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03-17-2011, 07:38 AM
That's what I stated....
Originally Posted by apmonster
"GBPUSD has to follow OR lead".
Now, look at your chart again.
I even get misquoted.
That's the end of this "discussion" for me because I am sure fxvoilaaa had exactly that in mind with his one sentence reply to start a pointless "discussion".
And you apmonster took his bite. :-)
03-17-2011, 07:44 AM
Last edited by apmonster; 03-17-2011 at 07:50 AM.
03-17-2011, 08:24 AM
"Just wanted to put this out there for trade ideas. GU is again retesting last week's low and is only a few pips above it. I don't know if this is a risk-off move from Japan, but it could be a significant point to find a long entry. "
I know you are not supposed to kick yourself over trades not taken, but honestly this one is a little painful to wakeup and see and not want to kick myself for not taking it.
03-17-2011, 08:40 AM
Last edited by InnerCircleTrader; 03-17-2011 at 08:43 AM.
Reason: spelling and smiley
03-17-2011, 10:45 AM
I couldn't really figure out the market flow prior to London Open last night, but still had a short bias, since all three time frames was showing a short bias. To my surprise, when I woke up, I saw that Cable had skyrocketed.
Just curious, could some enlighten me as to why one would look to go long today? I do see an OTE long at the CPP during London Open and as I type this, an OTE to go short during NY Open.
03-17-2011, 10:56 AM
In the previous videos I noted the Key support levels and in the chat room. Key levels maintain their impact... hence the premise "Key" S&R.
Originally Posted by ClarkFX
Look at the 1.5980 level... note it on the timeframes we monitor. See the price action on this level? This was the basis for the long on the Cable two days ago.
Note 1.6100 level? In chat, while for disclosure sake I said I was flat... I explained the Cable would likely see a retest of the 1.61 figure and it traded there again after testing the 1.5980 level last night. These levels are being traded as the current dealing range... spend most of your time on the higher timeframes... drill down to 15 and 5 min charts only after you have a clear "reaction level" noted… to set up your Scouting Point and wait for "time of day" and price to come together... then 15 and 5 min charts are your Sniper Scope... to zero in on the Kill Shot for the Session you trade.
That really is all there is to it folks... either it plays out and your trade pays you... or you take a controlled loss and hunt your next big game prey... profitable, consistent trading.
PS: What did we discuss as it relates to Market Flow and Key Levels? Refer back to the core essentials... therein lies the gold.
Hope this helps!
Last edited by InnerCircleTrader; 03-17-2011 at 11:03 AM.
Reason: Spelling and additional remark on Market Flow
03-17-2011, 11:07 AM
I think I'm addicted on this after more than 400 pips gain in the last two days...
Originally Posted by InnerCircleTrader
I know losses will also come and I have no problem with that, but the tools work very well if you put them together in a way you show here and in your videos.
03-17-2011, 11:08 AM
Price action trading down to a prior support is more significant than price action trading down to prior resistance. Is this what you were referring to?
Originally Posted by InnerCircleTrader
03-17-2011, 11:16 AM
Keep this in your toolbox...
Originally Posted by newbietrader
Whenever price runs hard and is within 30 pips of the Previous Day's High.... anticipate it retesting if not blowing through it.... as far as the next Institutional level. Even if the price rejects and slams lower afterwords... the majority of Stops rest just above PDH's and under PDL's... they are easy ducks to shoot and traders feel "safe" placing them there...
This is the premise behind the exercise I detailed in the video on Consistency... which highlights the phenomenon at PDH's & PDL's.
Keep plugging at it... you will see it click by working the tools everyday on your charts... print out charts and or save intraday charts for your study on weekends. This is a big help or it was for me... this is how you begin to see the tracks in the snow and how to spot the opportunity when it falls in your lap again... as it surely will multiple times per week.
Do not get discouraged... trust me... nobody takes off right out of the gate.
03-17-2011, 11:17 AM
What Trumps Market Flow?
Originally Posted by Hordane
Key Support & Resistance Levels
Last edited by InnerCircleTrader; 03-17-2011 at 12:31 PM.
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