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ReadtheMarket - Supply and Demand with Price Action

  • #5,041
  • Mar 20, 2019 6:27am Mar 20, 2019 6:27am
Quoting ahdat
{quote} here's what i see {image}

agree
  • #5,042
  • Mar 20, 2019 8:36am Mar 20, 2019 8:36am
A trade that taken by mertch long ago.

I can't forget it cause don't know the reason.
Attached Image
RIP RTM
  • #5,043
  • Edited 10:49am Mar 20, 2019 9:50am | Edited 10:49am
Quoting amir558
{quote} sorry but whats your reason for this enters?
hmm...
dont follow me brother, I just trade at fresh S/D

I think its the same thing with ahdat eyes at selfcontrol chart
sometimes I TT, somtimes watch PA

Quoting ahdat
{quote} here's what i see {image}
Or this chart, but ummm... Too late to look at chart
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Edit : here's earlier trades I took on EU
fresh level
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  • #5,044
  • Mar 20, 2019 3:10pm Mar 20, 2019 3:10pm
Analysing on the phone is so easy due to it's screen size/aspect ratio.

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  • #5,045
  • Edited 6:01pm Mar 20, 2019 5:15pm | Edited 6:01pm
Hi everybody,
I guess I still need to learn.

I set sell limit order. And it works after hit my SL first.
I guess my reading was right. But market tells me not.
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RIP RTM
  • #5,046
  • Mar 20, 2019 5:43pm Mar 20, 2019 5:43pm
Quoting arcticmoneys
{quote} hmm... dont follow me brother, I just trade at fresh S/D I think its the same thing with ahdat eyes at selfcontrol chart sometimes I TT, somtimes watch PA {quote} Or this chart, but ummm... Too late to look at chart {image} Edit : here's earlier trades I took on EU fresh level {image}
happy to not being greedy, as its just a scalp

set my long at lower blue box, but price know my plan

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  • #5,047
  • Mar 20, 2019 8:16pm Mar 20, 2019 8:16pm
There's some great discussion on here from selfcontrol and everyone else. I'm trying to get to grips with the concepts and I've come across a common situation that's confusing me.

Early on in the thread there's a lot of charts showing overlapping FL's...one hold's price down, then another takes it out and forms a new FL to hold price up. This makes sense to my brain...a kind of swapping of orderflow.
Then along comes the LS kink !! And what I find is that it's not always aligned with an FL. In the diagram below, as price comes down to the RED FL I'd like to know what you guys are thinking ---

1. Are you looking to buy at the MPL of that FL with a tiny SL in case price eventually wants to go to the kink?
2. Do you now ignore the FL and wait from a trade at the kink?
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  • #5,048
  • Mar 21, 2019 1:35am Mar 21, 2019 1:35am
Quoting Danger-Mouse
There's some great discussion on here from selfcontrol and everyone else. I'm trying to get to grips with the concepts and I've come across a common situation that's confusing me. Early on in the thread there's a lot of charts showing overlapping FL's...one hold's price down, then another takes it out and forms a new FL to hold price up. This makes sense to my brain...a kind of swapping of orderflow. Then along comes the LS kink !! And what I find is that it's not always aligned with an FL. In the diagram below, as price comes down to the RED FL...
it depends. although its best when everything lines up
RIP RTM - long live Nonsense Trading
  • #5,049
  • Mar 21, 2019 4:21am Mar 21, 2019 4:21am
Quoting selfcontrol
Analysing on the phone is so easy due to it's screen size/aspect ratio. {image}{image}{image}{image}
Wow selfcontrol, these reads on price are truly next level. Those stops are crazy tight.
  • #5,050
  • Mar 21, 2019 4:38am Mar 21, 2019 4:38am
Quoting TraderNZ
{quote} Wow selfcontrol, these reads on price are truly next level. Those stops are crazy tight.
yup, study his trades guys. Go through all the TFs, figure out why he entered and exited where he does.
RIP RTM - long live Nonsense Trading
  • #5,051
  • Mar 21, 2019 5:16am Mar 21, 2019 5:16am
Quoting hendzwoter
Hi everybody, I guess I still need to learn. I set sell limit order. And it works after hit my SL first. I guess my reading was right. But market tells me not. {image}
See, you can't just say "guess not" when something you analyse fail - you need to dig deeper and see why. And asking here on the forum is not the answer to those questions, you need to do it again and again until you see consistency in your reasoning, only then will you be able to read price confidently and with no regard to what anyone else tells you. If it works, it works. Sure, you will get some losers here and there, but in the grand scheme of things they won't even equal a drop in the ocean when you look at the RR.

I've been analysing like this for a year now, first found forex in the summer 2017, yet here I am. Do you think I would be spending my time on this forum if I was economically free to do what I want? Not a chance. I am stuck with my inner demon, a mean son of a bitch stopping me from taking 99% of the trades I analyse because of an extreme fear of failure, an intense tendency of self-harm and a need for absolute perfection in anything I do. Do not let the inner critical voice take control over your mind and body people, it is living hell. Analysing is one beast to tame, trading is a whole different being.

The thing keeping me going is knowing that if I had taken just a fraction of all the trades I've analysed over the last year I'd be one of the richest men in the world. I am going way beyond what I originally planned on sharing on this forum, but I know from my own experience that these charts will not mean a damn thing to anyone who's not made tender love to the charts for thousands of hours and truly try to understand - and that is okay with me.

