LJ Forex Group | Page 228 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

JPY Group - Best Group to Trade 60 replies

Your experience with Forex.com [GAIN Capital Group, LLC] 37 replies

Forex Techniques Development Group 24 replies

FOREX, Robert Gray, FXLQ, and Nfa/ctfc... PLEASE REPOST IN EVERY GROUP 0 replies

Attachments: LJ Forex Group
Exit Attachments

LJ Forex Group

  • #4,541
  • Edited 8:38pm Mar 21, 2013 8:26pm | Edited 8:38pm
Quoting freeze
FTB on AUDJPY, missed my order by 0.5 pips after spread. It's especially frustrating since it feels like the only FTB setup this week.

If you look on the LTF, you'll notice you could easily use a 3-4 pips tighter SL than I did (98.587). Trade management was simple enough (it went straight to the marked 15min supply) , you could very realistically make 4-6R from this trade alone.
My supply/demand zones are a bit different from yours. We are all SD traders, but every trader has its own style. Take a look at my SD zones on the three different timeframes (15M/1H/4H).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AJ 15M.jpg Size: 163 KB
Click to Enlarge Name: AJ 1H.jpg Size: 126 KB
Click to Enlarge Name: AJ 4H.jpg Size: 103 KB
  • #4,542
  • Mar 21, 2013 9:22pm Mar 21, 2013 9:22pm
Quoting Balhana
My supply/demand zones are a bit different from yours. We are all SD traders, but every trader has its own style. Take a look at my SD zones on the three different timeframes (15M/1H/4H).
One more example on how to identify SD zones. Look at the NU charts (1H/5M/4H). It is just my style.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NU 1H.jpg Size: 218 KB
Click to Enlarge Name: NU 5M.jpg Size: 121 KB
Click to Enlarge Name: NU 4H.jpg Size: 133 KB
  • #4,543
  • Mar 21, 2013 10:01pm Mar 21, 2013 10:01pm
My EUR/CAD trade yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: ECAD 30M.jpg Size: 210 KB
  • #4,544
  • Mar 22, 2013 4:31am Mar 22, 2013 4:31am
Quoting lovejoy80
Of no use but it hit exactly on my feed...
I actually only use the Metatrader feed for charting, I trade live through a different platform and broker with better spreads. Had I set the entry based on the same wick in my other chart, I'd easily get in (although looking back objectively, my buffer was a bit optimistic). I'll double check from now on when placing my orders.
  • #4,545
  • Mar 22, 2013 4:32am Mar 22, 2013 4:32am
Quoting Balhana
My supply/demand zones are a bit different from yours. We are all SD traders, but every trader has its own style. Take a look at my SD zones on the three different timeframes (15M/1H/4H).
I see you place a lot of emphasis on candle closes, which is useful when determining the meat of the zone. Also, do you mark each SD zone differently on different timeframes, or are you just roughly marking them, then refining as you zoom in?

What I usually mark on my FTB charts isn't necessarily a time-proven SD zone with history, I'm just marking the immediate boundaries (and imbalances, decisions that eventually caused the breakout) of recent, untested SR/SD area. I guess that's because I take touch trades off these areas and I need to be looking at fresh zones for this.

As for the other SD zones I mark (like the FLR/FLS areas) I also tend to look at fresh zones only (starting on HTF and refining them based on LTF decisions).
You're right that every trader has his own style, but shouldn't SD trading be mostly objective?


Please let me know if I don't make sense or if there are any holes in my thinking. This weekend I'll be marking a couple (hundred) charts, going through this thread and rewatching LJ's SD videos. Oh, and nice EURCAD trade.

(EDIT: you could argue the upper zone edge in my AUDJPY chart could be objectively higher, but I did account for it with my entry, see attached chart.)
Attached Image (click to enlarge)
Click to Enlarge Name: freeze_audjpy003.png Size: 37 KB
  • #4,546
  • Mar 22, 2013 6:57am Mar 22, 2013 6:57am
Got into an SR FTB on AUDCHF, marked SD zone as well as entry are based on a 5min RBR. Aggressive SL.

