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  • #161
  • Dec 31, 2023 4:40am Dec 31, 2023 4:40am
Quoting stevepatt
{quote} Hi Islandfx, Look at the way Price moves into the Previous Day's High Just an Observation Happy New Year to. you and all your Readers {image} {image}
Hi Steve,
Thanks for dropping by, you charts and views are appreciated. Feel free to post as others views on charts are of value.
Happy New Year
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #162
  • Dec 31, 2023 4:47am Dec 31, 2023 4:47am
First i didnt mention that your system is the malaysian snr, just told they have similarities.I know its a simple way to see sp areas.I trade this almost 10 years now.Anyway its a good start for the beginners.
  • #163
  • Dec 31, 2023 4:54am Dec 31, 2023 4:54am
Quoting jepeto
First i didnt mention that your system is the malaysian snr, just told they have similarities.I know its a simple way to see sp areas.I trade this almost 10 years now.Anyway its a good start for the beginners.
Hi Jepeto,
Feel free to post some charts if you like when trading fires up again.
All the best for the New Year
Your trade order needs to be in the right place at the right time.
  • #164
  • Dec 31, 2023 4:56am Dec 31, 2023 4:56am
Thank you.Happy New Year to all traders and you.
  • #165
  • Edited 5:14am Dec 31, 2023 5:03am | Edited 5:14am
Hi Traders,
Just a reminder, when you place trades on your own systems check to see if there was a rejection candle before your entry that you could have entered the trade.
If you can adapt to entering trades this way you will be able to improve the RR on the trade.
If price has broken resistance it will usually return to pick up more orders at support or a demand zone. The rejection candle will show that I find no reason to wait until price is heading back up. You will be paying retail prices, you want to be paying wholesale prices.
Your trade order needs to be in the right place at the right time.
  • #166
  • Dec 31, 2023 5:12am Dec 31, 2023 5:12am
Good point.The rejection candle is the liquidity of the market,there no reason to wait confirmation,you have more RR and minimize your stop loss.
.
  • #167
  • Dec 31, 2023 5:29am Dec 31, 2023 5:29am
Hi Traders.
EN is a good example of 4hr support and resistance that can be utilized. I will be watching this week for rejection candles at these levels.
Plan your trade in advance and wait for price to be in the right place at the right time.

