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Prez Forex (pres78) Trading Journal

  • #101
  • Dec 16, 2015 12:03pm Dec 16, 2015 12:03pm
Quoting Darastonius
Hi KinsaleForex, I was always interested in using P&F charts for target price projections, but didn't really find materials about the calculations. Are there any threads, books or videos I can start with? Thank you very much in advance.
Threads and videos are few and far between, there are a couple here on FF but not the most active. I'd really recommend two books. The Definitive Guide to Point and Figure Charting and The Complete Guide to Point and Figure charting. The latter is a lot more palatable for someone who's new to it.
  • #102
  • Dec 16, 2015 12:05pm Dec 16, 2015 12:05pm
Quoting pres78
{quote} All I know is I am already drooling about the new zones being formed today for trading in the days to come. It's weird how excited this makes me ... I can almost smell the money these zones are going to make me!
Highest volume on a 1hr EURUSD zone since Dec 3rd. Love it.
Today's zone = Tomorrow's opportunity!
  • #103
  • Dec 16, 2015 12:23pm Dec 16, 2015 12:23pm
Quoting pres78
{quote} Highest volume on a 1hr EURUSD zone since Dec 3rd. Love it.
...and straight back down, let's see what it does at that high again!
  • #104
  • Dec 16, 2015 12:29pm Dec 16, 2015 12:29pm
Quoting KinsaleForex
{quote} ...and straight back down, let's see what it does at that high again!
For me now it's all about LO tomorrow and where we are compared to today's zones (plural across the pairs I trade). Between now and then my charts are closed (well I will check things at the end of the day to manage any higher TF stuff, but as far as intraday trades I am flat across the board).
Today's zone = Tomorrow's opportunity!
  • #105
  • Dec 17, 2015 2:54am Dec 17, 2015 2:54am
Quick EA HVC trade in the morning, I went for 1:1 RR only.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM15.png Size: 75 KB
Price and volume reveals everything. The market moves on supply and demand.
  • #106
  • Dec 17, 2015 5:22am Dec 17, 2015 5:22am
Quoting Darastonius
Quick EA HVC trade in the morning, I went for 1:1 RR only. {image}
Nice simple trade.
Today's zone = Tomorrow's opportunity!
  • #107
  • Dec 17, 2015 5:23am Dec 17, 2015 5:23am
EURUSD, watching to see if a short set up forms around 1.084...

Man I miss my real charts...
Today's zone = Tomorrow's opportunity!
  • #108
  • Edited 5:57am Dec 17, 2015 5:46am | Edited 5:57am
EURUSD pending short set at 1.0835, last 5 min closed as a NBP.

See if this triggers shortly.

Edit - trade killed, waiting.
Today's zone = Tomorrow's opportunity!
  • #109
  • Dec 17, 2015 6:11am Dec 17, 2015 6:11am
Short at 1.0858, looking first for 1.0840.

SL 1.0867, TP 1 as noted 1.0840 for 2:1.
Today's zone = Tomorrow's opportunity!
  • #110
  • Edited 6:59am Dec 17, 2015 6:34am | Edited 6:59am
Quoting pres78
Short at 1.0858, looking first for 1.0840. SL 1.0867, TP 1 as noted 1.0840 for 2:1.
Closed half for 2:1, rest at BE . A break and re-test of 1.0840 is needed by the bears.

Edit - stopped out on balance at BE.
Today's zone = Tomorrow's opportunity!
  • #111
  • Dec 17, 2015 7:15am Dec 17, 2015 7:15am
EURAUD currently pushing above yesterday's zone high.

Check out the nice clean swap at 50% on the 5 min chart. Peak above, close at 50%, dip below, close above 50%. Nice clean PA at that level. Clear sign that we weren't going to see a rejection and therefore were heading towards at least the high.
Today's zone = Tomorrow's opportunity!
  • #112
  • Dec 17, 2015 7:48am Dec 17, 2015 7:48am
Missed this one, it is still going. Or is it a problem that price was grinding around the NS, making it invalid from a VZA standpoint?

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 57 KB
Price and volume reveals everything. The market moves on supply and demand.
  • #113
  • Dec 17, 2015 7:51am Dec 17, 2015 7:51am
Quoting pres78
{quote} In general if you draw your 1hr highest volume zone for the previous day, and then you drop down to say the 15 min chart and see that most of that volume was in only 1 or 2 of those candles on the 15 min, do you adjust the zone on 15 min for only that area? No. I do at times though mark the highest 15 minute bar within the 1hr zone a different color fib. What I like to see is when say the 1hr zone low is also the highest 15 minute volume bar low... This adds strength to a level for me to see that confluence. At times this will also tell...
For anyone interesting looking more at the item discussed above take a look at your Oil chart (not Brent), mine is WTI...

