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  • #3,721
  • Edited 9:11pm Oct 8, 2012 8:47pm | Edited 9:11pm
LJ, Thanks for your feedback on EURUSD.

How about this one? Decent S/R at 78.517 area on H1 and H4. Entry at 78.517 and SL at 78.562?

Also, 78.494 was where the price opened after the NFP data was released. Does this even remotely matter now or adds up as a confluence to take a short when price comes back to it?
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  • #3,722
  • Oct 8, 2012 11:26pm Oct 8, 2012 11:26pm
Very busy Asia session.

USDCAD inside this weeks low/support/supply. Also testing the trend line that can be drawn from last months low and this months low.

AUDUSD also testing some resistance/supply area (1.02420 after retesting the demand it originally broke out from during yesterdays session.

EU testing some supply around the 1.2985 area.

GU trying to break away from some very tight supply area between 1.6043 and 1.6038.

All good trades betting in favor of USD devaluation.
  • #3,723
  • Oct 9, 2012 2:14am Oct 9, 2012 2:14am
Quoting Price.Action
LJ, Thanks for your feedback on EURUSD.

How about this one? Decent S/R at 78.517 area on H1 and H4. Entry at 78.517 and SL at 78.562?

Also, 78.494 was where the price opened after the NFP data was released. Does this even remotely matter now or adds up as a confluence to take a short when price comes back to it?
This one is on my radar, would be good if price continues to compress on it's way up to the DBD.
  • #3,724
  • Oct 9, 2012 2:23am Oct 9, 2012 2:23am
Quoting lovejoy80
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...
...
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  • #3,725
  • Oct 9, 2012 2:26am Oct 9, 2012 2:26am
Here are this weeks planned setups that have triggered so far - useful for people that are new to FTB's to see the types of setups I'm looking at.

1. NJ H1 TF
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  • #3,726
  • Oct 9, 2012 2:28am Oct 9, 2012 2:28am
2. NJ H1 TF
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  • #3,727
  • Oct 9, 2012 2:29am Oct 9, 2012 2:29am
3. CHFJPY M30
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  • #3,728
  • Oct 9, 2012 2:37am Oct 9, 2012 2:37am
4. AJ M15
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  • #3,729
  • Oct 9, 2012 2:41am Oct 9, 2012 2:41am
5. GNZD H1 - didn't quite go to plan lol!
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  • #3,730
  • Oct 9, 2012 2:44am Oct 9, 2012 2:44am
6. GAUD M30
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  • #3,731
  • Oct 9, 2012 2:47am Oct 9, 2012 2:47am
7. NCAD H4
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  • #3,732
  • Oct 9, 2012 2:48am Oct 9, 2012 2:48am
8. AU M15
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  • #3,733
  • Oct 9, 2012 2:50am Oct 9, 2012 2:50am
9. CJ M15
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  • #3,734
  • Oct 9, 2012 3:10am Oct 9, 2012 3:10am
EJ missed my order by 0.5 pips
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  • #3,735
  • Oct 9, 2012 3:13am Oct 9, 2012 3:13am
Hi LJ,

I have been following your thread for a while now. I am trading around my existing work commitments and have been positive for the last 2 or so months (with your help), so a big thank you from me.

Due to my work I don't contribute much to the thread but do follow it daily.

11 consecutive winners then the following. Just got the decision point wrong.

I see you didn't take this trade; Could you have entered on PA rather than a TT, ie. on the line.
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  • #3,736
  • Oct 9, 2012 3:35am Oct 9, 2012 3:35am
Quoting lovejoy80
EJ missed my order by 0.5 pips
Hi LJ

I've been looking at your method over the past few weeks and it has really improved my trading, thank you.

Regarding the E/J trade that you just missed out on, was your order around 101.84 as this was the SR level due to the lows created on 4th and 5th October? I had my order in around 101.89 as I was analysing the DP that led to the breakout below the SR level yesterday. I'm just trying to understand if my analysis was wrong or not.

Thanks.
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  • #3,737
  • Oct 9, 2012 3:51am Oct 9, 2012 3:51am
Quoting mazdaq100
Hi LJ

I've been looking at your method over the past few weeks and it has really improved my trading, thank you.

Regarding the E/J trade that you just missed out on, was your order around 101.84 as this was the SR level due to the lows created on 4th and 5th October? I had my order in around 101.89 as I was analysing the DP that led to the breakout below the SR level yesterday. I'm just trying to understand if my analysis was wrong or not.

Thanks.
Yes my order was at 84.

There were two ways to look at this as you outlined above - the SR created from bar lows at the start of October or the more recent DBD that lead to the move lower.

Ordinarily I place more importance on the most recent price action and most recent breakout - but in this instance a) the SR was very recent and b) it was very clear and thus for me this was a significant enough DP for me to have reasonable expectations that price might find supply on the return to here.
  • #3,738
  • Oct 9, 2012 3:58am Oct 9, 2012 3:58am
Quoting ak45
Hi LJ,

I have been following your thread for a while now. I am trading around my existing work commitments and have been positive for the last 2 or so months (with your help), so a big thank you from me.

Due to my work I don't contribute much to the thread but do follow it daily.

11 consecutive winners then the following. Just got the decision point wrong.

I see you didn't take this trade; Could you have entered on PA rather than a TT, ie. on the line.
Yeah I didn't like the UCHF / EU setups for TT's - just didn't like the lack of clarity at the recent breakout - so yes I'd be looking for PA and watching correlated asset classes.

For example this was the USDx location when price hit that DP on EU ... this location on USDx is certainly more attractive for a reversal than the EU location - thus I'd be using this to add confluence to that location on EU etc.

BTW: Nice going on 11 consecutive winners...if you don't mind me asking, what's your average R on these and over what time period did you take 11 trades?
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  • #3,739
  • Oct 9, 2012 4:10am Oct 9, 2012 4:10am
Quoting lovejoy80
Yeah I didn't like the UCHF / EU setups for TT's - just didn't like the lack of clarity at the recent breakout - so yes I'd be looking for PA and watching correlated asset classes.

For example this was the USDx location when price hit that DP on EU ... this location on USDx is certainly more attractive for a reversal than the EU location - thus I'd be using this to add confluence to that location on EU etc.

BTW: Nice going on 11 consecutive winners...if you don't mind me asking, what's your average R on these and over what time period did...
Hi LJ,

I can see the potential so I am trying to organise my work schedule around my trading rather than the other way round.

11 winners, 3 scratch trades over the last 2 weeks (when I started to dedicate more time to trading) - average 1.4R.

Amar
  • #3,740
  • Oct 9, 2012 4:31am Oct 9, 2012 4:31am
Quoting lovejoy80
Yes my order was at 84.

There were two ways to look at this as you outlined above - the SR created from bar lows at the start of October or the more recent DBD that lead to the move lower.

Ordinarily I place more importance on the most recent price action and most recent breakout - but in this instance a) the SR was very recent and b) it was very clear and thus for me this was a significant enough DP for me to have reasonable expectations that price might find supply on the return to here.
Understood, thanks LJ.
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