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  • #3,101
  • Sep 4, 2012 7:04am Sep 4, 2012 7:04am
Quoting lovejoy80
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.
All out, final SL placement wasn't overly clever, but looks like I got away with it (i.e. price not reacting at that SR).

Scaled out 25% at FLS, 50% @ 2nd target etc.
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 32 KB
  • #3,102
  • Sep 4, 2012 7:05am Sep 4, 2012 7:05am
Quoting Balhana
Sold EN at 1.5843
Closed 2/3 at 1.5828 for +30 pips. Looks a bit premature.... due to the GU trade...
Attached Image (click to enlarge)
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  • #3,103
  • Sep 4, 2012 7:07am Sep 4, 2012 7:07am
scalp EJ, CP & LQ to base of pole
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 158 KB
Pipcrawler
  • #3,104
  • Sep 4, 2012 7:11am Sep 4, 2012 7:11am
Hi,

Is NZDUSD approching a demand zone around 0.7924 (date: 26.07.2012)

I hope you can help me with this one
  • #3,105
  • Sep 4, 2012 7:23am Sep 4, 2012 7:23am
Sold GJ at 124.50
Attached Image (click to enlarge)
Click to Enlarge Name: gj01.jpg Size: 102 KB
  • #3,106
  • Sep 4, 2012 7:30am Sep 4, 2012 7:30am
Quoting xmzhang
scalp EJ, CP & LQ to base of pole
Closed at 2H-demand, nice R:R trade
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 173 KB
Pipcrawler
  • #3,107
  • Sep 4, 2012 7:34am Sep 4, 2012 7:34am
Quoting faheem999
Hi,

Is NZDUSD approching a demand zone around 0.7924 (date: 26.07.2012)

I hope you can help me with this one
Yes it is, it's one we were watching this morning. Price came very close to the first decision level we were interested in but actual reacted at a higher level (look at M1).

But yes this is a clear demand zone.
  • #3,108
  • Sep 4, 2012 7:42am Sep 4, 2012 7:42am
Quoting lovejoy80
Yes it is, it's one we were watching this morning. Price came very close to the first decision level we were interested in but actual reacted at a higher level (look at M1).

But yes this is a clear demand zone.
Thanks BJ....
May I know the demand zone limits??
Thanks again
  • #3,109
  • Sep 4, 2012 8:50am Sep 4, 2012 8:50am
bought fiber @ 1H-PPZ, pullback via bullflag and also QM
Attached Image (click to enlarge)
Click to Enlarge Name: xmz2.jpg Size: 154 KB
Pipcrawler
  • #3,110
  • Sep 4, 2012 9:05am Sep 4, 2012 9:05am
Quoting xmzhang
bought fiber @ 1H-PPZ, pullback via bullflag and also QM
can you explain this trade please
  • #3,111
  • Sep 4, 2012 9:33am Sep 4, 2012 9:33am
Quoting Balhana
Closed 2/3 at 1.5828 for +30 pips. Looks a bit premature.... due to the GU trade...
Remainder stopped out at 1.5863 for -20 pips (+10 pips in total).
  • #3,112
  • Sep 4, 2012 9:54am Sep 4, 2012 9:54am
Quoting xmzhang
bought fiber @ 1H-PPZ, pullback via bullflag and also QM
Caught this one too. Like for like. All out at 1.2590. This is a very powerfull chart pattern since I started using it.
  • #3,113
  • Sep 4, 2012 9:55am Sep 4, 2012 9:55am
Quoting faheem999
can you explain this trade please
Hi there, there was/is a nice base/support on the 1H-TF. I was looking for a bounce there, its not a FTB so I look for suitable price action to enter long. On the 5m-TF price gave me this PA via a Quasimodo one of my favourite reversal pattern, if you don't know what a QM is, I suggest to look at Mark's video's at the start of this wonderfull thread Target would be the 1H-supply right above 1H-resistance, that's where I closed my scalptrade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xmz4.jpg Size: 140 KB
Click to Enlarge Name: xmz3.jpg Size: 157 KB
Pipcrawler
  • #3,114
  • Edited 2:29pm Sep 4, 2012 2:19pm | Edited 2:29pm
Quoting faheem999
Thanks LJ....
May I know the demand zone limits??
Thanks again
What I do is define the zone roughly on H4 and then zoom in to find where the key levels were broken and this tells us where demand is likely situated.

I'm long NU based on price reacting of the lower decision level marked (having taken a BE on the reaction off the first decision level) with confluence of S&P futures sitting on demand too (don't be fooled that this was fourth time back and thus likely to break - this was first time back to the deeper demand) with a classic false breakout setup also formed on S&P 15min.

Charts below are H4, M1, M5 (M5 to show where price reacted off today relative to the M1 levels marked within the H4 demand zone).

I would also add that on the first return to a demand zone we do not expect the 'source of the move / demand' to be tested - that's if you pick your demand and supply zones wisely.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Nu2.jpg Size: 94 KB
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Click to Enlarge Name: EP1.jpg Size: 113 KB
Click to Enlarge Name: S&P2.jpg Size: 93 KB
  • #3,115
  • Sep 5, 2012 12:44am Sep 5, 2012 12:44am
NU trade hit 2nd target overnight.

We can a potential bear flag in formation, will be watching how price breaks and how it reacts closer to the source of the H4 demand. If it breaks higher I'll be looking at how it interacts with the daily SR + supply marked.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: NUtrade2.jpg Size: 89 KB
  • #3,116
  • Sep 5, 2012 3:17am Sep 5, 2012 3:17am
Quoting Balhana
Sold GJ at 124.50
Hit my TP1 (124.10). I'm at work right now so can't post charts...
  • #3,117
  • Sep 5, 2012 4:32am Sep 5, 2012 4:32am
Quoting lovejoy80
NU trade hit 2nd target overnight.

We can a potential bear flag in formation, will be watching how price breaks and how it reacts closer to the source of the H4 demand. If it breaks higher I'll be looking at how it interacts with the daily SR + supply marked.

Dear LJ,

Thanks for the detailed replay, very kind of you....

I placed my buy before going out yesterday and missed by 2 pips.
I will try to enter again ob a pullback......I hope!
Faheem
  • #3,118
  • Sep 5, 2012 4:55am Sep 5, 2012 4:55am
Quoting Balhana
Hit my TP1 (124.10). I'm at work right now so can't post charts...
Reminder stopped out at BE while coming back home.
Attached Image (click to enlarge)
Click to Enlarge Name: gj02.jpg Size: 101 KB
  • #3,119
  • Sep 5, 2012 6:27am Sep 5, 2012 6:27am
Sold GBP/NZD at 2.0036
Attached Image (click to enlarge)
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  • #3,120
  • Sep 5, 2012 6:29am Sep 5, 2012 6:29am
If price approaches a recent S/D area and then passes through it completely unaffected, would you then, from a trading perspective, ignore that SD area when price approached it again in the future?

Cheers
NTW
No more DOH! trades
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