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  • #3,701
  • Oct 7, 2012 10:55pm Oct 7, 2012 10:55pm
Agree. Japan is already out and so will be US today. A good day to take trading lightly. And in general I don't personally like taking trades before Frankfurt open or even better London open.
  • #3,702
  • Edited 11:21pm Oct 7, 2012 11:00pm | Edited 11:21pm
Quoting adam777
Waiting for eurusd (TT @1.2968 long) and usdchf (TT @0.9332 short) amongst others. Focusing on FTB till I master it.
ready for eurusd TT long @1.268 (quarter size - thanks Kwikwis)
WARNING: Don't follow me as I'm just learning
  • #3,703
  • Oct 8, 2012 5:34am Oct 8, 2012 5:34am
My current FTB seen from the line chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_m15_ftb_support_retest_line_chart_08_10_2012.jpg Size: 60 KB
  • #3,704
  • Oct 8, 2012 5:46am Oct 8, 2012 5:46am
Quoting jupiter_peak
My current FTB seen from the line chart.
Congrats on the 1000 posts!
WARNING: Don't follow me as I'm just learning
  • #3,705
  • Oct 8, 2012 6:10am Oct 8, 2012 6:10am
not much action @ the moment, just went long on AJ, nice beartrap, price is also nicely compressed, it's going to have another shot @ the supply @ 7980-ish
Attached Image (click to enlarge)
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Pipcrawler
  • #3,706
  • Oct 8, 2012 6:29am Oct 8, 2012 6:29am
Quoting xmzhang
not much action @ the moment, just went long on AJ, nice beartrap, price is also nicely compressed, it's going to have another shot @ the supply @ 7980-ish
1st target reached, closed 1/2 for 14 pips and move SL to BE+2, that supply has already been visited two times so it could be consumed, if thats the case my final target will be @ 7987-ish, moved my SL to BE+2 so there's no pressure on my trade
Attached Image (click to enlarge)
Click to Enlarge Name: xm0.jpg Size: 138 KB
Pipcrawler
  • #3,707
  • Oct 8, 2012 6:40am Oct 8, 2012 6:40am
Quoting adam777
Congrats on the 1000 posts!
LOL. Hadn't noticed.
  • #3,708
  • Oct 8, 2012 6:42am Oct 8, 2012 6:42am
Quoting xmzhang
1st target reached, closed 1/2 for 14 pips and move SL to BE+2, that supply has already been visited two times so it could be consumed, if thats the case my final target will be @ 7987-ish, moved my SL to BE+2 so there's no pressure on my trade
Fek, what a bummer ^&*%##!, price stopped my remaining position. That supply is stronger than i thought it would be ...................
Attached Image (click to enlarge)
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Pipcrawler
  • #3,709
  • Oct 8, 2012 6:53am Oct 8, 2012 6:53am
Quoting xmzhang
That supply is stronger than i thought it would be
That supply might be just the decision to break the very important support level on Daily timeframe.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #3,710
  • Oct 8, 2012 6:53am Oct 8, 2012 6:53am
nice AudEur FTB scalp in combination with LTF PA entry, 2m-QM & 2m-PB what else do you need for a sell
Attached Image(s) (click to enlarge)
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Pipcrawler
  • #3,711
  • Oct 8, 2012 6:54am Oct 8, 2012 6:54am
Quoting xmzhang
Fek, what a bummer ^&*%##!, price stopped my remaining position. That supply is stronger than i thought it would be ...................
AUD is gaining against the USD today. It also seems AU took out some resiatnce today.

Therefore, a short on AJ is kind of risky IMHO. However, 79.77 remains as resistance.
  • #3,712
  • Oct 8, 2012 7:24am Oct 8, 2012 7:24am
Quoting soso
That supply might be just the decision to break the very important support level on Daily timeframe.
Which support do you mean ? That supply was derived from a 5m-TF perspective, 7980-ish is a nice 5m-S/R-line, when price broke support via a clean bearbar price pulled back and then it was decided not to reenter above broken support via another clean bearbar, this is our DP or supply for a FTB-trade

For now - looks like price is consuming that supply, the bounces are getting smaller, i think my SL move was somewhat to tight, my SL was taken out by 1.5 pip
Attached Image (click to enlarge)
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Pipcrawler
  • #3,713
  • Oct 8, 2012 7:41am Oct 8, 2012 7:41am
Quoting jupiter_peak
AUD is gaining against the USD today. It also seems AU took out some resiatnce today.

