Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Niko

Niko´s Log

Recommended Posts

Yes it probably will, now, as I said before, oil is not really that respectful of S/R levels, it ussually overshoots so we will have to wait and see as always.

Share this post


Link to post
Share on other sites

Is inventories day, so I wont trade this market today.

 

In the daily we seem to be forming the RET after the BO, after finding R at the MP of Feb-March TR.

attachment.php?attachmentid=36923&stc=1&d=1377695802

In the hourly we finally broke the DL after midnight and are in the process of making a LH which is bearish.

attachment.php?attachmentid=36924&stc=1&d=1377695802

In the 5 min after a strong downswing buyers were unable to break above the MP of the downmove, bearish as well.

attachment.php?attachmentid=36925&stc=1&d=1377695802

 

At the open sellers pushed for a LH and got what they wanted.

 

Buyers beware

5aa711fc0a244_CL10-13(1440Min)29_08_2013.jpg.88245d5868d5f8976ce5d9fee2b20b3d.jpg

5aa711fc12f8e_CL10-13(60Min)28_08_2013.jpg.48742d7c0b91bd34ccc43df34a49f02f.jpg

5aa711fc186ed_CL10-13(5Min)28_08_2013.jpg.0a49680e91dd82fdc2261bc4f11e9ebc.jpg

Share this post


Link to post
Share on other sites

Couldn't post yesterday.

 

In the daily today looks like we are in the RET that follows the BO of a hinge.

 

attachment.php?attachmentid=36933&stc=1&d=1377868457

 

In the 60 min we are still in a downtrend, but we are facing buyers at 107 and 7.50. Besides we are still above the up trend line from aug 21.

 

attachment.php?attachmentid=36933&stc=1&d=1377868457

 

In the 5 min we started the day in the chop, and S as appeared around 75.

 

attachment.php?attachmentid=36934&stc=1&d=1377868457

 

As always, avoid the chop, waiting for a BO of the TR that formed between 75 and 8.15.

5aa711fc3adbb_CL10-13(1440Min)31_08_2013.jpg.fcd47450133d9da29029ddf8b339f25a.jpg

5aa711fc4094b_CL10-13(5Min)30_08_2013.jpg.7be4bad754c299f9e143e5e3dab0f3d1.jpg

5aa711fc46139_CL10-13(60Min)30_08_2013.jpg.80599f8efbbdfbf30ae756aa1e5bae28.jpg

Share this post


Link to post
Share on other sites

Trade recount:

 

5 min chart

 

attachment.php?attachmentid=36937&stc=1&d=1377882235

 

1 min chart

 

attachment.php?attachmentid=36938&stc=1&d=1377882235

 

1. After prices exited the chop at 10:10 I waited for a test of 20 as S, when there was a strong rejection from buyers at the top of the TR i took the long at 23. But buyers failed to gain a following and prices faded prompting an exit.

 

2. I knew I was in the chop, but sellers had failed to make a LL so i decided to jump in at 06. As I thought 20 could be conflicting i decided to close half my trade at the first sign of danger and leave the rest open at BE. The first half was exited at 13, and the second at 7.

 

3. As sellers failed to get a following I decided to take the next RET in the 1 min, but it failed to break above 20 and then I closed the whole position.

 

4. As buyers had failed to break above 20 and the DL was broken in the 5 min I decided to take the short at 8.00, it proved to be the best decision of the day. Closed half at the break of SL in the 1 min and the other half at the first sign of REV in the 5 min, I could have stayed a little longer for the test of SL in the 5 min but I had to go. Perhaps I should stay a little longer next time :)

5aa711fc50fad_CL10-13(5Min)30_08_2013-2.jpg.a1827deaf8860e4d9b462947b3f8a0e0.jpg

5aa711fc55c74_CL10-13(1Min)30_08_2013.jpg.548a4302146d289278f6db6f2de4ea6a.jpg

Share this post


Link to post
Share on other sites

I would say that the great mistake of the day was not taking the REV off 560, buyers tried to find followers above the PML and failed, this also meant that the traders who where looking an exit above the hinge got trapped. The strong downwave is the view of the heard rushing for the exits.

Analysis.jpg.5322034791b3de84172a20b0335af98e.jpg

Share this post


Link to post
Share on other sites

So it was lack of patience my mistake today, Db stated that it was better to wait for a test of the extremes but somehow I resist to sit on my hands all morning and get creative.

 

If it wasn't for scratching and the fact that I can restrain myself from making stupidities better than before It could have been a messy day. Things to recall and to take into consideration was that I could keep my cool and focus all morning, no matter how boring it was.

 

I guess my regret was not taking that long of the bounce of 39, but then I think It would have reinforce a bad habit, so is a give and take. And always remember, better days (trend days) will come and will make it up for you.

5aa7121dc01e3_NQ06-14(60Min)30_04_2014.jpg.f1b971503f59a86b2711563abe869dcd.jpg

5aa7121dc6693_NQ06-14(1Min)30_04_2014.jpg.92e092d5bf1f2e016e53f4ca45aa826b.jpg

Share this post


Link to post
Share on other sites

Prep-work

 

We are still inside the TC we were yesterday. Seems, as Db mentioned we are on our way to 90.

 

ON traders couldn't find trades above 85 nor 73

 

This thread has been moved to SLAMTZEN in the Wyckoff Forum. In case anyone cares :(

5aa7121dea42a_NQ06-14(60Min)01_05_2014.jpg.39ea89f825ec3975c193fb38627137df.jpg

Edited by Niko

Share this post


Link to post
Share on other sites
hell yes we care! we'll see you around, Good trading

 

Hehe, see you around, good trading to you too. What has happened to your journal?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.