And your obsession with mertch's old chart - if you can't reason it out, do you really need to know it? There is absolutely no need to trade every move in the market, as long as you find your (hate this f-ing word), edge, you will be set. I never cared for any of the terminologies from this thread except for "flag limit", that's all it is to me. All I've learned is from my own chart time, plus the basics from the charts of some of the contributors in this thread, but most of the time their reasoning and charts were not accurate enough to satisfy me. Trades with no stop loss? That is madness in my opinion.

Do you keep a structured approach to learning how to analyse properly? Do you make hypotheses and test them out? If not, then how can you say that you are giving it your best effort? This became more of a rant than I intended, but I just didn't want anyone to think I was doing something I am not. When I disappear from the forum you know I have beaten my demon.
  • #5,052
  • Mar 21, 2019 6:40am Mar 21, 2019 6:40am
Quoting hendzwoter
A trade that taken by mertch long ago. I can't forget it cause don't know the reason. {image}
Maybe, he has the same reason with my trades

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  • #5,053
  • Mar 21, 2019 12:40pm Mar 21, 2019 12:40pm
so true, that's why i rarely refrain from telling truth/secrets (in my brain)

since nowadays i understand this is exactly like soccer tennis or whatever sports, one has to exercise it thousands of times to get it... not by hearing it, lol

Quoting selfcontrol
{quote} I am going way beyond what I originally planned on sharing on this forum, but I know from my own experience that these charts will not mean a damn thing to anyone who's not made tender love to the charts for thousands of hours and truly try to understand - and that is okay with me.
  • #5,054
  • Mar 21, 2019 3:58pm Mar 21, 2019 3:58pm
Quoting charvo
Hi, MTL, your statistics make me wonder, since i'm suffering from this issue: how to define the TP? or estimate the most likely target? for every setup, i put 3 positions, each position would be 1R risk if lose, i'll lose 3R if winning, i'll exit 1st position at 1R, so 1R win i'll exit 2nd position at 2R, so 2R win i'll exit 3rd position at 5R, so 5R win ( or it retrace back to 1R?) altogether, i have 8R win (or 4R, if price did retrace) so all in all, for my setup, I have only 8:3 (or 4:3), that is, 2+RR or 1+RR. That's what I got for my TT, although...
Hi Charvo,

Sorry for the late reply
I do take trades on HTF and my entries down to M1.
I set up a reasonable target and put a take profit on the trade.
If I get stopped out even after my trade went in my favor I never touch the stop loss.
I let the take profit take me out and most of the times I reverse my trade.

I always takes extremes of the range in the direction of the engulf in the scale i'm trading

the drawing i did to hendzwoter is exaclty how i trade any pair and any Time frame.

When I get stopped out I know an engulf has occured and I will generaly take the opposite edge of the range.
I don't trade FTR I trade decision to come back in after engulf. It gives me very high RR

Don't be lazy going down to M1, it's worth the time. It will increase your RR, increase your lot size and you can even lower % at risk

my 2 cents
  • #5,055
  • Mar 21, 2019 4:04pm Mar 21, 2019 4:04pm
Quoting Danger-Mouse
There's some great discussion on here from selfcontrol and everyone else. I'm trying to get to grips with the concepts and I've come across a common situation that's confusing me. Early on in the thread there's a lot of charts showing overlapping FL's...one hold's price down, then another takes it out and forms a new FL to hold price up. This makes sense to my brain...a kind of swapping of orderflow. Then along comes the LS kink !! And what I find is that it's not always aligned with an FL. In the diagram below, as price comes down to the RED FL...
Hi Danger-Mouse,

This has been working for me,
trading the FTR has not been as rewarding for me
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  • #5,056
  • Mar 21, 2019 4:32pm Mar 21, 2019 4:32pm
Thank you! you made perfect sense by sticking to your SL. If I can reliably decide a PA, then I should definitely apply your logic.

Quoting MTL Trader
{quote} When I get stopped out I know an engulf has occured and I will generaly take the opposite edge of the range. I don't trade FTR I trade decision to come back in after engulf. It gives me very high RR Don't be lazy going down to M1, it's worth the time.
  • #5,057
  • Mar 21, 2019 4:36pm Mar 21, 2019 4:36pm
sorry, MTL, where is the FTR in this chart? I see only FLs here. In your reply to me, you also suggest not trading FTR, ---- i agree, but would like to see your definition of FTR......
Quoting MTL Trader
{quote} Hi Danger-Mouse, This has been working for me, trading the FTR has not been as rewarding for me {image}
  • #5,058
  • Mar 21, 2019 4:50pm Mar 21, 2019 4:50pm
Quoting charvo
sorry, MTL, where is the FTR in this chart? I see only FLs here. In your reply to me, you also suggest not trading FTR, ---- i agree, but would like to see your definition of FTR...... {quote}
the break of the high in the blue fl and continuing in the same direction the lower base of the red fl on the right of his chart is the ftr
  • #5,059
  • Mar 21, 2019 6:39pm Mar 21, 2019 6:39pm
Quoting benadil
{quote} the break of the high in the blue fl and continuing in the same direction the lower base of the red fl on the right of his chart is the ftr
Yes, so I took MTL's response to me to mean that he basically expects the RED FL/FTR to be FO'd to the kink
  • #5,060
  • Mar 21, 2019 6:52pm Mar 21, 2019 6:52pm
Quoting Danger-Mouse
{quote} Yes, so I took MTL's response to me to mean that he basically expects the RED FL/FTR to be FO'd to the kink
Exactly!

you wait for the engulf and you buy back the kink or sell the kink

here's an awesome trade that i missed on USDCAD that shows brilliantly the decision to break in
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