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Price is everything

  • #18,881
  • Jun 3, 2011 1:27pm Jun 3, 2011 1:27pm
The aud/usd showed us today the top characteristic of the forex market: high volatility. I was clearly long. But the market moved down almost hitting the pivot, before reversing back up


I’m up +40 pips and +69 pips on both my daily and 4 hr trades…once again price showed us that they move not the market, and contain all information, trading signals and what other insights we need to profit from the market…


Psychology is the key.


Follow my journal
http://www.forexfactory.com/showthre...254704&page=33
  • #18,882
  • Jun 3, 2011 1:38pm Jun 3, 2011 1:38pm
Trade is pretty self explanatory... broken doji = buy signal when being engulfed so i bought it... really didnt expect this to happen today.

At the same time i had the wheat trades going on.

I did take 1 hit for minus 30 on an EU short, then another 20 on an eu short. I closed this position out now for about 150 and have reversed my position to a short, giving this about a 50-60 pip stop to be honest. Ill explain lateron in a more detailed post why i took this out and went short just now.

Sorry for the absence ive just been really occupied with over 9000 different things i need to do.

be back later
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  • #18,883
  • Jun 3, 2011 1:41pm Jun 3, 2011 1:41pm
swiss franc
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  • #18,884
  • Jun 3, 2011 1:57pm Jun 3, 2011 1:57pm
Quoting ingmarforex
swiss franc
Thats an sp500 chart that youve posted mate

Nothing new on the swissy really, that 1.618 is the last creative spot i have... after that i have no idea what the fuck is going on.

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  • #18,885
  • Jun 3, 2011 2:00pm Jun 3, 2011 2:00pm
Quoting Orbital
Thats an sp500 chart that youve posted mate

Nothing new on the swissy really, that 1.618 is the last creative spot i have... after that i have no idea what the fuck is going on.

Attachment

lol it is the chf index
  • #18,886
  • Jun 3, 2011 2:12pm Jun 3, 2011 2:12pm
Quoting Orbital
Thats an sp500 chart that youve posted mate

Nothing new on the swissy really, that 1.618 is the last creative spot i have... after that i have no idea what the fuck is going on.

Attachment
LOL, i'll be brave and take a long on the daily on the next solid bull candle we get (if things look good and we don't end up right into supply).

Fawker owes me some long pips from a few weeks ago.
  • #18,887
  • Jun 3, 2011 2:14pm Jun 3, 2011 2:14pm
Quoting ingmarforex
lol it is the chf index
woops ^^ Im a tad bit exhausted already sorry ^^

Closed EU short +13 Done for the day
  • #18,888
  • Jun 3, 2011 2:18pm Jun 3, 2011 2:18pm
also how the fuck did i miss this? fucking trendlines.. sjhould have taken it at the box >.<

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  • #18,889
  • Jun 3, 2011 2:29pm Jun 3, 2011 2:29pm
Quoting Orbital
woops ^^ Im a tad bit exhausted already sorry ^^

Closed EU short +13 Done for the day
No sorry bro
  • #18,890
  • Jun 3, 2011 2:30pm Jun 3, 2011 2:30pm
Quoting Orbital
also how the fuck did i miss this? fucking trendlines.. sjhould have taken it at the box >.<

Attachment
The 1 you show there is a wolve wave http://www.wolfewave.com/

I know a guy he used that only on the eu for scalping in 1min and 5 min timeframes good trader.
  • #18,891
  • Jun 3, 2011 2:36pm Jun 3, 2011 2:36pm
Clusters taken north? Daily supply zone seems more likely for a hard reversal.
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  • #18,892
  • Jun 3, 2011 6:17pm Jun 3, 2011 6:17pm
M15 EU
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  • #18,893
  • Jun 3, 2011 6:36pm Jun 3, 2011 6:36pm
Quoting frankkn
M15 EU
I wouldn't ignore the top two ones,
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Seem like decent places for bounces or for S zones to turn R.

Im not partying tonight so im just gonna finish up charting and do some reading instead, im still holding on slightly onto a bearish bias but we will see how things turn out on monday either way, im hoping to load up a massive amount of shorts actually. Lots of people might get trapped with this upmove and there are a lot of stops just waiting to be tripped.
  • #18,894
  • Jun 3, 2011 6:57pm Jun 3, 2011 6:57pm
Quoting Orbital
I wouldn't ignore the top two ones, Attachment

Seem like decent places for bounces or for S zones to turn R.

Im not partying tonight so im just gonna finish up charting and do some reading instead, im still holding on slightly onto a bearish bias but we will see how things turn out on monday either way, im hoping to load up a massive amount of shorts actually. Lots of people might get trapped with this upmove and there are a lot of stops just waiting to be tripped.
You're definitely right that price could bounce at those levels. I don't consider myself a scalper so much as intra-day. I'm looking for confirmed entries with high r:r and I'm content to not trade those levels, especially considering how extended she is.

I'm not opposed to shorts but I'd have to see lower highs on the H1 and some strong M15 supply levels
  • #18,895
  • Jun 3, 2011 7:03pm Jun 3, 2011 7:03pm
This really is about all its got left and the zones are "rather" far apart, seems logical to play them but there are so many nicer things going on right now, i agree with your 15m zones though. Would still be interessting to see how this works out, mostly to me im confused about how easily this 4hr zone got fucked today, question is if it did get fucked or if it is entrapment. Anyways back to charting in an hour or so... time for a beer, shower another beer an more reading, them some exam preperation


EDIT: Also if anyone has questions or stuff about charts i will be spending some time over the weekend to answer questions to the best of my abilities in case ken and ifmyante arent here.
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  • #18,896
  • Jun 3, 2011 7:14pm Jun 3, 2011 7:14pm
Quoting Orbital
time for a beer, shower another beer an more reading, them some exam preperation
Similar shit here. Cracked a cold one a bit ago, staying in tonight. Instead of a final the last thing I have for school is a presentation to a client. I called off work tomorrow to finish up her portfolio.

No shower for me however, as my woman is across the globe atm.
  • #18,897
  • Jun 3, 2011 7:56pm Jun 3, 2011 7:56pm
Quoting frankkn
Similar shit here. Cracked a cold one a bit ago, staying in tonight. Instead of a final the last thing I have for school is a presentation to a client. I called off work tomorrow to finish up her portfolio.

No shower for me however, as my woman is across the globe atm.

I am completely educated.....So I will just have another beer
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #18,898
  • Jun 4, 2011 9:24am Jun 4, 2011 9:24am
Quoting Rufus
I am completely educated.....So I will just have another beer


I wish I were you
  • #18,899
  • Jun 4, 2011 9:27am Jun 4, 2011 9:27am
Quoting biDc
Clusters taken north? Daily supply zone seems more likely for a hard reversal.
Hey B, the levels you marked are valid. No one knows whether its going to be a reversal or not. Well maybe the big dogs. My point is that instead of looking for shorts you probably have to concentrate on longs.
  • #18,900
  • Jun 4, 2011 3:25pm Jun 4, 2011 3:25pm
i do agree with sharping technical analysis. i know many people don't trust it. but i think, it is the best reflexion of price behavior. when well made, it will generate us an infinite amount of money, in this high volatile Forex market...

cheers...

follow my journal for priceless signals
http://www.forexfactory.com/showthre...254704&page=33
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