Sorry, but this thing is going up to at least its previous high from here, this was just a stop run to grab the "dumb money" as I could see in the order book.
Mind sharing what you saw in the order book?
- #18,761
- Jun 23, 2016 7:11am Jun 23, 2016 7:11am
Mind sharing what you saw in the order book?
- #18,764
- Jun 23, 2016 7:57am Jun 23, 2016 7:57am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
{quote} Good call
Although your question wasn't directed towards me, I'd like to simply share some information with you about this "order flow". Unlike stocks, order flow in forex is useless, as the forex market is not only decentralized but the forex market doesn't have any sort of accurate way to show you "orders" which are pending/ or that have hit the market as liquidiaty providers can post different results. Also, you may want to note how it is we as small traders trade. Traders, most those who are into social trading as ourselves, tend to jump into the market the moment it is moving, instead of setting up pending orders to reverse/extend from the price action we see in real time. So with that said, I believe and I may be wrong, but most orders are placed into the market when people see breaks occuring on the lower tf, compared to simply waiting for "your best price".
Also for geektrader to have considered people as "dumb money" the ones who have stopped out or had their orders filled with that spike down, which was then followed with a reversal is a very harsh point of you and it leads one to believe that "he" knew the market would reverse up. Yet, of course no call, or better yet no trade had been placed in order to support his "belief". Below would be an example of "order flow".
So even if you saw the "order flow" and had the ability to see where people have pending orders, it still would give you 0 edge, as no indicator can predict the most important thing in forex and that is "How much new money will hit the market in the next x amount of seconds in order to take out the levels which you ahead of you.
@GJscalper I've turned a new leaf. No more trolling.
- #18,765
- Jun 23, 2016 8:21am Jun 23, 2016 8:21am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
Based on my setup.... GBP/JPY is currently a scalp sell. Stop loss is a close at or above 158.08 fib level. Tp for sell is 151.61
Should the order be stopped out, reverse to the buy the moment you stop out and take profit for the long would be 158.815
Should the order be stopped out, reverse to the buy the moment you stop out and take profit for the long would be 158.815
@GJscalper I've turned a new leaf. No more trolling.
- #18,768
- Jun 23, 2016 8:54am Jun 23, 2016 8:54am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
Based on my setup.... GBP/JPY is currently a scalp sell. Stop loss is a close at or above 158.08 fib level. Tp for sell is 151.61 {image} Should the order be stopped out, reverse to the buy the moment you stop out and take profit for the long would be 158.815
Over 80 pip profit from the price I recommended to sell from. 
@GJscalper I've turned a new leaf. No more trolling.
- #18,769
- Jun 23, 2016 9:16am Jun 23, 2016 9:16am
{quote} TP has just hit on GJ
- #18,770
- Jun 23, 2016 9:22am Jun 23, 2016 9:22am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
@GJscalper I've turned a new leaf. No more trolling.
- #18,772
- Jun 23, 2016 9:27am Jun 23, 2016 9:27am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
Here are the rules.
As of this moment you should be in a scalp sell of GJ.
TP is 156.312
Sl is a close at or above 156.816 (entry 3) of sequence.
------------------------------------ --------------------------------
Should order entry 3 go active, then long GJ for 3x time the lot you shorted GJ for, and your sl for the GJ long is a close at or below 156.564 on 1m.
I am currently waiting to enter into order 3 (entry 3)
@GJscalper I've turned a new leaf. No more trolling.
- #18,773
- Jun 23, 2016 9:32am Jun 23, 2016 9:32am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
@GJscalper I've turned a new leaf. No more trolling.
- #18,774
- Jun 23, 2016 9:49am Jun 23, 2016 9:49am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
You can now see, the second recommendation has just hit tp again. What an amazing quick scalp by GJ
Here is the short I took in one of the accounts.
What an amazing quick scalp by GJ Here is the short I took in one of the accounts.
@GJscalper I've turned a new leaf. No more trolling.
- #18,776
- Jun 23, 2016 10:27am Jun 23, 2016 10:27am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
@GJscalper I've turned a new leaf. No more trolling.
- #18,780
- Jun 23, 2016 11:35am Jun 23, 2016 11:35am
- | Membership Revoked | Joined May 2016 | 1,339 Posts
@GJscalper I've turned a new leaf. No more trolling.