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Accurate Zones For Day Trading Futures and Currencies

  • #41
  • Jan 10, 2014 4:56am Jan 10, 2014 4:56am
NFP is at 730 CST so be cautious. Please see attached 6B and 6E and GC. Since this is a forex forum, I will always post the 6E and sometimes will post the 6B if I have a chance to calculate for it. (Gold is a bonus for today since it is NFP and Gold moves better than all of them on this particular day) I didnt post for the 6B london session.... Should have (take a look at the move off the zone.

Anyway, see attached 6E and 6B US session Zones, and see 6B London session move. Let me know if you have any questions. Please refer to previous posts and videos to learn how to execute trades off of the zones.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-01-10_0636_-_6E_US_SESSION.png Size: 35 KB
Click to Enlarge Name: 2014-01-10_0638_-_6B_US_SESSION.png Size: 35 KB
Click to Enlarge Name: 2014-01-10_0642_-_6B_London_update.png Size: 55 KB
Click to Enlarge Name: 2014-01-10_0650_-_GC_US_SESSION_ZONE.png Size: 54 KB
  • #42
  • Jan 10, 2014 5:07am Jan 10, 2014 5:07am
I only have one belief. That I can make a lot of money using price action. I clearly understand what works for me and I can live with it. I could care less about anything that's going to give me a headache. I trade stocks sometimes that I don't even know the business name of. The symbol letters but that's it. I see things happening I trade it. No clue what they do for business most of the time. I've been hangin out here in case you want to see what I'm up to... http://www.forexfactory.com/showthread.php?t=463083

Quoting TranceTrader
In 2 years time, lets see if you still hold the same beliefs. The reality is your explanation is too simplistic, the whole *human emotions* excuse for technical analysis is a fallacy and It takes time to understand why. To suggest that all instruments move alike is ridiculous, the only similarity they share is the possibility of moving up and down... that's it. Try looking at the history of volatility differences between stocks & government bonds, currencies & grains, indices & junk bonds, eurodollar futures & weather derivatives. If it was as simple...
SPC * Swollen PocketZ Crew!
  • #43
  • Jan 10, 2014 5:27am Jan 10, 2014 5:27am
Look for a spike up into the zone on both the 6E and 6B. Its ok if price trades through the top a little bit, then look on a smaller tick chart for a trendline break and retest or an M pattern short. If price shoots right through the zone by 20 ticks or more, then wait for a pull back and long trade if you get confluence with the 100 SMA angled at least slightly up (40 crossed over to the upside is even better, but not necessary. Best of luck!

PS... Look for the exact same thing on GOLD... Test of zone and pattern short
  • #44
  • Jan 10, 2014 5:33am Jan 10, 2014 5:33am
Be patient here.... give it a chance to work itself out. Odds are we will get a trade set up still.... Long and short on the 6B are still open right now
  • #45
  • Jan 10, 2014 5:46am Jan 10, 2014 5:46am
It happened too fast on the 6E and the GC and didnt give an entry trigger, but price broke through and tested the zone and broke out for huge moves
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-01-10_0739_-_6E_NFP_Update.png Size: 119 KB
Click to Enlarge Name: 2014-01-10_0744_-_GC_NFP_Update.png Size: 102 KB
  • #46
  • Jan 10, 2014 6:03am Jan 10, 2014 6:03am
and Lastly... 6B udpate
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-10_0802_-_6B_NFP_update.png Size: 106 KB
  • #47
  • Jan 10, 2014 6:11am Jan 10, 2014 6:11am
I forgot about the multiple news releases this morning as well. I know better not to be in when it happens but totally forgot. Nothing is safe when this happens. Just waiting around now for the dust to settle than it's back to makin' dat money.


Quoting techfan1128
It happened too fast on the 6E and the GC and didnt give an entry trigger, but price broke through and tested the zone and broke out for huge moves {image} {image}
SPC * Swollen PocketZ Crew!
  • #48
  • Jan 10, 2014 6:31am Jan 10, 2014 6:31am
Quoting JoeNY
I forgot about the multiple news releases this morning as well. I know better not to be in when it happens but totally forgot. Nothing is safe when this happens. Just waiting around now for the dust to settle than it's back to makin' dat money. {quote}
Im with you Joe.... I personally do not trade News (especially not NFP and FOMC). I know that alot of people want to try and trade it though. I try to post and show that you can trade the news, but most of the time it happens so fast you better have a limit order waiting to get filled where you want, and we all know with a news release that can be risky for sure. Some people are good at trading news, and I am good at give my money to those who are good at trading the news!
  • #49
  • Jan 10, 2014 6:35am Jan 10, 2014 6:35am
Me tooooo... dam-it

Quoting techfan1128
{quote} ... and I am good at give my money to those who are good at trading the news!
SPC * Swollen PocketZ Crew!
  • #50
  • Jan 10, 2014 12:34pm Jan 10, 2014 12:34pm
What a day for the zones! Check out the recap here:

Inserted Video


I will continue to post next week. Hopefully you guys are finding these helpful for your trading! Im attaching a little user manual on the first post so that you guys can get a little better description how to trade with them.
  • #51
  • Jan 11, 2014 1:46am Jan 11, 2014 1:46am
techfan1128,

i like your thread and subscribed.

have been trading demand & supply for few months and i gotta admit still having difficulties in finding the correct turning point.
will use your zones as guidelines.

hope you could share how you predetermined the trading zones..

thanks
  • #52
  • Edited 1:15am Jan 12, 2014 12:10am | Edited 1:15am
I dont usually do zones on forex pairs but i had a request for the jpygbp... look how price reacted to the zone and targets on the news release
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-11_0900_-_GBPJPY_NFP_Example.png Size: 31 KB
  • #53
  • Edited 12:54pm Jan 12, 2014 12:19pm | Edited 12:54pm
I wanted everyone to take a look back at their charts and see how much time of day matters when placing your trades. Look back a few weeks on monday and see what the market that you trade did.

