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  • #101
  • Apr 7, 2016 2:20am Apr 7, 2016 2:20am
GU

confirmed that big cash was shorting this all along was self evident from the price action did you notice around the European open that they allowed the pair to drift upwards 30 to 40 pips this is to lure in all the retail long trades.

There is a saying for this and its called:

The Pump before the Dump.

Worked beautifully at least until London lunch this pair isn't coming back in my opinion.

Simon
99% of Traders fail, so don't follow the herd
  • #102
  • Apr 7, 2016 2:25am Apr 7, 2016 2:25am
Quoting fxlan
I can see why the levels are important - they are origins where institutions started selling. But why exactly 1.922 and 1.903? Or it doesnt actually matter if its 10 or 20 pips higher or lower since you are waiting for the price to come here, move down, retest and then you sell? {image}
its a very simple strategy in that these are the laws of buyers and sellers, the origin and forcefulness of the move is where the cash is waiting for the retest or to push through to the next block, now do you always take the retest absolutely not, cause why would you do that, 50% of the time you'll get killed.

What I am trying to do is detect those levels that the very few in the market trade at, then when the market revisits these levels determine the type of trade I need, sometimes it will hold and you can get in on the retest, sometimes it breaks and you can run stop orders once its in clear air.

My strategy ignores what the herd of retail do and concentrate on what big cash does and trading use their strategy of moving price to different blocks of orders against them. 12 years down the line now as a pro fx trader and it has failed me yet.

Simon
99% of Traders fail, so don't follow the herd
  • #103
  • Apr 7, 2016 2:32am Apr 7, 2016 2:32am
GJ

this pair has fallen off a cliff today, this is a really good example that the only one in the market selling yen were the BOJ for quite sometime looking at that fall.
220 pips in one days and counting even for this pair is a cliff dive of big measure.

Its only when the tide goes out or in this case the BOJ stops selling you can see all the naked swimmers and there is only one and that's the BOJ

Simon
99% of Traders fail, so don't follow the herd
  • #104
  • Apr 7, 2016 2:34am Apr 7, 2016 2:34am
EJ

30 pips to go for the first big level

approach and reaction key to the next move.

Simon
99% of Traders fail, so don't follow the herd
  • #105
  • Apr 7, 2016 2:39am Apr 7, 2016 2:39am
Quoting sweetaction
EJ 30 pips to go for the first big level approach and reaction key to the next move. Simon
Good morning Simon,

Almost night for you. Yes you are true when you said the levels were here there and everywhere. I am still absorbing your approach. Will go over first few pages again and come back to you.
  • #106
  • Apr 7, 2016 2:39am Apr 7, 2016 2:39am
GU

14000 is on the radar for today, narrowly missed it yesterday, market wont miss today

Its like a super model seems unobtainable but you just need to go and talk with her.

market gunning for this, every little push up and slapped hard with another bunch of sells big cash in command here.

There is no level there is pure psychology of the market, at big round numbers there is always orders

Simon
99% of Traders fail, so don't follow the herd
  • #107
  • Apr 7, 2016 2:41am Apr 7, 2016 2:41am
Quoting workingforex
{quote} Good morning Simon, Almost night for you. Yes you are true when you said the levels were here there and everywhere. I am still absorbing your approach. Will go over first few pages again and come back to you.
Good Evening to you

all good as we progress you will see it makes perfect sense something all those indicator systems do not

I will do a video in a few hours that will help

Simon
99% of Traders fail, so don't follow the herd
  • #108
  • Apr 7, 2016 2:44am Apr 7, 2016 2:44am
EJ

Can slip down to 12365, lot of buyers here that thing approached hard takes serious cash to pull that up

Lets see how it plays but slippage through to mid 123.60 ish is not a failure of this level yet.

