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You Already Know How to Trade! (Supermarket Deals)

  • #61
  • Dec 17, 2019 9:14pm Dec 17, 2019 9:14pm
this is correct ??
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  • #62
  • Dec 17, 2019 11:23pm Dec 17, 2019 11:23pm
Do i have the same view with you???
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I have done this in the past, but always encounter this dillema, when price came to this area of interest, then we have to "guess" which way it will go, will it continue the trend (white line), or will it break the level below.
From the H4 chart above, you can see the yellow line, which i drew based on your 3 push method, i'm wondering maybe price will retrace up to Pivot (Black line) then create 3rd push down, before continue the larger trend going up.
But maybe price will just going up following the white line and green line
  • #63
  • Dec 18, 2019 2:12am Dec 18, 2019 2:12am
I find this a classic problem when working with multiple timeframes - on 1 chart it's a time to buy while on another chart it's a time to sell!
I can't say I found any satisfactory solution to this.
  • #64
  • Dec 18, 2019 4:26am Dec 18, 2019 4:26am
Quoting bocet
this is correct ?? {image}
If on a chart it is not automatically apparent which way price is going, move up in Timeframes until it is. In this case we have to go clear to the Daily before the charts make real sense. Once we have a handle on a larger TF we can move down to see what else there is to see.

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  • #65
  • Dec 18, 2019 4:33am Dec 18, 2019 4:33am
Quoting bocet
this is correct ?? {image}

Attached Image


This may help you.
  • #66
  • Dec 18, 2019 4:40am Dec 18, 2019 4:40am
Quoting phoenix777
Do i have the same view with you??? {image} {image} I have done this in the past, but always encounter this dillema, when price came to this area of interest, then we have to "guess" which way it will go, will it continue the trend (white line), or will it break the level below. From the H4 chart above, you can see the yellow line, which i drew based on your 3 push method, i'm wondering maybe price will retrace up to Pivot (Black line) then create 3rd push down, before continue the larger trend going up. But maybe price will just going up following...
Both charts look correct to me.

The thing about trading is that you never really know 100% where the price is going to go. You can get to know its tendencies and nuances just like you can know a friend. It takes years to get to know a best friend well enough to know what she/he will or won't do and you cannot guarantee their actions always. We act based on our experience. I am conveying some basic principles that apply with nuance. I cannot give you every nuance of every situation because each one of us has to get to know them for ourselves. I am just trying to point you in the direction that has done me the most good.

My best advice is observe. Those questions you have, write them down on a notepad and don't forget to answer them when price answers them. Gather all those observations of the tendencies of price over the years and you will know your new friend.
  • #67
  • Dec 18, 2019 4:43am Dec 18, 2019 4:43am
Quoting newfie4x
{quote} {image} This may help you.
Hehehe. You have totally got it Newfie. And you beat me to it!
  • #68
  • Dec 18, 2019 4:51am Dec 18, 2019 4:51am
Quoting OldKid
I find this a classic problem when working with multiple timeframes - on 1 chart it's a time to buy while on another chart it's a time to sell! I can't say I found any satisfactory solution to this.
If I am looking to trade a pair and it is confusing in any way I move on to another pairing. If I am going to place my real money on something I want to have confidence in my decision. Every trade I take I am confident it will go my direction. If I am not confident I don't take the trade. Now this is not to say I am never wrong. Only that uncertainty breeds bad investments.
  • #69
  • Dec 18, 2019 8:03am Dec 18, 2019 8:03am
Quoting Skracor247
{quote} Both charts look correct to me. The thing about trading is that you never really know 100% where the price is going to go. You can get to know its tendencies and nuances just like you can know a friend. It takes years to get to know a best friend well enough to know what she/he will or won't do and you cannot guarantee their actions always. We act based on our experience. I am conveying some basic principles that apply with nuance. I cannot give you every nuance of every situation because each one of us has to get to know them for ourselves....
Thank you for your reply
I believe it comes to probability game. We can not be sure 100% where the market will go. Break or bounce. Breakout or fakeout, trend or reversal.
That's why we have to find the edge, the tendency of the price, like you said, experience plays a big role.
And i am glad you share some of your experience and observation of the market for us.
Thank you
  • #70
  • Dec 18, 2019 6:24pm Dec 18, 2019 6:24pm
Quoting phoenix777
{quote} Thank you for your reply I believe it comes to probability game. We can not be sure 100% where the market will go. Break or bounce. Breakout or fakeout, trend or reversal. That's why we have to find the edge, the tendency of the price, like you said, experience plays a big role. And i am glad you share some of your experience and observation of the market for us. Thank you
You are welcome!
  • #71
  • Dec 19, 2019 5:37am Dec 19, 2019 5:37am
Quoting Skracor247
{quote} Update: {image}
Here is what I am looking at for AUD/USD today.

