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  • #1,621
  • May 16, 2012 3:40am May 16, 2012 3:40am
Quoting Balhana
Took longs at 1.2700 on EU (Daily Close + QM + 5M Demand)

It is also similar to the EU setup that failed yesterday because of the Greece news.
Closed 1/3 at 1.2720 for +20 pips and SL to BE+5. Very bearish in HTF so conservative SL management.
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  • #1,622
  • May 16, 2012 4:26am May 16, 2012 4:26am
Quoting Balhana
Closed 1/3 at 1.2720 for +20 pips and SL to BE+5. Very bearish in HTF so conservative SL management.
Closed 1/3 at 1.2730 for +30 pips. +50 pips so far.
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  • #1,623
  • May 16, 2012 5:41am May 16, 2012 5:41am
Quoting Balhana
Closed 1/3 at 1.2730 for +30 pips. +50 pips so far.
Closed the rest at 1.2750 for +50 pips. +100 pips in total.
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  • #1,624
  • May 16, 2012 5:46am May 16, 2012 5:46am
Some great trading over the last couples days guys!

Here is a setup that EVERY FTB trader should be in right now...a very important daily SR level which is clear on the H1...scroll down to M5 and you can see that the decision to move higher also lines up very nicely with the SR level. Orders should be taken @ 1.0055/6
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  • #1,625
  • May 16, 2012 6:04am May 16, 2012 6:04am
Quoting lovejoy80
Some great trading over the last couples days guys!

Here is a setup that EVERY FTB trader should be in right now...a very important daily SR level which is clear on the H1...scroll down to M5 and you can see that the decision to move higher also lines up very nicely with the SR level. Orders should be taken @ 1.0055/6
Very nice!!

Actually I had been waiting for price to come to the level (1.0123-0147) for short entry, which is strong fresh supply zone made on 2012/01/26. In the end, I missed both because I focused on the EU trade....
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  • #1,626
  • May 16, 2012 6:26am May 16, 2012 6:26am
Took a short at 102.65 on EJ (5M H&S off 5M Supply).
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  • #1,627
  • May 16, 2012 6:34am May 16, 2012 6:34am
Quoting Balhana
Took a short at 102.65 on EJ (5M H&S off 5M Supply).
Closed 1/1 at 120.45 for +20 pips.
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  • #1,628
  • May 16, 2012 6:41am May 16, 2012 6:41am
Quoting Balhana
Very nice!!

Actually I had been waiting for price to come to the level (1.0123-0147) for short entry, which is strong fresh supply zone made on 2012/01/26. In the end, I missed both because I focused on the EU trade....
Yes a Trading Room member caught that UCAD short...I've been busy with non-trading stuff this morning have missed some nice setups including this AJ False Breakout too - FB of a daily SR and with all good FB's price moves pretty much straight up without coming close to retest the lows.
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  • #1,629
  • May 16, 2012 6:45am May 16, 2012 6:45am
Quoting lovejoy80
Some great trading over the last couples days guys!

Here is a setup that EVERY FTB trader should be in right now...a very important daily SR level which is clear on the H1...scroll down to M5 and you can see that the decision to move higher also lines up very nicely with the SR level. Orders should be taken @ 1.0055/6
1HR pin formed...price retraced to the 50% fib level of the pin which is also a M1 QM
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  • #1,630
  • May 16, 2012 9:56am May 16, 2012 9:56am
Took a long at 1.5925 on GU and got out at 1.5944 for +19 pips. I think I've became a scalper of late....

