Take it as it is

Hello again!

Would like to post here my another trade for today.
I would do it with two time frames. - 5 min. and 1 min.

5 min - are my levels, and 1 min - lower TF price action.

I don't know if you guys trade gold but it's at a s/r zone.....worth keeping an eye on

short eu

I would like to add something to this thread, if the author would agree with me...

By trading support and resistance levels (zones) we are trading just shift between buyers and sellers, demand and supply, bulls and bears... how you want to call it.

So - our enter should be exactly after we would witness the weakness of one army, and the start of attack of other army. We just look when these armies are changed.

With all respect to the author of this thread - VitaminBeer.

Good luck!

Hi all

It looks like some traders are catching some good short term trades. Personally, I prefer longer TF.

I would like to share a trade that I am in at the moment, to demonstrate that when your reading PA, the way you trade short TF and long TF are not that different....in fact I prefer the longer TF due to the bigger profits per trade and the time available to make decisions.....also less trades and less time in front of the PC.

Please note the R/S zone in blue. A break of 1.5885 will give me confirmation of a continuation.

Cheers to all and happy trading.

Well done guys,

Your more than welcome to put your ideas up, I'm all for it.

Sorry I have not put much up on here for a few days, I'm actually in the process of moving around and looking for a new house so it may be a little while before things go back to normal on my end.

Have a good weekend everyone, also beware NFP today, it's a killer.

Cheers,

VB,

yes bro i agree with u..........support VB but the if the idea have good things to share why not?????? as long as the idea is the same strategy

yes VB NFP today very dangerous.....good luck to you find new house

im new boy learn about forex from all you guys......thanks from Malaysian

Alright a quick note in regards to 'methods'.

I do not believe that there is any hard or firm rules about trading price action, there is only what works for you, and what doesn't.

Price Action is so vast and can be looked upon in so many different ways, the way I see it is I look at it from a different angel which would be shared by a lot of people, everyone has their own approach to how they see things in this crazy market. However, in having said that... the way I look at it might just be exactley the same as looking at it from a higher time frame but without the scrutinizing of the waves.

I also am not saying that I don't often trade different setups that are not present in this thread, I quiet oftenly do in fact.
I read the bars on the bigger time frames as well, I like pin bars, hammers etc, and if they are shown at these important levels on larger time frames I may well just take them too.

For anyone interested in a bit of light reading for the weekend, feel free to go over some of the stuff here, it is all very good and interesting and focuses mainly on technical analysis and as such, price action and should be a big help to any of those learning the in's and out's.

Hope everyone has a good weekend

Peace!

VB,

Good old steve

http://www.forexfactory.com/showthread.php?t=86429

Let me add something 2 this thread what maybe help people.

This is a chart doesnt matter witch pair it is a chart.

Now i am not going over pure technical because my believe in trading is that you most know something about fundies. It is like this when you wanna exchange a currencie for a other when ask yourself why do i want to exchange for example eur for usd or eur for aud or whatever what are the benefits what are the negatives the risk ( global macro). Then when you answere that you can open the chart.

It is like why buy that car for 20.000 well if i can get it somewhere else cheaper with more specifications right?? whe are traders not gamblers in the first place.

O yeah another thing whe dont have always to be in the market like most people think. Thats is also gambling more the compulsive kind of people they ussually like scalping also dont feel offended but imo it is hard to scalp. If you arent trading on the ladder the dom with level 2 or something like that but thats my oppinion. i rather like this video trading and poker have much in common.




Now what do whe see on this chart many see probally not much experience 1s see potential trades probally.

Dealing ranges


It is true that 70% or maybe it is even 80% dont know so 1.2.3 out of my head currencies range inside a dealing range. This is where all orders get executed until some fundamental shift takes price higher or lower and creates a new dealing range. Where peopel diggest data and until there is found a agreement in prices to mark them up or down.

Now where do you think the most traders lose money??

The 1s who trade inside the range.

Where do you think the traders make the most money the 1s who have patience. They trade the edges of the dealing range when the building blocks ranges build up eachother is instutionial orderflow who pushes prices in to new dealing ranges where. They digest new data and make the conclusion the mark higher or breakdown.


Trend

Some people say trend doesnt matter etc i have huge ego i pick the ultimate turn yeah sometimes it may work out but then you most have imo a macro fundamental reason for it or whatever orderflow or sentiment conludes that at that point. Most times it will drain your acount and you just providing liquidity for the institutionial traders what most retail do.

So if you look at this chart you can see the dealing ranges building on top of each other and you can see when 1 dealing range gets broken there is no reason to pick a top until whe have broken a prior dealing range or same goes for downflow a bottom. The best entries are when a dealing range gets broken it will often gutcheck the older dealing range. Here is ussually where other players who where wrong get out breakeven or minimized loss or new institutionial orderflow comes in stops from price chasers etc are ther so huge orderflow to push price down again and a lot of liquidity to fill big orders so a good place for instutions to put order to get good fills

Hello!

My short trade. E/U.

5 and 1 min. charts.




EIDT: bail out with little scratch.

Re-entry:

double top and bullish failure to go up higher - short again.

First target - 3064



EIDT: - closed 3067 1:1 Risk:Reward.

Possible long? Could be this level?

Here is 1 min. chart variance of that possible support level.

Another possible support level. Time to watch lower TF.

possible long trade.

This is how price moves... and - this is the only what really matters.

Cancel my long order.