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  • #3,761
  • Oct 11, 2012 7:41am Oct 11, 2012 7:41am
And this too, what looks like a good one failed. In the HTF it was reacting to a SR zone though
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Riding the order flow
  • #3,762
  • Oct 11, 2012 7:50am Oct 11, 2012 7:50am
Quoting Binyamin
And this too, what looks like a good one failed. In the HTF it was reacting to a SR zone though
Not one I was looking at or would have taken. I discussed this one in the room this morning.

It's gotta be something pretty special for me to want to trade an M15 TF FTB on a cross pair and this certainty isn't it. No real substance to the zone and no clear edge / DP makes this an easy pass.
  • #3,763
  • Oct 11, 2012 7:56am Oct 11, 2012 7:56am
Quoting ak45
LJ,

Just wondering, did you have the following on your radar.

I cancelled my order after it missed my entry by less than a pip.
It's not something I'd be getting that excited about. My main trading for FTB's isn't to go searching VLTF for setups - I scan H1, H4 for the main part and at times will zoom in to see if there are any setups - but they gotta be damn obvious and jump out at me and this one doesn't.

I'd be viewing it as more an SR FTB than an SD zone as the zone isn't well defined.

I can see why someone would take that, but it's not something that I'm gonna be overly fussed about.
  • #3,764
  • Oct 11, 2012 8:15am Oct 11, 2012 8:15am
As a guide to the TF's I focus on, from the start of September until yesterday here is a breakdown of the number of setups I've shared in the Trading Room (that have been triggered) for each TF.

M1 - 0
M5 - 0
M15 - 12 (15%)
M30 - 9 (11%)
H1 - 48 (59%)
H4 - 10 (12%)
Daily - 2 (3%)

Relatively small sample, but gives a flavour of the TF's I find my setups on.
  • #3,765
  • Oct 11, 2012 8:40am Oct 11, 2012 8:40am
lj is that an area of substance acoording to ur standards ?
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  • #3,766
  • Edited 9:38am Oct 11, 2012 9:27am | Edited 9:38am
Quoting lovejoy80
As a guide to the TF's I focus on, from the start of September until yesterday here is a breakdown of the number of setups I've shared in the Trading Room (that have been triggered) for each TF.

M1 - 0
M5 - 0
M15 - 12 (15%)
M30 - 9 (11%)
H1 - 48 (59%)
H4 - 10 (12%)
Daily - 2 (3%)

Relatively small sample, but gives a flavour of the TF's I find my setups on.
Here you go from H4. Big mover on GJ.

Edit: H1 too.
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  • #3,767
  • Oct 11, 2012 10:31am Oct 11, 2012 10:31am
Took this one just now from m30/H1.
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  • #3,768
  • Oct 11, 2012 11:19am Oct 11, 2012 11:19am
Quoting extremerrage
lj is that an area of substance acoording to ur standards ?
I have an order at 1.29758. SL at 1.29838 (8 pips)
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  • #3,769
  • Oct 11, 2012 11:31am Oct 11, 2012 11:31am
Quoting lovejoy80
Ha, I really didn't like that EJ setup - much preferred the CHFJPY one, but cancelled my order when price missed by a smidge and moved to FLS...was a mistake as didn't see the distribution that was going on and price duly came back had a 'proper' test before moving back to FLS again.

Only trades for me today were an ACAD FTB short and am currently in an EURGBP FTB short.
I managed to make 1.5R on this trade. Entry was at 101.129. SL @ 101.219 (9 pips). Closed half at 101.039 (9 pips) and the other half at 100.949 (18 pips).
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  • #3,770
  • Oct 11, 2012 1:20pm Oct 11, 2012 1:20pm
Quoting jupiter_peak
Took this one just now from m30/H1.
I took a quick scalp at this location, but it was based on rejection off the zone and a compression wedge (M5 TF).
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  • #3,771
  • Oct 11, 2012 1:24pm Oct 11, 2012 1:24pm
Quoting extremerrage
lj is that an area of substance acoording to ur standards ?
Yeah this one is a better one.
  • #3,772
  • Oct 11, 2012 1:30pm Oct 11, 2012 1:30pm
Quoting Price.Action
I managed to make 1.5R on this trade. Entry was at 101.129. SL @ 101.219 (9 pips). Closed half at 101.039 (9 pips) and the other half at 100.949 (18 pips).
Logical analysis and entry + SL, but you're a bit cautious with your exits aren't you?

My FLS would have been 84 area - the move up to your entry area looks like a liquidity spike to me which I would have expected to be duly reversed.
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  • #3,773
  • Oct 11, 2012 1:33pm Oct 11, 2012 1:33pm
Quoting lovejoy80
Update, have banked some profit, now SL is above the M15 DBD that formed and has been tested (M15 and H1 TF charts below).

