Forex Trading Opportunities
Trading Opportunities => 100% FREE so click HERE to enter => Forex Opportunities => Topic started by: TyroneArcher on February 05, 2021, 11:04:29 pm
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USDCHF Two Sell Limit Setups.
1 - Daily DT (Huge RR)
2 - 240/60 ABE ( Just over 5 to 1) plus there is a 60 Min DT inside 240 DBD Limit area, which is a confirmation due to waiting to time with trend line touch and to reduce Risk pip size.
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USDJPY Still in play.
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USDCAD Two Buy Limit Orders - Both DB setups.
One - 240
2nd - Daily
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Potential 4 hour ABE set and forget sell set up on USDJPY. Would it be better to wait for confirmation on this?
Yes this looks good. This can be a limit sell because the supply level on the HTF is a Fresh & Original level. Also lower uptrend ABE is a confirmation.
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8 hour DB set up on EURGBP. Is this something you'd consider Tyrone?
Not for me as I look for the very low pivot and bounce around time frames to see if this is a quality DB. You have placed the level on an ABE area if you think about it. This is how I would play it so watch to see if the ABE trend line is broken. If so I wouldn't trade it. I will also talk about this in next video.
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Here is the 1H. If its valid to your strategy and I was to place a sell limit at the extreme am I right in thinking it would need to be cancelled if price made a lower low on the 1H before hand? There is a high pip target of well over a hundred pips for a 10 pip stop on this trade
The Daily is just purely a level with no trend line ABE.in fact its really a Daily Double bottom setup. Yes price can bounce from your Daily level but its not a setup for me. The 60 min has produced an ABE pattern so if I was to trade this I would look for profit margin purely on the 60 min. If your strategy says go for the daily low then if you get in, manage it down to Daily low but this is not an opportunity as I see it. Good stuff though. I've got great ideas for next video.
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Ahh ok Tyrone. I thought because the 1H candle hadn't closed below the trendline that the set up was valid with your strategy for some reason. Thanks again!
No you are right but...it will depend on quality of level below trend line on HTF also I tend to find the higher the time frame the more chance of a fake out. So if this was a Daily and 60min combo and the 60 produces a double bottom the probabilities are better and so is the profit margin. It's the intraday time frames that are not as probable as the Daily/Weekl/Monthly TFs.
I will talk about this in next video.
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Potential 4 hour DT on AUDUSD?
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Potential 4 hour ABE set and forget sell set up on USDJPY. Would it be better to wait for confirmation on this?
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8 hour DB set up on EURGBP. Is this something you'd consider Tyrone?
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Here is the 1H. If its valid to your strategy and I was to place a sell limit at the extreme am I right in thinking it would need to be cancelled if price made a lower low on the 1H before hand? There is a high pip target of well over a hundred pips for a 10 pip stop on this trade
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This is very similar to USDCHF earlier in the week but this time there is a 1 hour trend line break so a possible sell limit entry for double top near the extreme.
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Ahh ok Tyrone. I thought because the 1H candle hadn't closed below the trendline that the set up was valid with your strategy for some reason. Thanks again!
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You were right about the Higher Time Frame ABE - Spot on. The lower time frame confirmation happened after the trend line break so really you want this to happen bouncing off the trend line or ideally just before so that when price retraces back to your lower time frame level, you are bouncing off the trend line. If higher time frame is a Daily, Weekly, Monthly & the lower time frame was a 15, 30 or 60 min chart then the odds maybe worth the gamble because of the reward to risk but if price spikes through trend line and closes the wrong side of the trend line then its a no go for sure.
Its frustrating I know but quality over quantity. Your on the right path. I actually took a GBPUSD long last night but didn't have time to post so I did not want to put this on the facebook after the fact or on the trading log as a winner. I will only put the winners on trades setups I place before the fact to give confidence to those that follow.
But here is the GBPUSD trade so you can see the difference in being patient for the right setup. FOMO (Fear of missing out) is the hardest part of trading especially when you want to try something new out. instead we take too many medium quality trades which add the losses up quickly. It's hard enough to become profitable even with high quality setups but this limits your losses.
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Going to give this trade another go as there is now a 5 minute confirmation entry. This time I have placed a buy limit.
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I entered this with a one minute confirmation entry. I was a touch to late so I entered one pip higher than the zone but I still have a 5 to 1 RR. Entry 0.7225 4 pip stop and 20 pip target which is the highest close from the swing on the 1 hour chart which I forgot to place.
Stopped out
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An ABE set up almost in play with NZDUSD. Going to wait for a lower TF confirmation.
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This is a good Daily Demand touching Weekly RBR Demand. Its a very aggressive 15 Min Level and its not original so I would never buy from a lower time frame counter trend level unless its at a Higher time frame trend line touch or extreme of HTF level.
What I do is wait for the 60 Min Trend line to be broken then a pull back to 60 Min DB Demand. I will talk about this in todays analysis video. Just about to make it now.
