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Domino's Price and order flow trading

  • #1,141
  • Oct 13, 2010 9:43am Oct 13, 2010 9:43am
Quoting domino
take a look at the weekly chart on this AJ weekly..

check out the G/C sell at 1.5773 on weekly..
Domino AJ weekly has gapped flow and the price is finding the footholds on it but still looks doubtful long to me. But the fundies are in pointing to a long scenario. So cheaper longs??
  • #1,142
  • Oct 13, 2010 12:36pm Oct 13, 2010 12:36pm
Quoting vicky_ag
Ben, for my 2 pips..one of the most defining features of order flow trading has been quick moves....it either moves or it doesn't. So still looks doubtful for me (as a newbie in order flow).
The short break under 80.00 was enough for me.
  • #1,143
  • Edited 8:46am Oct 14, 2010 7:47am | Edited 8:46am
took profit at 350P on gbp/aud .. WHY? look at the chart its breaking short on the monthly... im going to play the monthly break trend so I need to scale my position back to accept the monthly TF volatility.

move stops at 51 on the usdmxn now 4400P in profit... this thing has moved beautiful for us... lets hope it continues..
  • #1,144
  • Oct 14, 2010 8:32am Oct 14, 2010 8:32am
Im going to start answering P.M's in the thread im not going to put names this way I dont get asked the same stuff by 17 people lol...

Will I continue to hold an initial position if the break doesnt happen with force?

generally no I wont hold the position if it doesnt break with force.. ill close it for a minute loss if I have to to escape a low volatility break.. but it depends on the timeframe the pair.. something with a wider IRD Im more inclined to hold if its break it on higher Time frames..
  • #1,145
  • Oct 14, 2010 9:44am Oct 14, 2010 9:44am
Quoting domino
Im going to start answering P.M's in the thread im not going to put names this way I dont get asked the same stuff by 17 people lol...

Will I continue to hold an initial position if the break doesnt happen with force?

generally no I wont hold the position if it doesnt break with force.. ill close it for a minute loss if I have to to escape a low volatility break.. but it depends on the timeframe the pair.. something with a wider IRD Im more inclined to hold if its break it on higher Time frames..
Now this is surprising....ppl can we have discussion on the thread itself. If we ask here ...everyone can learn.

Domino, I think I got the psychological wave thing..figured it out after spending time to look at charts, something to do with rate of change at which the price moved through those prices. Still hoping on the answers to previous longer posts
  • #1,146
  • Oct 14, 2010 1:23pm Oct 14, 2010 1:23pm
Dom, Let's say you are trying to catch a monthly/weekly IRD trend, and you spot a failure wave on a 3-4 hour chart. Would you still take this trade? Would you scale in accordingly using a daily/weekly chart? Also, do you have any set of guidelines for how large a wave pattern must be in order to take the trade?
  • #1,147
  • Oct 18, 2010 12:52pm Oct 18, 2010 12:52pm
Quoting Benevolent
Dom, Let's say you are trying to catch a monthly/weekly IRD trend, and you spot a failure wave on a 3-4 hour chart. Would you still take this trade? Would you scale in accordingly using a daily/weekly chart? Also, do you have any set of guidelines for how large a wave pattern must be in order to take the trade?
on the daily yes I would still take it.. say im watching the monthly chart and I see it butting against resistance.. and then I see failure on the daily and it breaking with IRD.. I would take that trade ..

I would use extremely small positions and take the breaks as it continues to trend moving each position to breakeven after profits are locked in by new peaks or lows.. this is an active process and helps manage risk around these points.
  • #1,148
  • Oct 19, 2010 1:39pm Oct 19, 2010 1:39pm
"
Hello

I am a day trader learning forex and I am interested in price action/candlestick patterns for trade setups.

My problem is that I get many false entry signals in low time-frame (e.g. 5 minute). What timeframe do you suggest for a candlestick/price action day trader?

Thanks for your help
__________________
"

I dont recommend daytrading its highly inefficient the spread is to wide and you are at a natural disadvantage that your edge must be larger to overcome. The price action is shotty as well.. if anything daytrade the longterm charts..

