(binned per thread starter's request) Market bottom rotation trad

Yeh both USDJPY setups there are valid, especially supply takeout being very symmetric.

Last pullback leg rotation for today on EURGBP. Correlated setup to EURUSD.

UTX if it prints HL its a potential entry.

UTX long sold, jumped back down but held trough it since the HL bake was on heavy momentum.

And here goes EURUSD for last pullback rotation of the day. Dollar baking some short term top with XUSD likely to see some upside tomorrow and next 2 days after weekend .

Hi Jan,

Thank you for sharing your knowledge. Can you give feedback on my charts below? Are the setups valid?

Trade decision for Chart 1: Clean symmetrical flag. Buy limit after supply takeout.


Trade decision for Chart 2: Highs are uniform. Buy at market but price reversed. Lose trade.


Trade decision for Chart 3: Clearout spotted. Followed by HL with strong push up. Mini shelf formed right below supply. Buy limit placed but not filled.


Trade decision for Chart 4: Clearout and Higher Low. Supply Takeout (Arrow) spotted. Buy limit but was stopped out.


Trade decision for Chart 5: Clear trendline with Clearout. Buy at market (Arrow pointing right) and close at arrow pointing left.

XUSD pairs baking some upside as suggested yesterday, plenty of solid setups in London session so far to have been taken. Macro path delivers better RR on trades in general.

Hey Ken, thats a good progress for a very first few of trades, your on good track.

Ok so, the first setup is not continuation setup or flag as you called it, mind that i dont use word flag for such setups, because i define that setup with specific rules which have to be present, and thus i use different word for it, because its specifically different setup to a flag. Flag setups are not traded here, because they are not accurate in order flow information and performance, or to say...they dont perform too good.
So for continuation setup, just as you would for flag setup you would draw a trendline, for bullish setup on flag you would draw upper trendline which is most important, but for continuation setup you need both trendlines, basically there has to be presence of strong tightening process from both sides of structure, where structure progresses and tightens from both sides towards right more and more. The setup 1 however, is not continuation setup, what however it is is a pullback leg rotation setup.
It is very important that you on spot understand and can tell difference between continuation setup and pullback leg setup (as they share some similar carasteristics)
which i mentioned before to TRD, the reason why is to prevent unnecessary loses (being stopped out but then price eventually going in your initial favor).
If you cant draw clean symmetric trendline in structure from both sides then its not a continuation setup (which setup 1 is not, as from lower side structure is not tightening since lows keep printing LLs instead of HLs).
It is a pullback leg rotation because price kept printing symmetrically lower highs and once you saw that your aim should be to focus when price bakes first HH on strong momentum move, which actually did happen just where you entered your long position. Your entry and risk management was fine, just the pattern recognized was not the right one.
I took same trade and the explanation for trade on chart is on previous page.

Second setup is hard to comment on, its somewhere really at neutral state, its not a bad attempt, its just not clean enough to consider it.

Setup 3 was very good one, that one is actually a more advanced setup because it merges pullback leg rotation after strong impulse move (also short term macro flows from GBP and USD affecting EUR), and it includes strong LL HH rotation on momentum as you pointed out. The only thing you could change there is your entry should have been right after HH is being baked (last strong high taken out), if you had entered there acording the rules of entry for pullback leg rotation, you would actually get fill and decent winner.



Setup 4 correctly identified, just your entry was too late. Mind that on supply takeout you want to be there before the actual squeeze happens not after the squeeze and then entering on bounce (bounce entry is only valid on specific very condensed setups as explained before).
Your initial entry would be on micro shelf rejections. Also the target is quite big on TP, usual aim is 1:1 structural target (depth of structure to be projected on TP) if you aim for larger TP use scale out TPing.


Setup 5 XOM is decent B quality setup. With tight risk might be worthy play otherwise not. If you want to play trendline shifts you want to ensure that it is extremely consistent trendline and as condensed as possible.

EURGBP looking for long if it retraces back towards micro shelf, otherwise its a baked deal.

EURGBP bakes the target, didnt retrace so no entry.

GBPCHF

XCADs eyes on potential pullback leg rotations and continuation of bullish move if HH is baked.

GBP long sold, took bounce entry there on depth of whole area supply micro shelf bounce. GBPUSD also provided similar entry on micro shelf lows after supply takeout on the lows of micro shelf.

AUDCAD as priority focus . Basically as pointed previously, the whole point of this setup is trading the soft bullish accumulation phase that begins after aggressive buyers sell their profits, but new buyers came due to shock event (news) and start to accumulate same way expecting continuation of the move upwards.

Didnt manage to bake HH, no play.

PRSP is a maybe, if it bakes momentum move on takeout. Rounding in place.

And....XCADs comming in play afterall.

PSRP annoying, had 3 setups on watch with alerts, missed every single one of them.

PDCO if bakes HL could be a play.