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ReadtheMarket - Supply and Demand with Price Action

  • #7,641
  • Dec 2, 2022 2:37pm Dec 2, 2022 2:37pm
Quoting Hoplite
{quote} hi bro very good job its fantastic but i have a problem i remember that IF onetime says if price eng, its very unlike that price goes and break the origin of the move (if i didnt wrong) regards. {image}
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RIP RTM - long live Nonsense Trading
  • #7,642
  • Dec 2, 2022 2:40pm Dec 2, 2022 2:40pm
Quoting Hoplite
it seems nice bsz {image}
how did it work out? seems dangerous to long overall. i'd like to see soemthing like this

edit: nvm saw the next post lol

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RIP RTM - long live Nonsense Trading
  • #7,643
  • Dec 3, 2022 4:17am Dec 3, 2022 4:17am
Quoting ahdat
{quote} how i see the market these days {image}
wooooow .such a sharp eyes bro.very impressive.
Forever a Soldier
  • #7,644
  • Dec 7, 2022 12:19am Dec 7, 2022 12:19am
Quoting ChSrr
hi, any toughts about this analysis? tips are really apppreciated. Thank's IF and RTM community for your amazing job {image}
Hello There,
What is the difference between SS and Eng in your analysis?
Thanks
  • #7,645
  • Dec 7, 2022 11:31pm Dec 7, 2022 11:31pm
What is True Zone and PAZ Zone?
Patience is incredible. There's no limit. The limit is yourself.
  • #7,646
  • Dec 8, 2022 10:07am Dec 8, 2022 10:07am
I had demo trade on Price Action training trading here with 38:1 RRR trade as I had only 2 pips drawdown, when I entered Short on USDCAD at 1.36842 with target at 1.3607, and now Take Profit hit. Wonderful setup. But I am still bit new to pure Price Action trading. Any opinions ?
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  • #7,647
  • Edited 10:28am Dec 8, 2022 10:14am | Edited 10:28am
Later I found this tricky on GBPUSD. It had a short setup with lower lows, around 1.2210 but then after news came out it did break the resistance. So any short entry could be out at Breakeven at least. But it did NOT come down to 1.2181 to 1.2175 for potential long entry. But the resistance at 1.2247 it did respect today (as it looks now). Anyone played this today, and how then ?
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  • #7,648
  • Dec 8, 2022 11:09am Dec 8, 2022 11:09am
For anyone interested in the RTM pattern structure I found this on internet as lookup.

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  • #7,649
  • Dec 8, 2022 11:14am Dec 8, 2022 11:14am
I also found this through a simple google search. It is all attached here. Just noticed some files are too big. So here is the link for his course I found here.
https://www.youtube.com/watch?v=STuGNdumxto&list=PLFXsZeFf1nP6xm62OdNUgQazh2NGLqONM&index=3
https://www.youtube.com/@Readthemarketdotcom/videos
And a must are his past trades setups to analyze them (84 pages as pdf saved) : https://www.readthemarket.com/index.php/why-rtm/our-trades
Attached File(s)
File Type: pdf 271976363-readingthemarket.pdf   6.5 MB | 1,176 downloads
File Type: docx 324336098-Setups.docx   1.7 MB | 639 downloads
File Type: docx 341403233-328104812-FTR-docx.docx   1.1 MB | 566 downloads
File Type: pdf 350799906-Documentslide-com-Classroom-Trading-Supply-Demand-Price-Action-Readthemarket.pdf   3.2 MB | 841 downloads
File Type: pdf 414981237-Ifmyante-ForexFactory-Supply-and-Demand-Price-Action.pdf   9.7 MB | 1,197 downloads
  • #7,650
  • Dec 8, 2022 11:19am Dec 8, 2022 11:19am
For me as I started trading as chart trader, I understand IF Myante trading setups. For me it is a special form of hanging Head&Shoulder, but with overall stop and target from prior Price Action, which is different to classic chart pattern analysis. Also when to expect a reversal H&S pattern is worth to mention, because there can be his Diamonds or just multiple Head and Shoulders setups, to describe it in more common words (by the origin of Edwards and Magee, Chart bible around 1970s). Of course this is older, but his overall setup is different. Just had a wonderful 38:1 RRR trade today with only 2 pips drawdown, so there is some magic here. Thanks to IF Myante.
  • #7,651
  • Dec 8, 2022 11:32am Dec 8, 2022 11:32am
Also worth to mention is there must be some sweet spot for time frames and markets as I highly doubt it works for all the same (as good). It is strict reversal trading. That works best on Forex market because it is the nature to mean revert here. Also I would not go over daily timeframe as trend continuation takes more place and larger momentum traders enter the markets, who care more on breakouts than on reversals on that timeframe. Also if you look on daily chart at stocks (with lots of gaps here, which is not good for the strategy itself as IF also admitted to some extent) and the S&P500 index, you notice there is the BTFD or Buy the dip mentality which is opposite to strict reversal trading. In the end the equity markets just go up, but not with currencies. He, IF, only trades currencies as I noticed so far, so there is his real expertise. On commodities it can work, but I am not so sure because there are also extended trends, for SP500 you need to trade smaller timeframes then during the main session, as they can be really choppy and therefore good for reversals at all. So my focus is on FX, mostly majors, on H1 and smaller timeframes here.
  • #7,652
  • Dec 8, 2022 11:34am Dec 8, 2022 11:34am
Also it is clear to me that hanging Head and Shoulder pattern formation is the best standard formation for any reversal trading at all. Maybe triple tops and bottoms as some variation of that or multiple Head & Shoulders can be added. They all have a high winning rate. The trick is to enter at the height of left shoulder and to have RRR of at least 1 to the next TakeProfit level. Also the overall picture and higher timeframes must be respected here. Still looking and reading his stuff. Maybe there is more.
  • #7,653
  • Dec 8, 2022 11:43am Dec 8, 2022 11:43am
Anyone tried this ? https://www.mql5.com/en/market/product/88287?source=Site+Market+MT5+Search+Rating006%3aRTM#
I just have some doubts it can be coded (easily) as there are too many variables. And I also did not find any useful studies or EAs from this MQL5 marketplace so far.
  • #7,654
  • Dec 8, 2022 12:04pm Dec 8, 2022 12:04pm
That is why I have a closer look at it now. This track record is so good, that it cannot be made out of pure random luck. You do not get so often so lucky when trading!!
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  • #7,655
  • Dec 8, 2022 12:39pm Dec 8, 2022 12:39pm
Quoting ahdat
{quote} {image}
You need to learn chart reading more than you actually are able. Otherwise you would not ask that questions. Also BTC is not good instrument to trade with IF method.
  • #7,656
  • Dec 8, 2022 12:47pm Dec 8, 2022 12:47pm
Quoting thanksyoufor
What is True Zone and PAZ Zone?
These are all the used abbreviations from IF at Readthemarket website and course. This is the full list.

