Disliked@Whitesta Have I drawn in correctly those "sweet spots" with the indicator for Tradingview that you sent me please? Cheers. Uk price is in a range -so far -above US highs? {image}Ignored
1
- #3,343
- Edited 10:52pm Sep 13, 2022 9:17pm | Edited 10:52pm
- Joined Aug 2022 | Status: Sacred Geometry | 805 Posts
{quote} {quote} I'm confused here i must admit. Ok, the 1.022 level was declared on Sep1. It went down roughly 170 pips before rising 330ish and almost hitting 1.022. before falling circa 200 again. I know u don't want to talk about the trade management side of this and of course I accept your decision, but I'm trying to figure out in my own mind how the hell I would trade that ? Anybody care to discuss? EDIT..to get the volume of longs required then that dip around 6 Sep is a nice place as it will take out all the late August bulls with their 100...
Simply stated George's Target was not reached, hence, it will go there again. Go to George's thread. He explains in layman. No holier than thou cryptic masonic initiation necessary or Victorian era style lecture on "work on yourself". Just simple price action.
The market hides a perfect geometry.
- #3,345
- Edited 4:02am Sep 14, 2022 3:14am | Edited 4:02am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,346
- Sep 14, 2022 8:40am Sep 14, 2022 8:40am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
{quote} Yeah set the values to 25.
Ah - unchecked "set to automatic" and I think it works ?
every Saint has a past. Every Sinner has a Future
- #3,347
- Edited Sep 15, 2022 12:23am Sep 14, 2022 9:42am | Edited Sep 15, 2022 12:23am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,348
- Edited 11:18am Sep 14, 2022 11:01am | Edited 11:18am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
{quote} Hi FWR, today is a good day to trade the yen cross instead of the dollar. Yesterday the majors reverse towards wol, today the same thing happen with yen. The difference is when we sell A$ it's at year low. Whereas, when we sell AY it's at year high in a bullish month. The distance definition, (prevailing bull/bear) characteristics and risk are different. Overall, for the month of September it's a lot easier to buy yen cross then sell majors. Trading the reverse is more difficult. Aussie and Cad cross offer good trading opportunities too....
The bullish month top of trend vs bearish month yearly low. Explains well the difference in news action yesterday.
- #3,352
- Edited Sep 15, 2022 1:38pm Sep 14, 2022 11:01pm | Edited Sep 15, 2022 1:38pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
NY or post NY equities. Just an observation. {image}
--------------------------------------------------------
Monologue,
I'm aware I offended, level2 volume, price action, candle pattern, trend line and many other traditional technical analysis technicians.
My purpose is to disturb your comfort zone.
Ask this honest question,
Are you the ob/os indicator or pattern of some sort trader?
Can traditional technical analysis tell what the market traded yesterday?
Why does price move up or down?
This is 2022. It takes honesty to get pass our ego to re-evaluate things again - things that were told to us, get the slim chance to get onto a new logical path that make sense.
Ego is the bigger enemy than fear, that make our mindset weak. Greed makes us want the money, just the money.
Ego, fear, greed, the 3 enemies of trading. Ego is high up there.
I can only tell, perhaps my delivery is bad. Repeated myself many times on this thread(offended many people repeatedly). Adults don't need repetition. Isn't it time to do some hard thinking? And talk to our ego, in private.
And time for me, the average Joe trader who chose to think logical and sensible, to stop saying the same things. Stfu.
Cheers
I guess you find value in Peter Celebs writing?
-----------------------------------------------------------------
I was curious that I read the thread again. And I come across this sentence written in 2015. My idea is not new after all. Most traders can see direction, have no idea about intent. It's all about intent, direction is meaningless when it's mostly fake.
In trading, you can know direction of price but you must also know the intent of that direction. That is the key. Direction and intent. {image}
A genuine intent fail. A fake intent look genuine. That's the problem.
Basically yes, but it's really all about the levels and where you are in the cycle. That is the key. Once location within the cycle is known, all "intent" is known as well.
People limit themselves thru fear and those fears become their facts. Which of course obscures any exploration of the truth for them. Even when it's shown to them repeatedly.
Real traders protect their sh*t to their last breath. Because they know the value. They know how it works.
Know what you trade
- #3,354
- Edited 6:40pm Sep 15, 2022 6:27pm | Edited 6:40pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Its quite tough to not pull the trigger when live trading. A lot of patience is required .......... Thats why i say lots of patience is needed and why its good to trade 2 or 3 pairs so u can see how they move. Always room to learn. The hardest part for me is when there are big candles moving in different directions traying to suck us in. Once u have analysed, stick to it and only pull the trigger when price is where u had anticipated it.
