Finally price arrived and landed peacefully to my 1st TP zoneafter six trading days, closed the nearest two orders and the remaining two shall follow shortly.... hopefully.
Sniffing Snake's Tracks...
Price is Everything Chat Room
- #3,804
- Jul 12, 2012 10:45am Jul 12, 2012 10:45am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Today has been a very frustrating day. Keep looking for that demand level that we are deep into yet if i was looking for small supply levels id have picked up 30-40 pips at least.
What do you guys think will confirm a decent enough bounce from here. Would you wait for confirmation on a higher timeframe to start looking for longs? For instance where we are at the minute 1.2180 my mindset tells me we are due back at 1.2210. I think its just the way im programmed. I see 5minute demand just below here which has been reacted well to and the next big...
Update: As I type, the 2190 level was broken and we did indeed hit the 2210 target area.
- #3,810
- Jul 12, 2012 10:59am Jul 12, 2012 10:59am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
- #3,812
- Jul 12, 2012 11:12am Jul 12, 2012 11:12am
OK. Good
So you see what happened at the bottom of the flag
Now decipher what had happened at the top
For the record, here's what happened next:
If,
You have lost me here.
I saw that 1min supply which was reacted well to as already stated. Im just finding it hard to differentiate between it and the 1 min supply about an hour beforehand to the left that this area blasted through. What makes it a better demand or indication of a retracement.
My question now live is. We are between these two levels, presumably after taking profit at 1.2210 from the first trade.
Barring a scalp from 1.2210 to meet the bottom of this pole which it has reached already what methodology would you use to choose a HTF or indeed LTF bias.
For eg would you wait for price to clear the supply in Blue and retrace to it for a long?? Bearing in mind we are in HTF Demand and we want to keep our stops as close as possible.
- #3,813
- Jul 12, 2012 11:13am Jul 12, 2012 11:13am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
You're getting there 
I was looking to the past though for what would happen in the future
I'm looking for a volunteer to go thru the PA on this
If no takers, I'll try to find time to do a video on it
I was looking to the past though for what would happen in the future
I'm looking for a volunteer to go thru the PA on this
If no takers, I'll try to find time to do a video on it
- #3,815
- Edited 11:43am Jul 12, 2012 11:29am | Edited 11:43am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
If,
You have lost me here.
I saw that 1min supply which was reacted well to as already stated. Im just finding it hard to differentiate between it and the 1 min supply about an hour beforehand to the left that this area blasted through. What makes it a better demand or indication of a retracement.
Attachment
My question now live is. We are between these two levels, presumably after taking profit at 1.2210 from the first trade.
Barring a scalp from 1.2210 to meet the bottom of this pole which it has reached already...
Re your second question: That certainly is one way of going about it
Here's another low risk method too
But I really would rather teach market dynamics than trading at this stage - One is grasped much easier without the pressures of the other
On the new site, we've made a way to teach actual trading to those that have proven they understand market dynamics.
Maybe I've said too much...... Just can't wait, is all
- #3,817
- Jul 12, 2012 11:59am Jul 12, 2012 11:59am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
- #3,818
- Edited 1:54pm Jul 12, 2012 12:08pm | Edited 1:54pm
- | Joined Jun 2011 | Status: Trader | 344 Posts
going long.thats the scenario i think is unfolding.
if im wrong than it will cost me 2 points...if im right at least 7points.
lets see ..
edit
rice came 3 pip from supply(and also my tp) and turn.got only 1.5 points due to my trailing sl getting hit.got to work on my trade managemnt...(i still think price will reach my tp but its history for me now...)
if im wrong than it will cost me 2 points...if im right at least 7points.
lets see ..
edit
rice came 3 pip from supply(and also my tp) and turn.got only 1.5 points due to my trailing sl getting hit.got to work on my trade managemnt...(i still think price will reach my tp but its history for me now...)
- #3,820
- Jul 12, 2012 12:34pm Jul 12, 2012 12:34pm
- | Joined Nov 2010 | Status: OH NOES!!!11 | 585 Posts
A little late but I think I just spotted my first QM... AU 15M.
Let me know if I'm clogging up the thread with useless charts and I'll stop...
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