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ReadtheMarket - Supply and Demand with Price Action

  • #5,081
  • Mar 24, 2019 8:31am Mar 24, 2019 8:31am
Quoting charvo
Hi, all so is this a PA (engulf down) that failed to work? found this when reviewing trades...... seems worth discussing...... {image}
First thing first, IMHO.

So this green bar is something consume.
Then it engulfed and become your cap.
Then price go below actually engulf nothing.
Then price shoot your cap like mad.

This question teaching me.
Thanks
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RIP RTM
  • #5,082
  • Mar 24, 2019 8:37am Mar 24, 2019 8:37am
Hi charvo,
I have same question.
I expect buying.
But what I get is revenge setup.
...
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RIP RTM
  • #5,083
  • Mar 24, 2019 9:25am Mar 24, 2019 9:25am
Quoting Tj1
{quote} LTrader16, do you consider LSK to equal to FL ?
No, not in my usual analysis I dot really actively look at things that way anyway , but thats not to say its impossible for an LSK to be an FL as well.
  • #5,084
  • Mar 24, 2019 9:42am Mar 24, 2019 9:42am
Hi, Tj1
see the chart please
this is one of the frequent cases that i can't tell where it's wrong, but it just don't feel right, lol

Quoting Tj1
{quote} Charvo, what makes you think that the low that it broke is a FL ?
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  • #5,085
  • Mar 24, 2019 9:46am Mar 24, 2019 9:46am
thanks, ahdat, yes, i just uploaded a tightened one above in reply to Tj1
Quoting ahdat
{quote}Side note i'm not sure why you drew the zone the way you did. It could be tightened up quite a bit.
  • #5,086
  • Mar 24, 2019 9:59am Mar 24, 2019 9:59am
is LSK those hidden kinks in a strong long candle, and we often have to find these LSK in the lower TF?

if so, my tests show these LSK are often where price turns, but not 'highly' reliable to TT.

imo, the better TT place seem near the visible top/bottom of current TF/scale. for example, a QM zone.

btw, better TT places are same as better entry zone, no matter what method we are using......

Quoting Tj1
{quote} LTrader16, do you consider LSK to equal to FL ?
  • #5,087
  • Mar 24, 2019 10:14am Mar 24, 2019 10:14am
What you expect charvo?

There is two buy orders there... May be

The first is what I like.
But this is what called as RANDOM QUASIMODO LEVEL, isn't?

So again what you expect from it?
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RIP RTM
  • #5,088
  • Mar 24, 2019 11:23am Mar 24, 2019 11:23am
hi, man, u probably misunderstood my chart, or i misunderstand yours.
anyway, it'd be better if you use some good drawing software and put more notes & logic on the chart

my reply is on chart as you see. but i might get you wrong.......

note that my "TT buy" used a wrong green arrow, should've been where your lower buy is.....
Quoting hendzwoter
What you expect charvo? There is two buy orders there... May be The first is what I like. But this is what called as RANDOM QUASIMODO LEVEL, isn't? So again what you expect from it? {image}
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  • #5,089
  • Mar 24, 2019 5:00pm Mar 24, 2019 5:00pm
Hi Charvo take a look one more time to your chart there is a nice level broke up, then in the 5 Min you see the FTR. your engulf engulfs nothing it is a normal flag.
Here you see what i mean.
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Here you have the Place to take a trade
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aka Liquinvest
  • #5,090
  • Mar 24, 2019 5:09pm Mar 24, 2019 5:09pm
Quoting charvo
hi, man, u probably misunderstood my chart, or i misunderstand yours. anyway, it'd be better if you use some good drawing software and put more notes & logic on the chart my reply is on chart as you see. but i might get you wrong....... note that my "TT buy" used a wrong green arrow, should've been where your lower buy is..... {quote} {image}
Actually there is no wrong with your reading nor the market.

1R trade is not a fail trade. But this is a random QML trade. It works. Many times it just give us a little we know it as reading many completed QML setup.
RIP RTM
  • #5,091
  • Mar 24, 2019 6:41pm Mar 24, 2019 6:41pm
your trade is a nice one

however, you probably misread the engulf that i marked. i use a 5-min chart to show it better......

