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Q A M Trading Strategy

  • #341
  • Mar 10, 2016 6:54pm Mar 10, 2016 6:54pm
Quoting Masterrmind
EURGBP [M1] Has anyone noticed where their SL would be placed with respect to the next resistance level? What SL are we applying on the EURGBP pair today? How many pips is it to the next resistance level ? What should we do? Maybe this chart will help. {image} Masterrmind...........
More on EURGBP [M1]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB


PA is showing an intent to move to higher levels!

Patience and understanding PA can easily save you from making a 'bad' entry.

If the entry is not clear cut then simply wait and monitor PA ... start looking for clues.

A major concern in taking a long cycle here is that our applied SL would hardly make it half way to the next resistance level so why trade it!

Masterrmind...........
Master your Mind then Master your Trades
  • #342
  • Mar 10, 2016 7:04pm Mar 10, 2016 7:04pm
Summary of major points so far:

1. EURCHF is going no-where so we cannot trade it (at the moment)

2. EURGBP is showing far too much risk (so we should not trade it at the moment)

3. So what should we do?

Masterrmind...........
Master your Mind then Master your Trades
  • #343
  • Mar 10, 2016 7:08pm Mar 10, 2016 7:08pm
What about the EURUSD? ...........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 73 KB


Masterrmind............
Master your Mind then Master your Trades
  • #344
  • Mar 10, 2016 7:10pm Mar 10, 2016 7:10pm
Quoting Masterrmind
What about the EURUSD? ........... {image} Masterrmind............
Imagine a SL of 30 pips for the EURUSD pair........

Are there any concerns about trading it?

If so what are they?

Masterrmind............
Master your Mind then Master your Trades
  • #345
  • Mar 10, 2016 7:15pm Mar 10, 2016 7:15pm
Quoting Masterrmind
{quote} Imagine a SL of 30 pips for the EURUSD pair........ Are there any concerns about trading it? If so what are they? Masterrmind............
Where will the stop go?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB


Why are the resistance levels so far away from current price?

Hint: How are they determined and what happened in yesterdays trading?

Masterrmind............
Master your Mind then Master your Trades
  • #346
  • Mar 10, 2016 7:19pm Mar 10, 2016 7:19pm
Meanwhile hows the EURGBP pair shaping up?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 77 KB


Masterrmind............
Master your Mind then Master your Trades
  • #347
  • Mar 10, 2016 7:29pm Mar 10, 2016 7:29pm
Quoting Masterrmind
Meanwhile hows the EURGBP pair shaping up? {image} Masterrmind............
Plenty of Euro and US news yesterday should be obvious.

So it looks like trading EURCHF, EURGBP OR EURUSD has an extra element of risk attached

1. large pip distances to resistance and support levels
2. big moves yesterday

So why don't we start looking at other pairs .........

How about AUDJPY as a first example?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 74 KB


1. whats the spread like?
2. SL consideration
3. PA so far and where is price in relation to DO line, S+R and pivot points?
4. any additional risk?

Masterrmind.............
Master your Mind then Master your Trades
  • #348
  • Mar 10, 2016 7:40pm Mar 10, 2016 7:40pm
Quoting Masterrmind
{quote} Plenty of Euro and US news yesterday should be obvious. So it looks like trading EURCHF, EURGBP OR EURUSD has an extra element of risk attached 1. large pip distances to resistance and support levels 2. big moves yesterday So why don't we start looking at other pairs ......... How about AUDJPY as a first example? {image} 1. whats the spread like? 2. SL consideration 3. PA so far and where is price in relation to DO line, S+R and pivot points? 4. any additional risk? Masterrmind.............
The AJ pair has a degree of risk because the next resistance level is too far away.

5 shorts have been entered though as an example to be discussed later especially concerning the pivot.

Masterrmind............
Master your Mind then Master your Trades
  • #349
  • Mar 10, 2016 8:04pm Mar 10, 2016 8:04pm
EURGBP [M1;200]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 76 KB


Identifying possible turning points in price ...........

Recognize that price may not always turn at these levels so always have a clear picture of all associated risk.

