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Time and Price Forecasting

  • #4,321
  • Edited 12:44pm May 6, 2022 12:25pm | Edited 12:44pm
A simple thought process. Patience. Discipline.

USDCAD 1h, 23 pip long. Price at session high and near 1.29
Done deal.
Multiple chances given for a trend-trader. You just simply had to follow the order flow of the session and keep your long.

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EDIT: 1.29 touched.
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To recognize the wave that diagonals were drawn from.

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For a lazy trader, such as myself, these are the kind of trades you wanna be taking. No need to get glued to the screen and overtrade. Only one good trade is enough for a day.
When there's a will, there's a way.
  • #4,322
  • May 7, 2022 11:40am May 7, 2022 11:40am
Quoting MoeinYzz
A simple thought process. Patience. Discipline. USDCAD 1h, 23 pip long. Price at session high and near 1.29 Done deal. Multiple chances given for a trend-trader. You just simply had to follow the order flow of the session and keep your long. {image} EDIT: 1.29 touched. {image} To recognize the wave that diagonals were drawn from. {image} For a lazy trader, such as myself, these are the kind of trades you wanna be taking. No need to get glued to the screen and overtrade. Only one good trade is enough for a day.
I do not want to sound critical MoeinYZZ, rather I would like to offer a suggestion when drawing grids and their extensions. The reason, there gets to be so many diagonals , it is impossible to pull the trigger. Also, some of the diagonals are significant, some are not so much so.

The Key is establishing the DNA of a swing that is significant....and you do that by finding a swing, placing the grid over, and then seeing if the rest of the price action fits within the grid mostly....it verifies the grid is a significant one that can be measured with diagonals and extensions of the .25 increments of the price move from high to low.

When you do this, you will find many trades not only with the trend, but also against the overall trend. I used the same chart as you, the 1 hour Cad, and the arrows show some pretty nice trades if your quick and confidant.
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  • #4,323
  • May 8, 2022 2:55pm May 8, 2022 2:55pm
Quoting Swede
{quote} I do not want to sound critical MoeinYZZ, rather I would like to offer a suggestion when drawing grids and their extensions. The reason, there gets to be so many diagonals , it is impossible to pull the trigger. Also, some of the diagonals are significant, some are not so much so. The Key is establishing the DNA of a swing that is significant....and you do that by finding a swing, placing the grid over, and then seeing if the rest of the price action fits within the grid mostly....it verifies the grid is a significant one that can be measured...
Hi Swede. Advise away! Always open to it ; )

Absolutely agree with your idea. Most of the time I look for new swings that I could draw good diagonals from each morning before trade. Many times, like your chart, a new swing can provide much better diagonals and levels to trade. I remember many examples in my journal, and specifically a USDCAD on a Friday here on this thread actually, that this same concept was present. So of course what you're presenting makes perfect sense.
And really, for Fridays I propose this notion firmly. Given all the new week's price action.

Have to admit though that sometimes I prefer older swings to newer swings because of their diagonals and how price acted on them. But not all the time of course. That's why I strongly agree with the idea that this trading thing is an art really. Sometimes outside the box thinking is encouraged.

Anyway tho, the methodology stays strong in Forex which is just wonderful since this market is known for being the most easily manipulated.
When there's a will, there's a way.
  • #4,324
  • May 9, 2022 10:57am May 9, 2022 10:57am
usually i do not feel comfortable to trade first day of week but this confluence and the confidence i gained from last some trades made me excited, although i closed my entry after 25pips and it's still going but no regret.
actually my focus point was nzdusd( arrow) but it just slipped away,will see in asian session
any advise/suggestion will be appreciated from my side
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  • #4,325
  • May 9, 2022 11:28am May 9, 2022 11:28am
will look for this too
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  • #4,326
  • May 9, 2022 11:48am May 9, 2022 11:48am
Classic, classic grid trade....

1. Find a swing
2. Overlay grid...answer the question "does the grid contain price by the 4 levels and verticals.
3. Measure and place diagonals.

GBP hit the Big round number which corresponds with the diagonal....result, I picked off 75 pips, but I see it made the whole 100....
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  • #4,327
  • May 9, 2022 12:15pm May 9, 2022 12:15pm
The second trade was also textbook as price retraced and reversed where?.....you answer, if you had taken the trade your up 35 pips atm...I missed it as I was out of the office for an hour but it was a no brainer using this method.
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  • #4,328
  • May 9, 2022 12:28pm May 9, 2022 12:28pm
Quoting ALIpk1317
usually i do not feel comfortable to trade first day of week but this confluence and the confidence i gained from last some trades made me excited, although i closed my entry after 25pips and it's still going but no regret. actually my focus point was nzdusd( arrow) but it just slipped away,will see in asian session any advise/suggestion will be appreciated from my side {image} {image}
good read....I was thiniking a short on Cad because of how high it traded and I expected a reverse, but as usual Cad did its thing...always have problem trading this currency for some reason...lol

Now, I really think we need to start watching for some sign of reversal as price cannot be susutained up here in the clouds,,,,R4 should do it...(my tracking chart attached)
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  • #4,329
  • May 9, 2022 1:40pm May 9, 2022 1:40pm
Quoting Swede
{quote} good read....I was thiniking a short on Cad because of how high it traded and I expected a reverse, but as usual Cad did its thing...always have problem trading this currency for some reason...lol Now, I really think we need to start watching for some sign of reversal as price cannot be susutained up here in the clouds,,,,R4 should do it...(my tracking chart attached) {image}
Lockdown in China effected the global supply chain resulting oil and gold prices to fall(i read this somewhere) and rest you know very well the relation of oil with cad.
and swede don't say that man we all know how brilliant you are!
and i'm agree with your last line,wednesday cpi news might turn it's direction IMHO
  • #4,330
  • May 9, 2022 9:41pm May 9, 2022 9:41pm
Quoting ALIpk1317
will look for this too {image}
sort of a follow up
In Asian session 25 pips are more than enough for me(oh scalper me)

