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''Trading Price II'' by PhAnti - have fun

  • #341
  • Nov 1, 2012 8:46am Nov 1, 2012 8:46am
This is worth keeping an eye on - a sort of double top; its a pole (or swap) retest with a nice pinbar and divergence confirmation.

Cheers,

George
Attached Image (click to enlarge)
Click to Enlarge Name: eca trade setup - 11012012.jpg Size: 155 KB
Low Risk Low Stress High Reward High Probability Trades
  • #342
  • Nov 1, 2012 8:54am Nov 1, 2012 8:54am
Quoting laoshi
am I doing right in marking the supply area?

is this a bullish trend or a bearish trend?

is the divergence I'm drawing correct?

where to take the trade?
I would say the middle supply level you have is more of a pivot rather than a zone.

Phanti, do you have any thoughts on pivots?
Play the players, not the cards.
  • #343
  • Nov 1, 2012 8:57am Nov 1, 2012 8:57am
Quoting GnarlyPips
I would say the middle supply level you have is more of a pivot rather than a zone.

Phanti, do you have any thoughts on pivots?
pivots are good levels to place targets/stops ...but i dont use them at all.
But since they are dynamic and calculated every day depending on the previous days highs and lows they do play a role.

''The best indicator is that one that most traders use...'' ---
Hero calls followed by margin calls...
  • #344
  • Nov 1, 2012 8:59am Nov 1, 2012 8:59am
Quoting 919gilead
This is worth keeping an eye on - a sort of double top; its a pole (or swap) retest with a nice pinbar and divergence confirmation.

Cheers,

George
yeah, supply + divergence, but i wouldnt give it a big shot, several tests ta supply and strongly rising market.
Pay attention with shorts.

Jonas
Hero calls followed by margin calls...
  • #345
  • Nov 1, 2012 9:13am Nov 1, 2012 9:13am
Another setup I am watching.

NB: I should have put a descending trendline as well
Attached Image (click to enlarge)
Click to Enlarge Name: gu trade setup - 11012012.jpg Size: 159 KB
Low Risk Low Stress High Reward High Probability Trades
  • #346
  • Nov 1, 2012 11:06am Nov 1, 2012 11:06am
Quoting PhAnTi'
Thanks for your kind words
Yes, I'm pretty close in time... the e-book i provided is the basis for this thread.
Jonas

I'm half way through the ebook and must say it is excellent. I think it's a fantastic base and explains basic concepts extremely well. You have a really talent for explaining things clearly and in a logical order. Well done!

Pete
  • #347
  • Nov 1, 2012 4:15pm Nov 1, 2012 4:15pm
Quoting PhAnTi'
a trend is defined by lower lows,lower highs, higher lows and higher highs....so try to figure out the trend at your chart and ill check your result.
We want to buy as low as possible in rising markets and sell as high as possible in falling markets = follow the overall trend to increase the odds.
Means we get good entries after breakouts, when the price retests the breakout level ( see ebook for detailed explanation ).

The divergence ain't correct, see the ebook for a couple of divergence examples. I will post some when i do have some time...
Jonas, thanx for the reply.

the chart AU I attached yesterday, is it a uptrend market?

or sideways?
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-0001.jpg Size: 71 KB
  • #348
  • Nov 1, 2012 11:07pm Nov 1, 2012 11:07pm
Both potential trades in EURCAD & GBPUSD I highlighted several hours ago have moved over 50 pips from the time I posted the charts.

Happy "pipping" to all

Shalom, and God bless

George
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  • #349
  • Nov 1, 2012 11:21pm Nov 1, 2012 11:21pm
Quoting laoshi
Jonas, thanx for the reply.

the chart AU I attached yesterday, is it a uptrend market?

or sideways?
Hi Laoshi,

The attached chart speaks for itself.
Attached Image (click to enlarge)
Click to Enlarge Name: au trade setup - 11012012.jpg Size: 174 KB
Low Risk Low Stress High Reward High Probability Trades
  • #350
  • Nov 2, 2012 12:57am Nov 2, 2012 12:57am
Quoting 919gilead
Hi Laoshi,

The attached chart speaks for itself.

thank you George, this means so much to me.

So, if the retest on down trend like that+pinbar+divergence, do you or can we take the trade?

Great decision on GU and EC
  • #351
  • Nov 2, 2012 9:32am Nov 2, 2012 9:32am
Quoting laoshi
thank you George, this means so much to me.

