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  • #1,421
  • Apr 26, 2012 6:18am Apr 26, 2012 6:18am
Quoting Balhana
Shorted EU at 1.3251, closed 1/2 at 1.3220 (+31 pips) and moved SL to BE+1.
Closed the second lot at 1.3205 (+77 pips in total).
  • #1,422
  • Apr 26, 2012 6:38am Apr 26, 2012 6:38am
Quote
I prefer SR levels on 1HR and 4HR and SD zones below these TF's.
thank you lj ..but i see sd levels often working fine in 1hr and 4hrs..
do u have any rules on when to go for sd and when to go for sr ..
  • #1,423
  • Apr 26, 2012 6:42am Apr 26, 2012 6:42am
one more thing lj
whats wrong with this one
i went long at the yellow zone by placing tp at redline on eu 5m
Attached Image (click to enlarge)
Click to Enlarge Name: eu5min.gif Size: 17 KB
  • #1,424
  • Apr 26, 2012 6:49am Apr 26, 2012 6:49am
Quoting Balhana
UC long at 0.9810. Dollar Index is also bouncing from the significant demand zone, IMO.
hi balhana that was a nice trade on eu ..i didnt expect that move at all..
where do you look for usd index ..
can u give the link of site ..or the broker platform....
i am with fxcm ..their usdx is different from one that is on fx street..
what to folllow..
whats your thoughts lj , balhana..
  • #1,425
  • Apr 26, 2012 6:54am Apr 26, 2012 6:54am
Quoting tulasi
hi lj..what do u think about this sd zone 3340..on eu h1
can u pls share some sdzone examples ,you have taken in longer time frames..recently
Okay got a bit of time before NY gets underway ... this would be my view on the SD zone on EU.

1. 15min TF - can clearly see the source of the move from this SD zone - I'd be interested in shorting this.

2. 5min you can see a support level just under.

3. 1min - you can see where the decision was made to break this support level

Both the lower level and the higher 'source' zone offer potential short opportunities.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-5min.png Size: 13 KB
Click to Enlarge Name: eu5min.png Size: 12 KB
Click to Enlarge Name: eu1min.png Size: 12 KB
  • #1,426
  • Apr 26, 2012 7:01am Apr 26, 2012 7:01am
Quoting tulasi
thank you lj ..but i see sd levels often working fine in 1hr and 4hrs..
do u have any rules on when to go for sd and when to go for sr ..
It's just my preference - I find SD zones with a big imbalance easier on the VLTF's and I see S/R zones which have good FTB setups more clearly on the 1HR / 4HR TF.

All timeframes are valid though...none of this VLTF's are just noise rubbish that gets preached.

Here are the two FTB setups I've taken today - you'll know the result if you follow me on twitter - will post the 'after' charts later.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FTSE 15min.jpg Size: 83 KB
Click to Enlarge Name: EP-30min SD.jpg Size: 118 KB
  • #1,427
  • Apr 26, 2012 7:02am Apr 26, 2012 7:02am
Quoting tulasi
hi balhana that was a nice trade on eu ..i didnt expect that move at all..
where do you look for usd index ..
can u give the link of site ..or the broker platform....
i am with fxcm ..their usdx is different from one that is on fx street..
what to folllow..
whats your thoughts lj , balhana..
I use "Forex Ltd" for USDx,EURx charts.
  • #1,428
  • Apr 26, 2012 7:04am Apr 26, 2012 7:04am
Quoting tulasi
hi balhana that was a nice trade on eu ..i didnt expect that move at all..
where do you look for usd index ..
can u give the link of site ..or the broker platform....
i am with fxcm ..their usdx is different from one that is on fx street..
what to folllow..
whats your thoughts lj , balhana..
I live in Korea so I can open an account only at local companies according to the local law here in Korea. You need to ask someone else. Sorry.

Here is the dollar index chart I mentioned. BTW, my UC trade doesn't look good at the moment....
Attached Image (click to enlarge)
Click to Enlarge Name: DI 2H 0426.png Size: 15 KB
  • #1,429
  • Apr 26, 2012 7:06am Apr 26, 2012 7:06am
Quoting tulasi
one more thing lj
whats wrong with this one
i went long at the yellow zone by placing tp at redline on eu 5m
It's not really what I look for, its not a good fresh demand zone, there isnt a huge imbalance arising from that zone either.

