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ReadtheMarket - Supply and Demand with Price Action

  • #5,301
  • May 28, 2019 8:36am May 28, 2019 8:36am
Hey Guys,
I've been trying to get my head round this RTM stuff for a while but some things still don't make sense to me. I wonder if anyone can help?
I've posted a screenshot from IF's Trick Zone video. While I completely understand the logic behind the trick zone he highlights in the long red box, I'm having real trouble trying to understand why that level is still important after the return at point 1, especially considering how much price action has occurred above and below it in the interim period.

There's 3 major approaches to the level from below (1,2,3). None of them produce a decent sell off. Then of course at point 4 it's a pinpoint wonder trade. There's going to be some kind of engulf in that small red box I drew so you'd think 3 would have had a decent chance of selling off.

Is it a case that I'm mixing up scales here and we really need to wait for his blue box on the daily to be engulfed?

Besides all that, I just find it hard to reason from an order flow point of view why that level is still so relevant given hos many times price has passed back and forth through it.

Thanks in advance
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  • #5,302
  • May 28, 2019 8:46am May 28, 2019 8:46am
Quoting Danger-Mouse
Hey Guys, I've been trying to get my head round this RTM stuff for a while but some things still don't make sense to me. I wonder if anyone can help? I've posted a screenshot from IF's Trick Zone video. While I completely understand the logic behind the trick zone he highlights in the long red box, I'm having real trouble trying to understand why that level is still important after the return at point 1, especially considering how much price action has occurred above and below it in the interim period. There's 3 major approaches to the level from...
another way to think about it is classic key levels. ideally you'll have other things line up with up. in this case we have an engulf down and price retraced back into the pole. Price *could* have gone higher, but this was a great level to look for a trade given how price was set up. There was probably some kind of confirmation in the lower tf too.

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RIP RTM - long live Nonsense Trading
  • #5,303
  • May 28, 2019 10:57am May 28, 2019 10:57am
Quoting Danger-Mouse
Hey Guys, I've been trying to get my head round this RTM stuff for a while but some things still don't make sense to me. I wonder if anyone can help? I've posted a screenshot from IF's Trick Zone video. While I completely understand the logic behind the trick zone he highlights in the long red box, I'm having real trouble trying to understand why that level is still important after the return at point 1, especially considering how much price action has occurred above and below it in the interim period. There's 3 major approaches to the level from...
Look on the overall Picture ;-)
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aka Liquinvest
  • #5,304
  • May 29, 2019 1:33am May 29, 2019 1:33am
Quoting Danger-Mouse
Hey Guys, I've been trying to get my head round this RTM stuff for a while but some things still don't make sense to me. I wonder if anyone can help? I've posted a screenshot from IF's Trick Zone video. While I completely understand the logic behind the trick zone he highlights in the long red box, I'm having real trouble trying to understand why that level is still important after the return at point 1, especially considering how much price action has occurred above and below it in the interim period. There's 3 major approaches to the level from...
Heres a recent one to study

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RIP RTM - long live Nonsense Trading
  • #5,305
  • May 29, 2019 4:20am May 29, 2019 4:20am
Thanks guys for the replies. I really appreciate you trying to help.
I've looked at your replies for a while and I'll try and explain the points (in black) in Copis chart first.

1. Edge of CP with a couple of pointy re-tests at the same level - this will be a good trick level to break in future.
2. This is the next major trick level above the one marked by IF (3) and a nice sell reaction to the edge of it.
4. Is the EN...and the target is the 6, the MPL of first significant UFL? … but here is where my brain starts wandering...4 also looks like a nice reaction to a trick level in the past?
5. is IF's sell point and it works great. The problem is..I'd have been looking to sell up at that orange box instead.

The longer I look at a chart the more I see and it's just clouding my judgement I feel.
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  • #5,306
  • May 29, 2019 4:40am May 29, 2019 4:40am
And in reply to Ahdat. Thanks, I see the way you extended IF's trick zone to show it as a flip.
I'm having trouble understanding the UC chart thought.
I see the trick levels you marked. They all turned into nice IQM bounces later.
Is that a CP you've marked at the bottom of chart? If it is then I really struggle with these. I see at least 2 good bounce points in there, where am I going wrong?
Also, picking the most important LS (1 or 2) has a huge bearing in the drawing of that green FL..and therefore it's future EN.
I'm sorry if I'm asking really obvious questions. I've got so much going round in my head and I just can't seem to focus on the most important points on a chart
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  • #5,307
  • May 29, 2019 7:05am May 29, 2019 7:05am
Quoting Danger-Mouse
And in reply to Ahdat. Thanks, I see the way you extended IF's trick zone to show it as a flip. I'm having trouble understanding the UC chart thought. I see the trick levels you marked. They all turned into nice IQM bounces later. Is that a CP you've marked at the bottom of chart? If it is then I really struggle with these. I see at least 2 good bounce points in there, where am I going wrong? Also, picking the most important LS (1 or 2) has a huge bearing in the drawing of that green FL..and therefore it's future EN. I'm sorry if I'm asking really...
The cp area could be spilt up into two distinct cp zones, split where you have your two zones. In the higher tf it just looks like one.

In that area between the two ls, if you go into the ltf, you’ll see why price bounced off there. But you can often just trade the areas between the two ls. I like to think of it as a trick zone/key level zone
RIP RTM - long live Nonsense Trading
  • #5,308
  • May 29, 2019 7:45am May 29, 2019 7:45am
Hi Ahdat,

I see the FL that crosses the 2 LS. I can't go down less than M15 at the moment, but IF always indicated we should draw FL's in the lowest possible TF didn't he? Even going down to M15 changes the definition of that FL.argg!! Anyway, it is a nice clear FL in M30 and price bounces exactly off it's MPL on return. It looks nice but I didn't get the significance of your green line. That bounce looks like an EN in your chart?

