LJ Forex Group | Page 134 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

JPY Group - Best Group to Trade 60 replies

Your experience with Forex.com [GAIN Capital Group, LLC] 37 replies

Forex Techniques Development Group 24 replies

FOREX, Robert Gray, FXLQ, and Nfa/ctfc... PLEASE REPOST IN EVERY GROUP 0 replies

Attachments: LJ Forex Group
Exit Attachments

LJ Forex Group

  • #2,661
  • Aug 8, 2012 9:00am Aug 8, 2012 9:00am
I would also add that on M1 price action also told us when price was likely to move south i.e. as well as the bigger picture telling us to expect a sharp downward move etc.
Attached Image (click to enlarge)
Click to Enlarge Name: ej2.png Size: 36 KB
  • #2,662
  • Aug 8, 2012 9:11am Aug 8, 2012 9:11am
Quoting lovejoy80
I would also add that on M1 price action also told us when price was likely to move south i.e. as well as the bigger picture telling us to expect a sharp downward move etc.
Quoting xmzhang
I could've told you that in advance becose this is the path of least resistance due to the compression before ................ so you see price thinks ahead and is a TRUE leading indicator
Thanks to you both. I meant to say that the buildup before the flag was demand consumption Either way, the analysis is relative to my thinking.
  • #2,663
  • Aug 8, 2012 10:15am Aug 8, 2012 10:15am
Quoting Balhana
I agree that it was not a strong bull trap. Actually I took it based on daily resistance. Maybe my SL was too tight.

Bought USD/CAD at 0.9965 based on daily demand and 15M QM.
Stopped out at 0.9945 for -20 pips (-40 pips in total). Not good today.
  • #2,664
  • Edited 10:42am Aug 8, 2012 10:27am | Edited 10:42am
Quoting lovejoy80
Took final profit when price reacted off the daily demand couple with S&P sitting on support for +1.9R.

Am now long EU from 1.2328 and have reduced net risk to zero by banking 50% profit at FLR of 1.2345 and reducing SL by same amount of pips.
Taken some more profit and moved SL up. Have locked in just over 1R on this trade and circa 3R for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 18 KB
  • #2,665
  • Aug 8, 2012 10:38am Aug 8, 2012 10:38am
Quoting Balhana
I agree that it was not a strong bull trap. Actually I took it based on daily resistance. Maybe my SL was too tight.

Bought USD/CAD at 0.9965 based on daily demand and 15M QM.
It was a bit of an iffy looking QM IMO (I don't even have the first LL's on my feed for some reason) - did you not reduce some risk when it hit supply @ 78's (which was also a bearish QM on M5)?
  • #2,666
  • Aug 8, 2012 11:12am Aug 8, 2012 11:12am
Quoting lovejoy80
It was a bit of an iffy looking QM IMO (I don't even have the first LL's on my feed for some reason) - did you not reduce some risk when it hit supply @ 78's (which was also a bearish QM on M5)?
Yes, it was a bearish QM on 5M. I thought it would retest parity or go at least to 0.9985-90.

