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Price action at the core = family members' discussion project

  • #521
  • Dec 24, 2020 12:53am Dec 24, 2020 12:53am
Quoting Corinna
{quote} Hi Peter, thanks for sharing.


Anytime Corinna. Hope it helps.

Peter
Real Trading is not gambling.
  • #522
  • Dec 24, 2020 1:23am Dec 24, 2020 1:23am
Quoting GearZero
After someday. About my question of which target would be taken out first? No one knows exactly which. And in the end of the day we are just looking hindsight to guess the foresight. That really really long words are empty inside.


If you are replying to what I said - Try to think of it as a big road map and the "price action" or market activity, is the most recent or present "behavior" of what is going on. Your job as a trader re: levels being take out, is to use your road map to understand the behavior that it "leaves behind". And then using this, apply what you could call " the gravity of the chart" to what is happening. If it seems too high/low or 'overextended' then look at the recent or previous behavior to see what your "options" are for what comes next. I understand it can be daunting, so if you go back and look at some of the chart pics I posted, you will see that I used a rectangle to fill the "gap" that the market had created as it moved along. Other people have also posted charts that you can use as a reference and guide. That alone should give a great clue to its behavior and how to "fish" for setups that you feel confident in using. It would also help to create a list of clues that you see repeating. Yes some of this stuff is guessing, but you can become more accurate by practicing and taking notes. It's just time. It takes time to understand how the markets think and behave so you can flow with it.

I don't know if that helps but hopefully it does, at least a little.

Peter
Real Trading is not gambling.
  • #523
  • Dec 25, 2020 12:04am Dec 25, 2020 12:04am
Just losing my brain cells reading someone's posts he has pooped everywhere in this thread. If you feel offended, just reply so we can know you

Merry Christmas, and a Pipful & Profitable new year to everyone

Regards,
Mbae
  • #524
  • Dec 26, 2020 3:00pm Dec 26, 2020 3:00pm
Quoting GearZero
After someday. About my question of which target would be taken out first? No one knows exactly which. And in the end of the day we are just looking hindsight to guess the foresight. That really really long words are empty inside.
The Targets theory works together with the Psychology. If you divorce the 2 you will not know with high probability which targets they might be aiming at. Go through George's podcasts with Djamal and watch again the videos until you can understand what George is saying on the psychology part. Drawing lines, marking Liquidity Gaps and Herd Mentality Validation will not help you if you don't apply the psychology part. Moodybot also posted some useful chart images on the old thread that can assist you. Note the prerequisite to George's theory is to know how to trade.

Perhaps post a chart (live chart) here and tell us what you see on it. I believe this thread was partly created for that - to exchange knowledge on George's theory and anything that can be added.
  • #525
  • Edited 4:25pm Dec 26, 2020 4:13pm | Edited 4:25pm
Quoting GearZero
After someday. About my question of which target would be taken out first? No one knows exactly which. And in the end of the day we are just looking hindsight to guess the foresight. That really really long words are empty inside.
Try this... Follow the Market Structure (HH, HL, etc) or "waves" and observe what happens to price when there is a Market Structure Shift (or break of the pattern) - look at the bars/candles that create the shift; look at the spike (does it create a liquidity gap?); look at the price as it swings back to fill a liquidity gap or fair value if there is any and what it does if there is no gap; look at the opposite side (where the down or up move is coming from and what did it leave there). In all of this bear in mind that a $1 = 100 cents - the market is fractal.

If you have ICT Concepts knowledge background you might understand the picture that I'm painting - that is the displacement (as Michael would say the elephant in the pool; the returning of the price to fill that gap or back to the levels of imbalance as some would say or "Order Block"). This is where it gets interesting when you apply George and Michaels Fib levels (the beauty).

