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  • #401
  • Nov 29, 2016 11:00pm Nov 29, 2016 11:00pm
nice thread man. excellent
  • #402
  • Nov 30, 2016 4:19am Nov 30, 2016 4:19am
Alex,

would you show us your top down thought process for your Loonie and Oil trade?
Never stop to learn
  • #403
  • Nov 30, 2016 7:23am Nov 30, 2016 7:23am
After not being able to decide where to place my stops, I finally put them below the second order right before going to bed, and I almost got stopped..... Completely lucky on this one
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  • #404
  • Nov 30, 2016 7:42am Nov 30, 2016 7:42am
Quoting Whatsmyname
Alex, would you show us your top down thought process for your Loonie and Oil trade?
Gladly.

USDCAD has been in a very wide consolidation range. It began falling, and retracing. I just caught positions inside yesterday's retracement and got super lucky that I didn't get stopped overnight.

P.S: I checked out an oil chart because I read headlines it was dropping like a hammer. I wanted it to not be dropping when I plot my trade, because I wanted overall dollar weakness to be leading, and not CAD reacting to oil movements.
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  • #405
  • Nov 30, 2016 8:28am Nov 30, 2016 8:28am
Quoting WDays
{quote} Gladly. USDCAD has been in a very wide consolidation range. It began falling, and retracing. I just caught positions inside yesterday's retracement and got super lucky that I didn't get stopped overnight. P.S: I checked out an oil chart because I read headlines it was dropping like a hammer. I wanted it to not be dropping when I plot my trade, because I wanted overall dollar weakness to be leading, and not CAD reacting to oil movements. {image}
Nice trade. How many pairs are monitoring Alex?

Got stopped out on my EU for 20pips
thinking outside the box
  • #406
  • Nov 30, 2016 8:32am Nov 30, 2016 8:32am
Quoting Mercennary
{quote} Nice trade. How many pairs are monitoring Alex? Got stopped out on my EU for 20pips
I've a bunch, but I don't really trade them all the time. I focus mainly on EU, GU and Ucad
  • #407
  • Nov 30, 2016 3:03pm Nov 30, 2016 3:03pm
Quoting WDays
{quote} It's not something that I monitor, but I guess I agree with your analysis. Beware though, when looking for Sup & Dem candles, avoid taking the ones that form inside a consolidation. Look at biggest juicy candle you can find, like I've shown below. {image}
It did not get back to the Green zone becuase thats where the Market Makers(MM) have set up liquidity traps for later on. When you see a set up like that, expect price to come back take out those stops, come into the DZ then head back up again. This is a standard MM business model and you will see it repeating over and over again in the markets
  • #408
  • Dec 1, 2016 2:15am Dec 1, 2016 2:15am
Quoting WDays
{quote} I've a bunch, but I don't really trade them all the time. I focus mainly on EU, GU and Ucad
Hi WDays i just learn about your strategy
and you can check my analysis this is right?
http://prntscr.com/ddy1e1

Thank you
  • #409
  • Dec 1, 2016 3:01am Dec 1, 2016 3:01am
Morning WDays, what do you think of this.

Cable is making higher lows for a couple of weeks as it hits demand zones, however its now touching a strong supply zone with confluences with the sweet spot and 1.2550 RN, there's a possibility of reaching 1.2328 for a retest of support if that supply confirms momentum. Keep in mind we have NFP this friday and USDx is still consolidating.

I would love to read your taking on this pair, after the fast crash it's acting very cautious.
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thinking outside the box
  • #410
  • Dec 1, 2016 6:09am Dec 1, 2016 6:09am
Quoting Mercennary
Morning WDays, what do you think of this. Cable is making higher lows for a couple of weeks as it hits demand zones, however its now touching a strong supply zone with confluences with the sweet spot and 1.2550 RN, there's a possibility of reaching 1.2328 for a retest of support if that supply confirms momentum. Keep in mind we have NFP this friday and USDx is still consolidating. I would love to read your taking on this pair, after the fast crash it's acting very cautious. {image}
I'm bullish until 1.2655. Look at your hourly chart, you'll see a now common pattern hopefully
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  • #411
  • Edited 8:18am Dec 1, 2016 7:06am | Edited 8:18am
Quoting WDays
{quote} I'm bullish until 1.2655. Look at your hourly chart, you'll see a now common pattern hopefully {image}
Yes, the range got filled, I have some trouble grasping this concept. Thanks man

