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  • #4,721
  • Apr 14, 2013 3:42pm Apr 14, 2013 3:42pm
Quoting lovejoy80
People will have different styles in this regard, for me the most important aspects are: 1. Looking for zones / DP's where price left with good momentum last time out - this of course gives us information about the SD imbalance etc. 2. DP's and DP zones that were created last time out - I'm not that fussed about what that zone was a reaction to before then it's mostly about the last time price left that area and how it left that area - as supply and demand is dynamic and not static so a reaction to a previous zone can in itself create a new stronger...
thanks for explanation...missed my order for 1 pip,then I canceled it....
  • #4,722
  • Apr 15, 2013 6:32am Apr 15, 2013 6:32am
USDJPY LTF Scenario I was preparing for,
I wanted to see momentum, consumption of the 2 demand zones in the way and I wanted to enter on the retest.

Attached Image (click to enlarge)
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Entry after bearish PA on retest. Price missed my TP by a few pips, in retrospect I should have closed it soon after that reaction.

I like the idea of only riding the fast sure moves and not waiting and praying through a drawdown.

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  • #4,723
  • Apr 15, 2013 7:40am Apr 15, 2013 7:40am
A FTB setup I noticed just now, I didn't set an alert for it
Attached Image (click to enlarge)
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  • #4,724
  • Apr 15, 2013 8:00am Apr 15, 2013 8:00am
Quoting freeze
A FTB setup I noticed just now, I didn't set an alert for it {image}
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  • #4,725
  • Apr 15, 2013 8:33am Apr 15, 2013 8:33am
Quoting freeze
A FTB setup I noticed just now, I didn't set an alert for it
Hi freeze,
I saw this two DP in this setup. It seems to me that those 2 are the places where a quick confirmation of S/D turning is visible.

Thanks for comment
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  • #4,726
  • Apr 15, 2013 8:51am Apr 15, 2013 8:51am
Hey, you're getting better and better at this. This is my take, hope it helps.

Edit: the upper DP you marked is correct, it is a point of significance, I don't mark it because I don't need it – my SL is based on a lower DP.
Also your lower edge of the zone is correct, it doesn't matter if you draw the edge at the immediate retest or a nearby price flip, as long as it doesn't affect your entry.
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  • #4,727
  • Apr 15, 2013 9:10am Apr 15, 2013 9:10am
Quoting freeze
Hey, ...
Ahhh, very helpful freeze.

I saw (2) for the history. Missed on (3) the evaluation of the biggest move. Missed minor DP that lead to retest.

I think I am in the stage where I 'look' at elements in a setup but I do not 'see' them all.
  • #4,728
  • Apr 15, 2013 9:14am Apr 15, 2013 9:14am
Quoting lovejoy80
People will have different styles in this regard, for me the most important aspects are: 1. Looking for zones / DP's where price left with good momentum last time out - this of course gives us information about the SD imbalance etc. 2. DP's and DP zones that were created last time out - I'm not that fussed about what that zone was a reaction to before then it's mostly about the last time price left that area and how it left that area - as supply and demand is dynamic and not static so a reaction to a previous zone can in itself create a new stronger...
Will upload to Youtube when get more time, but in the meantime the video can be seen in my screencast folder:

http://www.screencast.com/t/y0O43YIK0N
  • #4,729
  • Apr 15, 2013 9:19am Apr 15, 2013 9:19am
Quoting MBatini
Ahhh, very helpful freeze. I saw (2) for the history. Missed on (3) the evaluation of the biggest move. Missed minor DP that lead to retest. I think I am in the stage where I 'look' at elements in a setup but I do not 'see' them all.
Good analysis guys - my SL was based on the 51's DP - I'm a bit more cautious with pairs like this that don't produce setups very often.

FLS of course would have been the opposing M30 demand and M1 to spot the actual DP you would target.
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  • #4,730
  • Apr 15, 2013 9:24am Apr 15, 2013 9:24am
Quoting MBatini
Ahhh, very helpful freeze. I saw (2) for the history. Missed on (3) the evaluation of the biggest move. Missed minor DP that lead to retest. I think I am in the stage where I 'look' at elements in a setup but I do not 'see' them all.
Keep backtesting and forward testing a couple setups every day, and you'll be up to speed by May. I think I tested (and saved) between 100-200 setups and read through countless more posted by Mark.

