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ReadtheMarket - Supply and Demand with Price Action

  • #6,961
  • Sep 24, 2020 3:39am Sep 24, 2020 3:39am
Quoting mvf
{quote} every trade is actually a touch trade by setting a limit order. We don't really sit in front of screen watching movement all the time. we fail often. we come out of failure and move on. when a level is determined for a limit order, there must be a reason to do so. trust yourself but cautiously, this is why you set a stop. if it turns out a failure, wait or find another set up and you still have a good reason to do so, because chart reading is not science. The only thing to do is to manage your expectations. like this one UC, price did not...
i have this problem with origin-fl.. i dont knw where to take a trade from...you are so good at taking trades, what gives you confidnce at thoselevels
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  • #6,962
  • Sep 24, 2020 4:50am Sep 24, 2020 4:50am
Quoting AnonymousGee
{quote} i have this problem with origin-fl.. i dont knw where to take a trade from...you are so good at taking trades, what gives you confidnce at thoselevels {image}
It happens to me quite often as well. I might be wrong but I think that if there is small kink connected to the FL, then SL should be placed above it ( it works like CP ). In your case there was fresh zone above. I'm not sure if there was confirmation on that scale though.
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  • #6,963
  • Sep 24, 2020 10:04am Sep 24, 2020 10:04am
Quoting KingBruceLee
{quote} It happens to me quite often as well. I might be wrong but I think that if there is small kink connected to the FL, then SL should be placed above it ( it works like CP ). In your case there was fresh zone above. I'm not sure if there was confirmation on that scale though. {image}
so what allowed price to bounce from that fresh kink in 10s?
  • #6,964
  • Sep 24, 2020 10:58am Sep 24, 2020 10:58am
Quoting AnonymousGee
{quote} i have this problem with origin-fl.. i dont knw where to take a trade from...you are so good at taking trades, what gives you confidnce at thoselevels {image}
when we place an order, we don't do it blindly and we do have a good reason. From hindsight, there could be ton of explanations to indicate your failure and lead to more confusion. there are two areas in the chart.

1. the area of your entry. your entry was at the sell level. it just did not took off in your favor, but against your favor instead. In the even lower time frame, your sell could yield huge gain. Unfortunately we don't have even lower time frame, nor is it necessary.

2. you also have a good reason to place your stop. what if you did not put a stop at all? what is you move your stop a bit higher?

There is no wrong reading or right reading until hindsight proves it. so long you place an order with a good reason, you should be confident. time will tell you if it is winner or loser. we will have a lot losers in a row, just try to minimize the loss. You will have a winner.
  • #6,965
  • Sep 24, 2020 2:46pm Sep 24, 2020 2:46pm
Quoting AnonymousGee
{quote} so what allowed price to bounce from that fresh kink in 10s?
Orders?
People here often repeated that PA is the same across ALL TFs. It may be not visible on m1 but it does not mean it's not there.
PrinceCharm: "First, you must understand order flow as a whole along with fractals. In laymen’s terms, it’s simply an engulf of a FL. With that said, there needs to be a FTB for every engulf but for the important ones. Once you’ve reversed this concept (it’s everywhere) you’ll see where to find “clean” orders. The engulf IS the confirmation. Therefore you can touch trade every important FL that’s clean."
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  • #6,966
  • Sep 24, 2020 10:32pm Sep 24, 2020 10:32pm
Quoting mvf
{quote} when we place an order, we don't do it blindly and we do have a good reason. From hindsight, there could be ton of explanations to indicate your failure and lead to more confusion. there are two areas in the chart. 1. the area of your entry. your entry was at the sell level. it just did not took off in your favor, but against your favor instead. In the even lower time frame, your sell could yield huge gain. Unfortunately we don't have even lower time frame, nor is it necessary. 2. you also have a good reason to place your stop. what if you...
thank you man for ur explanation..
  • #6,967
  • Sep 24, 2020 10:47pm Sep 24, 2020 10:47pm
Quoting KingBruceLee
{quote} Orders? People here often repeated that PA is the same across ALL TFs. It may be not visible on m1 but it does not mean it's not there. PrinceCharm: "First, you must understand order flow as a whole along with fractals. In laymen’s terms, it’s simply an engulf of a FL. With that said, there needs to be a FTB for every engulf but for the important ones. Once you’ve reversed this concept (it’s everywhere) you’ll see where to find “clean” orders. The engulf IS the confirmation. Therefore you can touch trade every important FL that’s clean."...
Thank you King. as you said that PA is the same across all scales i just wanted to know why price bounced there if there was no PA
  • #6,968
  • Sep 25, 2020 12:03am Sep 25, 2020 12:03am
Quoting AnonymousGee
{quote} Thank you King. as you said that PA is the same across all scales i just wanted to know why price bounced there if there was no PA
https://www.forexfactory.com/thread/post/13066604#post13066604

.
some great guys on the forum shared their thoughts.
you might also want to read this post again and again. it was similar to your chart and see if you could make sense out of it.
Market repeats the same or similar pattern all the time.
  • #6,969
  • Sep 25, 2020 1:49am Sep 25, 2020 1:49am
Quoting mvf
{quote} https://www.forexfactory.com/thread/post/13066604#post13066604 . some great guys on the forum shared their thoughts. you might also want to read this post again and again. it was similar to your chart and see if you could make sense out of it. Market repeats the same or similar pattern all the time.
thanks again...some concepts have to be learnt repeatedly untill well understood...i think its what IF said years ago, we must be sure if the fl we are reacting to has touched the ordres above/below otherwise we should expect a FO.
  • #6,970
  • Sep 25, 2020 8:09am Sep 25, 2020 8:09am
Quoting AnonymousGee
{quote} thanks again...some concepts have to be learnt repeatedly untill well understood...i think its what IF said years ago, we must be sure if the fl we are reacting to has touched the ordres above/below otherwise we should expect a FO.
we will have tons of losers, we also will have winners. in this game, when winners outrun losers, we win.
like this one, it seems to be a winner, but from tight stop expectation, it was actually a loser due to wide stop. from target point view, it was a loser again, because it did not get exit at the target level, is that a target level?.

isn't it a familiar pattern to get entry? just want to show this kind of things happening all the time. at this point in this time frame, where is price heading? don't know. however, chart shows there are still more orders up, should we get out right now? everyone might have different views. there is no wrong or right view, just the one that best suits you.

