FX:USDCHF   U.S. Dollar/Swiss Franc
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Price coming to resist. My charts are very basic focusing on the level price just left with stop under that level - targeting the opposite above. Very simple charts. I look for entry at start of stop or within the level. Unfortunately this was a 5 min chart that had to go up a TF to meet TV standards. I am not trading this set up, just following the trade. Nothing fancy just my trade journal.
okj
9 months ago
Good ideas
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Marvin
9 months ago
Thanks for the explanation, which I think you may have given due to a question of mine. And thanks for the follow, although I'm not posting many new ideas lately as I'm trying a few things out. Good luck to you.
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123cowd
8 months ago
Hi where do you learn your info from please simple is good. thanks jack
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KeiraK
7 months ago
its been awhile since my last post. Many have asked how I derive my price set ups. I will explain on my last post here. I will start to post my price setups again on the Supply and demand chat here, So explanation - Im going to use CadChf.
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KeiraK
7 months ago
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Ill start with the large TF and work down - it does not matter what TF you use this price set up plays out the same. The circled candles are large but they also engulf the last candle.
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KeiraK
7 months ago
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As you can see at the point where the previous candle was engulfed was also the first place price tested
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KeiraK
7 months ago
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KeiraK
7 months ago
The second candle that engulfed was fairly dramatic - many hits on the bottom of this area - and one thing you can take away is this area is a place where price has failed to get above
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KeiraK
7 months ago
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The third engulfed candle price did not reach and I will explain
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KeiraK
7 months ago
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The lowest point where price swings is a point of interest and cannot be ignored
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KeiraK
7 months ago
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i going to a lower time frame.
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KeiraK
7 months ago
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this is a weekly view. Next chart Im going to remove some of the purple area and narrow down this area and repeat the same process as on the monthly
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KeiraK
7 months ago
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again we have the engulfer candle - Im going to change the purple area in next frame to reflect where the previous candle was engulfed
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KeiraK
7 months ago
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This is the first engulfer and we can see price was attracted to the area but could not get past it
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KeiraK
7 months ago
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this is the second level or second engulfer level
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KeiraK
7 months ago
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The last engulfer was met with an engulfer on the other side that changed direction and this is the area I want to look at as a day trader - you need to know where your levels lie which we have done up to a weekly and what candle set up is going to favor a long set up or a short set up
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KeiraK
7 months ago
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daily frame - Im going to remove the lower areas in blue and replace them with our new levels
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KeiraK
7 months ago
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Im going to put this down into a working time frame - the stops you see here are good but they are too large to trade so we need to go to a 4hr 2hr 1hr to find the price set ups
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KeiraK
7 months ago
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Im going to remove some of those red areas and replace them with our 4 hr view - I think you are getting the pic on engulfers I should not need to circle them at this point. - What you do need to know is price is in our second engulfer level from the weekly - not only in it but very high in it and this is a consideration price was not turned away so lets clean this chart and put up a price set up
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KeiraK
7 months ago
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We have four areas with four engulfers. First off there is no bearish engulfer so Im not interested in a short. Those four engulfers have one other thing in common -
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KeiraK
7 months ago
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Price does not cross below your engulfers on a long or above on a short
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KeiraK
7 months ago
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Now this is how I would read this price action - does not mean this is how price action will go - but it gives you an advantage in having the ability to interpret price action
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KeiraK
7 months ago
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Follow up - price made it to the zone. We know the bottom of that zone is the engulfer where we expect price to be held. Above on the hourly we have an engulfer that formed supply. Risk continues to be the zone price is trying to leave. Price will need to break the 1hr supply to continue to move up
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