Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow | Page 31 | Forex Factory

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

  • #601
  • Feb 13, 2023 10:20am Feb 13, 2023 10:20am
Quoting birdland
{quote} i think it overshoot... 1.2100 is on h4 an important level {image}
Seeing the range as 1.19 to 1.2450 now. Zooming out it looks like a revisit to 1.2450 is incoming (in weeks not days) . An old bad habit is creeping in. TPing too quickly and immediately looking to fade the direction instead of letting the ADR play out. Should be an easy enough fix.
  • #602
  • Feb 13, 2023 10:28am Feb 13, 2023 10:28am
Quoting mysterio
{quote} Seeing the range as 1.19 to 1.2450 now. Zooming out it looks like a revisit to 1.2450 is incoming (in weeks not days) . An old bad habit is creeping in. TPing too quickly and immediately looking to fade the direction instead of letting the ADR play out. Should be an easy enough fix.
But then there are those ranging days when that habit is very profitable which makes it more difficult to kick.
  • #603
  • Feb 13, 2023 10:34am Feb 13, 2023 10:34am
yes,from a daily perspective it is a higher low and from a 4 hour it is a HL,however dow is at top of the range..From Friday afternoon it has gained roughly 550 points as of 4 30 UK time...CPI tomorrow could reverse said gains..Todays Swiss CPI above forecasts could be a clue.
ado
  • #604
  • Feb 13, 2023 10:54am Feb 13, 2023 10:54am
possible fly in the ointment is gold..as of 16 55 UK time it's tracking lower..unusual when indicies are higher and dollar lower.
ado
  • #605
  • Feb 15, 2023 5:38am Feb 15, 2023 5:38am
went long on cable at 74 , after sweep of Asia low and (I think) imbalance at 74..closed at 82.I think I should have kept it longer,but still learning.
ado
  • #606
  • Feb 25, 2023 6:43am Feb 25, 2023 6:43am
Haven't given up on this but I decided that for me at least there was a missing piece of the puzzle. Got caught when I thought I was in the trade and the market had turned on me. Attaching a couple of charts that I have used to help me avoid these situations.
The white ribbon is a 9-period EMA (high, close, low). If the ribbon is flat, think twice about getting in or getting out. If the candles are under the ribbon, the market isn't going up!
The dark green is a 9-period DEMA. When this crosses the 9-period EMA sharply, you have a change in direction!
Colored boxes represent Tokyo, London and New York sessions.
Black symbols are pivot points.
Blue and Red ribbons are 48 and 144 period EMA's just to confirm the trend.

If anyone finds a trade management tool that maintains a hidden trailing stop for multiple orders, please share it. I believe that this would give you greater trade protection than a simple stop loss. You may be popped out of trades earlier but these would simply create more opportunities to get in at better prices. Ideally, there would be an initial trailing stop size and a following trailing stop size.
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  • #607
  • Edited 7:13am Feb 25, 2023 6:43am | Edited 7:13am
Part 2 with 4 hr and daily EMA
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  • #608
  • Feb 25, 2023 6:45am Feb 25, 2023 6:45am
Drilled the same chart into a 5 min time frame. Will add levels to use this as a basis for daily bias this week.
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  • #609
  • Feb 25, 2023 7:07am Feb 25, 2023 7:07am
Another key piece to making sure that you have directional bias correct is USDX. GU can go in a direction other than inverse to USDX but it does tend to go in the inverse direction!
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  • #610
  • Mar 3, 2023 7:10am Mar 3, 2023 7:10am
Quoting dantpm
Haven't given up on this but I decided that for me at least there was a missing piece of the puzzle. Got caught when I thought I was in the trade and the market had turned on me. Attaching a couple of charts that I have used to help me avoid these situations. The white ribbon is a 9-period EMA (high, close, low). If the ribbon is flat, think twice about getting in or getting out. If the candles are under the ribbon, the market isn't going up! The dark green is a 9-period DEMA. When this crosses the 9-period EMA sharply, you have a change in direction!...
How did you get on ?

I can't recommend dynamic SnR/lagging indicators personally as I've never found them useful. I think simplicity is key with this method but you really do have to be using orderflow software to look at the real volume in the futures market, look at the orderbook/heatmap etc to pin down liquidity zones. But, it's bare bones you need to use your trader brain along with it and add or subtract whatever you see fit.

On top of this, some way of determining the daily bias-- but it's more or less the same methods looking at the h4/daily chart, ICT methods etc.

