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(binned per thread starter’s request) My Way Of Price Level Analy

  • #2,901
  • Aug 4, 2021 4:35am Aug 4, 2021 4:35am
Quoting TraderR0N
How is everyone trading this week?
Not too bad, nearly 1% gain so far. Not as much as yours but hope I can get there too one day
  • #2,902
  • Aug 4, 2021 4:47am Aug 4, 2021 4:47am
Quoting bruderx
{quote} Not too bad, nearly 1% gain so far. Not as much as yours but hope I can get there too one day
Thanks Bruderx. It is always better then zero. I’m sure you will get there one day. Everyone will have a chance.

Chance and opportunities don’t always come by. Have to grab it when there’s chance or opportunities.
10% buy 10% sell 80% waiting
  • #2,903
  • Aug 4, 2021 4:55am Aug 4, 2021 4:55am
Quoting bruderx
{quote} Not too bad, nearly 1% gain so far. Not as much as yours but hope I can get there too one day
Feel free to ask me if there’s anything in mind. If I can help I will help… I can see that you’re serious trading the market than the rest which I respect that for you.

Keep it up. Don’t care about size first. Master the game well will be the most important than making money first. When you have master it, your results will come and surprise you and that is the day that you will be telling yourself you have make it.

Happiest moment.
10% buy 10% sell 80% waiting
  • #2,904
  • Aug 4, 2021 5:36am Aug 4, 2021 5:36am
Quoting TraderR0N
Good day all. After results when Bought NZDJPY target reached. I will show everything. Happy trading. Good luck and stay green. {image}
Results after closing buy trade for AUDJPY, GBPJPY and GBPCHF.
Attached Image (click to enlarge)
Click to Enlarge Name: 16686BCF-D526-4800-A7D5-5FE1989E3D34.jpeg Size: 2.9 MB
10% buy 10% sell 80% waiting
  • #2,905
  • Aug 4, 2021 5:58am Aug 4, 2021 5:58am
Quoting TraderR0N
{quote} Feel free to ask me if there’s anything in mind. If I can help I will help… I can see that you’re serious trading the market than the rest which I respect that for you. Keep it up. Don’t care about size first. Master the game well will be the most important than making money first. When you have master it, your results will come and surprise you and that is the day that you will be telling yourself you have make it. Happiest moment.
Hi Ron, do you use zigzag indicator? I usually use it with default setting (12,5) on 4hr TF. It helps me to visualize swings.
  • #2,906
  • Aug 4, 2021 6:04am Aug 4, 2021 6:04am
Quoting bruderx
{quote} Hi Ron, do you use zigzag indicator? I usually use it with default setting (12,5) on 4hr TF. It helps me to visualize swings.
Yes 12,5,3 is the default setting. Oh please don’t use that. Heavily repaint when it reaches high or it can also goes into another high or another high by the time it has reached 100 + pips lol…

I trade waves and some tools to confluence my trades levels setup. To me entries are important. That is me.
10% buy 10% sell 80% waiting
  • #2,907
  • Aug 4, 2021 6:07am Aug 4, 2021 6:07am
It is my dinner time.
Time to eat. Wife calling.
10% buy 10% sell 80% waiting
  • #2,908
  • Aug 4, 2021 7:06am Aug 4, 2021 7:06am
Quoting TraderR0N
It is my dinner time. Time to eat. Wife calling.
Back after my dinner!
10% buy 10% sell 80% waiting
  • #2,909
  • Aug 4, 2021 7:10am Aug 4, 2021 7:10am
Successful traders strongly believe that
1. You don’t need to know what’s going to happen next to make money.
2. Anything can happen.
3. Every moment is unique, meaning every edge and outcome is truly a unique experience.

When fear of losing dissipates, you will see and experience a different market because you will be a different trader.
It's as if someone removes blinders from your eyes which you didn't know existed.

Cheers.
10% buy 10% sell 80% waiting
  • #2,910
  • Aug 4, 2021 7:46am Aug 4, 2021 7:46am
Quoting TraderR0N
{quote} Yes 12,5,3 is the default setting. Oh please don’t use that. Heavily repaint when it reaches high or it can also goes into another high or another high by the time it has reached 100 + pips lol… I trade waves and some tools to confluence my trades levels setup. To me entries are important. That is me.
I don't use zigzag for entry signal, I know it repaints. I use it only to identity previous swing highs and lows, length of swings in a systematic way, which points are already fixed, support/resistance levels.
At the moment I use the Williams%R indicator and its 20 MA cross for entry (got the idea from Jailbreak thread) mainly on 4hr TF, sometimes on 1hr. I noticed that by the time MA reaches the oversold/overbought area price streches quite a lot and chance of a reversion is higher. I also noticed that if it happens around a previous high/low support/resistance (look left) chances are even higher. If price goes against me I don't close it immediately, I wait for another chance to return and add more to my position so I can average it out. As I trade small lots 100 pips DD is still managable. So that's what I am doing at the moment.
Ron, do you think it makes sense?
  • #2,911
  • Aug 4, 2021 7:56am Aug 4, 2021 7:56am
E.g this one NZDCAD. Price is getting closer to previous resistance of 0.8911. WR% already overbought, 20 MA also getting closer to the overbought area. So I watch this pair for possible short. I also use weekly pivot lines mainly to set TP levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210804-145031_TradingView.jpg Size: 285 KB
  • #2,912
  • Aug 4, 2021 8:02am Aug 4, 2021 8:02am
Longed Gbpusd
  • #2,913
  • Aug 4, 2021 8:09am Aug 4, 2021 8:09am
Longed nzdusd
  • #2,914
  • Aug 4, 2021 8:13am Aug 4, 2021 8:13am
Closing nzdusd, waiting to short, upward momentum wained
  • #2,915
  • Aug 4, 2021 8:58am Aug 4, 2021 8:58am
Shorting nzdusd
  • #2,916
  • Aug 4, 2021 9:59am Aug 4, 2021 9:59am
Shorting usdjpy
  • #2,917
  • Aug 4, 2021 10:05am Aug 4, 2021 10:05am
Closing position. Going long
  • #2,918
  • Aug 4, 2021 10:07am Aug 4, 2021 10:07am
109.480 support/ resistance for this cross
  • #2,919
  • Aug 4, 2021 10:11am Aug 4, 2021 10:11am
Closing position. Waiting to see what happens
  • #2,920
  • Aug 4, 2021 10:18am Aug 4, 2021 10:18am
Looks like the trend currently still up, but I am shorting later on.
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