Daily Forex Trading

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 3:43 pm

Watched (ok, had a price-alert set up on it) this one move this afternoon.

How's that for a Z-Line bounce!?

NZDUSDM5howsthatforaZ-Line13thSept18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 3:46 pm

Mira wrote:
LeMercenaire wrote:Could have a playful day running bouncey-bouncey trades tomorrow...

EURJPYH1potentialbouncey-bouncey12thSept18.png


What trigger are you using for these setups, LeM?
Thank you!
:D


The H1 gives me the S+D limits to work with. I then drop down to the m5 / m15 and look for the same at the micro level. I enter off the reactions around those.

That fine tunes the entry - though I will have the major levels marked as an overlay on the lower time-frames.

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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 4:51 pm

The second bounce is off nicely as well...

NZDUSDM5assecondboince13thSept18.png
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Fib added...

NZDUSDM5cwfib13thSept18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 6:07 pm

A lovely 50-Fib cw Z-Line Kill-Zone formed here...

AUDCADH4another50-Fibrebound-cw-Z-Line13thsept18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 6:28 pm

This has got to go on the Watch-List for tomorrow. Hefty rebound territory.

EURUSDDaily-Rebound-Anyone13thSept18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 8:18 pm

How about a bounce?

USDCHFH4bouncetime13thept18S.png
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USDCHFH4wideview13thSept18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 8:31 pm

LeMercenaire wrote:Now that's what I call a dip into Demand!

USDCNHH1nowthatsadipintoDemand12thSept18.png


A follow up on that wild ride. Interesting shapes come out of this market, lol...

USDCNHH1thatbouncedrathernicely13thSept18.png
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Mira
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Re: Daily Forex Trading

Postby Mira » Thu Sep 13, 2018 8:48 pm

LeMercenaire wrote:
Mira wrote:
LeMercenaire wrote:Could have a playful day running bouncey-bouncey trades tomorrow...

EURJPYH1potentialbouncey-bouncey12thSept18.png


What trigger are you using for these setups, LeM?
Thank you!
:D


The H1 gives me the S+D limits to work with. I then drop down to the m5 / m15 and look for the same at the micro level. I enter off the reactions around those.

That fine tunes the entry - though I will have the major levels marked as an overlay on the lower time-frames.


LeM

Do you consider the opposite S/D zones (lower time frame) as a barrier?
Thank you!
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Sep 13, 2018 9:07 pm

Mira wrote:
LeMercenaire wrote:
Mira wrote:
What trigger are you using for these setups, LeM?
Thank you!
:D


The H1 gives me the S+D limits to work with. I then drop down to the m5 / m15 and look for the same at the micro level. I enter off the reactions around those.

That fine tunes the entry - though I will have the major levels marked as an overlay on the lower time-frames.


LeM

Do you consider the opposite S/D zones (lower time frame) as a barrier?

[i]Thank you![/i]


I always consider the H4 / H1 zones to be solid - the ones that drive the overall picture. As I drop down, the lower tf zones can form around the edges of those larger tf zones. I think of those like rumble-strips, slowing down but not necessarily stopping price dead as it gets to the larger levels.

However, down on those lower time-frames, there will be zones that form as standalone elements. These zones are obviously not as solid, robust, or long-lasting as the large tf ones, however they tend to form as price passes a level and they form behind that level. These then form pull-back zones and I use those as add-in / stacking points.

If price does go back through those, then that then can be a good early warning that you could be having a major turn.

The ones that will cause a bounce/rebound effect tend to occur once momentum and / or volume have declined. These are great scalping opportunities - so long as one stays aware to the fact that price can blow a gasket and bust out of that channel at any time.

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Re: Daily Forex Trading

Postby Mira » Fri Sep 14, 2018 7:31 am

LeMercenaire wrote:
Mira wrote:
LeMercenaire wrote:
The H1 gives me the S+D limits to work with. I then drop down to the m5 / m15 and look for the same at the micro level. I enter off the reactions around those.

That fine tunes the entry - though I will have the major levels marked as an overlay on the lower time-frames.


LeM

Do you consider the opposite S/D zones (lower time frame) as a barrier?

[i]Thank you![/i]


I always consider the H4 / H1 zones to be solid - the ones that drive the overall picture. As I drop down, the lower tf zones can form around the edges of those larger tf zones. I think of those like rumble-strips, slowing down but not necessarily stopping price dead as it gets to the larger levels.

However, down on those lower time-frames, there will be zones that form as standalone elements. These zones are obviously not as solid, robust, or long-lasting as the large tf ones, however they tend to form as price passes a level and they form behind that level. These then form pull-back zones and I use those as add-in / stacking points.

If price does go back through those, then that then can be a good early warning that you could be having a major turn.

The ones that will cause a bounce/rebound effect tend to occur once momentum and / or volume have declined. These are great scalping opportunities - so long as one stays aware to the fact that price can blow a gasket and bust out of that channel at any time.



Very clear! Since I’m using S/D zones to place my stops (as you suggested me) I’m doing a similar process :shock:

However I often don’t understand targets.
Fibo projections work, but choosing the right one is not that simple :roll: do you use a particular PA to decide when to kill the trade? Or do you use a take profit?

Sorry for all the questions LeM, and thank you for your help!
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