Beyond the Candles

Mastercard-MA

Let's see one of the most important lesson on this thread..information on W with PA confirmation on D





If you find something unclear just put a chart and let's talk about it !

Excellent! So, when did you enter? Long - after the 'close above the level', or short after the 'doji week' in gen '20?

Hello my friend....when the P on higher TF closes above , it gives us a strong bullish information so afterwards I will look for bullish confirmations on D chart...in this case we have the BUOB on 12.19.2019 AS the first one and BUEB on 01.06.2020.

PTT&TTP....EURGBP W chart

BUEB ... I believe you mean BEOB! .. ?

Did you take a trade on this pair. I could not find a good entry to short.

Cheers and Stay safe

BUEB= Bullish Engulfing Bar

Once the P closes above a certain level on higher time frames, I will wait only for bullish PA candles and viceversa, when the P closes below a level I will wait for bearish PA.

Hi 198

As I said PTT&TTP and this means I have a plan of my trade and I will trade the plan as soon as the market will offers me the right opportunity. The last candle closed a a 2W bearish PB so from now on I will wait for D RET in order to short this pair till the RM's S.

Let me know if is all clear, if not put a chart and let's talk about it !

Ok, time for me to brush up on the terminology! How many titles do you analyze every day / session?

Noted. In that case we should be looking for a retrace and sell signal on a daily TF. I have identified the zone form where we should look for a short signal.


cheers

When you see a big doji within a triangle, this is a information of big fight betwen buyers and sellers , especially when the doji covers all the triangle.
Closer to the triangle's apex= bigger the fight= higher the volatility. I don't say it's impossible to trade it but the MM have to be adapted to market conditions.

.

Welcome back, fxgroup. Bentornato!

I would like to discuss about 2 fx pairs. The first one is USDPLN, while the second one is GBPUSD.



Can we interpret the BUOB as an exhaustion candle, since it goes from median level to the resistance? Furthermore, has the range market been draw correctly?

I was thinking about waiting for the D confirmation on the resistance level, then go short until the level 4.07675.




Regarding, instead, GBPUSD, i've got a question:



As we can see, On M timeframe we have got 2 NCB informations: the price doesn't close below the dynamic support (trendline) and doesn't close below the static support of the range market.

My trading plan was to wait for the D confirmation on the support level of the range market:



Now, my question is: what should we do if we will see a good price action candle on the Daily timeframe, but the candle is NOT on the support level but anywhere else between the support and our target? Should we consider the candle as a confirmation for a trade?

Grazie della tua infinita gentilezza e pazienza e per tutti i tuoi insegnamenti.
David

Hello David

First of all I would like to thank you for your words, I appreciate !

You have good established trading concept and good eye to read the charts.

USDPLN
As you noticed, the P is within the M RM and the last candle is an exhaustion one what covers all the space betwen the LM and the RM'R but NCA...but...and here is a " but "....when the candles leave such a long tail into the trend direction almost every times the next candles retest the highest limit of the tail.
In these cases the safiest way to trade is waiting for W information , otherwise if you have a strong bearish PA at the R level just assure that is according to your MM requirements.

GBPUSD
Nice charts and really like the simplicity....you make your plan ( trading to a certain level ) ....you MUST trade only your plan because it is the only one you understand and know how to manage. If the P doesn't respect your plan just sit on your hands, it will save more money and white hair !

Dearest fxgroup,
thank you for your reply.

It seems you were right about USDPLN: we had not a strong bearish confirmation on the R, and it looks like the price is going to retest the top of the exhaustion candle as you said. When i read what you write or i hear what you say in the webinars, i always think that i've got still much to learn.

Can you remember my trading plan about EURSGD? It looks like the price found support on the important 1.55 level with a bullish pinbar. But i will not go long on Monday, because of these 2 reasons:
1. The last bearish candle has a really strong momentum, while the pinbar looks small and tiny in comparison to the last candle;
2. The pinbar shows that there's still the presence of the sellers and i think that probably the price will go to take further liquidity to the W RM. I'll wait for a clearer confirmation next week.

Monthly:



Weekly:



Daily:



What do you think about my reasonings? I would like to know your opinion.
I wish you and your family an happy and relaxing weekend.
David

EURSGD

The P found S on the D triangle, but I expect for the P to close below it, heading to the W dynamic S of the W triangle.

Hello FXgroup,
I want to thank you for this wonderful post. I have been browsing forums for years and it is enlightenment! I have been reading your posts for a few weeks and I have learned more than in 10 years! I still have a lot to learn especially your abbreviations but I will get there thanks to you.
Another big thank you and continue like this.
In addition I love Italy ...
TO ALL
Take care of yourself and your families.

Welcome Gain

Thanks for your kind words...just get involved, put some charts and let's talk about it...ask, practice...ask,practice and ask again !

TWIN-trade video

Thanks for sharing!

Stay close and you will see more !