Flying Dutchman | Page 385 | 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

  • #7,681
  • Apr 20, 2023 6:16pm Apr 20, 2023 6:16pm
Days gone behind, some targets still in play just on a One Hour Chart


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 targets still in play on the one hour.png Size: 18 KB
  • #7,682
  • Apr 20, 2023 7:13pm Apr 20, 2023 7:13pm
Price just tipped the 50% fibo line in the chart above, we now have equilibrium from that past Swing.
Where to now ?
  • #7,683
  • Apr 20, 2023 7:27pm Apr 20, 2023 7:27pm
Plus a RED News Friday for a few starting in around six hours.

EUR, GBP, USD

The setups can likely come first, then the plays, then the news.

Trade safe folks.
  • #7,684
  • Apr 20, 2023 8:47pm Apr 20, 2023 8:47pm
Quoting TimeTells
Plus a RED News Friday for a few starting in around six hours. EUR, GBP, USD The setups can likely come first, then the plays, then the news. Trade safe folks.
Just another day ...

Inserted Video
Mark ... Everything you have been told is a LIE
  • #7,685
  • Apr 20, 2023 9:16pm Apr 20, 2023 9:16pm
Okay, these are NOT any set "setups" to be looked for over & over, they are just probability trades in the moment at the time is all (based on lines & targets).

Folks ask why I don't sit in for the whole run. Tried that.
In Asia the market can also whipsaw a trader so a scalper like me doesn't really need to be hanging in there and hoping imo.

I approach 15p as a trading day (for me), so at +20 here, today is essentially over right now.
Though I would look in of course an hour after the Red News later to assess any out-of-position pricing the market might find itself in.

But I won't need to trade again so I will be on a full a/c care risk protocol
(ie don't get greedy TT lol, and don't get keen just to trade, if not necessary - from past bad experiences )

All the best to all, for maybe a freaky Friday ahead who knows, not me.

.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5 day is over.png Size: 10 KB
  • #7,686
  • Apr 20, 2023 9:54pm Apr 20, 2023 9:54pm
Quoting TimeTells
Okay, these are NOT any set "setups" to be looked for over & over, they are just probability trades in the moment at the time is all (based on lines & targets). Folks ask why I don't sit in for the whole run. Tried that. In Asia the market can also whipsaw a trader so a scalper like me doesn't really need to be hanging in there and hoping imo. I approach 15p as a trading day (for me), so at +20 here, today is essentially over right now. Though I would look in of course an hour after the Red News later to assess any out-of-position pricing the market...
Great trade as usual. Mine was at the same region. Just for the story, the high for session was formed early on (before Tokyo Open). This was confirmed around 55 minutes into Tokyo session when there was a rejection of the BRN 167 and DOL with a down momentum candle. For me as per my rules, i mostly wait for an hour into the session before placing the trade, RN, Time are always constant. The other confluence for this trade was PFH, Pin, Pivot rejection.
Attached Image (click to enlarge)
Click to Enlarge Name: df.png Size: 24 KB
  • #7,687
  • Apr 20, 2023 10:14pm Apr 20, 2023 10:14pm
Quoting whitesta
{quote}
Great trade as usual. Mine was at the same region.
Just for the story, the high for session was formed early on (before Tokyo Open).
This was confirmed around 55 minutes into Tokyo session when there was a rejection of the BRN 167 and DOL with a down momentum candle. For me as per my rules, i mostly wait for an hour into the session before placing the trade, RN, Time are always constant. The other confluence for this trade was PFH, Pin, Pivot rejection. {image}

Spot on, W.

The high was formed very early as they took price up quickly to take out the opening gap while s preads were still high & too high usually for retail
( when banks trade between each other there is no such thing as spread between as we know it in retail, so they essentially do their best to make you pay if trading very early in the day should you even wish to).

Edit: I observe that if they dont go for that gap fill early, then they can happily leave it there to taunt lol for long periods, don''t get sucked into a chase imo, watch.

I wait now till the 3rd hour has begun before even looking (ie NO temptation then haha), which is also often 10 mins after any Yen news coming through.

