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  • #4,161
  • Nov 23, 2012 8:41pm Nov 23, 2012 8:41pm
Quoting lovejoy80
I have this one on my watchlist with the same rationale for entry and SL placement.
Made 1R on this one.
  • #4,162
  • Nov 26, 2012 2:45am Nov 26, 2012 2:45am
looking at three shoots for me this week on the 1HR TF, a couple of Dailies too.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 1hr.gif Size: 18 KB
Click to Enlarge Name: eurgbp h1.gif Size: 22 KB
Click to Enlarge Name: gbpchf 1hr.gif Size: 23 KB
  • #4,163
  • Nov 26, 2012 12:34pm Nov 26, 2012 12:34pm
A setup stalk:

Combination of : Daily HCR , H1 clear resistance, violent break, Wedge down into a S/R flip, etc:

Attached Image (click to enlarge)
Click to Enlarge Name: nzd.jpg Size: 153 KB


And Daily Chart as i see it, for those interested:

Attached Image (click to enlarge)
Click to Enlarge Name: nzd daily.jpg Size: 120 KB
I don't need easy. I just need possible.
  • #4,164
  • Nov 26, 2012 1:11pm Nov 26, 2012 1:11pm
Quoting DaGrizlyBull
A setup stalk:

Combination of : Daily HCR , H1 clear resistance, violent break, Wedge down into a S/R flip, etc:

Attachment

And Daily Chart as i see it, for those interested:

Attachment
An indication that bulls are still in control is , watch that it only took two candles to break the resistance and reach the supply zone on H1 and it is taking alot of candles just coming back , indicating weakness in bearish power ...
Human
  • #4,165
  • Nov 26, 2012 1:23pm Nov 26, 2012 1:23pm
Quoting Chanya
An indication that bulls are still in control is , watch that it only took two candles to break the resistance and reach the supply zone on H1 and it is taking alot of candles just coming back , indicating weakness in bearish power ...
True, but those candles going down are post Friday London Close and Monday, which suck in volume I think.
I don't need easy. I just need possible.
  • #4,166
  • Nov 26, 2012 5:58pm Nov 26, 2012 5:58pm
Not too keen on USDJPY from the charts above as not clear enough SR for me but the rest are all on my current FTB watchlist.
  • #4,167
  • Nov 27, 2012 1:55am Nov 27, 2012 1:55am
hey LJ,

I have a question if you don't mind. I was reading the first part of the thread and it seemed to me you traded FTBs on H1 and above with Fib confluence with great success. Now it seems you're trading mainly from 5/1M charts. May I ask why did you change?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #4,168
  • Nov 27, 2012 2:07am Nov 27, 2012 2:07am
Quoting soso
hey LJ,

I have a question if you don't mind. I was reading the first part of the thread and it seemed to me you traded FTBs on H1 and above with Fib confluence with great success. Now it seems you're trading mainly from 5/1M charts. May I ask why did you change?
It's all to do with volatility. Volatility has steadily decreased throughout the year so as volatility decreases the number of setups on H1 decreases - thus you have to follow the volatility by moving down TF's. A rigid mechanical trader tends to stick to one TF, a true trader trades multiple TF's and can adapt. Thus my average FTB TF is now lower than what it was at the start of the year.

I rarely trade FTB's on M5,M1 though - I use these TF's to pintpoint entries, SL's and for PA based trades (but mostly based on higher TF location).

As an example of my FTB TF split, currently I have 18 setups on my watchlist and they are split as follows:

M5 -1
M15 -5
M30 - 4
H1 - 5
H4 - 3
  • #4,169
  • Nov 27, 2012 2:30am Nov 27, 2012 2:30am
Thank you for the detailed answer LJ!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #4,170
  • Nov 27, 2012 6:21am Nov 27, 2012 6:21am
Quoting DaGrizlyBull
A setup stalk:

Combination of : Daily HCR , H1 clear resistance, violent break, Wedge down into a S/R flip...
I pulled the order since a new FTA was made just above my entry. What do you do in such cases LJ?

Attached Image (click to enlarge)
Click to Enlarge Name: ftaaaa.jpg Size: 121 KB
I don't need easy. I just need possible.
  • #4,171
  • Nov 27, 2012 6:24am Nov 27, 2012 6:24am
Quoting DaGrizlyBull
I pulled the order since a new FTA was made just above my entry. What do you do in such cases LJ?