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There is a Daily supply level with USDCHF. The zone doesn't look so great but price has come back in mirror fashion and there is a fresh 15m supply there. Just wanted to see what you think?
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1 hour ABE setup with 15 min confirmation.
5:1 R:R
Since seeing opportunity it's already hit target without a pullback so no trade this time.
Very nice setup. Shame price didn't retrace for entry. Needs to be cancelled now due to price already reaching Target area.
Great analysis.
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I have just entered a long position for around 5R. Its an ABE on USDCHF. 5 pip stop with 25 target. There is a strong 15m supply zone confluence while price has met the trend line. The target is a swing high on the 1H chart as I don't feel price will bounce so far because of dollar weakness across the board.
Stopped out!
The 15 Min level was fresh but not an original level so I wanted price to bounce from here ideally breaking the 60 Min down trend line. I had an aggressive 15 Min trend line break & placed an order to buy which did not get activated due to the increase in spread during market 5 min close & reopen. I waited for spread to settle before placing an 8 pip buy limit. I was stopped out during the night. Ceased trading. Note to self: If not looking clean then wait for 60 Min Trend Line break as confirmation for a 60 Min Double Bottom. This could save more losses over time.
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1 hour ABE setup with 15 min confirmation.
5:1 R:R
Since seeing opportunity it's already hit target without a pullback so no trade this time.
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I have just entered a long position for around 5R. Its an ABE on USDCHF. 5 pip stop with 25 target. There is a strong 15m supply zone confluence while price has met the trend line. The target is a swing high on the 1H chart as I don't feel price will bounce so far because of dollar weakness across the board.
Stopped out!
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I also saw a 1 hour/4 hour ABE set up on AUDUSD with 5 minute confirmation. I didn't take it as I saw it after the fact. Stop would be moved to break even if in trade though.
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Nice analysis though. I find that lower time frame levels that are created the other side of the Higher time frame ABE are not as reliable but still worth the risk of 1%.
Thanks for posting the setup.
I will make an analysis video soon to go through these setups.
Keep it up.
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Looks like it blew straight through this one. Ah well, onto the next.
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Hi guys, first post here. Thanks for creating this forum Tyrone. Here's an image of the EURUSD ABE set up. I've seen a 15 minute confirmation.
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EURUSD 4h ABE pattern. Going to look for confirmation for this trade
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Overall Jamie pretty good analysis. What you want to do though is show Target area so others can see how to work out RR.
The USDJPY Setup was not a double top but an ABE. Only DT are at extreme High or Low.
Lower time frame levels were during the London/US sessions and Original levels too. Good job. Shame no pullbacks today. Keep analysing and be patient. Something will come to you soon.
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AUDUSD 1H
Possible ABE pattern. With a strong demand zone on the 15M
This was a good setup. Shame no pullback to 15 Min Demand at ABE touch.
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Here is a DT set up with USDJPY on 4H with a strong supply zone inside on the 15m
This is not a Double top but an 4h ABE. The double top has already played out.
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AUDUSD 15m
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AUDUSD 1H
Possible ABE pattern. With a strong demand zone on the 15M
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15 minute timeframe. I will enter a short inside this zone with a tight stop loss and target the previous lowest close on the 4H swing
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Here is a DT set up with USDJPY on 4H with a strong supply zone inside on the 15m
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GBPUSD 60 Min Double Top. 1 Min Level 4 pip risk for 25 pip Target if spread settles down. Quick 6 to 1 Trade if price retraces high enough for entry. Will cancel if new 30/60 Min Lower lows are put in.
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The USDJPY Trade above has been cancelled.
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Looks good if the 60 min rallies straight up without producing an ABE Pattern downward trend line but if price drops strong then there is that 240 ABE pattern trend line to look for Longs or so it looks unless this is a larger trend line that has played out the ABE already. As I don't trade this I would suggest confirmation for both is the best bet.
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Here is the 4H. Looks better as more impulsive?
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Yes this looks ok but not as clean as I would like so i would play a confirmation trade on lower time frames like a 1 or 5 min double top. What does the 4 hr look like? if you could post a shot.
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Hi. This is a bit of a test to see if I am capable of sharing a screenshot yet. On top of that is it a valid DT set up? I chose a bitcoin chart as it is open for trading weekends. Its a 1 hour chart btw as I don't think the timeframe is visible.
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Just to start you off, here is a setup ready for Monday 8th of Feb. Its the USDJPY 240min/60min ABE setup with a 15min confirmation Limit order. It is also on my Facebook page but its a start. Now its your turn.
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This is the best way for you all to learn from each other & where I & fellow experienced traders can check your setups & constructively criticise your setups so both you & all can learn in one place. Oh and the more you post the quicker you rise through the ranks from Jnr Trader (10 posts) to Professional Trader (200 posts)
So don't be shy & get posting.