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  • #4,601
  • Mar 29, 2013 7:44am Mar 29, 2013 7:44am
Quoting freeze
I have actually traded this trap short - I bet on price not sustaining the breakout above the swings near 0.9930. Not the classic way you teach FBs with fast rejection, but I was going for that style you see here posted quite often. I guess I should wait for stronger confirmation than a 5min close inside LTF demand
Yeah you shorted the lows there, what I would have done if I wanted to short there was to wait to see how price reacted to that rejection, if it had closed straight back down near the lows again on the next bar (i.e. good momentum) then that would have been a sign that the previous rejection bar was merely demand consumption.

But the overall slow momentum above that SR area would have put me off looking for a short there.
  • #4,602
  • Mar 29, 2013 7:48am Mar 29, 2013 7:48am
Quoting xmzhang
Hey Tomek, Mark how are you guys. Due to work obligations I've not been able to trade intraday with you guys as often as i would like to, its very busy at the company lots of new projects, damn I miss those intraday trading sessions. Instead I've switched my attention to trading stocks on the higher TF's (D, 2D etc...) with the same trading filosophy that Mark has teached us. I scroll through my charts once a day at the close of a trading session to look for setups, this process takes me about 1 hour. My trades are mid term and are...

Nice charts, although I can't read the descriptions I can see what you're looking at there.

Adapting trading to suit our own circumstances is very important in terms of developing a workable regular routine that we can stick too.

Me, I've actually steadily gone lower and lower with regards the TF's I trade PA on.
  • #4,603
  • Mar 29, 2013 7:54am Mar 29, 2013 7:54am
Quoting freeze
Some beautiful false breakouts on these Yen pairs. I hesitated a bit too long since the rejection didn't stand out that much compared to the move down (except on AUDJPY).

Look on your charts and you can easily see the demand they reacted at after the breakout, though.
Yes, they were nice.

My best FB setup was on EU M1 this week (just merge the bars together), though missed a beauty on AU that started the move down on Wednesday.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU M1 FB.png Size: 31 KB
Click to Enlarge Name: AU M1 FB.png Size: 28 KB
  • #4,604
  • Mar 29, 2013 7:58am Mar 29, 2013 7:58am
Quoting freeze
Did anyone notice this intraday FTB on EURUSD? Unfortunately it played out just as i was entering and closely watching today's AUDJPY trade.

On the 1min timeframe it has a similar structure to my previous AUDJPY trade. Had I not taken this zone on a touch (ie. because price came close shortly before and bounced away), I would consider shorting it when price broke below the wedge, with a stop above the marked supply. (You could also objectively trade it as a FB from supply!)

It would be very reasonable to hold it until the bottom of the compression....
I saw this one just after the event too, was a very good opportunity for some nice R there.
  • #4,605
  • Mar 29, 2013 8:06am Mar 29, 2013 8:06am
Quoting freeze
Closed 2/3, I might reenter if price breaks through and retests the marked supply. Also tightening my stop on the last 1/3.

Edit: closed the rest after price engulfed the demand south for a total of +0.8R, I could get +1R but I added a brief long while price was retesting the mentioned demand zone.
I took this too but with a smaller target and entry was based on M1 pull-back (+1.74R).
Attached Image (click to enlarge)
Click to Enlarge Name: UJ M1 FB.png Size: 33 KB
  • #4,606
  • Mar 29, 2013 8:18am Mar 29, 2013 8:18am
Quoting MBatini
Looking for comments on my view of this FTB.

Thanks
I think Freeze and Supernaut have done a good job of analysing this setup.
  • #4,607
  • Mar 29, 2013 8:21am Mar 29, 2013 8:21am
Quoting MBatini
Hi freeze,
I was uploading this asking people if my analysys does make sense
Nice analysis and I agree with Freeze's comments on SL placement.
  • #4,608
  • Mar 29, 2013 8:41am Mar 29, 2013 8:41am
Quoting lovejoy80
Nice charts, although I can't read the descriptions I can see what you're looking at there.
Lol, don't mind the descriptions that's Dutch, I posted those setups on a Dutch trading forum, explaining why I entered those trades, none of the members were familiar with supply/demand trading. Stock markets are closed during easter so no action for me until tuesday, the two trades I'am in are going all right.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bam.jpg Size: 119 KB
Click to Enlarge Name: bam1.jpg Size: 122 KB
Click to Enlarge Name: akzo.jpg Size: 128 KB
Click to Enlarge Name: akzo2.jpg Size: 133 KB
Pipcrawler
  • #4,609
  • Mar 29, 2013 8:51am Mar 29, 2013 8:51am
Some setups which I'am watch'n :

