PA, S/R, ZL, EXTREMES & MOMO

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cfabian
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Postby cfabian » Thu Mar 10, 2011 2:45 am

FXfreak wrote:
cfabian wrote:
FXfreak wrote:short eu 35....

Image


FXfreak, same here... you just saw the break of that area and placed your stop order there with no confirmation?

I mean, this trade was laser accurate, but shorting there was risky to me because at that moment there was a big momo bar to the long side, price retraced to the MZ of that candle and a continuation to the long side was suggested. However it stopped right at your entry and had a move of 50 pips.

Regards



what i was thinking:

- on the left side there is a supply-area
- we had 3 wicks on m5 already which showed me that a reversal was possible
- it is a sell zone based on TROs understanding
- although price could have gone higher there was no real risk that price would go for 100s of pips to the north
- IF price would have gone higher i was sure that in 99% the price would retrace back to my entry (what i would have used for an exit)


the take profit was more luck and looked better than it was :D

it is a classic sam seiden trade.


cfabian, if you go long there than you are a consistent loser per definition of sam seiden:

1. you take an entry but the trend started already
2. you are buying right into a supply-area

if you want to go long there you should have a perfect entry with a small sl of 1-3 pips.

oh man, i memorized sams teachings :shock:


Thanks for your explanation man.
Actually I wasn't considering going long there. If going long I would do so on your bottom line area. I was just considering high risk to short there when a big momo up had formed, AND price had already gone to zero out the zone of that momo, meaning that chances of continuing long were high (note not to enter long there, but price to break that zone).

I'm long EU@1.3911 by the way. Price rested in that support area, and momo up appeared on asia opening. Hope it builds a nice move upwards.

Cheers
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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cfabian
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Postby cfabian » Thu Mar 10, 2011 3:07 am

cfabian wrote:
FXfreak wrote:
cfabian wrote:
FXfreak wrote:short eu 35....

Image


FXfreak, same here... you just saw the break of that area and placed your stop order there with no confirmation?

I mean, this trade was laser accurate, but shorting there was risky to me because at that moment there was a big momo bar to the long side, price retraced to the MZ of that candle and a continuation to the long side was suggested. However it stopped right at your entry and had a move of 50 pips.

Regards



what i was thinking:

- on the left side there is a supply-area
- we had 3 wicks on m5 already which showed me that a reversal was possible
- it is a sell zone based on TROs understanding
- although price could have gone higher there was no real risk that price would go for 100s of pips to the north
- IF price would have gone higher i was sure that in 99% the price would retrace back to my entry (what i would have used for an exit)


the take profit was more luck and looked better than it was :D

it is a classic sam seiden trade.


cfabian, if you go long there than you are a consistent loser per definition of sam seiden:

1. you take an entry but the trend started already
2. you are buying right into a supply-area

if you want to go long there you should have a perfect entry with a small sl of 1-3 pips.

oh man, i memorized sams teachings :shock:


Thanks for your explanation man.
Actually I wasn't considering going long there. If going long I would do so on your bottom line area. I was just considering high risk to short there when a big momo up had formed, AND price had already gone to zero out the zone of that momo, meaning that chances of continuing long were high (note not to enter long there, but price to break that zone).

I'm long EU@1.3911 by the way. Price rested in that support area, and momo up appeared on asia opening. Hope it builds a nice move upwards.

Cheers


Got out with +4. Thanks god I was paying close attention to it. Didn't like PA on 5M and closed it. Minutes latter it dropped quickly.
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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cfabian
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Postby cfabian » Thu Mar 10, 2011 3:36 am

This is a loser trade from today.

Actually I found today a tough day to trade.

Image
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

FXfreak
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Postby FXfreak » Thu Mar 10, 2011 8:07 am

Spain downgraded, last support-areas killed....GOOD NIGHT EURO!!

target 1.3750 and 1.3710

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rob_deniro
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Postby rob_deniro » Thu Mar 10, 2011 8:47 am

Sitting on daily zl at the moment, lets see..

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es/pip
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Postby es/pip » Thu Mar 10, 2011 12:54 pm

anyone take that gu short off the h1 supply

i didnt and i was watching it too

was scalping the eu for little pips when i could have killed that trade lol
Bend over and assume the position for another 4 years of hope and change.

FXfreak
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Postby FXfreak » Thu Mar 10, 2011 1:04 pm

es, which one exactly? i didn't trade gu.

FXfreak
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Postby FXfreak » Thu Mar 10, 2011 1:05 pm

long eu 24, sl 15,

-9
Last edited by FXfreak on Thu Mar 10, 2011 1:20 pm, edited 1 time in total.

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es/pip
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Postby es/pip » Thu Mar 10, 2011 1:09 pm

FXfreak wrote:es, which one exactly? i didn't trade gu.


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Bend over and assume the position for another 4 years of hope and change.

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ajaymein
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Postby ajaymein » Thu Mar 10, 2011 1:24 pm

EU at a really really good spot to create a pin bar on this 15m and then bullish MOMO on the next 15m. I say that bc it would create a double bottom near a round number 1.38, it is in the weekly zl area, daily zl area, and this is the first real US news coming out in a few since the big NFP bullish rally.,,

And if I'm wrong, we may just blow right through all of that and head to the toilet =)

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