You are correct 100%, which is why I don't trade the Tmatrue.ex. You are talking about those nasty Aggressive Type A Grinds which I will not trade.
I trade the Grind shape after it is developed. I don't look at the ADR but wait for the first pullback to identify which Grind type I am dealing with. Its all about the relationship of density between the current market orders being applied to the market and the density of passive limit orders currently sitting on the market.
So trade only after Grind type has been established.
Aggressive Grind A - No trade
Aggresive Grind B - Trade only Exhaustion after a Target has been hit.
Passive Grind A - 1. Target 2. TMA
Passive Grind B - 1. Target 2. Any Lower low or Higher high plus 5-10 pips
ADR is IRRELEVANT to achieving great profitability, Understanding the Grind Type is the most over riding factor in achieving good profitability for M1 Reversal traders.
In my opinion which may or may not be worth much to some traders.
Yes, but trading this plan last week, we would have Three Losses and only Two winners.
That's not smart in my books.
If it was that easy, we would all be rich.
Dam shame trading isn't that easy.
Rick, I want to clarify, I got confused in the letters, where you have E, Francesco D. I wanted to find out what kind of extension you had in mind .. When the price repeatedly returned to 14 TMA George or within your Target, where the yellow line crosses purple (target), your last trades? In a word, the extension between two red dots or between blue and red?
At the moment I'm still studying these conformations because I often see them but I'm still not sure of myself to be able to trade them.
B-C I didn't consider them because the thrust was not the ideal one.
If you look closely, the candles retrace and fill the gaps.
Last thing as George said we were facing a Grind day and especially on these days it is better to take only the trades with greater success %.
I am very happy that George is able to dedicate time to us again and for this I thank him!
I can't wait to read some of his posts!
Thank you George.
Just a quick comment...
Thanks to all traders for taking the time to post comments, charts etc. Some great work over the last few days.
Special mention to George who I have it under very good authority will once again be posting here, and abroad on his own thread, to pertinent questions that he feels require an explanation or just a damn good rollicking!!!.
In joint command is Rick who offers a different but nonetheless awesome take on trading reversals. There is enough info already on this thread to seriously improve the success rate to any trader who takes the time, is open minded and ready to dump the doctrine written elsewhere.
If either of these two traders place a post, take notice!
I wish I had this thread over 10 years ago.. would have saved a great deal of time..
To the other traders that I have not mentioned but are posting...keep doing so, it opens up debate and adds serious value to the thread.
I got confused as well, E should have been D. Chart now amended.
Price limiting by the Algo occurs any where on a chart and has nothing to do with ADR. So both Red dots was the zone for the Algo to pull back price.
It often matches the "14" band on GBPJPY so its the WIDTH of movement, not the length of movement.
Thank you Rick!!!
I'm new to George's Thread. I'd read a few initial posts from George. On that basis, I just tried to found some Herd Support/Resistance Mentality Validation zones as are shown in the following chart.
As, I observed that this thread is also related to George's work. So, I put it there as a homework. Anyone can feel free to comment on it. I just want to learn more and more.
I posted it there as I was unable to post in George's Thread.
I hope it will not pollute your thread.
AND TO ANYONE WHO IS INTERESTED IN FINDING OUT THE REALITY OF THIS GAME ! ! ! !
I want to bring to your attention and to anyone who is interested in learning something about the REALITY ,,,
You mentioned about those who trade ELLIOT WAVES ,,,
1 ,,, Are you or anyone searching to trade some kind of guessing approach ,,, OR ,,
2 ,,, Are you interested in the REALITY ON WHICH THIS GAME IS CONSTRUCTED UPON ????
IF ,, you answer is the 2nd part ,,, then ,,,
I SUGGEST TO YOURSELF AND EVERYONE TO NOT IGNORE THE VERY POINT YOU TALKED ABOUT AS A PASSING COMMENT ,,, highlighted in red in the quote above
IT MAY SERVE YOU AND EVERYONE WITH AN EXTREMELY POSITIVE SHOCKING WAKE UP CALL ! ! !
JUST A SUGGESTION ,,,,
JUST A SUGGESTION ! ! !
And just for the record ,,,
Friday being a grinding day ,, which did not have many swings ,,,
The bottom could be detected pretty accurately if one applies the proper extensions ,,,,
Which are NOT based just on Fridays action ,,,
Something that requires very deep study into fib work ,, which I can NOT explain here and publicly ,,,
Also to reply only on Fridays price action ,, then ,,
THE LOW WAS ESTABLISHED BY A MATHEMATICAL APPLICATION ,, and NOT BY SWINGS ,,,
Again ,, something I will NOT talk about publicly ,, BUT ,, Andy experienced this phenomenon first hand with me on charts ,,,
It often is the case with directional price action days ,,,
It gave me a target of 132.029 ,, The actual low was 132.043 .
PLEASE ,, KEEP YOUR FOCUS ON THE TARGETS ,,,MORE THAN FIB LEVELS ,,, AND THE TMA'S ..
I saw this post of yours and I'd have to say that you DID gave us a clue on that one too
Too generous of you
Please allow me to share your posts and charts here from the other thread
Thank u for those charts ,,,
Is it not amazing how orderly this game is ????
As Andy always said ,,,
The theories we apply have NOT changed since day ONE ! ! !
Also in continuation to a post from yesterday about the signals on the charts showing us ,,,,
WHICH DIRECTION THE NEXT MOVE WILL BE ,,
Here is another perfect setup this morning on the GJ ,,,
TEXT BOOK ACTION ! ! !
I really do NOT want to get too involved in multiple replies ,,
BUT ,, just wanted to highlight something here quickly for you ,,
You need more PRECISION in your work IF i may mention ,,,
You are missing the full swings ,,,
Close enough is not good enough with ur drawings ,,,
Also , It is NOT about the means and continuations ,,,
It is all about the ROADMAP this market is constructed to ,,,
There are times when we need to use inverted fibs ,, and times when we need to use forward fibs ,,,
In the example u gave here ,, it should be the FORWARD fib ,, and NOT the inverted ,, cause it is apart of a particular action of the low of the previous day ,,,
I shall leave it at that for now ,,,
you also mentioned Fib, I applied Fib lines and really saw 123.6% there .. if this is not a coincidence, then let it be a confirmation.
Thanks again for your time!
I dont know where u got that 123 from ,,
This is MY FINAL COMMENT TO EVERYONE ,,,
IF ANY TRADER WANTS PRECISION DAY IN DAY OUT ,,,,
LOOKS AT THIS CHART AND IGNORES THE REALITY IT IS TELLING US ,,,,
GOOD LUCK TO THEM WITH THEIR JOURNEY ,,,
I PERSONALLY GIVE UP ON THEM ! ! !
Yes I have come up with some great things ,, and they are still great ,,, BUT ,,
What I am using now is the ULTIMATE FINDING ! ! !
Todays GJ action tells the story ,,,,
Called the run up ,, and called the run down so far ,,,
Good luck to everyone with their journey ,,
Hello everyone..Can anyone actually learn this?a newbie like me does even has a chance?
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