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  • #2,041
  • Jun 8, 2012 8:11am Jun 8, 2012 8:11am
Quoting Ppcd111111
Hi all,

My trade on AU.

Balhana, are you still holding yours?
Yes, I'm still alive.
  • #2,042
  • Jun 8, 2012 8:20am Jun 8, 2012 8:20am
Quoting Balhana
Bought AU at 0.9852
Watching this one also, very nice 4H-level, looking for an entry on the 15m-TF. There're imho 2 zones to watch for a long, upperzone is a disrespected RBD-supply price could bounce here, but I think the lower zone is the zone that price is going for, the base of the bullflag, price should be able to catch enough buyers at the base-demand for another leg upwards. Good luck with your trade .
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Pipcrawler
  • #2,043
  • Jun 8, 2012 8:25am Jun 8, 2012 8:25am
Quoting Balhana
Hmm, I didn't spot it, but I prefer SD and SR. Are you in, too?
I have my order @ 0.9803.

I see it as a FTB to good confluence area - Support/TL/RN. Liquidity will dry up in couple of hours i guess and EURO2012 opening match starts soon so that order is short lived


Overall it was tough trading week for me

All the best
gh
  • #2,044
  • Edited 9:25am Jun 8, 2012 8:27am | Edited 9:25am
Possible eur scenario. Compression into demand level is unlikely to hold due to the previous activity at the demand level imo. Caution: Friday and price has already tanked some 130+ pips from start of Asian session (the latter which actually adds to the potential of a turn at this level rather than continuation).
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  • #2,045
  • Jun 8, 2012 8:31am Jun 8, 2012 8:31am
Quiet markets @ the moment, I've only scalped UJ for some pips. I love to trade bars with a shaven top or bottom (marabozu's), these bars represents pure demand (shaven bottom) and pure supply (shaven top) and when price pulls back hereto you certainly always get the expected reaction. On UJ there were 2 opposite marabozu's in play, garanteed pips. At the moment I'am long UJ, anticipating a break above 15m-PPZ
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Pipcrawler
  • #2,046
  • Jun 8, 2012 8:43am Jun 8, 2012 8:43am
Quoting Greenhaze
I have my order @ 0.9803.

I see it as a FTB to good confluence area - Support/TL/RN. Liquidity will dry up in couple of hours i guess and EURO2012 opening match starts soon so that order is short lived


Overall it was tough trading week for me

All the best
gh
I have that marked too and also a demand zone lower @ 0.9780 (the latter is actually my preferred setup).
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  • #2,047
  • Jun 8, 2012 8:44am Jun 8, 2012 8:44am
Looking to buy Dow based on FTB to demand. Similar setup on the futures @ 12357.
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  • #2,048
  • Jun 8, 2012 8:49am Jun 8, 2012 8:49am
Quoting xmzhang
Watching this one also, very nice 4H-level, looking for an entry on the 15m-TF. There're imho 2 zones to watch for a long, upperzone is a disrespected RBD-supply price could bounce here, but I think the lower zone is the zone that price is going for, the base of the bullflag, price should be able to catch enough buyers at the base-demand for another leg upwards. Good luck with your trade .
Didn't see your post before posting mine, I prefer the demand zone to the SR too, but price could definitely react at the higher level though.
  • #2,049
  • Jun 8, 2012 8:52am Jun 8, 2012 8:52am
Quoting xmzhang
Quiet markets @ the moment, I've only scalped UJ for some pips. I love to trade bars with a shaven top or bottom (marabozu's), these bars represents pure demand (shaven bottom) and pure supply (shaven top) and when price pulls back hereto you certainly always get the expected reaction. On UJ there were 2 opposite marabozu's in play, garanteed pips. At the moment I'am long UJ, anticipating a break above 15m-PPZ
Ha, I like the terminology - shaven tops and bottoms!

I'm waiting for 79.55 area to short UJ.
  • #2,050
  • Jun 8, 2012 8:57am Jun 8, 2012 8:57am
Quoting xmzhang
Quiet markets @ the moment, I've only scalped UJ for some pips. I love to trade bars with a shaven top or bottom (marabozu's), these bars represents pure demand (shaven bottom) and pure supply (shaven top) and when price pulls back hereto you certainly always get the expected reaction. On UJ there were 2 opposite marabozu's in play, garanteed pips. At the moment I'am long UJ, anticipating a break above 15m-PPZ
Those shaven candles you show, mine all have wicks... BUT you clearly show strong candles coming out of periods of more compressed candles which is supply/demand.
  • #2,051
  • Jun 8, 2012 8:59am Jun 8, 2012 8:59am
Sold Bund earlier @ 143.98 based on FTB at the clear level in chart below. Most out at the FLS marked for +1.2R
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  • #2,052
  • Jun 8, 2012 9:00am Jun 8, 2012 9:00am
Quoting lovejoy80
Ha, I like the terminology - shaven tops and bottoms!

