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Prez Forex (pres78) Trading Journal

  • #501
  • Feb 1, 2016 8:45am Feb 1, 2016 8:45am
Quoting pres78
EURUSD 15 min ND pending short set. ND is into the Friday VZL (which for me is the Asia session SO looking bar) which was on higher volume than the bar down at the low of the day. As you can see both zones from Friday are playing a role today. Check out the Asia PA as we found support at the 50% and H of that second Friday zone. ​Edit - pending killed.
The SM must've heard you on that one...
  • #502
  • Feb 1, 2016 8:50am Feb 1, 2016 8:50am
Quoting KinsaleForex
{quote} The SM must've heard you on that one...


I should've known better anyway Liam... been a rough day on the currencies with 0 trades I've really liked so far (a few pending's but all have been killed). Only active trades today are some crude oil shorts.

I keep saying this but also keep opening my platform... I really hate trading Monday's as of late.
Today's zone = Tomorrow's opportunity!
  • #503
  • Feb 2, 2016 8:48am Feb 2, 2016 8:48am
GBPUSD has moved beautifully today respecting the zones / levels. I am recently in a long off a pres78 2BR (type 2 - decreased volume bar 1) into the shared level H from YVZ and 50% of TVZ.
Today's zone = Tomorrow's opportunity!
  • #504
  • Edited 9:26am Feb 2, 2016 9:19am | Edited 9:26am
GU long Stopped out but guys pres78 2BR is more than reversal it also includes timing built in. trade 5 times today and price rockets after .
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Think Twice Low Volume is Key to Success
  • #505
  • Feb 2, 2016 9:22am Feb 2, 2016 9:22am
Quoting classix
GU long Stopped out but guys pres78 2BR is more than reversal it also includes timing built in. trade 5 times today and price rockets after . {image} {image}
​Care to share also the 5 other examples of the pres78 2BR's that you've traded today so others can see and learn?
Today's zone = Tomorrow's opportunity!
  • #506
  • Feb 2, 2016 9:32am Feb 2, 2016 9:32am
Quoting pres78
{quote} ​Care to share also the 5 other examples of the pres78 2BR's that you've traded today so others can see and learn?
yes updated previous post. this two bar pattern is in two flavors where 2nd bars is quick test type bar (am i right ?)one is high volume shakeout followed by immediate test and 2nd is lack of supply marked down and but closed up successful test. as you always said we should look on right place or zone level.lack of patience and hungry to take profits.
Attached Image(s) (click to enlarge)
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Think Twice Low Volume is Key to Success
  • #507
  • Feb 2, 2016 9:41am Feb 2, 2016 9:41am
Quoting classix
{quote} yes updated previous post. this two bar pattern is in two flavors where 2nd bars is quick test type bar (am i right ?)one is high volume shakeout followed by immediate test and 2nd is lack of supply marked down and but closed up successful test. as you always said we should look on right place or zone level.
​Were those all taken off the 1 minute chart? I don't see any of those as being pres78 2BR's as none of them make LL on the second bar (or I am missing something).

Yes by making the LL or HH the second bar is testing.

Correct I am looking at having 2 different pres78 2BR's... one a increased volume bar 1 and the other a decreasing volume bar 1. Other rules remain the same, must make L or HH, must close above or below 50% of bar 1 etc...

