The macro analysis for Friday is straight forward. Market has problems to trade above wol. High target - 162.987, low target 161.32/160.832 Daily range has narrowed. If this range expands, there's good money to make else another dull day. Cheers

Flying Dutchman

Earlier you wrote this. If the target is dol or wol, then wouldn't the London low be the day low? And Danger-Mouse wrote this. Once you "see" this pullback to buy up to dol, wol, as valid, you must also conclude at the same time London low is day ...

Flying Dutchman

Nice and complete explanation. When you execute your short trade at dol, you already know the profit take target has to be a new low. You can press the sell button anytime on the way down. Cheers

Flying Dutchman

The one that you mark - low. On the 24/8.

Flying Dutchman

The one on the left in Tokyo session. Follow up hindsight technical question(same question posed in a different way), When do you realise in real time, if at all, that the London low 160.832 will most likely be the day low?

Flying Dutchman

Hi angelofx, the challenge is to mark them before it happen, that's how we gain an edge. Markets don't trade in a void vacumn, they trade in clear demarcation. Look how easy to scalp for pips. Which I strongly recommend don't scalp if you want to be ...

Flying Dutchman

Hi whitesta, I waited 2 days to see if you recognise this important question. Ponder deep why this is a very important question. Cheers

Flying Dutchman

Hi whitesta, let me continue. You will notice by now, I don't use typical forum jargon in my post. Because those jargons are nonsense. I also don't repeat typical forum narratives, again those narratives are nonsense. I dedicated a post that I ...

Flying Dutchman

Hi whitesta, let me explain why dol and wol are important lines in the sand. What you've learned is that technical analysis has to be anchored to a reference point for it to be meaningful. This universal reference point is dol and wol for intraday ...

Flying Dutchman

Same short trade at wol NY session. Same "blindness" issue. More volatile, more fear, more "blindness".

Flying Dutchman

There's only one short trade opportunity in early London session when market traded above wol. It happened fast so requires prepared anticipation of this trade, and trust in macro analysis that market will trade below wol - same "blindness" issue. ...

Flying Dutchman

Hi whitesta, I realised I've spammed Andy's thread. So, you continue with the rest of the folks. I take a step back from posting. Cheers

Flying Dutchman

Calling a change in dol bias is an advance chapter of intraday trading. For yesterday's market it traded on one side only. For starters, it's best to find pairs that trade on one side, ie. the market bias is simple and certain that it's one sided. ...

Flying Dutchman

First point, for reversal trades which is more risky you want to be extra prudent. You wait for market to show you this reversal intent. Enter on the pullback. 2nd point, you have to identify a target for this reversal. It may or may not be above ...

Flying Dutchman

That's why I kept reminding whitesta to update his macro analysis to keep it real time. We don't want to be rigid with our analysis, but be prepared and nimble to change as the market show us.

Flying Dutchman

Correct. It's not the analysis, rather it's the "blindness" that traders experience. Due to the "opposite" orientation when market trade on the "opposite" side of our macro analysis.

Flying Dutchman

Hi Danger-Mouse, the whole point of the exercise with whitesta is to remove everything and keep him focused and orientated with the dol. This is chapter one of daytrading. Traders has to be mindful throughout the day whether market will trade above ...

Flying Dutchman

Yes this is the hardest, market traded on the opposite side of the dol that's against your macro analysis. It's counter-intuitive that cause this "blindness". Now you recognise it, take remedial action by repetitive practise. Many traders are ...

Flying Dutchman

Why not? Is there any difference between this trade and the rest? Or is it a case of "blindness"?

Flying Dutchman

Both you and Danger-Mouse saw this reversal trade opportunity which is good. For such a reversal trade you need to have a target. You are correct, dol or wol. You must be mentally prepared in real time to expect this reversal at any time during the ...

Flying Dutchman