Trapped Longs Intraday GBPUSD Short

Viewing 1 reply thread
  • Author
    Posts
    • #47126
      MatDerKater
      Participant

      Trapped longs in the market….and also aggressive shorts trailing a reasonable NT SL behind price.

      Trade is a Rinse of that level, and a confirmation of reversal W (which will fail), coinciding with swing 61.8% from the pivot that tested the vol gap created by todays Manufacturing US econs release that was used as pretext for Rinse out of Swing Longs.

      A bit late in the day to be taking intraday……and if filled before US close, may have to retreat SL depending on broker spreads…(mine goes around 10 pips for Majors).

    • #47138
      Christopher Miranda
      Participant

      The short to the MTS is a decent one, though the entry is late, you could see pullbacks before price goes down. Like you mentioned, keep an eye on DM flow.
      Thanks for the crosshair program, very helpful.

      Also, please just consolidate your thoughts into one thread about your trades/analysis/etc. Rather than making new threads for each idea, as there will be alot of ideas lol, MK gives a shit ton of opportunities. Thank you

      • #47139
        MatDerKater
        Participant

        Could do a deeper retrace, anything can happen.

        But if it does move into the Volume Gap, then it lets all them Long’s off the hook, with small profits and/or opportunities to exit at scratch……with that said, I would much prefer it if this setup at 11am, instead of 11pm.

        • #47142
          Christopher Miranda
          Participant

          Even if it moves up that far, I don’t worry about DM leaving the market unless the current histogram PB’s/NetDM decreases dramatically. They much more often tend to actually increase their positions, instead of breaking even or at minimal loss. Don’t stress about the opportunity, its only monday lol.

        • #47143
          MatDerKater
          Participant

          I imagine a month or two down the line with MK-Indicator, I just wouldn’t bother with such a trade, but I am giving myself a crash course in order to get familiar with the nuances of how the market plays with the DM. Small chips training trade.

          Taking a larger swing Long, which has now been split into two entries, with entries being on large MTS and again on MTS+NTS…..I anticipate most of the Longs will be OUT when/if price hits those levels, clearing the way for the market to resume inflicting pain on the shorts….with of course, reassessing the situation along the way.

Viewing 1 reply thread
  • You must be logged in to reply to this topic.
Skip to toolbar