opened short EURCAD @ 1.38
Attached Image (click to enlarge)
PVSRA (Price, Volume, S&R Analysis)
- #1,902
- Jun 24, 2015 1:04am Jun 24, 2015 1:04am
EURCAD long Looking H4 price is at an important SR area. the last entry was done with high volume, closing under 1/1 number. As I see it MM's are closing shorts and filling long orders.{image}
For all just starting in Forex also keep an eye on the BIG picture of the daily.
I've attached a chart of the USDJPY to show what I mean.
As we can see the USDJPY pair is now ranging on the daily. It broke through the 120.741 level on the 20th of May and reached it Buying Climax (BC) on the 5th of June in the grey target area. After reaching the PSY (Preliminary Supply) till reaching the top of the BC candle the MM's offloaded (distributed) the truck to late DM (Dumb Money). Then as usual the AR (Automatic Rally) occurs to set the lower side of the new daily ranging area.
THIS AREA IS THE FOX's (Money-Makers) DOMAIN TO KILL !!!
It will draw bulls and bears to ANY line in this range area weather it be half, full, 50% fib or popular MA on the daily or anything we gather as a herd with Stop-Loss, Limit or any finger on the trigger. THE FOX DOESN'T CARE. It will try to kill any of us with twists and turns until it has enough for the next move. It will visit many of the lines with short zig-zag's (re-tests to take, take take) and some major lines several times. As long as you are aware of that you have a head-start. Keep to your strategy and try to outsmart the fox and follow it. Do not over-analyze either stick to your strategy even if that means being outsmart by the fox for that trade. Mostly if it slings away from a major line it will head for the next major line on the daily often being the outside lines of the ranging area to make a U-turn. But towards the end of the "tunnel" it will often crash into one outer line to springload/stoploss/slingshot itself to the other side and breakout from there. Or like the previous range area of this pair it steps outside the top-line of the range and if still thirsty it will sling back with the collection box once more under it's arm to revisit some lines/gathering area's. It sits on the other side of the screen and sees our every move. "See" the fox and follow him not too close though. I trade SMALL when ranging. If the Fox tested a line several times it moves on it can't stay too long once most Dumb Money bulls and bears are cleaned and eaten it will move to the new killing line sometimes passing a few it is not interested in. Red news is also a happy zig-zag to kill during ranging and seems less during trending except for the NFP and during next level re-accumulation.
The side it will sling out of the ranging area towards the next major climax on the daily be it buying or selling is dependent on many factors and the more random part of Forex for retail traders. It is in nobodies full control but the lead role is for the MM's of course. I like the trending part with it's refueling levels (re-accumulating up to 9+ times but mostly 3x) the best for pyramids on the anchor trade and the BC or SC recognizable after PSY on the bull or PS (Preliminarily Support) on the bear side also relating to volume for the trained eye. But there is also a lot of money to be made in the daily ranging area (+/-70% of the time a pair will range). Remember the "ranging tunnel" can also be on a (slight) angle over time.
On the pair USDJPY it looks like heading towards the ST (Secondary Test) of the BC line but it can also U-turn at 124.500 to retest the AR line as a lot is going on there as well.
BE AWARE WHERE YOU ARE IN THE BIG PICTURE OF A PAIR IS MY MAIN MESSAGE
Happy Trading
I've attached a chart of the USDJPY to show what I mean.
As we can see the USDJPY pair is now ranging on the daily. It broke through the 120.741 level on the 20th of May and reached it Buying Climax (BC) on the 5th of June in the grey target area. After reaching the PSY (Preliminary Supply) till reaching the top of the BC candle the MM's offloaded (distributed) the truck to late DM (Dumb Money). Then as usual the AR (Automatic Rally) occurs to set the lower side of the new daily ranging area.
THIS AREA IS THE FOX's (Money-Makers) DOMAIN TO KILL !!!