Entries/Stops are just one piece of the puzzle, you also need to get a feel for how they behave and what can you expect from them.
  • #4,731
  • Apr 15, 2013 1:10pm Apr 15, 2013 1:10pm
Has anyone taken this one? I was waiting for a deeper pullback.
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  • #4,732
  • Apr 15, 2013 3:15pm Apr 15, 2013 3:15pm
Quoting freeze
Has anyone taken this one? I was waiting for a deeper pullback. {image}
I didn't catch this, though think the M1 gave some opportunities to get involved.

I took a CP setup earlier though for +1.25R
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  • #4,733
  • Apr 15, 2013 4:17pm Apr 15, 2013 4:17pm
Quoting lovejoy80
I didn't catch this, though think the M1 gave some opportunities to get involved. I took a CP setup earlier though for +1.25R {image} {image}
"No room for hope and hold"!? Damn, I think I'm in the wrong thread

EU short is all I have to show for the day. Lack of immediate momentum made me cut this one out early. That and large account syndrome.
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  • #4,734
  • Apr 15, 2013 4:43pm Apr 15, 2013 4:43pm
Quoting lovejoy80
FLS of course would have been the opposing M30 demand and M1 to spot the actual DP you would target.
Mark, a question about price approaching the zone; the boxed zone I marked is not to take into account?

Tx
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  • #4,735
  • Apr 15, 2013 8:36pm Apr 15, 2013 8:36pm
Quoting lovejoy80
I didn't catch this, though think the M1 gave some opportunities to get involved. I took a CP setup earlier though for +1.25R {image} {image}
Hello Lovejoy:

Can you tell me what cp means and how to recognize it ?

Thanks

Borg
May the Forex be with you.
  • #4,736
  • Apr 16, 2013 6:51am Apr 16, 2013 6:51am
Quoting lovejoy80
Will upload to Youtube when get more time, but in the meantime the video can be seen in my screencast folder: http://www.screencast.com/t/y0O43YIK0N
What a thorough video!! Thanks for taking the time to put this together. It helps me tremendously.
  • #4,737
  • Apr 16, 2013 10:26am Apr 16, 2013 10:26am
Lovejoy, I take it from this screenshot you're using LMAX.

What charting software are you using out of interest? I fancy LMAX but their web charts offering is not up to scratch for me.

Quoting lovejoy80
I didn't catch this, though think the M1 gave some opportunities to get involved. I took a CP setup earlier though for +1.25R {image} {image}
  • #4,738
  • Apr 16, 2013 3:35pm Apr 16, 2013 3:35pm
Quoting Borg
Hello Lovejoy: Can you tell me what cp means and how to recognize it ? Thanks Borg
Compression is the squeezing of price (often in a converging wedge like pattern) into supply or demand and is a reversal sign. The most important aspect of compression is that there should be no untested supply (for a long setup and vice versa for a short setup) left within the wedge - paving the way for a quick momentum move through the compression.

Some posts that might help:

http://www.forexfactory.com/showthre...on#post6205992
http://www.forexfactory.com/showthre...on#post6205023
http://www.forexfactory.com/showthre...on#post5932893
http://www.forexfactory.com/showthre...on#post6063111
http://www.forexfactory.com/showthre...on#post5968396
http://www.forexfactory.com/showthre...on#post5732302
http://www.forexfactory.com/showthre...on#post5653253
  • #4,739
  • Apr 16, 2013 3:36pm Apr 16, 2013 3:36pm
Quoting TranceTrader
Lovejoy, I take it from this screenshot you're using LMAX. What charting software are you using out of interest? I fancy LMAX but their web charts offering is not up to scratch for me.
Yes I do use LMAX. I'm currently using MT4 though might be switching to MultiCharts for my scalping only soon and MT4 for other higher TF trades.
  • #4,740
  • Apr 16, 2013 3:40pm Apr 16, 2013 3:40pm
Quoting MBatini
Mark, a question about price approaching the zone; the boxed zone I marked is not to take into account? Tx {image}
It's far enough away to not be a concern for me as the breakout rush will just lead into our area.

Basing when there is an obvious sustained build up close to our FTB area is what I avoid as a) this likely means no clear space / value for the FTB trade and b) that price is hitting our FTB area with more 'strength' than it would otherwise have.

But breakout 'rush' momentum tends to be short lived order-flow based momentum therefore you have to judge on a case by case basis whether a base is too close relative to the strength and substance of the FTB zone.
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