Journey of the ES - Wannalearn12

[LeMercenaire]

Here ya go Lem, a perfect zline set up.

Yep, so in that situation, I would WZ it long (back into the breakout candle) and then would take the retrace if I felt like it.

Now I know the Z-Line set-up, I'd be more inclined to be willing to hold the retrace longer.

Sweet, thanks.

[Mr. Hyde]

Here ya go Lem, a perfect zline set up.

Yep, so in that situation, I would WZ it long (back into the breakout candle) and then would take the retrace if I felt like it.

Now I know the Z-Line set-up, I'd be more inclined to be willing to hold the retrace longer.

Sweet, thanks.

Hey for all that you have given me, it is the lest I can do. If you have any other questions feel free to ask.

[Mr. Hyde]

Shorted at 2738. 1st target is 2728, closing the gap. 2nd target 2715. Its 15m and 4hr demand levels and R turned posiible support on the daily.

Haha, 10 points off of the 1st target and 20 on the second, with only a 2 point stop. Then took the long at 9 est open for a quick 2 pts, DC style.

Then I played the break of the 9am candle wannalearn style for almost another 10 point and then took it long cuz of the equal candles for another 4.

[LeMercenaire]

A straightforward Flip this evening. Hovered around for a bit just to wind up the nervous before turning back in and bagging easily.

500-Flip (18:00 Flips 17:00)

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Detail

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[Mr. Hyde]

Man the ES was sweet yesterday. The blue line is just a 1hr breakout, but then we had the bearish engulfing bar and supply zone. So I got in at 2712 and out at 08. Wasn't sure if at that level it would retace up, but I had a feeling it might retest the low so I put in a sell order at 07 (based on a red candle on the 15). Broke down through that and took profit just before the low. Then for the flip saw we had the 5m supply still above and had 2 red candles one being a pin bar, sold the low and got out above the low again.

[Mr. Hyde]

hey Lem you ever heard of the "real deal" trade setup. Its out a Kathy Lein's book. Basically its a high (low) set during the Frankfurt 1hr open, price then reverses and makes a low (high). Then the setup is to sell the break of the extreme that was set during the Frankfurt open. I believe is had a 20 pip sl and 40 pip target.

I only ask cuz supposedly its based on UK traders looking at the books and running price one way and then the other to clear all the stops out and then moving price in their direction.

Figured I would ask since you had been there and done that.

[LeMercenaire]

[color=#FF0000]hey Lem you ever heard of the "real deal" trade setup[/color]. Its out a Kathy Lein's book. Basically its a high (low) set during the Frankfurt 1hr open, price then reverses and makes a low (high). Then the setup is to sell the break of the extreme that was set during the Frankfurt open. I believe is had a 20 pip sl and 40 pip target.

I only ask cuz supposedly its based on UK traders looking at the books and running price one way and then the other to clear all the stops out and then moving price in their direction.

Figured I would ask since you had been there and done that.

Haven't heard it called that but it's a pretty standard move. It can overlap with The K-Gap, which works on the same underlying principle of move and reverse and I used a variant of it for my FrankenBreak. That took contraction overnight leading into the Frankie Open and ran what wasn't far off a Buy Zone from the m15 tf.

You've got to get up an hour earlier though

[LeMercenaire]

[color=#FF0000]hey Lem you ever heard of the "real deal" trade setup[/color]. Its out a Kathy Lein's book. Basically its a high (low) set during the Frankfurt 1hr open, price then reverses and makes a low (high). Then the setup is to sell the break of the extreme that was set during the Frankfurt open. I believe is had a 20 pip sl and 40 pip target.

I only ask cuz supposedly its based on UK traders looking at the books and running price one way and then the other to clear all the stops out and then moving price in their direction.

Figured I would ask since you had been there and done that.

Haven't heard it called that but it's a pretty standard move. It can overlap with The K-Gap, which works on the same underlying principle of move and reverse and I used a variant of it for my FrankenBreak. That took contraction overnight leading into the Frankie Open and ran what wasn't far off a Buy Zone from the m15 tf.

You've got to get up an hour earlier though

In fact, if I think about it, I'm probably taking advantage of this when I run my DAX-Monster trade in the morning. WZ over the 2-Hr block 06:00 - 08:00 uk time. I look for a move back inside the block as a reaction to the previous candle's direction.

Sheer insanity the speed it moves at but as I said, my drug of choice.

[Mr. Hyde]

[color=#FF0000]hey Lem you ever heard of the "real deal" trade setup[/color]. Its out a Kathy Lein's book. Basically its a high (low) set during the Frankfurt 1hr open, price then reverses and makes a low (high). Then the setup is to sell the break of the extreme that was set during the Frankfurt open. I believe is had a 20 pip sl and 40 pip target.

I only ask cuz supposedly its based on UK traders looking at the books and running price one way and then the other to clear all the stops out and then moving price in their direction.

Figured I would ask since you had been there and done that.

Haven't heard it called that but it's a pretty standard move. It can overlap with The K-Gap, which works on the same underlying principle of move and reverse and I used a variant of it for my FrankenBreak. That took contraction overnight leading into the Frankie Open and ran what wasn't far off a Buy Zone from the m15 tf.

You've got to get up an hour earlier though

In fact, if I think about it, I'm probably taking advantage of this when I run my DAX-Monster trade in the morning. WZ over the 2-Hr block 06:00 - 08:00 uk time. I look for a move back inside the block as a reaction to the previous candle's direction.

Sheer insanity the speed it moves at but as I said, my drug of choice.

Ah no biggie as Im already up from trading the Asian session. I figured you would be familiar to it or something like it.

I remember you mentioning the Frankenbreak once before. Is that what you used on EG?

[Mr. Hyde]

took the short DC style at 8am close. but you can see the nice support level. So when we got a green candle I took that long to cover the lost, then took the break of the open of the 8am candle, then also took the break of the 15m bar once 9:30 hit. Out at 14.5 for 2/3's of my positions.

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Lem you turned me into a ES addict.