So, if the retest on down trend like that+pinbar+divergence, do you or can we take the trade?

Great decision on GU and EC
I will advise that you read Jonas book again, but my answer is yes. Personally I will wait for a bearish candle, drop to M15 TF to look for a safe entry in addition to another filter I use. Based on this filter, I would not have entered the AU yet - why? The USD & AUD are both strong currencies, and you will not get much mileage trading two strong currencies against each other as you will also not get anything trading two weak currencies against each other. So I use the currency strength meter to determine the best trade of the several setups I see before entry.

And yes the GU & ECA calls were good trades as they've added another 50+ pips to the over 50 pips we had before.

Good trading to you

George
Low Risk Low Stress High Reward High Probability Trades
  • #352
  • Nov 4, 2012 2:32am Nov 4, 2012 2:32am
this looks like in the Jonas' text book page 15.

but hit SL @1.2750

my questions are:
what was wrong?
my positions?
my SL?


thank you
Attached Image (click to enlarge)
Click to Enlarge Name: FF-EURCAD-00001.jpg Size: 86 KB
  • #353
  • Nov 4, 2012 2:44am Nov 4, 2012 2:44am
Quoting laoshi
what was wrong?

thank you
Well the support / resistance flip had already been tested twice recently before as support. Ideally you want to take these on the first time back.

Also look at the twin pin bars (solid double top) and you weren't buying off a demand level.
  • #354
  • Nov 4, 2012 2:45am Nov 4, 2012 2:45am
also this one.

bearish market, sell limit @0.9443 SL was @0.9473
once profit, i moved SL to BE and got kicked out.

questions:
- was my position right?
- shouldn't move the SL? or it's the right decision?
Attached Image (click to enlarge)
Click to Enlarge Name: FF-CADCHF-00001.jpg Size: 83 KB
  • #355
  • Nov 4, 2012 2:50am Nov 4, 2012 2:50am
Quoting laoshi
questions:
- was my position right?
- shouldn't move the SL? or it's the right decision?
Again this was 3rd time at that price level. It just wasn't fresh so limit orders are dangerous. You're better off waiting for price action. Now we have a pin bar... Maybe ok for a short now.
  • #356
  • Nov 4, 2012 2:52am Nov 4, 2012 2:52am
Quoting laoshi
also this one.

bearish market, sell limit @0.9443 SL was @0.9473
once profit, i moved SL to BE and got kicked out.

questions:
- was my position right?
- shouldn't move the SL? or it's the right decision?
your entry was too early and your stop loss too close

other things i notice:

- price arrives the third time... can be a bit harsh for turning, fresh levels are always better
- the real supply zone starts 20 pips higher than your marked one
- if you zoom into 5min , you see that price got respected at your drawn supply level, but then got compressed
  • #357
  • Nov 4, 2012 4:23am Nov 4, 2012 4:23am
Quoting 919gilead
Hi Laoshi,

The attached chart speaks for itself.
What is the break in the chart of ? I dont understand ...
Human
  • #358
  • Nov 4, 2012 7:38am Nov 4, 2012 7:38am
Quoting laoshi
this looks like in the Jonas' text book page 15.

but hit SL @1.2750

my questions are:
what was wrong?
my positions?
my SL?


thank you
well, you did a great analysis of the given setup...but why didnt this trade work out ?

1st ) what made u entering ? Did you have a certain price structure or pattern that made you buying ? Or did you just enter off this marked level without any confirmation of a trend continuation ?

If so, price proved you being wrong. As simples... the r:r is very high here, so one of the next trades like that one will work out and you are in profit.

(Considering that you are talking about buy and sell limits you just entered at the touch of the level,but you didnt check pricer action and divergence for a possible confirmation.)
Hero calls followed by margin calls...
  • #359
  • Nov 4, 2012 7:38am Nov 4, 2012 7:38am
Quoting 919gilead
Hi Laoshi,

The attached chart speaks for itself.
Hero calls followed by margin calls...
  • #360
  • Nov 4, 2012 9:21am Nov 4, 2012 9:21am
Hi All...

Glad this thread is back.... Im so happy and excited again...

my trade plan... wait and see for the price and trigger...

any critics and advices are welcome..

http://s14.postimage.org/3ku9tx90h/trial_error11.jpg
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