I'm also watching 0.9810 area on the same pair for another possible trade (there's a nice RBR if you zoom in).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: freeze_audchf003.png Size: 47 KB
Click to Enlarge Name: freeze_audchf004.png Size: 37 KB
  • #4,547
  • Mar 22, 2013 8:05am Mar 22, 2013 8:05am
Quoting freeze
I see you place a lot of emphasis on candle closes, which is useful when determining the meat of the zone. Also, do you mark each SD zone differently on different timeframes, or are you just roughly marking them, then refining as you zoom in?
(EDIT: you could argue the upper zone edge in my AUDJPY chart could be objectively higher, but I did account for it with my entry, see attached chart.)
I draw SD zones without candle wicks, but the wicks are also important and I take them into consideration once I spot the setup. I draw each zone on different timeframes if necessary.

What I meant is that price can bounce back anywhere within the ignored supply zone (now demand zone). Not from any specific level. If your order is missed by a few pips again, just compare its price configuration with this one. Also check out post # 4,526.

These days, I'm trying to refrain from playing touches off the levels. Again, this is just my style.
Attached Image (click to enlarge)
Click to Enlarge Name: AJ15M.jpg Size: 255 KB
  • #4,548
  • Mar 22, 2013 8:21am Mar 22, 2013 8:21am
Quoting Balhana
I draw SD zones without candle wicks, but the wicks are also important and I take them into consideration once I spot the setup. I draw each zone on different timeframes if necessary.

What I meant is that price can bounce back anywhere within the ignored supply zone (now demand zone). Not from any specific level. If your order is missed by a few pips again, just compare its price configuration with this one. Also check out post # 4,526.

These days, I'm trying to refrain from playing touches off the levels. Again, this is just my style.
Ignored SD zones are very important. Look at some more charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EN001.jpg Size: 118 KB
Click to Enlarge Name: EN002.jpg Size: 209 KB
  • #4,549
  • Mar 22, 2013 9:54am Mar 22, 2013 9:54am
Quoting Balhana
What I meant is that price can bounce back anywhere within the ignored supply zone (now demand zone). Not from any specific level. If your order is missed by a few pips again, just compare its price configuration with this one. Also check out post # 4,526.

These days, I'm trying to refrain from playing touches off the levels. Again, this is just my style.
I'd argue that price doesn't just randomly turn inside an SD zone, more often than not it respects some decision area/level which can be defined on the LTF. Of course only few SD zones are tradeable as TT with tight stops, high probability etc. (aka with good expectancy). For the rest it's often better to wait for confirmatory price (re)action. I'd like to master both styles of trading.

If you see the attached EURNZD chart, you can notice a candle wick and a LTF DBD within 3 pips of the later reaction. It's easy to explain the bounce in hindsight, but I could not hope to trade this on a touch.

EDIT: closed AUDCHF for a -1R loss and canceled my buy order at 0.9810 as I didn't want to go against the strong EU move.
Attached Image (click to enlarge)
Click to Enlarge Name: freeze_eurnzd003.png Size: 26 KB
  • #4,550
  • Mar 22, 2013 9:54am Mar 22, 2013 9:54am
Quoting Balhana
I draw SD zones without candle wicks, but the wicks are also important and I take them into consideration once I spot the setup. I draw each zone on different timeframes if necessary.

What I meant is that price can bounce back anywhere within the ignored supply zone (now demand zone). Not from any specific level. If your order is missed by a few pips again, just compare its price configuration with this one. Also check out post # 4,526.

These days, I'm trying to refrain from playing touches off the levels. Again, this is just my style.
Do you really mean to call that ignored supply, because, well, it wasn't ignored at all? It's surely an SD flip zone (whereas the example in your next post was an ignored demand zone turned supply).

The key thing when trading FTB's at SD flip areas is the decision points within the most recent zone and how price left the most recent area. Hence for how I trade FTB's this would be the first area I would mark up as it's the first clear DP zone.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.lmxm15.png Size: 39 KB
  • #4,551
  • Mar 22, 2013 10:04am Mar 22, 2013 10:04am
Quoting Balhana
Ignored SD zones are very important. Look at some more charts.
Just to caveat this in that no-one should be shorting that zone on a touch for how I teach FTB's...it's not a clear zone with clear substance and DP's....all it is is a consolidation that confirms the edge of the ignored demand turned supply that Balhana has marked.
  • #4,552
  • Mar 22, 2013 11:04am Mar 22, 2013 11:04am
Quoting freeze
I'd argue that price doesn't just randomly turn inside an SD zone, more often than not it respects some decision area/level which can be defined on the LTF. Of course only few SD zones are tradeable as TT with tight stops, high probability etc. (aka with good expectancy). For the rest it's often better to wait for confirmatory price (re)action. I'd like to master both styles of trading.
You don't mean that I said "price randomly turns inside an SD zone"?

