A good setup on Gbp
Usd
Usd 
- #1,043
- Dec 19, 2016 4:31am Dec 19, 2016 4:31am
Those who caught the GU QM, well done 
Knowing the levels where QMs tend to form allows to trade the very top of it (HH or LL).
Sometimes a QM can turn into a diamond (DM), depending on where price is coming from (what is the QM a reaction to?) and if the orders were filled or not at the extreme.
Knowing the levels where QMs tend to form allows to trade the very top of it (HH or LL).
Sometimes a QM can turn into a diamond (DM), depending on where price is coming from (what is the QM a reaction to?) and if the orders were filled or not at the extreme.
the 3rd wave is the crowd's wave
- #1,044
- Dec 19, 2016 7:55am Dec 19, 2016 7:55am
Those who caught the GU QM, well done
Knowing the levels where QMs tend to form allows to trade the very top of it (HH or LL).
I don't know how you managed to catch the top (almost) of that QM but I'm impressed. I'd have waited for the return probably. Was your SL at about 1.2770 or even tighter than that? Thanks!
You reap what you sow.
- #1,046
- Dec 19, 2016 11:04am Dec 19, 2016 11:04am
{quote} Your trading's on fire these days Juri! Well done
My SL was about 19 pips and TP for the 2nd half of my position at 7.5R
Nothing magical, just followed what great teachers like Ifmyante, redsword11 and other masters of PA shared freely with us.
And of course a lot of practice.
the 3rd wave is the crowd's wave
{quote} Hi NT, nice to see you around
Yes, I've been getting into Ifmyante's work myself recently, the free webinars he did in September are amazing. But like you said, it takes a lot of practice to spot the best places to enter and exit. I've not been able to look at redsword11's work yet due to lack of time.
Thanks again and good luck
You reap what you sow.
- #1,048
- Dec 19, 2016 11:21pm Dec 19, 2016 11:21pm
- Joined Aug 2009 | Status: Just trade it! | 1,230 Posts
Money is made by sitting, not trading. Jesse L. Livermore
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- #1,056
- Dec 25, 2016 11:38am Dec 25, 2016 11:38am
{quote} Hi mertch I think it's because the signal was already given for lower prices, it was only a RT {image} Did the same only that your entry was way better{image} Thanks for your charts, really awesome trading
And that should've been expected because even though price did what it was supposed to do...(do an engulf , reacting to supply above...)
It still came back a last time to grab the last remaining orders left within that supply right ?
And that's essentially the reason why this "diamond" (or whatever we call this) , should've been expected , correct ?
So , had that QM's top reached the last remaining orders , then engulfed that lower kink , (still without reaching its target)... Then we woud probably be dealing with a QM instead of diamond , correct ?...
But should we "always" expect something like that ? Do diamonds always occur if the last remaining orders aren't reached ? One thing's for sure , it at least seems to give a good hint on what ITs may potentially do...
Is this correct or not ?
