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  • #5,721
  • Jan 9, 2014 9:43am Jan 9, 2014 9:43am
GBPJPY
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  • #5,722
  • Jan 9, 2014 10:16am Jan 9, 2014 10:16am
Quoting lovejoy80
GBPJPY {image} {image} {image} {image}
Mirror image: didn't take this trade but posted exact same setup in my Journal as chart example (3 minutes before you posted so wasn't copied).

http://www.forexfactory.com/showthre...40#post7201740
The purpose of knowledge is action, not knowledge
  • #5,723
  • Jan 12, 2014 6:10am Jan 12, 2014 6:10am
Quoting alifari
{quote} Mirror image: didn't take this trade but posted exact same setup in my Journal as chart example (3 minutes before you posted so wasn't copied). http://www.forexfactory.com/showthre...40#post7201740
Nice - couple questions though:

1. Is the upper red dotted line your planned SL, if so, then why there?

2. Is that really suitable PA to get short, after the M5 bar is that not straight into M5 demand?
  • #5,724
  • Jan 13, 2014 3:47am Jan 13, 2014 3:47am
Mark I´m trying to spot right FTB zones and SD zones. Could you please go over these few charts and say me if they look ok to you for FTB trade or if no and why ?

Thank you for answer
Martin
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  • #5,725
  • Jan 13, 2014 12:09pm Jan 13, 2014 12:09pm
Quoting Martin600
Mark I´m trying to spot right FTB zones and SD zones. Could you please go over these few charts and say me if they look ok to you for FTB trade or if no and why ? Thank you for answer Martin {image} {image} {image} {image} {image}
A more beneficial exercise (for your learning) would be for you to tell me why you think they are good FTB setups.

Go through each one and explain your thought process via short concise points as to why they are valid setups.

Do that and I'll be able to spot any gaps in your knowledge and/or thought process.
  • #5,726
  • Jan 13, 2014 2:35pm Jan 13, 2014 2:35pm
So here are my thoughts on few of them. For the USDZAR i think it is the similar case as EURNZD as i explain on chart below. Nice imbalance and quite well defined supply. On usdjpy I´m not sure if it is a great trade. It is not so well defined and the lows aren´t exact as on EURNZD and USDZAR but it caused a great imbalance too. I would propably not take it. That´s all I can say. :/

Thank you for your help
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  • #5,727
  • Jan 14, 2014 4:54am Jan 14, 2014 4:54am
Quoting Martin600
So here are my thoughts on few of them. For the USDZAR i think it is the similar case as EURNZD as i explain on chart below. Nice imbalance and quite well defined supply. On usdjpy I´m not sure if it is a great trade. It is not so well defined and the lows aren´t exact as on EURNZD and USDZAR but it caused a great imbalance too. I would propably not take it. That´s all I can say. :/ Thank you for your help {image} {image} {image} {image}
Is the supply really that well defined in the ENZD setup? A well defined zone is one that:

  1. Has substance (in terms of pips width and number of bars that make up the zone).
  2. Has well defined edge - decision points.
  3. One which lead to a strong momentum breakout (strong SD imbalance).

Does the ENZD have a well defined edge. I don't think it does. The supply on the H1 TF should be as per my chart below.

Compare this to a recent supply zone FTB setup and how well that zone is defined.

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  • #5,728
  • Jan 14, 2014 4:55am Jan 14, 2014 4:55am
Quoting Martin600
So here are my thoughts on few of them. For the USDZAR i think it is the similar case as EURNZD as i explain on chart below. Nice imbalance and quite well defined supply. On usdjpy I´m not sure if it is a great trade. It is not so well defined and the lows aren´t exact as on EURNZD and USDZAR but it caused a great imbalance too. I would propably not take it. That´s all I can say. :/ Thank you for your help {image} {image} {image} {image}
The USDHUF is a well defined SR with a good strong breakout and thus is a good location for an FTB (not that I personally trade FTB's on exotic pairs).

You have to watch that close approach though - if price reacts there again then this could become your FLS and thus result in a setup that is too low in value.
  • #5,729
  • Jan 14, 2014 7:18am Jan 14, 2014 7:18am
Two HTF PA trades from today, playing the expected NZD strength (NJ - H4, H1 charts and NU - Daily, H4, H1 charts)
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  • #5,730
  • Jan 14, 2014 12:08pm Jan 14, 2014 12:08pm
Quoting lovejoy80
{quote} Is the supply really that well defined in the ENZD setup? A well defined zone is one that: Has substance (in terms of pips width and number of bars that make up the zone). Has well defined edge - decision points. One which lead to a strong momentum breakout (strong SD imbalance).Does the ENZD have a well defined edge. I don't think it does. The supply on the H1 TF should be as per my chart below. Compare this to a recent supply zone FTB setup and how well that zone is defined. {image} {image}
Thank you Mark will try to look for more defined zones, hope it will come with experience.
  • #5,731
  • Jan 15, 2014 8:06am Jan 15, 2014 8:06am
Quoting Martin600
{quote} Thank you Mark will try to look for more defined zones, hope it will come with experience.
Experience and backtesting - the part most miss out.

Having at least 50 examples of the following is a must:

1. A tradable FTB SD setup
2. A tradable FTB SR setup
3. Where to place Entry, SL and FLR/S
4. Examples of the nuances associated with price approach (basing ahead of entry, impulsive moves, close approach and rejection away etc).
  • #5,732
  • Jan 15, 2014 8:07am Jan 15, 2014 8:07am
Example of a great SD zone FTB today with this NZDUSD setup.
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  • #5,733
  • Jan 15, 2014 8:08am Jan 15, 2014 8:08am
Example from today of a good SR FTB but price reacted to the demand just above which created a new base and thus no value.
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  • #5,734
  • Jan 15, 2014 8:10am Jan 15, 2014 8:10am
Two USDJPY day trades from this morning.

Trade 1:
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  • #5,735
  • Jan 15, 2014 8:10am Jan 15, 2014 8:10am
Trade 2:

Can use the same M5, M15 charts from the above.

M1 chart below.
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  • #5,736
  • Jan 15, 2014 12:12pm Jan 15, 2014 12:12pm
Textbook H4 FB that a member spotted earlier.
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  • #5,737
  • Jan 15, 2014 10:28pm Jan 15, 2014 10:28pm
Example of an impulsive move that means the previously planned FTB trade is cancelled.

Of course some impulsive moves can be predicted in advance - this one occurred due to the AUD data release i.e. you wouldn't have your orders in place heading into the data release.
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  • #5,738
  • Edited 6:47am Jan 16, 2014 12:18am | Edited 6:47am
First PA trade of the day on EURUSD +1.81R
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  • #5,739
  • Jan 16, 2014 12:21am Jan 16, 2014 12:21am
Two minutes later...

You can't beat momentum trading IMO.
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  • #5,740
  • Jan 16, 2014 6:44am Jan 16, 2014 6:44am
Got a bit lucky with this GU trade having missed the correct exit area first time around.

+1.92R
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