Haven't been trading this week apart from today. I'm expecting a break above Thursday's H1 swing high (1.20096) then a break down for the afternoon, possibly to the EQL above 1.19. This would take us from one liquidity pool to another, which is basically all price does intraday.

intraday price action is a megaphone/expending wedge so we should respect that too
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  • #611
  • Mar 3, 2023 7:18am Mar 3, 2023 7:18am
Quoting mysterio
{quote} How did you get on ? I can't recommend dynamic SnR/lagging indicators personally as I've never found them useful. I think simplicity is key with this method but you really do have to be using orderflow software to look at the real volume in the futures market, look at the orderbook/heatmap etc to pin down liquidity zones. But, it's bare bones you need to use your trader brain along with it and add or subtract whatever you see fit. On top of this, some way of determining the daily bias-- but it's more or less the same methods looking at the...
I am getting along. A combination of the chart that I showed in this chain and info from your model and I manage to make a profit.
Right now I have a buy-and-sell open. Got in too early. If this gets to 1.2 and retraces to 1.97 I will do well. Other combinations will work as well. Just sharing.
  • #612
  • Mar 3, 2023 7:26am Mar 3, 2023 7:26am
Quoting dantpm
{quote} I am getting along. A combination of the chart that I showed in this chain and info from your model and I manage to make a profit. Right now I have a buy-and-sell open. Got in too early. If this gets to 1.2 and retraces to 1.97 I will do well. Other combinations will work as well. Just sharing.
If we make Thursday high, I will do very well!
  • #613
  • Mar 3, 2023 7:39am Mar 3, 2023 7:39am
Quoting mysterio
{quote} How did you get on ? I can't recommend dynamic SnR/lagging indicators personally as I've never found them useful. I think simplicity is key with this method but you really do have to be using orderflow software to look at the real volume in the futures market, look at the orderbook/heatmap etc to pin down liquidity zones. But, it's bare bones you need to use your trader brain along with it and add or subtract whatever you see fit. On top of this, some way of determining the daily bias-- but it's more or less the same methods looking at the...
You have that limit on that 1hour fvg
  • #614
  • Mar 3, 2023 7:54am Mar 3, 2023 7:54am
Quoting mysterio
{quote} How did you get on ? I can't recommend dynamic SnR/lagging indicators personally as I've never found them useful. I think simplicity is key with this method but you really do have to be using orderflow software to look at the real volume in the futures market, look at the orderbook/heatmap etc to pin down liquidity zones. But, it's bare bones you need to use your trader brain along with it and add or subtract whatever you see fit. On top of this, some way of determining the daily bias-- but it's more or less the same methods looking at the...
lets see
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  • #615
  • Mar 3, 2023 8:05am Mar 3, 2023 8:05am
Quoting mysterio
{quote} lets see {image}
tapped out

lets see what happens.
  • #616
  • Mar 3, 2023 8:11am Mar 3, 2023 8:11am
Ah y'know, i think the entry was fine-- just set my stop too quickly, a bit out of practice.
  • #617
  • Mar 3, 2023 8:29am Mar 3, 2023 8:29am
Quoting mysterio
Ah y'know, i think the entry was fine-- just set my stop too quickly, a bit out of practice.
was written all over the order flow too

surge in volume down, and even when it began to pullback and big players loaded up, then tailed off during the first retest
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  • #618
  • Mar 3, 2023 9:02am Mar 3, 2023 9:02am
Quoting mysterio
{quote} How did you get on ? I can't recommend dynamic SnR/lagging indicators personally as I've never found them useful. I think simplicity is key with this method but you really do have to be using orderflow software to look at the real volume in the futures market, look at the orderbook/heatmap etc to pin down liquidity zones. But, it's bare bones you need to use your trader brain along with it and add or subtract whatever you see fit. On top of this, some way of determining the daily bias-- but it's more or less the same methods looking at the...
It's about to complete. Congrats if you caught it.
  • #619
  • Mar 6, 2023 4:10am Mar 6, 2023 4:10am
hello friends

waiting for this scenario

we may have made the low already but it doesn't feel right yet-- so I prefer to wait until the NY session (i don't like trading around london lunch)

A short above the highs is preferred

had some short running after LO but, didn't really hold for that long

waiting for FVG fill and more SSL to be filled first before a more discount buy--also have SSR around that 1.2010-15 area
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  • #620
  • Mar 6, 2023 4:25am Mar 6, 2023 4:25am
Quoting mysterio
hello friends waiting for this scenario we may have made the low already but it doesn't feel right yet-- so I prefer to wait until the NY session (i don't like trading around london lunch) A short above the highs is preferred had some short running after LO but, didn't really hold for that long waiting for FVG fill and more SSL to be filled first before a more discount buy--also have SSR around that 1.2010-15 area {image}
I am used to seeing 'Monday' action where the MM's do a teaser in Frankfurt/London and then tighten up to a range for the rest of the day to try and sucker liquidity. I don't recall what happens after a tight range for Frankfurt/London.
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