I hope I'm not bugging you with all the questions. I've been trying like mad to get a grasp of this stuff but I'm clearly not on the same level as some of you guys.
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  • #5,309
  • May 29, 2019 8:40am May 29, 2019 8:40am
Quoting Danger-Mouse
Hi Ahdat, I see the FL that crosses the 2 LS. I can't go down less than M15 at the moment, but IF always indicated we should draw FL's in the lowest possible TF didn't he? Even going down to M15 changes the definition of that FL.argg!! Anyway, it is a nice clear FL in M30 and price bounces exactly off it's MPL on return. It looks nice but I didn't get the significance of your green line. That bounce looks like an EN in your chart? I hope I'm not bugging you with all the questions. I've been trying like mad to get a grasp of this stuff but I'm clearly...
i'm not talking about the green line, but the pink rectangle you have underneath it. It would probably be a bit clearer lower than m15. If you can put together the story and understand what's happening, this scenario will net you a lot of pips. It would have been reasonable to put a PO there, which in this case would've easily netted you 15R, 20-30R if you were carried it all the way to its tg. I had it marked, but still working on my PO game =/
RIP RTM - long live Nonsense Trading
  • #5,310
  • May 30, 2019 12:18pm May 30, 2019 12:18pm
Are both valid as a Left Shoulder?
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  • #5,311
  • Edited 1:57am Jun 1, 2019 1:38am | Edited 1:57am
Quoting ahdat
{quote} Heres a recent one to study {image}
Adding one more comment about these trick levels because usdchf seems to love them at the moment. So when price came back here i took the long because there was some confluence (but i sold it quickly because i was an anxious mess that day). There's a nice QM lvl within the zone, but because the trick zone was wider, the "safe" thing to do was cover move of that zone. They love to play tricks around these areas. You can see price bounced nicely off the qm lvl (blue), but then engulfed deeper into the zone (green) before going up. You could've just traded the qm lvl, but you would have been stop hunted in this case. You could have traded the green, but your RR wouldn't have been as good. Maybe i'm not so smart, so i dont have precise rules that i follow. I just try to look at the price structure and see the possibilities of what they might do. As IF says, look for tricks in the past, with tricks coming up on approach.

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RIP RTM - long live Nonsense Trading
  • #5,312
  • Jun 1, 2019 2:04am Jun 1, 2019 2:04am
Quoting ahdat
{quote} Adding one more comment about these trick levels because usdchf seems to love them at the moment. So when price came back here i took the long because there was some confluence (but i sold it quickly because i was an anxious mess that day). There's a nice QM lvl within the zone, but because the trick zone was wider, the "safe" thing to do was cover move of that zone. They love to play tricks around these areas. You can see price bounced nicely off the qm lvl (blue), but then engulfed deeper into the zone (green) before going up. You could've...
To me it looks like it came back to that ignored qm level to the left.
  • #5,313
  • Jun 1, 2019 2:21am Jun 1, 2019 2:21am
Quoting SuperErnie
{quote} To me it looks like it came back to that ignored qm level to the left.
yep there's lots of different ways to interpret a chart. funny thing is they often lead to the same conclusion.
RIP RTM - long live Nonsense Trading
  • #5,314
  • Jun 1, 2019 3:51am Jun 1, 2019 3:51am
Quoting ahdat
{quote} yep there's lots of different ways to interpret a chart. funny thing is they often lead to the same conclusion.
Why you say Ignored QML but what I see is FL??

Sorry.
Ok. That's cool.
Thanks for your posts.
Helping me.
RIP RTM
  • #5,315
  • Jun 1, 2019 11:41am Jun 1, 2019 11:41am
Quoting ahdat
{quote} another way to think about it is classic key levels. ideally you'll have other things line up with up. in this case we have an engulf down and price retraced back into the pole. Price *could* have gone higher, but this was a great level to look for a trade given how price was set up. There was probably some kind of confirmation in the lower tf too. {image}
Insight is always very easy, but I suppose it works a bit like that
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  • #5,316
  • Jun 1, 2019 6:42pm Jun 1, 2019 6:42pm
If you have mastered IF's strategy, has a live account to show using investor password and is willing to manage a small account, please PM me.
  • #5,317
  • Jun 1, 2019 7:18pm Jun 1, 2019 7:18pm
work and you'll be able to play like this (and so do I :-) )

https://www.youtube.com/watch?v=PZrKQhsIE4c
  • #5,318
  • Jun 2, 2019 12:49pm Jun 2, 2019 12:49pm
Quoting corsica
work and you'll be able to play like this (and so do I :-) ) https://www.youtube.com/watch?v=PZrKQhsIE4c
Hi corsica,
With TT setup (QM level) by IF,
How many you see the setup in a whole week from monthly chart until scalping????
RIP RTM
  • #5,319
  • Jun 2, 2019 1:35pm Jun 2, 2019 1:35pm
Hi Hendzwoter,

I'm not sure that I understand your question. This was not a TT, you had a first EG then a second one which retraced to the first. It was PA. Sure, price could have gone 1000 pips lower and never retrace, but it did.
A TT could be the crude trade that IF showed recently, that's different.
  • #5,320
  • Jun 4, 2019 12:34am Jun 4, 2019 12:34am
Quoting corsica
Hi Hendzwoter, I'm not sure that I understand your question. This was not a TT, you had a first EG then a second one which retraced to the first. It was PA. Sure, price could have gone 1000 pips lower and never retrace, but it did. A TT could be the crude trade that IF showed recently, that's different.
Hi corsica,
So actually this is what I know from TT by IF.
But what actually we look for inside QM level?

I see this QM order doesn't have clean order anymore but still work with confirmation.
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