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Potential Trade Set-Ups

  • #301
  • Mar 26, 2013 4:46am Mar 26, 2013 4:46am
Quoting fuse
EURUSD m15 chart

Looking for a few pips...

Short from 1.28754

Target 1.2859
Target hit (+16.4 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 25 KB
  • #302
  • Mar 26, 2013 4:54am Mar 26, 2013 4:54am
At the beginning of this thread it looks like you were trying to profit from "classic" types of price action setups, but I was surprised to see it quickly progress to supply and demand analysis. How are you coming along in terms of profitability? Break-even, still struggling or eking out some consistent winnings? Seems to take a while to get a feel for levels and learning to trust what you select and just going with it.
  • #303
  • Mar 26, 2013 5:14am Mar 26, 2013 5:14am
Quoting Kanzler
At the beginning of this thread it looks like you were trying to profit from "classic" types of price action setups, but I was surprised to see it quickly progress to supply and demand analysis. How are you coming along in terms of profitability? Break-even, still struggling or eking out some consistent winnings? Seems to take a while to get a feel for levels and learning to trust what you select and just going with it.
Hi Kanzler, yes you are right, my trading has evolved into just trading demand and supply zones now. I find it gives me much better results. Although I still make a mental note of candlestick patterns and try to observe as much as possible from my charts.

I have developed a set of rules which seem to help me stay away from losing trades. So I have fairly consistant wins and a number of break even trades - not too many losses (as long as I stick to my rules!)

Thanks for your interest
  • #304
  • Mar 26, 2013 5:18am Mar 26, 2013 5:18am
Quoting fuse
Hi Kanzler, yes you are right, my trading has evolved into just trading demand and supply zones now. I find it gives me much better results. Although I still make a mental note of candlestick patterns and try to observe as much as possible from my charts.

I have developed a set of rules which seem to help me stay away from losing trades. So I have fairly consistant wins and a number of break even trades - not too many losses (as long as I stick to my rules!)

Thanks for your interest
Sounds good, I might drop by once in a while as these types of journals are somewhat rarer. I'm still struggling to do this correctly and have in general break-even results, but going back over my trades there are things to be improved that would change those results, in particularly exiting when PA isn't behaving. Not a holy grail but a skill that has to be learned and refined with experience I think. Keep up the good work.
  • #305
  • Mar 27, 2013 4:51am Mar 27, 2013 4:51am
GBPUSD m30 Chart

Long from 1.51248
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 36 KB
  • #306
  • Mar 27, 2013 5:04am Mar 27, 2013 5:04am
Quoting fuse
GBPUSD m30 Chart

Long from 1.51248
Closer view...target 1.5144
Stop now at BE
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 36 KB
  • #307
  • Mar 27, 2013 5:21am Mar 27, 2013 5:21am
Quoting fuse
Closer view...target 1.5144
Stop now at BE
I'm out at BE
  • #308
  • Mar 27, 2013 5:30am Mar 27, 2013 5:30am
EURUSD H4 Chart

Long from 1.27951

I've been waiting for a while to buy EUR at this level.

If we get some bullish movement from this level I'm going to try and hold it for a while.
I don't normally hold trades for very long, but will see how this goes.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 37 KB
  • #309
  • Mar 27, 2013 5:22pm Mar 27, 2013 5:22pm
Quoting fuse
EURUSD H4 Chart

Long from 1.27951

I've been waiting for a while to buy EUR at this level.

If we get some bullish movement from this level I'm going to try and hold it for a while.
I don't normally hold trades for very long, but will see how this goes.
Ok so I am still in this trade. Price entered the 4 hour demand zone. The blue line on my chart is the top of the 30 minute demand zone within the 4 hour demand zone. This would have been an ideal place to go long, but I wanted to make sure I was in this trade, so I went long at the top of the 4 hour demand zone and set my stop below the 30 minute demand zone just in case price did decide to go down to that level (which it did). If I had been at my computer, I would have taken a long trade at that level as well.

I havn't set a target yet, I'm waiting to see what price will do from here...hopefully up, up and away!!, but we will see



EURUSD H4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 31 KB
  • #310
  • Mar 28, 2013 3:19pm Mar 28, 2013 3:19pm
Quoting fuse
Ok so I am still in this trade. Price entered the 4 hour demand zone. The blue line on my chart is the top of the 30 minute demand zone within the 4 hour demand zone. This would have been an ideal place to go long, but I wanted to make sure I was in this trade, so I went long at the top of the 4 hour demand zone and set my stop below the 30 minute demand zone just in case price did decide to go down to that level (which it did). If I had been at my computer, I would have taken a long trade at that level as well.

