Where price is now, it has been before, and will be again.
- | Membership Revoked | Joined Apr 2014 | 169 Posts
There has never been a statue erected in honor of a critic
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DislikedHello gspajon Excellent thread and exactly what trading is all about.I too spent about 6yrs trying out all sorts of bells and whistles and in the end have come back to PA. I use Ichimoku to give me trend and dynamic s&r but apart from that its pure PA. Well done.Ignored
Disliked...Does the obvious bullish trend & subsequent momentum on the chart below entice anyone here to possibly entertain the idea of a continuation trade to the upside? ... I'm more interested in the interpretation of the price action...Ignored
Disliked...But I wanted to highlight the pattern in place on the impulse move up. The 1st 2 circles show full bullish candles with daily closes at the highs followed by retraces & continuation. In the last circle the pattern is broken. Long wicks & tails might show a different story. I see early signs of exhaustion but the very last thing I want to do as a trader is try to pick tops & bottoms. Aside from poor money management it's one of the biggest mistakes a retail trader can make. {image}Ignored
DislikedRecently someone wrote me a private message asking for my definition of an "exhaustion" candle. As this person did not wish to have his views public (for obvious reasons) I thought I would answer here. It is a legitimate question as I have mentioned it in my trades a couple of times. First off let me say, as far as I know there is no generally accepted "definition" of an exhaustion candle. for me it is more a concept than a specific pattern that requires definition or criteria. I'll explain it to you this way: As we all know price movement is the...Ignored
DislikedHello, this is walter peters school or I am wrong? I love it, no indicators just naked tradingIgnored
DislikedI am seeing good old-fashioned accumulation on the AUD/USD. Prolonged bullish rejection of the crucial(historic) 0.8755 level and an extremely attractive swap rate to the long side (well over $5 with most brokers). Anyone else see the same?Ignored
Disliked{quote} You may be right about accumulation...there is a very suspicious range forming (as I would expect) near a crucial and historic low...a perfect example of "Time Compression" as mentioned by Jason Alan Jankowski in his book Time Compression Trading. However I'm not seeing anything I would take action on...For me...nothing to do but wait...if this does reverse it will create a higher high as seen on this chart. Then retrace and I'll jump on it at the next higher low...assuming my criteria are met. {image}Ignored
Dislikedpending buy,love this way of tradingengulfing bar after shown strength from pin,beautyIgnored
Disliked{quote} Again I am the bearer of bad news. This is not a trend...Higher high...lower low...so I wouldn't be trading it. However it is an engulfing bar. would try to wait on this pair for a lower high to form then a signal for a short.Ignored
Disliked{quote} although I take on board your analysis I will bet my chicken dinner that it will do as its told!!!Ignored