I'm waiting for 79.55 area to short UJ.
Yep, that's my target for my scalptrade
Pipcrawler
  • #2,053
  • Jun 8, 2012 9:04am Jun 8, 2012 9:04am
Quoting Porkpie
Possible eur scenario. Compression into demand level is unlikely to hold due to the previous activity at the demand level imo. Caution: Friday and price has already tanked some 130+ pips from start of Asian session.
I wouldn't be so quick to write off that compression, the way price left that demand zone last time suggests that not all demand has been consumed at that level IMO. Not something I'm trading mind - think someone turned off the market after Asia!

The lowest demand level is definitely something I'll be focussing on next week if price gets there.
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  • #2,054
  • Jun 8, 2012 9:19am Jun 8, 2012 9:19am
Quoting lovejoy80
I wouldn't be so quick to write off that compression, the way price left that demand zone last time suggests that not all demand has been consumed at that level IMO. Not something I'm trading mind - think someone turned off the market after Asia!

The lowest demand level is definitely something I'll be focussing on next week if price gets there.
The problem I have with the demand you show is that it is not strong as it looks a very sluggish move out of the level initially. The second pull back however does show strength but that could be unrelated to the previous sluggish demand level and therefore the pull-back is the latest demand level. However, that demand level is not actually that great given that price hung around this area for a while previously (the prior sluggish demand). Thats my interpretation of it. Definitely a confirmation with PA trade whatever it decides to do at this level rather than rely on the compression with the level.
  • #2,055
  • Jun 8, 2012 9:26am Jun 8, 2012 9:26am
Quoting Porkpie
The problem I have with the demand you show is that it is not strong as it looks a very sluggish move out of the level initially. The second pull back however does show strength but that could be unrelated to the previous sluggish demand level and therefore the pull-back is the latest demand level. However, that demand level is not actually that great given that price hung around this area for a while previously (the prior sluggish demand). Thats my interpretation of it. Definitely a confirmation with PA trade whatever it decides to do at this...
Yeah I agree -the initial move away was slow which does not suggest a strong imbalance and you wouldn't have expected price to react like it did on what was essentially the FTB. Definitely one for price action...very close to shutting down for the week myself, momentum has disappeared.
  • #2,056
  • Jun 8, 2012 9:35am Jun 8, 2012 9:35am
Quoting lovejoy80
Yeah I agree -the initial move away was slow which does not suggest a strong imbalance and you wouldn't have expected price to react like it did on what was essentially the FTB. Definitely one for price action...very close to shutting down for the week myself, momentum has disappeared.
Sorry, please can you tell me what is FTB and any other abreviations you use? I am part the way reading through the thread but have not come across the abreviations yet. Thanks
  • #2,057
  • Jun 8, 2012 9:45am Jun 8, 2012 9:45am
Quoting Balhana
Yes, I'm still alive.
I moved up SL from 'SL 0 (0.9825)' to 'SL 1' a few hours ago. Missed my 'SL 1' by 1.1 pips.

Moved SL up a little bit higher so not many pips to lose now.
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  • #2,058
  • Jun 8, 2012 9:48am Jun 8, 2012 9:48am
Quoting Porkpie
Sorry, please can you tell me what is FTB and any other abreviations you use? I am part the way reading through the thread but have not come across the abreviations yet. Thanks
FTB = First Time Back.

Have added a basic list of terminology to first page of the thread.
  • #2,059
  • Jun 8, 2012 9:52am Jun 8, 2012 9:52am
Quoting Balhana
I moved up SL from 'SL 0 (0.9825)' to 'SL 1' a few hours ago. Missed my 'SL 1' by 1.1 pips.

Moved SL up a little bit higher so not many pips to lose now.
Closed 1/3 at 0.9871 for +20 pips and moved SL to BE+1.
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  • #2,060
  • Jun 8, 2012 10:04am Jun 8, 2012 10:04am
Quoting Balhana
Closed 1/3 at 0.9871 for +20 pips and moved SL to BE+1.
Moved SL to 0.9865
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