Yes as with any entries these MUST be at the right place.
Today's zone = Tomorrow's opportunity!
  • #508
  • Feb 2, 2016 9:47am Feb 2, 2016 9:47am
Quoting pres78
GBPUSD has moved beautifully today respecting the zones / levels. I am recently in a long off a pres78 2BR (type 2 - decreased volume bar 1) into the shared level H from YVZ and 50% of TVZ.
​Not looking like this trade is going to work out. Started off the right direction but now heading back the wrong way. I will let it run though until completion as I am not a trade tinkerer ..​.
Today's zone = Tomorrow's opportunity!
  • #509
  • Feb 2, 2016 10:38am Feb 2, 2016 10:38am
5 min Pres 2br on crude buy
Learn THEN Unlearn
  • #510
  • Feb 2, 2016 10:44am Feb 2, 2016 10:44am
Quoting HighFivve
5 min Pres 2br on crude buy
​Where and when? What zone / level did it form on?
Today's zone = Tomorrow's opportunity!
  • #511
  • Feb 2, 2016 10:50am Feb 2, 2016 10:50am
Quoting pres78
{quote} ​Where and when? What zone / level did it form on?
H of z 3 hours ago .. Sorry using phone so no pic ..thanks pres
Learn THEN Unlearn
  • #512
  • Feb 2, 2016 10:52am Feb 2, 2016 10:52am
Quoting HighFivve
{quote} H of z 3 hours ago .. Sorry using phone so no pic ..thanks pres
​Ah ok. Volume must be a tad different on your chart compared to mine as I don't have any pres78 2BR's into the H of that zone (today's highest volume zone).
Today's zone = Tomorrow's opportunity!
  • #513
  • Feb 2, 2016 11:00am Feb 2, 2016 11:00am
GBPUSD chance to scalp today's zone after again finding support at YVZH. 15 min NS (or close enough anyway, volume just a touch higher than the previous bar but still low overall) into 50% of TVZ, with correct SL one could grab 2:1 with a return to TVZH. Pending long set with a SL to assure 2:1 return on this scalp IF triggered.
Today's zone = Tomorrow's opportunity!
  • #514
  • Edited 4:45am Feb 3, 2016 2:43am | Edited 4:45am
Quoting pres78
{quote} ​Were those all taken off the 1 minute chart? I don't see any of those as being pres78 2BR's as none of them make LL on the second bar (or I am missing something). Yes by making the LL or HH the second bar is testing. Correct I am looking at having 2 different pres78 2BR's... one a increased volume bar 1 and the other a decreasing volume bar 1. Other rules remain the same, must make L or HH, must close above or below 50% of bar 1 etc... Yes as with any entries these MUST be at the right place.
yes those all on 1 min entries. thanks for correction forget some rules in excitement lower low and close above 50% may b i was looking 5min not sure. took todays trade lets see how it plays out.

EDIT : Tp hit and still rising almost 70 pips
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Think Twice Low Volume is Key to Success
  • #515
  • Feb 3, 2016 7:25am Feb 3, 2016 7:25am
I too took a GBPUSD long. Started as a scalp back to the zone H but has taken off. Currently locked in at 6:1. Entry was 4400, SL 4385. 15 min NS into YVZ 50% after having taken out the high. This was the last 15 min bar of LO first hour which gave a close above the 50% and was on the hourly chart an increased volume down bar. The fact it closed with a NS was enough for me to expect a return to at least the H.

​Edit - now locked in for 7:1
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Today's zone = Tomorrow's opportunity!
  • #516
  • Feb 3, 2016 8:37am Feb 3, 2016 8:37am
GBP USD 5 min NS/test into the H of TVZ. We've already moved up so much today (well over ADR) that I'd be nervous to take a long at this point (not much room back to the days high) but it sure looks like the sellers still aren't very interested at this point.
Today's zone = Tomorrow's opportunity!
  • #517
  • Feb 3, 2016 8:45am Feb 3, 2016 8:45am
Hi Pres
I managed to catch the GU at THVZ. 5m NS, and little confirmed test, testing the H.
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And also an EC short on 15m under the L of YHVC. I probably should have waited for LO to complete but it looked good.
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Both have done ok!
Volume at Volume
  • #518
  • Feb 3, 2016 8:54am Feb 3, 2016 8:54am
Quoting VSAgav
Hi Pres I managed to catch the GU at THVZ. 5m NS, and little confirmed test, testing the H. {image} And also an EC short on 15m under the L of YHVC. I probably should have waited for LO to complete but it looked good. {image} Both have done ok!
Notice on that EC trade how LO bar 50% was pretty close to the L of YVZ. That classic old breakout where we see the shared levels. It also shows a great thing to note. We get that LO surge and then return back to the shared 50%/L level and never close back above the 50% of the LO zone. That is a great SOW that shows lower prices are in order once the SM are done filling their sells.

Even GBPUSD, look at the break out bar. 50% of what was TVZ shared at the H of YVZ. We never got back down to test this shared level as price immediately broke and tested the H of that new zone (which you traded).
Today's zone = Tomorrow's opportunity!
  • #519
  • Feb 3, 2016 8:59am Feb 3, 2016 8:59am
Anyone catch this one?

Reasons why you wouldn't have taken it?

The red zone was today's HVZ at the time. This has since been eclipsed by the last hour which just ticked over.
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  • #520
  • Feb 3, 2016 9:01am Feb 3, 2016 9:01am
Pres - quick question around something I think you've covered before so sorry if this is a little repetitive!;
In the NY session I find my charts get a little busy. I usually by this point have YHVC, LOHVC, a THVC (if its higher than LO) and then you also the target HVCs at around ADR (as per the plan you outline in post #1). So it can start looking a bit busy (as per chart example below).
Am I right in saying that you can take LOHVC off assuming there is a higher volume THVC and if LO and NYO overlap YHVC then you can remove them too?
I know I don't want to remove YHVC at all and THVC as well so its really just the others Im concerned about.
Or is there a simpler rule I can follow?

Attached Image (click to enlarge)
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Volume at Volume
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