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Price is everything

  • #19,921
  • Jul 19, 2011 4:50pm Jul 19, 2011 4:50pm
Quoting Orbital
This has been long overdue and has been coming for a while now for me personally.

I've spent countless hours in this thread for the past months in total, seen people come, and seen people go as fast as they came. I've made some pretty invaluable friends in here and learned more about trading markets than any place else on the internet and books

At this stage i feel like i have learned as much as i can from S/D techniques and PA and quite frankly i feel that i have contributed as much as i can regarding techniques i use, reiterate techniques...
I can never thank you enough for your time and energy of input. You've already said deep and profound any number of times..i look forward to seeing you again sometime. Meanwhile, i know that we'll all miss you.
All systems of divination, like music itself,work through patterns.
  • #19,922
  • Jul 19, 2011 4:50pm Jul 19, 2011 4:50pm
Quoting Orbital
This has been long overdue and has been coming for a while now for me personally.

I've spent countless hours in this thread for the past months in total, seen people come, and seen people go as fast as they came. I've made some pretty invaluable friends in here and learned more about trading markets than any place else on the internet and books

At this stage i feel like i have learned as much as i can from S/D techniques and PA and quite frankly i feel that i have contributed as much as i can regarding techniques i use, reiterate techniques...
'Twas about time too... lol

You are right about one thing... keep it simple.

Serious business now and you need to focus. FF is a distraction.

Speak soon buddy
  • #19,923
  • Edited 7:35pm Jul 19, 2011 5:44pm | Edited 7:35pm
Quoting Orbital
Take care guys and have fun on your journey.

Kind regards,
Alexander
Stay in touch brother

Anyways here's the EU daily SD map

And a bonus M5 level that we're close to

Edit:

Three entries, all to BE here (3rd chart).
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  • #19,924
  • Jul 19, 2011 7:50pm Jul 19, 2011 7:50pm
Got in on that M5 trade. Thanks for the heads up.
What is any ocean but a multitude of drops?
  • #19,925
  • Jul 20, 2011 1:05am Jul 20, 2011 1:05am
eu +8p...im still learning the best way to trade S&D for myself. Seems scalping is less stressful so far.
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  • #19,926
  • Jul 20, 2011 1:10am Jul 20, 2011 1:10am
Quoting Orbital
This has been long overdue and has been coming for a while now for me personally.
..........
Kind regards,
Alexander
Thanks Alex for all the contributions u made here. I'vn't finished reading the whole thread yet but already seeing ur wisdom and kindness here.

Best wishes to u, and happy pips!
  • #19,927
  • Jul 20, 2011 1:16am Jul 20, 2011 1:16am
Will price bounce to the upper blue clust? We'll see...
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  • #19,928
  • Jul 20, 2011 1:53am Jul 20, 2011 1:53am
Give it a try, not sure if my tp should be higher or not. Anyway, good pinbar and tl reject, practice and brave are needed.
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  • #19,929
  • Edited 2:37am Jul 20, 2011 2:19am | Edited 2:37am
Quoting Verb
Selling these.
http://www.forexfactory.com/attachme...1&d=1310672550
Averaged out. Sell 1 running at no risk. Pic 1 of H1, Pic 2 of H4.
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  • #19,930
  • Jul 20, 2011 2:22am Jul 20, 2011 2:22am
Quoting PandaBBQ
Give it a try, not sure if my tp should be higher or not. Anyway, good pinbar and tl reject, practice and brave are needed.
tp hit, +17p

EU had the same S&D at the same time with EJ. I didnt put my trigger coz there's no good candlestick pattern for EU. Still learning so keep cautious.
  • #19,931
  • Jul 20, 2011 3:30am Jul 20, 2011 3:30am
Would you guys have taken this trade? I got in on the bullish engulfing right at a strong demand level.

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What is any ocean but a multitude of drops?
  • #19,932
  • Jul 20, 2011 4:15am Jul 20, 2011 4:15am
So hesitated when put my trigger. Since i mainly trade on 15min tf, im not sure hw to deal with these setups when the smaller tf conflict b/w the bigger one, like 4H, 1H.