Final TP is a daily demand area but plenty of bumps / hurdles along the way so will watch PA but prepared to give this time and space to see what it can do.
Didn't get the runner I was looking for so scaled out final positions when we had supply consumption at the M15 DBD for +1.37R.
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  • #3,774
  • Oct 11, 2012 2:12pm Oct 11, 2012 2:12pm
Quoting lovejoy80
Didn't get the runner I was looking for so scaled out final positions when we had supply consumption at the M15 DBD for +1.37R.
I missed a retest of the broken S/R level (also TL level) for a reentry on EG.

One can clearly see the impulsive move after the break, the correction and the rejection at the S/R level. Very clear on the line chart.

For some reason I failed to see this resistance earlier and missed the entry by some 5 pips as I placed my trade a bit higher @ some supply area.
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  • #3,775
  • Oct 11, 2012 2:32pm Oct 11, 2012 2:32pm
Quoting lovejoy80
I took a quick scalp at this location, but it was based on rejection off the zone and a compression wedge (M5 TF).
Closed a portion of my position too. However, will leave the rest to run because I truly believe this is a support turned resistance kind of situation where the impulsive move to break it was made, a corrective one too and now it will resume down.

Lets see what happens.
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  • #3,776
  • Oct 11, 2012 3:22pm Oct 11, 2012 3:22pm
Took a trade last night on EURCAD, first one since studying your method LJ. Went short at 1.2652, S/L above 1.2667. I exited at the pink line, 1.2634. I defined this as my FLS. However, I'm not sure if this was really too minor a level to qualify as FLS. Another option could have been down at 1.2602 where it bounced nicely. Wasn't keen to hold overnight so this also influenced me exiting when I did.

LJ - would be interested in what you think was the correct FLS on this one? Thanks.
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  • #3,777
  • Edited 9:32pm Oct 11, 2012 8:17pm | Edited 9:32pm
Quoting lovejoy80
Logical analysis and entry + SL, but you're a bit cautious with your exits aren't you?

My FLS would have been 84 area - the move up to your entry area looks like a liquidity spike to me which I would have expected to be duly reversed.
Honestly, I started trading FTBs around 1-2 weeks back. And I am liking it a lot for the following reasons:

1. My strike rate has improved.
2. Quick exits as the SL and TPs are really small - suits my mentality.
3. Good trading frequency - around 3 trades a week.

So, at the moment I am focussing more on entries and SLs. I would agree that my TPs (for the time being) are not based on FLS but they are a multiple of my R - which is not logical. Most of times it is only 1R. I would soon also focus on placing TPs at the correct and more logical areas once I get more confidence with entries and SLs.

Also LJ, can you explain what did you mean by liquidity spike?
  • #3,778
  • Oct 12, 2012 4:42am Oct 12, 2012 4:42am
Quoting Price.Action
Honestly, I started trading FTBs around 1-2 weeks back. And I am liking it a lot for the following reasons:

1. My strike rate has improved.
2. Quick exits as the SL and TPs are really small - suits my mentality.
3. Good trading frequency - around 3 trades a week.

So, at the moment I am focussing more on entries and SLs. I would agree that my TPs (for the time being) are not based on FLS but they are a multiple of my R - which is not logical. Most of times it is only 1R. I would soon also focus on placing TPs at the correct and more...
Okay, I'll let you off with regards using R multiple for TP setting, for now

Personally I have around 1-2 trades per day on average with FTB's.

I explained liquidity spike in my 2nd FTB video which is available on my website in the members only section (it's free to join).

A new video will be uploaded over the weekend, not sure if it will be FTB Part 3 (as am thinking a webinar would be better to recap everything and explain the final concepts regarding trade targets and other things to consider like news, and how price moves towards the FTB area) though, might be False Breakouts Part 1 instead.
  • #3,779
  • Oct 12, 2012 4:44am Oct 12, 2012 4:44am
Quoting mazdaq100
Took a trade last night on EURCAD, first one since studying your method LJ. Went short at 1.2652, S/L above 1.2667. I exited at the pink line, 1.2634. I defined this as my FLS. However, I'm not sure if this was really too minor a level to qualify as FLS. Another option could have been down at 1.2602 where it bounced nicely. Wasn't keen to hold overnight so this also influenced me exiting when I did.

LJ - would be interested in what you think was the correct FLS on this one? Thanks.
I would have marked those two areas too as FLS and 2nd target.

Anyone catch this one this morning - GCHF H1?
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  • #3,780
  • Oct 12, 2012 4:52am Oct 12, 2012 4:52am
Quoting lovejoy80
I would have marked those two areas too as FLS and 2nd target.

Anyone catch this one this morning - GCHF H1?

Ha, i had the CP marked on my chart and i even had a support line drawn beneath at 1.4949...and i still missed it! I think i must be watching too many pairs and im suffering from chart blindness
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