Prez Forex (pres78) Trading Journal

A VZA trade on AUD futures I took yesterday. The first two screenshots were taken before the trade was completed. I took the trade on 2-minute chart. The trade eventually made an R/R of 3:1.

Did a trade yesterday that yielded around 1:1.2. EURJPY.
I didnt use the highest volume of the prior day but the highest that was closest to the range at LO. Is that something you would suggest against Pres?

Nice to have others sharing their charts and experiences also. Great stuff guys!

Took a EURUSD long 3hrs after LO (around 7AM my time) on my phone while waiting for my wife to get in the car to head for work. 30 min chart shows it perfectly. Support found at 50% of yesterday's zone after we had seen a nice move away from the zone H overnight. The bar that closed the 3rd hour of the London session completed a nice pres78 2BR.

Entry was at market 1.07355. SL 1.07243 (11.2 pips). Thus far trade has hit a little better than 2:1 and I just closed half now for around 1.5:1. Will let the rest run a bit fully exposed for a worst case of a small net gain.

Very interesting that the hour before LO is the highest volume zone of the day and not LO itself. Also the volume spike and wide spread up bar 4 hours into the new day is intriguing.

​Nice stuff pooh, 3:1 return is nothing to sneeze at! I love to see others using and profiting from the zones...

Stopped out on the news spike down...

Hello Gav,

I cannot comment as it's not something I have studied extensively enough. I'd be interested in seeing your findings on it however if you do any back or forward testing on it.

Nice trade either way.

I owe this to you Pres. I cannot thank you enough for teaching us VZA !

Cheers Pres!

Pres, can you tell us a little about when you start to disregard the previous days HVB and use the LO (or todays highest vol. 1hr bar)?

Like today for example. Because of the high impact payroll news does that mean you simply choose the new 1hr HVB instead of yesterdays or is it more subtle than that?

That's strange... where did my post go? Must have deleted it when I was trying to edit it ...

Anyway I took a EURUSD scalp short. Entry was 1.0743 but I just closed it as I just noticed something that kept me more on the bulls side for now.

Edit - VSAgav, this might answer some of your questions about yesterday's zone versus today's zone... I will clarify more later and describe in a bit more detail about using the LO and NYO zones but for now just look at EURUSD 1hr chart. Put on yesterday's zone and today's zone and see where we just bounced from. See that shared level created on the BO of yesterday's zone H... I've talked about these before how MANY times we see new zones print their 50% on the previous zones H or L when breaking out on UHV...

I had today's zone on, had deleted yesterday's zone (by accident - I NEVER DELETE YESTERDAY'S ZONE UNTIL THE DAY CLOSES) and started to take a short but quickly saw that was a mistake. We bounced right in that little 3 pip zones between the two levels. The zones keep us on the right side if we let them ...

So what did I do when I saw I was wrong? I corrected myself and entered long off a 5 min NS right in that little 3 pip zone.

Closed half at 1:1, SL being trailed by my EA currently sitting locked in at 1:1 as price has hit 2:1 thus far at it's highest point. Entry as shown (1.07475), TP set for 5:1 (but being trailed at 2: behind), SL was at 1.07407.

Second half stopped out at 1:1. As I have noted we need to consider the H or L as possible R or S when taking trades from the 50% (especially with no previous clear break). As you could see I could get my 1:1 before the H so I took the trade knowing it's possible limitations.

Yes the bounce was from yesterday's high but we also have to be aware of today's controlling volume (which we are inside of).

FOMC statement released around 10 minutes ago and look at EURUSD flying upward. So today we got the news spike down into the L of yesterday's zone but NEVER really closed below the 50% hinge point (nothing sustained anyway). Pushed above the H of that zone and created a new zone and then came back down and tested the H of yesterday's zone and made yet another new zone. The next hour we closed back above the 50% and then take a look at the PA at the 50% of today's zone. Even if you drop down to a 1 minute chart you will find only 1 bar that closed below the 50% level and we closed back above on the very next bar. 5 min to 1 hr not a single close below. Series of ACC along that level and BOOM up we go at FOMC statement time. You can see how the volume starts to increase on the last two 30 minute bars before the FOMC statement.

Beautiful.