It will draw bulls and bears to ANY line in this range area weather it be half, full, 50% fib or popular MA on the daily or anything we gather as a herd with Stop-Loss, Limit or any finger on the trigger. THE FOX DOESN'T CARE. It will try to kill any of us with twists and turns until it has enough for the next move. It will visit many of the lines with short zig-zag's (re-tests to take, take take) and some major lines several times. As long as you are aware of that you have a head-start. Keep to your strategy and try to outsmart the fox and follow it. Do not over-analyze either stick to your strategy even if that means being outsmart by the fox for that trade. Mostly if it slings away from a major line it will head for the next major line on the daily often being the outside lines of the ranging area to make a U-turn. But towards the end of the "tunnel" it will often crash into one outer line to springload/stoploss/slingshot itself to the other side and breakout from there. Or like the previous range area of this pair it steps outside the top-line of the range and if still thirsty it will sling back with the collection box once more under it's arm to revisit some lines/gathering area's. It sits on the other side of the screen and sees our every move. "See" the fox and follow him not too close though. I trade SMALL when ranging. If the Fox tested a line several times it moves on it can't stay too long once most Dumb Money bulls and bears are cleaned and eaten it will move to the new killing line sometimes passing a few it is not interested in. Red news is also a happy zig-zag to kill during ranging and seems less during trending except for the NFP and during next level re-accumulation.
The side it will sling out of the ranging area towards the next major climax on the daily be it buying or selling is dependent on many factors and the more random part of Forex for retail traders. It is in nobodies full control but the lead role is for the MM's of course. I like the trending part with it's refueling levels (re-accumulating up to 9+ times but mostly 3x) the best for pyramids on the anchor trade and the BC or SC recognizable after PSY on the bull or PS (Preliminarily Support) on the bear side also relating to volume for the trained eye. But there is also a lot of money to be made in the daily ranging area (+/-70% of the time a pair will range). Remember the "ranging tunnel" can also be on a (slight) angle over time.
On the pair USDJPY it looks like heading towards the ST (Secondary Test) of the BC line but it can also U-turn at 124.500 to retest the AR line as a lot is going on there as well.
BE AWARE WHERE YOU ARE IN THE BIG PICTURE OF A PAIR IS MY MAIN MESSAGE
Happy Trading
For all just starting in Forex also keep an eye on the BIG picture of the daily. I've attached a chart of the USDJPY to show what I mean. As we can see the USDJPY pair is now ranging on the daily. It broke through the 120.741 level on the 20th of May and reached it Buying Climax (BC) on the 5th of June in the grey target area. After reaching the PSY (Preliminary Supply) till reaching the top of the BC candle the MM's offloaded (distributed) the truck to late DM (Dumb Money). Then as usual the AR (Automatic Rally) occurs to set the lower side of...
I trust that the surf is up!
What do you make of the HFT situation in relation to your suggested Daily-chart overview? I read an interesting article on HFT recently which made me wonder whether the Daily chart still has any value at all when HFT change the direction in nano-seconds.
Continued success to you.
Hercs
{quote} Hello Surf, I trust that the surf is up!
My view is the lower the time frame the bigger the influence of HFT. That's why those frames become harder and harder to trade.
The daily is still sort of an anchor point for Forex although if I look at certain pairs e.a. The Geppy (the beast) even the daily is hard to make sense of. HFT can really clutter the (naked) perspective towards ranging and trending times even on the daily timeframe so if I can make no sense of the daily
with what I've learned I don't trade. The Fox is definitely on the winning side with HFT.Green pips to you as well
- #1,911
- Jun 24, 2015 5:55am Jun 24, 2015 5:55am
Hello guys there are my closed trades since today morning ..... Reasons of my desisions are written on the images ... And i dont think that i have more to say to it its just so simple .. Thank you {image} {image}
Great trade, consist with your execution plan, thats really nice..
Green pips always..
-MJ
"Bulls make money, Bears make money, but hogs get slaughtered"
- #1,912
- Jun 24, 2015 6:00am Jun 24, 2015 6:00am
Why I short on GBP/USD {image} {image}
Here the one, GBPUSD Hunter..