Masterrmind............
Master your Mind then Master your Trades
  • #350
  • Mar 10, 2016 8:07pm Mar 10, 2016 8:07pm
Quoting Masterrmind
{quote} Plenty of Euro and US news yesterday should be obvious. So it looks like trading EURCHF, EURGBP OR EURUSD has an extra element of risk attached 1. large pip distances to resistance and support levels 2. big moves yesterday So why don't we start looking at other pairs ......... How about AUDJPY as a first example? {image} 1. whats the spread like? 2. SL consideration 3. PA so far and where is price in relation to DO line, S+R and pivot points? 4. any additional risk? Masterrmind.............
AUDJPY [M1; 200 - manual]

Current situation ..........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 87 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #351
  • Mar 10, 2016 8:31pm Mar 10, 2016 8:31pm
Quoting Masterrmind
{quote} AUDJPY [M1; 200 - manual] Current situation .......... {image} Masterrmind...........
AUDJPY [M1; 200 - manual]

Following PA ..........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 88 KB


Masterrmind.............
Master your Mind then Master your Trades
  • #352
  • Edited 8:59pm Mar 10, 2016 8:40pm | Edited 8:59pm
Quoting Masterrmind
EURGBP [M1;200] {image} Identifying possible turning points in price ........... Recognize that price may not always turn at these levels so always have a clear picture of all associated risk. Masterrmind............
EURUSD [M1; 200]

Identifying possible turning points through PA that provide clues ......

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 72 KB


Being aware of these levels are important in estimating where Quantum boxes might stop being printed!

Masterrmind............
Master your Mind then Master your Trades
  • #353
  • Mar 10, 2016 8:41pm Mar 10, 2016 8:41pm
AH those directional trendlines are a nice addition to chart MM. reminds me of weinsteins stages ...
  • #354
  • Mar 10, 2016 9:07pm Mar 10, 2016 9:07pm
AUDJPY [M1; 200 - manual]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 85 KB


Bulls having another go at pushing price higher!

Masterrmind...........
Master your Mind then Master your Trades
  • #355
  • Mar 10, 2016 9:10pm Mar 10, 2016 9:10pm
Quoting starpro
AH those directional trendlines are a nice addition to chart MM. reminds me of weinsteins stages ...
Yes its all about following the flow of price across the chart and identifying the clues.

Do you see an issue with the AJ shorts?

Masterrmind...........
Master your Mind then Master your Trades
  • #356
  • Mar 10, 2016 9:14pm Mar 10, 2016 9:14pm
only that solid resistance is around 85.000 fair way away

Im annoyed I saw 84.650 as solid s/r line going back cpla days

and u entered right on support ....
  • #357
  • Mar 10, 2016 9:31pm Mar 10, 2016 9:31pm
Quoting starpro
only that solid resistance is around 85.000 fair way away Im annoyed I saw 84.650 as solid s/r line going back cpla days and u entered right on support ....
Fantastic!

Look at this chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 84 KB


Is it any wonder then that the AJ shorts got taken out?
I think not!

It pays to identify all your support and resistance levels, pivot points, news influence and PA before ever thinking about entering a cycle of trades.

Common sense really but its often neglected which results in a high degree of pain most of the time!

Masterrmind............
Master your Mind then Master your Trades
  • #358
  • Mar 10, 2016 9:33pm Mar 10, 2016 9:33pm
AUDJPY [M1; 200 - manual]

Price is rocketing up to test the 85.000 level....

What should we do?

Masterrmind............. :nerd:
Master your Mind then Master your Trades
  • #359
  • Mar 10, 2016 9:33pm Mar 10, 2016 9:33pm
@Masterrmind Your charts and teachings are pure gold !!!
  • #360
  • Mar 10, 2016 9:37pm Mar 10, 2016 9:37pm
yeh and why cant one admit defeat and SEE the break of the 1st reistance at 84.640? thats what annoys me the most ....
this is where the quantum boxes let trader down, makes you look for shorts , somehow need to ignore if the trend is obviously UP
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