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#Post#: 37--------------------------------------------------
Re: Post Your Opportunities Here
By: Jamie Date: February 10, 2021, 12:08 am
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I have just entered a long position for around 5R. Its an ABE on
USDCHF. 5 pip stop with 25 target. There is a strong 15m supply
zone confluence while price has met the trend line. The target
is a swing high on the 1H chart as I don't feel price will
bounce so far because of dollar weakness across the board.
Stopped out!
#Post#: 38--------------------------------------------------
Re: Post Your Opportunities Here
By: AshF Date: February 10, 2021, 7:33 am
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1 hour ABE setup with 15 min confirmation.
5:1 R:R
Since seeing opportunity it's already hit target without a
pullback so no trade this time.
#Post#: 39--------------------------------------------------
Re: Post Your Opportunities Here
By: TyroneArcher Date: February 10, 2021, 12:05 pm
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[quote author=Jamie link=topic=6.msg37#msg37 date=1612937287]
I have just entered a long position for around 5R. Its an ABE on
USDCHF. 5 pip stop with 25 target. There is a strong 15m supply
zone confluence while price has met the trend line. The target
is a swing high on the 1H chart as I don't feel price will
bounce so far because of dollar weakness across the board.
Stopped out!
[/quote]
The 15 Min level was fresh but not an original level so I wanted
price to bounce from here ideally breaking the 60 Min down trend
line. I had an aggressive 15 Min trend line break & placed an
order to buy which did not get activated due to the increase in
spread during market 5 min close & reopen. I waited for spread
to settle before placing an 8 pip buy limit. I was stopped out
during the night. Ceased trading. Note to self: If not looking
clean then wait for 60 Min Trend Line break as confirmation for
a 60 Min Double Bottom. This could save more losses over time.
#Post#: 40--------------------------------------------------
Re: Post Your Opportunities Here
By: TyroneArcher Date: February 10, 2021, 12:07 pm
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[quote author=AshF link=topic=6.msg38#msg38 date=1612963980]
1 hour ABE setup with 15 min confirmation.
5:1 R:R
Since seeing opportunity it's already hit target without a
pullback so no trade this time.
[/quote]
Very nice setup. Shame price didn't retrace for entry. Needs to
be cancelled now due to price already reaching Target area.
Great analysis.
#Post#: 41--------------------------------------------------
Re: Post Your Opportunities Here
By: Jamie Date: February 10, 2021, 12:16 pm
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There is a Daily supply level with USDCHF. The zone doesn't look
so great but price has come back in mirror fashion and there is
a fresh 15m supply there. Just wanted to see what you think?
#Post#: 42--------------------------------------------------
Re: Post Your Opportunities Here
By: TyroneArcher Date: February 10, 2021, 12:41 pm
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This is a good Daily Demand touching Weekly RBR Demand. Its a
very aggressive 15 Min Level and its not original so I would
never buy from a lower time frame counter trend level unless its
at a Higher time frame trend line touch or extreme of HTF level.
What I do is wait for the 60 Min Trend line to be broken then a
pull back to 60 Min DB Demand. I will talk about this in todays
analysis video. Just about to make it now.
#Post#: 43--------------------------------------------------
Re: Post Your Opportunities Here
By: Jamie Date: February 11, 2021, 11:00 am
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An ABE set up almost in play with NZDUSD. Going to wait for a
lower TF confirmation.
#Post#: 44--------------------------------------------------
Re: Post Your Opportunities Here
By: Jamie Date: February 11, 2021, 11:56 am
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I entered this with a one minute confirmation entry. I was a
touch to late so I entered one pip higher than the zone but I
still have a 5 to 1 RR. Entry 0.7225 4 pip stop and 20 pip
target which is the highest close from the swing on the 1 hour
chart which I forgot to place.
Stopped out
#Post#: 45--------------------------------------------------
Re: Post Your Opportunities Here
By: Jamie Date: February 11, 2021, 12:29 pm
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Going to give this trade another go as there is now a 5 minute
confirmation entry. This time I have placed a buy limit.
#Post#: 46--------------------------------------------------
Re: Post Your Opportunities Here
By: TyroneArcher Date: February 11, 2021, 12:50 pm
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You were right about the Higher Time Frame ABE - Spot on. The
lower time frame confirmation happened after the trend line
break so really you want this to happen bouncing off the trend
line or ideally just before so that when price retraces back to
your lower time frame level, you are bouncing off the trend
line. If higher time frame is a Daily, Weekly, Monthly & the
lower time frame was a 15, 30 or 60 min chart then the odds
maybe worth the gamble because of the reward to risk but if
price spikes through trend line and closes the wrong side of the
trend line then its a no go for sure.
Its frustrating I know but quality over quantity. Your on the
right path. I actually took a GBPUSD long last night but didn't
have time to post so I did not want to put this on the facebook
after the fact or on the trading log as a winner. I will only
put the winners on trades setups I place before the fact to give
confidence to those that follow.
But here is the GBPUSD trade so you can see the difference in
being patient for the right setup. FOMO (Fear of missing out) is
the hardest part of trading especially when you want to try
something new out. instead we take too many medium quality
trades which add the losses up quickly. It's hard enough to
become profitable even with high quality setups but this limits
your losses.
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