Quoting Copis
Hi Charvo take a look one more time to your chart there is a nice level broke up, then in the 5 Min you see the FTR. your engulf engulfs nothing it is a normal flag. Here you see what i mean. {image} Here you have the Place to take a trade {image}
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  • #5,092
  • Edited 7:32pm Mar 24, 2019 7:20pm | Edited 7:32pm
let's call a PA trade, IN ORDER TO see how well it will play, ......

btw, i'm aware that by stricter rules, the engulf might have reached a target. but let's see...
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  • #5,093
  • Mar 24, 2019 10:12pm Mar 24, 2019 10:12pm
Quoting selfcontrol
Uderfrykte: No, it has nothing to do with that candle and I never use tick charts. Emicovi: Just go on YouTube and search for "how fractals are made" or "mandelbrot set" or the like. {image}{image}
hey sir, i have been following your contents, and learn a lot from them but i still get confusion in one two cases. How to work with scales and symmetry in the market. Please if you can give a little explanation about these it will be a good startup to my practising
  • #5,094
  • Mar 25, 2019 3:04am Mar 25, 2019 3:04am
Quoting charvo
your trade is a nice one however, you probably misread the engulf that i marked. i use a 5-min chart to show it better...... {quote} {image}
Hi charvo i donīt missread your chart i have the same one but there is no significant engulf in this Flag.
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H4
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aka Liquinvest
  • #5,095
  • Mar 25, 2019 6:54am Mar 25, 2019 6:54am
got you now, you are right!
Quoting Copis
{quote} Hi charvo i donīt missread your chart i have the same one but there is no significant engulf in this Flag. {image} H4 {image}
  • #5,096
  • Mar 25, 2019 9:26am Mar 25, 2019 9:26am
Hello. Let's discuss about this.
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  • #5,097
  • Edited 9:52am Mar 25, 2019 9:42am | Edited 9:52am
Quoting senseye
Hello. Let's discuss about this. {image}
This looks like a diamond, and after engulf marked red at the bottom square, there is always a possibility that market reverse and make a diamond before falling. It might be (theoretically) any level above, so you can catch such a move from the last MPL on this screen - there is compression, and a good place, a good QML/MPL level at the entry of this CP - you can put a limit order there. CP and QM level on the other side is one of the dream areas where reversals frequently happen.

However, if this move was during the news it would be unwise as there can be a spread broadening so this position would not be opened or opened and closed at the same time. Sometimes this works, if you have no time to sit and follow the market use the last MPL with the tiniest SL possible and let the market o the rest. Hope this helps. Some people here may advise you (found something like that here without further comments) that to catch this one you should have faith in this method and to not use SL as the market will be back, but just don't listen.

Another thing I believe important - this high at the left, is it an important one? If not, it can be a false high that will be broken, and the market will reverse higher, so the context of this high should also be taken into account. We have this after engulf marked by you, and market reversed there but after engulf, we don't know of course where the market will reverse - so it might have reversed even higher as well.
  • #5,098
  • Mar 25, 2019 11:41am Mar 25, 2019 11:41am
Quoting charvo
Hi, Tj1 see the chart please this is one of the frequent cases that i can't tell where it's wrong, but it just don't feel right, lol {quote} {image}

What an invitation to sell, right ?
They catched me once in with similar fakeout, i closed my trade right at similar FO. How suprised i was when they continued the way i was expecting them to go to



I see there a perfect kink that supposed to reverse the price nicely. And it got ignored. What happens with ignored perfect level ?

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  • #5,099
  • Mar 25, 2019 11:47am Mar 25, 2019 11:47am
Quoting charvo
is LSK those hidden kinks in a strong long candle, and we often have to find these LSK in the lower TF? {quote}
Candle doesn't matter.


Quoting charvo
if so, my tests show these LSK are often where price turns, but not 'highly' reliable to TT. {quote}

There is a simple rule to pick reliable ones. Maybe somebody posted it here already. This is more private talks, man.
  • #5,100
  • Mar 25, 2019 11:51am Mar 25, 2019 11:51am
Quoting Copis
Hi Charvo take a look one more time to your chart there is a nice level broke up, then in the 5 Min you see the FTR. your engulf engulfs nothing it is a normal flag. Here you see what i mean. {image} Here you have the Place to take a trade {image}

Agree, man. On pepperstone they even touched it before they go.

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