@ jacktrader: I’ve picked the GBP/USD instead, but EUR/USD looks fine as well for a short. With the heavy 1.2980-1.30 resistance and overall USD sentiment up (medium-term), the odds are good. Did you short it?
Ya took a short on the third long shadow. Price still go against me but the price action just tells me the SM is fading into stops. So keep my trade still. Thankfully its going down now.
An account closing out of (FX 10) long USD positions caused the move down.
They used their own Order-Routing Management Systems into London Open this morning bypassing the usual channels. Moving vast tranches of money around requres smart infrastructure.
Looks like the sell limits are being filled while potentially building block of stops on the other side for E/U. Closed my trade, another breakeven session.
I want to share a recent trade with you all.
I have kept a record of my trade in my trading diary. Even though there was a winning trade, Tyler still pointed out to me where i can do better and WHY.
Disclaimer: Education Purposes Only.
Tradervue | EURUSD Trade Detail
Before i start any trading day. I always need to get a feel for Sentiment. Especially for other countries like Japan, Europe and Australia not much so because i live there. Information that i can not live with out when starting my trading day are
News Sentiment:
Daily Forex Economic Commentary
Order Flow Trading > News
Hi Dali,
How are you? I hope you had a great weekend.
Quick Question for you. Say, for hypothetical purposes all the news is pointing to a Bullish sentiment for USD/JPY for whatever reason
- Would you personally take this trade?
- Is there are better set up you would enter personally rather then the one i have put forward to you?
Thanks in advance for your reply
http://img208.imageshack.us/img208/5996/36486882.jpg
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Hi,
I’m doing fine, thank you. Hope markets are treating you well! 
Personally, I would not take the trade. 100.00 is a level everyone is watching currently and given the unclear sentiment right now, it is hard to predict if it will break or not. In my opinion, waiting for a clear reaction is the best strategy. So either it breaks beneath and takes out the stops or there is a strong rally. As you can see on the charts, rallies have been rather small and ran into good selling interest. This is not really a convincing sign and stops below 100 can certainly attract.
So, picking a bottom in USD/JPY is IMO going against the flow/sentiment and not advisable. If you prefer to buy it, wait at least for a decent reaction.
Hello dear traders!
I was trying today to play this options barrier attack in U/J uj_03062013-9am - JimReddy’s library
Sentiment was not clear for me with U/J but after I saw first attack during London session I have joined second one during NY. And as I was not sure if the 100.00 level would be cleared I targeted 100.05.
Again, the Entry is what giving me hard time. Please, all my questions in the chart uj_03062013-9am_5m-BP - JimReddy’s library
They didn’t place any barrier option, today. They didn’ have to because they were eying the c10000 as a hedge for today’s 10am NY cut. And they got paid because price touched c10004 at the cut. 1 tick after the cut price fell through the floor in line with sentiment.
Sentiment was not clear for me with U/J but after I saw first attack during London session
What you saw was the 3pm Tokyo cut. 3pm Tokyo cut equals London Open.
Depending on size and structure of active options, they test the resolve of the level defender. They have been doing it since c10300 in 10 and 20 pip steps, right down to c9950.
I have joined second one during NY. And as I was not sure if the 100.00 level would be cleared I targeted 100.05.
You got that wrong. They wanted the c10000 option level to hold until 10am NY.
It wasn’t an option barrier. It was a hedge for them - via option - because they didn’ know how strong the bids were below c10000.
Hi Dali,
Thank you very much for your clear and concise reply. I will save your comments away into my trading Journal.
Last week has not been good to me. I made 32 pips on my first trade of the week and then my next 3 trades i would proceed to lose 150pips. I realized that at the back of my mind that my mental is in revenge trading mood. As soon as i realized this i cut short my trading week. Took the time to reflect and wrote it all down to my trading Journal. I re-energized and started this week afresh. After your reply to me and talking to Tyler i adjusted my plan of attack.
The US ISM manufacturing report came out which was negative for the US dollar to which i would act on my plan and shorted USD/JPY and Long AUD/USD at the same time.
I made about 95 pips on JPY and about 66 pips on the AUD. The trade took about an hour to complete. Thank and you and stay in touch.
[B][U]JPY Trade[/U][/B]
IC Markets USDJPY m5 ysW5n | cTrader
[B][U]AUD Trade[/U][/B]
Some how new to this just going through all the posts so that i can gather more information and learn this new concept.
Hi RB,
Sure, I hope you’ll find it useful. Let me know if you have any questions.
Hello dear traders!
Thank you for taking your time checking and commenting my posts.
I am seeking your advice on possible GU setup gu_05062013-6am-BP - JimReddy’s library
Everybody can see the price is bouncing of daily Fib 61.8 level and taking into account dollar shakeout might be finished it is quite possible a lot of technical stops from short players are getting placed right now above 1.5375. So I would play Stop Fade now because I think smart money will want to get rid of weak hands before going agressively down. What do you think?
Unclear bias ahead of NFP Jim, focus on currencies where flows are more clear, for example the Aussie.
ECB meeting tomorrow will bring us some decent volatility, so I think there might be some better opportunities to fade tomorrow during this event. Keep in mind that appetite for fresh positions from institutional traders like hedge funds and etc. will be limited ahead of the NFP.
Good luck to you
Thank you, Dali!
Yeah, you are right Aussie is much more clear au_05062013-10am - JimReddy’s library
Very well done Jim, I see you faded the stop hunt into 9600. Focusing on the currencies with clear sentiment, that’s the way to go. Keep it up. 
[quote=“Minotaur,post:316,topic:50755”]
An account closing out of (FX 10) long USD positions caused the move down.
They used their own Order-Routing Management Systems into London Open this morning bypassing the usual channels. Moving vast tranches of money around requres smart infrastructure.[/QUOTE]
And now the mouthpieces are scratching their heads and trying to figure out what happened, today. They call it panic, carnage ect. ect.
The reason ?
It’s simple: A large chunk of money switched from USD long to USD short on the 29th of May starting Tokyo 2nd session.
They are sitting back comfortable and let it run it’s course.
I can’t repeat it often enough: To stay alive in Forex you need to know the answer to three questions:
WHERE?
WHO?
WHY?
That is as simple as it can be.
[QUOTE=“Minotaur;497874”]
And now the mouthpieces are scratching their heads and trying to figure out what happened, today. They call it panic, carnage ect. ect.
The reason ?
It’s simple: A large chunk of money switched from USD long to USD short on the 29th of May starting Tokyo 2nd session.
They are sitting back comfortable and let it run it’s course.
I can’t repeat it often enough: To stay alive in Forex you need to know the answer to three questions:
WHERE?
WHO?
WHY?
That is as simple as it can be.[/QUOTE]
No you just follow price… If price is going up then buy… If its going down then sell… Anything more then a naked price chart is unnecessary. Stop complicating things.
Hello dear traders!
As a beginner I am very happy to hear different approaches to OFT both “insider-like” (by Minotaur) and “Naked Price Chart”. If Dali permits to deviate from original teaching it could enrich the thread I think.
As a retail trader not having the edge to deal with insider info and strugling with sentiment I do have to somehow read the market with the price action to understand where smart money reload au_06062013-11am - JimReddy’s library
P.S. The target was too shy:18:
If it’s so easy, why aren’t we all rich already?
When the herd mentality triggers in the markets, you might make good money just following it, but in the long run you will be broke if you don’t start thinking about markets outside of the charts.
And I’m not against charts - I use them myself - but it’s the mindset of a trader that makes the difference.