Couple more FTB setups from today... On GCHF - a lesson in finding decision points - why was a SL @ 1.4957 area logical over placing the SL below the entire zone.

LJ Forex Group

My Gold FTB triggered earlier today, it hit FLS then didn't do much so cut it as it's getting late in the day for me to be trading. Wasn't massive value to the FLS in this, just about good enough, but was worth it to see if it could break the FLS as ...

LJ Forex Group

UJ trade I took last night. Based on: 1. Daily false breakout of the daily demand area. 2. Lack of downside reaction to QE3 - meaning it was all priced in and likely to bounce now. 3. Price has likely spiked and cleared that supply just above within ...

LJ Forex Group

I can't explain it all in one post as it's an entire subject matter in it's own right. But to give you a background flavour... When I talk about looking for PA I'm essentially saying I'm looking for signs of professional buying / selling. This can ...

LJ Forex Group

Can you show this on a chart so I can see what you mean. If it's an FTB then I'm looking for limit orders, if it's not an FTB then I'm looking for PA - this was a PA trade.

LJ Forex Group

I would rarely put a SL below a zone that wide unless there was a good reason too. What I would do is zoom in and find the major decision points / areas within that overall zone. This would likely result in the zone being split into smaller sub ...

LJ Forex Group

Two other trades on Dax and GU - left too much on the table on both of these, but still +1.5R and +1.25R on these. GU was breakout of the M15 wedge which was in a daily supply zone with entry based on pullback and rejection of wedge + SR. Dax was ...

LJ Forex Group

A PA trade today based around a H1, H4 supply zone on GCAD that yielded +2.4R.

LJ Forex Group

A SD zone HAS to incorporate the major decision points - that's the biggest thing to remember. What is a decision point - it's a key area that price had to move past in order to continue in that chose direction. So for example on the GNZD you need ...

LJ Forex Group

It takes me about 1HR each morning to review all my charts - probably 30-40 across daily, H4, H1 to find either FTB setups, areas of interest for false breakouts and good higher TF supply or demand zones that price is close too that I want to focus ...

LJ Forex Group

These are just standard FTB (First Time Back) trades to SR zones and SD zones i.e. trading the touch of the SR / SD zone. It's a simple strategy used by the Pro's and these charts were before the event (from my trading room) and after. It's a pretty ...

LJ Forex Group

Yes, that is the same thing - it's a buyers trap...novice traders don't watch SD zones, they watch clear SR's and place their orders around them (heck, most think SR zones and SD zones are the same thing - there are a lot of novices out there). H1 ...

LJ Forex Group

Three trades for me today, just some simple FTB's from the Trading Room. Before and after charts below. +3.35R across all 3 for me.

LJ Forex Group

Yes, I've got the same area marked...key decision area that one, will be watching closely.

LJ Forex Group

Yes this whole weekly TF area is what I'd be watching - its hard to see a lot of detail back so far so I'd just be watching PA in the current area.

LJ Forex Group

This is the M1 QM...

LJ Forex Group

Yes it is the spike into demand - it is also referred to as a liquidity spike, why, because a move like that is because of a lack of liquidity in this range. Price moves because of a supply exceeding demand imbalance - if it moves fast there is a ...

LJ Forex Group

Yes definitely - I wouldn't have seen it though as I don't tend to look at pairs like this that often - I scroll through them once a day mainly looking at daily, H4, H1 TF's - mainly for FTB setups (for example the H1 FTB setup I saw last night, ...

LJ Forex Group

I was out of action most of the afternoon but also caught this one this morning. Spike above the channel into supply - rejection + close back below on M5. As mentioned yesterday it's a classic sign of Pro money - spikes into supply + instance ...

LJ Forex Group

Here is a trade I took earlier, simple SR FTB on EURSGD. Gotta be a bit careful on exotics and crosses at times, but they still present some good setups from time to time.

LJ Forex Group