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Price is everything

  • #27,301
  • Mar 9, 2012 7:23am Mar 9, 2012 7:23am
Quoting Ifmyante
quasimodo.
Makes perfect sense - lovely trade
Michael!!!!
aha, just noticed that was a quasi trade.
LOL

AC
Simplicity Is The Ultimate Sophistication ~LDV~
  • #27,302
  • Mar 9, 2012 9:17pm Mar 9, 2012 9:17pm
Quoting frankkn
.....If price breaks those H4 hls in a convincing manor I'll be looking for quality H1 zones to play to the nearby H4 SD zones in the second chart.
Hope you were able to get into a nice little trade there my friend.

I have attached a 240 min chart. I don't trade this timeframe, and if I did, I would not have seen an entry signal.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #27,303
  • Edited 3:48pm Mar 10, 2012 3:37pm | Edited 3:48pm
Alex, I can tell you are happy she must be one-of-a kind.

Thanks ES I'm overwhelmed, but resolute to prove myself so I'm going strong.

HG how have you been ol pal?

This trade didn't work, however I was looking for roughly 4R. Left my orders going into NFP, understanding the risk. Seems that there was more spec interest in QE to be unwound than I was expecting, but it is speculation after all.

Edit:

Thought I'd edit in more details on the trade.

I am one for following new HH and new LL with sentiment. Usually for my trading I'll use H1 for my highs/lows, but with less time to babysit EU during the day I've been using H4. That being said, in this trade there had been a new H4 high put in on Greek headlines, and I was looking for a pullback to this H1 zone. The fact that I placed the trade going into the end of the week, ahead of NFP the trade was inherently risky; however we must endure risk to enjoy the benefits of speculation.

-Edited again for H4 chart. The blue lines mark the local high and low at the time the orders were placed. The H4 supply was 86 away, and with a 20 pip stop provided room for my 4R TP.
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  • #27,304
  • Mar 11, 2012 1:24am Mar 11, 2012 1:24am
Quoting frankkn
Alex, I can tell you are happy she must be one-of-a kind.

Thanks ES I'm overwhelmed, but resolute to prove myself so I'm going strong.

HG how have you been ol pal?

This trade didn't work, however I was looking for roughly 4R. Left my orders going into NFP, understanding the risk. Seems that there was more spec interest in QE to be unwound than I was expecting, but it is speculation after all.

Edit:

Thought I'd edit in more details on the trade.

I am one for following new HH and new LL with sentiment. Usually for my trading I'll use H1 for...
Brother, have you ever considered using Fibs with supply/demand? I have been having good results using h4 fibs on a 5min chart. From the looks of it, KennyZ as well, but don't know his experience. You can google fibo pdf may find some info from fxknight, (Robert Miner as well) a good place to start. I just started adding them back to my repertoire. Rock on
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #27,305
  • Mar 12, 2012 1:28am Mar 12, 2012 1:28am
Quoting Tyoon
Sorry, I couldn't resist.
Thanks for your reply,as we know, different forex traders have different trading experence.I'm a new trader here, please give me some advices......
Thanks very much..
  • #27,306
  • Mar 12, 2012 10:27am Mar 12, 2012 10:27am
I just closed my wti long trade +58pip.
I think i missed the real entry.
on the 1 hour chart i draw a demand zone is that correct?
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  • #27,307
  • Mar 12, 2012 10:48am Mar 12, 2012 10:48am
AU
EJ
UCAD

EU H4 update
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #27,308
  • Mar 12, 2012 11:31am Mar 12, 2012 11:31am
Quoting eaglestar
Brother, have you ever considered using Fibs with supply/demand? Rock on
.
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  • #27,309
  • Edited Mar 13, 2012 12:52am Mar 12, 2012 12:26pm | Edited Mar 13, 2012 12:52am
Quoting Atc
.
Excellent. I use the alerter4u indicator to alert me when price is close to the h4 fibs, so no falling asleep at the keyboard. I still have to finish organizing it correctly on my chart timeframes. GBPJPY looks like a head and shoulders (shampoo). If price confirms look for a drop to 123.00 Good eyes. If you want the same fib settings as I have just select my fib tool and click properties and click ok. I don't have some of the more obscure settings like 94 and 118(?) and some people use 150
http://www.investopedia.com/universi...#axzz1ovJPyEcv

link to pdf
http://www.fx-knight.com/dl/Fibo.pdf

This thread talks about how to use it
http://fx-knight.com/smForum/index.p....msg254#msg254

Robert Miner book
http://www.4shared.com/office/Y22gXD...ding_Strat.htm

Joe Dinapoli is also very good.
http://www.4shared.com/office/oQYU3R..._levels_-.html

And Larry Pesavento
http://www.4shared.com/office/Njg-7rDE/--_Fibonacci_Ratios_with_Patte.html

Alerter
http://www.forexfactory.com/showthre...30#post1820330

All the best
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Attached File(s)
File Type: tpl gbpjpyh4.tpl   8 KB | 352 downloads
File Type: ex4 Alerter.ex4   4 KB | 357 downloads
File Type: ex4 Alerter4U.ex4   8 KB | 389 downloads
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #27,310
  • Mar 12, 2012 6:18pm Mar 12, 2012 6:18pm
. oz
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  • #27,311
  • Mar 13, 2012 2:56am Mar 13, 2012 2:56am
hello everyone
i would like to post here from time to time some of my trades based on PA. i mostly trade GU and usually m5 m15 TF but also some trades in h1.
sometimes i get them wrong so feel free to tell me if any of you see what i am mistaking.
thanks in advance
90% of traders use TA, indicators and prediction
  • #27,312
  • Mar 13, 2012 4:19am Mar 13, 2012 4:19am
took a risky long just few pips below 23%fbio line and previous swing low.
reasons:
price unable to close again below 5640 = more up!
tgt 5720 untested pivot line.

