LJ Forex Group

Quoting mtrader123

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{quote} 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.. {image}

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Quoting lovejoy80

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{quote} Why does a higher close affect the rejection strength? The rejection strength is shown by the size of the rejection from the lows, not where price closed? The rejection strength wasn't strong enough on the M30 close, but it was at some time later and was still within premise of an FB occurring quickly (i.e. within 1-3 bars of the BO). Look at the first chart below and combine all of the M5 bars, what does that make - a strong rejection FB with new demand created that should hold on the retest. Another way to visualize it is the 2nd chart...

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Quoting mtrader123

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{quote} M32 chart? Wau, that isnt something a newbie would spot. Isnt it wise to stay with commonly used time frames like 30m, 1h, 15m etc? I would say you require quite a long wick to be sure the breakout is a true FB. Moreover, the space was very small, you were aiming for ca 10 pips which would have put me off.

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Quoting lovejoy80

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Couple setups that triggered during Asia, a UJ FTB and an EG DRT. {image} {image} {image} {image} {image} {image}

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Quoting kenkoo

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{quote} Hi Mark, there is a RBR FTB for UJ. Price moves with great velocity from this zone, suggesting strong demand. Is this a lower probability trade compare to the trade off the clear resistance (orange line)? http://my.jetscreenshot.com/demo/20131126-n3fj-75kb

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Quoting lovejoy80

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One trade this afternoon, GBPJPY M15 FB for +3.94R M15, M5, M1, M1 charts below. {image}

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Quoting alifari

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{quote} Mark, Nice trade, just curious to know at what point you decided to move your stop to breakeven +1 ? Was it at around 1M DBD at around 163.975.

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Quoting alifari

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Mark, Here is a trade I took on USDJPY. Would appreciate your view. Chart H1, M5 & M1 Entry: 101.291 - SL 101.341 - TP 101.190 Trade Result = 2.02 R Trade Reason: 1) Breakout of 1 Hour support, waited for retracement on 5 minute time frame. 2) Supply cap created close to breakout point. Waited for momentum on 1 minute chart and entered after breakout of 1 minute demand zone. Although there was 5 minute demand below, but overall momentum was down and keeping in view 1 hour time frame price action targeted take profit area of 1 hour lower support....

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Quoting lovejoy80

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One trade this afternoon, GBPJPY M15 FB for +3.94R M15, M5, M1, M1 charts below. {image} {image} {image} {image}

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