PA, S/R, ZL, EXTREMES & MOMO

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ajaymein
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Postby ajaymein » Wed Mar 09, 2011 8:41 pm

Geez I just noticed how different these 1minute feeds are for the 2 different brokers! The red line is 5 minutes before the beginning of the hour.

Image

Image

For like 5 or 10 bars, its like a completely different pattern. :smt017

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FXfreak
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Postby FXfreak » Wed Mar 09, 2011 9:55 pm

ajaymein wrote:Geez I just noticed how different these 1minute feeds are for the 2 different brokers! The red line is 5 minutes before the beginning of the hour.

Image

Image

For like 5 or 10 bars, its like a completely different pattern. :smt017


the first picture is from oanda and they widen their spread before news. might this be an explanation?

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Postby FXfreak » Wed Mar 09, 2011 10:02 pm

cfabian wrote:
FXfreak wrote:Took profit at 40. Sell at 38. I hope to see a retracement. I have no take profit yet. yiihaaa :D

Image


----------------------
EDIT

out +15

56 + 15 = 71 pips for today!


FXfreak,
Although I can see that support area on the charts, what made you enter right there? What was your confirmation? What was your SL?

Thanks


I entered there because i thought eu would move higher. I don't use confirmation. I was aware that this support-level would not be the best price but the r/r was ok.

My hard sl would have been below the last support-area 25/35 which means that I could have lost around 60 pips on that trade.

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cfabian
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Postby cfabian » Wed Mar 09, 2011 11:12 pm

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.

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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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Postby FXfreak » Thu Mar 10, 2011 12:05 am

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:

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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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