Days gone behind, some targets still in play just on a One Hour Chart
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16/10/'07 - Crude oil and Greenback flying in opposite directions. 0 replies
DislikedPlus a RED News Friday for a few starting in around six hours. EUR, GBP, USD The setups can likely come first, then the plays, then the news. Trade safe folks.Ignored
DislikedOkay, these are NOT any set "setups" to be looked for over & over, they are just probability trades in the moment at the time is all (based on lines & targets). Folks ask why I don't sit in for the whole run. Tried that. In Asia the market can also whipsaw a trader so a scalper like me doesn't really need to be hanging in there and hoping imo. I approach 15p as a trading day (for me), so at +20 here, today is essentially over right now. Though I would look in of course an hour after the Red News later to assess any out-of-position pricing the market...Ignored
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Great trade as usual. Mine was at the same region.
Just for the story, the high for session was formed early on (before Tokyo Open).
This was confirmed around 55 minutes into Tokyo session when there was a rejection of the BRN 167 and DOL with a down momentum candle. For me as per my rules, i mostly wait for an hour into the session before placing the trade, RN, Time are always constant. The other confluence for this trade was PFH, Pin, Pivot rejection. {image}Ignored
Disliked{quote} Spot on, W. The high was formed very early as they took price up quickly to take out the opening gap while s preads were still high & too high usually for retail ( when banks trade between each other there is no such thing as spread between as we know it in retail, so they essentially do their best to make you pay if trading very early in the day should you even wish to). Edit: I observe that if they dont go for that gap fill early, then they can happily leave it there to taunt lol for long periods, don''t get sucked into a chase imo, watch....Ignored
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Yes there is no guarantee. Its just that there are some very good herd zones formed but in anticipating a revisit at times as traders we overlook at the other targets formed and destroyed..lol. For short term traders it is very important. From what i have seen so far these targets in between are crucial to bank some pips. Also on GBP/JPY it is good to wait for retests at times or to look for HL and LH. Just as an example there was a trade on offer about Hour and half ago which i missed. I have put some points on chart. The HL candle could...Ignored
DislikedJolly good start to ~dax - Good old levels TT Very cautious now about losing those quick early gains {image}Ignored
DislikedHeading towards the Herd Zone for long term traders. When no one know..lol {image}Ignored
DislikedDemo testing E/J.......three out of four good trades and one waiting "?' ALL around levels drawn prior to 8am UK time on 15 minute time frame ( trade on 5 minute time frame) {image}Ignored
Disliked{quote} Continue Demo..... Location of HERD ZONES Have I drawn in suitable "HERD" Zones? I have noted proximity of Big Round Numbers or the lack thereof. Time or relation of these herd Zones to UK Equity Open. Important in your experience ? {image}Ignored
Disliked{quote} DAX.... I know this is an index and not "Forex" but you guys that write about "HERD ZONES"......do you think this level on the hourly Dax would qualify as a herd zone? ( This level matches, approx, area of UK 8am Equity Open) Anyone ever used "Herd Zones" on an Index or non Forex related instrument? Comments? {image}Ignored
Disliked{quote} Zones can be formed in Forex, Index, etc. How it behaves when it gets there or if it gets there is a different story. I have never traded Dax so not sure i have much input regarding that. Certain pairs or index in this case behave differently.Ignored
Disliked{quote} Thanks for the reply W. Perhaps others like TT could add their thoughts later.Ignored