Volman meets Burke or My journey with PA | Page 36 | Forex Factory

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Volman meets Burke or My journey with PA

  • #701
  • Oct 31, 2022 8:12am Oct 31, 2022 8:12am
Quoting spzd
An example of previous day low acting as support just happened GU 5-minute.
Will it hold? Your guess is as good as mine. Let PA tell us.
Mark ... Everything you have been told is a LIE
  • #702
  • Oct 31, 2022 8:37am Oct 31, 2022 8:37am
I do not trade pin bars of any type much anymore. I think they may be more "predictive" on higher time frames, on the 5-minute not so much. I will use them in DT/DB patterns as one of the legs.

I have the 20 ema as a solid line and the 25 ema as a dotted line. The 20 is from Brooks and the 25 is from Volman. If used correctly moving averages like one of these can be very helpful.
Mark ... Everything you have been told is a LIE
  • #703
  • Oct 31, 2022 9:03am Oct 31, 2022 9:03am
Quoting spzd
{quote} Will it hold? Your guess is as good as mine. Let PA tell us.
And it did not put up much of a fight. Neither did the BRN 1.15 right below it. Price is not zooming off either. End of month trading may be off the table. Good day to take care of other projects.

This is giving me time to ponder the MA. The nature of my methodology leans hard to counter trading. And when you think about it it's a duh. Looking to trade from highs and lows. Not all are counter as many can be considered "scalp" runs or re-tests of those areas. All depends on the context of price movement. From the 2nd hour of the London session this market has been in a down move (trend - since trends come in many forms and its definition is based on the observer). This has been for the most part a grind or stair-step move. On a "normal" day I would be looking to counter this move at or after the ending of the US session. This being EoM who knows.
Mark ... Everything you have been told is a LIE
  • #704
  • Oct 31, 2022 9:29am Oct 31, 2022 9:29am
Can't deny that the quarters 00, 25, 50, 75 are significant. GU went down to the 75Q then right back up to BRN 1.15, piddled a bit to say "hi" and who knows from here.
Mark ... Everything you have been told is a LIE
  • #705
  • Edited 11:14am Oct 31, 2022 9:37am | Edited 11:14am
Quoting spzd
Can't deny that the quarters 00, 25, 50, 75 are significant. GU went down to the 75Q then right back up to BRN 1.15, piddled a bit to say "hi" and who knows from here.
Nope.

I think sometimes I spend too much time in too close.


This is all from trying to look at all this through Brooks eyes. Think I need to re-read some. Almost got it figured out, not quite and it is very irksome.
Mark ... Everything you have been told is a LIE
  • #706
  • Oct 31, 2022 11:06am Oct 31, 2022 11:06am
TPA:Trends by Brooks

" ...
What is the best way to learn how to read price action?

Print out charts and then look for every profitable trade.

For example, if you are a scalper, set your target amount and find every move during the day where that amount was possible. After a few weeks you will start to see patterns that if traded will result in higher probability trades.
... "


He is not a fan of EW.

"... Elliott Wave Theory ... for most traders is not reliable. ... it requires far too much thought and there is too much uncertainty for most active day traders. ..."
Mark ... Everything you have been told is a LIE
  • #707
  • Oct 31, 2022 11:37am Oct 31, 2022 11:37am
Quoting T721
DAX UPDATE {image} {image}
DAX UPDATE --- Could be setting up a big drop this next few weeks. Caution advised
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-10-31 at 16.34.44.png Size: 50 KB
  • #708
  • Oct 31, 2022 11:45am Oct 31, 2022 11:45am
sp500 round up. I blame spzd for getting me addicted to this index

5 minute chart

TimeTell Zeppelin was noted near the question mark - bouncing along a Friday formation low which was drawn in ( with other levels prior to US pre-open.
Possible long trade at question mark but missed it despite seeing it on a prior low and in a little consolidation or "inflexion point?"
Long out of channel. That one trade and finish at 4pm after hitting an upper level target around 3890.00

Zoomed out 5 minute chart also shown.