Will not be able to trade tomorrow due to my day job. See you the day after tomorrow. Good luck!!
  • #2,667
  • Aug 9, 2012 8:34am Aug 9, 2012 8:34am
bought EJ for a scalp, 5m-PB at the bottom of bullflag and disrespected DBD-suplly, I'am anticipating that price breach swinglow and visit the base of the bearflag
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 154 KB
Pipcrawler
  • #2,668
  • Aug 9, 2012 8:51am Aug 9, 2012 8:51am
Price missed my order by a fraction on an EJ long (order was at 34's), it did exactly as expected though.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej1.png Size: 28 KB
Click to Enlarge Name: ej2.gif Size: 20 KB
  • #2,669
  • Aug 9, 2012 8:53am Aug 9, 2012 8:53am
Quoting xmzhang
bought EJ for a scalp, 5m-PB at the bottom of bullflag and disrespected DBD-suplly, I'am anticipating that price breach swinglow and visit the base of the bearflag
YES, closed all as price is approaching base of bearflag, no need to be greedy, I've learned my lesson this morning. I had a set and forget trade going on from yesterday evening, during the asian session price came within 0.8 pip from my sell limit before it dropped, instead of 20 pip profit my SL got hit and left me with -10 pip. Fortunately the EJ-trade gave me 2X20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 153 KB
Pipcrawler
  • #2,670
  • Aug 9, 2012 9:21am Aug 9, 2012 9:21am
Feck #@!%& price stopped me out, beartrap setup on fiber, sorry couldn't post this on time, it's a 1m-scalp going very fast, I entered via the IPB. Price breaking a bullflag and support south, then hits demand below and bounces trapping sellers. Price first went my way but then pulled back and stopped me out for 2X-3 pip. The broken bullflag made price pullback I guess, price is taking off now...........maybe my SL was to tight
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 172 KB
Click to Enlarge Name: xmz3.jpg Size: 165 KB
Pipcrawler
  • #2,671
  • Aug 9, 2012 9:28am Aug 9, 2012 9:28am
Quoting xmzhang
YES, closed all as price is approaching base of bearflag, no need to be greedy, I've learned my lesson this morning. I had a set and forget trade going on from yesterday evening, during the asian session price came within 0.8 pip from my sell limit before it dropped, instead of 20 pip profit my SL got hit and left me with -10 pip. Fortunately the EJ-trade gave me 2X20 pips
looks like price eventually made it the base of the bearflag with the help of a beartrap
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 155 KB
Pipcrawler
  • #2,672
  • Aug 9, 2012 11:37am Aug 9, 2012 11:37am
Quoting lovejoy80
Price missed my order by a fraction on an EJ long (order was at 34's), it did exactly as expected though.
Didn't miss this one though, exactly 1R banked and that's me done for the week as having a days vacation tomorrow, a good week with 13.2R banked.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uchf1.png Size: 27 KB
Click to Enlarge Name: uchf2.gif Size: 22 KB
  • #2,673
  • Aug 9, 2012 12:09pm Aug 9, 2012 12:09pm
Quoting lovejoy80
Didn't miss this one though, exactly 1R banked and that's me done for the week as having a days vacation tomorrow, a good week with 13.2R banked.
So, not the best of weeks then?

See you when you get back.
  • #2,674
  • Aug 9, 2012 12:42pm Aug 9, 2012 12:42pm
Quoting 5.25
So, not the best of weeks then?

See you when you get back.
Ha ha!

One more setup that is working out (I'm not in it myself mind) - a CJ short (that makes it 4/4 this week so far for the more obvious FTB setups I share in the Trading Room - EJ, UCHF today, EU yesterday and the current CJ setup).

Summer markets aren't so bad after all

Good weekend to all.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cj1.jpg Size: 89 KB
Click to Enlarge Name: cj2.jpg Size: 111 KB
  • #2,675
  • Aug 10, 2012 4:19am Aug 10, 2012 4:19am
Quoting lovejoy80
Ha ha!

One more setup that is working out (I'm not in it myself mind) - a CJ short (that makes it 4/4 this week so far for the more obvious FTB setups I share in the Trading Room - EJ, UCHF today, EU yesterday and the current CJ setup).

Summer markets aren't so bad after all

Good weekend to all.
CJ went on to hit the main FLS which would have given an easy 1R+ win.

Got couple hours before head off for a long weekend so left my AJ order in play. Before chart and current chart attached. The close FLR has been hit so I've reduced my exposure by tightening my SL (originally @ 82.27) and am targeting the next SR marked rather than the technical FLR of 60's.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cj3.jpg Size: 110 KB
Click to Enlarge Name: aj.png Size: 27 KB
Click to Enlarge Name: aj2.jpg Size: 71 KB
  • #2,676
  • Aug 10, 2012 9:11am Aug 10, 2012 9:11am
Bought EJ at 95.90
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 01.jpg Size: 78 KB
  • #2,677
  • Aug 10, 2012 9:30am Aug 10, 2012 9:30am
Quoting Balhana
Bought EJ at 95.90
Closed 1/2 at 96.20 for +30 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 02.jpg Size: 78 KB
  • #2,678
  • Aug 10, 2012 9:34am Aug 10, 2012 9:34am
good move from HTF Demand Level, lets see where it goes in the next week
Attached Image (click to enlarge)
Click to Enlarge Name: euro123.gif Size: 18 KB
DM if you have any questions
  • #2,679
  • Edited 1:23pm Aug 10, 2012 9:54am | Edited 1:23pm
Quoting jkrick33
good move from HTF Demand Level, lets see where it goes in the next week
I think the HTF demand you are referring to has been tested once already. But you took this trade as a TT. Can I ask what made you so confident?
  • #2,680
  • Aug 10, 2012 10:05am Aug 10, 2012 10:05am
Ive been picking apart longs on this pair all week. I saw the low from last month broken. We had price action north, and all these positions were taken with low risk. The range its given all week hasnt hurt on any shorts either.
DM if you have any questions
12 traders viewing now