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

  • #481
  • Feb 3, 2023 2:47am Feb 3, 2023 2:47am
Wait-- its NFP day also. with all the FOMC/BoE excitement I totally forgot !

Another one for the avoid bucket

Monday it is.
  • #482
  • Feb 3, 2023 4:26am Feb 3, 2023 4:26am
Quoting mysterio
Wait-- its NFP day also. with all the FOMC/BoE excitement I totally forgot ! Another one for the avoid bucket Monday it is.
Today is a good time to take good profits during the NFP news
I am impatiently waiting for the news.
Like this chart
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  • #483
  • Feb 3, 2023 8:46am Feb 3, 2023 8:46am
Attached Image (click to enlarge)
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  • #484
  • Feb 4, 2023 7:53am Feb 4, 2023 7:53am
Quoting kourosh1347
{quote} Today is a good time to take good profits during the NFP news I am impatiently waiting for the news. Like this chart {image}
I dont hold positions overnight. More like 5-15 minutes.

Anyway, looking forward to next week
  • #485
  • Feb 4, 2023 10:31am Feb 4, 2023 10:31am
I hope this scenario comes true.
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  • #486
  • Feb 4, 2023 7:07pm Feb 4, 2023 7:07pm
Hi everyone!
Something like this going to happen w/ 1.2245 slippage?
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Also W VAL @1.227, it's a huge gap...
WPOC 1.233
Can be interpreted as strong momentum though... anyway, long entries worth looking for
Air force
  • #487
  • Edited 1:45am Feb 5, 2023 1:28am | Edited 1:45am
Hi Mysterio, I've been following your thread. Nice work!
May I ask why you sit out days of potentially high volatility such as Fed's Fomc rate etc/Boe rate etc/NFP? I would have thought good volatility and momentum are the 'nirvana' for us as traders,? so it seems somewhat counter intuitive, and that you are missing good trading opportunities? Certainly re my own edge, it thrives in these conditions, but of course all edges are different and all traders are different. Just interested. Thanks.
Trader with an Edge.
  • #488
  • Feb 5, 2023 1:33am Feb 5, 2023 1:33am
Quoting kourosh1347
{image}
What software is this?
  • #489
  • Feb 5, 2023 4:11am Feb 5, 2023 4:11am
Quoting tiborf71
I hope this scenario comes true. {image}
Attached Image (click to enlarge)
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  • #490
  • Feb 5, 2023 4:54am Feb 5, 2023 4:54am
Quoting Doubleclick3
{quote} What software is this?
Follow his thread, he wrote the software, updates it and provides it in his posts.
  • #491
  • Feb 5, 2023 6:24pm Feb 5, 2023 6:24pm
Quoting kourosh1347
{image}{file}{file}
not very clear for me how to use the priceactiondetector3 for it full potential, sometime I enter at demand for few candle later price demand and going lower...do you have a videos or material teaching how to use this indicator pls?
  • #492
  • Feb 6, 2023 1:56am Feb 6, 2023 1:56am
Quoting Headland
Hi Mysterio, I've been following your thread. Nice work! May I ask why you sit out days of potentially high volatility such as Fed's Fomc rate etc/Boe rate etc/NFP? I would have thought good volatility and momentum are the 'nirvana' for us as traders,? so it seems somewhat counter intuitive, and that you are missing good trading opportunities? Certainly re my own edge, it thrives in these conditions, but of course all edges are different and all traders are different. Just interested. Thanks.
I think it's psychological mate-- I've seen a lot of traders get utterly wiped on these weeks (in discord groups), the volatility expands a lot compared to the preceding days so I find it difficult to switch gears.

So yeah, of course, one mans trash is another's treasure as is often true

The other Red news events I don't mind as much. actually I was short for the JOLTS release but, closed for a mere 5 pips despite targeting a full 50 so I think it is purely in my mind. In that case i was holding for 30 mins or so and just talked myself out of it. 5 mins later it started dropping to target.

And I did actually put in a buy about 30 mins after the FOMC release (after it swept the hourly EQL), which was almost perfectly timed but I just didn't have the courage of my convictions to hold

You have much more real world experience (pro and retail) trading, I think it's just something I need to work up to as a relative newbie

Do you remember having similar insecurities in your early years or were you always fine with the interest rate releases?https://cdn.discordapp.com/attachmen...7770/image.png

I've wiped more accounts than I care to admit in the past so I'd rather just engage 'when the coast is clear'. That said if I can master such weeks I'll be in really good shape.
  • #493
  • Feb 6, 2023 2:02am Feb 6, 2023 2:02am
Quoting W0lfram
Hi everyone! Something like this going to happen w/ 1.2245 slippage?{image}{image}Also W VAL @1.227, it's a huge gap... WPOC 1.233 Can be interpreted as strong momentum though... anyway, long entries worth looking for
I'm targeting 1.2135 Friday's POC

