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Sure, a touch of the cap would've been better, but a sensible entry later was still pretty stress free
have a Q regarding Fx.sniffer and Mel's "Candle PA" and "key Levels".
When drawing key levels on HTF, it will not always be present on lower TF, for example a 4H key level is not always
playable on a 5M TF.
Will u Draw the major key levels on the TF you are Trading on everytime (or at least eyeball them)?
Thanks
Lehmann
Ifmyante
Personally, I like to have an FTR on the LTF to work with to take a key level trade. It makes it so much safer
I'll get something together on it in the morning. Most of my charts show it all however
As an aside (still very relevant however!), I was having a chat earlier, explaining something to friends
I drew a sketch which I think should be imprinted on everybody's mind.
extending the H4 demand box all the way from november to April, we have it why price reacted as it did.
Harry
Yup. With a 4 pip SL on that entry, even a trip to the next supply offered massive returns
Whatever TF you're trading, price will travel from the last zone defined to the next last zone defined
It's always best to be very aware of the HTFs too, as the PA forming in your LTF zone may also be at the edge of an HTF
zone, potentially offering much greater rewards than your TG in this TF.
Just a question: Why are you looking for long entries if there are great opportunities to flow with the trend on selling the
pair? I think there is lots of room for profit on selling the pair.
I will wait for long entries until we take out HTF-resistance areas, until now we react to every lower timeframe flip area
which proves lots of bears I dont want to stand in the way...
M5
2x possible entry at S/R flip, first retest and second retest of confirmed retest
Hi Infest
I took the trade for the reasons the guys stated above. It was a lovely FTR on every TF, and a beautiful cap (see the m15
from the past). It had every possibility of retracing price deeply.
As it went though, there were decent returns to be made on it, but nothing massive
Hi, IF
Thanks again for posting your trades. They are really eye-openers.
I can see the similarities between this trade and the PA around your target, where you said that you let PA take you out.
Your entry setup had a FO but you couldn't trade it because you didn't have recent history to tell you where supply was.
What you call an FTR on your entry is similar to your "Exit on rejection from cap". (At least that's what the rejection from
cap looks like, an FTR).
May I ask you a few questions?
1. Is a rejection from cap the same as an FTR? If not, how are they different?
2. Did you take another trade at the "rejection from cap"?Why or why not? (I would think so because price is at
demand and, before the FO, supply was engulfed)
2: Did you take another trade at the "rejection from cap"?Why or why not? (I would think so because price is at
demand and, before the FO, supply was engulfed)
I truly would've loved to have had the time to take it, especially as the whole formation had become such a lovely BUFL.
Anybody who was there should've been in that trade though, sure
3: I noticed how it's good to trade smaller time frames when there is no recent history to the left, like the EURJPY pair,
for example.
There is no interference from higher TF PA.
Would you agree with this statement?
There usually is something to the left, even if it's from years ago, but yes, I agree with that
With time, patience and experience, what once seemed very complex becomes ver
And in my own words :) , "The level at which price leaves a zone and fails to get back into the zone is the FTR (FL). So we
now have a PAZ above the FTR and another PAZ below the FTR, and we can operate within these individual zones".
EDIT: oh, and the FTR (FL) level is the DP between the PAZs.
GR8 stuff
DrSwing
Ifmyante
Shhhhhhhhhhhhhh......
Don't tell anyone
Simple explanation of Compression formation
Sorry to interrupt, but it's test time
I drew up 7 charts explaining to a private student of mine why I took this trade. It absolutely needed 7 charts!
So now it's your turn to put together all the reasons to take this trade
Best
If
Oedipus
Why?
Also, how did I pick my entry?
Oz
Once the FL has been broken, a deep retrace to the source will follow to reload sell orders
Pedini
Hey guys, its great to see you all working out these problems. I marked up my own for you. Understand this type of PA and
you're on your way to understanding every turning point in the market.