Sl @be as always as soon as i can.
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90% of traders use TA, indicators and prediction
  • #27,313
  • Mar 13, 2012 4:28am Mar 13, 2012 4:28am
Quoting eaglestar
Excellent. I use the alerter4u indicator to alert me when price is close to the h4 fibs, so no falling asleep at the keyboard. I still have to finish organizing it correctly on my chart timeframes. GBPJPY looks like a head and shoulders (shampoo). If price confirms look for a drop to 123.00 Good eyes. If you want the same fib settings as I have just select my fib tool and click properties and click ok. I don't have some of the more obscure settings like 94 and 118(?) and some people use 150
http://www.investopedia.com/universi...#axzz1ovJPyEcv...
Thanks very much for your shared links, i can benefit a lot from it .
I'd like to learn more information about price in forex trading ,can you
give me some basic forex knowledge websites? Thanks a lot.
  • #27,314
  • Mar 13, 2012 4:53am Mar 13, 2012 4:53am
Quoting _BBKing_
took a risky long just few pips below 23%fbio line and previous swing low.
reasons:
price unable to close again below 5640 = more up!
tgt 5720 untested pivot line.

Sl @be as always as soon as i can.

uhm better wait. not very clear moves to me.
90% of traders use TA, indicators and prediction
  • #27,315
  • Mar 13, 2012 9:28am Mar 13, 2012 9:28am
Are these supply, demand zones correct on 4h?
Gold chart.
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  • #27,316
  • Mar 13, 2012 12:30pm Mar 13, 2012 12:30pm
Quoting henkyke
Are these supply, demand zones correct on 4h?
Gold chart.
Don't forget ignored levels further left
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  • #27,317
  • Mar 13, 2012 4:09pm Mar 13, 2012 4:09pm
Quoting Ifmyante
Don't forget ignored levels further left
Hello, I am new for this topic, and for forexfactory forum, but I have some experience in forex trading. Unfortunately for now I am on sheeps or pigs team , but still searching my strategy or my trade plan. So long as I can remember I want to play PA game, bo I have no idea how to use it. Today I have some skills but still got many questions. One of them is how far back I should watch my charts to put on in demand and supply levels ? I play 15m chart. Here is my usdchf trade:

http://images43.fotosik.pl/1428/9b85e4ecf2befa04.jpg

Best regards from Poland, Rosa.
  • #27,318
  • Mar 13, 2012 5:28pm Mar 13, 2012 5:28pm
Quoting Ifmyante
Don't forget ignored levels further left
hello IF, i wish you post more often here by the way. every one of your screens is golden (its a gold chart after all )

what i see though is too many levels and too wide to be of any real value other than a reminder that these are areas price MAY react.
i suppose the trigger for a trade is always PA.
even Red says that you never know if a level will hold or not, only PA will tell.
i watch them but always want to get in AFTER reaction and PA with momentum. unless the level is off M5-M15, that the risk allow for a "blind" entry.

i wonder, am i miles off here?
  • #27,319
  • Mar 13, 2012 5:32pm Mar 13, 2012 5:32pm
Quoting Rosa
Hello, I am new for this topic, and for forexfactory forum, but I have some experience in forex trading. Unfortunately for now I am on sheeps or pigs team , but still searching my strategy or my trade plan. So long as I can remember I want to play PA game, bo I have no idea how to use it. Today I have some skills but still got many questions. One of them is how far back I should watch my charts to put on in demand and supply levels ? I play 15m chart. Here is my usdchf trade:

http://images43.fotosik.pl/1428/9b85e4ecf2befa04.jpg

Best...
Hi Rosa.

It's best to discuss these things in our chatroom
But this once I'll answer here.

Best

If
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  • #27,320
  • Mar 13, 2012 6:08pm Mar 13, 2012 6:08pm
Quoting asos101
hello IF, i wish you post more often here by the way. every one of your screens is golden (its a gold chart after all )

what i see though is too many levels and too wide to be of any real value other than a reminder that these are areas price MAY react.
i suppose the trigger for a trade is always PA.
even Red says that you never know if a level will hold or not, only PA will tell.
i watch them but always want to get in AFTER reaction and PA with momentum. unless the level is off M5-M15, that the risk allow for a "blind"...
Hi asos

thanks for the kind words. They're always very welcome

Regarding waiting for PA at a zone, you're not miles off at all really.
In fact it's a pretty safe way to trade while learning.

Personally, I like to find a past price where I know there are many orders left and touch trade it. If this price isn't at the very base of a move, I'll very often just scalp that entry back to the last S/R or S/D, taking the bare minimum of, dare I say it, guaranteed pips.

Then I'll see how price reacts when it meets the new S/D zone created since my entry and decide whether I want to re enter.

If, however, price is at the base of a move, I'll TT entry and see if price will hit the other extreme, and if the HTFs say I'm trading in the direction of a bigger move, sometimes I'll hold the trade and see if it breaks the other extreme
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