As always, it’s the application - you can’t expect to simply take a trade off a bollinger band and have it work out.
Learn support and resistance without any idicators at all, then use the indicators to assist.
Actually I use Marketscope and MT4 in conjunction with each other. Those chart screencaps are from my FXCM MT4 platform and they do appear to match my FXCM Marketscope charts.
I’m sorry, I did not receive the email with the attachment.
Marketscope is an FXCM trading platform. 
RC, do banks target likely stops? I’m using a new strategy that pretty much takes the same position as the banks/market makers if/when they target obvious SL areas. Gotta say, so far it is working good, 1.7% gain yesterday and 4.5% today. But, I’m curious if banks actually do this or not.
Are you using that stop hunting with the big players method or some other?
I’ll chip in here because I like to butt in…of course they hunt stops! How else do you think money is made in the markets? Aside from getting in on a trend and more people piling into the trend after you. For every buyer there is a seller and the easiest way for the big money to take other people’s money is by hitting stops and reversing the price the other way. Perhaps it’s not as easy as in the stock market but have you ever watched price during high volume at SR areas? It usually pushes through the area before reversing…dependent upon volume/liquidity at the time.
…it’s not quite as simple as stop hunting though sometimes…there are fakeouts and that kind of thing going on. Bulls vs bears (and more commonly institutions vs amateurs)
I’m using the “I just figured I’d test something and it’s working” strategy :eek:. lol I enter near whole numbers in the direction of PA and first TP lvl is the whole number the 2nd TP is =to the distance away I entered, so if I entered 15 pips ahead of the who number TP1=the whole number and TP2=whole number ±15, depending on which way I’m trading. I have yet to use this on S/R but for whole numbers it is working well. Also, once TP1 is hit move stop to BE
yep, I know the one you mean. I think you can also use moving averages to help with that one to “guess” the bias of the order flow.
Though if you just tried it at 1.5300, I may have shorted into you for 15 pips 
I dont use an MA, if price goes up i go long, if price goes down I go short, distance between whole numbers isnt too much, I figure 15-20 pips is good enough. Still unsure how to use this with S/R, like how close should you enter, what kind of TP should be used. With whole numbers it is much easier because theyre the same for every trader, people place stops at whole numbers and slightly above/below so banks target those areas, just trade with them 
Price won’t always test the whole number but does seem to a lot of the time.
For example, yesterday GU approached 1.5200 moving down but buyers came in around 1.5202 and it didn;t return until bouncing off the 1.5300 area.
It’s questionable whether people do place stop losses at round numbers - I guess we’ll never really know but I would definitely have thought that some commercial hedgers would use round numbers as an entry for hedges.
People like scoob would only hunt them out anyway 
I know, I’m only using this on GBPJPY because it appears to be the most consistent, also I set the trade manager to move stop to BE at +13, I’ve noticed some last minute turn arounds and figured this would at least give me a BE instead of a loss shud this happen.
Ok, so that’s a yes:D
My short E/U trade from yesterday got stopped out at the most obvious place to put a stop. Right before E/U went short right past my target:rolleyes: Was my stop hunted?? I think it was a big push right up to PPA then a few more pips to take out the stops drive it up a little more to a safe entry then big money reverses and goes south. My stop was right at the top of the wick around 1.3025. I should try and remember to give my stops 20 or 30 pips safety past PPA if I am looking at 4hr and daily charts for S/R
I hate stops but some time you have to sleep.
I am going to look at using correlation hedges some. Its not as risk free as just closing or free. But it leave open the potential to BE or profit from a losing position.
Tricky one to master but most useful when you have a trade on based on fundamentals but the price action just isn’t doing what you expected.
I guess you could hedge intraday / 4hr but you have to be careful it’s not being done in an area where you’re just eating up more pips in commissions and hedge spreads than you need to.
Weekly tf trades triggered as expected on A/J 77.229, G/J 133.565 and N/J 62.587 all short. E/A 1.459 long.
Hmm, mine are miles away from the LWMAs.
Closed out EJ short earlier today for about +2.5% gain.
Have AU short running now.
MT4 and marketscope can vary a lot, i’ve noticed this as well. Sometimes price itself can be up to 50 pips different between brokers.
Tricky one to master but most useful when you have a trade on based on fundamentals but the price action just isn’t doing what you expected.
I am thinking of the situation where I see a set up on the daily and enter to early. Most of my screen time is Asian session sometimes I see something I like on the daily I change to a lower TF see an entry and go for it. Then it bumps along the wrong way until I have to go to bed. Only to hit my stop at London open then carry on in the direction I thought it would based on the daily. I draw little arrows on my daily chart most of the time they show the direction of the next days candle. I am thinking of putting on a hedge at bed time I can then have a look in the AM and decide to close the hedge or the trade or both after the London big money has shown there hand. I can not hedge with the same pair but I can take a position in a very highly correlated pair.
I don’t know it probably makes more sense to just close out or trade smaller and use a bigger stop.
BTW I am A/U short tonight as well
Two more trades were busts earlier today, going halfway across the channel (moved stops to BE) before falling back:
USD/CAD Long triggered @ 1.05183
CAD/JPY Short triggered @ 82.778
So far I’m 0 for 6 entering trades off the opposite MA in the direction of the LWMA slants on the Daily charts.
That A/U short looks SPOOKY to me…
I’d probably be long there if anything.
But take that with an grain of salt.
You know what opinions are worth;)