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  • #3,501
  • May 11, 2017 10:32am May 11, 2017 10:32am
Quoting hal7
{quote} It could be the trading gods are aligning against you this morning. There is a lot of news on the horizon so would be cautious today. Also some days are just funky and you have to be more selective. As far as the stop loss question you posed. I do try to avoid the larger ones yes. But sometimes I do take them. I don't focus on them primarily but pay more attention to what price is doing. You might ask TooSlow about rules that state never take a trade with more than 15 sl or a specific 3:1 trade ratio. He cautioned...

Gotcha.
Thanks for the insight.

I have yet to see the big difference between pairs that have freight trains and others that dont.
I dont see much of difference on result for some reason.
  • #3,502
  • May 11, 2017 10:35am May 11, 2017 10:35am
Quoting lemercenaire
{quote} How does the Swiss National Bank Manipulate this? Some articles that explain it better than I could... https://en.wikipedia.org/wiki/Currency_intervention https://www.snb.ch/en/iabout/monpol/id/qas_gp_ums_1 http://www.zerohedge.com/news/2017-0...ipulation-2016 http://sevenpillarsinstitute.org/cas...y-intervention http://www.economist.com/blogs/econo...st-explains-13

Thanks will read up!
  • #3,503
  • May 11, 2017 10:38am May 11, 2017 10:38am
Quoting lemercenaire
{quote} How do you use SL with sweetspots? It's simply that SweetSpots on a chart gives a really quick visual guide as to where price is in relation to your entry, as sometimes getting in on a fast-moving trade means that there is no time to initially set up a hard-stop. Plus it makes it easy to see all those Big Round Numbers etc., which are significant sl and tp levels for many.

gotcha
makes alot of sense thank you!
  • #3,504
  • May 11, 2017 11:17am May 11, 2017 11:17am
Attached Image (click to enlarge)
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Took this CF north, +5 profit locked.
  • #3,505
  • May 11, 2017 11:27am May 11, 2017 11:27am
Quoting hal7
{image} Took this CF north, +5 profit locked.
i observed this too.

but did make a new low previous bar too, we would've gotten stomped no?
  • #3,506
  • May 11, 2017 11:35am May 11, 2017 11:35am
Yep that one would have lost, looks like like it got 3 pips.
  • #3,507
  • May 11, 2017 11:57am May 11, 2017 11:57am
Quoting faatkumo
{quote} i observed this too. but did make a new low previous bar too, we would've gotten stomped no?
Hi FK. To butt in here (apologies, Hal!), I have pulled out a bit to show how you could have had a hint (not definite but a hint) that there was maybe still room to move South before a turn.

Attached Image (click to enlarge)
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  • #3,508
  • May 11, 2017 1:17pm May 11, 2017 1:17pm
Quoting lemercenaire
{quote} Hi FK. To butt in here (apologies, Hal!), I have pulled out a bit to show how you could have had a hint (not definite but a hint) that there was maybe still room to move South before a turn. {image}


so are you saying the more the new LOW was in the Green area, the higher probability the price will reverse and go north?
  • #3,509
  • May 11, 2017 1:32pm May 11, 2017 1:32pm
Quoting faatkumo
{quote} so are you saying the more the new LOW was in the Green area, the higher probability the price will reverse and go north?
Yes, pretty much. I find that if price is getting to or just inside, there is a greater chance that it will turn. A caveat to that, is that the farther price moves into the Supply or Demand zones, the more chance is that it will either stick in there for a while, or move on through the other side. Look around for Pivot-Points in the area also.
  • #3,510
  • May 11, 2017 1:41pm May 11, 2017 1:41pm
Quoting faatkumo
{quote} so are you saying the more the new LOW was in the Green area, the higher probability the price will reverse and go north?
I'll give you a good example from today on the US500 (S&P).

It's actually a chart from my Dead Zone - and ignore that part of it - but I have changed it to bars to tie it in to 1-2-3 and perhaps make it easier to see.

Attached Image (click to enlarge)
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  • #3,511
  • May 11, 2017 2:17pm May 11, 2017 2:17pm
I love the simplicity of this strategy, however what I haven't yet grasped is rule 2, "Did this bar test the High or Low of the last bar".
What constitutes a test ? Is that 5 pips from the high, 10 pips, 50% of the difference between the 2 .......?
I notice that on some examples the current bar continues away from the high of the previous bar and never reverses past its open to test the previous candle.

