the first level im watching is were price is now,i took my long from daily chart as marked which contratdicted flow and 1 min chart,im now watching all the value changes to determine if the flow will continue .ill be waiting to see it come back and test around the 15512,the diagnal and horizontal
waltini1,im watching price in that yellow zone,its gone below 12 level,94 level ,all told if it goes down and breaks that diagnal on daily ,then shorts
still in my short,although held longer than i normally would almost 20 pip risk at the highs,but veiwing from a slightly diferent perspective and related pairs behavour stayed with it, back to my entry level as i write.u can see my entry,my stop above top red box on trend line from zoomed in ,seen in most of my charts
price on cable ,were i left it last night just below that 70 level,cant quite get a feel for the first move,would like to see it rise all fall below the yellow zone and retest,a little buying in some pairs against doller and yen but could be positioning from yesterday,on fence for mo
Not much to trade for me these last few days,cable trading between two levels,holidays ect,very boring,at present im short on ftse 100,from5438 level looking to exit at 5405 area,first target 5420,ny just starting so looking for selling,otherwise will exit without giving to much away
Just to show my thiughts on this short and my concerns,
yellow boxes represent the buying zone,then climbs to new level,the shorts from the highs getting stronger making new lows.but the large candle indicating still some buying at the lower level,i like to trade from the top into the buy zone,it gives me pips into it,allowing me to exit at worst on b/e,if theres strong buying left,
i have my reason to short and the levels i expect it to go,but of coarse i need to see the buying has been completed,hope that makes some sense
Heres the conclusion,as the buying was completed in the yellow zones down she went,the buying area the new selling zone and my exits hit,you could have traded cable in tanden there exactly the same thing just happened
im going to change my scalping method slightly from next week,my reason for this is my other 2 methods i trade are also not capatilising on my early entries .as they are more machanical .
my only scalp yesterday on the ftse100,gave me 30 points ,but the move went on to make a posible 80 pips,and incidently stopped on one of my target levels from my other system,which infact is were all my levels are generated from.so i will now try and capture some of the bigger moves from these eatly scalp entries.i will increase my lot size and take profits at target areas leaving one portion to ride the bigger moves.it will be descresionary ,ie,only on scalps that are taken with the bigger trend,and not taken on range scalps.because i dont want to many trades to be b/e on me.
the chart shows yesterdays scalp and entry,it was with the trend and overall market sentiment.