Next step is to see if this is real buying (if we get a test and hold of recently broken zone H or if it's a suckers mark up to fill sells. Time and the zones will tell.

Looks like FOMC is going to give us our zone for tomorrow on EURUSD... thank you very much

​Another day another EURUSD zone trade at LO... zone H taken out over night, return to 50% at LO buyers support and we go long.

Beauty

Yeah I saw that too although I couldnt find an entry like a NS. But it touched perfectly and didnt close below on the 5min at all.
How/where did you get long?

I don't know if it's legal, but I saw a NS on the 1min chart.

​I went long after that mini SO / reverse UT type bar. First yellow box was a test which sort of failed (2 bars later we get a slight close below the low of the test, 0.4 pips below) but the next bar was up. That up bar I mention was a ND but the low was never taken out nor even tested. No close below 50% on ANY TF including the 1 min chart. Then we got that bar that printed 40 mins after LO (which I was fortunate enough to be awake for today ​) so all that added up and knowing I could use a 10 pip SL to get below the lowest low and hit 2:1 just by returning back to the zone H I pulled the triggered. Turned on my EA and it trailed me up to a stop out at 7:1 after hitting a high of 9:1.

For what it's worth one could have also went long at the close of the first LO hourly bar as it completed a lovely pres78 2BR into the 50% level and closed back above the zone H.

For those who wanted to be a bit safer and waited for a break and re-test of the zone H, unfortunately today that did not yield an entry. Sometimes the markets just leave without us and even the charts that respected the levels don't always give us an entry that we feel comfortable taking. This is when we need to trust ourselves and our trade plans and sit aside until we get something that makes sense to us.

What I would also like you to notice is that today the LO bar was not the highest volume bar of the day when it printed, the hour before LO was higher volume but again not even this was the highest volume zone for the day. Take a look at that odd volume spike on the 4th hourly bar of the new day during the Asian session (well if you use NYC charts). What I would like to first point out is how the low of that bar is right around the 50% of yesterday's zone. On the 15 min and up charts we never got a close even below that zone low from today. That is showing us a lot of support at this shared level of zone confluence. Now the mid of what was today's zone was a bit too far away from yesterday's zone high (5 pips) to say they were in confluence but as you can see it's close enough to recognize that it once again is showing those characteristics of a increased volume break bar when we see the 50% align with the H or L of the broken out of zone.

In fact if you want to see just how cool these levels really work have your zone from yesterday and put a zone onto that Asian session bar from today, drop to a 5 minute chart and watch how the PA unfolds that hour before LO. See how it moves between and respects the levels as it goes. Obviously now today the second hour of the London session is today's zone but when London opened that was not the case. Just take the time to check out that PA for the hour before and the first hour of LO and see how you might have made an entry (or why you may have decided not to). I think the one thing most would agree on is we had two options today at and after LO. Go long or stay out. Shorts were never on the cards.

Now for those with balls of steel who didn't get in at the 50% of yesterday's zone and who did want to trade that killer pres78 2BR and again those who maybe wanted that test into the zone H but never got it (because price consolidated under the level before breaking it rather than a break and consolidation) drop down to a 1 min chart and check out the PA above the H of that Asian session bar from today. 2 NS's to choose from ..​.

Sorry for such a long winded reply...

Firstly, happy new year all, hope everyone had a good xmas and new year! I'm not one for resolutions but like Steve, i'm going to try and post a lot more.

Following on from the quoted post, the upside target is still valid and the price action has been interesting since then. For me, the SM are really testing this area. I've explained more on the chart itself. Two ifs. 1. Whether we break the high of this zone. 2. Whether we break 1.100 and buck the trend of lower highs.

Will be interested to see how the rest of today plays out as right now the EURUSD bulls seems to be losing steam. Right now the key area the bulls need to take out and hold is 1.0863 to 1.0869... Without an increased effort push through this area I suspect we are seeing a cap on price for now at least. With no more scheduled high impact news today I would be very surprised if we take out that area today (and we've hit the ADR also).

As Liam pointed out we are kind of still moving sideways on the Daily chart but have seen a LH and a LL making the overall structure more biased to the downside longer term.

Time (and the zones) will tell.