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Price action at the core = family members' discussion project

  • #1,361
  • Feb 2, 2021 11:02pm Feb 2, 2021 11:02pm
Quoting OutThere
The only weaknesses and vulnerabilities that I can attribute to the market is that it goes up and down.
This is not the weaknesses or vulnerabilities. It's the characteristic of the enemy. Different from the former.
Know what you trade
  • #1,362
  • Feb 2, 2021 11:05pm Feb 2, 2021 11:05pm
Quoting Merka
OK I will be honest. I don't know my enemy and can't find the weakness on that chart
You are better than those traders who don't even think in this context of weaknesses and vulnerabilities.
You are better because now you are aware of this.

Ask 1000 traders this question, 99.99% don't even understand what you are talking about.

Example of vulnerable. AU is vulnerable.
Attached Image
Know what you trade
  • #1,363
  • Feb 2, 2021 11:11pm Feb 2, 2021 11:11pm
Quoting PeterCaleb
NB - What I am about to show you has nothing to do with "being right or wrong". Speculators 'argue' all day long while value traders get it correct at least 80-90% of the time and bank their profits then go home. They're not at all interested in 'feeble' "I'm right!" ... "No I'm right!" types of this one. This is where stories are useless. You have to decide - Do you want clarification or clarity? I hope this helps. Peter
Hi Peter

I get how you are trading but why except mediocrity.
Looking at your chart, we can to be far more accurate.

3-4 pips is all we need in draw down to stay in a new directional change.

1.. George's Target theory is very good, wouldn't you agree.
2... Volume data out of the Chicago exchange called 6A is accurate for AUDUSD - perhaps you should have a look and be shocked.
3.. Exhaustion is easy to read if you measure expansion ONLY on M1, its the real market where we can see the major players at work.

No guesses, just trade the Order flow wave and wait till its boundary's are destroyed.

Last night on AUDUSD, I took 5 trades - maximum draw down was 0.011%
Attached Image (click to enlarge)
Click to Enlarge Name: AU destroy.jpg Size: 213 KB
Trading thin liquidity at the boundary of the charts
  • #1,364
  • Feb 2, 2021 11:37pm Feb 2, 2021 11:37pm
Here was the Delta as seen on M5
Attached Image (click to enlarge)
Click to Enlarge Name: AU fix.jpg Size: 221 KB
Trading thin liquidity at the boundary of the charts
  • #1,365
  • Feb 2, 2021 11:54pm Feb 2, 2021 11:54pm
Anyone doubt Volume ?
Attached Image (click to enlarge)
Click to Enlarge Name: AU asks and bids.jpg Size: 213 KB
Trading thin liquidity at the boundary of the charts
  • #1,366
  • Feb 3, 2021 12:01am Feb 3, 2021 12:01am
I don't really have to explain this do I?
Attached Image (click to enlarge)
Click to Enlarge Name: AU foot print.jpg Size: 250 KB
Trading thin liquidity at the boundary of the charts
  • #1,367
  • Feb 3, 2021 12:35am Feb 3, 2021 12:35am
Quoting RickM
Here was the Delta as seen on M5 {image}
Hey Rick, what software are you using to see that? I know it's a paid indi, just curious.

Also, I'm seeing volume as being easily deceptive. Granted, I only have tick volume, but hear me out. Here is a AUDUSD M5 chart. Here's what someone could see looking at volumes:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD1.PNG Size: 50 KB

As you see, one can easily be one the wrong side of a trade, and / or miss a trade completely.

Finally, on your chart, couldn't one have been mislead on the previous volume spike that happened just before the one you highlighted?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD3.jpg Size: 178 KB


Thanks,
  • #1,368
  • Feb 3, 2021 12:36am Feb 3, 2021 12:36am
Quoting BWilliam
Another view of peak sell volume. Market vulnerable to buyers stepping in as expected. {image}
BWilliams

Your volume indicator certainly looks useful - what do we all learn from looking at various good volume indicators?

