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  • #3,901
  • Nov 1, 2012 6:21am Nov 1, 2012 6:21am
Quoting mazdaq100
NFP is tomorrow.
  • #3,902
  • Nov 1, 2012 6:22am Nov 1, 2012 6:22am
Gbp/Jpy 4h chart with 5 min QM
Its time to drop
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Anything can happen - You never know
  • #3,903
  • Nov 1, 2012 7:12am Nov 1, 2012 7:12am
Quoting DaGrizlyBull
Hey LJ! Thanks for the free videos on your website, saw them all Any date on the 2nd part of the "Trading False Breakouts" by any chance?

What do you think about this setup? Thanks!

Attachment

This one worked out nicely No entry though...

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LJ, are there any more strategies coming up in future videos, besides the FB and FTB? Although these 2 are enough to build a fortune imo if you approach it logically
I don't need easy. I just need possible.
  • #3,904
  • Nov 1, 2012 7:17am Nov 1, 2012 7:17am
Quoting xmzhang
Sold ozzie QM-setup, trigger was 10m-BEOB, nice CP & LQ (news spike), no FTB GbpChf trade, price went right through 15035
Fek #@!$&# stopped out
Pipcrawler
  • #3,905
  • Nov 1, 2012 8:28am Nov 1, 2012 8:28am
I'am a stupid a**hole, i had 2 QM-setups on my radar, i took the Ozzie QM and took a small hit and look what the fiber QM did .....................
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Pipcrawler
  • #3,906
  • Nov 1, 2012 9:40am Nov 1, 2012 9:40am
Quoting xmzhang
I'am a stupid a**hole, i had 2 QM-setups on my radar, i took the Ozzie QM and took a small hit and look what the fiber QM did .....................
Your QM patterns are contained inside a much more complex pattern.

This one is very rare and very much charged by sellers x buyers emotions. Not by chance or coincidence it was formed ahead of NFP.

Very, very symmetrical.
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  • #3,907
  • Nov 1, 2012 12:23pm Nov 1, 2012 12:23pm
Quoting DaGrizlyBull
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.
The FB by itself wouldn't have been a reason for me to go short it would be more a combination of factors.

1. Daily FB which also is a reaction within stacked supply zones.
2. Classic liquidity spike on H1 (which also caused a 2hr FB).
3. There is a clear supply cap at 1.2977 area - the liquidity spike on H1 above this area and the strong rejection to cause it to move back below highlights this.

This 1.2977 is where I would have concluded that price must hold if the short is going to work out - it is the cap on price so to speak.

There is also a H&S of sorts but I don't often trade patterns so this wouldn't come into my analysis.

I was eager to short this @ 1.2977 but shorted GCAD instead.
  • #3,908
  • Nov 1, 2012 12:23pm Nov 1, 2012 12:23pm
Quoting DaGrizlyBull
Just a thought

Attachment
Yes a definitive RBR formed there. I actually meant to keep 50% of my long open to target the next daily supply but my trade manager closed both positions witin couple pips of each other
  • #3,909
  • Nov 1, 2012 12:28pm Nov 1, 2012 12:28pm
Quoting kwikwis
Gbp/Jpy 4h chart with 5 min QM
Its time to drop
Attachment
I've been watching this too, but UJ has been keeping it up.

If you can anticipate a demand consumption of 13's area (5min TF) or trade a break and retest this could open up the door for a bigger drop IMO.
  • #3,910
  • Nov 1, 2012 12:31pm Nov 1, 2012 12:31pm
Quoting DaGrizlyBull
This one worked out nicely No entry though...

Attachment

LJ, are there any more strategies coming up in future videos, besides the FB and FTB? Although these 2 are enough to build a fortune imo if you approach it logically
It hasn't been hit yet, I still have that on my watchlist.

Not at the moment, there is more time in relation to FTB's and FB's and a whole new member area (the free area) is being designed to more efficiently assist people in learning, understanding and trading these strategies. This allows me to help, teach and post in a more structured manner which is impossible on here.

The PF is being kept for Q&A, webinar recordings and more advanced PA material so I can focus on teaching and trading more advanced concepts in my trading room.
  • #3,911
  • Nov 1, 2012 12:37pm Nov 1, 2012 12:37pm
Quoting jupiter_peak
Your QM patterns are contained inside a much more complex pattern.

This one is very rare and very much charged by sellers x buyers emotions. Not by chance or coincidence it was formed ahead of NFP.

Very, very symmetrical.
But what does the symmetrical pattern mean?

It's no secret I'm not a fan of patterns...people mostly trade them in the wrong way in the retail space...scanning their charts all the time for certain fixed patterns and because they don't have a clue what the pattern actually means from a price action perspective they end up using subjective analysis and formulating opinions that differ from one person to the next. Unfortunately the retail space is flooded with pattern trading nonsense.

Rant over...I'm more than happy to listen to someone who clearly is more knowledgeable than the average retail trader though...
  • #3,912
  • Nov 1, 2012 1:16pm Nov 1, 2012 1:16pm
Quoting lovejoy80
I've been watching this too, but UJ has been keeping it up.

If you can anticipate a demand consumption of 13's area (5min TF) or trade a break and retest this could open up the door for a bigger drop IMO.
Yeah I am looking to add on retest of the 13 area once the triangle cracks.
Gbp/Jpy15 min chart
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Anything can happen - You never know
  • #3,913
  • Edited 2:23pm Nov 1, 2012 2:02pm | Edited 2:23pm
Quoting lovejoy80
But what does the symmetrical pattern mean?