In the screen shot above the candle after the low hardly dropped more than a few pips.

Can anyone add some clarity on this ??
  • #3,512
  • May 11, 2017 2:28pm May 11, 2017 2:28pm
Quoting lemercenaire
{quote} I'll give you a good example from today on the US500 (S&P). It's actually a chart from my Dead Zone - and ignore that part of it - but I have changed it to bars to tie it in to 1-2-3 and perhaps make it easier to see. {image}
so where the wick bottom touches the shaded areas is a good place to acknowledge a trigger?
  • #3,513
  • May 11, 2017 2:49pm May 11, 2017 2:49pm
Quoting faatkumo
{quote} so where the wick bottom touches the shaded areas is a good place to acknowledge a trigger?
Simply imagine the edge of the zone as a single line and watch as price crosses and comes back out over that line.

I don't want to wind anyone up here at FF Central, or end up getting us shoved in the Commercial Section, so I won't post direct links. However, if you Google ''trading supply and demand zones in forex'', you will find a number of useful articles and sites on the subject, most of which are very new-trader friendly.
  • #3,514
  • May 11, 2017 2:55pm May 11, 2017 2:55pm
Quoting stan3188
I love the simplicity of this strategy, however what I haven't yet grasped is rule 2, "Did this bar test the High or Low of the last bar". What constitutes a test ? Is that 5 pips from the high, 10 pips, 50% of the difference between the 2 .......? I notice that on some examples the current bar continues away from the high of the previous bar and never reverses past its open to test the previous candle. In the screen shot above the candle after the low hardly dropped more than a few pips. Can anyone add some clarity on this ??
Sure. Don't over-think it. Read it instead as something like this:

''Did the second bar make a new high / low?''

If it doesn't, then enter as price passes back over the entry of the second bar.

Now...obviously, there will be situations where price will go to a new high / low after you've entered - but that's all in the game. We play it out. Keep stops tight and then look to re-enter on the next signal (if / when it comes).
  • #3,515
  • May 11, 2017 2:55pm May 11, 2017 2:55pm
Quoting stan3188
I love the simplicity of this strategy, however what I haven't yet grasped is rule 2, "Did this bar test the High or Low of the last bar". What constitutes a test ? Is that 5 pips from the high, 10 pips, 50% of the difference between the 2 .......? I notice that on some examples the current bar continues away from the high of the previous bar and never reverses past its open to test the previous candle. In the screen shot above the candle after the low hardly dropped more than a few pips. Can anyone add some clarity on this ??
I would say any type of movement toward that high or low even a fraction of a pip is a test. When that fails, that is the go signal. I don't always automatically take the trade because I am looking at a variety of conditions in the market at the time but that is my test.
  • #3,516
  • May 11, 2017 3:25pm May 11, 2017 3:25pm
A restricted day at the screens for me today but just for the record, here's how The Weird Bunch looked through the day. Some hefty moves about...

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  • #3,517
  • May 11, 2017 3:36pm May 11, 2017 3:36pm
So, here's one that will be interesting for us. It gives us what looks like a set-up but as discussed earlier above, price is deep inside the zone. So will we get a turn, or is it going to sit up in there for a while before making up its mind? The H4 and Daily time-frames might suggest a turn, albeit not a huge one.

Watch this space (I won't be trading this, just watching for now and will check tomorrow for the result).

Attached Image (click to enlarge)
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  • #3,518
  • May 11, 2017 3:38pm May 11, 2017 3:38pm
Is this strategy good for Tokyo Open? 6pm gmt
  • #3,519
  • May 11, 2017 3:45pm May 11, 2017 3:45pm
Quoting hal7
{quote} I would say any type of movement toward that high or low even a fraction of a pip is a test. When that fails, that is the go signal. I don't always automatically take the trade because I am looking at a variety of conditions in the market at the time but that is my test.

What other conditions?
I feel like now there are other things that must be considered
  • #3,520
  • May 11, 2017 3:59pm May 11, 2017 3:59pm
Quoting faatkumo
Is this strategy good for Tokyo Open? 6pm gmt
Well TooSlow works that session and he seems to do ok .
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