Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow | Page 37 | Forex Factory

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

  • #721
  • Jun 16, 2023 6:22am Jun 16, 2023 6:22am
Whilst waiting I doodled 'setup 2' as an addition to setup 1 on OP

Use this very often
will post examples later
could use the one on the left for yesterdays buy for example (high vol basing created between 3-6am asia)
the issue is, because i'm programmed to look for session high and low sweeps, I often sit on my hands waiting for the optimal entry which doesnt transpire. No easy answer for this.

Watching 1.2812 for sell
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  • #722
  • Jun 16, 2023 6:32am Jun 16, 2023 6:32am
scaling in sell 1.2808
  • #723
  • Jun 16, 2023 7:03am Jun 16, 2023 7:03am
stopped. it's getting silly now. will wait for the market to calm itself and come back another time.
  • #724
  • Jun 16, 2023 7:11am Jun 16, 2023 7:11am
Quoting mysterio
{quote} Will do ! Wish i'd kept it updated when trading was good nobody likes a thread with wrong trades I'm looking at short for NY near the peak, 1.2810-12 i'm seeing some supply What struggles are you having is it discipline ? I made some strides in this over the last year but still work to do. im alot better at sitting on my hands but, it could be better
WE shall turn those Losses to Ws soon.

Yeah, I tend to over leverage my positions with tight stops which in most cases get taken out giving my direction bias less breathing space. My LTF structural analysis and order flow was also lacking but I noticed the problem and adjustments will be made.
Face 'ur fears & tame 'ur greed
  • #725
  • Jun 16, 2023 7:31am Jun 16, 2023 7:31am
Quoting JereMi256
{quote} WE shall turn those Losses to Ws soon. Yeah, I tend to over leverage my positions with tight stops which in most cases get taken out giving my direction bias less breathing space. My LTF structural analysis and order flow was also lacking but I noticed the problem and adjustments will be made.
its been really punishing actually and by far the hardest time of the year

just have to step back

cant buy after such an long uninterupted rise and breach of AWR, selling obviously isnt working either..

it's forex. felt like a newbie this week and last.
  • #726
  • Jun 16, 2023 7:36am Jun 16, 2023 7:36am
Quoting JereMi256
{quote} WE shall turn those Losses to Ws soon. Yeah, I tend to over leverage my positions with tight stops which in most cases get taken out giving my direction bias less breathing space. My LTF structural analysis and order flow was also lacking but I noticed the problem and adjustments will be made.
and yeah-- have a restful weekend dont think about candlesticks and when BoE is out the way we'll be smashing it as per ! cheers bud
PS i'm in a hailmary sell from 1.2847..stop to BE wasn't gonna say but fk it
  • #727
  • Jun 16, 2023 7:44am Jun 16, 2023 7:44am
Quoting mysterio
{quote} and yeah-- have a restful weekend dont think about candlesticks and when BoE is out the way we'll be smashing it as per ! cheers bud PS i'm in a hailmary sell from 1.2847..stop to BE wasn't gonna say but fk it
its a good sell,
i think the 1.283X area is a former monthly equilibrium point before the black swan of GU occurred
  • #728
  • Jun 16, 2023 7:59am Jun 16, 2023 7:59am
Quoting mysterio
{quote} its been really punishing actually and by far the hardest time of the year just have to step back cant buy after such an long uninterupted rise and breach of AWR, selling obviously isnt working either.. it's forex. felt like a newbie this week and last.
Don't be hard on yourself. I have heard this from someone(more experienced) I don't know how true it is;

"June and July are the hardest trading months especially in the Frankfurt and LN sessions since the market is usually rangy, busy testing yearly highs and lows"

I would like to think that this hypothesis is true since June has proved so to some extent, waiting to see how July pans out.
Face 'ur fears & tame 'ur greed
  • #729
  • Jun 16, 2023 8:03am Jun 16, 2023 8:03am
Quoting Whale
{quote} its a good sell, i think the 1.283X area is a former monthly equilibrium point before the black swan of GU occurred
interesting point, which black swan- Liz Truss? My mind has gone a bit blank from then. I remember trading the all time low though. Very interesting time in cable history.
i got lucky with this sell it was just based on a reversal pattern on m1 on a bookmap level
i'll hold rest of afternoon and possibly add on this pullback
may end the week in profit after all

Quoting JereMi256
{quote} Don't be hard on yourself. I have heard this from someone(more experienced) I don't know how true it is; "June and July are the hardest trading months especially in the Frankfurt and LN sessions since the market is usually rangy, busy testing yearly highs and lows" I would like to think that this hypothesis is true since June has proved so to some extent, waiting to see how July pans out.
interesting, i never heard this. I dont recall last years trading it was mostly positive though, was kind of a formative year for me
  • #730
  • Jun 16, 2023 8:06am Jun 16, 2023 8:06am
Quoting mysterio
{quote} and yeah-- have a restful weekend dont think about candlesticks and when BoE is out the way we'll be smashing it as per ! cheers bud PS i'm in a hailmary sell from 1.2847..stop to BE wasn't gonna say but fk it
That is a good entry position. Dxy is playing tricks at the D1 kink, a shift in structure should give u confidence on whether to hold it through the weekend or close tonight.

