{quote} nice one
That why I posted the trade 
ReadtheMarket - Supply and Demand with Price Action
{quote} Looks like you were right buddy. Ignored level held price down (and really its the edge of a larger FL). In retrospect, I was trying to be too smart for my own good. We had a HTF engulf down, we follow engulf down, only carefully scalp moves up. Now that i think about it, not the firsts time i've done thisAlso kicking myself for being lazy. If we look deeper into the move, we see there's an obviously flip level right after price moves away from the ignored level. Should have kept watching price, reconsider when we saw this...
Thanks for following up, Ahdat. This is actually the place I need to understand further. It is FO, Engulf, Target. If something is missing when determining the FL level, the chart reading could be highly likely give you an opposite expectation.
Is it FO actually pricing reaching a target? When reading the chart, we could see that price reacts to most of the FL, ignored D or ignored S, however one of this thing would eventually turned the price. We don't know which one until it becomes a history. it feels that it becomes the order management in this case, for example, taking some profit and let the rest run.
I use the same chart to make a fews point for further conversion;
- #4,823
- Edited 9:13am Feb 27, 2019 9:03am | Edited 9:13am
{quote} Thanks for following up, Ahdat. This is actually the place I need to understand further. It is FO, Engulf, Target. If something is missing when determining the FL level, the chart reading could be highly likely give you an opposite expectation. Is it FO actually pricing reaching a target? When reading the chart, we could see that price reacts to most of the FL, ignored D or ignored S, however one of this thing would eventually turned the price. We don't know which one until it becomes a history. it feels that it becomes the order management...
The best QM was this
aka Liquinvest
{quote} That was a few years ago. I did make a bold move, and we are going out until today. She behaves like the market. Just kidding, she was lovely and my fav personHere is my next attempt bro. I dont know if this one is correct. {image} I am now working on the new questions about MPL and important lower limit. You want me to explain why they are important right? MPL: i dont really have a clue. it looks like there is a small FL flip, or am i imagining things? {image} lower limit zone: i kind of undermined this one. it look strong because...
Keep in mind that flip FLs is just part of the equation. In this instance, it jumps out at me because it looks like a little trick has been played there. Remember that video i sent the other day. Trick areas are wonderful.
The bottom kink lines up with the bottom line of the larger FL. And when you drill down like you did, you see a little trick there was ignored (price should have at least bounced there). Price often bounces at the tops and bottoms of large FLs.
RIP RTM - long live Nonsense Trading
- #4,827
- Edited 12:40pm Feb 27, 2019 12:26pm | Edited 12:40pm
{quote} Thanks for following up, Ahdat. This is actually the place I need to understand further. It is FO, Engulf, Target. If something is missing when determining the FL level, the chart reading could be highly likely give you an opposite expectation. Is it FO actually pricing reaching a target? When reading the chart, we could see that price reacts to most of the FL, ignored D or ignored S, however one of this thing would eventually turned the price. We don't know which one until it becomes a history. it feels that it becomes the order management...
Yea definitely, until it reaches the mpl or last set of orders of your target TF move, you have to be diligent with trade management.
RIP RTM - long live Nonsense Trading
This is about the 5th time this has happened in the past couple of weeks. I enter on the turn, then psyche myself out and close the trade. I'm not accepting the inherent risk of trading, too much fear of losing my winnings after a couple of good trades. Need to go back to reading Trading In The Zone, and put together a training plan to stop this. Psychology and discipline, need to build it back up.
RIP RTM - long live Nonsense Trading
{quote} Yea i notice when price is consolidating like this, its likes to just whip back and forth taking out all orders, kinda like a pinball. Often you can just look beyond a low/high, and if there is a fresh zone, it'll likely react to that strongly as its looking for an order at the other end. Yea definitely, until it reaches the mpl or last set of orders of your target TF move, you have to be diligent with trade management. {image}
you should have got your tg1 already at this moment and might do further down...
- #4,838
- Edited 9:50pm Feb 27, 2019 8:59pm | Edited 9:50pm
I think there is messing up the scale here :
Clay, man i respect your ability to trade, but price reading needs to be improved. It looks like there is a small gap in understanding FLs evolution and scale. Limit that holds the flag is important until until that small limit is clearly visible on the chart. Once that small limit becomes invisible - then there is zero value to that small limit. Now the flag itself that this limit was holding evolves into a new limit for a bigger flag that is seen on this new scale.
Edit:
Those price reversals from tiny invisible kinks are the reversals from proper left shouldr kinks. These price reversals nothing to do with expired invisible limits of visible flags on the scale you are looking at. Remember If's quote (parahprased from somebody) : "what i see on this scale clearly - refers to this scale ".
Another loginc : proper left shoulders do reverse the price. But if these left shoulders are not inside the proper limit, then this is only a reversal to bounce the price and they do not influence the story of price. The story of price is written by proper visible limits.
Peace brother
Clay, man i respect your ability to trade, but price reading needs to be improved. It looks like there is a small gap in understanding FLs evolution and scale. Limit that holds the flag is important until until that small limit is clearly visible on the chart. Once that small limit becomes invisible - then there is zero value to that small limit. Now the flag itself that this limit was holding evolves into a new limit for a bigger flag that is seen on this new scale.
Edit:
Those price reversals from tiny invisible kinks are the reversals from proper left shouldr kinks. These price reversals nothing to do with expired invisible limits of visible flags on the scale you are looking at. Remember If's quote (parahprased from somebody) : "what i see on this scale clearly - refers to this scale ".
Another loginc : proper left shoulders do reverse the price. But if these left shoulders are not inside the proper limit, then this is only a reversal to bounce the price and they do not influence the story of price. The story of price is written by proper visible limits.
Peace brother
