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  • #401
  • Sep 14, 2011 7:54am Sep 14, 2011 7:54am
Quoting dboywholived
multiple charts of the same pair? is that what you meant?
some mini inconveniences such as the lines do not stay as it is when switching tf, but overall still works okay for me..
definitely a helpful tool esp when you need to leave the screen...
Yeah, it's the switching tf issue that bugged me.

How are you at coding?
  • #402
  • Sep 14, 2011 8:01am Sep 14, 2011 8:01am
Quoting Ifmyante
Yeah, it's the switching tf issue that bugged me.

How are you at coding?
sad and embarrassed to say, i suck at it
  • #403
  • Edited 12:21pm Sep 14, 2011 10:19am | Edited 12:21pm
Dammit!

Was so busy today that I ignored the alert ringing at me that this beautiful QM had formed.

I wouldn't mind so much but for the fact that price turned to the pip where I had my alert.

I'm so glad the markets will still be here tomorrow
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  • #404
  • Sep 14, 2011 12:43pm Sep 14, 2011 12:43pm
I'm a bit miffed at this, I've missed lots of setups today due to waiting for confirmation at the zone (by the time confirmation came, candle was too big and RR too small)....

So I saw this setup on the dax and thought it looked so good I would enter on the level without confirmation, of course trading law got me again with a 30 pip loss, any idea what I did wrong?

Thanks
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  • #405
  • Sep 14, 2011 1:52pm Sep 14, 2011 1:52pm
Quoting Ultimatus
I'm a bit miffed at this, I've missed lots of setups today due to waiting for confirmation at the zone (by the time confirmation came, candle was too big and RR too small)....

So I saw this setup on the dax and thought it looked so good I would enter on the level without confirmation, of course trading law got me again with a 30 pip loss, any idea what I did wrong?

Thanks
You did nothing wrong! The setup was great and you had some nice confluences, but unfortunately the rumour that Greece would not leave the EuroZone gave equities a big boost and you just got caught in the middle of it. It happens where Fundamentals take over from TA. We all have our fair share of losers, but it comes part and parcel with trading. Just a case of scanning the markets for your next setup.
  • #406
  • Sep 14, 2011 3:30pm Sep 14, 2011 3:30pm
long here off the demand as well as the bull flag pull back stop at BE already

http://www.hotstockmarket.com/image/...600/height/291 (http://www.hotstockmarket.com/image/id/243817/width/600/height/291)
  • #407
  • Sep 14, 2011 5:02pm Sep 14, 2011 5:02pm
Quoting bbakker
You did nothing wrong! The setup was great and you had some nice confluences, but unfortunately the rumour that Greece would not leave the EuroZone gave equities a big boost and you just got caught in the middle of it. It happens where Fundamentals take over from TA. We all have our fair share of losers, but it comes part and parcel with trading. Just a case of scanning the markets for your next setup.
OK thanks,good to know setup was OK, although I think I should have waited for engulfing.
  • #408
  • Sep 14, 2011 5:22pm Sep 14, 2011 5:22pm
Quoting Ultimatus
OK thanks,good to know setup was OK, although I think I should have waited for engulfing.
It was one of these tripple supply levels and you went in on the lowest one. The more conservative short is to take the supply level above it. Alternatively, you could scale in, with a small short at the lower supply level with a SL above the upper supply level another in the middle supply and use the same SL and finally your biggest short at the upper level using the 1-2-3 system with your SL for all three above the extreme. You have to use sound money management of course. Just another way to approach these types of setups with double or triple good levels on top of each other.
  • #409
  • Sep 14, 2011 5:40pm Sep 14, 2011 5:40pm
Looking at it now, price came to the extreme of the second level and just touched the start of the last level which I have around 5440 which would have been the ideal entry with a SL above 5470. As Ifmyante stated earlier, the reason the for failure of the first supply level, is that wick on the h1. Be wary of wicks!

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It takes time to soak it all in! On to the next setup!
  • #410
  • Edited 7:14pm Sep 14, 2011 6:46pm | Edited 7:14pm
Here are my only two trade for the week. I have less and less time to trade each week, these were on limit that I placed at the beginning of the week.

The first is CJ and I made 3R, next is EG and I lost 1R.

Major virtues of limit order levels

1) Strong move, at least 3R from the level
2) Aligned with big TF SD dynamic
3) The level is fresh (big one)

I'm being much more picky with these levels as I'm not looking for confirmation.

In addition to this I've gone through and entered about 15 small limits (across a variety of pairs), trying to diversify away some of the unsystematic risk, and looking at this new account (yep made a new account different from my two other bread and butter accounts) as a portfolio. It would be really cool to trade this way for clients as I only need to manage this account for about an hour betw NY close and TK open.
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  • #411
  • Sep 14, 2011 7:49pm Sep 14, 2011 7:49pm
I took the same EG with a pending.....We must be doing something right
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #412
  • Sep 14, 2011 11:57pm Sep 14, 2011 11:57pm
Quoting frankkn
Here are my only two trade for the week. I have less and less time to trade each week, these were on limit that I placed at the beginning of the week.