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  • #7,657
  • Dec 8, 2022 2:27pm Dec 8, 2022 2:27pm
Quoting ahdat
{quote} this was an important piece to the puzzle {image}
yes. That was important too!
  • #7,658
  • Dec 9, 2022 11:48am Dec 9, 2022 11:48am
Quoting TrAndy1
Also worth to mention is there must be some sweet spot for time frames and markets as I highly doubt it works for all the same (as good). It is strict reversal trading. That works best on Forex market because it is the nature to mean revert here. Also I would not go over daily timeframe as trend continuation takes more place and larger momentum traders enter the markets, who care more on breakouts than on reversals on that timeframe. Also if you look on daily chart at stocks (with lots of gaps here, which is not good for the strategy itself as IF...
Nice lots of info, im sure a lot of people will find it helpful. I never went to the academy but my basis of trading is based on rtm waaaay back when it was still free. Ive put together my own style of reading, rtm can be a bit convoluted. Some feedback based on my experience

1. Works in all markets and all timeframes. You're right though rtm reversal trading breaks down when the markets are trending hard. Make sure to follow trend direction in those cases. Took me a while to adapt to trending market. Personally trade futures.

2. As far as I know rtm isn't strictly reversal trading. But certainly one of the first things you learn here, but it can certainly be adapted to trend trading. here's a recent example.
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3. you can also look for "reversal" confirmation for a larger trend continuation move. I guess at this point is just talking about scale. another recent example
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3. same principles can be applied in coins. I think you're right probably not the best style for daytrading coins, but you can use the principles for large scale reversals (or confirmation continuation trades). Coins do move funny though, lots of large compression moves, and spikes, less swings overall. Not sure if precise entries will work as well with coins.

Most recent BTC tops
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RIP RTM - long live Nonsense Trading
  • #7,659
  • Dec 9, 2022 12:00pm Dec 9, 2022 12:00pm
Quoting ahdat
{quote} Nice lots of info, im sure a lot of people will find it helpful. I never went to the academy but my basis of trading is based on rtm waaaay back when it was still free. Ive put together my own style of reading, rtm can be a bit convoluted. Some feedback based on my experience 1. Works in all markets and all timeframes. You're right though rtm reversal trading breaks down when the markets are trending hard. Make sure to follow trend direction in those cases. Took me a while to adapt to trending market. Personally trade futures. 2. As far...
Could you also say something about your performance in the past years ? Could you make yourself a comfortable living with RTM approach ? How long did it take in all ?
  • #7,660
  • Edited 12:33pm Dec 9, 2022 12:22pm | Edited 12:33pm
Quoting TrAndy1
{quote} Could you also say something about your performance in the past years ? Could you make yourself a comfortable living with RTM approach ? How long did it take in all ?
i make enough to make a living, but i struggle a lot with trade execution. Im a much much better analyst than trader, not someone that's good at making quick decisions and keeping track of trade opps. Although im going to go back to PO style trading with a new broker that'll allow me to leverage more. Lots of bad habits built up over the years that still linger.

I think the guy you show the perf for is astro something? the post looks familar. if im not mistaken he sorta make his own style of rtm trading around fresh levels and bounces. his performance is abnormal, but he's probably an innately good trader that quickly found a formula that works for him.

btw i dont know how much i trade "RTM" anymore, but some of the concepts was certainly my foundation. i sort of teach it my own way with how ive seen things with my own eyes and experience that i think is simpler.
RIP RTM - long live Nonsense Trading
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