This is just a small part of the puzzle that you can go through and hopefully it can bring some light. Make sure to look at the precision of the market maker. Don't forget the equal Highs or Lows or Liquidity Pools and Herd Mentality Validation as well as the Highs and Lows and the reaction of price at those levels. In all of it think and draw everything that needs to be drawn manually.
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  • #526
  • Dec 26, 2020 4:42pm Dec 26, 2020 4:42pm
Quoting Pumi
{quote} Try this... Follow the Market Structure (HH, HL, etc) or "waves" and observe what happens to price when there is a Market Structure Shift (or break of the pattern) - look at the bars/candles that create the shift; look at the spike (does it create a liquidity gap?); look at the price as it swings back to fill a liquidity gap or fair value if there is any and what it does if there is no gap; look at the opposite side (where the down or up move is coming from and what did it leave there). In all of this bear in mind that a $1 = 100 cents -...
very nicely put pumi
ive sent you a PM
  • #527
  • Dec 26, 2020 5:48pm Dec 26, 2020 5:48pm
Quoting Pumi
{quote} Try this... Follow the Market Structure (HH, HL, etc) or "waves" and observe what happens to price when there is a Market Structure Shift (or break of the pattern) - look at the bars/candles that create the shift; look at the spike (does it create a liquidity gap?); look at the price as it swings back to fill a liquidity gap or fair value if there is any and what it does if there is no gap; look at the opposite side (where the down or up move is coming from and what did it leave there). In all of this bear in mind that a $1 = 100 cents -...
Please can you explain more about displacement, what it is exactly? And why the price not filled the first top fvgap?

Thank you
"Exchange of hands"
  • #528
  • Dec 26, 2020 10:32pm Dec 26, 2020 10:32pm
The bottom line after all is said or done here, use your free time well and study, then review then study more. Then take a break then ask yourself a series of questions that you create that you KNOW are areas of "maybe I understand" and "I definitely do not understand". After you do that a few times you will find out you don't need all the 'names' and 'labels'. All those names and labels just slow a person down. Why? You're not in school anymore, so the teacher is not going to fail you if you name it incorrectly. People need to observe about themself - IF you are spending too much time on the "information" then you are not learning how the market thinks. So it does not matter 1% if you want to "follow" George's or ICT's info. If the information is what you see as most valuable, then you are not building your 'concept building' thinking part of your brain and active thinking. For those who love their opinions instead of real things, YES it is a real thing. It's part of why people fail at something. They lack the balance between concept and information.

So my suggestion is - stop chasing the "right way". PERIOD. Based om my experience - BOTH George and ICT are equally "right" as much as they are wrong. If you are asking people why something happens, but neglect to ask the market first, then that's not learning. Outside people do not know, they summize. That's VERY different.

Trading is about a relationship between you and it. Everything else simply comes down to verification of circumstances. I'm sure this is not what people want to hear or read, but that doesn't matter.

Peter
Real Trading is not gambling.
  • #529
  • Dec 26, 2020 10:51pm Dec 26, 2020 10:51pm
If you try this very simple exercise -

Take George's approach, ICT's and then do some research into some of the most written about "traders". I'm not talking about the names and information, I'm talking about the basic no frills structural, directional and individually positioned involvement in trades. Forget the fanciness and indicators and all the other 'baggage' and get down to bare basics.

THERE, you will see the truth of it. If you practice a trade setup enough THEN try that same trade setup live, you will find out about liquidity, the spread and the market's sentiment and tempo. Where to get in and out. When to stay away. You will also observe other things too about you.

This is all you need. Everything else is just filler. Everything else just clouds the issue of whether you are a trader or something else. If you are a trader then you think about the future not the past but use the past to see NOT what will be but what CAN change. A trading career is built on THIS principle.

"A fool is very quickly removed from their purse and their money because they keep looking behind them and forget to look ahead."

So you can either try and "memorize" everything or you can learn how to trade. It's unpleasant but it's the truth. Call it cruel to be kind.

Peter
Real Trading is not gambling.
  • #530
  • Edited 12:59am Dec 27, 2020 12:41am | Edited 12:59am
Quoting bilal1947
{quote} Please can you explain more about displacement, what it is exactly? And why the price not filled the first top fvgap? Thank you
It is not my intention to introduce ICT Concepts and terminology here. Michael does a perfect job at presenting his work and I will not duplicate it. If one wants to learn more about his concepts you can visit his Youtube channel.

As it seems no one was paying attention to GearZero's question I thought I can give him something to think about, as a start from what he supposed to already know (Market Structure). Hopefully others can help guide him along.

The entry is a little different from what George showed us in the old thread. However I do think it does fit to the "waves" that were introduced in this thread.