The first is CJ and I made 3R, next is EG and I lost 1R.

Major virtues of limit order levels

1) Strong move, at least 3R from the level
2) Aligned with big TF SD dynamic
3) The level is fresh (big one)

I'm being much more picky with these levels as I'm not looking for confirmation.

In addition to this I've gone through and entered about 15 small limits (across a variety of pairs),...

Hi Frankkn



hmmm...?


iam confused as why u took or labled the EG level as a valid supply level ?

as the level above looks more appropriate to me ...

i mean to make it clearer i used a line graph .. (just for illustration)

as before price went south it found support for some time...
u kinda took a supply level within a down move..


i mean ok. your level of choice was support sometime ago... but still ,for the recent action .. it just doesent make sense to me.. ?!?!

no offense mate.. just courios to know your intentions



blue is where i would draw the supply level
and violet is yours ...

thnx
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  • #413
  • Sep 15, 2011 3:25am Sep 15, 2011 3:25am
Been away for a while so I've been reading the thread to catch up.

I could read Orbitals post all day long! I just wish he wouldn't 'sit on the fence' quite so much!!!!!

Keep up the good work my man
  • #414
  • Sep 15, 2011 4:01am Sep 15, 2011 4:01am
AUD/NZD M15

Ok, I'm looking for a reversal pattern to enter long in the blue zone.

What do you guys think?
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  • #415
  • Sep 15, 2011 6:52am Sep 15, 2011 6:52am
Quoting Intel
AUD/NZD M15

Ok, I'm looking for a reversal pattern to enter long in the blue zone.

What do you guys think?
Well,

your analysis proved deadly accurate

Shame about the spread though

But you may well have a nice QM on your hands, so watch the reaction to the levels, and maybe it'll do what a quasi should
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  • #416
  • Sep 15, 2011 8:59am Sep 15, 2011 8:59am
Quoting Ifmyante
Well,

your analysis proved deadly accurate

Shame about the spread though

But you may well have a nice QM on your hands, so watch the reaction to the levels, and maybe it'll do what a quasi should

If you check the daily, I have a confluence of 2 TLs and a well respected S/D area. Something sould happen here. I see a good move upwards, maybe towards the 3200 area with a bounce off 2800 first.

But, with an ADR of 100 pips, it'll take a while
  • #417
  • Sep 15, 2011 9:34am Sep 15, 2011 9:34am
Anyone else take the H4 EU today? I moved my stop to BE very early (+50) because of the clear M30 demand just below.
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  • #418
  • Sep 15, 2011 9:51am Sep 15, 2011 9:51am
Quoting PrymeTyme
Hi Frankkn



hmmm...?


iam confused as why u took or labled the EG level as a valid supply level ?

as the level above looks more appropriate to me ...

i mean to make it clearer i used a line graph .. (just for illustration)

as before price went south it found support for some time...
u kinda took a supply level within a down move..


i mean ok. your level of choice was support sometime ago... but still ,for the recent action .. it just doesent make sense to me.. ?!?!

no offense mate.. just courios to know your intentions



blue is where...
Because I don't like to enter at "V-shaped retracements" on limit. With limit order entries I prefer strong drop-base-drop. The zone you have highlighted would have been an entry for me had it been cleaner on the H4, if you switch to that time frame you can see that it is more of a retracement.

I only like rally-base-drop levels when they are at the extremes of the SD curve, and even then I'll look for a tight and strong drop-base-drop just below them.

I did lose the trade but I'm a RR trader so I'm more than willing to accept the risk.

Another thing on V-shaped retracements is that they are usually just pullbacks into strong drop-base-drop levels. Nothing wrong with RBD, it just has to be super strong, and not a pullback into another level.

Again this whole post is in regards to limit entries, trading with price confirmation is another story
  • #419
  • Sep 15, 2011 9:58am Sep 15, 2011 9:58am
Here's a lesson for everyone: take a shit before your session starts.

I entered heavily on this GU M15 level (chart is M5). It was 20minutes into my session and I didn't get up until the market opened, so I was running a little behind and failed to take a dump before it was time to trade.

So I got my entries in, and trailed my stop up too soon because I wanted to go shit and got stopped for a small loss before price rocketed away.

This trade was based on H1 HH/HL, and a retracement to a strong M15 demand zone, then M5 price action entries. Stop was initially just outside of the zone.

Thought I'd share a "shitty" trade
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  • #420
  • Sep 15, 2011 10:10am Sep 15, 2011 10:10am
PT

Here's a chart of price action right now on M5 EU

A is a DBD below a RBD at H4 supply (high on SD curve). A pullback is ok here, not that I trade on limit on the M5, this is just to illustrate my point on a chart that's going right now.

B is a pullback to this level and would be a decent entry. The move from this level creates the blue zone, which is a pullback to a DBD, and I'd like to see confirmation there rather than a limit entry. This is a "V-shaped retracement" into a DBD as I mentioned in my previous post.

I'm really busy right now so I'm not so sure this is a coherent post let me know ok?
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