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Price action trading - Trade like the pros!

  • #521
  • Jan 4, 2017 11:30am Jan 4, 2017 11:30am
Quoting Hugoafonso
EURUSD, trying to get 40 pips {image}
+28 pip closed manually, aproaching FOMC and the price react at resistance zone, rejecting new highs
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 23 KB
  • #522
  • Jan 5, 2017 4:56am Jan 5, 2017 4:56am
Quoting Hugoafonso
{quote} +28 pip closed manually, aproaching FOMC and the price react at resistance zone, rejecting new highs {image}
Very good Just a headsup, the "FOMC" we had last night wasn't the relevant one.
  • #523
  • Jan 5, 2017 4:57am Jan 5, 2017 4:57am
I'm taking a small break from trading fx today, as I'll be looking into some stocks
  • #524
  • Jan 5, 2017 5:13am Jan 5, 2017 5:13am
In terms of EU, I see this but expect further upside to 1.0760. There are payrolls tomorrow, so anything can happen at this point. I'm still waiting for liquidity above 1.0650 to be taken.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 55 KB
  • #525
  • Jan 5, 2017 5:15am Jan 5, 2017 5:15am
Quoting WDays
{quote} Very good Just a headsup, the "FOMC" we had last night wasn't the relevant one.

unfortunately the price reached my target of 40 pip, i closed the position to soon
Today i'm also not having Setup in FX
  • #526
  • Jan 5, 2017 5:19am Jan 5, 2017 5:19am
Quoting Hugoafonso
{quote} unfortunately the price reached my target of 40 pip, i closed the position to soon Today i'm also not having Setup in FX
It happens, don't worry When I started I was closing positions waaaaay too early, and always ended up regretting. I battled that by trying a couple of things, and I found that if I did not stick around in front of my charts, I can let positions run longer and usually end up winning more out of each one.
  • #527
  • Jan 5, 2017 9:43am Jan 5, 2017 9:43am
EURUSD TARGETS (in ascending order)

1.0590 - Hit
1.0650 - Even if price stalls, I doubt it will stop here
1.0690 - Price going there will mean Liquidity above 1.0650 is absorbed
1.0790 - Final target before any serious downside. The move could extend as much as 1.0870
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 52 KB
  • #528
  • Jan 5, 2017 9:49am Jan 5, 2017 9:49am
Quoting WDays
Dropping this off here {image}
Seems I'm always on the wrong side of the trades
Could you please explain better how do we incorporate the "range completion pattern"? How it affects our bias and market structure interpretation, I feel like this is a key element I miss in my understanding of this methodology
thinking outside the box
  • #529
  • Jan 5, 2017 9:50am Jan 5, 2017 9:50am
Quoting WDays
In terms of EU, I see this but expect further upside to 1.0760. There are payrolls tomorrow, so anything can happen at this point. I'm still waiting for liquidity above 1.0650 to be taken. {image}
What do you mean by range completion pattern?
  • #530
  • Jan 5, 2017 10:08am Jan 5, 2017 10:08am
Quoting WDays
EURUSD TARGETS (in ascending order) 1.0590 - Hit 1.0650 - Even if price stalls, I doubt it will stop here 1.0690 - Price going there will mean Liquidity above 1.0650 is absorbed 1.0790 - Final target before any serious downside. The move could extend as much as 1.0870 {image}
Awesome, however how do we, noobies, reach this conclusion that the structure has shifted to bullish and should look for upside targets inside the range completion, sorry If I sound a bit frustrated, because I am, lol.

There's plenty of information In here however its lacking some serious methodology structure. Don't get me wrong, I'm loving everything I'm learning here, but its plenty of moving parts that's getting hard to put together

best regards
thinking outside the box
  • #531
  • Jan 5, 2017 1:33pm Jan 5, 2017 1:33pm
Thank you for this very informative thread
I am following it, I like your precision trading style and am impressed by your results !

I am able to see and reproduce by myself the eurusd targets you mentionned above but I have the same question than Mercennary: how do you know for sure that the structure has shifted to bullish?
I use market structure and 9/18 ema cross on D1/W1 to identify the major trend but I don't see it bullish at this time.

Thanks!
  • #532
  • Jan 5, 2017 3:28pm Jan 5, 2017 3:28pm
Great thread, keep it up guys
  • #533
  • Jan 5, 2017 5:23pm Jan 5, 2017 5:23pm
hi wdays
thanks for your kindness i am new in forex i expecting more clear education in this thread.
  • #534
  • Jan 5, 2017 8:15pm Jan 5, 2017 8:15pm
Quoting WDays
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 {image}
 
Hey Wdays, nice thread here. I use similar methods but am still lacking the confidence to execute quickly. The trade you took in the image you posted caught my eye and made me curious as to why you thought price would be bullish instead of bearish coming out of the consolation/accumulation phase? You entered a position before price made a move.
Gentlemen always play by the rules, if they can't, they change them.
  • #535
  • Jan 6, 2017 3:19am Jan 6, 2017 3:19am
Quoting Bsmile44
{quote} Â Hey Wdays, nice thread here. I use similar methods but am still lacking the confidence to execute quickly. The trade you took in the image you posted caught my eye and made me curious as to why you thought price would be bullish instead of bearish coming out of the consolation/accumulation phase? You entered a position before price made a move.
With your higher timeframe bias in mind, accumulation can be an opportunity to get in rather than something to confuse you
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 61 KB
  • #536
  • Jan 6, 2017 3:24am Jan 6, 2017 3:24am
Quoting Mercennary
{quote} Awesome, however how do we, noobies, reach this conclusion that the structure has shifted to bullish and should look for upside targets inside the range completion, sorry If I sound a bit frustrated, because I am, lol. There's plenty of information In here however its lacking some serious methodology structure. Don't get me wrong, I'm loving everything I'm learning here, but its plenty of moving parts that's getting hard to put together best regards
Quoting damiend
Thank you for this very informative thread I am following it, I like your precision trading style and am impressed by your results ! I am able to see and reproduce by myself the eurusd targets you mentionned above but I have the same question than Mercennary: how do you know for sure that the structure has shifted to bullish? I use market structure and 9/18 ema cross on D1/W1 to identify the major trend but I don't see it bullish at this time. Thanks!

I already explained that a couple of times EU has ran a 10 year low and pulled back. Think of it as part of our counter-trend strategy
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 62 KB
  • #537
  • Jan 6, 2017 3:42am Jan 6, 2017 3:42am
Quoting Mercennary
{quote} Seems I'm always on the wrong side of the trades Could you please explain better how do we incorporate the "range completion pattern"? How it affects our bias and market structure interpretation, I feel like this is a key element I miss in my understanding of this methodology
The reversal has nothing to do with range completion. Range completion is merely something that I use to set targets when trading a trend

It's going to take me longer to explain, so I will do that a bit later.
  • #538
  • Jan 6, 2017 6:42am Jan 6, 2017 6:42am
Trying out some stocks, same analysis rules apply
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  • #539
  • Jan 7, 2017 1:23pm Jan 7, 2017 1:23pm
Quoting WDays
Trying out some stocks, same analysis rules apply {image}
I've been silently watching and learning from your posts, WDays. And what you're teaching is pure gold; thank you!
And while we're talking gold, what do you think of this trade idea:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDiM30 2.png Size: 174 KB

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDiM30.png Size: 128 KB
  • #540
  • Jan 7, 2017 5:12pm Jan 7, 2017 5:12pm
Quoting WDays
Trying out some stocks, same analysis rules apply {image}
r u using Interactive broker?
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