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Price Will Tell - Supply/Demand Price Action Trading

  • #941
  • Aug 18, 2016 6:12am Aug 18, 2016 6:12am
Quoting simond2002
{quote} EURCAD Support held overnight on M15. Intra looks like it may be trying to breakout north. Alarms set. Will look to see if a buy set up occurs. {image}
2 x long positions locked at B/E.

Not out of the woods yet. We'll see...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 44 KB
  • #942
  • Aug 18, 2016 8:00am Aug 18, 2016 8:00am
Quoting simond2002
{quote} 2 x long positions locked at B/E. Not out of the woods yet. We'll see... {image}
Stopped at B/E on both of those.

Rationale for entry was about trying to catch a breakout. Price has retraced, however. Not interested to sell this, waiting for
lower price to see if another long sets up.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM15.png Size: 36 KB


D1

The Daily level spoken about a couple of days ago has now been tested and fresh daily demand is in play.
Price has a lot of digging to do if it's going to continue south.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 39 KB


Missed a great long entry this morning on GBPJPY due to telephone going. Such is life...
  • #943
  • Aug 18, 2016 9:07am Aug 18, 2016 9:07am
EURGBP

Daily has retraced exactly to the 618 fib which is also the equal legs extension of the ABC off the bottom. There is bearish divergence also.

30M also showed bearish divergence. I am not short yet because if the chart is correct there is a possibility for hell of a fall and I will have more than enough time to get in. Anyways, im looking to sell a pullback and aim for the bottom of the parallel initially.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP D1 (08-18-2016 0656).png Size: 132 KB
Click to Enlarge Name: EURGBP m30 (08-18-2016 0659).png Size: 96 KB
  • #944
  • Aug 18, 2016 9:08am Aug 18, 2016 9:08am
Quoting simond2002
{quote} EURCAD Support held overnight on M15. Intra looks like it may be trying to breakout north. Alarms set. Will look to see if a buy set up occurs. {image}
Here's my short term view on ECad

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH1.png Size: 61 KB
  • #945
  • Aug 18, 2016 9:14am Aug 18, 2016 9:14am
Quoting batus
{quote} Here's my short term view on ECad {image}
Can u mark your entry candle?
  • #946
  • Aug 18, 2016 9:20am Aug 18, 2016 9:20am
GJ

Some M15 tech.

Those yellow SR lines (which for me are not actually SR lines per se, they're what I refer to as "Breakout Reference Lines") are tick-marked at their origin.

Price made that H/S this morning and there was a really nice LTF entry on the breakout just before news, which again, I missed unfortunately due to a telephone call.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 39 KB
  • #947
  • Aug 18, 2016 9:25am Aug 18, 2016 9:25am
EURCAD

There was a short opportunity that I saw on M15, when priced filled that gap. But I was fresh out of the long and not focussed on selling this pair at that point.

Whether or not there's going to be a sell-op my side this session, not sure. Probably not, only trading until 5PM London.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM15.png Size: 36 KB
  • #948
  • Aug 18, 2016 9:30am Aug 18, 2016 9:30am
Quoting raiders
EURGBP Daily has retraced exactly to the 618 fib which is also the equal legs extension of the ABC off the bottom. There is bearish divergence also. 30M also showed bearish divergence. I am not short yet because if the chart is correct there is a possibility for hell of a fall and I will have more than enough time to get in. Anyways, im looking to sell a pullback and aim for the bottom of the parallel initially. {image} {image}
Nice

I don't trade this pair but from a pure SR perspective your analysis looks pretty damn good to my eyes.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 34 KB
  • #949
  • Aug 18, 2016 9:31am Aug 18, 2016 9:31am
Quoting simond2002
{quote} Can u mark your entry candle?
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH12.png Size: 66 KB
  • #950
  • Aug 18, 2016 9:32am Aug 18, 2016 9:32am
Quoting raiders
EURGBP Daily has retraced exactly to the 618 fib which is also the equal legs extension of the ABC off the bottom. There is bearish divergence also. 30M also showed bearish divergence. I am not short yet because if the chart is correct there is a possibility for hell of a fall and I will have more than enough time to get in. Anyways, im looking to sell a pullback and aim for the bottom of the parallel initially. {image} {image}
i love pullback
  • #951
  • Aug 18, 2016 9:41am Aug 18, 2016 9:41am
Quoting batus
{quote} {image}
I'm trying to understand a bit more about what I'm seeing and how you do things. Didn't "Limit Price" set up yesterday after the first test of that decision level that I posted a few days ago? Surely your entry candle should've been this one?


Attached Image (click to enlarge)
Click to Enlarge Name: ecad.png Size: 50 KB
  • #952
  • Aug 18, 2016 9:43am Aug 18, 2016 9:43am
Quoting simond2002
GJ Some M15 tech. Those yellow SR lines (which for me are not actually SR lines per se, they're what I refer to as "Breakout Reference Lines") are tick-marked at their origin. Price made that H/S this morning and there was a really nice LTF entry on the breakout just before news, which again, I missed unfortunately due to a telephone call. {image}
I was redoing all my charts this morning and I saw the same entrance about and hour after the fact lol ...would have made for a lovely trade.

GU made the same move but it was so much cleaner on the dragon
  • #953
  • Aug 18, 2016 9:46am Aug 18, 2016 9:46am
Quoting simond2002
{quote} I'm trying to understand a bit more about what I'm seeing and how you do things. Didn't "Limit Price" set up yesterday after the first test of that decision level that I posted a few days ago? Surely your entry candle should've been this one? {image}
You got it man...yes, my first entry was there & closed already
  • #954
  • Aug 18, 2016 9:48am Aug 18, 2016 9:48am
AU in an intersting position right now
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD m30 (08-18-2016 0746).png Size: 89 KB
  • #955
  • Aug 18, 2016 9:51am Aug 18, 2016 9:51am
Quoting batus
{quote} You got it man...yes, my first entry was there & closed already
Cool, makes sense
  • #956
  • Aug 18, 2016 9:54am Aug 18, 2016 9:54am
Quoting raiders
AU in an intersting position right now {image}
Are you thinking longs or shorts?
  • #957
  • Aug 18, 2016 9:58am Aug 18, 2016 9:58am
Quoting simond2002
{quote} Cool, makes sense
More details on my entry pullback type..below u can see 2 points of my entry...at the beginning (im using lower tf) & at a large pullback.
Depends on scalping or day trade or swing. And every timeframe have its own decision but the best with a large imbalance.

Attached Image (click to enlarge)
Click to Enlarge Name: entry.png Size: 21 KB
  • #958
  • Aug 18, 2016 9:59am Aug 18, 2016 9:59am
Quoting simond2002
{quote} Are you thinking longs or shorts?
very short term long

I like looking for a longer term short in this pair but right now i think theres a decent scalp opp if 7683 can get taken out.

if not then im looking for a cleaner entrance for a short since i dont really think this would be it
  • #959
  • Aug 18, 2016 10:02am Aug 18, 2016 10:02am
Quoting batus
at the beginning (im using lower tf)
Yea, that was the bit that was evident my side. Just wanted to reassure myself
  • #960
  • Aug 18, 2016 10:09am Aug 18, 2016 10:09am
I agree with a short term long. However I am personally looking to re-enter shorts above the .7700 level. Looking for USD strength over the next 4-5 trading days.
regards,
goma
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H1 (08-18-2016 0804).jpg Size: 191 KB
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