Looking to buy as low as possible. Ideally around 1.2025 if we get there.

scalped about 20 pips down then up today.
  • #494
  • Edited 2:32am Feb 6, 2023 2:20am | Edited 2:32am
Quoting mysterio
{quote} I think it's psychological mate-- I've seen a lot of traders get utterly wiped on these weeks (in discord groups), the volatility expands a lot compared to the preceding days so I find it difficult to switch gears. So yeah, of course, one mans trash is another's treasure as is often true The other Red news events I don't mind as much. actually I was short for the JOLTS release but, closed for a mere 5 pips despite targeting a full 50 so I think it is purely in my mind. In that case i was holding for 30 mins or so and just talked myself out...
Hi. Yeh, I get what you are saying. Re my own experience - when I worked on the effective 'prop' side of the bank, and then hedge fund, we used to do all kinds of things on these big data releases. (Hero or Zero - but it was the 'wild west' back then!) We used to 'straddle,' or even short futures, long cash and close out the wrong one, etc.... In those days on NFP for example - it could move 300pips in a heartbeat, - it's not the mover it was these days (generally.) Of course we got the data sooner than retail, so had an advantage in that respect. Re trading own account (ie now retail) I'm more conservative/risk averse- the data release plays I look for are;

a. 1st reaction - ie get involved in the momentum if 1st 1min candle is a thrust close and only if the data which is known by end of 1min is deviated from prev mth/forecasts...particularly if the 1st 1min thrust candle (big, and little or no wicks) is a b/o of something on the next higher t/f.
b. Buy 1st lo/sell 1st hi (ie there is mostly always a pullback after the initial momentum reaction - again timed on a 1min - generally and o/b or o/s play.
c. Sell/Buy 1st pullback - This a 1min+ play depending on strength of pullback - looking for p/back to potential sbr/bs on the next higher t/f.
Trader with an Edge.
  • #495
  • Feb 6, 2023 2:40am Feb 6, 2023 2:40am
Quoting mysterio
{quote} I'm targeting 1.2135 Friday's POC Looking to buy as low as possible. Ideally around 1.2025 if we get there. scalped about 20 pips down then up today.
https://cdn.discordapp.com/attachmen...0122/image.png
scalped some from this low

It may make another swipe down, KL here is daily open
  • #496
  • Feb 6, 2023 2:48am Feb 6, 2023 2:48am
Quoting Headland
{quote} Hi. Yeh, I get what you are saying. Re my own experience - when I worked on the effective 'prop' side of the bank, and then hedge fund, we used to do all kinds of things on these big data releases. (Hero or Zero - but it was the 'wild west' back then!) We used to 'straddle,' or even short futures, long cash and close out the wrong one, etc.... In those days on NFP for example - it could move 300pips in a heartbeat, - it's not the mover it was these days (generally.) Of course we got the data sooner than retail, so had an advantage in that...
bookmap showed a very clear entry for the FOMC releases. the limits were building up under the low from the early buyers. so I just waited for those to be snatched then entered.
  • #497
  • Feb 6, 2023 5:12am Feb 6, 2023 5:12am
Morning

im seeing a 4 hour value gap 6th jan to be fiiled approx 1.1934 before going back up

Coxswain
  • #498
  • Edited Feb 7, 2023 1:35am Feb 6, 2023 2:47pm | Edited Feb 7, 2023 1:35am
Quoting mysterio
{quote} I'm targeting 1.2135 Friday's POC Looking to buy as low as possible. Ideally around 1.2025 if we get there. scalped about 20 pips down then up today.
How did you come up with the 1.2025 target today (Feb 06)?
  • #499
  • Feb 7, 2023 6:30am Feb 7, 2023 6:30am
sorry for the latepost but i've taken a swing entry at 1.1979

target at 1.2130

stops should be below 1.1950. size appropriately. i never usually hold this long so is an experiment.

Reason, there is a high volume area on dxy and GU that may be re-tested (fridays POC)
  • #500
  • Feb 7, 2023 6:32am Feb 7, 2023 6:32am
Quoting dantpm
{quote} How did you come up with the 1.2025 target today (Feb 06)?
honestly cant remember. below a key level i forget which one- should have been able to get 50 pips out of that one

yesterday was just expanding triangle play, happens when a roughly equal amount of buyers and sellers place breakout limit orders, each are swept, then they do the same again in the expanded range. This is a goldmine for this style.

today the plunge down at 6.30 caught me off guard but was totally logical, we tested the weekly high volume area then took out the liquidity below yesterdays low
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