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Price is everything

  • #26,921
  • Feb 15, 2012 6:07pm Feb 15, 2012 6:07pm
Quoting Tyoon
Completely agree.

Whatever news. We are at a great setup. Bullflag at source pole demand.

Closed long scalp for a few.

..
exactly - flag ending at demand, REDstyle
  • #26,922
  • Feb 15, 2012 6:09pm Feb 15, 2012 6:09pm
Quoting Dropped Onion
taking low risk short - stop above s/r
the way it short of based before reaching the zone always puzzle me in similar situations. even though it didnt create a good base it has left possible reaction areas. i think arrival is the very important as it defines the first target TP. how do you approach these trades? if i jump in i look for a scalp, if i wait for confirmation it is usually too late. i dont have a clear strategy for taking these so i would like to hear what more experienced players do.
thanks.
edit: just saw this was a 1M chart, but i talk about similar situations on M15 and up
  • #26,923
  • Feb 15, 2012 6:10pm Feb 15, 2012 6:10pm
Quoting Dropped Onion
i am taking some off here as low taken out and we may get a bullish reversal.
rest out at entry. sellers may still have some strength. was that a bear trap?
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  • #26,924
  • Feb 15, 2012 6:14pm Feb 15, 2012 6:14pm
Quoting asos101
the way it short of based before reaching the zone always puzzle me in similar situations. even though it didnt create a good base it has left possible reaction areas. i think arrival is the very important as it defines the first target TP. how do you approach these trades? if i jump in i look for a scalp, if i wait for confirmation it is usually too late. i dont have a clear strategy for taking these so i would like to hear what more experienced players do.
thanks....
confirmation for me is how price previously left the area or how its evolving.

we need to know where demand/supply levels are on our chart. then we must buy at demand OR if there is no demand showing, we become sellers. reverse for selling.

screen time and back testing is key. explore your charts > opportunities are everywhere. find them. trade them. repeat.
  • #26,925
  • Feb 15, 2012 6:17pm Feb 15, 2012 6:17pm
Quoting Dropped Onion
confirmation for me is how price previously left the area or how its evolving.

we need to know where demand/supply levels are on our chart. then we must buy at demand OR if there is no demand showing, we become sellers. reverse for selling.

screen time and back testing is key. explore your charts> opportunity exist
ic, i suppose you are aware of this HTF zone while you play M1
if you would become straight away a seller at this you would get caught up. sometimes SD zones get pierced but still react, if i see them pierced i stay aside and watch.
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  • #26,926
  • Feb 15, 2012 6:22pm Feb 15, 2012 6:22pm
Quoting asos101
ic, i suppose you are aware of this HTF zone while you play M1
i play 1M sometimes to get a better understanding of price structure and early signs of possible turning points in each market. 1M is the heartbeat of the mkt

if we move up in price by one tick, we move on every chart - 1M/5M/1H/4H/D

1M is just another perspective in the greater picture. if we only zoom into 1M then we expose ourselves to over trading and a less understanding of reality.
  • #26,927
  • Feb 15, 2012 6:25pm Feb 15, 2012 6:25pm
we can make a lot of money with a few trades, so trade positive expectation.

stay on the sidelines if there are better opportunities just around the corner.

Red has left a blueprint. its easier than u think/harder than you can imagine?
  • #26,928
  • Feb 15, 2012 6:27pm Feb 15, 2012 6:27pm
can aussie dollar buyers sustain a move upwards? there are many headwinds.

I am looking for another area to short.
  • #26,929
  • Feb 15, 2012 6:32pm Feb 15, 2012 6:32pm
whatever that was it was fast , got a screen in a few
  • #26,930
  • Feb 15, 2012 6:32pm Feb 15, 2012 6:32pm
Quoting Dropped Onion
and with asia open approaching there may be enough volume to push higher.

aussie mission accomplished
  • #26,931
  • Feb 15, 2012 6:32pm Feb 15, 2012 6:32pm
Quoting Tyoon
It's rare I pay attention to news but we got AU un/employment rate. Will cause some opportunity for us at some level/zone. Where are we now? Demand. Probably going to be good news. We'll see. Price will say.
Same old setup. Did I need to know it was good news?? Haven't checked yet... all I know is THAT IT WAS AT DEMAND.

Didn't enter long. Trading psychology shit.. still working on it.

..
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  • #26,932
  • Feb 15, 2012 6:39pm Feb 15, 2012 6:39pm
Quoting Dropped Onion
can aussie dollar buyers sustain a move upwards? there are many headwinds.

I am looking for another area to short.
short au here. news took us to supply. bearish reaction followed
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  • #26,933
  • Feb 15, 2012 6:40pm Feb 15, 2012 6:40pm
Quoting Tyoon
Same old setup. Did I need to know it was good news?? Haven't checked yet... all I know is THAT IT WAS AT DEMAND.

Didn't enter long. Trading psychology shit.. still working on it.

..
Hey Tyoon - its the analysis that counts and you were right.
  • #26,934
  • Feb 15, 2012 6:42pm Feb 15, 2012 6:42pm
Quoting Tyoon
Same old setup. Did I need to know it was good news?? Haven't checked yet... all I know is THAT IT WAS AT DEMAND.

Didn't enter long. Trading psychology shit.. still working on it.

..
long the way it was basing and retesting???

i caught a bit of it and closed, need to go to sleep.
AU and GU reacted, EU didnt even blink.
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  • #26,935
  • Feb 15, 2012 6:43pm Feb 15, 2012 6:43pm
Quoting Dropped Onion
Hey Tyoon - its the analysis that counts and you were right.
WE are right because we are PA traders.

Night DO. Nice short. Looks like it is working out for you atm.
  • #26,936
  • Feb 15, 2012 6:44pm Feb 15, 2012 6:44pm
Quoting Dropped Onion
short au here. news took us to supply. bearish reaction followed
closing most here. i am booking some profit here as buyers are still in control.
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  • #26,937
  • Feb 15, 2012 6:45pm Feb 15, 2012 6:45pm
Quoting Tyoon
WE are right because we are PA traders.

Night DO. Nice short. Looks like it is working out for you atm.
keep it up T. price shows us the way every time. in understanding it we profit.
  • #26,938
  • Feb 15, 2012 6:48pm Feb 15, 2012 6:48pm
.
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  • #26,939
  • Feb 15, 2012 6:48pm Feb 15, 2012 6:48pm
Quoting Tyoon
Same old setup. Did I need to know it was good news?? Haven't checked yet... all I know is THAT IT WAS AT DEMAND.

Didn't enter long. Trading psychology shit.. still working on it.

..
If the news would have been different, it would have dropped and you would have suffered a large loss.
I don't think that news time is the time to trade.
There is plenty of time/opportunities after the dust settles.

Gabe
Every rule has an exception. Except for this one.
  • #26,940
  • Feb 15, 2012 6:52pm Feb 15, 2012 6:52pm
Maybe there is some more strength in this move up....
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Every rule has an exception. Except for this one.
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