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Mastering the Art of Trading

  • #781
  • Sep 23, 2013 4:20am Sep 23, 2013 4:20am
Quoting aserbfx
{quote} for me the trouble area you are talking about is no more valid because price break through it lately. it would be a problem if price runs sideways at the last move up (where i draw the box). or in other words: it hasn't been a problem for the last move up. why should it now? and now price "visits" the box further left for the first time ... and reacts... how beautiful... {image}

Are you going to trade the retest of the low of the nox or what is your plan?
  • #782
  • Sep 23, 2013 4:58am Sep 23, 2013 4:58am
Quoting ghous
I am in long on USD/CAD (daily chart). Will be back with charts and stuff later (half asleep as its 240 am here). cheers g.
Ah...finally a trade from you . We could all profit from the...err...learning expericence..hehe
  • #783
  • Sep 23, 2013 5:08am Sep 23, 2013 5:08am
Quoting ghous
I am in long on USD/CAD (daily chart). Will be back with charts and stuff later (half asleep as its 240 am here). cheers g.
80% effort, 20% luck
  • #784
  • Edited 12:13pm Sep 23, 2013 11:54am | Edited 12:13pm
Quoting sfk2k
{quote} Ah...finally a trade from you . We could all profit from the...err...learning expericence..hehe
Regardless of the outcome every trade adds to the pie for me and for you all too.

Hopefully you can pick the god stuff (and learn from my mistakes) along the way

g.
I believe . . .
  • #785
  • Sep 23, 2013 12:07pm Sep 23, 2013 12:07pm
Quoting KOS-fx
{quote}
Price drops down under the 1.03 RN, the 150 EMA and the prior swing lows (i.e LLS) due to the FOMC stimulus. What does it do? It lands straight into a major support trend line which also lines up with the 1.02 RN.

How many times does it happen, that price is actually selling at an extremely strong and obvious support trend line? Do you think it gives a valid reason for the pros to consume all that liquidity?

Price hurried its way past all the potential trouble areas on the way back and closes just about at the 1.03 RN. Monday open price opens above the 1.03 RN.

This triggered the trade.

I have been out for most of the day and well, price couldn't quite use the 1.03 as support and has trickled down under it. Being held up by the LLS of the prior swing point. The daily close for today will be extremely important as it will tell us the resistance quality of the 1.03

g.
Attached Image (click to enlarge)
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I believe . . .
  • #786
  • Sep 23, 2013 2:12pm Sep 23, 2013 2:12pm
Hi ghous,
If price closes below HHR would you consider this as fake out material? There is also divergence but FTA is too close so no trade for me.
Attached Image (click to enlarge)
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  • #787
  • Sep 23, 2013 4:03pm Sep 23, 2013 4:03pm
Not much SFP today...
I added Auzzie Newzzie (AUDNZD) on my watchlist...

You know Ghous now i got a few weeks off, so i can sit here all day, and i gotta admit - 5m, 1m are like vomit... I have no idea where people get the idea, that if they trade on 1m or 5m they will be able to make more "quality" trades...
The amount of time spent in front of the comp devided by the number of trades you take are the same as on daily / weekly if you are picky.. (and yeah if you are not a scalper )
But what doesn't kill you makes you stronger lol

Stephen
It's all psychology...
  • #788
  • Sep 23, 2013 4:21pm Sep 23, 2013 4:21pm
Quoting lenrod
Hi ghous, If price closes below HHR would you consider this as fake out material? There is also divergence but FTA is too close so no trade for me. {image}
Yes,

but notice all the trouble you're trading straight into.

Attached Image (click to enlarge)
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g.
I believe . . .
  • #789
  • Sep 23, 2013 4:32pm Sep 23, 2013 4:32pm
Quoting LamerTrader
Not much SFP today... I added Auzzie Newzzie (AUDNZD) on my watchlist... You know Ghous now i got a few weeks off, so i can sit here all day, and i gotta admit - 5m, 1m are like vomit... I have no idea where people get the idea, that if they trade on 1m or 5m they will be able to make more "quality" trades... The amount of time spent in front of the comp devided by the number of trades you take are the same as on daily / weekly if you are picky.. (and yeah if you are not a scalper ) But what doesn't kill you makes you stronger lol Stephen...
This one is worth a good hard looooong look!

I find it pretty solid actually. No single bar fake out, but really good fake out scenario with price clearly dying out as it dropped under that major swing low.

