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Back to the Future – My Freewheeling Journal

  • #181
  • Edited 2:00am Oct 12, 2017 1:31am | Edited 2:00am
Super quick 'cause I'm in a trade.

To me. 1-2-3
1 - Bounce on previous Support.
2 - Normal re-test of the Resistance formed.
3 - Trend Recovery

PS .
Bears = decline
Bulls = rally

This is what I meant about your "aim and results" of a good intention of study.
Don't worry we are here to study together.
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  • #182
  • Oct 12, 2017 2:04am Oct 12, 2017 2:04am
Quoting Jupiter
Super quick 'cause I'm in a trade. To me. 1-2-3 1 - Bounce on previous Support. 2 - Normal re-test of the Resistance formed. 3 - Trend Recovery PS . Bears = decline Bulls = rally This is what I meant about your "aim and results" of a good intention of study. Don't worry we are here to study together. {image}
I'm not sure what the circles are pointing to.
How is the yellow line resistance valid?

Bulls = rally. I shall remember this.
A trade should be based on an assumption based on facts
  • #183
  • Oct 12, 2017 2:17am Oct 12, 2017 2:17am
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A trade should be based on an assumption based on facts
  • #184
  • Oct 12, 2017 2:25am Oct 12, 2017 2:25am
Risky post.
Ready for another skirmish with some readers.

Can I make money in a Bull Market playing as a Bear?
Sure.
If I know the main direction. And if I see and get the proper signal.
Mindset: “And now I wanna trade this correction!”

I know that the trend is up and I know what I must control. (S/R and relative rejections)
The correction is going to test the H1 Trend (that is now Up!)

I'm short and banking some.
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  • #185
  • Oct 12, 2017 2:34am Oct 12, 2017 2:34am
Quoting maverick2017
{quote} I'm not sure what the circles are pointing to.
Each previous battle leaves marks on the ground used by traders to orient their actions.

Maverick...
To me the double bottom (Big W) with the big red arrow is dominant!
In the candle you marked... Bulls are reacted on their support, created by the Point of Confirmation of the Big W.
Bulls are in control!
Engulfing and push up. Then they encounter the bears trench.... the eternal story.

I cannot do more then this for you.
Not on the Internet.
And yes: what I see on a chart could be different from what you see.
Who is the one right?
  • #186
  • Oct 12, 2017 2:36am Oct 12, 2017 2:36am
Banking again...
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  • #187
  • Oct 12, 2017 2:37am Oct 12, 2017 2:37am
DAX M5
Just and simply following.
No bias... I flow and don't think.

960 first support (area)

Go to manage my exposition privately.
Trade well and safe.

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  • #188
  • Oct 12, 2017 2:43am Oct 12, 2017 2:43am
Hi Jupiter

Good to see you have your own thread, I must say you are covering a lot of very good and valuable material that we should all need to know to form a good solid foundation for the basis of becoming a trader, well done my friend.

Good to see Donsky posting again also, hope you are well my friend.

the chart from Maverick2017 and it price action in that run down conforms to normal orderly market movement, if I may refer to one of your previous posts….
https://www.forexfactory.com/showthr...6#post10375126


regards

Phil.

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-be careful about what you allow to be put in your mind-
  • #189
  • Oct 12, 2017 2:48am Oct 12, 2017 2:48am
Quoting phil13
the chart from Maverick2017 and it price action in that run down conforms to normal orderly market movement, if I may refer to one of your previous posts…. https://www.forexfactory.com/showthr...6#post10375126 regards Phil. {image}
Good job as usual, phil. Great.
Much more clear. I was complicated. But the two together are great.
Same cause. Same effect.
Thanks.
We are really building up a Pro Trading Course. (Capital Letters)

THANKS MAMA! WOW.
Watch out at the level 50.
  • #190
  • Oct 12, 2017 2:54am Oct 12, 2017 2:54am
Quoting Jupiter
{quote} Each previous battle leaves marks on the ground used by traders to orient their actions. Maverick... To me the double bottom (Big W) with the big red arrow is dominant! In the candle you marked... Bulls are reacted on their support, created by the Point of Confirmation of the Big W. Bulls are in control! Engulfing and push up. Then they encounter the bears trench.... the eternal story. I cannot do more then this for you. Not on the Internet. And yes: what I see on a chart could be different from what you see. Who is the one right?
I think I understand what you are saying.
Support is from the retest of the big W pattern.
In the candle I marked, bulls have supported the bottom of the candle.
A trade should be based on an assumption based on facts
  • #191
  • Oct 12, 2017 2:57am Oct 12, 2017 2:57am
Quoting maverick2017
{quote} I think I understand what you are saying. .
  • #192
  • Oct 12, 2017 3:03am Oct 12, 2017 3:03am
Scale out.
And only scouts in.
To me it is like the 1° mission has been accomplished.
Now ready for the second one.
+17 +20.60 +26.10

Tip-toe trading in Counter Trend.
With all the due respect for the Main Trend.
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  • #193
  • Oct 12, 2017 3:10am Oct 12, 2017 3:10am
Quoting Jupiter
This is a Daily Candle. Its formation. Its contents. Everything vanishes inside one candle. Hours of battles... crashes... bears and bulls... winners and losers... turning points... occasions.... opportunities!!!! EVEN NEWS! {image}
wouldn't it be better and healthier to trade higher TF ?
retailers may not have the pockets and the patience to trade say weekly or monthly or even daily but how about 4h 6h 8h or 12h ?

does it really benefit you as an individual and your account to meticulously analyze tick moves contained within 1h candle, ? wouldn't it be smart to observe and analyze the collective mind from afar, that way at least you have a chance of ending each month BE unless you truly suck at chart reading.

