PA, S/R, ZL, EXTREMES & MOMO

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newscalper
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Postby newscalper » Fri Jun 17, 2011 9:36 am

Long EU
Charts to follow when photobucket plays ball
Daily pin bar at support
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H4 CC close under and over, also noted H4 momo bar up
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15 minute entry chart
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Entry and trade so far, expecting it to pullback a bit and then continue, target the daily zline from above
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Postby poipen » Fri Jun 17, 2011 10:34 am

One of the things i love the most about this, is when you draw your
levels/lines at the beginning of the week/month and see them honored just as you planned.
It can only be described as a thing of beauty :)

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Wise Men Know Their Limits, Great Men Have No Limits.

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newscalper
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Postby newscalper » Fri Jun 17, 2011 11:38 am

Closed +116 hitting H1 supply and not breaking through

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newscalper
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Postby newscalper » Thu Jun 23, 2011 12:03 pm

Got in on the short on EU last night - almost to the pip. I've a questino for you guys on that one though.
Today:
Long on EU, this entry is a nutter:
Hourly trend down but coming into 4hr demand, for further shorts need a large pullback, or take the long. I took the long
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Entered on double bottom on the 1 minute
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Right - question about yesterdays short. I rode it from top to bottom but with only one position on. There were pull-backs but it didn't pull-back as far as the zones (what I saw 1 hr trend, 15 minute zones for pullback entries) - which shows people were selling before price got there. In that situation how do you guys add?

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newscalper
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Postby newscalper » Thu Jun 23, 2011 12:23 pm

Closed for b/e

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Postby Belkin » Thu Jun 23, 2011 1:08 pm

My blind mouse trades of the week
This approach kicks ass. I can only imagine what can be done if it do this from a month or year chart. Anyways i took 200pips and waiting for 100 more. COOL!

GU sell
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EJ sell
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EU sell
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Got out early on EU but its okay.

Comments will be well recieved.

Thanks

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newscalper
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Postby newscalper » Thu Jun 23, 2011 6:04 pm

EU trade's a good one - I got in earlier on it up at supply off the 15 min chart but yes there was the risk of it bouncing off where your blue line is and coming back.

I'm back in long on EU now from 41560 - 15 minute 3CC entry at demand this time rather than trying to pre-empt it. A few pips up at the moment. Waiting to see if it overcomes the areas above before I'll see if I get a chance to add.

From my perspective I'm almost starting to see that I need to watch PA firstly and then secondly see if it lines up with a good s\d area, doing it the other way round for me I end up looking at great areas that price never gets to, turns around and then trends away. Doing it 'backwards' seems to be working better although I need to test this out over time.
Last edited by newscalper on Thu Jun 23, 2011 6:40 pm, edited 1 time in total.

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newscalper
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Postby newscalper » Thu Jun 23, 2011 6:10 pm

Image

I've also opened up a midget account up at OandA so I can play with this with no pressure on.

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Postby MightyOne » Thu Jun 23, 2011 6:47 pm

Your position has nothing to do with your entry and everything
to do with space.

When you "add" to a position you are reducing space & when the
the market moves in your favor or the position is reduced then space
is increased.

The question is not what technical event signals additions but at what
price you want to be short from (additions drop the position closer to
the current price).

CC defines support/resistance & support/resistance defines how close
you can get to the current price.

If the market is moving slowly (stalling?) then sell slowly; I will reduce
my space by 20-30% when I am waiting for price to continue the trend.

If the market is moving quickly then I sell quickly & if price looks like it
is going to runaway in my favor then I will temporarily reduce my space by 40-60%.

There are a lot of tricks that you can use when thinking in terms of space that I do not have time
to cover right now, but I will say that, short of price closing over an IF/THEN of progressively higher timeframes, the chart is irrelevant.

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Postby FXfreak » Thu Jun 23, 2011 8:13 pm

MO, i have a question: the quick move that started an hour ago was very fast. i saw a one-minute-candle with a size of 40 pips...

but the question is: why was the move so quick? was it a lack of liquidity or just huge buy orders? or both?

the answer is interesting because if that move was mainly based on a lack of liquidity then the sellers are still in okay. if these were huge buy orders then a reversal is more likely.

i was a bit surprised that a 40-pip-spike happened because normally big orders are not that obvious...

thanks!!

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