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  • #3,981
  • Nov 9, 2012 5:43am Nov 9, 2012 5:43am
3 trades closed today.

1. UCHF - FTB of an M5 DBD - 1R
2. FB of an 5min EU support - the 5min close wasn't a good close for an FB so looked at the M1 chart for a move above and successful retest of the support +1.40R
3. H1 FTB on AJ from last night and closed the D2 FB as per previous post - ideally would have liked to hold longer but am not around this afternoon and I don't hold trades open over the weekend. +3.45R combined.
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  • #3,982
  • Nov 9, 2012 7:42am Nov 9, 2012 7:42am
bougth EJ, FTB to HTF demand, entry via 1st 10m-PB / FB, price came with 2 pips of my SL just below the low of that 1st 10m-PB
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Pipcrawler
  • #3,983
  • Nov 9, 2012 8:07am Nov 9, 2012 8:07am
Beautifull Ozzie QM setups, pity I couldn't trade QM1 & QM2 cose they triggered during the Asian session
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Pipcrawler
  • #3,984
  • Nov 9, 2012 8:37am Nov 9, 2012 8:37am
Quoting xmzhang
bougth EJ, FTB to HTF demand, entry via 1st 10m-PB / FB, price came with 2 pips of my SL just below the low of that 1st 10m-PB
EJ trade update, banked some nice pips and moved SL to BE+2, I wanted to add another position but price didn't pull back enough to complete a 5m-QM (green arrow)
Attached Image (click to enlarge)
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Pipcrawler
  • #3,985
  • Nov 9, 2012 9:12am Nov 9, 2012 9:12am
Quoting xmzhang
EJ trade update, banked some nice pips and moved SL to BE+2, I wanted to add another position but price didn't pull back enough to complete a 5m-QM (green arrow)
final update EJ FTB-trade, closed all for a very nice profit, price has hit 1H-supply and WILL react @ this supply
Attached Image(s) (click to enlarge)
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Pipcrawler
  • #3,986
  • Nov 10, 2012 1:35am Nov 10, 2012 1:35am
Quoting xmzhang
final update EJ FTB-trade, closed all for a very nice profit, price has hit 1H-supply and WILL react @ this supply
do you know why it didn`t react?
thanks
  • #3,987
  • Nov 11, 2012 8:30pm Nov 11, 2012 8:30pm
Screen 1:

Attached Image (click to enlarge)
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Screen 2:

Attached Image (click to enlarge)
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Hey guys . I have a couple of question based on these 2 screenshots. I am new to this, so bear with me if you want (or ignore if you don't )

1) That looks like a fresh Demand zone to me (not the result of a FTB of another Demand Zone). Is this correct?
2) In your experience, does it matter after how much time price revisits this level? ( I guess not since demand is not being consumed till it revisits)
3) In the second screen, the 2nd time back should offer lower odds of success, since some demand was absorbed at the FTB ( we can see the price going deeper into the demand zone ? ) and thus this would not have been a good trade (unless some PA bars or FB pattern formed there to give us clues) ?

Thank you!
I don't need easy. I just need possible.
  • #3,988
  • Nov 11, 2012 11:16pm Nov 11, 2012 11:16pm
Quoting xmzhang
EJ trade update, banked some nice pips and moved SL to BE+2, I wanted to add another position but price didn't pull back enough to complete a 5m-QM (green arrow)
What trading platform are you using Xmzhang ? Why not MT4 ? Is what u are using as editable as MT4 ? Just curious
Human
  • #3,989
  • Nov 12, 2012 3:23pm Nov 12, 2012 3:23pm
One trade today at 2R, market was super slow otherwise.

Entry at ignored D preempting a FB after that converging wedge. Was 1 to 0.5 pips away from stopping out.
Attached Image (click to enlarge)
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  • #3,990
  • Nov 12, 2012 3:44pm Nov 12, 2012 3:44pm
Hey LJ.

I just watched all your videos again, but i have a question: Are you related to this guy? (Just joking, thanks 4 the vids )

http://assets.diylol.com/hfs/67f/e17...1332795788.jpg
I don't need easy. I just need possible.
  • #3,991
  • Nov 12, 2012 5:02pm Nov 12, 2012 5:02pm
Quoting DaGrizlyBull
Screen 1:

Attachment

Screen 2:

Attachment

Hey guys . I have a couple of question based on these 2 screenshots. I am new to this, so bear with me if you want (or ignore if you don't )

1) That looks like a fresh Demand zone to me (not the result of a FTB of another Demand Zone). Is this correct?
2) In your experience, does it matter after how much time price revisits this level? ( I guess not since demand is not being consumed till it revisits)
3) In the second screen, the 2nd time back should offer...

