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-   -   How To Read Signals From A Chart (https://www.forexfactory.com/showthread.php?t=958607)

hibra68 Oct 29, 2019 8:52pm | Post# 21

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Is this SLKT, FOMO EVRT or the Daily NS+DB is winning.

LOL I'm confused..
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hibra68 Oct 29, 2019 10:23pm | Post# 22

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Looks like going up soon?
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olegchartist Oct 30, 2019 5:53am | Post# 23

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Looks like going up soon? {image}
Not so fast.

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1) We have serious resistance zone (red square) built from high-volume bars on 24/Oct
2) Also, we have SLKT above the minor high of 25/Oct
3) Also, we have down-ward trend line overhead

These 3 bearish factors make me a sceptic about possible development of up-move.

olegchartist Oct 30, 2019 6:00am | Post# 24

Is this SLKT, FOMO EVRT or the Daily NS+DB is winning. LOL I'm confused.. {image}
Please, mark signs on the chart and post it.

Let's avoid misunderstanding. If you are want to ask a question about Chart Reading signs related to a particular chart - prepare the chart accordingly before posting. Mark signs, use arrows and notes in order to clarify your question. Remove if possible unnecessary lines/indicators. The better question - the better answer. Thanks.

js497 Oct 30, 2019 6:24am | Post# 25

Oleg,
you written about volume above average, which period do you use for your average volume ?

olegchartist Oct 30, 2019 7:11am | Post# 26

Oleg, you written about volume above average, which period do you use for your average volume ?
Usually period = 100

js497 Oct 30, 2019 7:45am | Post# 27

{quote} Usually period = 100
Ok Oleg thank you
an important question here, i well readen your tutorial, regarding ND+SB or NS+DB, isnt there a way to entry without confirmation (DB or SB) ?
in my technic of accumulation almost of time when i wait confirmation the price is gone in the trend and profit is already almost taken or exhausted.
It tends to want entry without.

Too, my question relates the exit position, what about it from you ?

thx

olegchartist Oct 30, 2019 10:44am | Post# 28

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Is this a valid setup for possible short? This is 4 hour. but the daily shows a different story. {image}

Yes. It was ND. But it has appeared after signs of Hidden Strength.

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We have 1+2 = both EVRBs with 3 = DB.
Placing shorts with EVRB+EVRB+DB on the recent background is a risky business.

DonVito Oct 30, 2019 10:47am | Post# 29

Hi traders,

what does FOMO stand for?

Thanks.

olegchartist Oct 30, 2019 10:49am | Post# 30

{quote} Ok Oleg thank you an important question here, i well readen your tutorial, regarding ND+SB or NS+DB, isnt there a way to entry without confirmation (DB or SB) ? in my technic of accumulation almost of time when i wait confirmation the price is gone in the trend and profit is already almost taken or exhausted. It tends to want entry without. Too, my question relates the exit position, what about it from you ? thx

Actually, you should enter longs when you've detected DB after NS.
But you need to have bullish context = line of support, or signs of Hidden Strength on recent Background.

The same for selling. You should enter shorts when you've detected SB after ND.
But you need to have bearish context = line of resistance, or signs of Hidden Weakness on recent Background.

Exiting is a complex question. Briefly, try to escape from longs during FOMO or SLKT. Сover shorts during Panic and SLKB bars.

olegchartist Oct 30, 2019 10:51am | Post# 31

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Hi traders, what does FOMO stand for? Thanks.

FOMO = Fear Of Missing Out
This is effect of Euphoria, Buying Crowd Rush
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olegchartist Oct 30, 2019 11:30am | Post# 32

This is the daily, looks like a long setup. So what to do in this situation when 4 hr does not agree with Daily? {image}

Yes, this looks valid. You are Great!

the9thTrader Oct 30, 2019 6:17pm | Post# 33

Good content Oleg! I learnt a lot from this! Could you please make a PDF copy or if you already have one can I please have it?

GU-Night Oct 31, 2019 2:06am | Post# 34

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Good content Oleg! I learnt a lot from this! Could you please make a PDF copy or if you already have one can I please have it?
Try this one.
How To Read Signals From A Chart.pdf

olegchartist Oct 31, 2019 10:10am | Post# 35

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After yesterday’s Big FED-powered Pump (1), EURUSD produced weak morning.

We had:
2) SLKT above the previous minor high. If this green bar was a real strength, why did the next 4 bars closed lower? (It was SLKT Trap).
3) ND (green arrows) with SB (red arrows) sequences
4) EVRB. Some strength is coming as price approaches the level of 50% Fibo.

Despite we had an intraday decline, we should consider this market as bullish until the breakdown of 50% line = 1.11250

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olegchartist Oct 31, 2019 10:13am | Post# 36

{quote} Try this one. {image}
Thanks for making this PDF

Good content Oleg! I learnt a lot from this! Could you please make a PDF copy or if you already have one can I please have it?
If you need original file, feel free to ask a link on Google Document, write me PM.

NeilWagner Oct 31, 2019 12:25pm | Post# 37

{quote} FOMO = Fear Of Missing Out This is effect of Euphoria, Buying Crowd Rush {image}
In addition, the effect is so much physically powerful!

olegchartist Oct 31, 2019 1:15pm | Post# 38

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You can find 1, 2, 3 or even more pullbacks within any up-trend. Why does market produce pullbacks?

The very first answer is :
if price would trending in straight line direction - it will be too easy for people to recognize trends and making money by joining the trend. But markets are not designed to make money for people. It designed to mislead people and make them fools. This is the correct answer IMO. And the next chart is showing this principle in a very clear way.

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1) Up-trend
2) Here is pullback. This pullback is quite deep. It even penetrates...

3) .. the previous minor low. So, people decided - here is the first lower low. Market has changed its behavior. We need to short. And they do it as can be seen...

4) .. on this indicator. It mixes and shows data from broker houses. Green Line - Opened Longs. Red Line - Opened Shorts. As you can see, red line goes up. It means sellers established new positions. The number of buyers goes down. This is exactly what does market wants - remove buyers and attract sellers before the continuation of up-trend.

Pullbacks needed to complete this market's objective.

olegchartist Nov 1, 2019 1:32pm | Post# 39

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Innner market workings.

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Valid also for all markets - crypto, forex, stocks

1) We have an active down-trend in place.
2) A lot of traders have opened shorts. More than 75% of opened positions - are shorts. Let's assume - the downtrend is going to resume. But market is not designed to make money for people. That is market needs some trick to kick off sellers from profitable positions. How? By triggering their Stop-losses. And then...

3) ...SLKT - Stop-Loss Killing bar - arrives. This SLKT manipulation...

4) ...dramatically decrease the balance of Buyers and Sellers on market. The reason - ...

5) ... sellers are knocked out from their shorts. They could earn some profits, instead, they left the market without profits (as usual).

That is why we should expect decline on the up-coming next week.

Thanks for reading.

corinthia Nov 1, 2019 4:23pm | Post# 40

Thanks for the great information shared here.


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