I personally have done both, minute charts 5m,10m,15m all the way to weekly. What I have learned from trading across all TF is that price is price regardless of the TF you're trading, patterns you spot on 5min will present itself on 10m,15m, 1h,4h and even weekly chart across all pairs (with the exception of some pairs having slight variations of that pattern).

Being beat up so many times over number of years, now I truly understand the market wizards wisdom aka the RR, you have to sit tight on trades thats going for you. Trading smaller TF seems unless of course you're a DAX trader, which tends to move hundreds of pips in a day, the probability of being right and scoring hundreds of pips at the same is much lower than say if you were trading the exact same pattern say on 4h or daily. When you trade lower TF you compromise your win to loss ratio and also mess up your risk to reward ratio.
...
  • #194
  • Oct 12, 2017 3:14am Oct 12, 2017 3:14am
961.05 is the CPP: Central Pivot Point.

That's the only Pivot I use.
Strong Reference for the "Old School" boys.

964 (average) is the H1 Trend.
Now we'll see.
  • #195
  • Oct 12, 2017 3:18am Oct 12, 2017 3:18am
Quoting Jupiter
Can I make money in a Bull Market playing as a Bear? Sure. If I know the main direction. And if I see and get the proper signal. Mindset: “And now I wanna trade this correction!” I know that the trend is up and I know what I must control. (S/R and relative rejections) The correction is going to test the H1 Trend (that is now Up!) I'm short and banking some. {image}
Have made 25 pips on a short scout. Still prudent to add counter major Daily uptrend. Should have add shorts below 12975 and 12968. Now would rather waiting for breaking down through 19500 and then switch to a bull mode, or possibly bear after the next daily resistance testing.
Not to Advance is to Fall Back
  • #196
  • Oct 12, 2017 3:20am Oct 12, 2017 3:20am
Quoting Piquant
{quote} wouldn't it be better and healthier to trade higher TF ? unless of course you're a DAX trader, which tends to move hundreds of pips in a day.
This is why I moved to the indices. They trend!
A pleaure, if you are on the right side.
And this (in part) explain perfectly my mindset and my view,
that could seem "weird" and "wild" to traders of other instruments.

Please, Piquant, tell what is the missing word in your sentence: "Trading smaller TF seems xxx unless of course..."
  • #197
  • Oct 12, 2017 3:23am Oct 12, 2017 3:23am
Quoting Exnav
{quote} Have made 25 pips on a short scout. Still prudent to add counter major Daily uptrend. Should have add shorts below 12975 and 12968. Now would rather waiting for breaking down through 19500 and then switch to a bull mode, or possibly bear after the next daily resistance testing.
As dongsky says... LOL ROFL.
"Don't think to much."
If... then...
If not... this other.

Ah! Now you see trend and countertrend! I'm (heavily) kidding. But kidding! Smile with me.
Question: "Where are the Bulls?"
  • #198
  • Oct 12, 2017 3:23am Oct 12, 2017 3:23am
Quoting phil13
Hi Jupiter Good to see you have your own thread, I must say you are covering a lot of very good and valuable material that we should all need to know to form a good solid foundation for the basis of becoming a trader, well done my friend. Good to see Donsky posting again also, hope you are well my friend. the chart from Maverick2017 and it price action in that run down conforms to normal orderly market movement, if I may refer to one of your previous posts…. https://www.forexfactory.com/showthr...6#post10375126 regards Phil....
Hello Phil,

It's nice to see you here. You have been good in charting and explaining. Have you also tried DAX? It seems apart from any RoKs, or I'm wrong. As soon as we make profits and mastering the process, it's OK with me. I'm on my 2nd Live day DAX.

Best regards, Exnav
Not to Advance is to Fall Back
  • #199
  • Oct 12, 2017 3:29am Oct 12, 2017 3:29am
Quoting Jupiter
{quote} As dongsky says... LOL ROFL. "Don't think to much." If... then... If not... this other. Ah! Now you see trend and countertrend! I'm (heavily) kidding. But kidding! Smile with me.
Very right! But in trading we neither right, nor wrong. PL matters.

I've never had classes on that stuff, learning from FTI and his followers.

Now, I'm missing Dongsky. He must be busy to make GBP/USD 1.3500 at least.
Not to Advance is to Fall Back
  • #200
  • Oct 12, 2017 3:34am Oct 12, 2017 3:34am
Quoting Jupiter
{quote} As dongsky says... Question: "Where are the Bulls?"
I can smell some of them in 12890 or 12940, or above 13025. But this sense must be proved by eyesight yet.

Edit: Otherwise, I should not jump to any opinions being so green-fresh with DAX. This Lady looks attractive but I still have to make acquaintance. Presumably, she must be different from other dancers
Not to Advance is to Fall Back
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