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You Already Know How to Trade! (Supermarket Deals)

  • #21
  • Edited 8:12am Dec 11, 2019 7:54am | Edited 8:12am
This is interesting on how you read the movement.

I dont understand, you entered at 110.71... but the target is 110.50 ( how do you get to know the target, if you dont mind sharing).

Would like to know more about this, as i am also practising the similar approach.
  • #22
  • Dec 11, 2019 4:26pm Dec 11, 2019 4:26pm
Quoting rezzer
This is interesting on how you read the movement. I dont understand, you entered at 110.71... but the target is 110.50 ( how do you get to know the target, if you dont mind sharing). Would like to know more about this, as i am also practising the similar approach.

Ah, typo sorry. 109.71

Sure I will give a primer on basic price structure soon but it is nothing new.
  • #23
  • Dec 11, 2019 5:46pm Dec 11, 2019 5:46pm
Quoting failinforex
They told me to Mind the Gap, everyday as I board the train. {image} Thin liquidity plus a GAP. Bad habit die hard, yet a hindsight chart, but hopefully it serves as a reminder to mind the gap.
Direction is correct but it blown the top. Yes the mid-band did hinder the upward thrust. For now have to see how voting play out.
  • #24
  • Edited 12:35pm Dec 12, 2019 12:15pm | Edited 12:35pm
Bought Euro/Dollar .11066

Target at least .1127

SL .1060

I am more likely to get out if the trade says I am wrong than to hit my SL.
  • #25
  • Dec 12, 2019 5:21pm Dec 12, 2019 5:21pm
Quoting Skracor247
Bought Euro/Dollar .11066 Target at least .1127 SL .1060 I am more likely to get out if the trade says I am wrong than to hit my SL.
I had to close this trade with no profit as I had some family stuff come up. I am not sad to miss the move up. Still a good projection on my part.
  • #26
  • Dec 13, 2019 2:46am Dec 13, 2019 2:46am
Quoting Skracor247
{quote} Ah, typo sorry. 109.71 Sure I will give a primer on basic price structure soon but it is nothing new.
Ahh.. Typo.. ..

Your EU went well it shoot up. How do you that is the buy level.. The area ..im guessing it is from daily , but to get exact .1106, im buffled.
  • #27
  • Dec 13, 2019 6:03am Dec 13, 2019 6:03am
Quoting rezzer
{quote} Ahh.. Typo.. .. Your EU went well it shoot up. How do you that is the buy level.. The area ..im guessing it is from daily , but to get exact .1106, im buffled.
Yep, it takes experience.

Start with this knowledge. The market is both cyclical and fractal. It should always make 'sense' since it is made up of people placing orders. The only time it doesn't make sense is during black swan events.

When the market is making a move in a direction it generally makes three pushes in that direction.

Also, Timeframes do not exist. This one will mess with you for a while.

Charts to come later.
  • #28
  • Dec 13, 2019 9:32am Dec 13, 2019 9:32am
Do you normally use Daily as your set up, then enter on 1H and 4H. Do you use length of move 1 and/or 2 to project possible length of future moves. If you enter move 2, do you stay in for 3 also. In general, I realize the market dictates.
  • #29
  • Dec 13, 2019 9:38am Dec 13, 2019 9:38am
Quoting rezzer
{quote} Ahh.. Typo.. .. Your EU went well it shoot up. How do you that is the buy level.. The area ..im guessing it is from daily , but to get exact .1106, im buffled.
Looking at the 4HR, take the wicks off the previous swing highs, Dec. 4 - 6, and you have 1.1106. Not sure this is what he does, but it makes sense to not include the wicks.
  • #30
  • Dec 13, 2019 10:31am Dec 13, 2019 10:31am
Quoting Skracor247
{quote} Yep, it takes experience. Start with this knowledge. The market is both cyclical and fractal. It should always make 'sense' since it is made up of people placing orders. The only time it doesn't make sense is during black swan events. When the market is making a move in a direction it generally makes three pushes in that direction. Also, Timeframes do not exist. This one will mess with you for a while. Charts to come later.
Thank you Skracor247,

