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ReadtheMarket - Supply and Demand with Price Action

  • #6,781
  • Aug 18, 2020 3:54am Aug 18, 2020 3:54am
Quoting AhmedYahya
{quote} Hey Quantom always enjoyed your charts,absolutely beautiful this is my thinking in addition the current consecutive tops going lower and lower to the far right of the chart , is always a worry for me as it just pile short orders after short orders, just to be ran over and as always i might be completely wrong {image} {image}
to the pip non the less
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if you can't explain it simply you don't understand it well enough
  • #6,782
  • Aug 18, 2020 4:04am Aug 18, 2020 4:04am
Quoting AhmedYahya
{quote} to the pip non the less {image}
Great
  • #6,783
  • Aug 18, 2020 4:38am Aug 18, 2020 4:38am
Quoting Copis
{quote} look here in M1 you will see a kink in it{image} M1 {image}
This is ICMarkets data feed.

I don't see a hit on a FL. See below images. But I am not sure what your rose color lines are.. Are they from past representing some historic levels? If they are, then yes. It hit a FL.
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  • #6,784
  • Aug 18, 2020 4:40am Aug 18, 2020 4:40am
Quoting Slurpee
{quote} I personally would not consider this an engulf... it FOed to a FL... very nice trick by ITs, they needed to get the price higher... IMHO
Can you please point which FL it FOed to? I am not seeing a FL
  • #6,785
  • Aug 18, 2020 4:59am Aug 18, 2020 4:59am
Quoting fdx
{quote} Can you please point which FL it FOed to? I am not seeing a FL
Its probably because of green rectrangle I marked. On my chart the tiny kink would be somewhere else but the difference is 2 points so it can be actualy the one Copis marked due to broker fed.
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  • #6,786
  • Aug 18, 2020 5:19am Aug 18, 2020 5:19am
Quoting Copis
{quote} look here in M1 you will see a kink in it{image} M1 {image}
yes, it was obvious this level held price up. this one still has room to moving for a while

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  • #6,787
  • Aug 18, 2020 5:58am Aug 18, 2020 5:58am
Quoting fdx
{quote} Can you please point which FL it FOed to? I am not seeing a FL

others already posted it here... this is my chart... It obviously depends on TF you look at it is just my point of view that if price FO like this to even a lower TF FL, it is not an engulf but a FO... just my view, my friend
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Live it or leave it!
  • #6,788
  • Aug 18, 2020 6:38am Aug 18, 2020 6:38am
Quoting KingBruceLee
{quote} Its probably because of green rectrangle I marked. On my chart the tiny kink would be somewhere else but the difference is 2 points so it can be actualy the one Copis marked due to broker fed. {image} {image}
yes. my data feed is similar to yours. Even in your chart, there is a engulf. but anyway it reacted to it. So it is not an engulf.
  • #6,789
  • Aug 18, 2020 6:47am Aug 18, 2020 6:47am
Quoting fdx
{quote} yes. my data feed is similar to yours. Even in your chart, there is a engulf. but anyway it reacted to it. So it is not an engulf.
The thing is that tiny engulfs are not that obvious. For example couple days ago I checked the same trade in around 8 brokers. From that 2 showed the same "final kink" and 6 different one.
  • #6,790
  • Aug 18, 2020 6:54am Aug 18, 2020 6:54am
Quoting KingBruceLee
{quote} The thing is that tiny engulfs are not that obvious. For example couple days ago I checked the same trade in around 8 brokers. From that 2 showed the same "final kink" and 6 different one.
hmm.. better not to trade in LTF then
  • #6,791
  • Aug 18, 2020 7:14am Aug 18, 2020 7:14am
it might have something to do with time frame where expectations should be managed.
eur again in this time frame it breached a kink, but is it an indication? not convincing yet. However, it is still giving a reason to exit.
so managing expectation is advisable once a position is your favour.
chf is the same thing, it have been managed several day to get this far.
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  • #6,792
  • Aug 18, 2020 7:29am Aug 18, 2020 7:29am
Quoting fdx
{quote} hmm.. better not to trade in LTF then
That depends how often do you get this kind "bad ones". I would say its bit riskier but compounding fast is too tempting for me
  • #6,793
  • Aug 18, 2020 8:03am Aug 18, 2020 8:03am
Sadly not triggered.. lots of space after the engulf
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  • #6,794
  • Aug 18, 2020 8:17am Aug 18, 2020 8:17am
Quoting fdx
Sadly not triggered.. lots of space after the engulf {image}
I was watching that level too... But think of it this way... if the price does not hit the target now on its way down, what is this double top there for...?
Live it or leave it!
  • #6,795
  • Aug 18, 2020 8:33am Aug 18, 2020 8:33am
another example regarding FOs and no FOs... just my view
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  • #6,796
  • Aug 18, 2020 9:25am Aug 18, 2020 9:25am
Quoting Slurpee
{quote} I was watching that level too... But think of it this way... if the price does not hit the target now on its way down, what is this double top there for...?
Yep. didnt delete it. Its BSZ
  • #6,797
  • Aug 18, 2020 9:28am Aug 18, 2020 9:28am
Quoting Slurpee
another example regarding FOs and no FOs... just my view {image}
I would consider the lower engulf is of higher scale. And the upper engulf is of lower scale. Price will go up to where it was coming from.. So the upper engulf is a sign that price is going up before it drops down in higher scale
  • #6,798
  • Aug 18, 2020 11:00am Aug 18, 2020 11:00am
LTF ILSK vs HTF ILSK ... I chose the wrong one -1R... Always look at bigger picture if there is something stronger above your entry that could attract ITs...
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  • #6,799
  • Aug 18, 2020 8:16pm Aug 18, 2020 8:16pm
seems usd has been dropping recently across the board, this buy might be a move for the market to cover some short positions.
there are a few levels to watch on its way up, if consumed, would stay for a while, otherwise would exit.
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  • #6,800
  • Aug 19, 2020 2:11am Aug 19, 2020 2:11am
Quoting Slurpee
LTF ILSK vs HTF ILSK ... I chose the wrong one -1R... Always look at bigger picture if there is something stronger above your entry that could attract ITs... {image}

It kind of sucks a little more now...
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