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  • #4,901
  • May 21, 2013 12:12pm May 21, 2013 12:12pm
Trade 4: +1.79R

Anticipating a breakout above supply.

It may look like I'm going long straight into supply here but I'm not as the PA told me that the supply was likely consumed.

The 2nd chart is the key, 15sec chart - 2 DP's within the zone the edge and the source - look at the price action at them both - price tests them with small rejections which are quickly retrace - tells us all we need to know about the buying strength versus selling strength there.

I entered after the first DP PA appeared but it would have been 'safer' to wait until the 2nd one had occurred.
Attached Image(s) (click to enlarge)
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  • #4,902
  • May 21, 2013 12:25pm May 21, 2013 12:25pm
Thanks for these charts, they are extremely helpful.

I'm not yet confident to take these on live, but I did spot the following breakout setups today.
Attached Image(s) (click to enlarge)
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  • #4,903
  • May 21, 2013 12:27pm May 21, 2013 12:27pm
This is the only trade I took today – a FB on USDJPY. It was a loss, but it's the kind of setup I would take again.
Attached Image(s) (click to enlarge)
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  • #4,904
  • May 21, 2013 12:44pm May 21, 2013 12:44pm
Everything clear, thank you.
  • #4,905
  • May 22, 2013 7:06am May 22, 2013 7:06am
A little deja-vu today with pretty much the identical UJ trade I made yesterday, along with the same mistake (A fairly risky entry against demand. Weak selling after a strong move up make a weak FB setup).

I didn't take partial profits because I traded these with the smallest allowed position.

Attached Image (click to enlarge)
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An EU setup I'm quite proud of. If only all trades took less than 10 minutes…
(+2R)

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A 3-4 bar false breakout on AU. I wouldn't take it again – too small and slow against such a strong move down & unconvincing buying on m1.
(+1R, could be almost 3R with tighter SL, earlier exit)

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  • #4,906
  • May 22, 2013 10:47am May 22, 2013 10:47am
Quoting freeze
A little deja-vu today with pretty much the identical UJ trade I made yesterday, along with the same mistake (A fairly risky entry against demand. Weak selling after a strong move up make a weak FB setup). I didn't take partial profits because I traded these with the smallest allowed position. {image} An EU setup I'm quite proud of. If only all trades took less than 10 minutes… (+2R) {image} A 3-4 bar false breakout on AU. I wouldn't take it again – too small and slow against such a strong move down & unconvincing buying on m1. (+1R,...
That was nice on EU - I was just about to step out so missed it. Two other ways to trade that were the higher retrace entry and the breakout trade too.
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  • #4,907
  • May 22, 2013 10:50am May 22, 2013 10:50am
Quick summary of my day on EU:

1. Breakout.
2. Breakout - cut when it unexpectedly reversed.
3. FB + strong buying and consumption of opposing supply.
4. FTB rejection following demand consumption and CP plays out.
5. Break of supply after inability to push lower and multiple attempts of supply DP.
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  • #4,908
  • May 22, 2013 11:02am May 22, 2013 11:02am
Same for UJ:

1. Breakout.
2. Strong rejection and consumption of opposing demand.
3. Break of RBR after lower reaction (clearer on the 30sec chart than the M1) and anticipation that recent highs would be broken.
4. Breakout (this was the 1st trade but for some reason FF shows the chart last).
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  • #4,909
  • May 23, 2013 5:27am May 23, 2013 5:27am
Quoting freeze
Thanks for these charts, they are extremely helpful. I'm not yet confident to take these on live, but I did spot the following breakout setups today.
Hey freeze, nice spotting ... as usual.
  • #4,910
  • May 24, 2013 7:17am May 24, 2013 7:17am
Sold GA @ 1.5622 and closed 2/3 @ 1.5575 for +94 pips.
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  • #4,911
  • May 24, 2013 7:41am May 24, 2013 7:41am
Quoting MBatini
{quote} Hey freeze, nice spotting ... as usual.
Thanks. Spotting and trading are different things entirely, but I think I did notice most of them in real time.

Hey S., haven't seen you in a while, good to see you're still trading I was considering the same GBPAUD trade, but I wasn't at the wheel when it happened. Probably the best out of today's british pound FBs.
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  • #4,912
  • May 24, 2013 7:43am May 24, 2013 7:43am
A GU breakout trade I did take for a change, though I missclicked and bought instead (first time this happened to me ) then got a poor entry.
Still ended up +1R including cost of the missclick, but it had potential for 3R or more with partial closes / more trailing.
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  • #4,913
  • May 24, 2013 8:01am May 24, 2013 8:01am
GBBPUSD : [email protected], [email protected], [email protected]
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USDJPY : [email protected], [email protected], [email protected]
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  • #4,914
  • May 24, 2013 8:12am May 24, 2013 8:12am
Quoting freeze
{quote}Thanks. Spotting and trading are different things entirely, but I think I did notice most of them in real time. Hey S., haven't seen you in a while, good to see you're still trading I was considering the same GBPAUD trade, but I wasn't at the wheel when it happened. Probably the best out of today's british pound FBs. {image}
Hey Freeze, it was my first trade after my looong business trip.
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  • #4,915
  • May 24, 2013 8:23am May 24, 2013 8:23am
Quoting the12secret
GBBPUSD : [email protected], [email protected], [email protected]{image} USDJPY : [email protected], [email protected], [email protected]{image}
Hey 12secret, where do you live? Do I know you?
  • #4,916
  • May 24, 2013 10:14am May 24, 2013 10:14am
EU Scalping. Sold @ 1.2941 and closed 2/2 @ 1.2915 for +52 pips.
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  • #4,917
  • May 25, 2013 4:03am May 25, 2013 4:03am
Quoting Balhana
{quote} Hey 12secret, where do you live? Do I know you?
I know U, but I didn't see U face to face...
My first exposure to PA trading was from U while U are introducing it at "Real fight FX margin " cafe....and still learning.

I live in Daegu...and I asked if U visit there, contact me and have some makchang via e-mail
...
That suggestion is still in valid...
I hope to see U face to face
  • #4,918
  • May 28, 2013 2:54am May 28, 2013 2:54am
Sold GBP/NZD @ 1.8672 and closed 2/3 @ 1.8620 for + 104 pips.
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  • #4,919
  • May 28, 2013 2:56am May 28, 2013 2:56am
USD/JPY: TT sell @ 102.20
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  • #4,920
  • May 28, 2013 3:36am May 28, 2013 3:36am
Quoting Balhana
Sold GBP/NZD @ 1.8672 and closed 2/3 @ 1.8620 for + 104 pips. {image}
I can't figure out why U sold GBP/NZD @ 1.8672.
Can U explain it? Thanks!
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