Therefore, a short on AJ is kind of risky IMHO. However, 79.77 remains as resistance.
Huh .... ............... please look again at my post, i bought AJ entry was a beartrap
Pipcrawler
  • #3,714
  • Oct 8, 2012 7:48am Oct 8, 2012 7:48am
Quoting xmzhang
Which support do you mean ?
I was looking at the bigger picture. The 1h/4h candle that broker the multi-day support.

Good trade either way, just wanted to highlight there might be stronger than expected supply in the area.
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #3,715
  • Oct 8, 2012 8:47am Oct 8, 2012 8:47am
Quoting xmzhang
Huh .... ............... please look again at my post, i bought AJ entry was a beartrap
sorry for that. My bad...

Anyhow, longs facing resistance (supply) @ 79.77. So is AUDUSD @ 1.0203.
  • #3,716
  • Oct 8, 2012 9:15am Oct 8, 2012 9:15am
Quoting jupiter_peak
USDCAD has a very interesting technical picture at the current moment. It's trapped inside a triangle pattern. It's a very well defined formation containing last months and this months (so far) price action. The yellow bars represent last months bars. The blue ones, the alternating months. So this month is represented by the last blue bars.

Therefore, I expect a breakout soon. The main diagonal being the objective target size.

A similar situation occurred during the months of July and August only this time in Cable. The attached chart shows...
Loonie with an awesome entry @ NFP Friday Supply/Resistance level. Entry @ 0.9797 and stops above 0.9802.

Now price is 'dangerously' closing to a traingle's supportive trend line. In case of a break south, we could revisit the lows of 2011.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_cad_m5_sup_res_trap_08_10_2012_4.jpg Size: 75 KB
  • #3,717
  • Oct 8, 2012 9:29am Oct 8, 2012 9:29am
Quoting xmzhang
Which support do you mean ? That supply was derived from a 5m-TF perspective, 7980-ish is a nice 5m-S/R-line, when price broke support via a clean bearbar price pulled back and then it was decided not to reenter above broken support via another clean bearbar, this is our DP or supply for a FTB-trade

For now - looks like price is consuming that supply, the bounces are getting smaller, i think my SL move was somewhat to tight, my SL was taken out by 1.5 pip
Price comressed and now @ supply again
Attached Image (click to enlarge)
Click to Enlarge Name: uc.JPG Size: 53 KB
WARNING: Don't follow me as I'm just learning
  • #3,718
  • Oct 8, 2012 2:34pm Oct 8, 2012 2:34pm
Quoting adam777
Waiting for eurusd (TT @1.2968 long) and usdchf (TT @0.9332 short) amongst others. Focusing on FTB till I master it.
Passed on this myself - liked the overall area but it wasn't clear enough an SR for a TT FTB for me - I couldn't be sure where price would react to and thus wasn't confident in an entry and SL for this...price actually behaved like I thought it would - no strong solid reaction.
  • #3,719
  • Oct 8, 2012 2:38pm Oct 8, 2012 2:38pm
Quoting adam777
Not sure about the stop on AUDUSD TT short @1.0326 FTB as per 4h charts
Not the easiest one to plan the entry and SL as although the SR is clear on the daily TF it is not so much on H1 and lower TF's.

The lower SL option looks logical the higher one looks illogical.

I'd be considering a FTB short @ 1.0238 area prior to this area though...
  • #3,720
  • Oct 8, 2012 2:42pm Oct 8, 2012 2:42pm
Quoting Price.Action
LJ

Does this look like a decent FTB set-up?

Entry at 1.3045. SL at 1.3056.
Looks ok to me.

Your SL is too high though, that peak had nothing to do with price breaking the SR - the lower peak did and thus this is where my SL would be above.
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