Pro is Pro... hahahahaha, ciamik mate, your trade on GU always finish with great green pips. You are the one who most consistance with GU trade after Gupito. Im happy for you..
-MJ
"Bulls make money, Bears make money, but hogs get slaughtered"
- #1,914
- Jun 24, 2015 6:12am Jun 24, 2015 6:12am
USDJPY long trades closed
Im sorry guys, i have some thing to do with my job out there. But now im here with you,
Now my turn to show my progress with our PVSRA for today.
This is my "block-per block trade" with PVSRA on USDJPY..
The last block trade on USDJPY closed, total for today for all long position closed for gain +963.5 pips total
Happy green pips to all my PVSRA family;
Regards,
-MJ
Im sorry guys, i have some thing to do with my job out there. But now im here with you,
Now my turn to show my progress with our PVSRA for today.
This is my "block-per block trade" with PVSRA on USDJPY..
The last block trade on USDJPY closed, total for today for all long position closed for gain +963.5 pips total
Happy green pips to all my PVSRA family;
Regards,
-MJ
"Bulls make money, Bears make money, but hogs get slaughtered"
USDJPY long trades closed Im sorry guys, i have some thing to do with my job out there. But now im here with you, Now my turn to show my progress with our PVSRA for today. This is my "block-per block trade" with PVSRA on USDJPY.. The last block trade on USDJPY closed, total for today for all long position closed for gain +963.5 pips total
this is great! you are an artist
btw i closed my long order on u/j too
and closed my short on e/u based on petr.k style
enough trading for today, thank you dream-team!! now it's jym time
- #1,916
- Jun 24, 2015 9:12am Jun 24, 2015 9:12am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
UJ, M5 quick scalp +4.9 entered short on break of 124.250 key level with EMA as short term target/ support....
Keep It Simple
- #1,920
- Edited 5:44pm Jun 24, 2015 3:24pm | Edited 5:44pm
- | Joined Apr 2015 | Status: Trader | 4 Posts
Update on NZDUSD
Closed trade for 33 pips...Price got to $0.6900 handle and I noticed that there were sellers in this area. Seeing that the pair is in a strong downtrend and trying to pinpoint the bottom would be like catching falling daggers I decided to walk away from this trade.
The Trend Is My Friend Until It Bends!
I spy with my one good eye a bearish pennant on the AUDUSD. Usually this kind of pattern formation in a bearish market suggests a continuation of the current trend.
A PVA alert on the 15 minutes chart drew my attention to the $0.7700 handle. For me it pinpoints a lot of interest in this area.
Also, price is well below the 50 EMA on all the Timeframes signaling an intact downtrend.
I decided to short AUDUSD @ $0.7700 with a mental SL, and TP is @ $0.7100. I figured if price breaks below significant support @ $0.7600 there'll be no turning back But as always if price do consolidate in the $0.7600 area with any sign of reversal candlestick pattern, my backup is to grab 30-50 pips.
Will keep you posted!
Good luck trading and stay green.
Closed trade for 33 pips...Price got to $0.6900 handle and I noticed that there were sellers in this area. Seeing that the pair is in a strong downtrend and trying to pinpoint the bottom would be like catching falling daggers I decided to walk away from this trade.
The Trend Is My Friend Until It Bends!
I spy with my one good eye a bearish pennant on the AUDUSD. Usually this kind of pattern formation in a bearish market suggests a continuation of the current trend.
A PVA alert on the 15 minutes chart drew my attention to the $0.7700 handle. For me it pinpoints a lot of interest in this area.
Also, price is well below the 50 EMA on all the Timeframes signaling an intact downtrend.
I decided to short AUDUSD @ $0.7700 with a mental SL, and TP is @ $0.7100. I figured if price breaks below significant support @ $0.7600 there'll be no turning back
But as always if price do consolidate in the $0.7600 area with any sign of reversal candlestick pattern, my backup is to grab 30-50 pips.Will keep you posted!
Good luck trading and stay green.