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  • #6,971
  • Sep 25, 2020 3:07pm Sep 25, 2020 3:07pm
Quoting mvf
{quote} every trade is actually a touch trade by setting a limit order. We don't really sit in front of screen watching movement all the time. we fail often. we come out of failure and move on. when a level is determined for a limit order, there must be a reason to do so. trust yourself but cautiously, this is why you set a stop. if it turns out a failure, wait or find another set up and you still have a good reason to do so, because chart reading is not science. The only thing to do is to manage your expectations. like this one UC, price did not...
Thank you MVF
  • #6,972
  • Sep 25, 2020 11:43pm Sep 25, 2020 11:43pm
Quoting mvf
{quote} we will have tons of losers, we also will have winners. in this game, when winners outrun losers, we win. like this one, it seems to be a winner, but from tight stop expectation, it was actually a loser due to wide stop. from target point view, it was a loser again, because it did not get exit at the target level, is that a target level?. isn't it a familiar pattern to get entry? just want to show this kind of things happening all the time. at this point in this time frame, where is price heading? don't know. however, chart shows there are...
the same scenario salivan was talking about, the relation between engulfing of a FL and coming back to the origin is what gets me confused. where is the origin?, what makes price travel back to the origin and sometimes not
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  • #6,973
  • Sep 26, 2020 9:22am Sep 26, 2020 9:22am
Quoting mvf
{quote} https://www.forexfactory.com/thread/post/13066604#post13066604 . some great guys on the forum shared their thoughts. you might also want to read this post again and again. it was similar to your chart and see if you could make sense out of it. Market repeats the same or similar pattern all the time.
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just my 2 cents..
this was an long opportunity rather than short....
  • #6,974
  • Sep 26, 2020 12:30pm Sep 26, 2020 12:30pm
Quoting gembel
{quote} {image} just my 2 cents.. this was an long opportunity rather than short....
nice read. very interesting PA, lots of stop hunting and signs of intention. They had a big order to fill before moving ready to move price up

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RIP RTM - long live Nonsense Trading
  • #6,975
  • Sep 26, 2020 2:20pm Sep 26, 2020 2:20pm
Quoting AnonymousGee
{quote} the same scenario salivan was talking about, the relation between engulfing of a FL and coming back to the origin is what gets me confused. where is the origin?, what makes price travel back to the origin and sometimes not {image}
engulf, ftr... are descriptions of price movements. engulf tells you that orders at the level have been depleted, but only at that specific level. the space right below/above still have orders which cause retrace once engulf is in place.

as for origin, it is also a description for this specific price movement. On the first page, IF clearly described how origin was formed. read that piece and apply it to all your own charts.

just remember every every one of us on this forum might conclude a different view from chart reading all based on the same concepts. until hindsight proves our reading, we don't know if it could turns out to be a winner or loser. However, we need to have some confidence in our readings and decisions. if it turns to be a loser, cut it short in no time. if it turns to be a winner, let it run to your own set target and accept it, even if the price shoots to the sun afterwards.

if we have several losers in a row, don't blame this method, because you do have winners sometime. look at your winners again and again and again like your baby, to give yourself a rock hard convincing conclusion why you took that trade. over the time, you build up a mindset.
  • #6,976
  • Sep 26, 2020 2:38pm Sep 26, 2020 2:38pm
engulf and target can be looked at relatively. so tradeable.

the red box shows origin, so there is sell
the green box shows a engulf, so there is long at the bottom.

If you conclude it is an engulf, what do you think of price movement once it gets to engulf level?

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  • #6,977
  • Sep 27, 2020 7:06am Sep 27, 2020 7:06am
Quoting AnonymousGee
{quote} the same scenario salivan was talking about, the relation between engulfing of a FL and coming back to the origin is what gets me confused. where is the origin?, what makes price travel back to the origin and sometimes not {image}
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  • #6,978
  • Sep 27, 2020 11:39pm Sep 27, 2020 11:39pm
nu held over weekend and is inching close to set target. the same target might be also an entry for sell.

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  • #6,979
  • Sep 27, 2020 11:53pm Sep 27, 2020 11:53pm
a weekend chart reading was also a good exercise where we could apply all the concepts we learned here.
without real transactions, we don't have psychological burden
sometime the result is satisfactory. but once we get into real trade, everything could be different

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  • #6,980
  • Sep 28, 2020 12:03am Sep 28, 2020 12:03am
Quoting mvf
{quote} engulf, ftr... are descriptions of price movements. engulf tells you that orders at the level have been depleted, but only at that specific level. the space right below/above still have orders which cause retrace once engulf is in place. as for origin, it is also a description for this specific price movement. On the first page, IF clearly described how origin was formed. read that piece and apply it to all your own charts. just remember every every one of us on this forum might conclude a different view from chart reading all based on the...
thanks mvf,,, i want to understand the concepts of FL, ORIGIN AND ENGULF in full, i see them as the core building blocks of everything
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