well… couldn’t have asked for a better result on that one! I ended up ‘setting and forgetting’ this trade so that I could try and get some sleep last night, so I set it to take full profit at my first target instead of partial. Price topped out at 95.78. Very nice! Thanks for the knowledge you have instilled in me Pete :59:
Nice G/U long today. USD finally turning.
When I saw the weekly chart I notice a up trend and draw a trend line.
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When the NY session started increase activity resulting in lower prices on the 1hr and 5m TF.
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Lower prices started to attract buyers and prices started to slow down the down move. 5m TF
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Lower prices attracted more activity (volume) and stop the down move. 5m TF
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At this area higher prices did not show activity, telling me the sellers are not there. 5m TF
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Again, lower prices attracted more activity. Buyers showing their hands. 5m TF. Follow by a no demand candle (at the white arrow)
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Went long at 1.3678 TP 1.3714 and SL 1.3642. RR 1/1. Let the trade run. A couple of up candles showing big pins on tops showing some weaknes but the result still was higher prices.
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TP taken
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Higher prices attracted sellers and resulted in no higher prices. Not looking for longs anymore.
It was a trade against the down trend shown on the 1HR TM, but I follow the PA. Looking forward for yours comments
Mario
Very good analysis and very good trade management! I think you could’ve stayed in a bit longer, but even if you did, price probably would’ve pulled back on you and you would’ve gotten out at the same price you did, anyway. Very nice work! Way to apply the method correctly!
[QUOTE=“PipDaddy777;628757”]Very good analysis and very good trade management! I think you could’ve stayed in a bit longer, but even if you did, price probably would’ve pulled back on you and you would’ve gotten out at the same price you did, anyway. Very nice work! Way to apply the method correctly! [/QUOTE]
I’m glad you like it. I started reading and learning supply/demand, VSA and Pete method since October last year. I’m struggling to put all the concepts to work together. But I am committed to learn this so I will post my trades to learn from your comments.
Thank you for your feedback.
Mario
Looks like the usd/jpy is perched on a cliff ready to fall
Closed it up. After a slow start, ends up being a good week. Good to see others applying and profiting.
Took a trade this morning with Karl on USDCAD short. Solid setup. I’ll be closing that one out before the end of the day for a small profit.
I took a long on NZDUSD last night. Great strength in the background, even off the H4 which I typically don’t use much. Consistent down to the lower TF. I’m in drawdown right now, but nothing is telling me to get out and support is holding really well. For the first time ever, I may hang onto a trade over the weekend. Hmmmmm… Any thoughts are welcome otherwise I’ll update when the time comes.
Same here- Booked some profit and began to trail stop on G/U.
Will need to see how this plays out next week, both the EUR and GBP are @ key technical levels.
Just thought I’d share…
Have a nice weekend,
Jake
JPY crosses are exposed right now- I prefer NZDJPY. 
looks like someone is loading up on nzd/usd late again too
That was me 
Hahaaa, I need to stop posting in other threads right now.
Me being bored + a couple ****tails while sitting on the couch + me being a nerd = me being curious as to what Pete was talking about on this post and being unable to resist contributing LoL I gotta get cable TV again…
LOL!! Moving on now…
*Get Netflix.
I’m seeing a nice long set up on the AUD/JPY…would anyone else agree…seems to be bullish vol on the Daily, 4hr and 1hr.
Lemme know what you guys think!
- Romancandles
Good eye! It looks very promising but be patient as the initial push through supply on H1 and M15 got rejected on high volume. The background is there though, so it’s definitely worth stalking. Post an update when it looks like a good entry is setting up. Good luck.
[B]JP2012[/B] At #7 do you think that this could be an early start of distribution with the spike.
[QUOTE=“Pingback;629121”]JP2012 At #7 do you think that this could be an early start of distribution with the spike.[/QUOTE]
Ok, I think you are talking about those green candles with the wicks on top on relative medium volume. Weakness appears in up candles. But, as Pete pointed out to me a couple of weeks ago, we must keep in mind the concept of effort vs result. I kept the trade open because the result of the activity was the following candles closing above. I also let the trade open because it could hit the TP set at previous resistance, and that is what happened.
But remember that chart is a 5 min time frame. Reviewing the one 1 hr I see a down trend and I believe is the beginning of a trend reversal. I am waiting price to test the support level of 1.3654 to see the activity (volume) there. It can form a double bottom or go down. I think the key is to wait for price action at support and resistance levels and wait for the supply and demand imbalance.
So, after thinking it twice, the answer is no; I don’t think is an early start of distribution. I think we need to wait and see.
I would like Pete and others answer to the question.
Are you in the black? Went long on friday as well. Lets just hope she keeps moving north.