Attachment
I'm liking this setup less now due to the support that has formed too. Was looking for compression into the area but that hasn't materialised. If there is not value in a move up to that current support then yes I'd be cancelling the order.
  • #4,172
  • Nov 27, 2012 2:12pm Nov 27, 2012 2:12pm
Quoting DaGrizlyBull
I pulled the order since a new FTA was made just above my entry. What do you do in such cases LJ?

Attachment
So far, it respected my FTA Sweet.
Can't really tell now which way it's gonna go.... Bearish flag / DBD in the making maybe?

Attached Image (click to enlarge)
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I don't need easy. I just need possible.
  • #4,173
  • Nov 27, 2012 4:33pm Nov 27, 2012 4:33pm
Quoting DaGrizlyBull
So far, it respected my FTA Sweet.
Can't really tell now which way it's gonna go.... Bearish flag / DBD in the making maybe?

Attachment
You did well to get value in this. Yes that would be my FLR and there isn't really anything PA wise to tell where price will head next.
  • #4,174
  • Nov 27, 2012 5:26pm Nov 27, 2012 5:26pm
Whilst on the subject of FTB's quite a few around at the moment.

Two of mine from my watchlist triggered today, Dax and Dow long (I only took Dax).

http://i1098.photobucket.com/albums/.../ff/Dax301.png

http://i1098.photobucket.com/albums/...ff/DowM151.png
  • #4,175
  • Nov 27, 2012 5:29pm Nov 27, 2012 5:29pm
A few I had to cancel due to lack of value - but might be off use to some to see what I was looking at.

http://i1098.photobucket.com/albums/...C/ff/NUH11.png

http://i1098.photobucket.com/albums/...ff/EAUDH11.png

http://i1098.photobucket.com/albums/...CHFJPYM151.png
  • #4,176
  • Nov 27, 2012 5:32pm Nov 27, 2012 5:32pm
A couple came close to triggering before moving away - I like the daily locations of these so have reduced my risk but not cancelling unless an obvious SR base forms.

http://i1098.photobucket.com/albums/...ff/UCHFH41.png

http://i1098.photobucket.com/albums/...PC/ff/UCHF.png

http://i1098.photobucket.com/albums/.../ff/EGM301.png

http://i1098.photobucket.com/albums/...K-PC/ff/EG.png
  • #4,177
  • Nov 27, 2012 5:33pm Nov 27, 2012 5:33pm
Lastly, next one likely to trigger is Gold - though I'm not leaving an order in place on this overnight.

http://i1098.photobucket.com/albums/...f/GoldM301.png
  • #4,178
  • Nov 28, 2012 1:24am Nov 28, 2012 1:24am
Quoting lovejoy80
Lastly, next one likely to trigger is Gold - though I'm not leaving an order in place on this overnight.

http://i1098.photobucket.com/albums/...f/GoldM301.png
LJ,

I am placing the entry at 1734.22 - it is the High of the previous candle on H1 TF. And the SL a little below 1731.50 - low on the 2nd candle on H1 TF.

Where would your entry and SL be?
Attached Image (click to enlarge)
Click to Enlarge Name: xau h1.gif Size: 17 KB
  • #4,179
  • Nov 28, 2012 2:11am Nov 28, 2012 2:11am
Quoting Price.Action
LJ,

I am placing the entry at 1734.22 - it is the High of the previous candle on H1 TF. And the SL a little below 1731.50 - low on the 2nd candle on H1 TF.

Where would your entry and SL be?
Take a look at M1 TF - my entry is higher...can you see what my entry is based on now?

My SL is again based on M1 @ 1732.30, why not below the zone low - because I don't perceive the demand at that zone low area to be strong - price left it with no material momentum and it was the M1 just above my SL where price started to move with momentum.
  • #4,180
  • Nov 28, 2012 7:22am Nov 28, 2012 7:22am
Quoting lovejoy80
Take a look at M1 TF - my entry is higher...can you see what my entry is based on now?

My SL is again based on M1 @ 1732.30, why not below the zone low - because I don't perceive the demand at that zone low area to be strong - price left it with no material momentum and it was the M1 just above my SL where price started to move with momentum.
Was there any news on XAU? Why did it it drop so abruptly?
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