EDIT: Could you elaborate more about range completion and how to implement into the analysis of Market structure Alex?
thinking outside the box
  • #412
  • Dec 1, 2016 9:24am Dec 1, 2016 9:24am
Quoting Mercennary
{quote} Yes, the range got filled, I have some trouble grasping this concept. Thanks man EDIT: Could you elaborate more about range completion and how to implement into the analysis of Market structure Alex?
I will try to do that after saturday, because I've got some forex-unrelated things to do these upcoming days.
  • #413
  • Dec 1, 2016 10:07am Dec 1, 2016 10:07am
Quoting WDays
{quote} I will try to do that after saturday, because I've got some forex-unrelated things to do these upcoming days.
No rush mate, take your time
thinking outside the box
  • #414
  • Dec 2, 2016 5:55pm Dec 2, 2016 5:55pm
Hoped for better payrolls....
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  • #415
  • Dec 5, 2016 1:01am Dec 5, 2016 1:01am
Quoting WDays
Hoped for better payrolls.... {image}
better or worse?
I was also long from thursday, but sunday opening caused I am at breakeven.
  • #416
  • Dec 6, 2016 4:11am Dec 6, 2016 4:11am
Quoting Milan
{quote} better or worse? I was also long from thursday, but sunday opening caused I am at breakeven.
Better for my trade, worse for the dollar naturally

I took a stop on that trade. I also came down with a horrible flu that's got me bedbound for the past couple of days, so no new content for now..
  • #417
  • Dec 6, 2016 4:24am Dec 6, 2016 4:24am
Quoting WDays
{quote} Better for my trade, worse for the dollar naturally I took a stop on that trade. I also came down with a horrible flu that's got me bedbound for the past couple of days, so no new content for now..
Sorry to hear about the flu mate, feel better soon, and don't worry that's already plenty of material to get digested
thinking outside the box
  • #418
  • Dec 7, 2016 4:31am Dec 7, 2016 4:31am
Get well soon Alex.
Take it as a nice opportunity to get off the charts and enjoy some interesting movies

Below is my view on EUR/USD. I currently have a bullish bias for the time being. This bias will remain until proven wrong.
Edit: An interesting level that price want to aim to hit would be the 1,10 level as slightly above we have a SZ.

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Prive bounced off support slightly above 1,05, formed a range and finally broke out on top of the range. The orange line should be the top of the Demand Zone.
It is a big zone and I'd not really put a pending order there with a stop below. Narrowing down to a smaller TF such as H1 does not really narrow down the DZ, unless you use the bullish wicks. I personally like to be as close to Support Zones or SZ with my entries as possible.

Ideally we do not get a strong retrace inside the zone, as that would make me question the bullish strength. I am looking for signs of strength off the orange line (top of DZ) which is a confluence level of the range top and previous week high.
Never stop to learn
  • #419
  • Dec 11, 2016 7:26am Dec 11, 2016 7:26am
Those were the levels that I had prior and during the ECB conference. EU reacted to a statement by Draghi, that QE would be increased. However, seeing as it is set to end in march 2017, I do believe the decline should be shortlived and EU should head back up from around these support levels.

The bottom line is, USD was no actor in this decline. It's all euro-based. It should recuperate with a limited upside, though, because we're waiting for a december Fed hike.
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  • #420
  • Dec 13, 2016 6:39am Dec 13, 2016 6:39am
Small trade idea that I had late last night. Set a pending sell at the 1.0650 RN with the expectation that price would correct downwards after taking out a significant swing on the left. I was opting for a larger target, but I got scared of 15m demand area.

This is an alternative way we can incorporate our knowledge on Market Structure
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