Its the only decent measure of expansion - the correct tool
Trading thin liquidity at the boundary of the charts
  • #1,369
  • Edited 1:00am Feb 3, 2021 12:48am | Edited 1:00am
Quoting Barraka
{quote} Hey Rick, what software are you using to see that? I know it's a paid indi, just curious. Also, I'm seeing volume as being easily deceptive. Granted, I only have tick volume, but hear me out. Here is a AUDUSD M5 chart. Here's what someone could see looking at volumes: {image} As you see, one can easily be one the wrong side of a trade, and / or miss a trade completely. Finally, on your chart, couldn't one have been mislead on the previous volume spike that happened just before the one you highlighted? {image} Thanks,
Hi Barraka

If you use Tick volume for trading, I suggest you just stick to M30. This seems to be the sweet spot for tick volume on MT4.
Have a look.

As for the second chart - WHERE IS GEORGE'S TARGET
But back to your point, I trade every single expansion on AUDUSD when price moves about 8 pips from its core frequency. So that is a trade I actually took anyway.

Just Buy all expansion moves in a bearish market when it moves 8 pips from central density PROVIDED volume stalls - its that easy.
So this way we will Buy it all the way down and Sell it all the way up in anywhere from 15-30 trades per pair per session.

Have a look at AUDUSD right now. The first two moves went - 9 pips. That is a Sell and take profit. Take another Sell and another profit.

Here is the key point, it moves on average 8 pips on every move. Yesterday, any day last year and tomorrow it will be the same - 8 pips.
Why, because its a Single Frequency variable amplitude wave

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 9 down 2.jpg Size: 167 KB
Trading thin liquidity at the boundary of the charts
  • #1,370
  • Feb 3, 2021 12:50am Feb 3, 2021 12:50am
Quoting OutThere
You can see it the way you want to suit your mindset but when a currency goes up, it does it because of the strength of it wanting to go up and when it goes down, it does it because of the strength of it wanting to go down. Your reaction to these moves is the one subject of judgement for being strong or weak. "Markets are never wrong, only opinions are." Jesse Livermore
Your opponent move in the ring dancing left to right then left, is there weakness ? No, that's the characteristic of fighting.
Same with market moving up or down is the characteristic of price movement(dancing), nothing abnormal to offer any advantage.
Know what you trade
  • #1,371
  • Feb 3, 2021 1:12am Feb 3, 2021 1:12am
Quoting OutThere
You can see it the way you want to suit your mindset but when a currency goes up, it does it because of the strength of it wanting to go up and when it goes down, it does it because of the strength of it wanting to go down. Your reaction to these moves is the one subject of judgement for being strong or weak. "Markets are never wrong, only opinions are." Jesse Livermore
I posted earlier AU is an example of vulnerable. So we wait for price to throw a punch then we move by clicking the enter button with preset sl and tp. Opponent(price) react as expected. But we chose the best paying opponent to get the best payout. So bet on GU instead. Time to collect the 25pips payment. Still have time to post on forum as well except entry not so accurate.

https://www.forexfactory.com/thread/...7#post13391667
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au1.png Size: 13 KB
Click to Enlarge Name: gu1.png Size: 13 KB
Know what you trade
  • #1,372
  • Feb 3, 2021 1:17am Feb 3, 2021 1:17am
Hi RickM and BWilliam, can you folks share those volume indicators of yours please?
Thank you.
  • #1,373
  • Feb 3, 2021 1:33am Feb 3, 2021 1:33am
Quoting BWilliam
So we wait for price to throw a punch then we move by clicking the enter button with preset sl and tp. Opponent(price) react as expected. But we chose the best paying opponent to get the best payout. So bet on GU instead.
Attached Image (click to enlarge)
Click to Enlarge Name: XleyEK9.png Size: 6 KB


my foot soldier received a light slap and I return with a punch and off I went for a massage.
  • #1,374
  • Feb 3, 2021 1:35am Feb 3, 2021 1:35am
Quoting jojofx
Hi RickM and BWilliam, can you folks share those volume indicators of yours please? Thank you.
Hi, I don't take trades based on the volume indicator. I never make trades based on indicators. Indicator are tools to tell you about the price condition that's all.

