I common mistake I see people make is thinking that each converging wedge like pattern is compression. It is true that price is tightening but compression has to also have either supply or demand consumption too (in this case demand consumption) and ...

LJ Forex Group

1.5623

LJ Forex Group

Trade triggered before I got up this morning, GU SR FTB - very simple setup, straight to TP ahead of GBP data release. +1.35R

LJ Forex Group

There is demand, this zone has history of being a demand zone. See all those arrows to the left this is where this zone was acting as demand - - price getting rejected away from this zone means it was a demand zone. Demand then gets consumed - each ...

LJ Forex Group

1. Yes the demand is where you marked at the lower FTB. 2. The upper one you marked is an FTB but not one off interest for me without some further investigation inside that zone. I'd be zooming and trying to pinpoint the source of the start of the ...

LJ Forex Group

I chose Gold FB over an AU FB - Gold looked slightly better IMO and only had time to get one position on so chose Gold...Gold didn't work out but AU went straight to FLS ... sometimes the market can be rather frustrating!

LJ Forex Group

Final trade off the day, took a loss on what I considered to be a bull trap on Gold (-0.8R) - there was a potential for this to be supply consumption thus I did risk less than stock risk on this one. Only +5.1R for today, damn

LJ Forex Group

It's based on an SR + demand zone FTB - there is not other FTB above this level that I would be interested in as a TT. I generally stick to clear obvious FTB setups on crosses. My shorts this morning were based on price action at supply i.e. ...

LJ Forex Group

I was just about to post a chart of UJ as a setup I missed whilst managing the GAUD, ENZD trades... A perfect example of why you shouldn't be scared of going against a strong move and even a BEOB...price action produces patterns not the other way ...

LJ Forex Group

Final 1/3 taken off for a net +1R (including the earlier loss).

LJ Forex Group

Can you PM me your email address or just send me an email to [email protected] and I'l respond later, thanks. (Commercial members responding to PM's is forbidden - despite being common practice)

LJ Forex Group

Got sucked into taking 1/3 off for a loss which wasn't overly clever. Second 1/3 taken off at demand and now targeting price to break lower after the successful retest of the upper former demand turned supply.

LJ Forex Group

Maybe a bit premature but second position closed at 2nd planned TP area +4.9R for the trade.

LJ Forex Group

chart update

LJ Forex Group

You can see it in previous chart - the blue dashed line @ 1.5280 - just hid it above the former demand marked as a safety measure against a strong reversal - but am watching price action more than anything else. Back in a GAUD short - M15 rejection ...

LJ Forex Group

I've pretty much done the same, 50% off at the first planned TP area.

LJ Forex Group

My GAUD short was similar to ENZD - stacked supply zones with a compression wedge. I was looking for a bull trap off the higher supply and went short when we had the initial rejection - I needed to use a wider than usual SL because of the upcoming ...

LJ Forex Group

ENZD now approaching my first main TP area (it is the first demand area out of those marked that has not been tested).

LJ Forex Group

Reasoning for my short as per charts below. I'm also short GAUD (from 1.4978), but looking to bail out soon as this is not going to plan.

LJ Forex Group

I'm short too but higher @ 1.5325 based on the M15 rejection from the double top.

LJ Forex Group