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@  Cookiebrawler : (17 September 2019 - 04:27 PM) MegaMoney 90%
@  aasir : (16 September 2019 - 10:25 PM) Binary Triumph
@  traderpusa : (10 September 2019 - 01:35 AM) that was my bmw lol. E60.
@  Monoaldo : (10 September 2019 - 01:34 AM) E60
@  manfloy : (09 September 2019 - 11:12 AM) well said.
@  traderpusa : (09 September 2019 - 11:07 AM) at least for the moment, china will hold back because of economic conditions. My guess is they want to involve PLA but simply are not in a position to do so for the moment.
@  traderpusa : (09 September 2019 - 11:05 AM) well, regardless of any agreement between uk and europe, there is still nato is trump doesn't blow it up lol
@  manfloy : (09 September 2019 - 11:04 AM) I am really worried about HK if the PLA phase in this can interrupt the entire chain between FX liquidity and current import / export countries. I understand that we have a bunch of corporations exposed to China, now believe that 99 percent of them are stable in HK because they have a high law. If the PLA gets in, they'll substitute this economic centre with a singapore.
@  manfloy : (09 September 2019 - 11:04 AM) Yeah, they're really a very significant player. I am informed that there is also a lot more than economic, for instance there are a number of military agreements agreed between the GB and the EU, which is serious.
@  traderpusa : (09 September 2019 - 11:02 AM) the UK being part of the EU GDP figures, but not part of the Euro only makes things a bit complicated on how to interpret numbers for trading purposes.
@  traderpusa : (09 September 2019 - 11:00 AM) of course one needs to focus on US being the biggest economy but UK is still up there. https://gyazo.com/42...39df1c7c58d9221
@  manfloy : (09 September 2019 - 10:56 AM) I'm focused on the US, so I don't spend so much on the GB, I'm supposed to study it well since 2015, but something has altered worldwide, literally, it's an enormous step in the world's liquidity and global system, modifications are nice, but they're really colorful.
@  manfloy : (09 September 2019 - 10:56 AM) thanks good reading
@  traderpusa : (09 September 2019 - 10:53 AM) As to China, read this over the weekend : https://apnews.com/6...f75f013bf54e6a9
@  manfloy : (09 September 2019 - 10:51 AM) Spectacular indeed lol, this is huge to be honest
@  traderpusa : (09 September 2019 - 10:47 AM) it's gonna be interesting. MP's are leaving the sinking ship and now also Bercow has resigned. Gonna miss this guy lol
@  traderpusa : (09 September 2019 - 10:46 AM) https://gyazo.com/58...16d785753060ff0
@  manfloy : (09 September 2019 - 10:44 AM) I am very concerned about GBP, I have decided to leave until the government is making some definite deals on the Brexit. I'm not a supporter of uncertainty.
@  manfloy : (09 September 2019 - 10:42 AM) US It is expected to rebound until new years, because the season is coming and everyone is ready for new year revenues.
@  manfloy : (09 September 2019 - 10:41 AM) China is underwater now, and I can't even define how starving they are for dollars. Their imports fell significantly last quarter. They're trying to stimulate again, but I don't think it should work out, more than: we're back to the 2014/2015 situation. The issue with the Chinese central bank cutting off the supply of cash, the issue that they are not diversified around the world.

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5-15 Minutes Price Action Order flow strategy

Price Action PA 5 minutes context candle

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#1 tcr

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Posted 02 March 2017 - 02:48 AM

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Hello guys,

 

I have learned price action and order flow behind price action to a some level and i'm still learning those skills. I applied those skills in binary options and they worked. But to tel the truth i don't have consistency in trading. I'm starting this new thread to improve my consistency and share my skills on chart reading. This is not a strategy for novices. You should have some experience plus knowledge about price action and order flow behind it.

 

This is not a regular pattern trading method like entering trade after pin bars, engulf, morning star or any PA pattern. This is about reading candles and understanding the order flow (dominance of bulls and bears). Usually i watch 5M chart and enter 10 - 15 minutes trades. I don't wait for confirmation candle like pin bar or what ever. Core of this strategy is reading candlesticks, understand order flow and build a story and then enter trade once price reached the appropriate level on the chart.For this you need screen time.