Would like to understand "when market is making a move in a direction it generally make three pushes in that direction", could you help to elaborate that sentence? with example... how to get into the direction earlier or midway, what happen when it finishes three pushes?
  • #31
  • Dec 13, 2019 10:36am Dec 13, 2019 10:36am
Quoting newfie4x
{quote} Looking at the 4HR, take the wicks off the previous swing highs, Dec. 4 - 6, and you have 1.1106. Not sure this is what he does, but it makes sense to not include the wicks.
"She"... not he.. ..

Could be, someday she will explain on the entry point, now more interesting is the correct direction and area of interest to buy/sell confirmation.

  • #32
  • Dec 13, 2019 3:30pm Dec 13, 2019 3:30pm
Quoting rezzer
{quote} "She"... not he.. .. Could be, someday she will explain on the entry point, now more interesting is the correct direction and area of interest to buy/sell confirmation.
Hehehe... 'He' not 'She'...
  • #33
  • Dec 13, 2019 3:42pm Dec 13, 2019 3:42pm
Quoting rezzer
{quote} Thank you Skracor247, Would like to understand "when market is making a move in a direction it generally make three pushes in that direction", could you help to elaborate that sentence? with example... how to get into the direction earlier or midway, what happen when it finishes three pushes?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF_D1.png Size: 76 KB
  • #34
  • Dec 13, 2019 5:53pm Dec 13, 2019 5:53pm
Quoting Skracor247
{quote} {image}
If you study Elliot Wave theory you might recognize the three waves idea. I found the application of Elliot Waves too rigid. Another great trader explained it to me as pushes.

This is a simplified version of Elliot Wave theory.

Since I said the charts are fractal can you imagine what the Weekly chart looks like?
  • #35
  • Dec 13, 2019 8:50pm Dec 13, 2019 8:50pm
I have used the push idea for many years. Last weekend I started looking at Elliot Wave and this week I am going back to pushes. LOL. Many times I have seen 3 pushes in trend direction followed by 2 pushes countertrend, which is right out of Elliot wave. After 3 sets of 3/2 pushes, usually see 3 pushes counter trend, signalling trend reversal. Most of the time, these direction changes are separated by some reversal pattern. Double top/bottom, head and shoulders, large pinbar, etc.
I was really interested in your entry concept when I seen it earlier today. Have been looking to do that for several years but seem to revert back to trading reversals, which are usually counter trend.
Excited, thank you.
  • #36
  • Dec 13, 2019 9:32pm Dec 13, 2019 9:32pm
Quoting newfie4x
I have used the push idea for many years. Last weekend I started looking at Elliot Wave and this week I am going back to pushes. LOL. Many times I have seen 3 pushes in trend direction followed by 2 pushes countertrend, which is right out of Elliot wave. After 3 sets of 3/2 pushes, usually see 3 pushes counter trend, signalling trend reversal. Most of the time, these direction changes are separated by some reversal pattern. Double top/bottom, head and shoulders, large pinbar, etc. I was really interested in your entry concept when I seen it earlier...
I fought with myself for years trying to catch those reversals... Sneaky ba(*&^s! Now I'm too scared to look for them...

I only follow along with the structure I can see. You could call it 'Trend Following'. Once you can see price structure you get to decide how you are most comfortable trading. This will be different for every single person. If I tell everyone exactly how I do everything they still won't be able to do it the same as me. Individuality I guess... In fact, the trader I studied to learn this 'style' (if you can even call it that) could just about double his account every week. Hard to believe but he showed the account statements to prove it. I definitely am NOT as good as him and continue to improve my trading.

I am interested to see others 'aha!' moments so I am glad you came by and posted.