1. Yes this is a fresh demand and thus a valid FTB trade.
2. I personally prefer it when zones and levels are tested fairly soon after e.g. I don't like a H1 based area being tested a 4-5 months in the future - but that's just me as I know others who don't consider this a bad thing.
3. Yes, 2nd time back is generally a lower probability setup (unless you can find good confluence to take a TT) so for me it's normally an area I'm looking for PA.
  • #3,992
  • Nov 12, 2012 5:03pm Nov 12, 2012 5:03pm
Quoting Chanya
What trading platform are you using Xmzhang ? Why not MT4 ? Is what u are using as editable as MT4 ? Just curious
I think it's IG Index which is a spreadbetting firm in the UK
  • #3,993
  • Nov 12, 2012 5:05pm Nov 12, 2012 5:05pm
Simple SD zone FTB today on Silver, 1R
Attached Image(s) (click to enlarge)
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  • #3,994
  • Nov 12, 2012 5:36pm Nov 12, 2012 5:36pm
LJ, regarding Silver, i had a demand zone on the Daily in mind, but i forgot about it and only noticed it on Friday. Did you take this?

Edit: Is there a list of inter-market correlations posted somewhere for newbies like me?

Attached Image (click to enlarge)
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I don't need easy. I just need possible.
  • #3,995
  • Nov 13, 2012 12:36am Nov 13, 2012 12:36am
Quoting DaGrizlyBull
LJ, regarding Silver, i had a demand zone on the Daily in mind, but i forgot about it and only noticed it on Friday. Did you take this?

Edit: Is there a list of inter-market correlations posted somewhere for newbies like me?

Attachment
No I didn't, I don't tend to take daily TF setups, but it was a nice one with a very clear DP as can be seen on H4.

No there isn't, a Google search will find some decent basic information regarding inter-market correlations. I might post some of my material from the private forum on this subject at some point in the near future.
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  • #3,996
  • Nov 13, 2012 2:43am Nov 13, 2012 2:43am
Quoting DaGrizlyBull
LJ, regarding Silver, i had a demand zone on the Daily in mind, but i forgot about it and only noticed it on Friday. Did you take this?

Edit: Is there a list of inter-market correlations posted somewhere for newbies like me?

Attachment
Im not sure if this is exactly what you're looking for but you may still find it useful.

http://www.forexticket.co.uk/en/tools/01-01-correlation
No more DOH! trades
  • #3,997
  • Nov 13, 2012 5:15am Nov 13, 2012 5:15am
had this line marked up

was trying to buy a little lower (at a discount ) but i missed it ^^ ..well that happens alot

Moving on
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  • #3,998
  • Nov 13, 2012 11:06am Nov 13, 2012 11:06am
Quoting nonethewisa
Im not sure if this is exactly what you're looking for but you may still find it useful.

http://www.forexticket.co.uk/en/tools/01-01-correlation
Hey. That link is useful, but is not what i really meant.

I meant something like: "What does Bullish/Bearish Metals/Commodities/Stock Indices/Interest Rates mean for USD " , to be able to find more clues regarding bias for Forex when there is none present there. Would come in very handy i think.

Edit: To be honest, i started reading the book on this subject by J. Murphy, but i found it really boring and repetitive and way too much for what i need. Do any of you recommend it ?

GL
I don't need easy. I just need possible.
  • #3,999
  • Nov 13, 2012 1:59pm Nov 13, 2012 1:59pm
Trades for the day. Each just over 1R each if you factor in those lower time frame spreads.
Attached Image(s) (click to enlarge)
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  • #4,000
  • Nov 13, 2012 2:47pm Nov 13, 2012 2:47pm
Quoting ezz
had this line marked up

was trying to buy a little lower (at a discount ) but i missed it ^^ ..well that happens alot

Moving on
This was actually an FB that occurred there.

I too was looking to buy lower with a riskier FTB trade (riskier due to the lack of obvious value) but we didn't get the quick rejection from the daily area I was looking for so bailed out for 0.49R loss.
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