And I can see you don't trade pattern per se. You make logical and sensible trades with time as the most important variable.
Take a look at AY and CadY, they tend to move in tandem.
For your bolded problem because of increased volatility mostly due to red news release, wait for lh or hl. That's why I wrote don't scalp these spikes, step away from the market, wait for the volatility to subside.
Last, stick to this simple, logical and sensible time based strategy, it work in all markets. Cheers
Know what you trade
- #3,355
- Sep 15, 2022 6:41pm Sep 15, 2022 6:41pm
{quote} Hi whitesta, that's why I wrote, take one intraday 50pips swing trade a day. It could be zero trade. And I can see you don't trade pattern per se. You make logical and sensible trades with time as the most important variable.
- #3,356
- Sep 15, 2022 6:53pm Sep 15, 2022 6:53pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,358
- Sep 15, 2022 7:26pm Sep 15, 2022 7:26pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,360
- Edited 12:33am Sep 16, 2022 12:06am | Edited 12:33am
- Joined Apr 2007 | Status: Trader | 1,016 Posts
Some post in this thread caught my eye a few weeks back so I've been following along, best I can, but I must say there are a lot of acronyms that I don't see an obvious definition for, though many are obvious enough.
Q1. Would anyone please write up a short list of acronyms and how each are marked on a chart? (incl. for example "PWOL", "DOL", etc.)
Q2. Are there any indicators being used to draw the clearly definable lines? Seems like there must be. Of course, the interpretation of them is where the work begins.
First with references to this post:
That GJ chart by whitesta has "[O] Weekly" and "DOL" lines marked. The former is apparently the current week's open price (though my broker's feeds vary somewhat). Is "DOL" supposed to mean "Daily Open Line" ? I'm guessing so, however again this depends on broker feeds, and whitesta's line is a few pips above mine.
However -- and this sort of observation is what drew my attention -- one can easily see in the recent past the the DOL (closer to whitesta's level) appears to match the low made right after the weekly open, within a hour or so. Plus, the same level matches last Tuesday's High. The Sunday lines are marked, and these Daily superbars imposed on this M15 chart are 5-per-week, so easy to spot Monday, Tuesday, Wednesday, Thursday, and Friday. The opening times of each Daily bar correspond to NY 5pm.
On my chart, I marked the recent GJ high with a thick black HLine, and then went looking backwards in time.
I annotated it with historical news events. Near this GJ peak, EUR had a Rate news event (June 9), but that would be indirect vs. this GPB and JPY (and always USD).
Was there any notable past interaction with this line?
Yes, it "seems" like it, but is hard to clearly isolate and identify.
For the left June 8-9 peak, there was more evidence of S/R bounces off of this level vs. other nearby levels.
For the right peak, price didn't rise much at all above this future-based(!) black line, only for under 3 hours. At the exact level, I can only note that the 2022.06.21 22:00 candle High is only ~2p below the black line. That would have been an H4 Close price ONLY for a UTC (GMT) based chart, but this chart is not that, so no H4 close at that black level. However, it would have been a tweezer-top, and the 2nd H4 candle (as price fell) was a strong Bearish Outside Bar (BEOB).
Q3: Are these observations repeatable in some way to anticipate future moves?
Well, BWilliam made this GU post on Sep 2.
I saw that, and noted his blue shaded target area with the top price of 1.14465, and the bottom price of 1.14098. Like a few others following this thread, I looked back on a chart for those levels, and could see that GU made a major low @ 1.14098 on Friday, March 20, 2020. On Monday, March 23, it came close to the low, stopping just shy at 1.14465. Those are the 2 levels Bill marked. (They match my broker data exactly, but will slightly differ on various other broker feeds).
On my chart, I've marked those 2 levels, PLUS: 2 days before the major low, on March 18, 2020, price made a nearby Low of 1.14495, just 3p above the March 23 low. (I suppose that March 18 Low was a clue for the March 23 Low??) I wondered if any recent levels are similarly 3p higher than BW's upper target.
I also marked the recent high with a gold line, and looked backwards.
First, an H4 for the major GU low ~ March 20, 2020:
Then, a recent GU H1 showing the interactions with the 3 lower lines (all with anchors from the past). (The Gold line is anchored recently, on THIS chart).
The recent gold line high appears to very nearly match a Weekly CLOSE on 2022.08.26 23:00. For (again) 3 hours, price attempted to go above that level but was rejected. On Sep 13, a recent strong high formed, after which the US higher-than-expected CPI numbers caused a major abrupt GU fall (i.e. rise of USD).
