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Roadmap - A Way To Read Markets

  • #1,121
  • May 3, 2020 5:59pm May 3, 2020 5:59pm
Spent many years lurking (some good content on FF). First thread subscribed to. And first post just to say, thank you, Laura.

Even though the system seems simple, there are so many things here to correct some of my mistakes and keep my emotions in check and picture clear.

And also wanted to say after reading through all 56 pages this weekend, you have an enormously gracious and kind heart.

Karl
  • #1,122
  • May 3, 2020 7:08pm May 3, 2020 7:08pm
Quoting lemercenaire
{quote} No offence was intended. Stick with the method, it's rock solid, just use something nice and Steady-Eddie like EU or whatever to make your bones. Set up a DAX chart somewhere and watch it for day after day and learn how it moves and works. That way, you will be able to recognise the danger signs (as much as you ever can). The DAX is capable of wiping out an account of the unwary in the blink of an eye. Good luck in your trading going forward.
When you answered this, you probably didn't realise I am in Australia. I didn't know it was a public holiday somewhere that might keep the DAX closed. Laura's reply later suggests it was. You're right though, I should be aware of what's happening more. Onwards and upwards.
All you touch and all you see, is all your life will ever be.
  • #1,123
  • May 3, 2020 7:08pm May 3, 2020 7:08pm
For learning purposes. potential short
Attached Image (click to enlarge)
Click to Enlarge Name: potential short UJ.png Size: 60 KB
It is not over until I win
  • #1,124
  • May 3, 2020 7:13pm May 3, 2020 7:13pm
Quoting LauraT
{quote} This is an entirely different indicator, but with same name.
So, that's why. I didn't know there was a holiday somewhere that would keep it closed. It wasn't a holiday here in Oz. For example, here in Queensland, it's Labour Day today, but not in NSW or WA. Confused, me?
All you touch and all you see, is all your life will ever be.
  • #1,125
  • May 3, 2020 7:31pm May 3, 2020 7:31pm
Quoting turnip15
{quote} I'm using Trading View with AMP brokers but cannot find ADR ! :-)
that's hard to believe, well, I believe you can't find it I guess

doesn't mean it's not there

https://www.tradingview.com/scripts/adr/
It takes a lot for me to IGNORE you, but you can try.
  • #1,126
  • May 3, 2020 9:07pm May 3, 2020 9:07pm
Quoting KevinZeng
{quote} It seems that your chart is tradingview picture. Can you share the pine script codes?Thanks.
Hi no its Ctrader
Its all just one persons opinion
  • #1,127
  • May 3, 2020 9:19pm May 3, 2020 9:19pm
Hi LauraT, I really appreciate your kindness which willing to share your strategy, and always patient to give advice on this thread.
Attach is the AUDUSD H1 chart which I see an opportunity to short at the moment, kindly advise.

Besides, I have gone through all the earlier posts, but it seems nobody has asked this question, or apology if I have miss-out. Appreciate you could clarify the questions as follow:
1) Is your trade will avoid certain day, let's says Monday as normally the liquidity is low;
2) Will you trade on Asian hour, for the same reason as above.

Thanks again.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 57 KB
  • #1,128
  • May 3, 2020 9:22pm May 3, 2020 9:22pm
Quoting Erebus
{quote} that's hard to believe, well, I believe you can't find it I guess doesn't mean it's not there https://www.tradingview.com/scripts/adr/
I don't presume to know what turnip is looking for, but Laura uses the SM_ADR Marker indi, which places an adaptive ADR levels on the chart, (as opposed to a squiggly line underneath the chart).