Would have loved to take this, but that would over expose me as the other trades are still in the red zone.

Attached Image (click to enlarge)
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EDIT: Pending order in at 0.638 with a small position.

g.
I believe . . .
  • #790
  • Sep 23, 2013 5:10pm Sep 23, 2013 5:10pm
Quoting ghous
{quote} This one is worth a good hard looooong look! I find it pretty solid actually. No single bar fake out, but really good fake out scenario with price clearly dying out as it dropped under that major swing low. Would have loved to take this, but that would over expose me as the other trades are still in the red zone. {image} EDIT: Pending order in at 0.638 with a small position. g.

I tried to get you to take that trade earlier..about 500 pips earlier
  • #791
  • Sep 23, 2013 5:33pm Sep 23, 2013 5:33pm
Quoting cemfx
{quote} I tried to get you to take that trade earlier..about 500 pips earlier
I wanted it to push past that major swing point to prove its worth

g.
I believe . . .
  • #792
  • Sep 23, 2013 6:03pm Sep 23, 2013 6:03pm
Hey guys,

EURCAD

Fakeout with confluence

Neytiri
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  • #793
  • Sep 24, 2013 12:35am Sep 24, 2013 12:35am
Quoting ghous
This is one I am lining up for a trade next week if we can get a daily close underneath the HHR. (this one I also talked about in the video) {image} g.

What was your plan to trade this setup?

Did you take it allready??
  • #794
  • Sep 24, 2013 2:40am Sep 24, 2013 2:40am
Quoting Neytiri
Hey guys, EURCAD Fakeout with confluence Neytiri {image}
Hey Neytri,

What swing point your looking in regards to fake out......
80% effort, 20% luck
  • #795
  • Sep 24, 2013 3:27am Sep 24, 2013 3:27am
Quoting Neytiri
Hey guys, EURCAD Fakeout with confluence Neytiri {image}
There is no swing point there and it would make sense for a fake out to violate the 1.4000 BRN
  • #796
  • Sep 24, 2013 3:35am Sep 24, 2013 3:35am
Quoting Neytiri
Hey guys, EURCAD Fakeout with confluence Neytiri {image}
There is no swing point there, that already broken TL is not worth relying on and, it would make sense for a fake out to violate the 1.4000 BRN.
Also we have a flag and pole breakout in progress with a 510 pip projection point.
Attached Image (click to enlarge)
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  • #797
  • Sep 24, 2013 3:56am Sep 24, 2013 3:56am
Quoting Oakwoodinc
{quote} What was your plan to trade this setup? Did you take it allready??
Yes, my entry was on the pull back to Friday's bar close and stop above Friday bar's high.

Attached Image (click to enlarge)
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g.
I believe . . .
  • #798
  • Sep 24, 2013 4:26am Sep 24, 2013 4:26am
Quoting Neytiri
Hey guys, EURCAD Fakeout with confluence Neytiri {image}
Hey Neytiri, As Steve pointed out there really isn't an HHR/LLS at that point to be looking out for a fake out.

You gotta look for highest and lowest price levels that price has tested during a swing high/low formation to mark out your HHR/LLS areas to look for trades at.



g.
I believe . . .
  • #799
  • Sep 24, 2013 4:31am Sep 24, 2013 4:31am
Quoting ghous
{quote} Yes, my entry was on the pull back to Friday's bar close and stop above Friday bar's high. {image} g.
ghous,

I have a question on usage of 150 EMA.....

Will you use 150 EMA in 4H time frame as same as the daily... Because when I see this AUD/CHF pair in 4H, 150 EMA very close and seems to be acting as a barrier....

KOS
80% effort, 20% luck
  • #800
  • Sep 24, 2013 7:22am Sep 24, 2013 7:22am
Quoting KOS-fx
{quote} ghous, I have a question on usage of 150 EMA..... Will you use 150 EMA in 4H time frame as same as the daily... Because when I see this AUD/CHF pair in 4H, 150 EMA very close and seems to be acting as a barrier.... KOS
Hey Kos,

I like to keep my time frames separate.

This means that if I am looking at a setup on the 4H I am really only interested in knowing where the 4H EMA is. Not that watching across time frames is erroneous but it just helps me to keep things nice and simple in treating time frames independently.

I will some times drop down to a lower time frame to manage tricky trades that may have been executed on the daily time frame but then again, I am never exclusively on the lookout for EMA positions on different time frames all the time.

g.
I believe . . .
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