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Price is everything

  • #13,901
  • Mar 30, 2011 2:01am Mar 30, 2011 2:01am
Closed 1.4064. Watching for long.
  • #13,902
  • Mar 30, 2011 2:15am Mar 30, 2011 2:15am
Quoting redsword11
just ask yourself, who the fcuk would sell @ these levels? Load of manipulated junk
im confused, im beginning to learn from your thread that the market is manipulated to sucker us retailers in, but are u saying looney will drop pre nfp and then head north after nfp?
  • #13,903
  • Mar 30, 2011 3:32am Mar 30, 2011 3:32am
Out of usdcad. Not my kind of PA. Sleep time for me. Good trading see ya in a few hours.
  • #13,904
  • Mar 30, 2011 4:04am Mar 30, 2011 4:04am
Hi,

I not sure i'm correct or not.

PLease comment.

Thank You

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Today's You was Your previously Thought.
  • #13,905
  • Mar 30, 2011 4:17am Mar 30, 2011 4:17am
Hello traders,

I'm very active over on the Ken Lee/EO hater threads and i've been learning price action based trading for a couple of years now. I've been watching this thread from afar for a while and am keen to add elements of it into my trading too.

I took this entry based on the highlighted area which I saw as supply. What I like to do is buzz down to M1 and watch out for high volume M1 candles to appear which often give an early heads up that supply or demand is coming in at our highlighted areas.

I had a very tight stop of 12 pips and have already banked half here.

Would love to get some feedback on this trade please
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  • #13,906
  • Mar 30, 2011 4:21am Mar 30, 2011 4:21am
risking it.

GU from last night stopped out.
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  • #13,907
  • Mar 30, 2011 4:27am Mar 30, 2011 4:27am
I took the same trade as you for much the same reasons, 1min had one of my repeating regular (bearish) divergence based reversal/pullback set-ups on whch I timed entry, there was a lso an overbought/oscillator extremews based repeating reversal/pullback set-up on 5min to support the 1min entry ...I assume all counter-trend set-ups are pullbacks until pa tells me otherwise...I thought it was a hi-probability trade but am always lookimg to get back with trend after such pullbacks if something sets-up.

What are you using to see volume ?

G/L

Quoting Trotty
Hello traders,

I'm very active over on the Ken Lee/EO hater threads and i've been learning price action based trading for a couple of years now. I've been watching this thread from afar for a while and am keen to add elements of it into my trading too.

I took this entry based on the highlighted area which I saw as supply. What I like to do is buzz down to M1 and watch out for high volume M1 candles to appear which often give an early heads up that supply or demand is coming in at our highlighted areas.

I had a very tight stop of 12 pips and...
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ex member
  • #13,908
  • Mar 30, 2011 4:37am Mar 30, 2011 4:37am
Quoting bbmac
I took the same trade as you for much the same reasons, 1min had one of my repeating regular (bearish) divergence based reversal/pullback set-ups on whch I timed entry, there was a lso an overbought/oscillator extremews based repeating reversal/pullback set-up on 5min to support the 1min entry ...I assume all counter-trend set-ups are pullbacks until pa tells me otherwise...I thought it was a hi-probability trade but am always lookimg to get back with trend after such pullbacks if something sets-up.

What are you using to see volume ?

G/L

Great, many thanks for taking the time to answer there.

I run two platforms with just the basic tick volume indicator (with better volume indi). It's always served it's purpose for me but I run two platforms to check for broker anomalies.

Thanks again mate.
  • #13,909
  • Mar 30, 2011 4:41am Mar 30, 2011 4:41am
ie 1st potential obstacle to downside is this previous swing hi x 2 on 5min also a swing hi on 15min...could be res becomes support here (rbs) ? Will see what sets-up here if anything re getting long again.

G/L
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ex member
  • #13,910
  • Mar 30, 2011 4:41am Mar 30, 2011 4:41am
No probs, thanx to you for the info too.

G/L

Quoting Trotty
Great, many thanks for taking the time to answer there.

I run two platforms with just the basic tick volume indicator (with better volume indi). It's always served it's purpose for me but I run two platforms to check for broker anomalies.

Thanks again mate.
ex member
  • #13,911
  • Mar 30, 2011 4:49am Mar 30, 2011 4:49am
Quoting bbmac
ie 1st potential obstacle to downside is this previous swing hi x 2 on 5min also a swing hi on 15min...could be res becomes support here (rbs) ? Will see what sets-up here if anything re getting long again.

G/L
Cheers.

A setup long should always close out your short
  • #13,912
  • Mar 30, 2011 5:10am Mar 30, 2011 5:10am
Quoting Trotty
Cheers.

A setup long should always close out your short
I was out the short by the time of the 3min set-up...a repeating hidden divergence based set-up shown below...at that previous 5min x 2 / 15min swing hi (potential rbs) with Daily R1 pivot and 61.8% of the last 5/15min swing up...I think it got helped by that 1100am uk time Cbi date release...anyways flat again now taking +14.4 from it.

Re the gteneral point we were discussing, on a counter trend trade I look at the potential rbs/supp on my intermediate (middle) t/f's and see them as first counter trend obstacle, preferring a with trend set-up if it devlops.

G/L
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ex member
  • #13,913
  • Mar 30, 2011 5:21am Mar 30, 2011 5:21am
Quoting bbmac
I was out the short by the time of the 3min set-up...a repeating hidden divergence based set-up shown below...at that previous 5min x 2 / 15min...
I bailed when the hammer printed for a similar pip haul overall.

I'll keep involved here, i'm always keen to learn new areas to keep honing them skills....
  • #13,914
  • Mar 30, 2011 5:57am Mar 30, 2011 5:57am
Quoting redsword11
Attachment


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one position out @ tg
  • #13,915
  • Mar 30, 2011 5:57am Mar 30, 2011 5:57am
Quoting redsword11
bought loony @ 0.97357


stops @ 0.97166


stopped
  • #13,916
  • Mar 30, 2011 6:04am Mar 30, 2011 6:04am
Quoting redsword11
Attachment


scalping NG

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had multiple entries, all closed
  • #13,917
  • Mar 30, 2011 6:46am Mar 30, 2011 6:46am
more upside at audusd with 1.0201 demand intact.upper channel is at 1.0380 area.
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Gold Expedition Return This Year: -15.9%
  • #13,918
  • Mar 30, 2011 7:08am Mar 30, 2011 7:08am
http://i55.tinypic.com/10400ec.gif

  • #13,919
  • Mar 30, 2011 7:08am Mar 30, 2011 7:08am
GU, bullish setup on the chart. This is NOT a trade recommendation.
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Hello.
  • #13,920
  • Mar 30, 2011 7:08am Mar 30, 2011 7:08am
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Gold Expedition Return This Year: -15.9%
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