DislikedBluehills: Do you have a link for the Seiden webinar today? I couldn't find it at fxstreet.
Thanks.Ignored
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Dislikednice trades Blue. It seems the trend is still very strong that these smaller levels are easily profitable.Ignored
Dislikednice trades Blue. It seems the trend is still very strong that these smaller levels are easily profitable.Ignored
DislikedYou know I think i'm sensing a common thread in this thread...
http://www.youtube.com/watch?v=HWdVRSeXXWQIgnored
DislikedThanks for the excellent point Porkpie.
I'm going to re-iterate just so the point is not missed.
When the trend is very strong the weaker and lower levels will work for entries. The problem is that this is the case the minority of the time.
I'm much more profitable when the trend isn't so strong, because when the trend is weaker my orders are filled. When the trend is super strong price doesn't have a chance to make it up to the truly quality levels.
When price finally does decide to correct and head up to the more quality...Ignored
DislikedHere is the dollar index. The first chart is a 4h and the second is a daily.
I highlighted (on the 4h) two volume spikes.Ignored
DislikedThanks for the excellent point Porkpie.
I'm going to re-iterate just so the point is not missed.
When the trend is very strong the weaker and lower levels will work for entries....Ignored
DislikedYes well put. This is the dilema using supply and demand. But if using the weaker levels, keeping an eye on bigger picture supply/demand should keep one out of trouble in a strong trend.
The current GU hourly supply level is a case in point (5615-5645). The original price drop from that level is just ok, but the consolidation prior to return is one other clue to its weakness. But the biggest clue is that we have just bounced off a daily demand level. Taking the weaker levels close to opposing higher time frame levels is a money loser. We also...Ignored
Disliked<...clue to its weakness.> I reckon "its" referred to the 5615-5645 supply zone (i.e. the zone is weak) & not the returning price (i.e. not that the price was weak; the returning price in this case was hesitant & weak but it was one of several factors that made the supply zone weak) ?
<... just bounced off a daily demand level> I assume you were referring to the 5502 - 5536 level on 21 Sep?
Thx.Ignored
DislikedHi Frank
When you said "weaker and lower levels" do you mean s/d levels at lower timeframes before those at higher timeframes which are further away?
When you said "quality levels" do you mean s/d levels at higher timeframes? or more than that?
Am still learning. Thx.Ignored
DislikedYes, the level wasn't strong but still a confirmation entry candidate. And yes, considering the consolidation on its way back to the level severly reduces your risk reward as a target it wasn't a great set-up at all.
5477-5277 area is my daily demand level on GU.Ignored
DislikedHi Frank
When you said "weaker and lower levels" do you mean s/d levels at lower timeframes before those at higher timeframes which are further away?Ignored
DislikedVery nice. I need to find a quality USDX candlestick chart. Is that ThinkorSwim? I took a loss as I was going long USD into your supply level this morning but its all gravy. It would have been a great spot to close out my shorts. Easily avoidable so worries about that as I'll see it next time. Can't win them all!
Anyways here's the next short I'm considering. What do you guys think about this level with the USDX coming off supply?Ignored