This is no test down we go 14060 ?
- #17,382
- Mar 25, 2011 11:45am Mar 25, 2011 11:45am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
Check the power of bouncing up into today's opening price (and POC) and getting rejected (twice) to the pip, to then be met with the most recent (yellow) ND volume bar and heading down 50-60 pips after that.
We're in a supply zone now, but demand is not convincing to me - a possible bounce and failure up to the DPP @ 1.41495 could have us revisit 1.4084 (& associated support) and my solid blue 1.376-1.386 TL.
Was just thinking that myself - hard to read from volume, although a based has formed. It's VERY interesting to see the ~20 pips of effort concerted move up in the last minutes of the H1 bar. I will be very interested to see where they close the week; I don't believe we are done to the downside. The Friday afternoon could be one of those drift-up on no news days.
But mostly am documenting here and to my journal:
1) After the prev open rejection and POC, the DPP was indeed rejected.
2) Did not have my (thin red) TL in place, adding to confirmation of further lack of demand - only needed a <5pip SL here
3) That "~20 pips of effort concerted move up in the last minutes of the H1 bar" in the previous hour - what a trick - I was just documenting over in the UJ forum how suspect I am of those - here is a perfect example of the deceptiveness at work - I believe it to be deceptive SM and algos at work there - really, #1 & #2 above along with ND should have been the stickler and sign.
Will have to post these to my forehead over the weekend!
It was another opportunity to add shorts.We're 30 pips from yesterday's low of 1.4053; is this stopping volume and a SO? Probably not with that honkin' big H1 bar closing so low, although 15m to go.
Oh, and check the combo of USD strength and the prospect of the CDN gov't failing in USDCAD in the next 2 hours - I think we've got some upside potential there at least to 98.6!
- #17,383
- Mar 25, 2011 11:51am Mar 25, 2011 11:51am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
Got a nice short off a hidden test (low volume UT) into a high volume trigger.
We had a double top, high volume downbar closing on it's low (red line 1)... trigger level. Red line 2 low volume UT test of trigger, Red line 3 entry bar.
I will be adding your notes to my journal. Long live the VSA forum!
- #17,384
- Mar 25, 2011 11:56am Mar 25, 2011 11:56am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
That's it. Kudos and nice trade - that's the point where I missed adding shorts.
I will be adding your notes to my journal. Long live the VSA forum!
Edit... although there was a similar double top set-up on EU twice... once higher up and then the double DPP rejection.
Today's zone = Tomorrow's opportunity!
- #17,385
- Mar 25, 2011 11:59am Mar 25, 2011 11:59am
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
That trade was oil not EU... I only had one failed long on EU today... missed all the downside fun so no Kudos for me
Edit... although there was a similar double top set-up on EU twice... once higher up and then the double DPP rejection.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #17,388
- Mar 25, 2011 12:08pm Mar 25, 2011 12:08pm
That's it. Kudos and nice trade - that's the point where I missed adding shorts.
I will be adding your notes to my journal. Long live the VSA forum!
- #17,389
- Mar 25, 2011 12:08pm Mar 25, 2011 12:08pm
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
That trade was oil not EU... I only had one failed long on EU today... missed all the downside fun so no Kudos for me
Edit... although there was a similar double top set-up on EU twice... once higher up and then the double DPP rejection.
LOL, you know, I was looking at the symbol and couldn't figure it out, but said "hey, looks exactly like a 5M/15M euro chart! Let's chalk it up to correlation and a hard week! 
You're spot on right - very similar principle & rejection in EU, as I blabbed about in my previous posts!
- #17,390
- Mar 25, 2011 12:09pm Mar 25, 2011 12:09pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #17,391
- Mar 25, 2011 12:11pm Mar 25, 2011 12:11pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
If your decision works don't pat yourself too much on the back, as much as you think you made a good move chance played a big roll, likewise if your decision turns out to be a bust don't beat yourself up either. Something’s you just can't control. And the forex!! is one of them.
Today's zone = Tomorrow's opportunity!
- #17,392
- Mar 25, 2011 12:13pm Mar 25, 2011 12:13pm
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
If your decision works don't pat yourself too much on the back, as much as you think you made a good move chance played a big roll, likewise if your decision turns out to be a bust don't beat yourself up either. Something’s you just can't control. And the forex!! is one of them.
I fail plenty of trades, and the above were kind of in that league. (ie., did not take a trade) I really believe in value from learning from other's posts. I am open to criticism and learning is life long. Plus, it's Friday, and mindsets change a little.
BTW, good call on getting down to 1.4060.
- #17,393
- Mar 25, 2011 12:27pm Mar 25, 2011 12:27pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
BTW, good call on getting down to 1.4060.
...
Today's zone = Tomorrow's opportunity!
- #17,394
- Mar 25, 2011 12:28pm Mar 25, 2011 12:28pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Got out at BE on EU and made a nice return on oil so no accounts blown on my end.
Pshhhhhhhhhhhhh...
I was never under the assumption that you would be blowing an account...wouldn't have vouched for ya if that was the case...lol...
Ya could just smell something cooking at the levels they brought back up and rejected...Sellers Shit scared of the rushing bull...Bulls confused by the weekly rejection...
Chaos and anarchy and the bulk of the drop after London close...
This is the kinda stuff that keeps ya scratching your head on one of those...What'd I miss...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #17,395
- Mar 25, 2011 12:30pm Mar 25, 2011 12:30pm
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
Oh yeah you don't bash him for not posting any charts
LOL, touché ! I needed that ... breaks up the Friday and week ending monotony! (And sooo well deserved too!)1.4150 was a Support today morning but it was broke my strong down bar & the nest candle was down bar so we confirm its broke. Now support became a resistance. When the price arrive 4150 area the test was done & volume is normal.. so this trade was gr8 guys.
- #17,396
- Mar 25, 2011 12:30pm Mar 25, 2011 12:30pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Congrats on the oil trade...
Pshhhhhhhhhhhhh...
I was never under the assumption that you would be blowing an account...wouldn't have vouched for ya if that was the case...lol...
Ya could just smell something cooking at the levels they brought back up and rejected...Sellers Shit scared of the rushing bull...Bulls confused by the weekly rejection...
Chaos and anarchy and the bulk of the drop after London close...
This is the kinda stuff that keeps ya scratching your head on one of those...What'd I miss...
Today's zone = Tomorrow's opportunity!
- #17,397
- Mar 25, 2011 12:34pm Mar 25, 2011 12:34pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Agreed... I have been scratching my head all day on that EU downmove when I should have been using those fingers to enter some shorts. Ah well... onto next week.
Buwahahahahaha....
I was short side and waited for the touch...took a double lot on anticipation and hammered a couple quickes for extra measures...Tip of the scale even lead me into a couple nice AUDUSD shorties and took EJ for a little ride here as well...
I am out of all trades now...but here's the chart with the retrace and EMA rejection...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #17,398
- Mar 25, 2011 12:39pm Mar 25, 2011 12:39pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Now that Brother Mal ain't around, maybe I can sneak a chart with EMA's on it...
Buwahahahahaha....
I was short side and waited for the touch...took a double lot on anticipation and hammered a couple quickes for extra measures...Tip of the scale even lead me into a couple nice AUDUSD shorties and took EJ for a little ride here as well...
I am out of all trades now...but here's the chart with the retrace and EMA rejection...
Today's zone = Tomorrow's opportunity!
- #17,399
- Mar 25, 2011 12:41pm Mar 25, 2011 12:41pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Well at least you have enough respect to have volume on your charts... now where is that cleanup report button
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!