I stay busy ill trade all day long.. I couldnt imagine daytrading as many instruments as I do using longer terms.
  • #1,149
  • Oct 19, 2010 1:56pm Oct 19, 2010 1:56pm
Dom, Ben

Here's an update. Stopped out on the NZD/USD trade. GBP/CAD trade has also come to naught.

NZD/USD entry was high and failure of a clean break of the high were the reason I closed the trade.

Thoughts from your side?
  • #1,150
  • Oct 20, 2010 1:00am Oct 20, 2010 1:00am
Quoting vicky_ag
Dom, Ben

Here's an update. Stopped out on the NZD/USD trade. GBP/CAD trade has also come to naught.

NZD/USD entry was high and failure of a clean break of the high were the reason I closed the trade.

Thoughts from your side?
NZD is pulling back into a good demand area, watch for a wave formation again. Still in sync with the IRD.
  • #1,151
  • Oct 20, 2010 11:03am Oct 20, 2010 11:03am
Vic, Here's a NZD/USD 4 hour chart.

Attached Image
  • #1,152
  • Oct 21, 2010 8:53am Oct 21, 2010 8:53am
Quoting vicky_ag
Dom, Ben

Here's an update. Stopped out on the NZD/USD trade. GBP/CAD trade has also come to naught.

NZD/USD entry was high and failure of a clean break of the high were the reason I closed the trade.

Thoughts from your side?
the gbpcad hasnt triggered on anything but the daily timeframe with stops around 6470.. which hasnt been hit yet.. weekly still isnt triggered yet..
nzd/usd is doing well... post charts I dont know what time frame your looking at..

take a look at the usdmxn trade as well we need to move stops again as it breaking low again...
  • #1,153
  • Oct 24, 2010 9:27am Oct 24, 2010 9:27am
Quoting domino
the gbpcad hasnt triggered on anything but the daily timeframe with stops around 6470.. which hasnt been hit yet.. weekly still isnt triggered yet..
nzd/usd is doing well... post charts I dont know what time frame your looking at..

take a look at the usdmxn trade as well we need to move stops again as it breaking low again...
Domino, stops around 6470? Isn't that too high..the previous high around the short break was 6242.

N/U was on daily, the pair has broken low.
  • #1,154
  • Oct 25, 2010 8:32am Oct 25, 2010 8:32am
Quoting vicky_ag
Domino, stops around 6470? Isn't that too high..the previous high around the short break was 6242.

N/U was on daily, the pair has broken low.
no its not to high if a wave is wider and moving more there is more volatility and so you need to adjust for that..

on the NZD/Usd this isnt a trade im really tracking but looking at the chart I dont see any low breaks..
  • #1,155
  • Oct 25, 2010 8:52am Oct 25, 2010 8:52am
BTW here are some updates on posted trades..

real trigger at 1.70 on gbpaud but took it at 1.63 cause we were late
trigger on usdmxn at 12.80

gbpaud=1.5799
usdmxn=12.300
  • #1,156
  • Oct 25, 2010 8:53am Oct 25, 2010 8:53am
GBP/CAD TRIGGERED
  • #1,157
  • Oct 25, 2010 10:10am Oct 25, 2010 10:10am
Quoting domino
GBP/CAD TRIGGERED
I'm on on the G/Cad as well. Would you consider this one of the better death roll setups? Are there any recent slingshot examples you see right now?
  • #1,158
  • Oct 25, 2010 11:59am Oct 25, 2010 11:59am
Quoting Benevolent
I'm on on the G/Cad as well. Would you consider this one of the better death roll setups? Are there any recent slingshot examples you see right now?
no I wouldnt rate is not wide enough. formation around the resistance points are rough and not clear.. this is a poor setup but its a setup
  • #1,159
  • Oct 26, 2010 6:43am Oct 26, 2010 6:43am
Hi Domino,

well-done, for the good job you doing here, please what do you type on bloom to give you the order flow snapshot.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,160
  • Oct 27, 2010 1:05pm Oct 27, 2010 1:05pm
Quoting domino
no its not to high if a wave is wider and moving more there is more volatility and so you need to adjust for that..

on the NZD/Usd this isnt a trade im really tracking but looking at the chart I dont see any low breaks..
Domino, NZD chart

http://content.screencast.com/users/...10-27_2304.png

Though it can now be argued the wave break doesn't look good. and for gbp/cad, how wud you say the wave was wider or smaller?
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