Besides this,anybody trading BTC?actually, after it's recent fall i'm thinking about investment in it for long term, thoughts or any guidance?
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  • #4,331
  • May 9, 2022 11:49pm May 9, 2022 11:49pm
Is anyone using this method in trading Natgas/Crude?
  • #4,332
  • May 10, 2022 12:04pm May 10, 2022 12:04pm
Quoting ALIpk1317
{quote} sort of a follow up In Asian session 25 pips are more than enough for me(oh scalper me) Besides this,anybody trading BTC?actually, after it's recent fall i'm thinking about investment in it for long term, thoughts or any guidance? {image}
Parisboy trades BTC nearly every day...using the 5 cma method...BTC moves quickly and has no mercy so you have to be quick and be associated with a good broker.. here is a nice entry this morning just after NY got moving....I didnt take it but it was there for certain...
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  • #4,333
  • Edited 12:25pm May 10, 2022 12:14pm | Edited 12:25pm
Quoting Trade4work
Is anyone using this method in trading Natgas/Crude?
Once you understand the significance of a swing, and you understand why price trades according to the DNA provided by a major swing, then you will see the grid method with diagonals works in all markets....here is West Texas Intermediate this morning during the NY session....any question that was a nice trade?

ps....go to post 16 in this forum and read all you can on geometric angles that is illustrated there.
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  • #4,334
  • May 13, 2022 9:05pm May 13, 2022 9:05pm
Quoting ALIpk1317
{quote} sort of a follow up In Asian session 25 pips are more than enough for me(oh scalper me) Besides this,anybody trading BTC?actually, after it's recent fall i'm thinking about investment in it for long term, thoughts or any guidance? {image}
A few years ago, my bank wanted me to invest in a sure thing, something that would return 10-15 % per annum. The returns boasted they were backed by mortgages, yes MORTGAGE BACKED SECURITIES. I just couldn’t wrap my head around how the return could be so high when the mortgage holder was only paying 4-6%? My banker couldn’t give me a good explanation so I passed on his sure thing offer. We all know the whole thing collapsed because it was based on nothing more than promotion, derivatives with no substance.

Can anyone explain to you what is backing Crypto......? Some of the best minds in the world cannot offer a good explanation so That in itself is enough for me not to look at it as an investment. Trading it can be very profitable but as a long term investment they can be horrible.....be very careful my friend.
  • #4,335
  • May 13, 2022 10:14pm May 13, 2022 10:14pm
Quoting ALIpk1317
{quote} sort of a follow up In Asian session 25 pips are more than enough for me(oh scalper me) Besides this,anybody trading BTC?actually, after it's recent fall i'm thinking about investment in it for long term, thoughts or any guidance? {image}
you know the obvious ,
people leave, but this thread will go on for ever
  • #4,336
  • May 14, 2022 7:25am May 14, 2022 7:25am
Quoting Swede
{quote} A few years ago, my bank wanted me to invest in a sure thing, something that would return 10-15 % per annum. The returns boasted they were backed by mortgages, yes MORTGAGE BACKED SECURITIES. I just couldn’t wrap my head around how the return could be so high when the mortgage holder was only paying 4-6%? My banker couldn’t give me a good explanation so I passed on his sure thing offer. We all know the whole thing collapsed because it was based on nothing more than promotion, derivatives with no substance. Can anyone explain to you what...
thanks for valuable and thoughtful words swede...appreciated
  • #4,337
  • May 14, 2022 4:54pm May 14, 2022 4:54pm
Quoting ALIpk1317
{quote} thanks for valuable and thoughtful words swede...appreciated
Well, I guess you have to determine “long term” for yourself. Your age, your financial health, your family should all play into your decisions. Like I said, trading is much different from investing. With trading your in, your out, you hold a bit, you go back to cash, over and over. Investing in something like crypto over the long term could wipe you out with an unexpected world event, or government interference, or anything that you have no control over. Look how China put a damper on bitcoin farms, could that happen here? We have an energy crises to some degree right now, will there be controls put on the high energy used for farming, it could happen.

So, with all of this in mind I would say “invest” only what you could afford to loose, and if your scalping use the same criteria with the addition of stops on every trade..

Be well.....Ingvar
  • #4,338
  • May 14, 2022 7:17pm May 14, 2022 7:17pm
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drawing program

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  • #4,339
  • May 14, 2022 11:10pm May 14, 2022 11:10pm
Quoting Swede
{quote} Well, I guess you have to determine “long term” for yourself. Your age, your financial health, your family should all play into your decisions. Like I said, trading is much different from investing. With trading your in, your out, you hold a bit, you go back to cash, over and over. Investing in something like crypto over the long term could wipe you out with an unexpected world event, or government interference, or anything that you have no control over. Look how China put a damper on bitcoin farms, could that happen here? We have an energy...
you are right swede.... i have discussed with some other people and few of them are into somthing called "crypto mining" and they are very passionate and positive towards btc future but you know mining and investing are two very different things,,and last week what happened to LUNA raised many questions too but as you said"invest only what you could afford to loose" is the point i'm genuinely considering.
  • #4,340
  • May 15, 2022 3:01pm May 15, 2022 3:01pm
Quoting DiamondMiner
This thread has some of the coolest traders, thanks Swede, thanks Aworex!!!!
good time of day Swede.
can you describe in more detail how you calculated the vertical and horizontal lines. thanks

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