Stopped out at 1.2350 for -15 pips (-30 pips in total).
Pipcrawler
- #2,602
- Aug 3, 2012 4:35pm Aug 3, 2012 4:35pm
Hey Balhana, good to see you back and posting, I took the same trade on the 10m-TF. I closed the trade @ BE+2. After I entered I saw that price bounced @ a supply that was disrespected twice, I had the supply marked partially on my chart but I didn't draw it further towards todays chart. That supply got respected and stalled price.
Pipcrawler
- #2,603
- Aug 3, 2012 7:06pm Aug 3, 2012 7:06pm
Sorry forgot to post chart
I'm glad you posted this chart as I followed it also
My technical analysis was very similar only the trade was slightly different. It was a FTB entry to just below the BRN at 1.2300 also on the 10min chart. Took full profits at the first major demand zone, shame because 1.220 was a better level. Total profit, approx 2.5 to 3R. Tight stop at 1.2310
This pair has been treating me very well this week.
Comments most welcome.
What a day for GB today. An old training partner won bronze at the single sculls and I'm seeing another friend box for NZ this Sunday.
Edit: Good example of a DBD on the bottom supply zone? Another tradable FTB position long? I think there are another x2 trades in this 10min chart also.
1) Clear FTB entry on the 'R' mark, straight into the immediate demand zone.
2) FTB entry to the bottom highlighted demand zone, with a PB to follow.
- #2,604
- Aug 4, 2012 7:39am Aug 4, 2012 7:39am
Hi xmzhang
I'm glad you posted this chart as I followed it also
My technical analysis was very similar only the trade was slightly different. It was a FTB entry to just below the BRN at 1.2300 also on the 10min chart. Took full profits at the first major demand zone, shame because 1.220 was a better level. Total profit, approx 2.5 to 3R. Tight stop at 1.2310
This pair has been treating me very well this week.
Comments most welcome.
What a day for GB today. An old training partner won bronze at the single sculls and I'm seeing another...
Pipcrawler
- #2,606
- Edited 8:38am Aug 4, 2012 8:09am | Edited 8:38am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Thank you for posting this chart.....I wonder what lovejoy aka " The Master " would say about this, I didn`t dare to take it on lower TF and trying to make sense of it.
Here is 1 H & 15min....
Cheers,
Michael
P.S. Sorry, all png and gif files are changed to jpg, I need to find out how to change that....
Here is 1 H & 15min....
Cheers,
Michael
P.S. Sorry, all png and gif files are changed to jpg, I need to find out how to change that....
Be like water.
- #2,607
- Aug 4, 2012 8:15am Aug 4, 2012 8:15am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
One thing I always tend to forget when trading the lower timeframes is to look at the higher timeframes. The 4H-TF gives us a very clear view what price is actually doing. After price hit the low at 24 august, we see a pole followed by a range (bullflag), the range resolved north via a new pole (RBR). Hereafter price starts moving up and down, what it actually was doing was consuming supply, that is the flag or pullback is consuming surplus supply, especially the spike on thursday consumed lots of supply, the pullback or flag completes at the base...
Michael
Be like water.
- #2,609
- Aug 5, 2012 4:27am Aug 5, 2012 4:27am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
I forgot to thank all contributors for the excellent charts highlighting bull - / beartraps. I was going through my charts and it is amazing to see that they don`t just appear as minor glitch on 15min / 5min charts, but even on 1h/4h charts as part of a " tactical move ".
One example is IMHO very good : taking the roughly 50% area of AUDUSD`s last down move ( daily ) - and then seeing how this looks on 1h.
Once again thank you !
Michael
One example is IMHO very good : taking the roughly 50% area of AUDUSD`s last down move ( daily ) - and then seeing how this looks on 1h.
Once again thank you !
Michael
Be like water.
- #2,610
- Aug 5, 2012 4:31am Aug 5, 2012 4:31am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
1) Clear FTB entry on the 'R' mark, straight into the immediate demand zone.
2) FTB entry to the bottom highlighted demand zone, with a PB to follow.
Couldn't focus on EU because I had another trade (GBP/CAD) to manage. I placed a limit buy order on GBP/CAD, which was triggered while having dinner. So I missed a chance to post it in real time.
I like you guys' analysis on EU.
Sharing is a great way to learn. Keep posting.
- #2,611
- Aug 5, 2012 4:43pm Aug 5, 2012 4:43pm
Not sure but read that people are leaving London bcos of Olympics to accomodate the guests?
Hope all is well?Early on during the build up, residence offered their houses/flats to cash in on Olympics. The underground is less populated (complete opposite to the scare mongering before hand), and west end businesses are in the red. Either way the atmosphere in the city is great. Possible retribution to last years London riots?
I like you guys' analysis on EU.
Hey Avanish, long time
Early on during the build up, residence offered their houses/flats to cash in on Olympics. The underground is less populated (complete opposite to the scare mongering before hand), and west end businesses are in the red. Either way the atmosphere in the city is great. Possible retribution to last years London riots?
Thanks Sang. Some further tasks/exercises from Mark would be nice also
hope all is well from ur side as well!
- #2,615
- Aug 6, 2012 9:19am Aug 6, 2012 9:19am
Bought EJ for a scalp to base of bearflag, price has consumed the DBD-supply
Pipcrawler
- #2,620
- Edited 4:57pm Aug 6, 2012 4:37pm | Edited 4:57pm
- | Commercial User | Joined Feb 2008 | 4,633 Posts
