What Every New & Or Aspiring Forex Trader... Still Wants To Know

hmm very cool stuff northen…never really looked into this info, but from these new pictures i just took , am i understanding them correctly as noted inside the pic? Note that these graphs are more recent than the ones in your picture (so noone gets confused)

And here is an explanation of the graph from oanda…

edit: im wondering if thats correct because if it is, then that could mean another push lower to grab those buy orders right? adding more strength to the current “sell program” we are in

Bones,

I wouldn’t put any real weight into them because they are a very, very, very, tiny snapshot of one particular broker, normally used by the dumb money or uniformed trader.

I just thought it was interesting to note the clear, high volume of orders present above the stop Michael noted in the video.

Nothing more, nothing less.

pls kindly invite me too : aedrijs

thank you

Can I be added to skype as well please?
paulmko1

thanks

Is anyone seeing SMT divergence on GBP/USD on 15 and 30 min charts. Compared to same time on EURO/USD.

Hard to see on my phone , but looks like a lower high on GBP vs a higher high on eur??

Edit

Ok, scrap that, i looked carefully and thats not true. lower highs on both

Like I said, hard to see on the phone at the moment
Lets wait a few more candles, a proper swing high hasn’t formed yet

Higher high on fiber vs lower high on cable on hourly chart. Both at key resistance levels (R1 for pound, R2 for euro). We could see a down day tomorrow but a large asian range so, possible to have another consolidation for the day.

Nicley spotted.

What sort of Asian range is this?
Looks like American traders are making up for lost time yesterday.

Hmmm, I don’t understand this - why would a large Asian range suggest a further consolidation day? Sometimes the Asian range is massive just before a massive price swing… Could you please explain :slight_smile:

“When you get a wild Asian range, this is a precursor to a wild London session” ICT

Ok, but can we still use the same concepts, Judas etc?
Or perhaps its better to wait until the 10:00 gmt candle?

One of the concepts will give you a fighting chance…if you don’t see anything you are familiar with in the next few hours then wait for 10:00GMT, or even better, NYO.

Did anyone else go long on the Cable at 1.5670? ADR not filled, up at LO, OTE around NYO. First trade since joining this group. Just looking for some feedback. Also, Cable bounced off of 3 month low last week, and is below last months trinity.

I am Short fiber at 1.28019.

R2 with SMT divergence in NYO kill zone.

Stop 20 pips.

50% closed at +20. SL @ BE.

Also short fiber at
1.27928
I’m in at the moment.

50% off at +20pips locking in 1% profit. Stop loss moved to break even.

:slight_smile:

looking at cable, waiting for price to go up a few pips more and crack down on the old high at 1.5407 and its stop losses a few pips higher… this is where I’d like to enter short…
was stopped out during LO and lost 1%, not crying yet but would still be nice to ride the weekly train for a change;)

anyone else looking at the same setup for cable?

Looks like a turtle soup on the 5mins chart for Fiber?