Comment welcome please
Attached Image(s) (click to enlarge)
Click to Enlarge Name: US500_2022-10-31_16-34-51_01b37.png Size: 137 KB
Click to Enlarge Name: US500_2022-10-31_16-44-14_eb4fa.png Size: 177 KB
every Saint has a past. Every Sinner has a Future
  • #709
  • Oct 31, 2022 11:51am Oct 31, 2022 11:51am
Quoting turnip15
sp500 round up. I blame spzd for getting me addicted to this index 5 minute chart TimeTell Zeppelin was noted near the question mark - bouncing along a Friday formation low which was drawn in ( with other levels prior to US pre-open. Possible long trade at question mark but missed it despite seeing it on a prior low and in a little consolidation or "inflexion point?" Long out of channel. That one trade and finish at 4pm after hitting an upper level target around 3890.00 Zoomed out 5 minute chart also shown. Comment welcome please...
I'm sure that's a good thing ...
Mark ... Everything you have been told is a LIE
  • #710
  • Oct 31, 2022 11:52am Oct 31, 2022 11:52am
Quoting spzd
TPA:Trends by Brooks " ... What is the best way to learn how to read price action? Print out charts and then look for every profitable trade. For example, if you are a scalper, set your target amount and find every move during the day where that amount was possible. After a few weeks you will start to see patterns that if traded will result in higher probability trades. ... " He is not a fan of EW. "... Elliott Wave Theory ... for most traders is not reliable. ... it requires far too much thought and there is too much uncertainty for most...
Agreed -thinking too much which causes one to miss a move, is not a good trait for a scalper, a trait that can lead to ill thought out and hurried decisions
every Saint has a past. Every Sinner has a Future
  • #711
  • Oct 31, 2022 11:55am Oct 31, 2022 11:55am
Quoting turnip15
sp500 round up. I blame spzd for getting me addicted to this index 5 minute chart TimeTell Zeppelin was noted near the question mark - bouncing along a Friday formation low which was drawn in ( with other levels prior to US pre-open. Possible long trade at question mark but missed it despite seeing it on a prior low and in a little consolidation or "inflexion point?" Long out of channel. That one trade and finish at 4pm after hitting an upper level target around 3890.00 Zoomed out 5 minute chart also shown. Comment welcome please {image}...
I think your time is off an hour.
Mark ... Everything you have been told is a LIE
  • #712
  • Oct 31, 2022 12:03pm Oct 31, 2022 12:03pm
Quoting spzd
{quote} Will it hold? Your guess is as good as mine. Let PA tell us.
USA trading zone ( UK 2.30pm to 4:30pm) and one hour prior to USA open - 1:30pm
Got this chart of Cable - Not traded by me but would be interested in comment.
I could only see a short and long for just about ( if you were quick on stopping out) Five or so pips ??
Any comment please ?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-10-31_17-01-13_475bc.png Size: 155 KB
every Saint has a past. Every Sinner has a Future
  • #713
  • Oct 31, 2022 12:06pm Oct 31, 2022 12:06pm
Quoting spzd
{quote} I think your time is off an hour.
Yes it is - good old BSTime
every Saint has a past. Every Sinner has a Future
  • #714
  • Oct 31, 2022 12:53pm Oct 31, 2022 12:53pm
Quoting T721
{quote} DAX UPDATE --- Could be setting up a big drop this next few weeks. Caution advised {image}
OR

Could be continuing upward to new highs! Ride the Train...
...because you never know - until you do!
  • #715
  • Oct 31, 2022 12:56pm Oct 31, 2022 12:56pm
Quoting turnip15
{quote} USA trading zone ( UK 2.30pm to 4:30pm) and one hour prior to USA open - 1:30pm Got this chart of Cable - Not traded by me but would be interested in comment. I could only see a short and long for just about ( if you were quick on stopping out) Five or so pips ?? Any comment please ? {image}
I've been in and out of cable today 2x - both for very small (10 & 13 pip gains).

Currently I'm underwater waiting for DXY to calm down so cable can re-trace back to 1.151x-2xish

It is what you make of it.
...because you never know - until you do!
  • #716
  • Oct 31, 2022 1:13pm Oct 31, 2022 1:13pm
Quoting fxsport
{quote} I've been in and out of cable today 2x - both for very small (10 & 13 pip gains). Currently I'm underwater waiting for DXY to calm down so cable can re-trace back to 1.151x-2xish It is what you make of it.
With this being EoM it may just go into a range. It's made a couple attempts to form a base. In the process now again.
Mark ... Everything you have been told is a LIE
  • #717
  • Nov 1, 2022 9:43am Nov 1, 2022 9:43am
Advancing along with AlB. The 3 volumes are much easier to read. What he essentially did was take the first book and broke it apart to try and bring some cohesion to this topic. If you are one who can glean info from the written word, I highly advise the expense (or however you obtain them) to get these. It definitely changes one's perspective of price. Every bar, no matter how insignificant to some, is of importance to someone.
Mark ... Everything you have been told is a LIE
  • #718
  • Nov 1, 2022 10:07am Nov 1, 2022 10:07am
This morning my 'Watchlist 3 ' ..... 2 made 100 pip moves .. 1 made 80
Moves happened while I was at church this morning for All Saints Day and not available to trade.
Is there message here ???
  • #719
  • Nov 1, 2022 10:33am Nov 1, 2022 10:33am
Quoting Lou
This morning my 'Watchlist 3 ' ..... 2 made 100 pip moves .. 1 made 80 Moves happened while I was at church this morning for All Saints Day and not available to trade. Is there message here ???
When this happens to me the message is - I was not supposed to trade that particular move. Why? Don't know. Perhaps to test your discipline. Me I would force trades after seeing something like this. Today I don't even bat an eye.
Mark ... Everything you have been told is a LIE
  • #720
  • Nov 1, 2022 1:35pm Nov 1, 2022 1:35pm
Still have a ways to go with Al-B. I am starting to think he is primarily a momentum trader.
Mark ... Everything you have been told is a LIE
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