DK. You didn't draw them as I would.
Hendzwoter, I have no idea what your last post means.
Hendzwoter, I have no idea what your last post means.
ReadtheMarket - Supply and Demand with Price Action
Must be comedians..... i hope, otherwise I'm completely bewildered aswell!
- #3,326
- Jun 27, 2017 11:00pm Jun 27, 2017 11:00pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
IF,
very thankful to your comments, I am.
so would you define this is a failed PA or not a PA? you don't have to explain, a simple yes or no is beyond sufficient to my confused mind. I'm really keen to learn your definition of this case. thanks in advance.
very thankful to your comments, I am.
so would you define this is a failed PA or not a PA? you don't have to explain, a simple yes or no is beyond sufficient to my confused mind. I'm really keen to learn your definition of this case. thanks in advance.
{quote} M1 or M5 levels broke without following through as they should have. One of our greatest learning tools is to find in history examples of what looks like PA which failed. Studying them turns unknown phenomena into knowledge of another IT play.
- #3,329
- Jun 28, 2017 6:35am Jun 28, 2017 6:35am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
It's kind of true that you won't be told the answers here.
That's simply because all the questions have already been answered, either here or in RTM
I'd love to read some original questions though
That's simply because all the questions have already been answered, either here or in RTM
I'd love to read some original questions though
It's kind of true that you won't be told the answers here. That's simply because all the questions have already been answered, either here or in RTM
What about scales? Cannot seem to find a clear answer anywhere (hopefully I haven't missed out where it has been explained).
How do we know which scale to look for?
Hello EVERYONE & Master IF,
First time poster. I have been reading this thread diligently, and I really appreciate the generosity of the author (IF) to share his knowledge/insight on this topic. Attached is the current 5 min chart on AUDUSD.
Perhaps it's due to my inexperience, I am seeing levels (zones) almost everywhere. I did try to trade the price action after the creation of zone (A) on the above picture. As price fell from (A) and hit the grey color 'support' the first time, I went long and with target price just below box (A), and this turned out to be a winner.
As price returned to (A) the first time, I shorted it back to the 'support', and it's the second winner.
Then I see that the 'support' was eventually engulfed. I placed my buy limit order at the FTR (purple box) but price smashed straight through! Is there a reason why this FTR couldn't hold?
Since the 'support' has been engulfed, I see price returning to it and I thought there is a high probability that this 'support' will turn into resistance. So I shorted there, but it could not hold (any explanation why), I really thought that this was a good structure for a short.
So I had 2 winners and 2 losers, I can't find any other good level to trade at the moment, boxes (A), (B), (C) are not fresh so I wouldn't want to trade them.
Any input/feedback is greatly appreciated.
First time poster. I have been reading this thread diligently, and I really appreciate the generosity of the author (IF) to share his knowledge/insight on this topic. Attached is the current 5 min chart on AUDUSD.
Perhaps it's due to my inexperience, I am seeing levels (zones) almost everywhere. I did try to trade the price action after the creation of zone (A) on the above picture. As price fell from (A) and hit the grey color 'support' the first time, I went long and with target price just below box (A), and this turned out to be a winner.
As price returned to (A) the first time, I shorted it back to the 'support', and it's the second winner.
Then I see that the 'support' was eventually engulfed. I placed my buy limit order at the FTR (purple box) but price smashed straight through! Is there a reason why this FTR couldn't hold?
Since the 'support' has been engulfed, I see price returning to it and I thought there is a high probability that this 'support' will turn into resistance. So I shorted there, but it could not hold (any explanation why), I really thought that this was a good structure for a short.
So I had 2 winners and 2 losers, I can't find any other good level to trade at the moment, boxes (A), (B), (C) are not fresh so I wouldn't want to trade them.
Any input/feedback is greatly appreciated.
- #3,334
- Jun 29, 2017 7:55am Jun 29, 2017 7:55am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Your marking looks like you've come a long way, so very well done you!
However, expecting S/D and S/R levels to hold, just because they're there, still leaves you in the herd. The sooner you get out of the herd, the better it will be for you!
To get out of the herd, you must understand the IT's playbook, and how what you think you know is used against you.
It's impossible for me to know whether all that is in here (as I never reread anything but the 250- 300 books I love and read on a loop!) but I'm sure it's all at least been alluded to. What's not here is in RTM though.
From your chart, it seems to me that you're truly on the right track, and should be able to work it all out from this thread, with a lot of help from your own intuition
However, expecting S/D and S/R levels to hold, just because they're there, still leaves you in the herd. The sooner you get out of the herd, the better it will be for you!
To get out of the herd, you must understand the IT's playbook, and how what you think you know is used against you.
It's impossible for me to know whether all that is in here (as I never reread anything but the 250- 300 books I love and read on a loop!) but I'm sure it's all at least been alluded to. What's not here is in RTM though.
From your chart, it seems to me that you're truly on the right track, and should be able to work it all out from this thread, with a lot of help from your own intuition
- #3,336
- Jun 30, 2017 10:02am Jun 30, 2017 10:02am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Does anyone have a read on DOW 1h by any chance? Pls tell me I at least did something right herehttp://icecream.me/uploads/da5cf5f285c509909e5ab4826b748574.png {image}
Thanks IF and Tradersam. I understand.. Or at least I think I do 
For it to be an engulf on this scale, it would of course need to take out, what ever held price up at the swing low, just before the final top.
Which leads me to another problem. Finding what exactly is holding the price up. If you go look at the 1 min, one (I) could argue for several possibilities due to overlapping swings/FTR's. That's a very confusing thing to me, which often makes my head spin.
Are there any simple guidelines to avoid this confusion? Should I just take the larger 5 min swing as FL and avoid all those internal 1 min swings in a case like this? Nah..?
https://www.tradingview.com/x/NzrpTykb/
For it to be an engulf on this scale, it would of course need to take out, what ever held price up at the swing low, just before the final top.Which leads me to another problem. Finding what exactly is holding the price up. If you go look at the 1 min, one (I) could argue for several possibilities due to overlapping swings/FTR's. That's a very confusing thing to me, which often makes my head spin.
Are there any simple guidelines to avoid this confusion? Should I just take the larger 5 min swing as FL and avoid all those internal 1 min swings in a case like this? Nah..?
https://www.tradingview.com/x/NzrpTykb/
