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  • #5,601
  • Oct 29, 2013 10:47pm Oct 29, 2013 10:47pm
EURNZD PA trade for +1.9R
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  • #5,602
  • Oct 29, 2013 10:50pm Oct 29, 2013 10:50pm
GBPJPY FTB trade for +1.35R
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  • #5,603
  • Nov 16, 2013 9:58am Nov 16, 2013 9:58am
Last week trades.
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Price Is The Best Indicator Itself.
  • #5,604
  • Nov 18, 2013 8:40am Nov 18, 2013 8:40am
USDJPY PA trade:
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  • #5,605
  • Nov 19, 2013 5:00am Nov 19, 2013 5:00am
3 PA trades today, 2 on my specialist pair USDJPY.

Trade 1 - USDJPY +2.12R

M15, M5, M1 charts below
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  • #5,606
  • Nov 19, 2013 5:04am Nov 19, 2013 5:04am
Trade 2: USDJPY +2.28R

M5, M1 charts below.

(the previous trade is based on order-flow info from 6J and is outside what I discuss in the public domain).
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  • #5,607
  • Nov 19, 2013 5:05am Nov 19, 2013 5:05am
Trade 3: USDCAD break and re-test off an SR following consumption of supply and clear strong rejection strength and thus the obvious expectation for continuation momentum. +1.7R

H1, M15, M1 charts below.
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  • #5,608
  • Nov 19, 2013 9:56am Nov 19, 2013 9:56am
Glad to see this thread is still alive. I'm working my way through it steadily (page 78/281) - in tune with my beliefs about the market and how to trade. Glad to see the references to fib levels being ditched at a later stage...

Appreciate the offer of knowledge and ideas by LJ and some of the other contributors - arguably the best thread on FF. Thanks all.

Huk
  • #5,609
  • Nov 19, 2013 3:09pm Nov 19, 2013 3:09pm
Slow afternoon session with just one trade. Missed 2 trades over lunch on USDJPY and then got the final trade into the H1 expected move but made the wrong trade management decision for the 2nd part of my trade.

+1.48R for the trade and +7.58R for the day across the 4 trades.

H1, M5, M1 charts below.
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  • #5,610
  • Nov 20, 2013 5:21am Nov 20, 2013 5:21am
Not an easy morning with USDJPY, some sporadic moves first thing that I stayed clear from then low volume for the rest of the morning.

Trade 1: -0.57R

H1, M15, M5,M1 and 30sec charts below.
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  • #5,611
  • Nov 20, 2013 5:22am Nov 20, 2013 5:22am
Trade 2: +3.32R

M10, M5, M1 charts below.
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  • #5,612
  • Nov 20, 2013 10:49am Nov 20, 2013 10:49am
Quiet afternoon session with lots of news around and markets awaiting FOMC so no USDJPY trades.

Two HTF trades.

1. AUDCAD DRT - half risk due to the retrace a) being from HTF supply and b) being a material sized retracement.

-0.50R loss (full loss at half size).
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  • #5,613
  • Nov 20, 2013 10:50am Nov 20, 2013 10:50am
2. Audusd m30 fb +1.15r
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  • #5,614
  • Nov 21, 2013 2:43am Nov 21, 2013 2:43am
Quoting lovejoy80
2. Audusd m30 fb +1.15r {image} {image} {image}
Hi Mark,

I dont quite get which candle is the actual FB? I would say it's candle A but then the candle B would have stopped me out. On your pic it seems that the FB candle is the candle B. I have just finished studying you FB material so I am very new to this..

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  • #5,615
  • Nov 21, 2013 2:53am Nov 21, 2013 2:53am
Again me. There is a potential FB on 1h AUDUSD. The swing is very clear and a deep one. In my opinion the rejection is ok, the setup is a nice shaped double bottom and the price also hit demand in forming this FB. Would you say is this a good FB?

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  • #5,616
  • Nov 21, 2013 12:05pm Nov 21, 2013 12:05pm
Quoting mtrader123
{quote} Hi Mark, I dont quite get which candle is the actual FB? I would say it's candle A but then the candle B would have stopped me out. On your pic it seems that the FB candle is the candle B. I have just finished studying you FB material so I am very new to this.. {image}
The first candle wasn't one I'd consider as it's just not clear enough a rejection versus the move down. It was only after the 3 bars combined that the overall rejection strength in the FB was strong enough to make for a clear setup. So in effect it was a 90min FB of a 30min SR.
  • #5,617
  • Nov 21, 2013 12:11pm Nov 21, 2013 12:11pm
Quoting mtrader123
Again me. There is a potential FB on 1h AUDUSD. The swing is very clear and a deep one. In my opinion the rejection is ok, the setup is a nice shaped double bottom and the price also hit demand in forming this FB. Would you say is this a good FB? {image}
The location is fine, but the FB isn't.

It just doesn't stand out enough versus the move down, remember we need to be fully confident that the FB isn't merely demand consumption paving the way for a move down in line with the preceding trend. In this case you just can't conclude that it's not demand consumption.

The more obvious FB's occur in sideways ranges and not during trending markets and for me given the daily TF PA at the moment I'd only have been considering shorts on that pair for the last few days.

Here is a very recent example from earlier today of the type of FB you want to see when against a strong trending move into - notice how the rejection behind the FB bar is really noticeable and just stands out a whole lot more than the AU one.

Of course nothing is 100% certain in trading, sometimes setups like the AU will work out, but more often than not they won't, whereas ones like AJ will work out a lot more often than they won't.
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  • #5,618
  • Nov 21, 2013 12:12pm Nov 21, 2013 12:12pm
FTB in GCAD this morning, planned the trade, stepped away from my desk and missed it.
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  • #5,619
  • Nov 21, 2013 12:40pm Nov 21, 2013 12:40pm
Quoting lovejoy80
{quote} The first candle wasn't one I'd consider as it's just not clear enough a rejection versus the move down. It was only after the 3 bars combined that the overall rejection strength in the FB was strong enough to make for a clear setup. So in effect it was a 90min FB of a 30min SR.
Hey Mark,

thanks for the answer. However, I dont quite get it; the candle A closed higher than the 90 minutes candle. So the rejection of S/R of the candle A was better than that of the 90 minutes candle. Moreover, the 90 minutes candle closed just at the S/R or slighlty below so there is scarcely a rejection. Furthermore, if you take a 90 minutes candle than that 30 minutes S/R becomes quite meaningless which contradicts your rule of thumb that you want to have FBs at very significant levels..

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  • #5,620
  • Nov 21, 2013 12:41pm Nov 21, 2013 12:41pm
Quoting lovejoy80
{quote} The location is fine, but the FB isn't. It just doesn't stand out enough versus the move down, remember we need to be fully confident that the FB isn't merely demand consumption paving the way for a move down in line with the preceding trend. In this case you just can't conclude that it's not demand consumption. The more obvious FB's occur in sideways ranges and not during trending markets and for me given the daily TF PA at the moment I'd only have been considering shorts on that pair for the last few days. Here is a very recent example...

Yes Sir,

that is true, I get it. It's better to look for FBs in ranging markets than in strongly trending ones. Thank you for the answer.
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