 

I don't use any fancy indicators.I use only  20 EMA, Round Number indicator, Price label indicator, candle time indicator and SR level (Barry) with alerts indicator.

 

And guys believe me, trading is not only about skill to read charts. It's about psychology and your power of mind. So as a habit, i meditate everyday once in the morning and night before i go to bed.

To make consistent profits, you must have a good mindset.

 

I trade only EUR/USD, GBP/USD and USD/JPY. 

 

Here are indicators and my template.

 

Attached File  Indis and template.zip   51.14KB   277 downloads

 

Here is a trade that i have made.

xsGBf9t.png

 

Let the discussion begin guys....


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#2 raydioturner

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Posted 02 March 2017 - 06:04 AM

I love trading price action and will be following this thread. Let me also say thanks for the indi pack you attached for download. I haven't done anything with them, but may throw them up later to see what they're about. I also really liked reading your thoughts behind your chart work. I think it nicely displays all of the hours you've spent learning your craft. Next, I like the key area you marked off because the bears were obviously willing to step in to defend that area every time banks were buying into that selling pressure, noted by the HL's, by creating the LH's you noted. I found it interesting that you chose this particular chart, because I watching this unfold yesterday at my office. One thing I was looking at specifically as an area of interest, was this 5300 area where buyers really started to step in causing the market to really struggled around. As the market came down to this level, buyers started appearing more and institutions started buying up orders stacked in this area. By the time the market came down to your  highlighted area the bears started to slow way down down, like the breaks were starting to be applied. The majority of the candles in this area were mid-range closed candles which also closed within the range of the proceeding candle. We got a final false break down in this area, which trapped some traders short and bought up some of the SL's from the guys that previously bought into that selling pressure. To me, the pre-news pop up confirmed that institutions had accumulated the orders that they needed by sending the market above the previous LH swing. Now, I don't trade news, but wasn't it interesting that the institutions sent the markets down to this area one last time to scrape up the last remaining orders before finally releasing the market back up. Again, you have some really nice chart work going on here and look forward to seeing this thread unfold.


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#3 tcr

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Posted 02 March 2017 - 10:37 AM

I love trading price action and will be following this thread. Let me also say thanks for the indi pack you attached for download. I haven't done anything with them, but may throw them up later to see what they're about. I also really liked reading your thoughts behind your chart work. I think it nicely displays all of the hours you've spent learning your craft. Next, I like the key area you marked off because the bears were obviously willing to step in to defend that area every time banks were buying into that selling pressure, noted by the HL's, by creating the LH's you noted. I found it interesting that you chose this particular chart, because I watching this unfold yesterday at my office. One thing I was looking at specifically as an area of interest, was this 5300 area where buyers really started to step in causing the market to really struggled around. As the market came down to this level, buyers started appearing more and institutions started buying up orders stacked in this area. By the time the market came down to your  highlighted area the bears started to slow way down down, like the breaks were starting to be applied. The majority of the candles in this area were mid-range closed candles which also closed within the range of the proceeding candle. We got a final false break down in this area, which trapped some traders short and bought up some of the SL's from the guys that previously bought into that selling pressure. To me, the pre-news pop up confirmed that institutions had accumulated the orders that they needed by sending the market above the previous LH swing. Now, I don't trade news, but wasn't it interesting that the institutions sent the markets down to this area one last time to scrape up the last remaining orders before finally releasing the market back up. Again, you have some really nice chart work going on here and look forward to seeing this thread unfold.

 

Hello @raydioturner. Thanks for the post. I'm really trying to improve my skill set and avoid mistakes. By sharing the story behind the price action, others can understand about how to enter trades (specially for those who are keen to learn order flow and institutional bias).


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#4 tcr

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Posted 02 March 2017 - 10:43 AM

Here is another trade. But it is an OTM. It was my mistake. Trading against the trend. 

 

I started this thread to show how i read charts. Not to show my glory or wins. I make mistakes while trading and i share them too. (OTM s). Share your thoughts on chart. Share the story behind the trade. So everyone can learn.