Anyone know of an MT5 version would be great!
Good Trading
  • #1,129
  • May 3, 2020 9:47pm May 3, 2020 9:47pm
Quoting Winner76
Hi LauraT, I really appreciate your kindness which willing to share your strategy, and always patient to give advice on this thread. Attach is the AUDUSD H1 chart which I see an opportunity to short at the moment, kindly advise. Besides, I have gone through all the earlier posts, but it seems nobody has asked this question, or apology if I have miss-out. Appreciate you could clarify the questions as follow: 1) Is your trade will avoid certain day, let's says Monday as normally the liquidity is low; 2) Will you trade on Asian hour, for the...
If I may help,https://www.forexfactory.com/showthr...5#post12902415
It is not over until I win
  • #1,130
  • May 3, 2020 10:02pm May 3, 2020 10:02pm
Quoting karasinga
For learning purposes. potential short {image}
I was watching that, I haven't the price retrace to daily open YET. But it seems to moving in and out of the channel so far, will just have to wait and watch I guess.
  • #1,131
  • May 3, 2020 10:09pm May 3, 2020 10:09pm
Quoting karasinga
{quote} If I may help,https://www.forexfactory.com/showthr...5#post12902415
Thank you so much.

By the way, any thought on the opportunity to short AUDUSD I posted?
  • #1,132
  • Edited 10:57pm May 3, 2020 10:42pm | Edited 10:57pm
Quoting Winner76
{quote} Thank you so much. By the way, any thought on the opportunity to short AUDUSD I posted?
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-05-04_06-22-38.png Size: 76 KB
It is not over until I win
  • #1,133
  • May 3, 2020 11:04pm May 3, 2020 11:04pm
Quoting karasinga
{quote} {image}
Thank you for sharing your point of view
  • #1,134
  • May 4, 2020 1:13am May 4, 2020 1:13am
LauraT

Thank you,for your interesting thread .

I share an indicator histogram 8 EMA Channel VS 200 SMA Channel.

I hope it can help some traders.



Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 81 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 84 KB
Attached File(s)
File Type: ex4 SPH_Ema8_SMA200_Histo.ex4   11 KB | 665 downloads
KISS&V :Keep it simple safe & visual
  • #1,135
  • Edited 1:47am May 4, 2020 1:29am | Edited 1:47am
@Laura, I have 2 questions
1. does the behavior of compRSI affect your decision making? (see attached) How do you handle such scenarios?
2. when market is trading below previous day low (like in this case) what should be the target according to this trading methodology?
Attached Image (click to enlarge)
Click to Enlarge Name: indy query 2.png Size: 46 KB

Attached Image (click to enlarge)
Click to Enlarge Name: indy query.png Size: 45 KB
It is not over until I win
  • #1,136
  • May 4, 2020 1:44am May 4, 2020 1:44am
kindly requesting any coder to code the composite RSI for mt5
Attached File(s)
File Type: mq4 CompRSISelectv2.mq4   2 KB | 392 downloads
In It To Win
  • #1,137
  • May 4, 2020 2:12am May 4, 2020 2:12am
NZDUSD H1 for short. I hope this is correct. Or should I wait for another candle close inside channel?
Attached Image (click to enlarge)
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  • #1,138
  • May 4, 2020 2:15am May 4, 2020 2:15am
Channel trade. Closed at spike on London open.
Attached Image (click to enlarge)
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  • #1,139
  • May 4, 2020 2:23am May 4, 2020 2:23am
Quoting bettervolume
hello LAURA ...thankyou for taking the time and effort to teach us your system we really do appreciate it.I do have a uestion for you regarding crude oil 1 min chart. Do you look at the mtf dashboard or do you ignore it completely for crude oil and just wait for -45 for shrts on rsi ??? And if you do look at the dashboard ..which timeframes do you wanna see red .I am only talking crude oil ...
Hi

I wouldn't say I ignore it completely. If every timeframe except the 1m was green that'd be an obvious issue. There is no ideal pattern but I'd be looking for at least some of the timeframes to be on my side.
  • #1,140
  • May 4, 2020 2:25am May 4, 2020 2:25am
Quoting turnip15
{quote} I'm using Trading View with AMP brokers but cannot find ADR ! For one minute Nasd or Dow -would I need ADR ? I can manually put in yesterdays high/low but not the multi time frame window ( I could use separate charts for that since I only trade one instrument) The big attraction for me, is the way price behaves within the ema channel and reactions off 200 and yesterdays hi/lows. If I am digressing from your approach feel free to hand me my coat :-)
Indices will respect ADR limits much less than currencies will, in my experience. Not having it as a reference point isn't ideal but not a disaster if you have the other elements.
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