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  • #5,641
  • Nov 27, 2013 1:31am Nov 27, 2013 1:31am
Quoting mtrader123
{quote} Hi Mark, please have a look at my pic. I would have been stopped out. Isnt that breakout material enough? {image}
No, it's not material enough relative to the move down.
  • #5,642
  • Nov 27, 2013 1:32am Nov 27, 2013 1:32am
Couple FTB's that triggered overnight and this morning.

1. AUDJPY M15 SD FTB
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  • #5,643
  • Nov 27, 2013 1:33am Nov 27, 2013 1:33am
2. EURUSD M15 SR FTB
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  • #5,644
  • Nov 27, 2013 2:30am Nov 27, 2013 2:30am
Quoting lovejoy80
{quote} Not something I would have been keen on as the M5 demand you were trading into was the key demand in that area i.e. it's only when that demand is consumed do we know that price is heading to the next target area. It's the demand that caused the move back to the 35's area so for me it's the important opposing demand that has to be consumed before I consider a short. Thus for me the logical trade is the M1 retrace to that former demand expecting a momentum move down to 17's (next HTF target). {image}
Thanks for your valuable input.
The purpose of knowledge is action, not knowledge
  • #5,645
  • Nov 29, 2013 6:12am Nov 29, 2013 6:12am
EurJpy Trade, Taken Last night.
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Price Is The Best Indicator Itself.
  • #5,646
  • Dec 1, 2013 8:30pm Dec 1, 2013 8:30pm
M15;bull trap+ bearish 3drive

https://www.tradingview.com/x/Ry8GSVaJ/
  • #5,647
  • Dec 2, 2013 7:01am Dec 2, 2013 7:01am
Hi LJ80

I'm not expert, it's been a few weeks I'm following you.

It seems that you like to trade local SR flip, do you search for a decision point near the SR level that should hold on ritrecement? Is it the same if it is a little before or after the break or one is better than other?
  • #5,648
  • Dec 4, 2013 1:43am Dec 4, 2013 1:43am
Quoting Andy.fx
Hi LJ80 I'm not expert, it's been a few weeks I'm following you. It seems that you like to trade local SR flip, do you search for a decision point near the SR level that should hold on ritrecement? Is it the same if it is a little before or after the break or one is better than other?
One of my strategies is trading the first time back to an SR level following a strong breakout of the level and an arc like move away.

When determining the SL for a trade I'm always zooming in and looking at the Supply and Demand structure and this involves identifying where the key decisions were made / decision points / zones.

You can find more information on these points via my You Tube videos.
  • #5,649
  • Dec 4, 2013 1:52am Dec 4, 2013 1:52am
Understanding price approach and being aware of upcoming news is key to successfully trading the FTB. I take into consideration the following three points:

1. Has a new base formed ahead of the level/zone
2. Is the move into the level / zone impulsive.
3. Is there major upcoming news

We had an example of a new base and it's effect on a EURUSD FTB yesterday, the new base creates a new FLS and thus no value in the trade.
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  • #5,650
  • Dec 4, 2013 1:57am Dec 4, 2013 1:57am
Being aware of upcoming news is very important when trading FTB's.

Orders get pulled ahead of news, liquidity is scarce (and thus the risk of slippage is higher) and the news itself can lead to a shift in sentiment - all things we don't want occurring when trading the FTB.

Aside from the FTB, awareness of upcoming major news events is important in any form of PA trading, only an amateur trades obvious to major news and how it can affect trading conditions during this time.

We had two FTB's last night which highlight this, NZDCAD and AUDCAD - with the AUD GDP due at 00.30.

Personally I have an automated way of suspending / cancelling limit orders ahead of major news like this which kicked in 5 mins before the news was due. Clearly it'd not rocket science to know that NZD will be materially affected by major AUD news too and thus cancelling the NZDCAD trade was prudent as well.
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  • #5,651
  • Dec 4, 2013 2:22am Dec 4, 2013 2:22am
Quoting entheos
M15;bull trap+ bearish 3drive {image}
It's not really a bull trap up there, I mean who is trapped going long up there?

The real area traders would have been trapped would have been upon the temporary break of the swing high to the left.
  • #5,652
  • Dec 4, 2013 2:23am Dec 4, 2013 2:23am
Quoting asim.iqbal
EurJpy Trade, Taken Last night. {image}
I welcome people posting their own trades in this thread, but posting trades without detailed explanation / reasoning is rather pointless and adds no value.
  • #5,653
  • Dec 5, 2013 3:42am Dec 5, 2013 3:42am
Hello Mark,

was this a bad setup in your book? Is there any reason it failed or was it ok? I dont have a clue. I would say its a good setup.

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  • #5,654
  • Dec 5, 2013 5:15am Dec 5, 2013 5:15am
Quoting mtrader123
Hello Mark, was this a bad setup in your book? Is there any reason it failed or was it ok? I dont have a clue. I would say its a good setup. {image}
The two main points that stand out for me are that the zone doesn't have a lot of substance to it (the zone is as per how I've marked it up) and the move into the zone is quite impulsive.
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  • #5,655
  • Dec 5, 2013 5:31am Dec 5, 2013 5:31am
Quoting lovejoy80
{quote} The two main points that stand out for me are that the zone doesn't have a lot of substance to it (the zone is as per how I've marked it up) and the move into the zone is quite impulsive. {image}
Hi Mark,
thanks. I get the impulsivness. It formed kind of a pin bar on higher TF. However, I dont get it why the zone is shorther than how I drew it. What have I overlooked when drawing it?
  • #5,656
  • Dec 5, 2013 2:19pm Dec 5, 2013 2:19pm
Quoting mtrader123
{quote} Hi Mark, thanks. I get the impulsivness. It formed kind of a pin bar on higher TF. However, I dont get it why the zone is shorther than how I drew it. What have I overlooked when drawing it?
If you look at the zone I drew it represents the supply that actually caused the move down. The zone you drew incorporates meaningless sideways chop during the low liquidity pre-Asia open time period.
  • #5,657
  • Dec 5, 2013 4:22pm Dec 5, 2013 4:22pm
Hey Mark,
I have just watched your videos about the daily retest. I am new here so I would be glad to know your opinion about my audchf chart. Is the location and my SL placement OK? By the way perfect work here
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  • #5,658
  • Dec 6, 2013 7:55am Dec 6, 2013 7:55am
Hello everyone, new at the forum, love this thread.

Nice setup on cable:
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  • #5,659
  • Edited 8:42am Dec 6, 2013 8:41am | Edited 8:42am
The one I was willing to take, EU:

compression + Bear trap + ignored demand turned to supply... But momentum seems too bullish for me, maybe waiting for a retest is more prudent:

When do yo use to wait for a retest and when you do not?

http://charts.mql5.com/3/262/eurusd-...extime-ltd.png
  • #5,660
  • Dec 9, 2013 8:36am Dec 9, 2013 8:36am
Quoting lovejoy80
{quote} If you look at the zone I drew it represents the supply that actually caused the move down. The zone you drew incorporates meaningless sideways chop during the low liquidity pre-Asia open time period.
Hello Mark,

I thought I get it but then I saw today that you are waiting for an FTB on GBPCAD. I am perplexed now. I cant see the difference in the gbpcad zone and my USDCHF zone. The usdchf zone you highlighted seems to have even more substance (more bars) than the GBPCAD zone and yet you did not like it. Could you please explain? I am lost. Thank you in advance..

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