Attached Image (click to enlarge)
Click to Enlarge Name: EN 4hr SR.png Size: 17 KB
Your trade order needs to be in the right place at the right time.
  • #168
  • Dec 31, 2023 8:49am Dec 31, 2023 8:49am
Quoting Islandfx911
Hi Traders. EN is a good example of 4hr support and resistance that can be utilized. I will be watching this week for rejection candles at these levels. Plan your trade in advance and wait for price to be in the right place at the right time. {image}
Is there. Way to contact you in private
  • #169
  • Dec 31, 2023 12:05pm Dec 31, 2023 12:05pm
I am looking at UY for a short..The trend is seriously down on the htf..a bit of retrace would be ideal for a short at the zone on my M15 chart. I have 3 levels for the traget and I will take one step at a time in case it bounces at the 1st level..the problem now is whether we can get a retrace up to the zone on my 15 minute chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY.rDaily.png Size: 29 KB
Click to Enlarge Name: USDJPY.rM15.png Size: 23 KB
the cautious seldom err....C
  • #170
  • Dec 31, 2023 6:19pm Dec 31, 2023 6:19pm
Quoting pips29
I am looking at UY for a short..The trend is seriously down on the htf..a bit of retrace would be ideal for a short at the zone on my M15 chart. I have 3 levels for the traget and I will take one step at a time in case it bounces at the 1st level..the problem now is whether we can get a retrace up to the zone on my 15 minute chart {image} {image}
Hi Eric,
JPY Holidays until Thursday so UJ may drift around at the start of the week, it depends on what USD is doing.
Short is the right direction however you might get some good lower timeframe trades on the retrace.
I will be looking at JPY pairs from Thursday
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #171
  • Dec 31, 2023 6:33pm Dec 31, 2023 6:33pm
Hi Eric,
I would expect something like this for UJ. It's just my take on it.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Proposed Path.png Size: 26 KB
Your trade order needs to be in the right place at the right time.
  • #172
  • Dec 31, 2023 6:42pm Dec 31, 2023 6:42pm
Quoting Islandfx911
Hi Eric, I would expect something like this for UJ. It's just my take on it. {image}
There was a break of structure (bos) on Thursday when the candle closed below that level (zone) and on Friday it was confirmed with a bearish candle close. IMO short looks better and if price does retrace that's even better as I get a better value for money(vfm) entry
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.rDaily.png Size: 25 KB
the cautious seldom err....C
  • #173
  • Dec 31, 2023 6:54pm Dec 31, 2023 6:54pm
The zone in green can be the area for my 1 st entry and the one in grey would be my last short for the week's play
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15m.png Size: 22 KB
Click to Enlarge Name: USDJPY.rM15b.png Size: 22 KB
the cautious seldom err....C
  • #174
  • Dec 31, 2023 7:10pm Dec 31, 2023 7:10pm
I was so pissed off with myself last Friday for taking this trade off for a loss of 2 pips rather than letting it hit my stop. What made me do it was beyond understanding. Fortunately my other trades made up more than enough to cover what I would have gained on the loonie
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.rM15.png Size: 20 KB
the cautious seldom err....C
  • #175
  • Dec 31, 2023 7:22pm Dec 31, 2023 7:22pm
Quoting pips29
I was so pissed off with myself last Friday for taking this trade off for a loss of 2 pips rather than letting it hit my stop. What made me do it was beyond understanding. Fortunately my other trades made up more than enough to cover what I would have gained on the loonie {image}
I have done that a few times and it is the worst feeling.
That was a great entry. There will be more like it.
Your trade order needs to be in the right place at the right time.
  • #176
  • Dec 31, 2023 7:31pm Dec 31, 2023 7:31pm
Quoting Islandfx911
{quote} I have done that a few times and it is the worst feeling. That was a great entry. There will be more like it.
Yes, I'm sure there will be more on the way but the feeling really sucks, anyway I'm off to bed now.It's 1.30 am and heralding in 2024 must have kept me awake.Let's get started on Tuesday with a wheelbarrow of green pips. Happy New Year!!!
the cautious seldom err....C
  • #177
  • Dec 31, 2023 7:40pm Dec 31, 2023 7:40pm
Quoting Forex45trx
{quote} Is there. Way to contact you in private
Hi Forex45trx,
No private contact. Any questions you have you can post here.
All the Best
Your trade order needs to be in the right place at the right time.
  • #178
  • Jan 1, 2024 2:37am Jan 1, 2024 2:37am
Islandfx911, Thanks for this simple basic system that focuses on price action! Looking forward to learning more from you and other contributors to this thread. Happy New Year
  • #179
  • Jan 1, 2024 7:00pm Jan 1, 2024 7:00pm
Hi Traders,
I have a limit order in on UJ based on 4hr Resistance. I may have missed this one though.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 02 01 24 Short 4hr Resistance.png Size: 14 KB


Update:
Sell limit order cancelled
Your trade order needs to be in the right place at the right time.
  • #180
  • Jan 1, 2024 7:36pm Jan 1, 2024 7:36pm
Quoting Islandfx911
Hi Traders, I have a limit order in on UJ based on 4hr Resistance. I may have missed this one though. {image} Update: Sell limit order cancelled

Let the market fill all the post-holidays orders ... just watching the market today and slowly getting back into the rhythm

Weekly
- weekly levels

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Jan03 Weekly 2-1-2024 9-33-05 am.png Size: 12 KB


H4
- a lot can happen between those Weekly levels

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Jan03 H4 w weekly swing level s2-1-2024 9-31-15 am.png Size: 11 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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