Displacement is a terminology that Michael use to describe the event where the market maker silently makes his/her/its (his/he) presence in the room "felt" without being seen. He uses an example of an elephant in the pool. Say you see a kid jumps into the swimming pool just notice how much water splashes-out. Now imagine an elephant does the same thing and notice how much water is splashed-out. You and I are the kid and someone like Warren Buffett is the elephant; the pool and the water is the market and price. Look at what happens to price when the market maker makes his move. Of course the simple example I have shown is just a small piece of the puzzle and he won't make similar obvious moves all the time. Get some clues from his footprints.
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  • #531
  • Dec 27, 2020 1:40am Dec 27, 2020 1:40am
There's about 1000 different theories about the financial markets. A person does not learn by "learning a theory", they learn by learning. To people who want "the answers" you'll never make it as a trader. Not being nasty, just a fact. As someone who trades real money and has done for a long time, the markets don't trade up and down on a theory. They offer the individual, a chance to PROVE a theory. BUT a theory is only as good as its test through time. And MOST of these theories are all built on much much older theorem of the hows and whys. So I am not trying to be "right" here. I am saying that IF bilal1947 and GearZero want to learn properly, I will say this again - you cannot learn this Life skill set known as trading by or through your peers. Why? They are the majority of "don't knows/not sure's" and do not possess real life knowledge over a long enough time to see what is true and not. All this new stuff is just new not true. True is what counts. And what puts money in the bank.

I am very sorry if anyone's feelings are hurt but trading will be very cruel to people who put faith in a theory alone. Quick solutions are the worst. There is no substitute for hard work. To work smart and hard will get you there.

Peter
Real Trading is not gambling.
  • #532
  • Dec 27, 2020 5:18am Dec 27, 2020 5:18am
Quoting Pumi
{quote} Try this... Follow the Market Structure (HH, HL, etc) or "waves" and observe what happens to price when there is a Market Structure Shift (or break of the pattern)
Thankyou very much Pumi. This thread is created by George for the family to help each other with the concept. Lets keep it that way.
I was wondering if some targets are more important than others?, or the targets get stronger over time?, or does the MM have priorities? HH HL method is what i use so far since im not a fan of many indicators.

Im surely going to study your chart, rewatch the podcast, and back to the old thread. Thanks for the light. May it guide us to be a better trader.
  • #533
  • Dec 27, 2020 5:20am Dec 27, 2020 5:20am
Quoting GearZero
{quote} Thankyou very much Pumi. This thread is created by George for the family to help each other with the concept. Lets keep it that way. I was wondering if some targets are more important than others?, or the targets get stronger over time?, or does the MM have priorities? HH HL method is what i use so far since im not a fan of many indicators. Im surely going to study your chart, rewatch the podcast, and back to the old thread. Thanks for the light. May it guide us to be a better trader.
MM purely seek liquidity !
  • #534
  • Dec 27, 2020 7:21am Dec 27, 2020 7:21am
this guy takes retail forex to another level -
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The Equilibrium, a key to success!
  • #535
  • Dec 27, 2020 7:26am Dec 27, 2020 7:26am
Well, I stick to what works for me without bothering about order block, gap, displacement, etc

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And pick up some crumbs that fall from the BIG BOY
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  • #536
  • Dec 27, 2020 7:04pm Dec 27, 2020 7:04pm
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Because it is obvious after the fact.
  • #537
  • Dec 27, 2020 7:49pm Dec 27, 2020 7:49pm
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flip a coin you might have higher probability, than hindsight reporter
  • #538
  • Dec 27, 2020 8:14pm Dec 27, 2020 8:14pm
Quoting failinforex
{image}Because it is obvious after the fact.
Why this?

Double top with fast move down that breaks the start of the initial up move potentially changing trend. Trader should look to sell once 50% of IC candle broken and obvious reversal candle pattern . In this case candle 5 from right, an engulf. Psychology involved would lure traders in to buy!
  • #539
  • Dec 27, 2020 8:18pm Dec 27, 2020 8:18pm
Quoting failinforex
{image}flip a coin you might have higher probability, than hindsight reporter
Bear is not in control. Market maker is.
Classic double move trapping Long/Short traders, that part is correct. The important part of the chart is before the drop out of picture The psychology applied by the market maker to lure in traders to fund the initial move.
  • #540
  • Dec 27, 2020 8:22pm Dec 27, 2020 8:22pm
Quoting moodybot
{quote} Bear is not in control. Market maker is. Classic double move trapping Long/Short traders, that part is correct. The important part of the chart is before the drop out of picture The psychology applied by the market maker to lure in traders to fund the initial move.
Thanks buddy, I do understand that.
Just that now festive season so write some nonsense for fun.
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