Daily Forex Trading

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 8:09 am

Mira wrote:
LeMercenaire wrote:
Mira wrote:
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!


The main ones I use as tp points are the 50-fib, micro S+D and Daily Pivot. If I have been playing off a Z-Line, then obviously that has its own set of rules.

As price runs, my first overall concern is my +5%. Once I have that, I don't really care how I exit. If I have that, then I will look for any add-in opportunities (those micro S+D Zones) but always with one eye on the nearest, most relevant, 50-Fib.

PA does play a part, lower highs, higher lows etc.

There's no one way to bag-and-bail, it's always fluid with me (once I get the +5).

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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 8:12 am

Everyone's waiting on The Prince Of Darkness to emerge from his crypt...

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Mira
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Re: Daily Forex Trading

Postby Mira » Fri Sep 14, 2018 10:06 am

LeMercenaire wrote:
Mira wrote:
LeMercenaire wrote:
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!


The main ones I use as tp points are the 50-fib, micro S+D and Daily Pivot. If I have been playing off a Z-Line, then obviously that has its own set of rules.

As price runs, my first overall concern is my +5%. Once I have that, I don't really care how I exit. If I have that, then I will look for any add-in opportunities (those micro S+D Zones) but always with one eye on the nearest, most relevant, 50-Fib.

PA does play a part, lower highs, higher lows etc.

There's no one way to bag-and-bail, it's always fluid with me (once I get the +5).


Thanks!
So we can say that targets are quite “personal”.. not easy.

I’m going to make some attempt,let’s see :D
__________ THE :smt096 IS A LIE__________

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Re: Daily Forex Trading

Postby Mira » Fri Sep 14, 2018 1:31 pm

1 minute at the open.

H4 Demand + Dragon Line (support)

#VXXH4 a.png
#VXXH4 a.png (40.41 KiB) Viewed 209 times


Waiting for a sign on M30

#VXXM30 b.png
#VXXM30 b.png (33.29 KiB) Viewed 209 times
__________ THE :smt096 IS A LIE__________

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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 4:51 pm

Mira wrote:1 minute at the open.

H4 Demand + Dragon Line (support)

#VXXH4 a.png

Waiting for a sign on M30

#VXXM30 b.png


How'd it play out, Mira?

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Re: Daily Forex Trading

Postby Mira » Fri Sep 14, 2018 5:54 pm

LeMercenaire wrote:
Mira wrote:1 minute at the open.

H4 Demand + Dragon Line (support)

#VXXH4 a.png

Waiting for a sign on M30

#VXXM30 b.png


How'd it play out, Mira?


LOL I gave up on this zone.
And this is the third day that VXX doesn’t give me an entry.

I don’t know.. it makes weird things, as you wrote.
This s**t has a strange logic :shock:

Look at the monthly chart :lol:

8D3D6217-0A32-4C56-A8A9-1922C2C1B683.png
8D3D6217-0A32-4C56-A8A9-1922C2C1B683.png (57.81 KiB) Viewed 183 times
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Re: Daily Forex Trading

Postby Leoheart » Fri Sep 14, 2018 6:39 pm

Mira wrote:
LeMercenaire wrote:
Mira wrote:1 minute at the open.

H4 Demand + Dragon Line (support)

#VXXH4 a.png

Waiting for a sign on M30

#VXXM30 b.png


How'd it play out, Mira?


LOL I gave up on this zone.
And this is the third day that VXX doesn’t give me an entry.

I don’t know.. it makes weird things, as you wrote.
This s**t has a strange logic :shock:

Look at the monthly chart :lol:

8D3D6217-0A32-4C56-A8A9-1922C2C1B683.png


Just at glance that doesn’t look right. If it is, totally new PA for my taste - accumlating for about 10 years LoL. Enough, Enough time to go back up take some greedy traders out.

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 6:49 pm

Mira wrote:
LeMercenaire wrote:
Mira wrote:1 minute at the open.

H4 Demand + Dragon Line (support)

#VXXH4 a.png

Waiting for a sign on M30

#VXXM30 b.png


How'd it play out, Mira?


LOL I gave up on this zone.
And this is the third day that VXX doesn’t give me an entry.

I don’t know.. it makes weird things, as you wrote.
This s**t has a strange logic :shock:

Look at the monthly chart
:lol:

8D3D6217-0A32-4C56-A8A9-1922C2C1B683.png


Now that's what you call a repeatable pattern, lol.

I can see how I'd play that if it was on a lower time-frame but to do it on the monthly, you'd die of boredom before anything happened, as you'd be waiting on one event per cycle.

This makes for interesting reading, lol...

https://blogs.cfainstitute.org/investor ... the-world/

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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 6:52 pm

You guys are making the mistake of thinking that this thing is like FX, nothing could be farther from the truth.

The above article is somewhat biased, with the probability that the author is ticked off, having lost his house.

For a more serious (very serious) look at what the VXX actually is, read this:

https://steadyoptions.com/articles/the- ... -vxx-r289/

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Re: Daily Forex Trading

Postby LeMercenaire » Fri Sep 14, 2018 6:53 pm


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