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  • #3,881
  • Oct 31, 2012 12:56pm Oct 31, 2012 12:56pm
Quoting lovejoy80
I took this too (though got in late) for a quick 1R scalp (initial SL was at 60's)
Got stopped out at BE+2. Re entered here. I think it has a good chance of an up-move. BE+2 again on this (this time SL below support).
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  • #3,882
  • Oct 31, 2012 1:46pm Oct 31, 2012 1:46pm
Quoting lovejoy80
Price didn't follow through like I expected / wanted so bailed and got back in earlier today.

Price had a deeper test of demand and also formed a H1 FB. I entered after supply consumptions signs of that daily SR and clear DP.

Price is about to hit 1st target which is supply and Daily SR territory.

M30 TF chart shown on top left of the H1 chart below to show the supply consumption wicks more clearly.

Original SL was @ 1.4951
All out at 19's for +3R
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  • #3,883
  • Oct 31, 2012 3:36pm Oct 31, 2012 3:36pm
AUDUSD seems ready to pop.

Huge triangle compression against resistance.
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  • #3,884
  • Oct 31, 2012 4:56pm Oct 31, 2012 4:56pm
Quoting lovejoy80
All out at 19's for +3R
Really appreciate your response man! I do have a problem with the setup tho... Didn't we have demand consumption the day before? Is that still a fresh level?

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Also, would you consider making about 4-5 x Risk per month doable with the S/D trading point of view? Again, thanks for all the info.

GL
I don't need easy. I just need possible.
  • #3,885
  • Oct 31, 2012 4:58pm Oct 31, 2012 4:58pm
Quoting lovejoy80
All out at 19's for +3R
Pfff
  • #3,886
  • Oct 31, 2012 6:50pm Oct 31, 2012 6:50pm
Quoting DaGrizlyBull
Really appreciate your response man! I do have a problem with the setup tho... Didn't we have demand consumption the day before? Is that still a fresh level?

Attachment

Also, would you consider making about 4-5 x Risk per month doable with the S/D trading point of view? Again, thanks for all the info.

GL
1. Yes we did have some demand consumption - but can you logically conclude that this big demand zone has been fully consumed by that one touch right at the edge of the zone...

2. This is also why we look for price action to confirm to us this demand will likely hold - so an FB + rejection + signs of supply consumption (both the bars I marked in my chart and yesterdays move helped to clear the supply above).

I also really liked the daily location here and was essentially trading between two daily SR's.

3. Yes that SD was the source of the most recent strong move up.

4. To quote an intro paragraph from my forum

"If you complete the above steps, ask questions along the way and request feedback on identified setups then there is no reason why you should not be identifying and successfully trading FTB's and FB's and making the minimum 10R monthly return I always setup as the minimum benchmark for what is achievable with these strategies (to be frank this is very conservative, 20R+ is what I'd expect a fully competent trader that can view H1 and H4 TF's through London and NY sessions to be achieving on average per month)"
  • #3,887
  • Oct 31, 2012 11:40pm Oct 31, 2012 11:40pm
Again, thanks for your quick response LJ

What do you think about EURCAD? We have a FB on Daily (+ closed as a pinbar at a Resistance/Swing High level) and even on H1.
I don't need easy. I just need possible.
  • #3,888
  • Nov 1, 2012 1:06am Nov 1, 2012 1:06am
Just a thought

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I don't need easy. I just need possible.
  • #3,889
  • Nov 1, 2012 6:02am Nov 1, 2012 6:02am
Hello traders, looks like everyone is doing oke. Been pretty much occupied with work, i've been assigned to a new big project so trading is on second place for the time being. Managed to take one trade today which am still in, a nice Gbp/Chf 15m-QM, price is still hovering around my entry at the moment
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Pipcrawler
  • #3,890
  • Nov 1, 2012 6:17am Nov 1, 2012 6:17am
also looking for a Fiber QM-setup, after a nice beartrap this morning
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Pipcrawler
  • #3,891
  • Nov 1, 2012 6:51am Nov 1, 2012 6:51am
Quoting xmzhang
Hello traders, looks like everyone is doing oke. Been pretty much occupied with work, i've been assigned to a new big project so trading is on second place for the time being. Managed to take one trade today which am still in, a nice Gbp/Chf 15m-QM, price is still hovering around my entry at the moment
YES, after flagging around my entry for a while, the QM-setup finally materialized, i've banked some profit, looking for price to get to 15035 for a FTB .....................
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Pipcrawler
  • #3,892
  • Nov 1, 2012 6:57am Nov 1, 2012 6:57am
Quoting xmzhang
YES, after flagging around my entry for a while, the QM-setup finally materialized, i've banked some profit, looking for price to get to 15035 for a FTB .....................
Wanting to enter long at 5035 but the NFP is keeping me out for now.

Nice trade btw
  • #3,893
  • Nov 1, 2012 7:01am Nov 1, 2012 7:01am
also looking for a Qzzie QM-setup @ 10390-ish
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Pipcrawler
  • #3,894
  • Nov 1, 2012 7:02am Nov 1, 2012 7:02am
Quoting lovejoy80
All out at 19's for +3R
Absolutely superb trading LJ. Hats off. Going to join your forum around mid Jan. Have to get my mind around getting my stops tighter. Cant seem to go below 15 pip. It's probably a psychological thing....
  • #3,895
  • Nov 1, 2012 7:18am Nov 1, 2012 7:18am
Quoting xmzhang
YES, after flagging around my entry for a while, the QM-setup finally materialized, i've banked some profit, looking for price to get to 15035 for a FTB .....................
Closed all, now looking for a FTB buy oppertunity
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Pipcrawler
  • #3,896
  • Nov 1, 2012 7:37am Nov 1, 2012 7:37am
Another textbook one. No words needed.
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  • #3,897
  • Nov 1, 2012 7:43am Nov 1, 2012 7:43am
Quoting goldfish3
Wanting to enter long at 5035 but the NFP is keeping me out for now.

Nice trade btw
NFP is tomorrow.
  • #3,898
  • Nov 1, 2012 8:04am Nov 1, 2012 8:04am
Quoting xmzhang
also looking for a Qzzie QM-setup @ 10390-ish
Sold ozzie QM-setup, trigger was 10m-BEOB, nice CP & LQ (news spike), no FTB GbpChf trade, price went right through 15035
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Pipcrawler
  • #3,899
  • Nov 1, 2012 8:17am Nov 1, 2012 8:17am
Quoting xmzhang
Sold ozzie QM-setup, trigger was 10m-BEOB, nice CP & LQ (news spike), no FTB GbpChf trade, price went right through 15035
Do you tend to wait to see how price reacts at a level instead of entering on a blind touch trade?
  • #3,900
  • Nov 1, 2012 8:20am Nov 1, 2012 8:20am
Quoting mazdaq100
Do you tend to wait to see how price reacts at a level instead of entering on a blind touch trade?
I prefer LTF PA on a entry
Pipcrawler
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