Sniffing Snake's Tracks...
Price is Everything Chat Room
- #3,363
- Edited 6:52pm Jul 4, 2012 6:39pm | Edited 6:52pm
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Hi IF, with that short trade on AU, can you elaborate on what PA you saw that made you short where you did? Was it Compression leading up to level, Hanging man or the engulfing candle closing the gap. Looks to me you took the Hanging man?
I'm finding this aspect of S/D trading so hard, i.e. when to pull the trigger.
But it was also the pause
There is very often a pause at a very important level - price stops for a millisecond longer than usual, which feels like an eternity. It tells me when to get in, most of the time
Or does time just stop in my mind?
Either way, I didn't go in heavy on this trade - I really did want price to hit the origin above to go in heavy
Edit: Oh yes, as stated earlier, the CPLQ was very important too
- #3,365
- Jul 4, 2012 8:44pm Jul 4, 2012 8:44pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
You could say it was the IPB that got me in
But it was also the pause
There is very often a pause at a very important level - price stops for a millisecond longer than usual, which feels like an eternity. It tells me when to get in, most of the time
Or does time just stop in my mind?
Either way, I didn't go in heavy on this trade - I really did want price to hit the origin above to go in heavy
Edit: Oh yes, as stated earlier, the CPLQ was very important too
Thanks for this IF. Your diagram ( as well as many others from you, Red & Others ) is going into my trading plan in the examples section
Seb
- Look to the left, Trade to the right
- I am the system
- #3,370
- Jul 5, 2012 2:50am Jul 5, 2012 2:50am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
quite a few limits missed by pips lately... here's one which worked great while i slept... the decision to break those lows was made where??
Attachment
- #3,371
- Jul 5, 2012 3:17am Jul 5, 2012 3:17am
Great PPZ work, B
short AU for a quick scalp
EDIT: I got in after the big push down - i.e. the market showed there were definitely sellers there, then shorted when price returned to the level
EDIT: I got in after the big push down - i.e. the market showed there were definitely sellers there, then shorted when price returned to the level
- Look to the left, Trade to the right
- I am the system
- #3,373
- Jul 5, 2012 4:08am Jul 5, 2012 4:08am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
short AU for a quick scalp
I see a an area where Demand flipped and became supply. I then also have the last supply zone prior to that massive spike as being a potential area.
Also Round number 1.24500 will be a zone to watch.
I'll be watching for any Reversal PA once it gets below 1.24600
Have I missed anything?
Also Round number 1.24500 will be a zone to watch.
I'll be watching for any Reversal PA once it gets below 1.24600
Have I missed anything?
- Look to the left, Trade to the right
- I am the system
- #3,377
- Jul 5, 2012 5:18am Jul 5, 2012 5:18am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
I see a an area where Demand flipped and became supply. I then also have the last supply zone prior to that massive spike as being a potential area.
Also Round number 1.24500 will be a zone to watch.
I'll be watching for any Reversal PA once it gets below 1.24600
Have I missed anything?
and Forexlive just updated their order board
with: EUR/USD: "Bids 1.2500/10 (sovereigns), sell stops below....."
EDIT: if those sell stops get triggered, then I'd say next stop would be the base of the pole - or thereabouts?
with: EUR/USD: "Bids 1.2500/10 (sovereigns), sell stops below....."
EDIT: if those sell stops get triggered, then I'd say next stop would be the base of the pole - or thereabouts?
- Look to the left, Trade to the right
- I am the system
Had a pending sitting on a juicy Supply level on AU walked out of the room and heard my alert go off. came back and was -19 odd!
Held on, and thankfully - supply is still supply, even during a news spike. I came withing a fraction of being stopped out ( i think a fraction of a pip ). Held on and bailed as soon as i was positive. ended up +6, but not a fun way to do it.
Shows how proper stop placement can be helpful.
As an aside, I've recently halved my lot size and my trading has gotten so much better. I can now place my stops in far more logical spots
I've banked more $$ today with less risk ( over more proper trade setups ) than what i was doing prior.
Held on, and thankfully - supply is still supply, even during a news spike. I came withing a fraction of being stopped out ( i think a fraction of a pip ). Held on and bailed as soon as i was positive. ended up +6, but not a fun way to do it.
Shows how proper stop placement can be helpful.
As an aside, I've recently halved my lot size and my trading has gotten so much better. I can now place my stops in far more logical spots
I've banked more $$ today with less risk ( over more proper trade setups ) than what i was doing prior.
- Look to the left, Trade to the right
- I am the system