1hr zone from yesterday. LO we push below the low. 2hrs later a killer ND touches the zone low, closes below the zone low but we continue up instead of going down. The low was never taken out so no trade would have triggered (thus that rule)...

See where price ended up reversing from?

Based on the 1hr zone it shows as a rejection from the 50%. Drop down and put a fib on the highest volume 15 min bar that made up yesterday's 1hr zone. You will see that it was the first bar of that hour and was basically in the top half of the hourly zone.

We tagged the 50% of that 15min bar which was around 12 cents above the 50% of the 1hr zone.

For me this creates a nice little pocket that I am looking to short from rather than the low (especially after the low failed to produce a triggered entry).

That said had the highest 15 minute volume printed with the lower 50% and in turn the low of both the 1hr and 15min zones were the same then that would have been the more likely place to see the sellers step in.

Hope that makes sense without a chart... ARGH!!!
Today's zone = Tomorrow's opportunity!
  • #114
  • Dec 17, 2015 7:58am Dec 17, 2015 7:58am
Quoting Darastonius
Missed this one, it is still going. Or is it a problem that price was grinding around the NS, making it invalid from a VZA standpoint? {image}
VZA is just the locations, how you enter is based on your trade plan. If it's based on VSA then after you get your NS in the right location and set your pending at the high and it triggers within 2 bars that's all you can do. If it grinds around before taking off that has nothing to do with taking the entry (as we don't know when we take the trade if it's going to rocket off or take forever).

That NS would have trigger on the very next bar so you would have been in suffered a small drawdown before the trade moved away. At that point it's all about how well you placed your SL (had you take the trade).
Today's zone = Tomorrow's opportunity!
  • #115
  • Dec 17, 2015 8:03am Dec 17, 2015 8:03am
Quoting pres78
{quote} For anyone interesting looking more at the item discussed above take a look at your Oil chart (not Brent), mine is WTI... 1hr zone from yesterday. LO we push below the low. 2hrs later a killer ND touches the zone low, closes below the zone low but we continue up instead of going down. The low was never taken out so no trade would have triggered (thus that rule)... See where price ended up reversing from? Based on the 1hr zone it shows as a rejection from the 50%. Drop down and put a fib on the highest volume 15 min bar that made up yesterday's...

Damn, that's nice
  • #116
  • Dec 17, 2015 8:19am Dec 17, 2015 8:19am
How did everyone like the rejection from 1.84? Down over 20 pips already.

A roadmap to ride the SM coattails... Do we really need anything more than that?

The clues are there, the levels are there. They can hide many things but they can't hide their activity.

It's up to us however to interpret it correctly (they give us clues on that also), the rest as they say is a piece of cake!
Today's zone = Tomorrow's opportunity!
  • #117
  • Dec 17, 2015 8:44am Dec 17, 2015 8:44am
Quoting HiddenGap
{quote}
Hey HG,

How do you like the WRB hidden gap EURUSD is closing in on? 1.0788ish is the high of the hidden gap... she's a wide gap (close to 200 pips).

The 1hr hidden gap has the same high and is around 100 pips wide... ADR on EURUSD is around 100 pips, let me see 3 carry the 4, divided by 26 = makes sense to me ...

What are the big boys going to do when they get to all that free space ...
Today's zone = Tomorrow's opportunity!
  • #118
  • Dec 17, 2015 8:58am Dec 17, 2015 8:58am
Did FF start charging for memberships? I guess getting a FREE membership is too rich for some people ...
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 33 KB
Today's zone = Tomorrow's opportunity!
  • #119
  • Dec 17, 2015 9:02am Dec 17, 2015 9:02am
EURAUD, pending short at 5205 5211.
Today's zone = Tomorrow's opportunity!
  • #120
  • Dec 17, 2015 9:15am Dec 17, 2015 9:15am
Quoting pres78
How did everyone like the rejection from 1.84? Down over 20 pips already. A roadmap to ride the SM coattails... Do we really need anything more than that? The clues are there, the levels are there. They can hide many things but they can't hide their activity. It's up to us however to interpret it correctly (they give us clues on that also), the rest as they say is a piece of cake!
This has been very helpful and enlightening.
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