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Price Will Tell - Supply/Demand Price Action Trading

  • #881
  • Aug 3, 2016 8:24am Aug 3, 2016 8:24am
Quoting batus
Actually i am a pullback trader
If I were to describe my trading I'd say I'm a pattern trader. Like "pullback trader" it obviously sounds a lot more easy than it actually is but one of the main reasons I started to look at trading chart/candle patterns is because I got fed up of placing limit orders at areas of S+D and pretty much always getting stopped out on them.

I don't trade for profit at this point. I know it's something a lot of people might not understand or appreciate but I've preferred to spend the last 4.75 years really studying and learning the market's order flow instead. Profit can come later. I wouldn't say patterns in context is the Holy Grail but understanding the order flow has been crucial. Whereas you leave limit orders (arguably for the same reasons that I look to enter) I read price-action at the levels and only look to enter once I believe I have the weight of the market behind my trade.

Based on your charts I can see an entry on the M15. I won't go into the detail, it's all there if people want to see it. Benefits in both ways of doing it I guess. But it's always good to know there's more than one way to skin a cat.
  • #882
  • Aug 3, 2016 9:43pm Aug 3, 2016 9:43pm
Yes, some of my limits also trigger a stoploss. My view on EurUsd :

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  • #883
  • Aug 4, 2016 1:59am Aug 4, 2016 1:59am
Quoting batus
Yes, some of my limits also trigger a stoploss. My view on EurUsd :
good trade
  • #884
  • Aug 4, 2016 5:13am Aug 4, 2016 5:13am
GJ M15 tech.

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  • #885
  • Aug 4, 2016 6:06am Aug 4, 2016 6:06am
Don't be one of those fundies suckers and get caught up in the news.
Read the price action.
133.23 is the Brexit pivot. Let's see.

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  • #886
  • Edited 6:42am Aug 4, 2016 6:25am | Edited 6:42am
Quoting simond2002
Don't be one of those fundies suckers and get caught up in the news. Read the price action. 133.23 is the Brexit pivot. Let's see. {image}
Great Simond ... thanks Nibiru

Im holding a short position on pound

EurUsd & the fresh demand target today

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  • #887
  • Aug 4, 2016 3:49pm Aug 4, 2016 3:49pm
Pound trade today.

Entry before the data release:
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While the data release:
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Entry after the data release:
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Why i hold the short position:
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Ending the trade:
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GbpJpy trade :
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  • #888
  • Aug 4, 2016 11:18pm Aug 4, 2016 11:18pm
wow.... great structure of chart and analysis... news made it fast thats all....
Success is a Journey Not a Destination....... kind regards ramzam
  • #889
  • Aug 5, 2016 2:28am Aug 5, 2016 2:28am
Quoting ramzam
wow.... great structure of chart and analysis... news made it fast thats all....
Thanks ramzam yea, the news made it fast. The price should be at the right place & at the right time in order to minimize the risk.

Below chart is an entry without any great news as the major data release will be on nfp today.
The important is depend on what decision price made.

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  • #890
  • Aug 5, 2016 7:56am Aug 5, 2016 7:56am
@ the right place , @ the right time ...
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  • #891
  • Aug 9, 2016 3:05am Aug 9, 2016 3:05am
Seeing these diamond patterns build quite regularly at the moment. Not sure there's "intelligent design" behind them but their effect is to blindside bulls and bears into thinking that theirs is the direction that's going to setup.

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Being absolutely in control of one's own trading method is crucial if we're going to trade these markets in a stress-free way. Recognising patterns like the diamond is only one part of the game. Having the patience to let them play out is another.

This pattern eventually broke down and the bears took control but by the time that happened I was already tucked up in bed. Accepting that we're not going to be able to take all setups even though we may wait an entire session for them to manifest is yet another aspect of our trading that we must deal with.

I'm now trading most of my pairs on 15 and 5 minute charts. GJ looks a bit land-locked at the moment. There's a couple of levels in there, however. Let's see.

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  • #892
  • Aug 9, 2016 4:28am Aug 9, 2016 4:28am
Quoting simond2002
Seeing these diamond patterns build quite regularly at the moment. Not sure there's "intelligent design" behind them but their effect is to blindside bulls and bears into thinking that theirs is the direction that's going to setup. {image} Being absolutely in control of one's own trading method is crucial if we're going to trade these markets in a stress-free way. Recognising patterns like the diamond is only one part of the game. Having the patience to let them play out is another. This pattern eventually broke down and the bears took control but...
So...

There was a bounce there on the M5 chart for about 30 pips if taken on touch and closed at the trendline.

I opted to stay out because touch-trading isn't in my plan. I'm looking for re-accumulation at these levels in the form of PA that I recognise. If it doesn't setup I stay out. If it does setup I go in.

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  • #893
  • Aug 9, 2016 4:44am Aug 9, 2016 4:44am
It's been a while. Looks like I wasn't the only one shorting Cable before the news.

This was taken immediately after the trade:

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And some HTF confluence:

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Then for the illegal stuff.....

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In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #894
  • Aug 9, 2016 4:52am Aug 9, 2016 4:52am
And a couple of sad screenshots:

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In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #895
  • Aug 9, 2016 4:52am Aug 9, 2016 4:52am
Quoting By_Tor2114
It's been a while. Looks like I wasn't the only one shorting Cable before the news. This was taken immediately after the trade: {image} And some HTF confluence: {image} Then for the illegal stuff..... {image}
Great trade Ben. Good to see you around.
I'm trying to short GJ through that support - kind of illegal stuff
  • #896
  • Aug 9, 2016 4:58am Aug 9, 2016 4:58am
Quoting simond2002
{quote} Great trade Ben. Good to see you around. I'm trying to short GJ through that support - kind of illegal stuff
It's already tested entry so have moved stop. T/P or S/L from herein.

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  • #897
  • Aug 9, 2016 5:01am Aug 9, 2016 5:01am
Very nice

I've got about another hour of chart time before I head out for a run, so might grab something else if it shows itself.

P.S Hit me up on Skype. I've got a little script that might be useful for you.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #898
  • Aug 9, 2016 5:19am Aug 9, 2016 5:19am
Quoting simond2002
{quote} It's already tested entry so have moved stop. T/P or S/L from herein. {image}
T/P

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  • #899
  • Aug 9, 2016 6:02am Aug 9, 2016 6:02am
Quite like the way CADJPY has played out on the technical front.

Some tepid looking direction from last week (I think) that broke out and has retested the "flip" zone by forming this large looking wedge. I like the way price does this. Sometimes it'll come down in a nice channel, some times it'll come down as a wedge, and sometimes it'll come down in a way that defies description!

It's now all about how (if at all) it breaks of out of this wedge. Let's see...

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  • #900
  • Aug 9, 2016 8:43am Aug 9, 2016 8:43am
USDCAD is rinsing both sides of day-trade here. Potential to see a diamond formation; time and price will tell.

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Based on Weekly there is the potential for this pair to drop like a stone. If it doesn't we're going to need to see some big liquid injection to breakout north. Will keep day-trading it but must remain aware of the higher TFs.

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