One more thing. I love puzzles and finding the solutions is very rewarding for me. If I don't answer every question with words it is because I have answered it with a chart and am waiting for people to figure it out for themselves. I have enjoyed every minute of study I have put in over the years and would not want to deprive anyone of the same. Hopefully, someone will come up with something amazing that I haven't seen yet. That would be spectacular!

Stick around and I will keep posting charts that may clear up some of your more detailed questions.

Cheers,

Skracor247
  • #37
  • Dec 14, 2019 5:13am Dec 14, 2019 5:13am
I agree that "timeframes" are somewhat artificial but - since they got created and popularized - we have to deal with them and switch between different frames of the same chart. Such is life
I currently draw levels on daily, 4hr and 1hr. Then when market comes closer to one of those lines I tend to switch to lower timeframes just "to pick a better entry". Old habits die hard. But some of those need to go!
  • #38
  • Dec 14, 2019 3:46pm Dec 14, 2019 3:46pm
Quoting OldKid
I agree that "timeframes" are somewhat artificial but - since they got created and popularized - we have to deal with them and switch between different frames of the same chart. Such is life I currently draw levels on daily, 4hr and 1hr. Then when market comes closer to one of those lines I tend to switch to lower timeframes just "to pick a better entry". Old habits die hard. But some of those need to go!
A 'timeframe' exists much in the same way a 'meter' or a 'kilogram' do. They are ideas to help us understand something better. In the case of 'timeframes' it is to help us understand the relationship of price over time. Since price is not dependent on time this can be a little misleading. If we get stuck on one timeframe or another our trading can become too rigid and won't be flexible enough to deal with the changing conditions of the market. Sometimes a piece of pertinent information will show up on a timeframe we are not used to using and will mess up our projections. You are right we are 'stuck' with timeframes, but I want to encourage people to try to look beyond them.
  • #39
  • Dec 14, 2019 5:49pm Dec 14, 2019 5:49pm
Quoting Skracor247
{quote} A 'timeframe' exists much in the same way a 'meter' or a 'kilogram' do. They are ideas to help us understand something better. In the case of 'timeframes' it is to help us understand the relationship of price over time. Since price is not dependent on time this can be a little misleading. If we get stuck on one timeframe or another our trading can become too rigid and won't be flexible enough to deal with the changing conditions of the market. Sometimes a piece of pertinent information will show up on a timeframe we are not used to using...
Hi Skracor,

It's interesting to Observe what happens to Price when we see a Break and Close above/below a previous H4 Bar.

A "Lower Time Frame" gives us more "detail" of what happens within a H4 Bar.

It's interesting to Observe how Price reacts when it returns to Test the Break Level.

As you are aware the Market is Fractal by Nature and the same things happen on all "Time Frames" because Price is Price irrespective of Time

If this doesn't fit in to what you are discussing just let me know and I will delete the post.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 14th Dec 19 GBP:USD H4 Observations.png Size: 180 KB
Click to Enlarge Name: 14th Dec 19 GBP:USD M15 Observations.png Size: 200 KB
  • #40
  • Dec 14, 2019 8:40pm Dec 14, 2019 8:40pm
Quoting stevepatt
{quote} Hi Skracor, It's interesting to Observe what happens to Price when we see a Break and Close above/below a previous H4 Bar. A "Lower Time Frame" gives us more "detail" of what happens within a H4 Bar. It's interesting to Observe how Price reacts when it returns to Test the Break Level. As you are aware the Market is Fractal by Nature and the same things happen on all "Time Frames" because Price is Price irrespective of Time If this doesn't fit in to what you are discussing just let me know and I will delete the post. {image} {image}
This is good! This is what I mean when I say 'find the deal'. You already know where to look for good bargain basement prices for purchasing your goods. I am sure this came after plenty of time studying.

Did someone tell you about this or did you discover it yourself? My trading is 80% others work and 20% my own discovery. The 20% is what I am really proud of.
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