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  • #3,061
  • Aug 30, 2012 10:04am Aug 30, 2012 10:04am
EU - only one long at 1.2495 Scary!
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  • #3,062
  • Aug 30, 2012 10:34am Aug 30, 2012 10:34am
Quoting Balhana
EU - only one long at 1.2495 Scary!
Closed it at 1.2505 for +10 pips.
  • #3,063
  • Edited 11:11am Aug 30, 2012 10:58am | Edited 11:11am
Quoting 5.25
I think the market reads this thread. That's a pip perfect stop before a healthy move to the down side LOL.

LJ, how do you manage your SL? Do you move to BE or allow for the trade to run?
I'm not good at managing SL, either. Hiding SL above supply (above cluster after it resolves south)... What do you think? Easier said than done....
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  • #3,064
  • Aug 30, 2012 11:25am Aug 30, 2012 11:25am
Wow...respect.

Michael
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Be like water.
  • #3,065
  • Aug 30, 2012 11:31am Aug 30, 2012 11:31am
Quoting Balhana
I'm not good at managing SL, either. Hiding SL above supply (above cluster after it resolves south)... What do you think? Easier said than done....
I'll see how it plays out on this exotic pair. Trade #3, largely based on the D1 TF.

Thanks for the feedback.
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  • #3,066
  • Aug 30, 2012 11:32am Aug 30, 2012 11:32am
Quoting msmarple
Wow...respect.

Michael
Dang!
  • #3,067
  • Aug 30, 2012 11:33am Aug 30, 2012 11:33am
Daily chart - I posted this because I think Oil is retreating and a possible trend shift in Cad pairs....

( green MA = 200, red = 50 ) ;- stops below as first target ?

Michael
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Be like water.
  • #3,068
  • Aug 30, 2012 11:42am Aug 30, 2012 11:42am
Quoting 5.25
2nd trade of the day. Short GBPCAD at S DBD zone not visible in chart. Reaction was good. Most profits banked at lower channel, remainder left to target source of channel. Holding trades is something I'm trying to refine.
This really hurts . Hit my target without me for approx 3R.
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  • #3,069
  • Aug 30, 2012 12:23pm Aug 30, 2012 12:23pm
Quoting 5.25
This really hurts . Hit my target without me for approx 3R.
I fully understand how you feel now.... I can't count how many times I have experienced it... Cheer up!

AU - possible bear trap (pulling in a lot sellers into demand). Want to look for long opps, but it is too late. Time to go to bed.
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  • #3,070
  • Aug 31, 2012 1:55am Aug 31, 2012 1:55am
Got a few things to catch up on in here I notice. Been quiet week for me as working on other projects, missed this planned FTB trade as a result (By my reckoning there was 1.65R there to the FLR).
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  • #3,071
  • Aug 31, 2012 2:14am Aug 31, 2012 2:14am
Quoting lovejoy80
Watching this area on EAUD for potential short.

Note how price reacted to that lower M5 DBD yesterday @ 1.2130...
Did anyone take this, anyone read it, anyone care?!

H4, H1 and 5min side by side comparison of where I'd marked price should turn (within the 4hr zone) and where it did.

Who'd have thought price would turn based on a tiny 5min zone, afterall we're taught 5min TF's represent noise aren't we?

Finding where real supply i.e. the big money is residing within a 9.5 (in this case) pip range is what price action trading is all about.

Not being part of the crowd that has to wait for 'confirmation' based on a higher TF pattern that might or might not form.

This would of course been an aggressive trade as it's a touch trade, we're going against a recent strong up move and we're trading lower TF's .... well that's what the novice's like to believe anyway.
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  • #3,072
  • Aug 31, 2012 2:46am Aug 31, 2012 2:46am
Quoting lovejoy80
Did anyone take this, anyone read it, anyone care?!

H4, H1 and 5min side by side comparison of where I'd marked price should turn (within the 4hr zone) and where it did.

Who'd have thought price would turn based on a tiny 5min zone, afterall we're taught 5min TF's represent noise aren't we?

Finding where real supply i.e. the big money is residing within a 9.5 (in this case) pip range is what price action trading is all about.

Not being part of the crowd that has to wait for 'confirmation' based on a higher TF pattern...
I did have an alert set up on my chart, unfortunately i didnt have it placed at the bottom of the wick (4th July) and was 10 pips higher, so alert didnt trigger
No more DOH! trades
  • #3,073
  • Edited 6:34am Aug 31, 2012 6:17am | Edited 6:34am
Quoting lovejoy80
Did anyone take this, anyone read it, anyone care?!
Did I take this? No. Did I read it? Yes. Do I care? Always
  • #3,074
  • Aug 31, 2012 7:37am Aug 31, 2012 7:37am
Sold EA at 1.2202
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  • #3,075
  • Aug 31, 2012 7:50am Aug 31, 2012 7:50am
Sold ECAD at 1.2460
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  • #3,076
  • Aug 31, 2012 8:28am Aug 31, 2012 8:28am
1st trade today I've been out at meetings.

AUDUSD30min. D consumption before the volatile breakout when hitting S. Caught this late, entry on PB.

Edit: LJ, I've been rewatching many of your free videos back to back. These trades are based on my understanding of them. They have been a HUGE benefit to me, for that I thank you .
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  • #3,077
  • Aug 31, 2012 8:34am Aug 31, 2012 8:34am
Only trade for me today - a quick circa 1R trade short on GJ. Based on the FTB to the breakout supply area.
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  • #3,078
  • Aug 31, 2012 8:39am Aug 31, 2012 8:39am
Quoting 5.25
1st trade today I've been out at meetings.

AUDUSD30min. D consumption before the volatile breakout when hitting S. Caught this late, entry on PB.

Edit: LJ, I've been rewatching many of your free videos back to back. These trades are based on my understanding of them. They have been a HUGE benefit to me, for that I thank you .
This is also a standard false breakout setup in it's own right - be careful of that demand thats been hit and the strong risk on trends this morning....plus I know most won't care but there is someone important speaking in 25mins.

Yes, having a quick read through last couple days posts can see you've picked up on the consumption and flag element rather well. You're a quick learner - I've seen a big change in you in a relatively short time period.

EDIT: Can tell it's week end / month end - I'm looking at NU not AU! Both setups are similar of course...will leave the NU chart up.

More free vids and articles to come in the coming weeks.
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  • #3,079
  • Aug 31, 2012 8:57am Aug 31, 2012 8:57am
Quoting 5.25
1st trade today I've been out at meetings.

AUDUSD30min. D consumption before the volatile breakout when hitting S. Caught this late, entry on PB.

Edit: LJ, I've been rewatching many of your free videos back to back. These trades are based on my understanding of them. They have been a HUGE benefit to me, for that I thank you .
Seconded
No more DOH! trades
  • #3,080
  • Aug 31, 2012 9:00am Aug 31, 2012 9:00am
Quoting lovejoy80
1) This is also a standard false breakout setup in it's own right

2) Yes, having a quick read through last couple days posts can see you've picked up on the consumption and flag element rather well. You're a quick learner - I've seen a big change in you in a relatively short time period.

3) More free vids and articles to come in the coming weeks.
1) Yes, agreed. Gave me added confluence to the setup.

2) This means a lot . Ignore the V's, I'm a novice trader. Your narratives and explanations of PA and order flow is what I have been missing in my approach.

3) Looking forward to this.

Spread widens... Bernanke speaks.
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