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  • #72
  • Dec 19, 2019 8:11am Dec 19, 2019 8:11am
Quoting Skracor247
{quote} Here is what I am looking at for AUD/USD today. {image}
Get to know price structure.

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  • #73
  • Edited 1:20pm Dec 19, 2019 12:26pm | Edited 1:20pm
If you are a scalper you are not required to trade in the direction of the Daily trend and you should feel free to trade against the larger trends at will. I am however convinced that most scalper losses are due to areas that are not on their radar.

Here let me lay out a simple trade from the 15m chart. This may be too large a TF for most scalpers but I think it will serve.

In the first chart, you can see where price has made two strong pushes up and I have laid out where I would be a buyer from the 15m perspective with a projection for the price to continue higher. What will happen? Since this is supposed to be an example of failure I am sure you can guess...
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The next chart simply illustrates that there is no third push up continuing with the upward momentum. Instead, price dives putting this trade into deep DD if we have not placed a stop to get us out. Why should the price turn here? We had the momentum and the best bargain price for 15m continuation...

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A quick look at the Daily chart should verify our mistake. The red Daily S/R corresponds to the turn of the price on the 15m. We were only two pushes into the Daily down move.

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If we overlay the Daily level onto our 15m chart we now have a full picture of what happened and why our trade failed. Every timeframe has to encounter the S/R of every timeframe above it. The higher the TF the more likely the level will be respected.

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  • #74
  • Dec 23, 2019 4:53am Dec 23, 2019 4:53am
Quoting Skracor247
{quote} Get to know price structure. {image} {image}
Closed the AUD/USD long for the bank days off ahead. See you all next year.
  • #75
  • Dec 23, 2019 6:17am Dec 23, 2019 6:17am
Quoting Skracor247
{quote} Closed the AUD/USD long for the bank days off ahead. See you all next year.
Thank you for sharing and your thread make sense for me . Wish you a merry Christmas and Happy New year .
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  • #76
  • Dec 23, 2019 9:43am Dec 23, 2019 9:43am
Closed AU, AC long, bought EU, sold UC, still in CF long.
Merry Christmas, everyone.
  • #77
  • Dec 23, 2019 9:48am Dec 23, 2019 9:48am
Quoting newfie4x
Closed AU, AC long, bought EU, sold UC, still in CF long. Merry Christmas, everyone.



Great job man! Congrats on the great trades!
  • #78
  • Dec 23, 2019 3:59pm Dec 23, 2019 3:59pm
Thanks Skracor and Merry Christmas everyone!
  • #79
  • Dec 29, 2019 10:07pm Dec 29, 2019 10:07pm
In simple words, trading is all about financial instruments exchange. Every traders do currency trading to get amazing profit and enhance his capital.

Following are simple steps for how to trade in Forex Market:-

  1. Open a Trading Account with Best Forex Broker
  2. Get sufficient knowledge about Forex Market and Boost your trading skills
  3. Learn to Analyze
  4. Develope Strong trading strategy and Practice trading
  5. Continuous learning and other way to learning as well as practice trading

  • #80
  • Dec 29, 2019 11:29pm Dec 29, 2019 11:29pm
Quoting Skracor247
If you are a scalper you are not required to trade in the direction of the Daily trend and you should feel free to trade against the larger trends at will. I am however convinced that most scalper losses are due to areas that are not on their radar. Here let me lay out a simple trade from the 15m chart. This may be too large a TF for most scalpers but I think it will serve. In the first chart, you can see where price has made two strong pushes up and I have laid out where I would be a buyer from the 15m perspective with a projection for the price...

hello sir, its really nice you want to sharing with us. I have question about how you choose S/R. You only choose Support become Resistance / Resistance become Support as your S/R or the other name of this is Support Resistance Flip (SRF), because i see that you are not marking Support only or Resistance only as you S/R.
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