 

jWjPYTQ.png

 

I made a mistake here by trading against the trend and ignored those Higher Highs...

I missed a trade here unfortunately. That was a good value area. Bull definitely come to defend that area and this was an uptrend after all.


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#5 tcr

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Posted 02 March 2017 - 10:49 AM

Here is another trade. It was ITM. :) 

HdlKOuh.png

 

I'm mentioning again guys. Don't wait for confirmation candles. If i wait for a confirmation here (probably a pin bar) i could have missed this trade.

I triggered call button when that large bear bar pierced the key level by few pips and at that low of the candle.

Don't wait for confirmation. Wait for the perfect price level for the trade.


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#6 raydioturner

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Posted 02 March 2017 - 10:49 PM

You mentioned on your UJ trade that you shouldn't trade counter-trend. Yes, I agree that going with trend is safer and less risky, but I think if there's enough reasons stacked up to take that counter trend trade then why not. But, I think the reasons like how price is acting as it forms, levels, etc really need to be strong. 

 

2017-03-02_2033.png

2 trades on UJ today. First trade marked by arrow, was risky due to the previous long wick of rejection. However, still had not gotten to the first swing in the highlighted area, so there was room for continued move up. Plus, there was still still some bullish momentum given the sharp angle of the drive up. Ended with a win, but I knew the fallout was coming. The highlighted area is the 500 area and you can see there was starting to become a lot of selling into the buying pressure given the multiple rejections,  how price struggled in this area, and the impulsive moves back out of this area. . What I'm seeing in this area is accumulation taking place. Market Makers can't simply click the buy/sell  buttons on their advanced "mt4" platforms, so they need to create their positions before they release the markets. They do 2 more swings up before finally achieving their goal and down she falls. Just as NY closed gave a nice role reversal entry and as the Asian session began they pushed up one more time before falling. I took another trade in direction of momentum and a failed test of resistance to close the night off. The trigger candle was way bigger than I liked to see, but UJ finally started correlating with EU again which added to the reasons for me. 

 

2017-03-02_2142.png

 

2 more trades to close out the evening. First trade got in as price was at resistance, but I had expected price to fill in the wicks of previous candles which happened 20 min later. Trade ended losing. 2nd trade, price retraced down to short term support where we had multiple rejections and a failure to close below the candle wicks. Trade was on next candle for a win.      


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#7 tcr

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Posted 03 March 2017 - 01:20 AM

This is another trade i made yesterday. But it was an OTM unfortunately. I went for a 25 minute options because my BO broker didn't offer me a 15 minute options at that time. If it was a 15 minute option it could have been an ITM by few pips. See the next move was a bullish leg.

wNOXQj9.png

 

Is this just unlucky or can anyone point out a mistake here....


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#8 tcr

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Posted 03 March 2017 - 09:03 AM

Here is another trade.

XYSzFgi.png


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#9 tcr

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Posted 03 March 2017 - 09:03 AM

g103xm9.png


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#10 tcr

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Posted 03 March 2017 - 09:05 AM

Above two trades were great setups. But i missed those opportunities today because i felt fear to make the trigger. This is a very bad habit i have from the beginning.

Have to work on my mindset.

 

Success in trading = Good mindset + Good skill set + Good money management.


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#11 LambdaBinary

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Posted 05 March 2017 - 01:22 AM

This is great. I believe price action is the best strategy and indicator too. I have also posted few free videos on same topic here on my YouTube channel:

 

 


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#12 BrianC

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Posted 05 March 2017 - 04:40 AM

Great topic. Let us keep this kind of threads from sinking in a sea of indicator hunting  :)


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#13 raydioturner

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Posted 05 March 2017 - 05:59 PM

