https://www.youtube.com/watch?v=45u1...ature=youtu.be Holiday video + written guides on the two setups at the end{image} {image}
Price action trading - Trade like the pros!
https://www.youtube.com/watch?v=45u1...ature=youtu.be Holiday video + written guides on the two setups at the end
thinking outside the box
- #508
- Jan 3, 2017 10:39am Jan 3, 2017 10:39am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
GJ closed for +50
1 of two EU longs closed for +30, waiting on 50 for the second one.
And that's how you make a nice 10% to kickstart the year
1 of two EU longs closed for +30, waiting on 50 for the second one.
And that's how you make a nice 10% to kickstart the year
- #509
- Jan 3, 2017 10:40am Jan 3, 2017 10:40am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
TP of 30 pip hit on EURUSD and USDCHF. Lets see if i could do it better. Now i'm waiting for an retrace to enter again {image} {image}
I'm curious if we entered for the same reasons? 
I think so...my methodology is to identify the entry zones in higher TF (4h chart). The entry zone is retrace of the last leg
- in the EURUSD the previous leg was up so the price should retrace at least 61.8 or lower (below 1.04801)
- in USDCHF the previous leg was down, so the price should retrace at least 61.8 or higher (higher than 1.02211)
in both cases those zone are Support and resistance zones of the higher TF, then when the price gets to the Entry zone, i go to lower TF (in this case 15M) and i start looking for entries with low risk
I think the major reasons are identical
But i have to admit that may entry was a littel bit late
- in the EURUSD the previous leg was up so the price should retrace at least 61.8 or lower (below 1.04801)
- in USDCHF the previous leg was down, so the price should retrace at least 61.8 or higher (higher than 1.02211)
in both cases those zone are Support and resistance zones of the higher TF, then when the price gets to the Entry zone, i go to lower TF (in this case 15M) and i start looking for entries with low risk
I think the major reasons are identical
But i have to admit that may entry was a littel bit late
- #512
- Jan 3, 2017 10:59am Jan 3, 2017 10:59am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
My entry was based off the fact that the historical Low at 1.0355 was pierced, but price failed to stay below. So I assumed it was liquidity being attacked and faded the decline
- #518
- Jan 4, 2017 10:14am Jan 4, 2017 10:14am
- Joined Dec 2005 | Status: Trader | 2,857 Posts
+40 {image}
- #519
- Jan 4, 2017 10:22am Jan 4, 2017 10:22am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} Nice Trade, could you elaborate on your reasoning for the entry, since taking longs is counter trend from the HTF D1, was the market structure shift on H1?
I'm chasing 1.07 and liquidity above the 1.0650 highs, so trend is not bearish for me 
- #520
- Jan 4, 2017 10:27am Jan 4, 2017 10:27am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
And I just closed this motherf@#!er here after it failed to go to my 40 pip tp. Just wait and see how it gets there now