Great trade W. When we are there at the time, we assess probabilities based on our experiences & trade to target. High probability imo. Just not a guarantee is all.

all the best pal
  • #7,688
  • Apr 20, 2023 10:35pm Apr 20, 2023 10:35pm
Quoting TimeTells
{quote} Spot on, W. The high was formed very early as they took price up quickly to take out the opening gap while s preads were still high & too high usually for retail ( when banks trade between each other there is no such thing as spread between as we know it in retail, so they essentially do their best to make you pay if trading very early in the day should you even wish to). Edit: I observe that if they dont go for that gap fill early, then they can happily leave it there to taunt lol for long periods, don''t get sucked into a chase imo, watch....
Yes there is no guarantee. Its just that there are some very good herd zones formed but in anticipating a revisit at times as traders we overlook at the other targets formed and destroyed..lol. For short term traders it is very important. From what i have seen so far these targets in between are crucial to bank some pips. Also on GBP/JPY it is good to wait for retests at times or to look for HL and LH. Just as an example there was a trade on offer about Hour and half ago which i missed. I have put some points on chart. The HL candle could have been a little risky entry as there was no structure break. Do have a look if u get a chance and see if i was on the right track. I am also looking for these 5 to 10pips. All about whatever time i get to trade..lol.
Attached Image (click to enlarge)
Click to Enlarge Name: fg.png Size: 20 KB
  • #7,689
  • Apr 20, 2023 10:47pm Apr 20, 2023 10:47pm
Quoting whitesta
{quote}
Yes there is no guarantee. Its just that there are some very good herd zones formed but in anticipating a revisit at times as traders we overlook at the other targets formed and destroyed..lol. For short term traders it is very important. From what i have seen so far these targets in between are crucial to bank some pips. Also on GBP/JPY it is good to wait for retests at times or to look for HL and LH. Just as an example there was a trade on offer about Hour and half ago which i missed. I have put some points on chart. The HL candle could...

Yes W, you are thinking things through in the right manner, imo only of course.

The HL you mention was a riskier entry point, though I have taken them also at times ...
(based on the movement of price candles - their speed etc which a maths number just doesn't give me, I need to witness what I just call 'committment' of a candle move all visual and best on the 1min but I am training my eyes again to do the 'delta' thing on a 15m chart which is my preferred setup TF),
... and then got out quick if they flip on you, while the flips often cost me about 10 pips (and can work out right later tho, but not always lol).

The green horizontal line structure break above the HL was the better entry point and it doesn't bother me (anymore) if I miss out on the first 5 to 10 even pips of a move - and then I may also lol close a few pips early just to 'lock' the trade.

Once I was damn determined to get that extra 3 pips lol from 12-15p and then they flipped on me and I had to sit on that trade for another 40 mins or so just to get back to the original 12p again hahaaa.

So 3 pips either way doesn't bother me now, at the start OR the finish of a trade IF I have a 'lock' trade booked in the a/c. Each to their own, of course.

cheers again W.
  • #7,690
  • Apr 21, 2023 1:57am Apr 21, 2023 1:57am
These final two trades for the day were quite high probability going in, imho. Runner to the targets ie Wk Open & BRN. Took the exit locks early. Done.

On the ADR they still have targets below the BRN, and of course above.
London opens in 5 mins & I would have to wait 1½hrs further after that session starts before joining in.
I would look to see where they took price in between, still running it or whipping it back up.
Who knows who is on the dd/hook right now (buyers ?) or whether they have closed out enough sellers also.
Could get interesting maybe (or not).

Pretty sure I'm done now, extra +15 for a +35p day, no point finessing anymore at this point for me, was a good straightforward day in many ways.

.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1 final +15p.png Size: 8 KB
  • #7,691
  • Apr 21, 2023 2:58am Apr 21, 2023 2:58am
Jolly good start to ~dax - Good old levels TT
Very cautious now about losing those quick early gains
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2023-04-21_08-56-56_8b88c.png Size: 116 KB
every Saint has a past. Every Sinner has a Future
  • #7,692
  • Apr 21, 2023 4:22am Apr 21, 2023 4:22am
Heading towards the Herd Zone for long term traders. When no one know..lol
Attached Image (click to enlarge)
Click to Enlarge Name: df.png Size: 20 KB
  • #7,693
  • Apr 21, 2023 4:34am Apr 21, 2023 4:34am
Demo testing E/J.......three out of four good trades and one waiting "?'