Time windows - There are certain times every day where the market does certain things. For instance at 930-945am CST on the ES, NQ, TF, YM, CL, ect... if price Spikes a high or low and then gets quickly rejected. Its most likely going to be a reversal (fake out breakout). There are other times during the day that are typical turning times.

Also, If you pull up a 5 min chart and look at it it over the past couple of weeks, you will see that in many cases, this this tuesday will be very similar and turn at similar times as last tuesday (about 65-70% of the time). This is not a coincidence. Most trades placed in the markets are now all algorithm based, so they do things in a certain way, at a certain time in order to gain the most profitability.

Look at the side by side charts... one day is thursday 1/2 and the other is last thursday 1/9. DO the charts look like they could almost be the same day. Look how price turned very near the same time. The first two turns of the day (these are the ones that will produce the largest moves of the day typically) happened at the exact same time. This is what I mean by market manipulation. It is not freely traded and humans pushing it around by their sentiment. It is algorithm traded designed based on human tendencies. I encourage all of you to go do the same. What every day you are trading, look back a week or two and see what happened on that day the last couple times. You will be amazed at what you discover.

I also put together a little video explaining further

Inserted Video
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-12_1410_-_Proof_ES.png Size: 132 KB
  • #54
  • Jan 12, 2014 9:51pm Jan 12, 2014 9:51pm
6E London zone and targets
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-12_2349_-_6E_LONDON_SESSION_ZONE.png Size: 57 KB
  • #55
  • Jan 12, 2014 10:02pm Jan 12, 2014 10:02pm
6B Trade zone and targets... Trade according to the rules. If you have a question as to what the rules are, please ask and I'll be happy to answer any questions you might have!
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-13_0000_6B_LONDON_SESSION_TRADE_ZONE.png Size: 58 KB
  • #56
  • Edited 1:01am Jan 13, 2014 12:43am | Edited 1:01am
I thought this was interesting. I was curious about your posted zones so I drew the 6B zone on my GU chart immediately after you posted it and forgot about it. Was trying to see if you were using SD zones or pivot point zones. Just trying to see the method behind it. Anyway I forgot about it. Little later, London open, saw a good short setup on the GU M1 and pulled the trigger. Zoomed out to M15 and saw I had the zone drawn there. Price went right to it, bounce on the edge 1.644 for a moment which can be seen on M5 and then went right in. I just closed it for +40. You really have me scratching my head. I found an SR line on the hour chart to kind of explain something but man you had the bounce to the exact pip. Nice one... I usually scale out but wasn't thinking and sure enough, this is still going south.

Attached Image



Quoting techfan1128
6B Trade zone and targets... Trade according to the rules. If you have a question as to what the rules are, please ask and I'll be happy to answer any questions you might have! {image}
SPC * Swollen PocketZ Crew!
  • #57
  • Jan 13, 2014 3:05am Jan 13, 2014 3:05am
Quoting JoeNY
I thought this was interesting. I was curious about your posted zones so I drew the 6B zone on my GU chart immediately after you posted it and forgot about it. Was trying to see if you were using SD zones or pivot point zones. Just trying to see the method behind it. Anyway I forgot about it. Little later, London open, saw a good short setup on the GU M1 and pulled the trigger. Zoomed out to M15 and saw I had the zone drawn there. Price went right to it, bounce on the edge 1.644 for a moment which can be seen on M5 and then went right in. I just...
JoeNY,

U were using 6B chart for GU & 6E chart for EU?
i was wondering if the zones will be the same as both have different quotes & chart patterns.
  • #58
  • Jan 13, 2014 4:44am Jan 13, 2014 4:44am
I only did the 6B GU. I figure it's all based on price so there should be no difference. I didn't really base my trade on it. More just putting it on the screen and seeing what's what with it. I wasn't really following the details of the trading it part of the thread, but I was interested in the zones. I'm always looking for another edge. I'm interested in anyone's style when they share. Oh and yes I would have used 6E with EU but that's not the style in this thread. i was just experimenting.

Quoting Asotos Ermis
{quote} JoeNY, U were using 6B chart for GU & 6E chart for EU? i was wondering if the zones will be the same as both have different quotes & chart patterns.
SPC * Swollen PocketZ Crew!
  • #59
  • Jan 13, 2014 5:10am Jan 13, 2014 5:10am
Sorry, a little late today.. See US Session zones for 6E and 6B
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-01-13_0639_-_6B_ZONE.png Size: 39 KB
Click to Enlarge Name: 2014-01-13_0645_6E_ZONE.png Size: 61 KB
  • #60
  • Edited 7:05am Jan 13, 2014 6:51am | Edited 7:05am
So just for curiosity sake again I drew the 6B zone on my GU spot chart. I got to tell you, looks like it's starting to base up. Could this be heading up now for the zone..... On the M15, this zone does look like something I'm familiar with but the others have me scratchin' my head. Good stuff...

Attached Image
SPC * Swollen PocketZ Crew!
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