If you zoom in you can see the zone that was responsible for the big Demand imbalance and the reason that price broke the SR just above.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1min2.png Size: 13 KB
  • #1,430
  • Apr 26, 2012 7:34am Apr 26, 2012 7:34am
Watching this pair closely at the moment.....
Attached Image (click to enlarge)
Click to Enlarge Name: CADJ 1H H&S.png Size: 16 KB
  • #1,431
  • Apr 26, 2012 7:54am Apr 26, 2012 7:54am
thank you for replies lj ,balhana..
i wonder ,how precisely usdcad obeyed this sd zone
it was 19 sep 2011..sd zone ..
the same acted a supply today
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 1 hr.gif Size: 22 KB
  • #1,432
  • Apr 26, 2012 8:29am Apr 26, 2012 8:29am
Quoting tulasi
thank you for replies lj ,balhana..
i wonder ,how precisely usdcad obeyed this sd zone
it was 19 sep 2011..sd zone ..
the same acted a supply today
That's the power of supply/demand, IMO. I prefer hourly setups, but it looked obvious to me this time.
  • #1,433
  • Apr 26, 2012 9:42am Apr 26, 2012 9:42am
Quoting Balhana
Watching this pair closely at the moment.....
Sold CAD/JPY at 82.20. Target = 81.87+ 0.061(spread) = 81.931, TP @ 81.95

Why 81.87? Because of 15M demand zone (not shown here) + FIB 61.8% + Daily close.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJ 1H Update.png Size: 16 KB
  • #1,434
  • Apr 26, 2012 9:51am Apr 26, 2012 9:51am
Quoting Balhana
UC long at 0.9810. Dollar Index is also bouncing from the significant demand zone, IMO.
Closed 1/2 (+30 pips) at 0.9840 (4H FLR).
  • #1,435
  • Apr 26, 2012 10:41am Apr 26, 2012 10:41am
Quoting Balhana
Sold CAD/JPY at 82.20. Target = 81.87+ 0.061(spread) = 81.931, TP @ 81.95

Why 81.87? Because of 15M demand zone (not shown here) + FIB 61.8% + Daily close.
Colsed 1/1 at 81.15 (+5 pips). Time to go to bed. I don't want to have two open positions, both of which are CAD related.
  • #1,436
  • Apr 26, 2012 10:44am Apr 26, 2012 10:44am
Quoting Balhana
Closed 1/2 (+30 pips) at 0.9840 (4H FLR).
Moved SL of the second lot to BE+7 (0.9817) and set the target at 0.9855. Will shut down the computer.
  • #1,437
  • Apr 26, 2012 2:47pm Apr 26, 2012 2:47pm
Quoting lovejoy80
It's just my preference - I find SD zones with a big imbalance easier on the VLTF's and I see S/R zones which have good FTB setups more clearly on the 1HR / 4HR TF.

All timeframes are valid though...none of this VLTF's are just noise rubbish that gets preached.

Here are the two FTB setups I've taken today - you'll know the result if you follow me on twitter - will post the 'after' charts later.
Summary of todays trades -as you can see FTSE and S&P trades worked out very well.

I also went long Silver due to the false break of the Daily SR which was also a nice false break on the 4HR combined with a good daily pin on the correlated Gold substance. Got caught in a trap on silver and cut for a loss when price closed below the 30.73 level - even pro's make mistakes from time to time

Went long ECAD due to the poor US data earlier - straight risk sentiment correlation trade.

Finally shorted (along with most of my trading room I reckon) ANZD based on FTB to the big daily level (with entry and SL identified on the LTF's).

Summary of all my positions and risk levels (varying risk is key IMO) as per a few requests:

1. Long 1% Silver @ 30.76, SL @ 30.58, Exit @ 30.68 -0.5R (-0.5%)

2. Short 2% FTSE @ 5758, SL @ 5770, Exit 70% @ 5747, 30% @ 5718 +1.6R (+3.2%)

3. Short 3% S&P @ 1396, SL @ 1400, Exit 60% @ 1394, Exit 40% @ 1390 + 0.9R (+2.7%)

4. Long 1% ECAD @ 1.2982, SL @ 1.2956, Exit 50% @ 1.3005, 50% @ 1.3027 + 1.3R (+1.3%)

5. Short 2% ANZD @ 1.2768, SL @ 1.2885, Exit @ 1.2749 + 1.1R (+2.2%)

A nice day (+4.4R / +8.9%), would have been double digit growth if had not made the error on the silver trade but can't complain with days like today.

These trades actually pretty much sum up the main types of trades I'm taking at the moment.

That's probably me done for the week - I'm quite into my 3-4 day weekends leading into the summer.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uk100.gif Size: 27 KB
Click to Enlarge Name: sp2.gif Size: 32 KB
Click to Enlarge Name: silver.gif Size: 19 KB
Click to Enlarge Name: silver2.gif Size: 18 KB
Click to Enlarge Name: anzd.gif Size: 21 KB
  • #1,438
  • Apr 27, 2012 6:28am Apr 27, 2012 6:28am
Quoting Balhana
Moved SL of the second lot to BE+7 (0.9817) and set the target at 0.9855. Will shut down the computer.
Hit my second target (@0.9855) while sleeping (+75 pips in total).
  • #1,439
  • Apr 27, 2012 6:57am Apr 27, 2012 6:57am
EN is on my watchlist... AU Short?
Attached Image (click to enlarge)
Click to Enlarge Name: EN 1H H&S 0427.png Size: 20 KB
  • #1,440
  • Apr 27, 2012 7:38am Apr 27, 2012 7:38am
Shorted AU at 1.0440.
Attached Image (click to enlarge)
Click to Enlarge Name: AU Short 0427.jpg Size: 98 KB
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