Daily Forex Trading

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
Mira
rank: 1000+ posts
rank: 1000+ posts
Posts: 1414
Joined: Thu Nov 10, 2016 8:37 pm
Reputation: 1449
Gender: Male

Re: Daily Forex Trading

Postby Mira » Wed Apr 18, 2018 5:37 pm

LeMercenaire wrote:Today's landscape...

.DE30.H1asDWZ18thApril18.png


Hi LeM!

Nice chart! :D
Can I ask you where do you enter on a chart like that?
I mean.. the S/D zone was above the current open so the candle was green. I know that it’s just a matter of pips, but you would be trading against colour at that level..

Thanks!!
__________ THE :smt096 IS A LIE__________

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
LeMercenaire
rank: 1000+ posts
rank: 1000+ posts
Posts: 1487
Joined: Tue Sep 27, 2016 12:11 am
Reputation: 1232
Gender: None specified

Re: Daily Forex Trading

Postby LeMercenaire » Wed Apr 18, 2018 6:59 pm

Hi Mira.

There are two main points of entry on that chart. Out of the Supply Zone and out of the Upper Wick Zone.

I always consider DWZ above all else. I look for price to leave that zone. With the Supply Zone above, it's unlikely that I'll see a long move, so I am looking to play short all day.

I will consider the Weekly Open. If I am above and looking at shorts, then I will simply not look to hold anything for any length of time (which I never do anyway, so it's kind of moot).

Daily Open is of secondary interest.

OK, so now here's the shocker...you may want to be sitting down for this...I very rarely pay attention to other candle colour \:D/ ...

Well, that's not strictly true. I will know what the H4 is if I'm looking at the H1. However, running WZ means that I am constantly running contrary to the previous candle (I very rarely trade H / L breaks) and that takes precedence over everything else. Other candle colour is just a small part of what I scan as I decide whether to go in or not - and in fact, probably plays more of a part in how I exit a trade, not enter. Going against an H4 colour would make for the likelihood of a shorter trade than one going with that colour.

What I am trying to say is, it doesn't stop me from entering if all else I look at lines up for me.

I don't think I ever consider Weekly or Monthly colour. H4 for H1 is as far as it goes.

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Thu Apr 19, 2018 1:51 am

e-mini-dow was sandwiched between 24800 and 24700 today took the dip out of an SnD Zone at 24700. Sometimes I jump the gun and don't wait for a proper candle close for confirmation that usually leads me to trouble... patience is rewarded with many pips :) interesting to note the higher volume on the bearish candle that lead into the bounce
Attachments
YMrangeboundreversal.png
YMrangeboundreversal.png (22.54 KiB) Viewed 578 times

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Fri Apr 20, 2018 3:33 am

Thursday had a tempting entry point when it bounce off of 24600 just before my allotted hour had started, and the other actual entry came late in the hour. another interesting spot to check for is the close of the market 14:30-15:00(GMT-5) there is higher volume than the open of the market.
Attachments
YMrangebounceshort4-19.png
YMrangebounceshort4-19.png (24.15 KiB) Viewed 535 times

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Fri Apr 20, 2018 2:27 pm

This trade was a little different as it did not involve a session extreme, but it did involve the "W" bounce.. I've learned to be wary of pin bars early in the session. none the less, all signs pointed towards the downside, bear break of the range before the session, inability to break 600 (twice), close above line and close below :smt117 Happy Friday everyone, enjoy the beautiful weather if you have any.
Attachments
YM-Wbounce4-20.png
YM-Wbounce4-20.png (22.47 KiB) Viewed 524 times

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Mon Apr 23, 2018 3:22 pm

dirty birdy today had 2 entry points today, unfortunately my stop was too tight on the first one, oh well..
Attachments
YM2tradesmakeup4-23-18.png
YM2tradesmakeup4-23-18.png (35.08 KiB) Viewed 465 times

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Tue Apr 24, 2018 3:49 pm

Quite risky today, but I followed the rules. close below 400 then a test to a 20 pip bounce away. I took that as a valid short entry, and kept my stops tight:)
Attachments
YMbouncesell4-24-18.png
YMbouncesell4-24-18.png (23.76 KiB) Viewed 437 times

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Wed Apr 25, 2018 3:58 pm

sold 5 min after open big selling pressure off the 000 level
Attachments
YM5minafteropenbirthdaysell4-25-18.png
YM5minafteropenbirthdaysell4-25-18.png (28.78 KiB) Viewed 390 times

User avatar
LeMercenaire
rank: 1000+ posts
rank: 1000+ posts
Posts: 1487
Joined: Tue Sep 27, 2016 12:11 am
Reputation: 1232
Gender: None specified

Re: Daily Forex Trading

Postby LeMercenaire » Wed Apr 25, 2018 5:40 pm

[quote="achooblessyou"]sold 5 min after open big selling pressure off the 000 level[/quote]

Buon Compleanno!

User avatar
achooblessyou
rank: 150+ posts
rank: 150+ posts
Posts: 195
Joined: Tue Dec 05, 2017 6:10 pm
Reputation: 163
Gender: None specified

Re: Daily Forex Trading

Postby achooblessyou » Wed Apr 25, 2018 6:20 pm

LeMercenaire wrote:[quote="achooblessyou"]sold 5 min after open big selling pressure off the 000 level


Buon Compleanno![/quote]
Thanks Lem! i can now buy myself a beer.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”