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Price is everything

  • #18,441
  • May 23, 2011 9:08pm May 23, 2011 9:08pm
While watching Sam Seidens videos he strongly pointed out that when scalping the three minute chart he was trading fx futures and not spot forex. Has anyone else scalped fx futures, and if so how did it pan out with transaction costs?
Shapeshift greed and catch em' off guard
  • #18,442
  • May 23, 2011 9:09pm May 23, 2011 9:09pm
Here are the gbp/usd levels I'll be watching in 8 hours
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  • #18,443
  • May 23, 2011 9:15pm May 23, 2011 9:15pm
Quoting frankkn
Here are the gbp/usd levels I'll be watching in 8 hours
Thanks franknn, ill take a look, but this week defo isnt a currency trading week for me
  • #18,444
  • Edited 9:42pm May 23, 2011 9:32pm | Edited 9:42pm
Alex, remember that box in the sand, which is broken and turned into supply zone.. just trading the box range.. until it's cleared...

will add stop @be to current trade..

edit: closed with +12.. seems quite times

Quoting Orbital
Kenny i can see the lower order as something i would have taken, was the higher sell based on the scrambled supply to the left?
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  • #18,445
  • May 23, 2011 10:04pm May 23, 2011 10:04pm
natural gas

looking like it is going to break below h4 pole resistant ie false break.
I am shorting this
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  • #18,446
  • May 23, 2011 10:12pm May 23, 2011 10:12pm
Quoting Orbital
Guessing game with crude right now, the bounce point was interessting though.

Tough call on whether or not weve turned into an uptrend now:
Attachment

1hr chart definitely looking good =/
Are you in favor of MA.?
But from what I see ..price is still below h4/daily sma50 which indicates downtrend
I am still in favor for shorts.
  • #18,447
  • Edited May 24, 2011 12:16am May 23, 2011 10:48pm | Edited May 24, 2011 12:16am
Quoting andy9775
Ive been following this thread for the last few days and Im enjoying it. Ive recently switched to pure PA/support and resistance/trend lines.

Anyway I want to make sure Im getting this right. Was a little late for this trade and hoping it would pull back to the 1.40550 area. First chart has s/r level on H4 also showing spinning top (as well as H1) then m5 shows testing of 550 are with long wick candles (significant selling pressure). Then finally a break of short term trendline with some hesitation. I assume since it ran I was correct. Appreciate...

Watch out for 1.40000 level
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  • #18,448
  • May 23, 2011 11:17pm May 23, 2011 11:17pm
Quoting Myrza
Are you in favor of MA.?
But from what I see ..price is still below h4/daily sma50 which indicates downtrend
I am still in favor for shorts.
Don't like using MA's or anything of that sort really, i sometimes use keltner channels when scalping but ive increasingly tried to stay away from that.

EU is set for 1.4136 and the 1.417x line for now, so if it breaks the current top crude should follow in its path upwards.

Either way ill go over some charts in a second, need to buy some cigarettes.
  • #18,449
  • May 23, 2011 11:27pm May 23, 2011 11:27pm
Hi Redsword,

I am a beginner in forex trading please help me how can i start learning about forex trading. Could you please provide me some articles to read out about how to trade forex.

Thanks!


Quoting redsword11
Hello all, just wanted to post some price configurations that l trade often. I am more or less a swing trader or range trader. They are essential enguilfing whipsaw patterns at key levels and and work well in my trading plan. I also reduce all noise from my charts as its just a distaction to me. Hope you see these too and take advantage. They occur on all tfs and any pair, Got some examples

http://i42.tinypic.com/15zmp8z.gif

http://i41.tinypic.com/24qsnrd.gif

not sure if the links will work, first time l am posting anything....
  • #18,450
  • May 24, 2011 12:08am May 24, 2011 12:08am
Quoting fxindicators
Hi Redsword,

I am a beginner in forex trading please help me how can i start learning about forex trading. Could you please provide me some articles to read out about how to trade forex.

Thanks!
Kenny was kind enough to compile a .pdf full with lessons based on what red has taught in here, Sam seiden teachings, links to the relevant articles provided by emene, charts provided by the senior traders in this thread and many more resources dedicated to THIS PARTICULAR kind of trading.

http://www.forexfactory.com/showthread.php?t=288142 This is the link, i recommend you read it and ask questions in Kennys thread, we regularly watch the thread over there and try to answer questions as detailed as possible.
  • #18,451
  • May 24, 2011 12:11am May 24, 2011 12:11am
Back to trading:

Crude has bearish gartley forming, supply zones are marked based on M15 and M5... take it early or wait for confirm
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  • #18,452
  • May 24, 2011 2:22am May 24, 2011 2:22am
Big picture on crude. Already travelled a lot today. We still are in Ken's box, but in a triangle approach, I would aim at the green line as TP should a breakout North happen.

have a good day all
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Hello.
  • #18,453
  • May 24, 2011 2:55am May 24, 2011 2:55am
Tricky situation, buy config in structure (flag) but supply directly above it...

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  • #18,454
  • May 24, 2011 3:03am May 24, 2011 3:03am
High and tight flag on small TF. Consuming the supply you're talking about.

Can't really say as I don't have any access to MT4 from today to next week and maybe more, because I trade from my work office and apparently i'm using a lot of bandwith and it has been observed by the direction.

So, no more charts from my end for a quite long time. And as I don't study week end charts , this probably means no charts for a loooooong time.

But anyway, keep trading supply and demand levels - engulfings will show you those levels - find confluences with horizontals or diagonals, and above all, enjoy your trades cause trading must be fun.

Be safe out there

Quoting Orbital
Tricky situation, buy config in structure (flag) but supply directly above it...

Attachment
Hello.
  • #18,455
  • May 24, 2011 3:06am May 24, 2011 3:06am
Hey guys,

I have been following and trading the concepts of supply and demand for a good while now. Today a friend of mine gave me the link to this thread. I'm just subscribing and later I'll share some of my ideas here.

Cheers,

Dreadart
  • #18,456
  • May 24, 2011 3:08am May 24, 2011 3:08am
can anybody give me a indicator of horizontal lines sound alert system
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #18,457
  • May 24, 2011 3:12am May 24, 2011 3:12am
Here.

Quoting mangalesh
can anybody give me a indicator of horizontal lines sound alert system
Attached File(s)
File Type: mq4 alert.mq4   4 KB | 390 downloads
Hello.
  • #18,458
  • May 24, 2011 3:26am May 24, 2011 3:26am
Quoting emene
High and tight flag on small TF. Consuming the supply you're talking about.

Can't really say as I don't have any access to MT4 from today to next week and maybe more, because I trade from my work office and apparently i'm using a lot of bandwith and it has been observed by the direction.

So, no more charts from my end for a quite long time. And as I don't study week end charts , this probably means no charts for a loooooong time.

But anyway, keep trading supply and demand levels - engulfings will show you those levels...
*Sigh* =/

I'm already pretty much done for the day, so i might be back later. Also whats the deal with fucking bandwidth =/
  • #18,459
  • May 24, 2011 4:09am May 24, 2011 4:09am
shorted euro at 4084 with 20pips sl
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  • #18,460
  • May 24, 2011 4:55am May 24, 2011 4:55am
can somebody recommend a good text book for learning and understanding Price Action.
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