I would note that the recent low of 1.14506 is a mere 1.1p above the Low on March 18 (2 days before the major March 20 Low).
What do these all mean?? And how best to anticipate such moves in advance? Of course, that's the key question for every trader, and I would understand if those in-the-know would not come right out and state it clearly for ALL the world to see (and then give away a major advantage?? Nah). However, I do appreciate the clues given thus far, and whatever more you are willing to share. Of course I will also keep making more observations to see what I can learn.
P.S. I'm aware this thread is a continuation of previous ones, but I'm not sure which ones nor all that are part of the history. I'm willing to go back and read several pages/weeks worth of posts to help catch up, but would appreciate any pointers to the most comprehensive threads and/or posts.
Q1. Would anyone please write up a short list of acronyms and how each are marked on a chart? (incl. for example "PWOL", "DOL", etc.)
Q2. Are there any indicators being used to draw the clearly definable lines? Seems like there must be. Of course, the interpretation of them is where the work begins.
First with references to this post:
A decent GBP/JPY trade. Again after London session. Its quite tough to not pull the trigger when live trading. ...
However -- and this sort of observation is what drew my attention -- one can easily see in the recent past the the DOL (closer to whitesta's level) appears to match the low made right after the weekly open, within a hour or so. Plus, the same level matches last Tuesday's High. The Sunday lines are marked, and these Daily superbars imposed on this M15 chart are 5-per-week, so easy to spot Monday, Tuesday, Wednesday, Thursday, and Friday. The opening times of each Daily bar correspond to NY 5pm.
On my chart, I marked the recent GJ high with a thick black HLine, and then went looking backwards in time.
I annotated it with historical news events. Near this GJ peak, EUR had a Rate news event (June 9), but that would be indirect vs. this GPB and JPY (and always USD).
Was there any notable past interaction with this line?
Yes, it "seems" like it, but is hard to clearly isolate and identify.
For the left June 8-9 peak, there was more evidence of S/R bounces off of this level vs. other nearby levels.
For the right peak, price didn't rise much at all above this future-based(!) black line, only for under 3 hours. At the exact level, I can only note that the 2022.06.21 22:00 candle High is only ~2p below the black line. That would have been an H4 Close price ONLY for a UTC (GMT) based chart, but this chart is not that, so no H4 close at that black level. However, it would have been a tweezer-top, and the 2nd H4 candle (as price fell) was a strong Bearish Outside Bar (BEOB).
Q3: Are these observations repeatable in some way to anticipate future moves?
Well, BWilliam made this GU post on Sep 2.
I saw that, and noted his blue shaded target area with the top price of 1.14465, and the bottom price of 1.14098. Like a few others following this thread, I looked back on a chart for those levels, and could see that GU made a major low @ 1.14098 on Friday, March 20, 2020. On Monday, March 23, it came close to the low, stopping just shy at 1.14465. Those are the 2 levels Bill marked. (They match my broker data exactly, but will slightly differ on various other broker feeds).
On my chart, I've marked those 2 levels, PLUS: 2 days before the major low, on March 18, 2020, price made a nearby Low of 1.14495, just 3p above the March 23 low. (I suppose that March 18 Low was a clue for the March 23 Low??) I wondered if any recent levels are similarly 3p higher than BW's upper target.
I also marked the recent high with a gold line, and looked backwards.
First, an H4 for the major GU low ~ March 20, 2020:
Then, a recent GU H1 showing the interactions with the 3 lower lines (all with anchors from the past). (The Gold line is anchored recently, on THIS chart).
The recent gold line high appears to very nearly match a Weekly CLOSE on 2022.08.26 23:00. For (again) 3 hours, price attempted to go above that level but was rejected. On Sep 13, a recent strong high formed, after which the US higher-than-expected CPI numbers caused a major abrupt GU fall (i.e. rise of USD).
I would note that the recent low of 1.14506 is a mere 1.1p above the Low on March 18 (2 days before the major March 20 Low).
What do these all mean?? And how best to anticipate such moves in advance? Of course, that's the key question for every trader, and I would understand if those in-the-know would not come right out and state it clearly for ALL the world to see (and then give away a major advantage?? Nah). However, I do appreciate the clues given thus far, and whatever more you are willing to share. Of course I will also keep making more observations to see what I can learn.
P.S. I'm aware this thread is a continuation of previous ones, but I'm not sure which ones nor all that are part of the history. I'm willing to go back and read several pages/weeks worth of posts to help catch up, but would appreciate any pointers to the most comprehensive threads and/or posts.