ASML: waiting for sell PA at the pullback towards the DP that broke previous support
BRNL: waiting for the supply consumption to play out
DL: would love to see a beartrap
Attached Image(s) (click to enlarge)
Click to Enlarge Name: amsl.jpg Size: 122 KB
Click to Enlarge Name: brunel.jpg Size: 140 KB
Click to Enlarge Name: loyd.jpg Size: 121 KB
Pipcrawler
  • #4,610
  • Apr 1, 2013 5:49am Apr 1, 2013 5:49am
Very low liquidity. Not a good day to trade, but sold GN @ 1.8179 and closed 2/3 for +50 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GN 15M 01.jpg Size: 334 KB
  • #4,611
  • Apr 1, 2013 12:04pm Apr 1, 2013 12:04pm
Quoting Balhana
Very low liquidity. Not a good day to trade, but sold GN @ 1.8179 and closed 2/3 for +50 pips. {image}
The remainder (1/3) of GN got stopped out for +10 pips. (+60 pips in total).

Sold GN again @ 1.8185 and closed 2/3 for +40 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GN 15M 02.jpg Size: 322 KB
  • #4,612
  • Apr 2, 2013 4:08am Apr 2, 2013 4:08am
A little FTB I had marked from last week (but did not trade). The area was hit before today's London open, which explains the slow reaction.

The zone alone may not have enough substance, but it has good SR history and defined edges.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fr004_gbpjpy h1.png Size: 28 KB
Click to Enlarge Name: fr005_gbpjpy m15.png Size: 21 KB
  • #4,613
  • Apr 2, 2013 4:52am Apr 2, 2013 4:52am
Quoting freeze
A little FTB I had marked from last week ...
Hi freeze,
looking at the same, I took the trade (while sleeping). I attach my charts for comments on SL/TP positioning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpyh1.gif Size: 33 KB
Click to Enlarge Name: gbpjpym5.gif Size: 39 KB
Click to Enlarge Name: gbpjpym1.gif Size: 27 KB
Click to Enlarge Name: gbpjpyoutcome.gif Size: 27 KB
  • #4,614
  • Apr 2, 2013 5:09am Apr 2, 2013 5:09am
I had the same setup marked up from a while ago, wasn't around to trade it but would have targeted the supply in the 70's region that price hit as a revised FLR.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY 02.04.13 1.png Size: 53 KB
  • #4,615
  • Apr 2, 2013 9:04am Apr 2, 2013 9:04am
Looks like I miss the moment too many times ...

The upper (lightblue) zone on H1 was signed last week. I signed the lower zone but was not convinced about it to set a pending order.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xauusd_missed.gif Size: 44 KB
Click to Enlarge Name: xauusd_missedm1.gif Size: 34 KB
  • #4,616
  • Apr 2, 2013 9:46am Apr 2, 2013 9:46am
On your upper zone – a very meaty zone, but the breakout out of it wasn't high momentum. If you zoom in on the 5 min for example, it's hard to pinpoint exactly where the significant imbalance occured (which is where we expact a strong reaction on a retest).
The immediate retest touching 1603.6 followed by a strong move made that easier, but it wasn't exactly immediate. I'm not sure what order flow implication that has, and if that zone was tradable thanks to that retest – hopefully Mark elaborates. I may be wrong on this one.

On your second chart, the zone has nowhere near enough substance for me to want to trade it against such an impulsive move (at least not on a touch). If you look at it, it didn't really sustain the reaction for long.

I notice you focus too much on immediate SR when determining decision points. Try to mostly consider untested points, where price decided to break out higher (when longing). See chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fr006_xauusd.png Size: 13 KB
Click to Enlarge Name: fr007_xauusd.png Size: 14 KB
Click to Enlarge Name: fr008_xauusd.png Size: 13 KB
  • #4,617
  • Apr 2, 2013 5:46pm Apr 2, 2013 5:46pm
Quoting freeze
... I notice you focus too much on immediate SR when determining decision points. Try to mostly consider untested points, where price decided to break out higher (when longing).
Hey freeze, I greatly appreciate your suggestions.
  • #4,618
  • Apr 2, 2013 11:10pm Apr 2, 2013 11:10pm
lovejoy80, do you still run your trading room?

Thanks!
  • #4,619
  • Apr 3, 2013 5:22am Apr 3, 2013 5:22am
I was happy for the outcome of this AJ FTB. Can someone explain why is my order closed with SL hit when the feed shows lower values? Is it something to submit to my broker?

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpym30.gif Size: 32 KB
Click to Enlarge Name: audjpy.gif Size: 27 KB
  • #4,620
  • Apr 3, 2013 5:33am Apr 3, 2013 5:33am
The Easter break has put me in a bit of a dry spell.
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