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  • #1,901
  • Jun 4, 2012 8:24am Jun 4, 2012 8:24am
Quoting Balhana
Sold AU at 0.9713.
Stopped out at 0.9727 for -14 pips (-28 pips in total).
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  • #1,902
  • Jun 4, 2012 8:48am Jun 4, 2012 8:48am
Sold fiber at close of inverted hammer, pair is way oversold also near BRN @ 12500 and floorpivot R1, inverted hammer cleared some buy orders for a initial drop in price, first target @ start of upmove @ 12473
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Pipcrawler
  • #1,903
  • Jun 4, 2012 9:31am Jun 4, 2012 9:31am
What a bummer ,closed manually @ BE+5, i've given 10 pips back to the market
Pipcrawler
  • #1,904
  • Jun 4, 2012 9:35am Jun 4, 2012 9:35am
Reentered Fiber sell, this time a live-trade, nice price compression and then price spikes above BRN 12500 (liquidity spike) trapping breakout traders who anticipated a break above the psychological BRN 12500,
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Pipcrawler
  • #1,905
  • Jun 4, 2012 9:59am Jun 4, 2012 9:59am
Quoting xmzhang
Reentered Fiber sell, this time a live-trade, nice price compression and then price spikes above BRN 12500 (liquidity spike) trapping breakout traders who anticipated a break above the psychological BRN 12500,
Yes ! closed all at the aforementioned target of 12473
Pipcrawler
  • #1,906
  • Jun 4, 2012 12:29pm Jun 4, 2012 12:29pm
Quoting xmzhang
Yes ! closed all at the aforementioned target of 12473
Nice trade.

Ordinarily I'd be looking to bid EU around 1.2445 (similar setup on EJ too).
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  • #1,907
  • Jun 4, 2012 5:10pm Jun 4, 2012 5:10pm
Quoting lovejoy80
Nice trade.

Ordinarily I'd be looking to bid EU around 1.2445 (similar setup on EJ too).
Setups on correlated pairs...
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  • #1,908
  • Jun 5, 2012 1:12am Jun 5, 2012 1:12am
CADCHF setup for which I have an order. FTB @ SD zone which is also immediate retest on daily TF. Conservative SL above an SR within the zone (rather than just above the consolidation at the edge of the zone - zoom in to see this).
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  • #1,909
  • Jun 5, 2012 2:45am Jun 5, 2012 2:45am
Quoting lovejoy80
CADCHF setup for which I have an order. FTB @ SD zone which is also immediate retest on daily TF. Conservative SL above an SR within the zone (rather than just above the consolidation at the edge of the zone - zoom in to see this).
Just my two cents. I prefer entry at A on the chart.
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  • #1,910
  • Jun 5, 2012 2:52am Jun 5, 2012 2:52am
Quoting Balhana
Just my two cents. I prefer entry at A on the chart.
My thought on why the cluster acts as supply more often than not.
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  • #1,911
  • Edited 3:10am Jun 5, 2012 2:57am | Edited 3:10am
Quoting Balhana
Just my two cents. I prefer entry at A on the chart.
My experience says the opposite - if the zone is strong enough then supply should come in at the edge of the zone not at the source. This is for a strong SD zone with a good FTB.

If the zone is not strong then the source of course is the next point to look for a reaction - it's the last line of defence so to speak.

So I'm always looking for a reaction at where price should first meet supply or demand on an zone FTB and never the source (unless the source happens to be coincide with the edge of the zone).

I find if I wait for the source I miss out on a lot of trades and then of course when price comes back the zone is weaker because supply / demand has been consumed to an extent from the first reaction.

The crosses can be more tricky though due to the nature of order flow that is present and this one just goes down as one that didn't work as expected.
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  • #1,912
  • Jun 5, 2012 3:06am Jun 5, 2012 3:06am
Quoting lovejoy80
Setups on correlated pairs...
Long triggered, I went long EU as price paused and formed a 15min pin. Also has USDx confluence unsurprisingly.
  • #1,913
  • Jun 5, 2012 3:40am Jun 5, 2012 3:40am
Quoting lovejoy80
My experience says the opposite - if the zone is strong enough then supply should come in at the edge of the zone not at the source. This is for a strong SD zone with a good FTB.

If the zone is not strong then the source of course is the next point to look for a reaction - it's the last line of defence so to speak.

So I'm always looking for a reaction at where price should first meet supply or demand on an zone FTB and never the source (unless the source happens to be coincide with the edge of the zone).

I find if I wait for the source I...
"If I wait for the source I miss out on a lot of trades." I totally agree with you on this.

