Breakout London Timeframe

Hi Monokl,
Thanks for the great view its quite similar to mine. I really don’t like ranging markets I prefer reversals and trends. So on the ranging GBP as I am bullish I would wait to hit the bottom of the range or even more as Cad is a very stable currency these days. Basically I follow the trends with the price action and most of the time wait for big price extremes so I can enter the opposite when the new trend starts to develop so I can hold my positions and then let them go for a few days while I search for the next good opportunity. Just took a look at the GBPNZD chart i think you entered on the right direction but a bit early reading the price action. But we have big news coming today on the GBP which are expected bullish so things could get really strong in your direction

Hi Monokl,
GBPNZD looks bearish to me
W1 down trend
D1 ranging and today candlestick just hit my S&R
H1 seems forming BPC
May i know which area you long GBPNZD?

Here is my W1,D1 & H1 GBPNZD Chart

Hi Ivy,

thank you for thought
any catching yesterday?
i only manage to get EG

Hi Monokl,
Yesterday I only Short USDJPY +54pips

EurGBP

My latest entry.
Still survive from yesterday

EURCHF

Is there any chances it will go south?

AUDJPY

Could it go north straight away?
I took this trade since morning until now....very slow movement. is too tired????

GbpUSD

This is my thought on this pair.
Expected it reversal.

Hi Ivy,

Any trade for tonight?
Do you trade this UCad?

It is very nice downtrend for this week. Now, it is heading up.

My GU has triggered. now up 12pips.
Let it run first. later got major news. Don't know what will happen.

it is moving up to my direction.
Low risk High Return
this is one of my LIVE trading..

EURUSD

I didn't take this trade.
But, you can see the price move down first, then up back.
it wipe all the short seller at the blue area which is almost 18pips.

@GU already take 60% of profit, cover my losses on EChf

EURCAD

could this bring me more pips today, Friday??

EURNZD

Aiyohh!! I miss this pair...

Down like rocket launcher!!!!!

Did anyone manage to jump in this pair??

EURNZD

Could it reversal the price to up??

@EC lose 13pips

Hi Monokl,
I do take note on UC but not trade. I'm seldom trading with news
I'm not good on trading with news
Green pips to you

Monokl
This is a very nice trade. I would just say that the exit is too far away. It might indeed go there, but you have to be willing / you account has to be capitalized enough to buy even lower.


As it played out, (yes I agree, I have the benefit of hindsight now) your trade was right until it was rejected by this wick


I do believe that the reason for that is that what caused the spike upwards (which you correctly were able to see/identify/predict) is the white congestion zone.
Unfortunately (for your T/P) this zone is not strong enough to push to your T/P, which is undeniably above a fairly heavily traded zone (by that I mean, lots of trading during a long time).
The yellow box is a better level because it has lasted longer. This also means that higher time frame traders like 4h and Daily will actually see it and identify it and trade a possible re-bounce off of it.
Here is how I see possibilities:


I'd still safely get out at 1.47400 or so.
Mind you that on the weekly we are getting close to a top, which will have to become bottom at some point at 1.44155. This is something to keep in the back of your mind, since it will attract the price to there.


Here is how I'd do it:

I have never traded this pair before but I think I have a quite horrible spread on it. If I get something like 1.5-2.5 pips spread, then I might add it to my list of tradeable stuff. Because this looks ripe for a good up-move both on the H1 and maybe in a month a complete reversal.

Watch my video if you want to know how I place my orders.
Cheers and many green pips on this one!

See that's a thing. The place where you have your stop on htis one is where I have my sell limit waiting. You are just providing liquidity to sellers with your obvious stop loss (which is a buy order). To trap or t get trapped.
Admittedely, I would have gotten stopped out even with a sell limit. Why? Because of the Daily:
In my green box, when you see the candle up, I know what you are thinking: "man it has to come down". And you are right, empty spaces must get filled. But the problem is, if this just a stop hunt, or if there is a higher Time Frame level which is attracting price like a magnet. Here it is Zone 2 on my chart. I have blacked out the future, so you can get used to seeing the stup a bit before it happens. Train your eyes like that. See a setup, the reverse engineer it to make your vision better. It is a huge zone and this pair is very volatile.
http://prntscr.com/e4qo1c


I think you are doing great. Just don't forget the higher time frames. What helps is to zoom out to the maximum on the H1 so that you can see the Daily. You will have trouble trading the H1 only. Weekly and Daily give you the direction and H1 the entry zones and maybe M30 for a bit more fun. And if you don't see a direction on the Daily or Weekly, just take another pair. If you have no intuition about it don't trade it and certainly don't start putting indicators on the chart. You don't feel it? Don't trade it. You will feel at least on or two other pairs and if the lots I see you trading are real money, you are making enough to live a comfortable life.

What helped my intuition is to put a 1 period moving average on the closing price. So in the end I have the line chart. Then I make the candles all the same colour. And as such they are just indicators of volatility and I can see where people have their stops. What was also helpful is to get rid of the black background screen in the standard screen settings. It's too agressive with the green candles, too flashy. White is flashy, too.
here are my settings:
http://prntscr.com/e4qo9t


Don't cause pain to yourself, let your intuition grow under the most favourable circumstances. Cultivate your intuition, nurture it like a child. No system will ever be able to beat intuition in the markets because a system is created by the rational mind. Intuition is the true understanding of everything.

I wish you a good next week in the markets and start shorting that GBPJPY, until 138.5xx with a wide stop.
Cheers

Hi Bg_Sunny,

Great info & advice from you!
Hope to hear more from your calling trade

From Daily, it is clearly in down trend and coming to critical area. Almost reach the support.



From hourly, I trade it against the trend on Friday. I still hang on it. i should close some on Friday, bank in some
Now , the price reach almost my entry. Have to wait for the MOnday open.
Of course, if I trade down, it would be much more easier.

Don't know Monday will gap up or gap down?