ALL around levels drawn prior to 8am UK time on 15 minute time frame ( trade on 5 minute time frame)
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_2023-04-21_10-32-22_722c1.png Size: 120 KB
every Saint has a past. Every Sinner has a Future
  • #7,694
  • Apr 21, 2023 4:42am Apr 21, 2023 4:42am
Quoting turnip15
Jolly good start to ~dax - Good old levels TT Very cautious now about losing those quick early gains {image}
Last two trades before 10am UK time - my stint is over.
On e loser and one win.
Note how price rolled under the 8am UK open ..... black dotted line....bounced....and drifted down - first short was okay but the second failed
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2023-04-21_10-39-17_5806c.png Size: 148 KB
every Saint has a past. Every Sinner has a Future
  • #7,695
  • Apr 21, 2023 4:51am Apr 21, 2023 4:51am
Quoting whitesta
Heading towards the Herd Zone for long term traders. When no one know..lol {image}
DAX.... I know this is an index and not "Forex" but you guys that write about "HERD ZONES"......do you think this level on the hourly Dax would qualify as a herd zone?
( This level matches, approx, area of UK 8am Equity Open)
Anyone ever used "Herd Zones" on an Index or non Forex related instrument?
Comments?
Attached Image (click to enlarge)
Click to Enlarge Name: GER30_2023-04-21_10-48-51_cdd3a.png Size: 164 KB
every Saint has a past. Every Sinner has a Future
  • #7,696
  • Apr 21, 2023 5:05am Apr 21, 2023 5:05am
Quoting turnip15
Demo testing E/J.......three out of four good trades and one waiting "?' ALL around levels drawn prior to 8am UK time on 15 minute time frame ( trade on 5 minute time frame) {image}
Continue Demo..... Location of HERD ZONES

Have I drawn in suitable "HERD" Zones?
I have noted proximity of Big Round Numbers or the lack thereof.
Time or relation of these herd Zones to UK Equity Open. Important in your experience ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_2023-04-21_11-01-03_ac6f2.png Size: 169 KB
every Saint has a past. Every Sinner has a Future
  • #7,697
  • Apr 21, 2023 5:09am Apr 21, 2023 5:09am
Quoting turnip15
{quote} Continue Demo..... Location of HERD ZONES Have I drawn in suitable "HERD" Zones? I have noted proximity of Big Round Numbers or the lack thereof. Time or relation of these herd Zones to UK Equity Open. Important in your experience ? {image}
A five minute view.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_2023-04-21_11-08-19_4080e.png Size: 153 KB
every Saint has a past. Every Sinner has a Future
  • #7,698
  • Apr 21, 2023 5:14am Apr 21, 2023 5:14am
Quoting turnip15
{quote} DAX.... I know this is an index and not "Forex" but you guys that write about "HERD ZONES"......do you think this level on the hourly Dax would qualify as a herd zone? ( This level matches, approx, area of UK 8am Equity Open) Anyone ever used "Herd Zones" on an Index or non Forex related instrument? Comments? {image}
Zones can be formed in Forex, Index, etc. How it behaves when it gets there or if it gets there is a different story. I have never traded Dax so not sure i have much input regarding that. Certain pairs or index in this case behave differently.
  • #7,699
  • Apr 21, 2023 7:14am Apr 21, 2023 7:14am
Quoting whitesta
{quote} Zones can be formed in Forex, Index, etc. How it behaves when it gets there or if it gets there is a different story. I have never traded Dax so not sure i have much input regarding that. Certain pairs or index in this case behave differently.
Thanks for the reply W.
Perhaps others like TT could add their thoughts later.
every Saint has a past. Every Sinner has a Future
  • #7,700
  • Apr 21, 2023 11:18am Apr 21, 2023 11:18am
Quoting turnip15
{quote} Thanks for the reply W. Perhaps others like TT could add their thoughts later.
Hi T,,,, 100% herd zones,,, areas,,etc etc.. are in all the markets you can possibly trade..
They are not specific to any Market it's a general market psychology concept.

Here's a link to George's thread or one of his threads..
This post or the image in the post shows very clearly herd zones.

https://www.forexfactory.com/thread/...6#post13585036

Attached Image (click to enlarge)
Click to Enlarge Name: GJ HOURLY.png Size: 20 KB




It really goes along with Steve Mauro's BTMM ideas.. and as well Stacy Burke's concepts methods etc...
And the sense that price moves In 100 pip boxes.. and these clean outs that George is referring to in the post I linked to are typical Market psychology Market maker behavior...

25 to 50 pip cleanouts, stop hunts, false breakouts BSL/SSL, PFH/PFL call it what you want.. but it constantly repeats itself on anything you can chart and trade...

Now since these clean outs happen at the extremes the question is how do you enter...
In my opinion that's where some of the other levels come in such as round numbers quarter levels etc.. reversal patterns, Timing,,, and levels of three...

Nothing worse than buying a top or a bottom and it keeps on grinding against you..

So much to talk about on this subject lol...but I will leave it at this....and for anyone interested search GeorgeAus and on his profile type Herd in the search box.. check his charts out etc.....

Cheers.
Blue
Master your Mind,,,Master the Market
8 traders viewing now