You have to learn about market structure based on the books posted on Bilal's thread. Learn that knowledge is worth a million times more valuable than magic indicators. Once you have gained proper knowledge of market structure then you proceed next level to think in terms of price weakness and vulnerability. Trade that. Market will spill pips to you due to it's weakness and vulnerability.
Know what you trade
  • #1,375
  • Feb 3, 2021 1:36am Feb 3, 2021 1:36am
Quoting moodybot
{quote} Very good, however the forum has sponsors/advertisers so at a certain point a cooling off may be required. To you they are just trash, that’s fine, to others they are human beings. But it’s good to know who has respect on here and who doesn’t. And just FYI i did not suspend him.
I am always amused by people getting hurt by words which has no lethal quality. Can't cause even a small scratch on the body. Getting trained as a punching bag does need a lot of mind training and patience. Trader has to grapple with market noise in his mind. On top of why are so many people waginh war of words?
Practice makes a person perfect
  • #1,376
  • Feb 3, 2021 1:37am Feb 3, 2021 1:37am
Quoting moodybot
{quote} Very good, however the forum has sponsors/advertisers so at a certain point a cooling off may be required. To you they are just trash, that’s fine, to others they are human beings. But it’s good to know who has respect on here and who doesn’t. And just FYI i did not suspend him.
I am always amused by people getting hurt by words which has no lethal quality. Can't cause even a small scratch on the body. Getting trained as a punching bag does need a lot of mind training and patience. Trader has to grapple with market noise in his mind. On top of why are so many people waging war of words?
Practice makes a person perfect
  • #1,377
  • Feb 3, 2021 1:44am Feb 3, 2021 1:44am
Quoting BWilliam
{quote} Hi, I don't take trades based on the volume indicator. I never make trades based on indicators. Indicator are tools to tell you about the price condition that's all. You have to learn about market structure based on the books posted on Bilal's thread. Learn that knowledge is worth a million times more valuable than magic indicators. Once you have gained proper knowledge of market structure then you proceed next level to think in terms of price weakness and vulnerability. Trade that. Market will spill pips to you due to it's weakness and...
No offense mate but i didn't ask you to teach me how to trade. I just wanted you to share that indicator. Nevermind, forget i asked.
  • #1,378
  • Feb 3, 2021 1:55am Feb 3, 2021 1:55am
Quoting RickM
{quote} Hi Barraka If you use Tick volume for trading, I suggest you just stick to M30. This seems to be the sweet spot for tick volume on MT4. Have a look. As for the second chart - WHERE IS GEORGE'S TARGET But back to your point, I trade every single expansion on AUDUSD when price moves about 8 pips from its core frequency. So that is a trade I actually took anyway. Just Buy all expansion moves in a bearish market when it moves 8 pips from central density PROVIDED volume stalls - its that easy. So this way we will Buy it all the way down and Sell...
It's interesting you talk about AUDUSD moving on average 8 pips from its core frequency. Because my stats also show exactly 8 pips as an average move. Except, on my side it's the size of an average M1 swing or leg.

Still, something I found confusing in what you said: You take longs on a bear market (like AUDUSD) on certain moves; But then you talk about sells. Do you wait for a 8pips move down to the go long, or the other way around?

Attached Image (click to enlarge)
Click to Enlarge Name: AUQ.jpg Size: 192 KB
  • #1,379
  • Feb 3, 2021 2:13am Feb 3, 2021 2:13am
Quoting simnz
{quote} I am always amused by people getting hurt by words which has no lethal quality. Can't cause even a small scratch on the body. Getting trained as a punching bag does need a lot of mind training and patience. Trader has to grapple with market noise in his mind. On top of why are so many people waging war of words?
One person who frequented trading forums, including this one, had a run in with other traders.
That dude flipped out in the most alarming way.
Did he flip through mental issues? Possibly.
Did he flip through continuous arguments with traders? Who knows, but he’s doing time now, life, so I absolutely disagree with you.
  • #1,380
  • Feb 3, 2021 2:55am Feb 3, 2021 2:55am
Quoting BWilliam
{quote} I posted earlier AU is an example of vulnerable. So we wait for price to throw a punch then we move by clicking the enter button with preset sl and tp. Opponent(price) react as expected. But we chose the best paying opponent to get the best payout. So bet on GU instead. Time to collect the 25pips payment. Still have time to post on forum as well except entry not so accurate. https://www.forexfactory.com/thread/...7#post13391667 {image} {image}
Nice call.
You are for sure someone that knows what he is doing in this business.
Thanks
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