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ReadtheMarket - Supply and Demand with Price Action

  • #5,941
  • Mar 20, 2020 7:59pm Mar 20, 2020 7:59pm
Quoting beefStew
I have a question if anybody can give some advice here.. So there was an engulf below on GBPJPY, i thought the engulf came from green FL, and its origin has been reached. I thought then price would go to LSK below that green FL origin before coming down again and hit tg. But apparently price went up further and i definitely got the FL from the wrong scale. Now there is 2 more possible FL which price came from (yellow and white). How do i avoid picking the wrong scale again?
The Engulf you marked hit its TG once engulfed, there was no usable space after the engulf. There is a Pre compression target it runs straight into on that scale
There is no reason it needs to go any further south unless there is an engulf into space with an unmet target. Any trades from that FL you leaned on would need to be taken with lower scale PA confirmation
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  • #5,942
  • Mar 21, 2020 1:44am Mar 21, 2020 1:44am
Quoting MrMacphisto
{quote} The Engulf you marked hit its TG once engulfed, there was no usable space after the engulf. There is a Pre compression target it runs straight into on that scale There is no reason it needs to go any further south unless there is an engulf into space with an unmet target. Any trades from that FL you leaned on would need to be taken with lower scale PA confirmation {image}
Ah i see. Thanks man!
EDIT: lets say we had an engulf into space below. Where would you entered a trade?
Ask, and it is given. Every single time, no exceptions.
  • #5,943
  • Mar 21, 2020 3:22am Mar 21, 2020 3:22am
Quoting MrMacphisto
{quote} The Engulf you marked hit its TG once engulfed, there was no usable space after the engulf. There is a Pre compression target it runs straight into on that scale There is no reason it needs to go any further south unless there is an engulf into space with an unmet target. Any trades from that FL you leaned on would need to be taken with lower scale PA confirmation {image}

Man, it didnt reverse from that kink.

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How about ignored key level ?

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  • #5,944
  • Mar 21, 2020 5:33am Mar 21, 2020 5:33am
Quoting Tj1
{quote} Man, it didnt reverse from that kink. {image} {image} How about ignored key level ? {image}
My minimum TF is M1, so my mistake was i should have taken the whole candle as the FL so there is no engulf.
I knew this but i tried to forcefit the engulf.
Thanks, TJ
Ask, and it is given. Every single time, no exceptions.
  • #5,945
  • Edited 7:26am Mar 21, 2020 7:11am | Edited 7:26am
Quoting Tj1
{quote} Man, it didnt reverse from that kink. {image} {image} How about ignored key level ?
Hey TJ, sorry what I meant to say was after the PCP a new area formed
the new LFL body range is just shy on my feed however , the new FLs would extend due to the mouth. (do u have tick chart to check for me lol-just kidding.. I will stop being lazy and check) . I cant go any lower on Mt4 (may need to use ctrader again) so I have to assume that once price engulfed the area Beef showed, it was a non-usable engulf.

I see you drew, a hidden area which did hold down price. It acted as a FL in the relevant scale to the So it looks like a good FL.

Its fine to disagree and I always am making mistakes (in fact my area I drew in my last chart needs to shift a tiny bit - but it's still bouncing from an FL created after break into PCP rendering the engulf useless ( at least by my analysis )

Regarding ignored, I see the 418 level which held down the price as bouncing and being used as opposed to ignored. so its only the next kink which is also a new LFL.either way there is no space at the engulf. There are target areas and FLs stacked all around there.

As I said its only my take. Either way good to chat about it and I enjoy yourposts cheers
  • #5,946
  • Mar 21, 2020 8:14am Mar 21, 2020 8:14am
Quoting beefStew
{quote} My minimum TF is M1, so my mistake was i should have taken the whole candle as the FL so there is no engulf. I knew this but i tried to forcefit the engulf. Thanks, TJ

Man not a day goes by when I DONT force fit a engulf lol...
I have to triple check myself. and then If im not convinced I ere on the side of caution.

