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Price action trading - Trade like the pros!

  • #381
  • Nov 29, 2016 1:43am Nov 29, 2016 1:43am
Quoting WDays
{quote} Something like this {image}
Yes this is a clean and readable image, but you should make somewhere in this thread a brief summary of the abbreviations like, ST, IT, LT, so we can all understand and learn what your annotations on the chart mean.
Looking for profitable short term trades ...|
  • #382
  • Nov 29, 2016 2:00am Nov 29, 2016 2:00am
Quoting FxSpartan
{quote} Hello Lifon, for the videos, which I personally think are excellent, you can click on the button to watch it in Youtube. Click on the 'Settings' tab and select 'Subtitles'. From there you can then select 'Auto-Translate'. This will translate the spoken text into any language you care to select. Hope this helps. Do you want me to make a video on how to do this? Lol.
Thanks for advise. English subtitles are usefull. But translate in czech language is bad.
  • #383
  • Nov 29, 2016 2:19am Nov 29, 2016 2:19am
I do not mean to be blunt. I'd strongly advise to read the whole thread from post 1. All questions should be clear when you reach the last post. If there are still questions, everyone whe knows the answer will be happy to answer.
It is really a good read and informative. And it is just 20 pages. This is a discretionary approach that requires to understand the basics. So followers need to do their due dilligengce.

Cheers,
Wmn
Never stop to learn
  • #384
  • Nov 29, 2016 3:52am Nov 29, 2016 3:52am
I've used the abbreviation in the latest video, which is why I thought I'd use it directly here Like I said, I will reorganize everything soon, anyway.
  • #385
  • Nov 29, 2016 3:52am Nov 29, 2016 3:52am
Waking up to this is always fun...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 33 KB
  • #386
  • Nov 29, 2016 4:58am Nov 29, 2016 4:58am
I have something simmilar on USD/JPY.

Attached Image (click to enlarge)
Click to Enlarge Name: USD vs JPY m5.png Size: 74 KB


Missed the trigger by 0,5 pips
Never stop to learn
  • #387
  • Nov 29, 2016 5:25am Nov 29, 2016 5:25am
EURGBP beginning to look a lot like a long to me :o
  • #388
  • Nov 29, 2016 5:30am Nov 29, 2016 5:30am
Tight stop, leaving soon and can't micro-manage. Target is way higher but I will cut before that by the end of the day I'm sure.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM5.png Size: 28 KB
  • #389
  • Nov 29, 2016 7:47am Nov 29, 2016 7:47am
Quoting WDays
Tight stop, leaving soon and can't micro-manage. Target is way higher but I will cut before that by the end of the day I'm sure. {image}
I grabbed a similar position on EU, I'm long planing to TP way higher @ 1.070x. A calculated bet on the MS shift and USDx overbought condition.
Let's see, If I'm right this has a great likelihood of becoming the LOW.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-fxopen-investments-inc.png Size: 53 KB
thinking outside the box
  • #390
  • Nov 29, 2016 8:36am Nov 29, 2016 8:36am
Quoting Mercennary
{quote} I grabbed a similar position on EU, I'm long planing to TP way higher @ 1.070x. A calculated bet on the MS shift and USDx overbought condition. Let's see, If I'm right this has a great likelihood of becoming the LOW. {image}
I took 9 pips in loss on mine
  • #391
  • Nov 29, 2016 8:54am Nov 29, 2016 8:54am
I really like the "set and forget" type of trading, and it appeals to my lifestyle a lot. Sometimes trades just need to unfold and keeping a close eye on them the entire day makes that impossible. But looking at charts every once in a while helps to avoid missing out on good trades. With that in mind, I removed my initial buy limit order and set it on the 1.0572 support level. I got filled and price reached my 30 pip TP just as I came home.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 63 KB
  • #392
  • Nov 29, 2016 9:21am Nov 29, 2016 9:21am
Oil stopped digging lower lows, so I decided I'd give this a go... Late entry, but it feels like it wants to drop. Holding it for now, will see again by london close.

Edit: changed stop level higher, and will look to add to the position because now it wants to retrace it seems
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 37 KB
  • #393
  • Nov 29, 2016 10:32am Nov 29, 2016 10:32am
I want a lower swing high to form on usdcad right now, otherwise it's bad news for my trades.
  • #394
  • Nov 29, 2016 10:51am Nov 29, 2016 10:51am
This is the plan for now, stay tuned for tweaks and changes
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 52 KB
  • #395
  • Nov 29, 2016 11:50am Nov 29, 2016 11:50am
*Update*

Doing fine for now. Targets are slightly below 1.3395
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 43 KB
  • #396
  • Nov 29, 2016 12:02pm Nov 29, 2016 12:02pm
Quoting WDays
*Update* Doing fine for now. Targets are slightly below 1.3395 {image}
Great trade, I'm still holding my Fiber long as short term trade targeting 127% Fib + H4 supply.

I'm really curious on your technique to add to winners, hopefully you'll share with us mate

Best regards
thinking outside the box
  • #397
  • Nov 29, 2016 12:06pm Nov 29, 2016 12:06pm
Quoting Mercennary
{quote} Great trade, I'm still holding my Fiber long as short term trade. I'm really curious on your technique to add to winners, hopefully you'll share with us mate Best regards
Good to hear. I think it should be good til 1.08-1.0850, but don't let me bias you.

As for adding to winners, you can either use pullbacks to enter some more, or in this case, I saw it would retrace instead of tank. I waited for the pullback and used a combination of fibo + low timeframe supply areas, and set my limits. They all got filled, because the retracement was deeper.
  • #398
  • Nov 29, 2016 12:21pm Nov 29, 2016 12:21pm
Quoting WDays
{quote} Good to hear. I think it should be good til 1.08-1.0850, but don't let me bias you. As for adding to winners, you can either use pullbacks to enter some more, or in this case, I saw it would retrace instead of tank. I waited for the pullback and used a combination of fibo + low timeframe supply areas, and set my limits. They all got filled, because the retracement was deeper.
Great approach, but how do you handle exposure?
thinking outside the box
  • #399
  • Nov 29, 2016 12:29pm Nov 29, 2016 12:29pm
Quoting Mercennary
{quote} Great approach, but how do you handle exposure?
What do you mean? How do I not shit myself when I have multiple positions with stops?
  • #400
  • Nov 29, 2016 1:56pm Nov 29, 2016 1:56pm
Quoting WDays
{quote} What do you mean? How do I not shit myself when I have multiple positions with stops?
Lol, this answer the question hahaha.
thinking outside the box
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