Update on this trade -banked some more profit as price hit a demand zone, trailing SL now targetting a move to the lower SR.

LJ Forex Group

UCHF H1 showed the same picture (being inversely correlated to EU etc.). The big problem in the retail space is the 'art' of looking at price and objectively evaluating what it tells us has gradually been lost over the years with mechanical systems ...

LJ Forex Group

Someone in the trading room asked me about a potential FB long on EU. My analysis was that there wasn't enough certainty that price would move higher at the time (H1) because price was heading back into former support turned resistance - but if ...

LJ Forex Group

Very nice a trap spiking into obvious supply is a very powerful setup. Not been focussing on the crosses much recently. Here is a trade I took last night as per my tweets. 1. H4 - moving into clear supply. 2. H1 - small FB of the previous H1 swing ...

LJ Forex Group

This was a very good setup - lots to like about it.

LJ Forex Group

So what's the difference in end results... Professional approach - entry @ 1.0360, SL @ 1.0373 (including spread), exit @ 1.0339 + 1.62R Amateur approach 1 - entry and exit same, SL @ 1.0380 + 1.05R Amateur approach 2 - entry and exit same, SL @ ...

LJ Forex Group

ACAD FTB occurred during the Asian session last night - will use this as an example of how to objectively determine where to put your SL based on price action alone. I've compared this to where (based on what I see elsewhere and from what I've seen ...

LJ Forex Group

Took a long on Bund this morning based on a sellers trap on the M15 TF at the clear H4 SR. Was aiming for a move into 142.20's but the supply zone just below held and thus I exited 50% when the M5 BEOB formed of that supply and rest at 79's for a ...

LJ Forex Group

Nice one. I missed the chance to short from the supply which was a daily SR too (note how it formed an H1 FB) and was thus waiting for a break of 80.25 SR but with the impulsive moves this morning it just flew straight down.

LJ Forex Group

I think the yen pairs were dragged up by the metals spiking...who cares nice winners there for both of us - my Gold trade was for the same reason bear trap on M15. Would have liked to reverse for a short @ 1582's but didn't have time to react.

LJ Forex Group

Nice, here is a time-shifted chart (18min) so others can see it in a more obvious fashion...it moved straight to supply so did it's thing. Here is another one from this morning, a bull trap this time on CJ H1.

LJ Forex Group

In terms of SL placement for the people that went long at the higher zone, I know their reasoning for a SL below 40's was because this was the 'safe' option and where they would conclude the setup at the higher zone was wrong (they wouldn't be ...

LJ Forex Group

I would view those two levels as separate valid FTB setups and part of the rationale behind an FTB setup is spotting good zones where there has been a high (relative) number of certain market participants who are now trapped (i.e. spotting the zones ...

LJ Forex Group

Not sure what you mean here. Sellers between A & B are not on the wrong side of the market so they aren't being squeezed. Buyers who bought @ A or lower were caught on the wrong side of the market and it's buyers bailing out when price returned to A ...

LJ Forex Group

3. Trade Exit As I explained previously I (a) took this trade with half my originally intended risk and (b) took an approx 0.8R loss. Price was moving with too high a momentum to be able to reverse and so it made no sense in letting it hit my SL ...

LJ Forex Group

2. SL Placement People are getting it so wrong when it comes to SL placement. All you need to remember is a SL is there to cut the trade when 'in all likelihood' the reasoning for the setup has been invalidated. It really is that simple! But, all I ...

LJ Forex Group

I always get a stream of emails after a losing setup etc asking how I played it or what was wrong with the setup... When will people wake up and realise losses happen, they are a necessary part of this business so stop getting scared by a loss. ...

LJ Forex Group

Took a small win on a Gold long based on the 5min rejection pin off the demand zone. Was targeting a move to 1580 and took some off at the supply zone FLR - price didn't behave itself so scaled out when it showed me the probability of a move up ...

LJ Forex Group

Nothing to say other than it did as expected.

LJ Forex Group

Cancelled my orders on UJ - price came closer to the entry area and in doing so decreased the value to the new FLS to an extent that this became a no trade for me. Price still did as expected though.

LJ Forex Group