We all do it
  • #5,947
  • Mar 21, 2020 1:40pm Mar 21, 2020 1:40pm
Quoting MrMacphisto
{quote} Man not a day goes by when I DONT force fit a engulf lol... I have to triple check myself. and then If im not convinced I ere on the side of caution. We all do it
I know!
I should learn to take clearer setups too.
Ask, and it is given. Every single time, no exceptions.
  • #5,948
  • Edited Mar 23, 2020 11:14am Mar 22, 2020 10:08pm | Edited Mar 23, 2020 11:14am
I will try to post setups that i will take. Maybe it will force me to pick better quality setups.
I will edit and add charts as i go to not flood the thread.
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SL hit

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TP reached

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SL hit, then i reentered and TP hit

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TP hit

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Ask, and it is given. Every single time, no exceptions.
  • #5,949
  • Mar 23, 2020 4:09am Mar 23, 2020 4:09am
Quoting beefStew
I have a question if anybody can give some advice here.. So there was an engulf below on GBPJPY, i thought the engulf came from green FL, and its origin has been reached. I thought then price would go to LSK below that green FL origin before coming down again and hit tg. But apparently price went up further and i definitely got the FL from the wrong scale. Now there is 2 more possible FL which price came from (yellow and white). How do i avoid picking the wrong scale again? {image}
it looks like an engulf to me, we'll see what happens

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RIP RTM - long live Nonsense Trading
  • #5,950
  • Mar 24, 2020 2:23am Mar 24, 2020 2:23am
Just different with what I am thinking but yeah nice.
RIP RTM
  • #5,951
  • Mar 24, 2020 7:53am Mar 24, 2020 7:53am
Today's trade
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entered on wrong zone, so my SL was hit. But i reentered above after the big spike down and retraced. TP reached

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SL hit too, reentered below and reached TP

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moved SL to BE and kicked out
Ask, and it is given. Every single time, no exceptions.
  • #5,952
  • Edited 1:07pm Mar 24, 2020 10:21am | Edited 1:07pm
Quoting beefStew
Today's trade {image} {image}entered on wrong zone, so my SL was hit. But i reentered above after the big spike down and retraced. TP reached {image}SL hit too, reentered below and reached TP {image}moved SL to BE and kicked out
If your SL got hit many times then...
You need more than that, BS.
RIP RTM
  • #5,953
  • Mar 24, 2020 2:23pm Mar 24, 2020 2:23pm
Quoting beefStew
Today's trade {image} {image}entered on wrong zone, so my SL was hit. But i reentered above after the big spike down and retraced. TP reached {image}SL hit too, reentered below and reached TP {image}moved SL to BE and kicked out
Pay attention to FOF LS :
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  • #5,954
  • Mar 24, 2020 8:18pm Mar 24, 2020 8:18pm
Quoting Tj1
{quote} Pay attention to FOF LS : {image}
But sometimes, I guess it doesn't work .....
Have you trade it but fail?
Cause I have.
RIP RTM
  • #5,955
  • Mar 24, 2020 11:50pm Mar 24, 2020 11:50pm
Quoting Tj1
{quote} Pay attention to FOF LS : {image}
TJ,
My thought process was like this. Where i got it wrong?
- i tried to imitate your post about finding LSK. Pick the FL that broke FL on its left and the opposite is the LS.
- i considered the LSK you marked but it was touched so i thought the orders has been taken. It is clear now that there still orders left in it
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Ask, and it is given. Every single time, no exceptions.
  • #5,956
  • Mar 25, 2020 12:48am Mar 25, 2020 12:48am
Quoting beefStew
{quote} TJ, My thought process was like this. Where i got it wrong? - i tried to imitate your post about finding LSK. Pick the FL that broke FL on its left and the opposite is the LS. - i considered the LSK you marked but it was touched so i thought the orders has been taken. It is clear now that there still orders left in it {image}
Need engulf first to consume that LSK.
But not sure this way is a workable method.
RIP RTM
  • #5,957
  • Mar 25, 2020 2:13am Mar 25, 2020 2:13am
No offense guys,
But what you think is RTM I am pretty sure is not RTM.
Ofcourse it happens by RS and SD understanding. Make you fail and fall far far away from the method itself.

But there is good news guys.
A new hope for us....
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RIP RTM
  • #5,958
  • Edited 9:12am Mar 25, 2020 2:54am | Edited 9:12am
Today's trade
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Ask, and it is given. Every single time, no exceptions.
  • #5,959
  • Mar 25, 2020 2:57am Mar 25, 2020 2:57am
Quoting beefStew
Today's trade {image}
Looks good man.
RIP RTM
  • #5,960
  • Mar 25, 2020 11:40am Mar 25, 2020 11:40am
Quoting hendzwoter
No offense guys, But what you think is RTM I am pretty sure is not RTM. Ofcourse it happens by RS and SD understanding. Make you fail and fall far far away from the method itself. But there is good news guys. A new hope for us.... {image}
can you post the link to this web page?
thanks
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