From what I understand, the data in the range bar currency strength meter is derived from, well, ranges basically. We'd set a range resolution - 4 pips/8 pips/10 pips whatever it would be, and then the meter would only print data once the prices within that particular range have been filled. I think the reason for this is that we end up with a much smoother looking indication.
C-12's Supply, Demand and PA thread
- #4,462
- Jul 28, 2016 4:26am Jul 28, 2016 4:26am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} ... {image} {file}
According to the divergence, JPY is currently strongest while GBP is currently weakest (even though it's actually USD but I don't trade UJ
).This would imply that GBPJPY shorts are favourable.
Some GBPJPY tech M15:
Could be fun to follow this one through and see what gives...
- #4,463
- Jul 28, 2016 1:45pm Jul 28, 2016 1:45pm
- Joined May 2012 | Status: ... | 1,925 Posts
Could be fun to follow this one through and see what gives...
Looks like there's some direction established. Will try and buy this on the flip-side.
- #4,464
- Jul 28, 2016 1:58pm Jul 28, 2016 1:58pm
- Joined Dec 2012 | Status: On Life's Path | 2,076 Posts
- #4,465
- Jul 28, 2016 2:29pm Jul 28, 2016 2:29pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote} What a waste of a day that was
Don't try this at home unless bust accounts are desired.
Really not sure if this move in EU is finished going up. The daily pin bar looks tepid and not really come off anything solid....
We're now at H1 demand but think I'll call it a day and see what tomorrow brings. Should have probably held a couple of the shorts....
- #4,466
- Jul 28, 2016 2:32pm Jul 28, 2016 2:32pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote} I deleted my post. Sorry, getting away from pure S/D trading. Not for this thread.
- #4,467
- Jul 28, 2016 3:05pm Jul 28, 2016 3:05pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
I've been watching the GJScalper vs Geppy thread with interest.
I don't know how Geppy has kept his account at the break even mark. His entries and trade management are unusual. He seems to be picking a direction (based off trendlines, SMA's and fundamentals) and then loading up on positions at random locations. It doesn't appear to be based on PA.
I can see he's loaded long on UCAD and heavily short GBPJPY even though PA doesn't appear favourable to me atm.
It's fun to watch anyway.
I don't know how Geppy has kept his account at the break even mark. His entries and trade management are unusual. He seems to be picking a direction (based off trendlines, SMA's and fundamentals) and then loading up on positions at random locations. It doesn't appear to be based on PA.
I can see he's loaded long on UCAD and heavily short GBPJPY even though PA doesn't appear favourable to me atm.
It's fun to watch anyway.
- #4,468
- Jul 28, 2016 3:51pm Jul 28, 2016 3:51pm
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Yeah, things started off quite hairy but think EU was ok (ish) in the end. Very scrappy. Would have preferred to wait for PA rather than pick tops but had to go to work.... Don't try this at home unless bust accounts are desired.
I was also interested in that sell on the first retest but the RR didn't look that good with PA above the zone, although it obviously worked well if the stop was above the PA
- #4,469
- Jul 28, 2016 4:08pm Jul 28, 2016 4:08pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote} Some nice trades there mate. Was watching EURUSD too and would usually have bought that low based on favourable PA and some SR way off to the left. Dropped the ball though and missed the setup, which is not unusual when watching PA form that we trade into as opposed to off of, if that makes sense! I was also interested in that sell on the first retest but the RR didn't look that good with PA above the zone, although it obviously worked well if the stop was above the PA
Any thoughts on UCAD H4? I'm actually in a short on the retest of the H4 zone and looks like forming a bear engulf off it.
Very tempted to buy EU here.
- #4,470
- Jul 28, 2016 4:18pm Jul 28, 2016 4:18pm
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Oh yeah, in hindsight it was actually quite clean PA really on EU once the top was in place. Actually I didn't see the S/R line. I exited the initial positions based on DX being in M30 supply at the time. Any thoughts on UCAD H4? I'm actually in a short on the retest of the H4 zone and looks like forming a bear engulf off it. Very tempted to buy EU here.
H4 bullish overall at this point, but with the potential for a channel setting up, lower prices could be on the cards.
My actual USDCAD chart is M30 and marked up with these levels:
- #4,471
- Jul 28, 2016 4:23pm Jul 28, 2016 4:23pm
- Joined May 2012 | Status: ... | 1,925 Posts
Very tempted to buy EU here.
- #4,472
- Edited 4:38pm Jul 28, 2016 4:27pm | Edited 4:38pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote} If I was assessing USDCAD H4 without the indicator I'd be making this kind of view: H4 bullish overall at this point, but with the potential for a channel setting up, lower prices could be on the cards. {image} My actual USDCAD chart is M30 and marked up with these levels: {image}
D1 (rejected off supply with mild bear engulf and a follow up pin style bar)
H4 (immediate uptrend taken out with a retest of H4 supply formed yesterday)
It's a pretty wide zone and my guess is it could take out the M30 upper supply if it gets back up there, so the SL is tight (possibly too tight).
- #4,474
- Jul 28, 2016 5:02pm Jul 28, 2016 5:02pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
As for UCAD, I think (unless we form some bullish demand here) I can't see much in the way of clean untested demand below.
I've read that Geppy believes UCAD has broken upside out of a range (triangle) and that crude is getting smashed (which should be good for longs)
Although there's an argument the weekly is still pointing upwards in SD / PA terms.
UCAD was a great buy early last week though.
I've read that Geppy believes UCAD has broken upside out of a range (triangle) and that crude is getting smashed (which should be good for longs)
Although there's an argument the weekly is still pointing upwards in SD / PA terms.
UCAD was a great buy early last week though.
- #4,475
- Jul 29, 2016 4:02am Jul 29, 2016 4:02am
- Joined May 2012 | Status: ... | 1,925 Posts
I don't know how Geppy has kept his account at the break even mark. His entries and trade management are unusual. He seems to be picking a direction (based off trendlines, SMA's and fundamentals) and then loading up on positions at random locations. It doesn't appear to be based on PA. I can see he's loaded long on UCAD and heavily short GBPJPY even though PA doesn't appear favourable to me atm. It's fun to watch anyway.
- #4,476
- Jul 29, 2016 6:28am Jul 29, 2016 6:28am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
Very tempted to buy EU here.
Hoping it might breakout but might as well lock this in and see what happens when I get home from work later.
Deep into yesterday's H4 zupply zone here.
- #4,477
- Jul 29, 2016 6:49am Jul 29, 2016 6:49am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Decided to get involved in the end. Hoping it might breakout but might as well lock this in and see what happens when I get home from work later. Deep into yesterday's H4 zupply zone here. {image}
Got a sell on GJ, taken off M15 but if the current H4 candle doesn't clear this wick at 135.53, I'll take it out (unless it takes itself out first of course).
- #4,478
- Jul 29, 2016 6:51am Jul 29, 2016 6:51am
- Joined May 2012 | Status: ... | 1,925 Posts
Keeping an eye on USDCAD here
