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  • #2,441
  • Jul 11, 2012 12:38pm Jul 11, 2012 12:38pm
Quoting lovejoy80
Summer trading often reverses or at leasts teases with daily biases - certainly keeps you on your toes.
Thanks for the feedback as always.

Why does summer trading have this affect on the markets? Are school kids trading their parents money? I'm too much of novice to have seen this affect hold true. My 1st xmas trading just passed. Not a good time to be trading LOL.

I've seen a lot of acronyms floating around that are not referred to on page one. e.g QM, RBR, DBD. What do they mean?
  • #2,442
  • Jul 11, 2012 1:56pm Jul 11, 2012 1:56pm
Quoting 5.25
Thanks for the feedback as always.

Why does summer trading have this affect on the markets? Are school kids trading their parents money? I'm too much of novice to have seen this affect hold true. My 1st xmas trading just passed. Not a good time to be trading LOL.

I've seen a lot of acronyms floating around that are not referred to on page one. e.g QM, RBR, DBD. What do they mean?
QM = Quasimodo - it's a reversal pattern. It's not something I trade religiously, but in the right scenario it can be a good pattern. I've been over the setup on one of the price action vids on my website.

Other terminology....

RBR = Rally Base Rally
RBD = Rally Base Drop
DBR = Drop Base Rally
DBD = Drop Base Drop

They are just phrases (not developed by me I should add) to differentiate between different types of supply demand zones and represent sentiment shifts and decision points.

lol, traders going on holiday thus 'thin' liquidity causing choppy price movements.
  • #2,443
  • Jul 11, 2012 4:15pm Jul 11, 2012 4:15pm
Quoting Balhana
Closed 1/2 at 1.5825 for +40 pips.
Hit my TP2 (1.5805) for +60 pips (+100 pips in total).
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  • #2,444
  • Jul 12, 2012 3:58am Jul 12, 2012 3:58am
Bought NU at 0.7862
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  • #2,445
  • Jul 12, 2012 4:27am Jul 12, 2012 4:27am
Quoting Balhana
Hit my TP2 (1.5805) for +60 pips (+100 pips in total).
Very nice trade, I like it
Pipcrawler
  • #2,446
  • Jul 12, 2012 4:37am Jul 12, 2012 4:37am
I missed the FTB by a smidge, but playing the compression following the break of the 44's FLS instead.
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  • #2,447
  • Jul 12, 2012 4:59am Jul 12, 2012 4:59am
Missed this whilst watching EAUD, FB off the clear SR with a long term TL as confluence.
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  • #2,448
  • Jul 12, 2012 5:05am Jul 12, 2012 5:05am
Quoting Balhana
Bought NU at 0.7862
Closed 2/3 at 0.7881 (FLR) for +38 pips.
Attached Image (click to enlarge)
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  • #2,449
  • Jul 12, 2012 7:01am Jul 12, 2012 7:01am
Quoting lovejoy80
I missed the FTB by a smidge, but playing the compression following the break of the 44's FLS instead.
Scaled out for a small net win, was really looking for a move to 1.2's. It could still fall but the reasoning for my trade has now diminished so moving on.
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  • #2,450
  • Jul 12, 2012 8:08am Jul 12, 2012 8:08am
Quoting lovejoy80
Scaled out for a small net win, was really looking for a move to 1.2's. It could still fall but the reasoning for my trade has now diminished so moving on.
Took a short on EA at 1.2058 based on 30M DBD + TL and SL at 1.2075.

EDIT: 1.2058 is aslo recent daily highest close.
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  • #2,451
  • Jul 12, 2012 8:16am Jul 12, 2012 8:16am
Quoting Balhana
Closed 2/3 at 0.7881 (FLR) for +38 pips.
Moved SL to BE+1.
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  • #2,452
  • Jul 12, 2012 8:29am Jul 12, 2012 8:29am
Quoting Balhana
Took a short on EA at 1.2058 based on 30M DBD + TL and SL at 1.2075.

EDIT: 1.2058 is aslo recent daily highest close.
Wants to take partial profit at 1.2040 level but only one lot... Moved SL down a bit to 1.2070
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  • #2,453
  • Jul 12, 2012 9:23am Jul 12, 2012 9:23am
Quoting Balhana
Wants to take partial profit at 1.2040 level but only one lot... Moved SL down a bit to 1.2070
Closed 1/1 at 1.2038 or +20 pips. It will go down fast because I closed it.
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  • #2,454
  • Jul 12, 2012 10:57am Jul 12, 2012 10:57am
Quoting Balhana
Moved SL to BE+1.
Closed rest at 0.7908 for +46 pips (+84 pips in total).
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  • #2,455
  • Jul 13, 2012 1:16am Jul 13, 2012 1:16am
Missed this Silver long yesterday, despite having everything planned out in the TR
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  • #2,456
  • Jul 13, 2012 1:18am Jul 13, 2012 1:18am
Currently long EURGBP based on the sellers trap of the M30 SR after hitting the demand shown on M15. I don't trust the flow on this pair at all so low risk and it's not behaving too well so far.
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  • #2,457
  • Jul 13, 2012 1:27am Jul 13, 2012 1:27am
One that was too early for me but (was hoping it would trigger last night).

FTB @ a H1 SR and the break of a supply zone (note the good momentum of the breakout which is key).

Zoom into lower TF's to find where the decisions were made and can see that 22/23 was where the decision was made to break the SR and head lower. That immediate retest is great confirmation that this level is proven supply (imbalance over demand).

If the zone is strong enough then price should react at this first decision point. Thus this is where we enter and our SL goes above the next main zone i.e. the source of the actual move which is also a H4 SR.

Price could in theory not react at the lower decision point but hit the source of the move instead - it depends on how strong the zone is, but a lot more often than not the first reaction occurs at the lower decision point (of course price eventually coming back to hit the source of the move can present another trading opportunity).
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  • #2,458
  • Jul 13, 2012 2:04am Jul 13, 2012 2:04am
Quoting lovejoy80
Currently long EURGBP based on the sellers trap of the M30 SR after hitting the demand shown on M15. I don't trust the flow on this pair at all so low risk and it's not behaving too well so far.
Update - FLR hit took some profit, stopped out the remainder (final TP was near the 17's).
Attached Image (click to enlarge)
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  • #2,459
  • Jul 13, 2012 3:49am Jul 13, 2012 3:49am
Had two limit sell orders on NU, one at 0.7932 (4H close) and the other @ 0.7938 (daily close). The lower one was triggered.
Attached Image (click to enlarge)
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  • #2,460
  • Jul 13, 2012 4:28am Jul 13, 2012 4:28am
Quoting lovejoy80
One that was too early for me but (was hoping it would trigger last night).

FTB @ a H1 SR and the break of a supply zone (note the good momentum of the breakout which is key).

Zoom into lower TF's to find where the decisions were made and can see that 22/23 was where the decision was made to break the SR and head lower. That immediate retest is great confirmation that this level is proven supply (imbalance over demand).

If the zone is strong enough then price should react at this first decision point. Thus this is where we enter and our...
where did price fall from - the source of the supply and the H4 SR. As per Balhana's M30 chart there was nice compression into this area.
Attached Image (click to enlarge)
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