Forex Day Trader's Thread

[NVP]

cracking few days on the Gu guys ...any luck there at all ?

 

[Fugazsy]

the main thing here were heavy volumes that were most likely created by big players. Then they pushed the price down. This created a strong level from big guys initiated their action. Have look at the same picture. I added some description.View attachment 230516

Dale

Thank you, all clear now....Where is showing most of the changing hands of the previous day before the wagon left confirmed by Price Action in a sort of Supply and Demand. Intersesting.

One question for entry: Do you set limit orders or you just mark the levels monitoring the chart and enter with additional price action at your levels?

 

[Fugazsy]

cracking few days on the Gu guys ...any luck there at all ?

Yes, took two trade during London session today, both short on the 5tf, first was a Lower high after a major trend line break and second a triangle/range Break out.

1.22 held considering it was broken at the break out and the rest of the day went into range kind of sort of....

 

[Trader Dale]

Dale

Thank you, all clear now....Where is showing most of the changing hands of the previous day before the wagon left confirmed by Price Action in a sort of Supply and Demand. Intersesting.

One question for entry: Do you set limit orders or you just mark the levels monitoring the chart and enter with additional price action at your levels?

Exactly. You got it mate!
I don't set limits. Always sit and watch and then enter with market order. I don't wait for any price action confirmation.
Sometimes the market turns lets say 1-3 pips before the level and makes significant reaction. If this happens I consider the level tested and don't enter it again.

 

[NVP]

the main thing here were heavy volumes that were most likely created by big players. Then they pushed the price down. This created a strong level from big guys initiated their action. Have look at the same picture. I added some description.View attachment 230516

I’ve never been convinced about the concept of using volume on forex.....other markets that present a decent ringfenced market with more reliable volume information feel more appropriate to me ....

How’s it going using this approach ?

N

 

[Trader Dale]

I’ve never been convinced about the concept of using volume on forex.....other markets that present a decent ringfenced market with more reliable volume information feel more appropriate to me ....

How’s it going using this approach ?

N

Hello,
what I do is that I do my analysis on futures and then transfer the levels into forex. This is the most precise way.
Still, if you use a big broker their data is actually pretty reliable when compared to futures data. It is surprising but I have been comparing these two for years and it is very similar.