brettschoenfelder

brettschoenfelder Updated  Feb 7, 2017

W Price recently reacting off the daily/Weekly Demand Zone D Price reacted bullishly off daily zone. Overall trend is ranging. 480 Found entry and stop off the 480 zone. Looks like clean structure. Not a crazy move away from this area, but over 3.5:1. TP 3:1

brettschoenfelder Updated  Feb 5, 2017

I forgot to post this set-up before the trade triggered. As it ended up, this set up did not work. My number 1 takeaway was that I had a very similar trade set up on the GBPCHF and should have only taken one of the other due to the inverse relationship of the pairs.

brettschoenfelder Updated  Feb 5, 2017

Buy #1 was a success. Next up Buy #2..... W Currently trading within the Weekly Zone, which had a good bit of buying reaction off already. The assumption is that more smart money will want to buy at these low price levels... D Price is trading sideways, Therefore we will buy below this trading range in Buy Zone 2 240 Buy Zone 2 /Demand zone was the origin of...

brettschoenfelder Updated  Feb 5, 2017

W Weekly is still in control and new Weekly Supply is potentially forming... D Continued uptrend. Look to re-engage this trend 240 Demand formed within a potential Daily/Weekly Nested zone. TP 3:1 R:R

brettschoenfelder Updated  Feb 5, 2017

Starting off I noted two levels I was previously watching, but failed to pull the trigger. -Red x was an area I drew up, but wasn't satisfied with the probability. -Green check was another area I drew up and marked as I liked it better than the other *** Note to self: Be confident in your ability to find quality levels. I am growing more and more confident...

brettschoenfelder Feb 2, 2017

W New Weekly potentially forming. Fresh Supply no where in sight. Old Supply very well traded through. D Trend is still up with Demand zones being respected 240 Zone formed just above potential weekly structure. Would be the origin of the strong move away. TP 3:1

brettschoenfelder Updated  Feb 2, 2017

W Price is within a weekly level D Uptrend forming. Lower lows but would still love to see a higher high put in. 240 RBR DZ. Move away is currently OK at ~3.5:1, Would be better to see more of a move, but this provides evidence of strong imbalance. TP 3:1

brettschoenfelder Updated  Feb 1, 2017

W Downtrend. Weekly Supply formed overhead. Lots of room to run to Weekly Demand. D Downtrend. Price hanging out in the tested Daily Demand area (which was a reaction to a Daily level to the left). Don't expect level to hold. 240/480 You can see a little SZ which I didn't catch, that would have presented a nice sell opportunity. Next opportunity is above and is...

brettschoenfelder Updated  Feb 1, 2017

W Weekly supply is in control. Weekly Demand not being respected. D Trending downward in a Channel formation. New Daily Supply forming. Room to run to nearest Daily Demand zone 240 Supply zone is a little close to the nearest Demand, but I'm estimating that the formation will be respected. TP 3:1 goal. Profit taking strategy to take half off at 1:1, then run...

brettschoenfelder Updated  Jan 31, 2017

As Expected the Daily Demand Zone did not hold. New 240 Supply was created, and offers another opportunity to get short all other analysis still holds true. see linked idea

brettschoenfelder Updated  Jan 31, 2017

W Approaching weekly zone, which has strong move away. Indicating that there are lots of buyers interested at these low prices D Trend is down, but approaching Daily Demand Zone. 240 The initial zone initiated a strong move away and is nested within a daily level (just above a weekly level too) TP 3:1

brettschoenfelder Updated  Jan 31, 2017

I'm estimating that 100 will hold briefly, then fall. But remember...Anything can happen.

brettschoenfelder Jan 30, 2017

W Weekly Demand in control. Previously Weekly Supply Zone was not respected. Approaching area which contained Weekly Supply, but is heavily traded through and no fresh Supply for quite some time. D Trend has been up for some time and is currently stalling out sideways. Will look to re-engage the upward trend. 240 Using a RBR Demand zone just at/above the Daily...

brettschoenfelder Updated  Jan 27, 2017

Price Action is entering an area which caused a large move away in the higher time frames. I've zoomed in and found a promising opportunity to sell. If time/schedule permits I'll watch for an opportunity to trail stop.

brettschoenfelder Jan 26, 2017

Daily Supply Zone on top of zone. Price reacted nicely off the lower zone. Estimating that a little reaction will occur off the higher zone above marked "Sell Zone"

brettschoenfelder Jan 26, 2017

In the words of the late great Admiral Ackbar "It's a trap!" I originally dismissed this level due to the fact that trading is rangebound and this zone is neither at the top nor the bottom. (I linked to that set up). But since then some strong resistance has been formed and respected. And just above that resistance is a little level within a Daily supply, which...

brettschoenfelder Jan 24, 2017

For now, I am targeting a 4:1 R:R, but depending on what the chart gives me as price is getting closer to the level (which could be a while...or never) I may adjust to increase profit zone. Given the fact the initial zone began a large descent in price and formed a daily level makes this set-up high probability with potential to run.

brettschoenfelder Jan 23, 2017

Initial Move Away does not meet 5:1+ rule, but given the bull trap set up and the fact that price did move a good distance away from this area makes this a high probability set-up.