going? If I am right I see this going up to 1.23380 before dropping to at least 1.22850. Sure would have liked to practice with Mysterio more! {image}
My names Geof (pronounced Jeff) you can call me that Mysterio sounds so dumb (like said I came up with this name as a 15 year old in the days of dial up internet )

I'll hop on every now and again

Yeah you're on the right track there, but, you want to wait for a break above and then receive confirmation

Your trading level is either the imbalance from that drop or the untested supply

By the way, that chart is great. Good stuff Dantpm. Please let me know how you get on.

Here's the thing any trader anywhere will have to grasp. Whichever trading method you choose--just pick one that makes sense to you and practice the hell out of it! What I see is a lot of traders fall into the 'random technical analysis trap', apply lots of lines and indicators to their chart, and just start looking for anything that looks for a trade.

This is a surefire way to lose money

I call this way 'discretionary/systematic'. So, you have some systematic way of looking for trades with a ruleset, but you're also using your discretion to scale in and out and filter out the best opportunities
  • #471
  • Feb 1, 2023 12:46am Feb 1, 2023 12:46am
Quoting mysterio
{quote} My names Geof (pronounced Jeff) you can call me that Mysterio sounds so dumb I'll hop on every now and again Yeah you're on the right track there, but, you want to wait for a break above and then receive confirmation Your trading level is either the imbalance from that drop or the untested supply By the way, that chart is great. Good stuff Dantpm.
Thanks Geof!
  • #472
  • Feb 1, 2023 12:50am Feb 1, 2023 12:50am
Oh and today is FOMC. What i'll do today is just place couple of alerts and only take maybe one trade if I perceive it to be 'A grade'

Like yesterday's first short was B/C grade

I came up with a spreadsheet to give setups a 'score' based on various factors

If you want me to share this I can but it's not really been road tested

Basically I found is although it probably has some merit as an idea in the heat of the moment it just never gets used.

Scaling in and out of positions is a good idea (for me)
  • #473
  • Feb 1, 2023 12:53am Feb 1, 2023 12:53am
Quoting mysterio
Oh and today is FOMC. What i'll do today is just place couple of alerts and only take maybe one trade if I perceive it to be 'A grade' Like yesterday's first short was B/C grade I came up with a spreadsheet to give setups a 'score' based on various factors If you want me to share this I can but it's not really been road tested Basically I found is although it probably has some merit as an idea in the heat of the moment it just never gets used.
Happy to test it
  • #474
  • Feb 1, 2023 1:22am Feb 1, 2023 1:22am
Quoting dantpm
{quote} Happy to test it
Can you DM me an email or something ?

I don't want to share it publicly just because it's basically a prototype
  • #475
  • Feb 1, 2023 1:31am Feb 1, 2023 1:31am
Frankfurt m5 swing low is set

its fair game for hunting. However, be aware of asia EQL
  • #476
  • Feb 1, 2023 1:58am Feb 1, 2023 1:58am
easy scalp.
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  • #477
  • Feb 1, 2023 2:00am Feb 1, 2023 2:00am
Just 10 pips banked

Waiting for a short setup
  • #478
  • Feb 1, 2023 2:58am Feb 1, 2023 2:58am
m5 is in compression

wait for LQG up
  • #479
  • Feb 1, 2023 11:47pm Feb 1, 2023 11:47pm
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Attached File(s)
File Type: ex4 fvg.ex4   204 KB | 235 downloads
Attached File(s)
File Type: ex4 PriceActionDetector3.ex4   106 KB | 250 downloads
  • #480
  • Feb 3, 2023 1:11am Feb 3, 2023 1:11am
Quoting kourosh1347
{image}{file}{file}
Morning folks

Last two day pretty wild, not worth getting smashed by the volatility

I notice Rick mentioned stop induced price cascades, I think we saw this yesterday. What I noticed is that price ran down to some limits then limits kept appearing 15 pips under price in the limit order book during the london session

That was a good sign to not fight the down move

Personally I was dead set on a run up above the highs before selling yesterday but, anything interest rate related it's best to steer clear of FX

Unfortunately can't trade until I get clusterdelta up and running, my new bank doesn't allow payments to them bizarrely (even though Ukraine is not a sanctioned country--zero reasons given apart from 'regulations') so i'll maybe just trade the PA and wait for yesterdays low to go before buying
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