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

Closed break even. Was up 10R ...but worth the gomble.

gold possible pop.

usdtry

Hi jan, excellent trades, do you mind to explain how do you determine your TP levels?

TP is based on structural depth. 1:1 structure to TP ratio in terms of depth. So if you take high to low distance is 10 pips in most structural lows, then the TP is also aprox 10 pips, if structure is more asymmetric and has some lows / highs distance 5 pips and other 10 pips, then ill take aprox medium of that so about 7 or 8 pips.

Hi Janpec, is it difficult at times to pay the spreads for trading FX with the small movements you are trading?

You may be using some sort of options for FX - wasn't sure.

Finally, found wonderful 1m trading thread. i've been searching for so long. thank you. I'll try learn as much as i can from this thread.

I use ECN broker, its a must to trade M1. I was using digital options too before yes, but those got banned this year for EU traders.

Took one on gold, slow day today, focusing mostly on equities.

RUB on watch, possible B play.

Hi janpec,

i've read some pages of this thread, and i've been trying to implement the concept.
i've just taken this trade from UJ, do you think it's a valid pattern?

I haven't read all posting, but i want to ask you about how to differ fakeout/clearout and takeout?
i mean when price ranging between support and resistance, when it break, how can we know is it fakeout or true breakout?

example below:
1. Price broke below, as fakeout

2. Price broke above, as true breakout


My understanding is maybe it depends on how many high or low tested, the second picture is when price test 3 high then i think the breakout will be more reliable

Understanding difference and spotting it in realtime between fbo and proper break is something that takes probably 2 years or more in trading practice and observations. Its mostly about the details thats why, i can give you some directions but in the end you will still need to put in a lot of work before getting it.

-Volume. If break is on soft volume then its likely not a clearout, thus its more likely to be breakout with followtrough. It goes against what you will read in most books (true breakouts are on strong volume) but it is true. Statistics say so.

-Details about how price was behaving before it made a break. Was the move targeted into the breakout zone or not, the best way to indicate targeted (huge market order) move into breakout level is if price made strong M1 push from middle of nowhere (in middle of structure where there is no big supply / demand imbalance).There are few examples in thread where i explained that.

-Rejection. Does price after break comes back to breakout level and rejects it clearly, with strong quick bounce back (or does L2 shows huge bids / offers on tape in equities). Again this takes a lot of practice to get it right.

-Was there huge condensed area of stops (SLs) in area of breakout (depends on asset and time, and many factors ), you can use liquidity books (not reliable in FX) or overall trend direction to determine that. For example if structue is in same direction as overall strong trend then its likely to have denser SLs of counter order flow around it.

Youll need to go trough the whole thread and save the examples where i showed targeted clearouts and some proper breakouts and study those over and over to tell the difference. There is no easy lunch in trading sadly.

USDDKK longed.

Thank you for your response
Actually i have been summarizing your posting from page 1 and copy-paste every picture you posted. It's very helpful and i believe i'm following right track.
I'll keep studying cause i believe there will be so much valuable information

Thank you for your time

Nu

Thin markets over last 2 weeks, not much market maker activity. Focusing mainly on equities, FX comes back in play after new year.

ga

usddkk A grade play, ballz in.

usddkk, bounce play still valid though.,