Simon
99% of Traders fail, so don't follow the herd
  • #109
  • Apr 7, 2016 2:51am Apr 7, 2016 2:51am
Quoting sweetaction
{quote} Good Evening to you all good as we progress you will see it makes perfect sense something all those indicator systems do not I will do a video in a few hours that will help Simon
Yes I am sure. I will try and come back with question and probably there are many who are just reading it all quietly, so will be great help to us all

Meanwhile GJ is in a free fall, don't see any levels in GJ at the min, won't want to stand in front of this because if we are looking at GU at 1.39xx and UJ at 106.xx then GJ will be 1.47xx. What do you see on Chart on GJ now, 150.40 a level ?
  • #110
  • Apr 7, 2016 2:54am Apr 7, 2016 2:54am
Quoting workingforex
{quote} Yes I am sure. I will try and come back with question and probably there are many who are just reading it all quietly, so will be great help to us all Meanwhile GJ is in a free fall, don't see any levels in GJ at the min, won't want to stand in front of this because if we are looking at GU at 1.39xx and UJ at 106.xx then GJ will be 1.47xx. What do you see on Chart on GJ now, 150.40 a level ?
I dont see anything for GJ
clear air, more selling
15060 looks the next but its not impressive at all
99% of Traders fail, so don't follow the herd
  • #111
  • Apr 7, 2016 2:58am Apr 7, 2016 2:58am
EJ

Retail traders being used by the big guys only 60% of retail is currently short, thats a lot of longs being soaked up and baked in, The shorts are winning this

Simon
99% of Traders fail, so don't follow the herd
  • #112
  • Apr 7, 2016 4:09am Apr 7, 2016 4:09am
Morning
UJ where are the buyers, they gone
Time for practice "patience skill" waiting for buyers appear.
I dont see buyers on the left there are a big gap.
What do you think Simon?
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  • #113
  • Apr 7, 2016 4:13am Apr 7, 2016 4:13am
Quoting seahorse
UJ where are the buyers, they gone
not yet for UJ I have two levels

108.12
106.04

wait for reaction, see how much buying we have

Simon
99% of Traders fail, so don't follow the herd
  • #114
  • Apr 7, 2016 4:20am Apr 7, 2016 4:20am
Here is my video, not the best I admit but hey I am trader not a filmmaker

Inserted Video


Simon
99% of Traders fail, so don't follow the herd
  • #115
  • Edited 4:34am Apr 7, 2016 4:23am | Edited 4:34am
Quoting sweetaction
{quote} not yet for UJ I have two levels 108.12 106.04 wait for reaction, see how much buying we have Simon
I see the 108 strong one

Simon, you rock man thanks


EDIT: And thanks for the video
  • #116
  • Apr 7, 2016 4:44am Apr 7, 2016 4:44am
EJ
The moment of truth arrives now

Simon
99% of Traders fail, so don't follow the herd
  • #117
  • Apr 7, 2016 4:54am Apr 7, 2016 4:54am
Quoting sweetaction
EJ The moment of truth arrives now Simon
Yep, I think it will accumulate now.
We have unemployment claims and Yellen speaks.

Will move for sure


EDIT: Sorry, I´m referring to UJ
  • #118
  • Apr 7, 2016 5:00am Apr 7, 2016 5:00am
EJ

So far there is a nice bit of respect for EJ at 123.15 only been to 123.12 that's pretty much bang on in my book, retrace 30 pips so far, not bad considering how much yen buying we have see for hours now.

Wait for the pullback need to see the strength of this as well and what price action is doing

Here is a fun task to do while we wait pull up the 1h EJ chart and can anybody give me an indicator that says buy now

52% of the retail traders are short this pair now, i mean do these guys own charts

Simon
99% of Traders fail, so don't follow the herd
  • #119
  • Apr 7, 2016 5:02am Apr 7, 2016 5:02am
Hi Simon, thanks for the video and the time and effort you are sacrificing to help us see the light in a very long, dark tunnel. Much appreciated(if I may speak for all the lurkers on your thread, as well.)

If this first video was, as you said, basic, then I am anxiously waiting for the next delivery from you and would like to participate at a later stage.

Thanks in advance.

Good Trading.

Pete
  • #120
  • Apr 7, 2016 5:07am Apr 7, 2016 5:07am
Quoting sweetaction
EJ So far there is a nice bit of respect for EJ at 123.15 only been to 123.12 that's pretty much bang on in my book, retrace 30 pips so far, not bad considering how much yen buying we have see for hours now. Wait for the pullback need to see the strength of this as well and what price action is doing Here is a fun task to do while we wait pull up the 1h EJ chart and can anybody give me an indicator that says buy now 52% of the retail traders are short this pair now, i mean do these guys own charts Simon
No buyers yet.
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