Anyway, this is my final trade for today.
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  • #1,631
  • May 17, 2012 7:19am May 17, 2012 7:19am
Took two shorts at 0.8033 on EG with SL @ 0.8045. Missed my SL by a few pips. Doesn't look good at the moment.
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  • #1,632
  • May 17, 2012 8:54am May 17, 2012 8:54am
Quoting Balhana
Took two shorts at 0.8033 on EG with SL @ 0.8045. Missed my SL by a few pips. Doesn't look good at the moment.
Still alive in the EG trade. Missed my SL just by 0.3 pips. 30M pin and prices are compressed on 15M, so it could easily slide down, IMO.
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  • #1,633
  • May 17, 2012 9:13am May 17, 2012 9:13am
Quoting Balhana
Still alive in the EG trade. Missed my SL just by 0.3 pips. 30M pin and prices are compressed on 15M, so it could easily slide down, IMO.
Yeah that looks doesn't it - the 30min pin and the compression below.

Not been a great day for me today and I had a day off yesterday when there so some brilliant setups, but am in this false break on EAUD. Some profit taken and watching price action on the rest.
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  • #1,634
  • May 17, 2012 9:35am May 17, 2012 9:35am
Quoting lovejoy80
Yeah that looks doesn't it - the 30min pin and the compression below.

Not been a great day for me today and I had a day off yesterday when there so some brilliant setups, but am in this false break on EAUD. Some profit taken and watching price action on the rest.
Nice trade!

My EG trade doesn't look good again. It slided down to the base of compression with ease, and then bounced up again. It is very difficult for me to read price today. I took only one trade (the EG trade) but not EG

Maybe need to shut down the computer, hoping for TP (0.8015) to be hit while sleeping.
  • #1,635
  • May 17, 2012 10:22am May 17, 2012 10:22am
Quoting Balhana
Nice trade!

My EG trade doesn't look good again. It slided down to the base of compression with ease, and then bounced up again. It is very difficult for me to read price today. I took only one trade (the EG trade) but not EG

Maybe need to shut down the computer, hoping for TP (0.8015) to be hit while sleeping.
Stopped out at 0.8045 (-24 pips).
  • #1,636
  • May 18, 2012 1:25am May 18, 2012 1:25am
Here is a quick insight in how I use other 'markets' in terms of inter-market analysis for risk sentiment purposes....(I get many questions on this subject)...PART 1:

1. Mini Dow futures - price hitting the mid point of an untested daily demand zone.

2. S&P500 e-mini futures - price has a false break below a significant previous swing low - not something I'd trade, but it's a sign where price is more likely to go next.

3. WTI - clear false break setup (woke up too late otherwise would have taken this trade - not how price behaved exactly how it should in a FB setup - it retested the previous swing low but didn't come close to the FB bar low and it moved straight up - if you understand order-flow behind an FB you'll know why this is the case).

4. USDx - Double Top formation - despite all the risk aversion price hasn't broken this level and on the second chart if you move to the left you can see a big resistance / supply zone waiting just above i.e. the path of least resistance is clearly short USD.
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  • #1,637
  • May 18, 2012 1:30am May 18, 2012 1:30am
...PART 2:

Okay so there is a clear reason to expect a bounce in RISK, so now we go and look at our risk sentiment correlated FX pairs and look for good demand / support zones to be basing some trades on.

These two presented themselves from a quick overview of the charts - both coming back to untested Demand Zones.
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  • #1,638
  • May 18, 2012 4:25am May 18, 2012 4:25am
Quoting lovejoy80
...PART 2:

Okay so there is a clear reason to expect a bounce in RISK, so now we go and look at our risk sentiment correlated FX pairs and look for good demand / support zones to be basing some trades on.

These two presented themselves from a quick overview of the charts - both coming back to untested Demand Zones.
Great stuff LJ, maybe a video about this would be nice
Pipcrawler
  • #1,639
  • May 18, 2012 7:57am May 18, 2012 7:57am
Quoting xmzhang
Great stuff LJ, maybe a video about this would be nice
Thanks. Ha, I'll have a think about it, there is a lot of 'knowledge' required in order to understand inter-market correlations, I'll think about how best to condense that into a short vid.
  • #1,640
  • May 18, 2012 9:11am May 18, 2012 9:11am
Took two shorts at 1.2995 on ECAD.
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