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  • #3,081
  • Aug 31, 2012 9:02am Aug 31, 2012 9:02am
Quoting nonethewisa
Seconded
Still can't get my head around the quasimodo LOL
  • #3,082
  • Aug 31, 2012 9:14am Aug 31, 2012 9:14am
Quoting lovejoy80
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.
.

Id forgotten all about uncle Ben flapping his gums, thanks for the reminder...the fear of being whipsawed forced me to close ECAD for a miniscule profit.
No more DOH! trades
  • #3,083
  • Aug 31, 2012 9:29am Aug 31, 2012 9:29am
Quoting Balhana
Sold ECAD at 1.2460
Closed 1/2 at 1.2430 for +30 pips.
Attached Image (click to enlarge)
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  • #3,084
  • Aug 31, 2012 10:43am Aug 31, 2012 10:43am
Quoting Balhana
Sold EA at 1.2202
Closed 2/3 at 1.2172 for +60 pips.
Attached Image (click to enlarge)
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  • #3,085
  • Aug 31, 2012 10:44am Aug 31, 2012 10:44am
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.
Target met before the retrace to the upside. Unlinke yesterday's GBPCAD setup (which was very similar), this one reached it's target for approx. 2.5-3R.

That's it for me, about to enjoy a rare bit of London sunshine.

Happy weekend all.
  • #3,086
  • Aug 31, 2012 11:11am Aug 31, 2012 11:11am
Quoting Balhana
Closed 1/2 at 1.2430 for +30 pips.
Closed remainder at 1.2400 for +60 pips (+90 pips in total).
Attached Image (click to enlarge)
Click to Enlarge Name: ec03.jpg Size: 108 KB
  • #3,087
  • Aug 31, 2012 11:44am Aug 31, 2012 11:44am
Quoting Balhana
Closed 2/3 at 1.2172 for +60 pips.
Keep position open over the weekend? Hmmm....
Attached Image (click to enlarge)
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  • #3,088
  • Aug 31, 2012 3:30pm Aug 31, 2012 3:30pm
Hi LJ and all dear traders...

The more I try to locate S/D zone, the more questions POP in my face....

for example:

Does the time of the S/D zone before the drop or the rally has any importance? if it happens at early asian session where trading is too slow the the move up or doen take place. does it count as S/D zone?

to what TF should I zoom to check for S/D H!, M30 M5 ???

I hope you can help

Best regards

Faheem
  • #3,089
  • Sep 2, 2012 3:07am Sep 2, 2012 3:07am
Quoting faheem999
Hi LJ and all dear traders...

The more I try to locate S/D zone, the more questions POP in my face....

for example:

Does the time of the S/D zone before the drop or the rally has any importance? if it happens at early asian session where trading is too slow the the move up or doen take place. does it count as S/D zone?

to what TF should I zoom to check for S/D H!, M30 M5 ???

I hope you can help

Best regards

Faheem
Hi Faheem,

The session when the level was created is important. For example if the level was created in London session, ideally you want to trade the pullback if it arrives in the zone in another london session.

Ideally you want to trade a S/D zone from a lower timeframe inside a S/D zone from a bigger timeframe.
  • #3,090
  • Sep 2, 2012 2:03pm Sep 2, 2012 2:03pm
Quoting bosc
Hi Faheem,

The session when the level was created is important. For example if the level was created in London session, ideally you want to trade the pullback if it arrives in the zone in another london session.

Ideally you want to trade a S/D zone from a lower timeframe inside a S/D zone from a bigger timeframe.

Thanks .... great info
faheem
  • #3,091
  • Sep 3, 2012 3:56pm Sep 3, 2012 3:56pm
Quoting faheem999
Hi LJ and all dear traders...

The more I try to locate S/D zone, the more questions POP in my face....

for example:

Does the time of the S/D zone before the drop or the rally has any importance? if it happens at early asian session where trading is too slow the the move up or doen take place. does it count as S/D zone?

to what TF should I zoom to check for S/D H!, M30 M5 ???

I hope you can help

Best regards

Faheem
For me the time zone makes no difference - how price left an SD zone is what is most important as that tells us information about the SD imbalance.

Don't try and overcomplicate things by thinking about different sessions - focus more on what price is telling you on your chart.

Supply and Demand exist on every TF. As with everything a top down approach with regards TF's is recommended - think about it in terms of who is watching a particular SD zone. If something is clear on the daily down to M1 there will be more people watching it than an M1 zone in isolation...
  • #3,092
  • Sep 4, 2012 3:28am Sep 4, 2012 3:28am
Dull day yesterday. Waiting for things to pickup today.
  • #3,093
  • Sep 4, 2012 4:16am Sep 4, 2012 4:16am
Quoting lovejoy80
For me the time zone makes no difference - how price left an SD zone is what is most important as that tells us information about the SD imbalance.

Don't try and overcomplicate things by thinking about different sessions - focus more on what price is telling you on your chart.

Supply and Demand exist on every TF. As with everything a top down approach with regards TF's is recommended - think about it in terms of who is watching a particular SD zone. If something is clear on the daily down to M1 there will be more people watching it than an M1...
Thanks for your response
Best regards
Faheem
  • #3,094
  • Sep 4, 2012 4:44am Sep 4, 2012 4:44am
My buy limit at 1.0230 on AUDUSD was triggered and target (at 1.0275) hit while working.
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  • #3,095
  • Sep 4, 2012 5:08am Sep 4, 2012 5:08am
Sold GU at 1.5887 and SL @ 1.5605
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  • #3,096
  • Sep 4, 2012 5:16am Sep 4, 2012 5:16am
Quoting Balhana
Sold GU at 1.5887 and SL @ 1.5605
I'm in the same trade, same entry, tighter SL.

Was looking for a higher entry before the wedge broke but it didn't come about so sold a 5min rejection off the retrace to the wedge.
Attached Image (click to enlarge)
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  • #3,097
  • Sep 4, 2012 5:31am Sep 4, 2012 5:31am
Nice trade guys I was all over it but price missed my entry below 1.5900 by 2/3 pips. It would be good to see lower TL + 1.59 test later.
  • #3,098
  • Sep 4, 2012 6:37am Sep 4, 2012 6:37am
Quoting lovejoy80
I'm in the same trade, same entry, tighter SL.
Just moved SL to BE+1 (1.5886).
Attached Image (click to enlarge)
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  • #3,099
  • Sep 4, 2012 6:58am Sep 4, 2012 6:58am
Quoting Balhana
Just moved SL to BE+1 (1.5886).
Stopped out at BE+1. Should have taken partial profits near 1.5870? Moved SL to BE+1 too early?
  • #3,100
  • Sep 4, 2012 7:00am Sep 4, 2012 7:00am
Sold EN at 1.5843
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