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

extended a bit my TP as it looked like wanted to go further

Nice trade! How did you plan that large TP?

yeah i saw it, it worked nicely. but i was missing the condensed part. It was too spreaded around. It may look condensed maybe on M3 or M5 but needs high SL requirement

Was looking forward towards potential clearout entry EURJPY, but it just didnt clear the lows deep enough, so no trade. Nothing else on horizon for now.

EURCAD on sight.

+1R:


-0.5R:

Hi go5. I have generally 3 different ways to exit the market and all are based on market variables. Same as Jan teaches, you have to understand the left side of the chart and combined with how price is printed on the right. Very slow and very fast price movement tend to create liquidity gap, which opened the way for our trade to run. So when i see liquidity gap structures: 1. Very fast (quick parabolic moves without retrace or revisit) 2. Very slow (condensed/compressed moves), i i tend to let it run. If i see healthy trend on the left i try to exit as quick as possible at next recent high. That was exit number 1). 2) and 3) are explained in the screenshot

Not much on the fx market today, lets see if equities give some better room for plays.

Yes price target expectations are based on two factors or perhaps two approaches, one is qualitative and other one is quantitative approach. Qualitative approach is the way TheRealDeal pointed it out, its by observing the previous positioning of market and using logical expectations on how should that positioning reflect on market move, along with that also once trader is in position carefully watching price and trying to logically make sense if and how price moves if that is good for current position or bad (ticking activity, strong mometum, strong positive trade moves along with slow condensed retraces against trade, things like that...).
The other approach is qualitative approach, this one is fairly superior and yields much more accurate results, however it requires a lot more research time, and data overall, and in some cases if there is no enough or avalible data on order flow its impossible to do it, for example FX markets are often such case.
Qualitative approach can be very nicely used in equity markets or any other markets that have lots of order flow data avalible. For example if you use a scalpel and really dig into outstanding float of shares, current outstanding short positions, symmetry of price development and using that to figure where the strongest densitiy of positions exists, using lots of historical data to back your initial thesis on price target expectation, if such data is carefully put together you can get a pretty accurate info on what the lowest possible expected move should be, especially if its part of liquidation event and not natural continuious demand or supply move.

In the end what will determine which method should be used is if it is worth for that trader to put in substential time to find a quality answer, in most cases it wont be worth it, because the RR ratio will not be enough to consider it, therefore qualitative approach will be used, but for some AAA quality plays where you can actually get data a quantitative approach will be well worth it if you can squeeze many R on that particular trade. Ill try to explain that more in details especially for the second approach on how to approach it on low cap equities, there is still a lot explaining to do overall.

Might be something on AUDNZD but spreads are not tight and the structure is not very symmetric so no play for me on this one.

not very symmeric continuation but so much space below, and i like space

closed EU at BE, it was anyway low quality setup

EKSO potential long play on market open, will look for micro long setups for potential move higher. Whole current move is on pre-market open trading action.

audusd

ASTC also in focus.

105.77 for USDJPY potential long play.

Great clear out opportunity