Best wishes bud
jereMi.
Face 'ur fears & tame 'ur greed
  • #731
  • Jun 16, 2023 8:35am Jun 16, 2023 8:35am
ended up adding 1.2835
hopefully haven't hamstrung myself
i'll either average it into the stop or place this one at BE also, see what happens NYSE
  • #732
  • Jun 16, 2023 8:41am Jun 16, 2023 8:41am
reason for entry, imb fill. should at least give a reaction to get my stop in.
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  • #733
  • Jun 16, 2023 8:51am Jun 16, 2023 8:51am
This Dollar weakness is unheard of, we may continue to last D1 demand zone since H4 broke and closed below the kink. This gives GU hopes of seeing 1.300 today.
News volatility coming up in a few minutes.
Face 'ur fears & tame 'ur greed
  • #734
  • Jun 16, 2023 9:04am Jun 16, 2023 9:04am
Quoting JereMi256
This Dollar weakness is unheard of, we may continue to last D1 demand zone since H4 broke and closed below the kink. This gives GU hopes of seeing 1.300 today. News volatility coming up in a few minutes.
1.30 today? It's too much, AWR was smashed
I'm about to BE. Cannot string anything together. Done til next wk
  • #735
  • Jun 16, 2023 9:11am Jun 16, 2023 9:11am
Quoting mysterio
{quote} 1.30 today? It's too much, AWR was smashed I'm about to BE. Cannot string anything together. Done til next wk
True, 1.3 is over extended, pardon me.
The news is good, it should calm the bulls.

You did the right thing to take a break.
We try again next week!
Face 'ur fears & tame 'ur greed
  • #736
  • Jun 16, 2023 9:14am Jun 16, 2023 9:14am
Of course it taps me out breakeven to the pip and dives

absolute classic

same as last week had a trade from 1.24 to 1.25 stopped out by 1 pip

feels personal sometimes !

in both cases it has meant the difference between a strong week and losing week. I had 100 pip target for this short too. FFS!
  • #737
  • Jun 16, 2023 9:16am Jun 16, 2023 9:16am
It might dump hard even, the most annoying thing.
But I doubt it, ranging till next week.
Face 'ur fears & tame 'ur greed
  • #738
  • Jun 16, 2023 9:38am Jun 16, 2023 9:38am
Quoting mysterio
Of course it taps me out breakeven to the pip and dives absolute classic same as last week had a trade from 1.24 to 1.25 stopped out by 1 pip feels personal sometimes ! in both cases it has meant the difference between a strong week and losing week. I had 100 pip target for this short too. FFS!
Beats not having a SL and down a 100 pips...
  • #739
  • Jun 16, 2023 10:25am Jun 16, 2023 10:25am
Quoting noox
{quote} Beats not having a SL and down a 100 pips...
it's true
having a trade taken out breakeven that goes on to profit is slightly annoying, but having a winner turn into a loss is far worse

So this week summary

Only traded two days Thurs/fri

Thurs was looking for 100 pip buy, didnt hit my buy level, tried to sell from real supply in the market but, unsupported by the chart, so I was in the fault there. Perhaps too eager to get into trade.

Friday, averaged out of the second bad trade on Thurs. Then one loss, then one breakeven.

Pretty woeful-- next week I will do extra prep in evenings to come back with renewed focus-- whenever this happens (thankfully rarely) It does give me a kick to improve things and stop with the borderline entries

I expect DXy to test H4 demand next so I think a bit further up for GU. It would seem we should close the daily FVG up to 1.30. We have BOE next week which I think will begin the sell off.

when I look back at the days i didnt trade this week there were only a couple I would have taken
  • #740
  • Edited 9:18am Jun 17, 2023 6:19am | Edited 9:18am
Next week

would make sense to see some sideways consolidation after such a strong move and before BoE

I'll see if this plays out in the price action between 1.2750-1.2850

Otherwise looking for a retest of DXY h4 demand 101.3-101.5 by the BoE release. We may test as high as 1.30 eventually to close the daily fvg

there is liquidity at 1.2880 (significant) and smaller pools at 1.2760, 1.2732
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