Piper said:Watch out.. time to take the dough and go
Yep, saw that coming.
http://fxgears.com/forum/index.php/topic,131.msg7329.html#msg7329
Piper said:Watch out.. time to take the dough and go
the golden gun said:Red arrow = Market structure shift
The big reason for this trade is the presence of Nested OTEs (OTE within a larger OTE), following the evidence of a market structure shift after Monday's price action.
Time and price line up during LO hours, and away you go.
For all those that noticed that this is completely fighting the 4H and Daily flows, tip of the hat to you. Highly recommended that these setups be traded at half risk and with targets not exceeding the 0% retracement.
About 50 pips on the table for this trade, certainly enough to fulfill a modest weekly goal.
I apologize for not being able to get this post together sooner. It's really kind of a boring, low potential trade, but sometimes that's what it takes to live. Stale bread is still bread!
the golden gun said:Red arrow = Market structure shift
The big reason for this trade is the presence of Nested OTEs (OTE within a larger OTE), following the evidence of a market structure shift after Monday's price action.
Time and price line up during LO hours, and away you go.
For all those that noticed that this is completely fighting the 4H and Daily flows, tip of the hat to you. Highly recommended that these setups be traded at half risk and with targets not exceeding the 0% retracement.
About 50 pips on the table for this trade, certainly enough to fulfill a modest weekly goal.
I apologize for not being able to get this post together sooner. It's really kind of a boring, low potential trade, but sometimes that's what it takes to live. Stale bread is still bread!
AnDDe said:Also, would you consider this OTE drawn from the 4 hour timeframe to be a good entry point for a sell order??
sqa said:I should probably point out that the Red Arrow isn't actually a Market Structure shift.
the golden gun said:To me market structure is defined by the pattern of the highs and lows being formed.
If there are lower lows and lower highs, that is a bearish structure
If there are higer lows and higher highs, that is a bullish structure.
Piper said:Hey GG! By what criteria you choose specifically this range to fib ?
Always good to know whats going on in the opponents head on the battlefield >
Piper said:Can you complicate it a tad bit? It's too simple.. :thumbsup:
But really, by what consideration you are drawing or picking the h/l when ur fibbing a range?
Nice! Well todays learn one new thing a day in trading is done.the golden gun said:The 6250 level was previous Resistance turned into support, that adds to its significance. It is a well defined barrier, because you can see price respecting it multiple times.
Also, when price left the 6250 level for the final time (corresponding to the beginning of the fib I drew) the move was extremely aggressive. I like to anchor my fibs to strong reaction points, meaning places where price left the area quickly/aggressively, as seen from ~Feb.6-Feb.14 of this year.
the golden gun said:PS
loving the new forums sig. I'll follow that white rabbit anywhere
Piper said:Nice! Well todays learn one new thing a day in trading is done.
Poked over the HW threads and most of the guys seemed to do it at a pretty random.. Good to see that somebody actually understands what do they do and have a clear criteria for it.. >
Yea! To the end of the world!!!!! ;D
Cheers,
-P
the golden gun said:and yet, I seek to be better than my master.
Piper said:Careful, he's coming to take care of "some" peeps here!And bringin' the big guns!!! Its gona be a video production!!You don't want to get caught on the wrong side of that! :-[
Good approach.
Pretty much always been taught to think for myself in this business. Thats the only way i think. You can't get forward if you only following , you have to lead yourself, nobody else is going to do it for you. Always thrive for perfection. And don't measure the self even to your mentor. Be thankful for what he taught you,no reason to do more then that.
Mate, we need to relay this thread to trading psychology ;D :hijack:
-P
the golden gun said:I don't know about trading psychology, but what this thread CAN teach people is how to talk about your trades without exposing your Ego, which can be COSTLY.
This thread is unapologetically done in hindsight. This is done on purpose, to protect MYSELF. I am not anyone's saviour, I'm simply sharing as much as I can whilst still covering my own ass. 8)
Piper said:I don't see a problem with calling.. So ooooonce in a while i'll fuck up in live.. Wow so i made a mistake in public? Show me one person who doesn't. But that's just me.
-P
sqa said:I should probably point out that the Red Arrow isn't actually a Market Structure shift...