Bought EA and closed 3/3 for +60 pips.
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- #83
- Dec 17, 2013 6:23pm Dec 17, 2013 6:23pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Bought EA and closed 3/3 for +60 pips. {image} {image}
Superb trading (man, your trades really forced me to say this over and over again
)Chao
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #84
- Dec 17, 2013 9:15pm Dec 17, 2013 9:15pm
- Joined Mar 2010 | Status: Trader | 1,635 Posts
do you use anything else for confirmation momentum etc or do you just wait for a clear break of previous demand zone i ask because it could be a bear trap tootake care and keep posting
{quote} A risky trade, trading right into a bull trap setup, but I'm pretty sure you knew that it would fake out further higher because of the time of day (late NY Session), where liquidity is low. Chao
As you guys may know, I do like bull/bear traps. One important thing about Trap is "strong supply right above bull trap and strong demand right below bear trap". Last night, price engulfed 4H supply north and no strong supply that could push down and make bull trap until price reaches next supply (orchid horizontal line on my chart).
You can see many horizontal lines on my charts. It is hard to explain how to draw them because it is sometimes subjective. I've named my approach "TIME", which stands for "Top-down analysis", "Impactful patterns", "Momentum analysis", and "Engulf". I draw these lines when performing top-down analysis from monthly to 4H and keep adjusting them whenever necessary.
- #85
- Dec 17, 2013 10:14pm Dec 17, 2013 10:14pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} {quote} Chao and z1p, As you guys may know, I do like bull/bear traps. One important thing about Trap is "strong supply right above bull trap and strong demand right below bear trap". Last night, price engulfed 4H supply north and no strong supply that could push down and make bull trap until price reaches next supply (orchid horizontal line on my chart). You can see many horizontal lines on my charts. It is hard to explain how to draw them because it is sometimes subjective. I've named my approach "TIME", which stands for "Top-down analysis",...
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #89
- Dec 18, 2013 6:27pm Dec 18, 2013 6:27pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
GBPAUD 5M Chart Sometimes it happens... {image} {image}
No worries for missing Bal, Considering the time of year, it's best to stay safe, than to rake in more pips. U'll get all the pips you need, safe and sound soon enough.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #92
- Dec 19, 2013 6:20pm Dec 19, 2013 6:20pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Spent a lot of time in looking at EA but no trade.... {image} {image} {image} {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #93
- Dec 20, 2013 4:55am Dec 20, 2013 4:55am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
{quote} Hey Balhana, it's pretty obvious that liquidity is drying out, since it's less than 1 week to Christmas, plus the day after FOMC normally ends up with small small movements. It's pretty amazing that you're still trading actively as usual. I personally opted to stay safe, and not trade
Bought EA and closed 3/3 for +75 pips.