3 trades the last hour of trading from Friday. I want to note the 34200 and the 33900 areas on UCAD Friday. You can see that these areas proved to be strong for the pair noted by the impulsive pushes away from the areas as price reached these levels. The way I saw it, was that there were a ton of orders in these areas that the banks wanted to scoop up evidenced by many false breaks, long wicks, and immediate rejections as price reacted in this area. As the trading week started to wind down, we had a small corrective move away from the 33900 area signaling a weakening of bullish presence and followed by a strong bearish push down. The banks have finally gotten enough orders to send price down. However, price sucked back up in the final second as I entered giving me a bad entry and losing the trade, this was a final shake out of any remaining bulls in the market. Reentry came 15 min later when we got an actual close below 33900 signaling bearish strength. Did a positive martingale on this one, increasing money on next valid setup instead of next candle, and won. 2017-03-05_1520.png

 

Trade 3 for the day was a nice role reversal trade. A lot of the same characteristics as UCAD. Price rejects hard out of the 75800 area building up a lot of steam and impulsively breaking this area before retesting twice. I didn't care for the first retest, I like to see evidence of some slowing, which I got on the second retest. Solid entry and win. 2017-03-05_1528.png


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#14 raydioturner

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Posted 05 March 2017 - 07:06 PM

Nice trade to start the week off on UJ. Price came down to the 113.900 level, previous days low, while banks impulsively pushed away from. After a corrective move to the 114.100 level we start to see a more aggressive selloff back into the 113.900. Candle A shows rejection and a possible counter-trend play, and candle B slammed down, closing within the wick of the opening candle. 2017-03-05_1752.png


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#15 raydioturner

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Posted 05 March 2017 - 08:41 PM

This is another trade i made yesterday. But it was an OTM unfortunately. I went for a 25 minute options because my BO broker didn't offer me a 15 minute options at that time. If it was a 15 minute option it could have been an ITM by few pips. See the next move was a bullish leg.

wNOXQj9.png

 

Is this just unlucky or can anyone point out a mistake here....

 looks like a solid trade IMO. You had a nice level picked out, and good analysis behind it. Overall, I'd say great read. It sounds like your broker simply got one on you by not having the expiry you wanted. Hopefully, you got in on a reentry or made it up on your following trade. 



#16 tcr

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Posted 05 March 2017 - 11:37 PM

Trade 3 for the day was a nice role reversal trade. A lot of the same characteristics as UCAD. Price rejects hard out of the 75800 area building up a lot of steam and impulsively breaking this area before retesting twice. I didn't care for the first retest, I like to see evidence of some slowing, which I got on the second retest. Solid entry and win. 2017-03-05_1528.png

Nice and clean setup here. I like those kind of setups. Role reversal setups


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#17 tcr

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Posted 06 March 2017 - 04:03 AM

SCZL5jq.png

 

This was another good setup. But however i missed it. I was waiting for price to get to the exact level. But it didn't and it reversed about 2-3 pips below the marked level. This is a common mistake i do. waiting to fill that 2-3 pip gap.   


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#18 tcr

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Posted 06 March 2017 - 04:29 AM

This is great. I believe price action is the best strategy and indicator too. I have also posted few free videos on same topic here on my YouTube channel:

 

 

 

Good stuff bro. Price action and order flow behind price action is the core model of trading forex and binaries 


First you Learn. Then you remove the letter "L"  :)

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#19 tcr

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Posted 06 March 2017 - 06:54 AM

59QEai5.png

 

In this chart, the pair was not in a good down trend. But based on the conditions i took an entry. It as an ITM on 15 minute option, but the price didn't follow through down after pulling back to the level. As i think, there the reasons for not following through are

 

1. Pair was not in a strong down trend. Just and intraday bearish dominance.

2. The key level i have marked is not a perfect type level. I mean there are no much touches on it. (LH s and multiple touches and bears broke out without any clear signs of pre breakout characteristics.


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#20 tcr

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Posted 07 March 2017 - 03:45 AM

xR6xywP.png

 

This is a good setup. Entered in a value area. I entered for a 30 minute expiry on this because i forgot to adjust BO broker platform time. It is an ITM and if it was 15 M exp. that is also a win though.

 

Bears brought the market down for me  :D  :D

 

There is a weekly low which cannot be seen on this chart. That low is protected with some large bulls as it seems because, there has been an impulsive bull move from that low. My guess was bears are going to break that weekly low based on the conditions above. And i'm right. As i'm typing this post bears have broke the weekly low level. 

I should be look for a pullback reversal play on that level....


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