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Post by bodring on Sept 22, 2015 14:44:22 GMT
U/J Attachments:
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Post by Admin on Sept 22, 2015 15:06:22 GMT
Thread started for posts on the yen vs US dollar market.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Sept 22, 2015 15:13:13 GMT
What you see as a "shake out" I see as simply a retest of an early balance zone that hadn't really been retested yet...clearly where sellers overwhelmed buyers once...there are more sellers in the same area waiting to enter again. I would also anticipate more buyers around the 119.65 area.
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Post by bodring on Sept 22, 2015 15:28:50 GMT
How can u characterize the stong move up to that zone? Why was it so fast?
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Post by bodring on Sept 22, 2015 16:10:53 GMT
Exited the trade with a loss.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Sept 22, 2015 17:04:57 GMT
How can u characterize the stong move up to that zone? Why was it so fast? I would characterize the move you speak of as "fast", not necessarily "strong". Many use that kind of term when they see price move quickly from one point to another, in this case a single candle. What happened was simple. A flood of buy orders were triggered when short positions from above the market were tripped. From an order flow perspective it becomes readily visible when you know to interpret how price action shows the "foot print" of the order flow. Looking at the below chart going from left to right...shorts entered in quickly dominated the market and selling took hold dropping price out the bottom of a larger balance zone...this selling stalled a bit at an earlier balance zone, but then resumed again overwhelming the buying...all the way down to the bottom. Shorts from above the market are now moving their stops down to preserve profit. Additionally I would imagine that some break out buyers are placing orders above a range. When the lower balance area breaks down stops are moved closer to the market. Buying then shows up...maybe profit takers...maybe new buys...I don't really know...but the buying results in a move higher triggering the break out buyers, but they are now trapped. As well late sellers are entering at the top of a potential range. Late sellers do not have the volume to push prices down below the low and hold it there, and more buyers come in. The rise in price starts triggering stops on the shorts, holding from above the market. When the majority of those stops are triggered, you get a HUGE influx in buying orders as the shorts stop out...I call it "whoosh". That is why the candle looks "strong". It is all those buy orders hitting the market. (remember that a stop on a short position is really a buy market order when it is triggered). Price rose into an area where more sellers were waiting and those orders quickly pushed price back down, but as they are now late to the selling party, the selling influence is limited to where more buyers in the market are waiting to push price higher...note that even at this point buyers are having difficulty pushing price up through that same area.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Sept 23, 2015 18:10:43 GMT
Hello friends...I have been alerted to a better way to post images here on this forum that will help us all in a number of ways. If you all wouldn't mind to post your screen shots this way I would really appreciate it. When posting an image please do the following: If you have Metatrader: right click on your chart and chose, "save as picture" Select "active chart (as is)...or any of the selections you wish Check the box marked "Post image online..." Click OK If you have another trading software, go to app.prntscr.com/en/download.html and download their simple and easy to use screen capture. Once this is done you will be taken to the photo that is stored on the web...copy the image address and do the following: Click on the button (inside the forum post editor) "insert image" Paste the image address in the field "image URL" Then click insert image. This will help us in a number of ways...(1) it will make the images much bigger so we don't have to go back and forth between the image and any commentary (2) it will save storage space on those images that are not loaded to the forum...and this helps us stay FREE... Thanks for you help!!
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Post by gowiththeflow on Oct 20, 2015 16:14:03 GMT
USD/JPY Pending Sell Limit Order
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 20, 2015 17:53:18 GMT
Nice spot!! I too am in, got in last week, but I didn't expect that the buyers would penetrate the selling zone as much as they have. I am considering closing with a small loss and re entering higher up...I was expecting selling to come in much lower...
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Post by gowiththeflow on Oct 20, 2015 20:44:52 GMT
Nice spot!! I too am in, got in last week, but I didn't expect that the buyers would penetrate the selling zone as much as they have. I am considering closing with a small loss and re entering higher up...I was expecting selling to come in much lower... I've been used to entering Trades with Stop Orders so the Market Momentum is with you when the Trade triggers. Limit Orders are a lot more tricky to get right.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 21, 2015 12:53:26 GMT
Intraday charts are clearly against my position so I've decided to take a small loss on this market and wait for a more clearly defined signal. Loss is 50 pips
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Jan 12, 2016 15:25:46 GMT
Hello All. For those of you who like to counter trend trade, there is a setup happening right now on the USD/JPY market: Weekly chart has had its lowest close in the last 11 months and now buyers (profit takers and short term scalpers) are holding price and wanting to push it higher. The daily chart has balanced, and the intraday charts are also showing a clearly defined balance area. An intraday rise out of this area and close higher would signal buying dominance and allow us to trade a retest of this balance area. So far that has NOT yet happened but I am watching it. I will NOT be trading this retrace/pull back move, as I am already short from a good position and am looking to add in at the top of this retrace move...assuming I can find it. However, those of you who like counter trend trading, this may present an opportunity for approximately 100-150 pips.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Jan 13, 2016 2:51:04 GMT
Looks like the buyers are starting to dominate the order flow. Assuming this candle closes above the balance zone this set up will be complete
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Jan 13, 2016 19:26:02 GMT
Longs...if I was trading them...would now be triggered.
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Jan 14, 2016 15:32:12 GMT
Update on this market. Buyers are struggling to gain a foot hold, but Sellers have definitely pooped out. More balancing (indtraday) happening. If you are still inclined to buy, now is the time...NOT that I am recommending anything, which in fact I am NOT.
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