My thoughts on USD/SGD
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Disliked{quote} How can you say you agree with the babypips article being biased and a hack piece of writing yet, at the same time write this in the basic guide? Sounds very similar to the article to me. Introduction to the fake out We know there are two types of traders participating in these markets. The novice trader that is under capitalized and is pretty naive when it comes to trading knowledge. And then there are the real big pros, the hedge funds, the banks and other institutions who know their stuff and have really big accounts. These 'cool'...Ignored
Disliked{quote} This setup could pan out as well if price can break above the LLS but as far as textbook example that I liked was the USD/SEK that you mentioned earlier...price broke through the level and next candle came right back through it and next candle retested the LLS to confirm the bull signal....that fake out gave 100 pips so far..let's see how far it can go Did you enter that trade ghous?Ignored
DislikedHi All... Pls check EUR/JPY with daily TF... price have not been to that HHR since Jan. 2010 till yesterday bar.... could that be a kind of fake out bar we are lookin for...? Thanks for your reply... Stay Blessed. {image}Ignored
DislikedWatching to see if price can pop up above the LLS. But this is beautiful fake out material! {image} g.Ignored
Disliked@ GHOUS: Can you please upload a A+ Setup that you took because i only read your comments on Setups from other people that are not good but i can rarely find a setup that you commented on that is valid in your eyes??? ThanksIgnored
Disliked{quote} yeah well, the great setups have been scarce so naturally I haven't been trading much at all and trying to pass on the precautionary word to the rest who were questioning about the average setups. That is going to have to be the theme for the most part anyways. I am not a high frequency trader and emphasize a lot on high quality trades. You can imagine the theme of regular discussions then. And I will be recording the next trade I take. g.Ignored
Disliked{quote} Hey Steve, I don't think it was a hack piece of writing but I do believe the tone was pretty much in line with sounding like fake out trading is way superior to breakout trading. Pro traders can very well be break out traders just as well as they can be fake out traders. Its important to understand that the breakout traders as a whole aren't grouping up against the fake out traders in a battle where one group will lose. In the real world, both, break out traders as well as fake out traders co-exist and will both be making their fair share...Ignored
Disliked{quote} BOOM! I got access to my charts just 6 minutes into the new 4H bar and I had already missed this. Great example of how fundamentals can create biased order flow that the pros will then target. This time it was the FOMC that did the trick. {image} g.Ignored
Disliked{quote} Hey Ghous, What would have been your entry strategy on the 4 hour chart of USDNOK? I only focused on the daily chart. However, I did not enter at the break of the high of the pinbar. The main reason being that I felt I will be trading right into a ppz. Was I right with respect to my thought process? I thought a better approach would be to wait for the price to close above the lcs and then wait for a retest of the lcs. By doing this I can narrow down the stop loss by placing it below the low of PB&CA bar. BTW, what is FOMC? gigglesIgnored
DislikedGhous, Is this a valid fakeout? Price closes below the LLS and the very next bar closes back above the support. A flag formation is seen on the 4 hour chart. I am waiting for price to retest the brn 9.7. Neytiri {image} {image}Ignored
Disliked{quote} The AUDCHF does look interesting but isn't there a nearby trouble area? {image}Ignored