Before enetered, its a nice setup on 15min, but not looking as good as 4H/1H. Just gave it a try with tight sl(my RR is not looking good neither). Glad i did it, GU +22p.
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  • #19,933
  • Jul 20, 2011 5:33am Jul 20, 2011 5:33am
Quoting Xhale12
Would you guys have taken this trade? I got in on the bullish engulfing right at a strong demand level.

Attachment

Price rallied away from that level strongly so that's good because there is a significant imbalance of supply and demand. However there are a couple of things that would make me wary of the level.

1) Check out the daily it's a huge clusterfuck
2) Price spent a lot of time chopping around at that level before it rallied

But regardless of those factors, when price returned to the level there was rejection price action showing that you may reasonably assume there are more unfilled orders lurking.

So chalk it up on that one bro. One thing I try to take into account in addition to risk:reward is my realized risk:reward. Even though my initial stop and TP are generally around 1:2-1:3 my realized risk:reward hovers between 1:6 and 1:8, because I get my stop to BE as soon as possible.

Typically I'll wait for price to engulf my entry, and if the engulf is less than 10 pips I'll move my stop (in the case of a long) to just below the M1 low below my entry, then to BE at +10. Next I set price alerts and remove myself from the equation and let it either take me out for a loss or hit my initial TP which was around 2 to 3 times my initial risk. So you will get stopped for a small loss quite a bit but as long as you stick to your guns with a big TP and actually let the target get hit, your long run average win will far outweigh your average loss
  • #19,934
  • Jul 20, 2011 5:47am Jul 20, 2011 5:47am
Thanks man. On the daily it looked to me like we were currently in a demand zone... I am still trying to develop an eye for spotting these zones. Can you give me your opinion on how they are different than just typical support and resistance lines?

I actually doubled down on the further dip, and closed it out with a small profit.

Appreciate your insight.

Quoting frankkn
Price rallied away from that level strongly so that's good because there is a significant imbalance of supply and demand. However there are a couple of things that would make me wary of the level.

1) Check out the daily it's a huge clusterfuck
2) Price spent a lot of time chopping around at that level before it rallied

But regardless of those factors, when price returned to the level there was rejection price action showing that you may reasonably assume there are more unfilled orders lurking.

So chalk it up on that one bro. One thing I try...
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What is any ocean but a multitude of drops?
  • #19,935
  • Jul 20, 2011 5:56am Jul 20, 2011 5:56am
Quoting Xhale12
Thanks man. On the daily it looked to me like we were currently in a demand zone... I am still trying to develop an eye for spotting these zones. Can you give me your opinion on how they are different than just typical support and resistance lines?

I actually doubled down on the further dip, and closed it out with a small profit.

Appreciate your insight.
I'll post a chart in Romancing the price, the thread for questions
  • #19,936
  • Jul 20, 2011 6:19am Jul 20, 2011 6:19am
Quoting Verb
Averaged out. Sell 1 running at no risk. Pic 1 of H1, Pic 2 of H4.
Hi Verb,
Great to see some trading managment.Thanks for posting that.

KM
  • #19,937
  • Jul 20, 2011 6:25am Jul 20, 2011 6:25am
Quoting Verb
Averaged out. Sell 1 running at no risk. Pic 1 of H1, Pic 2 of H4.
Great trades and charts Verb.It's look like someone bring some new very powerful piece in this thread.It is way to go man.

Have a good trading.

FX
  • #19,938
  • Jul 20, 2011 8:57am Jul 20, 2011 8:57am
Close 2/3 for EU, EJ, let the rest run. As u can see, im not sure which's the real demand area for EJ, so i draw two blue clusts. Still learning.

Put entry also coz the flag broken.
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  • #19,939
  • Jul 20, 2011 9:00am Jul 20, 2011 9:00am
Quoting PandaBBQ
Close 2/3 for EU, EJ, let the rest run. As u can see, im not sure which's the real demand area for EJ, so i draw two blue clusts. Still learning.

Put entry also coz the flag broken.
also, when checking the EJ before the entry, it looks like big SHS to me. Sry for my poor english.
  • #19,940
  • Jul 20, 2011 10:05am Jul 20, 2011 10:05am
Excuse me if this isn't the correct forum, but can someone clarify, which supply/demand areas are more important? Is it larger time frames or the smaller ones? ie. if trading the 1 hour, how important is the time frames that are lower?
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