Sorry Vantage I never posted a chart with the trade I meant the double bottom today that it think you mentioned you missed it in your post earlier today. this was double bottom I think you mentioned.
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I agree this one was difficult to trade in terms of this system in view of the 1hr and 15 min charts. One of those things.
That computer prob earlier yesterday. When I take a pic of a chart google chrome and internet explorer didn't like the combo it seems. Got prob sorted out I hope.
Sorry Vantage I never posted a chart with the trade I meant the double bottom today that it think you mentioned you missed it in your post earlier today. this was double bottom I think you mentioned.
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Aha I remember now. The move down was a trickle and 1 min had 1 candle that took out much of the move to form the 5 min hammer. We weren't quick enough to get trade set up. Double bttm 5 min hammer with that kind of pa, worth a punt if you were set up already. Otherwise you wouldn't have caught it.
2nd 6:35 GMT long, when the bearish candle top was taken out and a HL was made
3rd 8:35 GMT long
AGAIN and AGAIN - If I had looked at the immediate trend, I would have recognised, that shorts were on after 7:50 GMT
I missed the short completely - never thought of it until....
the down move after 9:30 was too fast for me - there were some nice chances to get on board with M1 though
EJ
had a much nicer HL setup 10min before FO (double bottom and HH/HL)
recognised this too late but got on board a bit later with the 8:35 candle (HL - bigger picture) 112.55 to 113.20
this is what I'm struggling with - again - bigger picture and immediate trend
Aha I remember now. The move down was a trickle and 1 min had 1 candle that took out much of the move to form the 5 min hammer. We weren't quick enough to get trade set up. Double bttm 5 min hammer with that kind of pa, worth a punt if you were set up already. Otherwise you wouldn't have caught it.
Vantage requested to put this on the thread. Here it goes:
Have a look at this.
These are so called High 1 and High 2 setup candles (green) from yesterday according to Al Brooks's book. Just read the chapter Pullbacks. It's awesome.
If we fall from 5300 there are some tough levels at 5328-39 to reach.
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Looks like we did and I missed the entry I have been waiting for! Entry for me would have been on no.6 arrow down it did have a bit of a wick at the low but with the 15min and hourly like they were I'd ignore that.
the 1,2 and 3 are trades I did.
5 I was going to do but the price moved too quick luckily.
4 and 6 are trades I missed which were worth most!
Looks like we did and I missed the entry I have been waiting for! Entry for me would have been on no.6 arrow down it did have a bit of a wick at the low but with the 15min and hourly like they were I'd ignore that.
the 1,2 and 3 are trades I did.
5 I was going to do but the price moved too quick luckily.
4 and 6 are trades I missed which were worth most!
Have you done any on cable today Vantage?
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I was occupied this am so no trades, I even missed the gu sell after I posted the above chart.
I did get an ej sell, against the 1hr but a 15 min lower close followed by a SS. Sold the 5 mn lh, reject of RN, at the extreme. Didn't want to fall after numerous attempts. We had a 15 hammer, still gave it chances to fall, then with eur going up strongly exited at BE.
Looks like we did and I missed the entry I have been waiting for! Entry for me would have been on no.6 arrow down it did have a bit of a wick at the low but with the 15min and hourly like they were I'd ignore that.
the 1,2 and 3 are trades I did.
5 I was going to do but the price moved too quick luckily.
4 and 6 are trades I missed which were worth most!
Have you done any on cable today Vantage?
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Didn't see 5 as a proper set up though, nicely done on the 3 you took.
Mrs V's battery went kaput this am, managed to get home OK. The AA were just here and we now have a new battery!! Apparently thats what happens when you do about 300 km's per month, they go off quick.
All in all between gu and ej it looks like a decent day, looking forward to tomorrow.
May I ask why you guys passed on the 7:15 GMT candle, 9 candles before your entry? Quite similar setup, 15 min shooting star at price extreme, good 5min close. Didn't break the prior swing low at 5279 but did go one pip below if you were taking entry per rules. I see that you didn't wait for previous swing low to break on your trade so it's pretty much the same thing. Seems that if you held, the first trade would have given profits as well.
I haven't done anything with GU today as I don't like the price action so I missed both potential trades. Just wondering what kept you out of the first and what was different in the second.
May I ask why you guys passed on the 7:15 GMT candle, 9 candles before your entry? Quite similar setup, 15 min shooting star at price extreme, good 5min close. Didn't break the prior swing low at 5279 but did go one pip below if you were taking entry per rules. I see that you didn't wait for previous swing low to break on your trade so it's pretty much the same thing. Seems that if you held, the first trade would have given profits as well.
I haven't done anything with GU today as I don't like the price action so I missed both potential trades....
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That was our earlier BE trade that I mentioned. Exited that one when below 75 failed and came back. As you mention the pa was not nice another reason we got out at BE.
That was our earlier BE trade that I mentioned. Exited that one when below 75 failed and came back. As you mention the pa was not nice another reason we got out at BE.
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morning all,
did you close this trade, V, within a minute or so of opening it? Right after it triggered, there was a big push up. Or did you sit through that and close it as it came back down to the entry level, about 15 mins later?
Joined Aug 2009
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Status: PA has worked for Centuries
|809 Posts
Hi Vantage and all,
my choice was UJ this morning, it was the earliest H1 possible reversal I could see. Sorry it isn't a chart you follow V. It turned out to be a bit of a grinder but quite pleasant to trade.
Vantage trades all over the place I see again this morning, ej, eu, cable and AJ to mention a few that I now watch.
Thanks again for this thread V, it has inspired me to trade totally naked charts (daily hi lo fibs excluded) and read everything I can about price action and reversal setups, just brilliant.
did you close this trade, V, within a minute or so of opening it? Right after it triggered, there was a big push up. Or did you sit through that and close it as it came back down to the entry level, about 15 mins later?
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We sat through the almost immediate push up, got small positive but if you look at your 5 min charts you'll see the 72 area that it went down to was a hl from earlier. It was the 1st likely reject point, when it did reject there it placed our stop at great risk which is why we were prepared to exit and enter later.