But I'm not talking about every FTB setup. I'm just talking about one particular pattern:
1) A small cluster resolved north (buyers are happy)
2) Suddenly the cluster was engulfed by clean bears. (sucked in buyers are frustrated and waiting for price to come back up in order to bail near BE or with small loss)

This pattern works very well for me. Look at one more example.

(I'm still at the office so can't take any trade at the moment.)
Attached Image (click to enlarge)
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  • #1,914
  • Jun 5, 2012 3:46am Jun 5, 2012 3:46am
Quoting Balhana
"If I wait for the source I miss out on a lot of trades." I totally agree with you on this.

But I'm not talking about every FTB setup. I'm just talking about one particular pattern:
1) A small cluster resolved north (buyers are happy)
2) Suddenly the cluster was engulfed by clean bears. (sucked in buyers are frustrated and waiting for price to come back up in order to bail near BE or with small loss)

This pattern works very well for me. Look at one more example.

(I'm still at the office so can't take any trade at the moment.)
Interesting stuff fella, something I've not noticed before.

The order-flow behind it makes sense...the initial longs were essentially a trap and now they'll be looking to bail out as close to BE as possible etc.
  • #1,915
  • Jun 5, 2012 4:06am Jun 5, 2012 4:06am
Quoting lovejoy80
Nice trade.

Ordinarily I'd be looking to bid EU around 1.2445 (similar setup on EJ too).
LJ,
The reason why you won't be taking this bid is due to the market sentiment?
  • #1,916
  • Jun 5, 2012 4:10am Jun 5, 2012 4:10am
Quoting Fx7877
LJ,
The reason why you won't be taking this bid is due to the market sentiment?
I did take it, I meant if it got hit yesterday because I wasn't trading yesterday (public holiday in UK - as it is today and I wish I'd taken today off too! lol).

The move down was too impulsive to take a direct touch for me so I got in after price had stalled and then formed a M15 pin. Got out for a partial loss as price then fell lower - the pause was more of a mini bear flag.
  • #1,917
  • Jun 5, 2012 4:20am Jun 5, 2012 4:20am
Quoting lovejoy80
I did take it, I meant if it got hit yesterday because I wasn't trading yesterday (public holiday in UK - as it is today and I wish I'd taken today off too! lol).

The move down was too impulsive to take a direct touch for me so I got in after price had stalled and then formed a M15 pin. Got out for a partial loss as price then fell lower - the pause was more of a mini bear flag.
Thks for the clarification. Re the move down, isn't a strong fast move down into demand zone a plus point as it is likely to get a bigger reaction in the zone?
  • #1,918
  • Jun 5, 2012 4:51am Jun 5, 2012 4:51am
Quoting Fx7877
Thks for the clarification. Re the move down, isn't a strong fast move down into demand zone a plus point as it is likely to get a bigger reaction in the zone?
There is a difference between price moving with good momentum when close to the zone and price moving in an impulsive manner from a distance.

The former is what we want because of the order-flow it represents - the latter is not what we want because at each price level there is a big supply / demand imbalance which of course says that either demand is weak or available supply is very strong i.e. price is moving with a strong sentiment bias. This means there is a higher chance that a) the demand at our zone won't be strong enough to reverse price and b) orders will be removed as buyers don't want to get in the way of the strong move (orders like mine for example - not that I move the market).

I'll find examples of each so you can see it more clearly on a chart.
  • #1,919
  • Jun 5, 2012 4:53am Jun 5, 2012 4:53am
Quoting Balhana
"If I wait for the source I miss out on a lot of trades." I totally agree with you on this.

But I'm not talking about every FTB setup. I'm just talking about one particular pattern:
1) A small cluster resolved north (buyers are happy)
2) Suddenly the cluster was engulfed by clean bears. (sucked in buyers are frustrated and waiting for price to come back up in order to bail near BE or with small loss)

This pattern works very well for me. Look at one more example.

(I'm still at the office so can't take any trade at the moment.)
I don't get it, these trapped buyers, they would've closed their longs as soon as price drops below the cluster and thereby accelarating the downmove with their sell orders, they wouldn't wait until price comes all the way down and then returns all the away back to their original entry point. So the supply isn't coming from the sell orders of the trapped buyers ?
Pipcrawler
  • #1,920
  • Jun 5, 2012 4:59am Jun 5, 2012 4:59am
Quoting lovejoy80
There is a difference between price moving with good momentum when close to the zone and price moving in an impulsive manner from a distance.

The former is what we want because of the order-flow it represents - the latter is not what we want because at each price level there is a big supply / demand imbalance which of course says that either demand is weak or available supply is very strong i.e. price is moving with a strong sentiment bias. This means there is a higher chance that a) the demand at our zone won't be strong enough to reverse price...
Yes, a few examples would be nice, one chart says more than a 1000 words
Pipcrawler
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