I have seen that quite a few people said "missed my limit order by X pips", which may mean they are not good at finding the decision points like me or it is actually difficult to find them. I usually wait for confirmation unless there is the decision point that I can find with ease.

Quoting lovejoy80
Do you really mean to call that ignored supply, because, well, it wasn't ignored at all? It's surely an SD flip zone (whereas the example in your next post was an ignored demand zone turned supply).
To me, "ignored" = "finally engulfed after being tested" = "engulfed without being tested". Just blame my poor English.

Quoting lovejoy80
The key thing when trading FTB's at SD flip areas is the decision points within the most recent zone and how price left the most recent area. Hence for how I trade FTB's this would be the first area I would mark up as it's the first clear DP zone.
I agree with you on FTB. Simply put, I'm too lazy to find the decision points, and to be honest I'm not so good at finding them.

Quoting lovejoy80
Just to caveat this in that no-one should be shorting that zone on a touch for how I teach FTB's...it's not a clear zone with clear substance and DP's....all it is is a consolidation that confirms the edge of the ignored demand turned supply that Balhana has marked.
I just took an example that was readily available. That's why it was not a good example. I will make a post later if/when I find a good one.
  • #4,553
  • Mar 22, 2013 12:50pm Mar 22, 2013 12:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: FB into Demand M1 EJ.jpg Size: 208 KB
I don't need easy. I just need possible.
  • #4,554
  • Mar 22, 2013 12:59pm Mar 22, 2013 12:59pm
Quoting DaGrizlyBull
Attachment
I prefer this one, but noticed it too late to trade it.
Attached Image (click to enlarge)
Click to Enlarge Name: freeze_eurjpy001.png Size: 32 KB
  • #4,555
  • Mar 25, 2013 9:38am Mar 25, 2013 9:38am
Sold fiber, very nice bulltrap, good bearish orderflow reversing price after price broke above disrespected demand
Attached Image (click to enlarge)
Click to Enlarge Name: tr2.jpg Size: 140 KB
Pipcrawler
  • #4,556
  • Mar 25, 2013 10:11am Mar 25, 2013 10:11am
Quoting xmzhang
Sold fiber, very nice bulltrap, good bearish orderflow reversing price after price broke above disrespected demand
locked in some profit and move SL to 12895, on the 2H-TF area below 887 is compressed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: tr3.jpg Size: 134 KB
Click to Enlarge Name: tr4.jpg Size: 160 KB
Pipcrawler
  • #4,557
  • Mar 25, 2013 2:37pm Mar 25, 2013 2:37pm
These 2 are among my first FB/bear trap trades. The closes back above swings weren't so strong, so I waited for some confirmation that price isn't messing around.

Half risk on both as they happened at the same time and I had to trade them as set-and-forget. ~1R Each.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fr_gbpaud001.png Size: 34 KB
Click to Enlarge Name: fr_usdcad001.png Size: 24 KB
  • #4,558
  • Edited 9:28pm Mar 25, 2013 8:26pm | Edited 9:28pm
I got some nice pips yesterday from GU short, UCHF long, and AJ short. Here are some charts on AJ short & GU short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AJ15M00.jpg Size: 169 KB
Click to Enlarge Name: AJ5M00.jpg Size: 145 KB
Click to Enlarge Name: GU5M00.jpg Size: 194 KB
Click to Enlarge Name: GU2H00.jpg Size: 172 KB
  • #4,559
  • Mar 26, 2013 6:49am Mar 26, 2013 6:49am
sold DAX on a pullback to engulfed minor demand, lets see if DAX drops through the compression zone
Attached Image (click to enlarge)
Click to Enlarge Name: dax.jpg Size: 120 KB
Pipcrawler
  • #4,560
  • Mar 26, 2013 7:04am Mar 26, 2013 7:04am
Quoting xmzhang
sold DAX on a pullback to engulfed minor demand, lets see if DAX drops through the compression zone
Whoa DAX dropped like a rock through the compression, closed all at the start of CP, also notice how price pulled back to a 1m-DP to engulf that 5m-demand, R = 2.6
Attached Image (click to enlarge)
Click to Enlarge Name: dax2.jpg Size: 135 KB
Pipcrawler
9 traders viewing now