THIS IS A DIGEST OF ALL THINGS I THINK IS MORE IMPORTANT IN THIS THREAD/JOURNAL.
I do not know how to do this. Whenever I analyse a chart I think that time is missing from my analysis but also I do not know how to take time into consideration.
All of this can be calculated using an Excel sheet? This is a lot of data.
"How much pips average direction is providing?
Aim for TP on average, set stop loss on Max"
I'm also trying to find an average direction price might move.
Coming down to support = taking more demand before going up. So a strong USD = USDJPY up or buy
But before a strong move it is likely to test supports to gather more demand.
How to decide the size of a move, without using volume?
How does co-relation really work?
It works great.
To try this you may follow the below setup
A. USD pairs
B. Jpy pairs
C. GBP pairs
Multiple time frames set up h4, h1, m15
3 instruments * 3 time frames assuming you are using mt4 or mt5
Total 9 views
Apply 5, 20, 50, 100, 200 SMMAs for price action direction, tp and sl adjust as per ma or use trailing stop
Use GBP USD and USD jpy direction for indication and gbpjpy for trading or trade all depends confirmation coming from all
So Gbpusd down, usdjpy up buy on gbpjpy and vice versa
we can only wait and watch the PA on the chart.
Theoretically.
If the reversal happened at the top then how the price reaction at the previous time should be same as the current PA.
"Shifting origin method"
If price inside the rectangle repeated price action in the wick of the long body candle then when price entered the wick price range should not be considered because price was already in a short term downtrend.
UJ price range is narrowing.
It is not a number or line, rather a zone, the same kind of blue rectangle you are drawaing on price retracements and consolidation zones, same draw on monthly, weekly, daily,H4, H1
A trading method could be buying at the candle next to clusters of candlesticks with reasonable size of wicks. If the next candle is an only bid/offer candle. If it is before bid only candle then sell, and if before offer only then buy.
Correct price anticipation but this big body was unexpected
How to spot the beginning of a rally?
Find candles with wick followed by a "only bid/offer candle" and start reading the chart
Need understanding on the difference between retrace and consolidation.
candles with wicks are found at the beginning or end of a move/rally if followed by a long body candle or pure bid/offer candle <-- will test this theory now
What is structure?
But you are right, I have only a vague idea of what I'm doing. Need to look for the "why".
Because sometimes retracement moves so fast that we can't see the structure, only the direction.
how do you know it is a retracement and not a reversal?
The start point of the uptrend wasn't touched.
Need to find a way to find size of moves.
I'm trying to find the beginning and end of a move.
(engulfing) + (long wick candles) + (only bids/offers) + (end of HH HL or LH LL)= end/beginning of a move.
^^ trying
How do I predict end of a HH HL/LH LL?
If you cannot predict the end of HH HL/LH LL but a referring a new HH or LH will solve the question.
I'm forgetting the why too frequently. Need to write more about charts.
Okay. Mostly different pairs of currency show better patterns/signals on different time frames.
having problem while reading candle with wicks. Need more clarity.
How to discover the "What to look for before entering a trade?".
Limited analysis not good for entering a position. More detailed chart coming soon.
Need to find reference candle.
What does it mean when a opposite side candle enters a rally? example - black candle in a bull rally and white candle in a bear rally
Wicks mean market is still searching for a direction aka uncertainty.
So, if a only bids/offers candle is found after a series of candles with wick then this process has some significance.
Engulfing means market has found a direction, I guess. But what happens if engulfing is met with another engulfing?
What is the significance of a long regular body candle here?
If observation is correct then market will act according to the analyses.
If market was moving up before "candles with wicks" formed then an assumption can be made that market is looking to reverse/consolidate. So, some movement from market to validate this should happen.
Spread widening, or some ppl call stop hunting.
There's a big difference of price/move in a particular bar/candle but there's less volume, more or less according to Bill Williams.
I do not know how to do this. Whenever I analyse a chart I think that time is missing from my analysis but also I do not know how to take time into consideration.
All of this can be calculated using an Excel sheet? This is a lot of data.
"How much pips average direction is providing?
Aim for TP on average, set stop loss on Max"
I'm also trying to find an average direction price might move.
Coming down to support = taking more demand before going up. So a strong USD = USDJPY up or buy
But before a strong move it is likely to test supports to gather more demand.
How to decide the size of a move, without using volume?
How does co-relation really work?
It works great.
To try this you may follow the below setup
A. USD pairs
B. Jpy pairs
C. GBP pairs
Multiple time frames set up h4, h1, m15
3 instruments * 3 time frames assuming you are using mt4 or mt5
Total 9 views
Apply 5, 20, 50, 100, 200 SMMAs for price action direction, tp and sl adjust as per ma or use trailing stop
Use GBP USD and USD jpy direction for indication and gbpjpy for trading or trade all depends confirmation coming from all
So Gbpusd down, usdjpy up buy on gbpjpy and vice versa
we can only wait and watch the PA on the chart.
Theoretically.
If the reversal happened at the top then how the price reaction at the previous time should be same as the current PA.
"Shifting origin method"
If price inside the rectangle repeated price action in the wick of the long body candle then when price entered the wick price range should not be considered because price was already in a short term downtrend.
UJ price range is narrowing.
It is not a number or line, rather a zone, the same kind of blue rectangle you are drawaing on price retracements and consolidation zones, same draw on monthly, weekly, daily,H4, H1
A trading method could be buying at the candle next to clusters of candlesticks with reasonable size of wicks. If the next candle is an only bid/offer candle. If it is before bid only candle then sell, and if before offer only then buy.
Correct price anticipation but this big body was unexpected
How to spot the beginning of a rally?
Find candles with wick followed by a "only bid/offer candle" and start reading the chart
Need understanding on the difference between retrace and consolidation.
candles with wicks are found at the beginning or end of a move/rally if followed by a long body candle or pure bid/offer candle <-- will test this theory now
What is structure?
But you are right, I have only a vague idea of what I'm doing. Need to look for the "why".
Because sometimes retracement moves so fast that we can't see the structure, only the direction.
how do you know it is a retracement and not a reversal?
The start point of the uptrend wasn't touched.
Need to find a way to find size of moves.
I'm trying to find the beginning and end of a move.
(engulfing) + (long wick candles) + (only bids/offers) + (end of HH HL or LH LL)= end/beginning of a move.
^^ trying
How do I predict end of a HH HL/LH LL?
If you cannot predict the end of HH HL/LH LL but a referring a new HH or LH will solve the question.
I'm forgetting the why too frequently. Need to write more about charts.
Okay. Mostly different pairs of currency show better patterns/signals on different time frames.
having problem while reading candle with wicks. Need more clarity.
How to discover the "What to look for before entering a trade?".
Limited analysis not good for entering a position. More detailed chart coming soon.
Need to find reference candle.
What does it mean when a opposite side candle enters a rally? example - black candle in a bull rally and white candle in a bear rally
Wicks mean market is still searching for a direction aka uncertainty.
So, if a only bids/offers candle is found after a series of candles with wick then this process has some significance.
Engulfing means market has found a direction, I guess. But what happens if engulfing is met with another engulfing?
What is the significance of a long regular body candle here?
If observation is correct then market will act according to the analyses.
If market was moving up before "candles with wicks" formed then an assumption can be made that market is looking to reverse/consolidate. So, some movement from market to validate this should happen.
Spread widening, or some ppl call stop hunting.
There's a big difference of price/move in a particular bar/candle but there's less volume, more or less according to Bill Williams.
A trade should be based on an assumption based on facts