I havn't set a target yet, I'm...
Price has made a tentative move north. It has hit the first resistance line and retraced a bit.

At the moment, the fundamentals seem to point to the Euro weakening. Also the majority of retail traders are currently buying, which says to me I should be selling not buying. However when I look at my chart it says that this is a good area to buy so even though I am tempted to close this trade and take at least some profit, I am going to hold and see what happens.

Price has made a double bottom- interestingly right on the line I marked off as 30 minute demand and has created a new demand zone from 1.2784
If price breaches this demand zone, I will close the trade.

EURUSD H4
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 31 KB
  • #311
  • Mar 28, 2013 7:00pm Mar 28, 2013 7:00pm
USDJPY H4 Chart

Long from 94.188
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 43 KB
  • #312
  • Mar 29, 2013 2:47pm Mar 29, 2013 2:47pm
Quoting fuse
USDJPY H4 Chart

Long from 94.188
Unfortunatley my SL was hit. -25 pips (It was possibly a little too tight)

However I still think price may rise from here, but I'll wait till next week to see if I can find a good point to re-enter


USDJPY H4 Chart
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 38 KB
  • #313
  • Mar 29, 2013 2:49pm Mar 29, 2013 2:49pm
Quoting fuse
Price has made a tentative move north. It has hit the first resistance line and retraced a bit.

At the moment, the fundamentals seem to point to the Euro weakening. Also the majority of retail traders are currently buying, which says to me I should be selling not buying. However when I look at my chart it says that this is a good area to buy so even though I am tempted to close this trade and take at least some profit, I am going to hold and see what happens.

Price has made a double bottom- interestingly right on the line I marked off as 30...
I'm still in this trade and I will hold over the weekend. (hopefully we won't get some big gap down!!)


EURUSD H4
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 33 KB
  • #314
  • Mar 31, 2013 11:26pm Mar 31, 2013 11:26pm
Hi everyone, I thought I would make a video to explain the rules I follow when making a trading decision. I have developed these rules over a number of years. I find if I follow them, I am more successful in my trading. Have a look

Inserted Video
  • #315
  • Apr 1, 2013 5:02am Apr 1, 2013 5:02am
Quoting fuse
I'm still in this trade and I will hold over the weekend. (hopefully we won't get some big gap down!!) EURUSD H4 {image}
EURUSD H4 Chart

Update...I'm still holding this trade.

Price has retraced and is trying to form some kind of base to spring up from. There is alot of resistance ahead though.

Hopefully we will see some more movement north in this coming session.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 32 KB
  • #316
  • Apr 1, 2013 11:11pm Apr 1, 2013 11:11pm
AUDUSD m30 Chart

Short from 1.04628

Target 1.04330
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 34 KB
  • #317
  • Apr 1, 2013 11:17pm Apr 1, 2013 11:17pm
Quoting fuse
EURUSD H4 Chart Update...I'm still holding this trade. Price has retraced and is trying to form some kind of base to spring up from. There is alot of resistance ahead though. Hopefully we will see some more movement north in this coming session. {image}
EURUSD H4 Chart

I've decided to close this trade at 1.28652 (+70.1 pips). Price may continue higher but I'm happy to take some profit.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 31 KB
  • #318
  • Apr 2, 2013 2:03pm Apr 2, 2013 2:03pm
Quoting fuse
AUDUSD m30 Chart Short from 1.04628 Target 1.04330 {image}
AUDUSD m30 Chart

I have moved my stop to BE...still targeting 1.0433
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 36 KB
  • #319
  • Apr 2, 2013 7:43pm Apr 2, 2013 7:43pm
Quoting fuse
AUDUSD m30 Chart I have moved my stop to BE...still targeting 1.0433 {image}
I'm out at BE...will look for another setup later on today
  • #320
  • Apr 2, 2013 11:24pm Apr 2, 2013 11:24pm
Quoting fuse
I'm out at BE...will look for another setup later on today
AUDUSD H4 Chart

As soon as my trade was taken out at break even, I realised that this is still a good level to go short. So I immediately re-entered before rushing off to do something else.

So I am back in this trade...short from 1.04626

I'm targeting 1.0380 but may close it earlier depending on price action.

I have a tight stop (10 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 36 KB
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