It's no secret I'm not a fan of patterns...people mostly trade them in the wrong way in the retail space...scanning their charts all the time for certain fixed patterns and because they don't have a clue what the pattern actually means from a price action perspective they end up using subjective analysis and formulating opinions that differ from one person to the next. Unfortunately the retail space is flooded with pattern trading nonsense.

Rant over...I'm more than happy to listen to someone who...
It's a dual diagonal diamond. There's a great trader, Igor Toshchakov (LA IGROK), who has described them in full in his own thread, although the thread is way more than just diamonds. The guy pushes mio. USD contracts in the market and I have met the guy in person once in LA.

Igrok is the author of "Beat The odds in Forex Trading". His thread: http://www.forexfactory.com/showthread.php?t=21887

He has his own unique way of drawing trend lines that is including all price action and not cutting them. Also, he emphasizes that true fomations include all price action and the sequence of moves has to sequential just as this diamond here: up-down-up-down and so forth. This is for any formation: diamonds, triangles, flags, channels... Also, a diamond is formed by a broadening triangle followed by a regular triangle. The sequence of moves inside the formation often indicates where the formation will most-likely break.

Igor also defends that true trend lines, the ones that include all price action, will break strongly at the forth approach (r1-r2-r3-r4 psychology).

There is also some other traders who are diamond enthusiasts:

Inserted Video


Watch this video from min 36:50 (give or take) and you will see Quint Tatro talking about a diamond. At minute 40:50 Quint also talks about fourth approach to trend line.

Here is the link to Quint's website: http://www.tatrocapital2.com.php5-12...etestlink.com/

I attach a few of them from my collection. There's a special one from 2006 and 2007 on GBPJPY. Another recent one from S&P e-mini and a third one from EURAUD. These last two I actually traded them and they reached their respective targets.

There's also a HUGE one ready on EURUSD monthly charts that most likely will send price below parity. Also another one geting ready on AUDUSD weekly top which will probably send the aussie down. So I expect USD strength across the board long term. ;-)

I have a vast collection of diamond patterns in my archive. Lost some when I lost my external HD on one of my trips. But still have plenty of them along with the breakouts to share with you, if you are interested. ;-)
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  • #3,914
  • Nov 1, 2012 3:47pm Nov 1, 2012 3:47pm
Jupiter, you are one step away from looking at Elephant Migration Patterns to pick your trades. Let's stick to S/D.
I don't need easy. I just need possible.
  • #3,915
  • Edited Nov 2, 2012 1:47am Nov 1, 2012 4:02pm | Edited Nov 2, 2012 1:47am
Quoting DaGrizlyBull
Jupiter, you are one step away from looking at Elephant Migration Patterns to pick your trades. Let's stick to S/D.
I am not sure what you meant, but I also post a lot on S/D. I hope your post wasn't somewhat disrespectful as it looks to be.

Not to mention that this particular formation has a lot more to do with s/r and s/d than you can possibly imagine.

Regardless, it takes a few years of experience to notice those.

I don't expect anyone here to believe or follow anything I post.

I also wouldn't expect someone like you to be able to see such a complex pattern at a glance.

Regardless of your beliefs, there's is stuff beyond your understanding.

My post was made to show a very special pattern I have come across after 9 years of trading. And since we talk about triangles, flags, wedges here, i might as well show something that most of the uneducated fail to see.

This is called knowledge sharing.

I promise it will be my last one on the subject.

For those who are interested (AND OPEN MINDED), I suggest to do some research on the subject on authors like bulkowski and others.

Thanks for your kind and brilliant post buddy.
  • #3,916
  • Nov 1, 2012 4:17pm Nov 1, 2012 4:17pm
LJ, could you go over GBP/CHF rbr (if I`m not mistaken)?
Did you take it or if not reason...?
thanks
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  • #3,917
  • Nov 1, 2012 6:55pm Nov 1, 2012 6:55pm
Quoting pex
LJ, could you go over GBP/CHF rbr (if I`m not mistaken)?
Did you take it or if not reason...?
thanks
I think there isn't enough space on the FTB (no arc like move).
I don't need easy. I just need possible.
  • #3,918
  • Nov 2, 2012 4:15am Nov 2, 2012 4:15am
Hi LJ,

I have a question. Pardon if this might be novice but then I am a novice trader.

When you talk about order flow dynamics, you talk about it being the 'appreciation for market participants at specific levels and clustered/accumulated orders'. Now I understand that order flow is dynamic, meaning it will keep on changing depending on the new information entering the market and the subsequent changes in trader sentiment.

So in a nutshell my question is this. If lets say we have identified an area which is most likely to have a cluster of previously unfilled/new orders. Why does price not immediately slip a significant amount. I understand when price does. In some cases it reaches an SD level and immediately bounces 5 or 10 pips. But my question applies to the times it does not. As an example I would like to refer you to your latest GBPCHF trade (the first one and not the reentry where you trade the FB).

So essentially you took the 1st trade based on FTB. but it took some time to reach FLR. why?

Does the answer have to do with market participants. Due to this slow momentum of price rebound can we infer that smart money is not yet in play here. If that is the case then what sort of participants are moving price up here (smart retail traders?). Furthermore, can we read this as additional confluence to PA that smart money might be located at the deeper DP?

To follow through I have one more question. If smart money knows where they want to buy and sell, how do they manage to get all their orders filled at the same price. If they are not getting filled at the same price, are they accepting slippage and is this why the price is moving in the anticipated direction?

Thanks in advance...
  • #3,919
  • Nov 2, 2012 6:30am Nov 2, 2012 6:30am
NFP or not. Strong zones always work for a bounce IMO. Snagged a quick +12 for a 1.2R. Enetred on M5.
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  • #3,920
  • Nov 2, 2012 6:49am Nov 2, 2012 6:49am
SPX500 short.
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