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  • #4,141
  • Nov 22, 2012 1:35pm Nov 22, 2012 1:35pm
Quoting lovejoy80
I agree that a more 'obvious' FB would have been preferable, plus price had to consume demand just below - hence why it paused for a number of hours first. The good FB's generally tend to just 'go' as the order-flow behind an FB generates good momentum.
Hey LJ. I don't really understand what demand you see there just below the FB. I only see one at 9435 ish.
I don't need easy. I just need possible.
  • #4,142
  • Nov 22, 2012 1:52pm Nov 22, 2012 1:52pm
Quoting DaGrizlyBull
Hey LJ. I don't really understand what demand you see there just below the FB. I only see one at 9435 ish.
I don't have a chart to hand now but if you zoom in a bit you'll see multiple peaks to the left - former stacked supply which then acted as demand - hence why price consolidated like it did before it moved lower - it had to consume that demand first.
  • #4,143
  • Nov 22, 2012 2:41pm Nov 22, 2012 2:41pm
LJ , is it a nice FB in your point of view ? And when you are free, please tell me how you would take it and manage it if you would ...
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Human
  • #4,144
  • Nov 22, 2012 3:51pm Nov 22, 2012 3:51pm
are these areas where we should look for entry?
thanks
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  • #4,145
  • Edited 5:02pm Nov 22, 2012 4:14pm | Edited 5:02pm
Quoting pex
are these areas where we should look for entry?
thanks
Looks good to me Pex. 1.2884 appears to be a good SR level to watch.
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  • #4,146
  • Nov 22, 2012 4:34pm Nov 22, 2012 4:34pm
Quoting pex
are these areas where we should look for entry?
thanks
Hi pex,

I see 1.2900 Area is the good area ........ here the chart D1, M5 and M1

cheers
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  • #4,147
  • Edited 1:57am Nov 23, 2012 1:23am | Edited 1:57am
"3 Drives Up/Down" is one of powerful patterns, but it is not an easy pattern because trendlines are subjective and no two people will draw them the same. Take a look at the EUR/CAD chart. The trendline in this example is also subjective due to the protruding wick. Therefore, you should be very careful about this pattern. Never pull the trigger simply based on trendline. You should have some confluence at Drive 3 like strong SD and QM.
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  • #4,148
  • Nov 23, 2012 2:19am Nov 23, 2012 2:19am
Something to watch perhaps.
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  • #4,149
  • Nov 23, 2012 3:04am Nov 23, 2012 3:04am
Quoting Chanya
LJ , is it a nice FB in your point of view ? And when you are free, please tell me how you would take it and manage it if you would ...
Yes it is an FB - if trading it on the daily TF, SL would go above the shaded zone, entry on the bar close and tentative FLS has just been hit.
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  • #4,150
  • Nov 23, 2012 3:44am Nov 23, 2012 3:44am
Quoting pex
are these areas where we should look for entry?
thanks
The lower one is a planned setup for me, H4 DBD and H1 SR combination.

It has formed a base not far below though so you'd have to look at the potential value in the setup now.
  • #4,151
  • Nov 23, 2012 3:57am Nov 23, 2012 3:57am
Quoting lovejoy80
The lower one is a planned setup for me, H4 DBD and H1 SR combination.

It has formed a base not far below though so you'd have to look at the potential value in the setup now.
thank you 5.25 and mrhb30jr for comments
LJ fls now would be at 1.2865?
  • #4,152
  • Nov 23, 2012 5:53am Nov 23, 2012 5:53am
Quoting pex
thank you 5.25 and mrhb30jr for comments
LJ fls now would be at 1.2865?
Yes, it would be for me.
  • #4,153
  • Nov 23, 2012 8:24am Nov 23, 2012 8:24am
Quoting pex
thank you 5.25 and mrhb30jr for comments
LJ fls now would be at 1.2865?
Hi pex,

here the updated ..... eurocad D1 and M5

Cheers
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  • #4,154
  • Nov 23, 2012 8:53am Nov 23, 2012 8:53am
Quoting mrhb30jr
Hi pex,

here the updated ..... eurocad D1 and M5

Cheers
daily line chart.
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  • #4,155
  • Nov 23, 2012 9:14am Nov 23, 2012 9:14am
Quoting entheos
daily line chart.
Hi enthenos,

I am watching from M1 and M5 to see the false break out of the D1 candle,...

cheers
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  • #4,156
  • Nov 23, 2012 3:09pm Nov 23, 2012 3:09pm
Quoting lovejoy80
Yes, it would be for me.
Price did as expected, but as mentioned previously it was hard to extract any value out of the setup as you couldn't ignore the resistance that had formed just below (ECAD H1).
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  • #4,157
  • Nov 23, 2012 3:21pm Nov 23, 2012 3:21pm
Took a GJ short today - didn't work out exactly as planned and only managed to get 0.67R out of it. Compression wedge into M15 supply - took the 'safe' entry when the nearby supply turned demand had been consumed targeting a move to the area marked with my TP on the chart below.

We had some news out of the Eurogroup meetings cross the wires and price started to reverse hard - took partial profit when bullish PA presented itself and SL hit on the rest - a reminder that a) supply/demand is dynamic and not static and b) news matters!
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  • #4,158
  • Nov 23, 2012 3:29pm Nov 23, 2012 3:29pm
Quoting lovejoy80
Price did as expected, but as mentioned previously it was hard to extract any value out of the setup as you couldn't ignore the resistance that had formed just below (ECAD H1).
I was watching what price will do...good for learning
thanks
  • #4,159
  • Nov 23, 2012 3:36pm Nov 23, 2012 3:36pm
A video walk-through of a PA based trade I took earlier today on GBPAUD (based on M5 PA within H1 demand).

Return on this trade was +1.70R

Inserted Video
  • #4,160
  • Nov 23, 2012 4:36pm Nov 23, 2012 4:36pm
Quoting lovejoy80
A video walk-through of a PA based trade I took earlier today on GBPAUD (based on M5 PA within H1 demand).

Return on this trade was +1.70R

http://www.youtube.com/watch?v=kRKhnvRfEFU
Great video as always. Thanks again !
I don't need easy. I just need possible.
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