Volman meets Burke or My journey with PA | Page 122 | Forex Factory

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Volman meets Burke or My journey with PA

  • #2,421
  • Apr 15, 2023 2:34pm Apr 15, 2023 2:34pm
Quoting spzd
{quote} And there it is. Not too big. As I said if this had been an up bar of almost any size and it would have likely closed above the M1-Hull and negated my entire thesis. Which it does at times. In this case price pushed solidly down. The next open is the entry or not. In the less than likely case price opens noticeably above the close that will negate an entry. What is more likely here is an open at or below the close. What I am looking for is that down (sell) momentum has taken control and price will move down with no more than 3 or 4 pts drawdown...
The next bar opens with a tiny gap down. I would be in as quickly as my reflexes allow. Some clicks are faster than others ...

A one minute bar that allows BE+ to be set. The theory from here is to manage the trade as far as you can to extract the most profit. I tend to not be as good as the theory part. Another work in progress.

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Mark ... Everything you have been told is a LIE
  • #2,422
  • Apr 15, 2023 2:41pm Apr 15, 2023 2:41pm
Quoting spzd
{quote} The next bar opens with a tiny gap down. I would be in as quickly as my reflexes allow. Some clicks are faster than others ... A one minute bar that allows BE+ to be set. The theory from here is to manage the trade as far as you can to extract the most profit. I tend to not be as good as the theory part. Another work in progress. {image}
In about four minutes you could close this at around 50 pts. <--- That is why I made the decision to switch.

This is not every time. But then again you only need a couple or three even close to this.

I am usually out by now. Working to get more of the full move. From here the theory is that you either take full or partial profits and if you still have some in the game to see how much you can get.

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Mark ... Everything you have been told is a LIE
  • #2,423
  • Apr 15, 2023 5:41pm Apr 15, 2023 5:41pm
I have made mention of knowing your tools. With that, after I put the Kijuns on for dynamic mid-points and based them the same as the Hulls, I started to wonder what kind of time boxes am I looking at to get the high and low that make up the mid-point. It is an easy calculation when you go from the M1 chart.

The base is 30, same as the Hulls. This would make the M1-MP 30 or 30 minutes. This is a dynamic calculation, so the last bar gets dropped as each new bar comes into play.

The M5 has a value of 150 (30 x 5). This is 2 ½ hours.

Looking at it from a time perspective, there does not seem to be any flow or connection.

The M15 is 450 and comprises 7 ½ hours. This is close to making some sense. The futures indices close an hour each day. The currencies essentilly have an hour of higher spreads that make them untradable imo.

Last one the H1. That is a rather large 1800. This comes out to 30 hours. A day and a ¼.

Honestly, I can't make anything out of any of this. So, I don't bother and just use these periods to make life easy. And when you look at the charts with these on, you can say "yeah that is close enough".
Mark ... Everything you have been told is a LIE
  • #2,424
  • Apr 15, 2023 6:27pm Apr 15, 2023 6:27pm
The move down extended all the way back to the open area. This for the time being made the top of the first hour box the high of the session. This also makes that area a potential target if the market has a reversal during the day as they often do. There were a couple other places to get an entry in this move. The first was at the M15-MP and the second was a B- type entry crossing the M15-Hull.

Both had sideways movement, with the first getting a slight bounce off the M15-MP. It then becomes a breakthrough momentum entry, catching price as it goes past the MP. The second was a quick pullback and jumping on momentum. It is much riskier. This is the kind of entry you make when you are "really feeling" the market.

***My wife says I sometimes sound like a surfer. So I came up with my surfer zen analogy. The surfer - "always in search of the perfect wave, man". Me - "always in search of the perfect entry, man".

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Mark ... Everything you have been told is a LIE
  • #2,425
  • Apr 16, 2023 5:29am Apr 16, 2023 5:29am
Adelaide International Kite Festival, Adelaide, Australia

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Mark ... Everything you have been told is a LIE
  • #2,426
  • Apr 16, 2023 3:21pm Apr 16, 2023 3:21pm
Quoting spzd
Looking at it from a time perspective, there does not seem to be any flow or connection.

I found that last part also Mark.

Trying to simplify as much as possible for myself I broke the day down into 3 simple 8hr blocks for currencies and used an MA across the screen to represent it.

I don't trade from the visuals of that MA but I do use it as a visualisation of where the average has been in the most recent 8hr block (session). This does not 'tell' me where price will go next of course.

All the best and loved the kites above.
  • #2,427
  • Apr 16, 2023 5:08pm Apr 16, 2023 5:08pm
This week is mostly free from scheduled USD news.
Mark ... Everything you have been told is a LIE
  • #2,428
  • Apr 16, 2023 5:14pm Apr 16, 2023 5:14pm
UJ price is inside the H1 Hull. It seems to be trying to turn down. Will see.

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Mark ... Everything you have been told is a LIE
  • #2,429
  • Apr 16, 2023 5:21pm Apr 16, 2023 5:21pm
And if it is going to try and turn down it needs to get through everything that was in a weak up cycle.

Everything is a process.
Mark ... Everything you have been told is a LIE
  • #2,430
  • Apr 16, 2023 5:45pm Apr 16, 2023 5:45pm
There were two entries for some scratch. One was ~x3.975 the other was x3.956. That was the one I got for abt 20p.
Mark ... Everything you have been told is a LIE
  • #2,431
  • Apr 16, 2023 5:48pm Apr 16, 2023 5:48pm
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Mark ... Everything you have been told is a LIE
  • #2,432
  • Apr 16, 2023 6:12pm Apr 16, 2023 6:12pm
And so much for the down move ...
Mark ... Everything you have been told is a LIE
  • #2,433
  • Apr 16, 2023 6:19pm Apr 16, 2023 6:19pm
Quoting spzd
And so much for the down move ...
Thing is though, price is still inside the H1. So just getting bounces up and down so far.
Mark ... Everything you have been told is a LIE
  • #2,434
  • Apr 16, 2023 6:23pm Apr 16, 2023 6:23pm
Quoting spzd
{quote} Thing is though, price is still inside the H1. So just getting bounces up and down so far.
Missed the move up. That would have made the two trades for Asia.

This - currencies- not being my priority I will need to work out a few kinks and get used to how this moves. Always jump back and forth with pairs, liking this UJ.
Mark ... Everything you have been told is a LIE
  • #2,435
  • Apr 16, 2023 6:28pm Apr 16, 2023 6:28pm
Quoting spzd
{quote} Thing is though, price is still inside the H1. So just getting bounces up and down so far.
Bring that mf* EJ down.

Can't trade, my hands are tied with EJ positions, holding from last FRIDAY.
Success = Practice + Patience + Persistence
  • #2,436
  • Apr 16, 2023 7:07pm Apr 16, 2023 7:07pm
Quoting fxpider
{quote}
Bring that mf* EJ down. Can't trade, my hands are tied with EJ positions, holding from last FRIDAY.

Hi fxp, may depend on where your sell entries from Friday are located. Has the lows today got near them.
YOU, may be the holding liquidity this morning (not j/k) as open trades will figure in their aggregates, not who has opened plus closed today.
If they wont give you BE then from my experiences in GJ they can string you along lol till it suits them.

Price HAS dropped again since I saved the chart lol, good fortunes pal

.
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  • #2,437
  • Apr 16, 2023 7:40pm Apr 16, 2023 7:40pm
Quoting TimeTells
{quote} Hi fxp, may depend on where your sell entries from Friday are located. Has the lows today got near them. YOU, may be the holding liquidity this morning (not j/k) as open trades will figure in their aggregates, not who has opened plus closed today. If they wont give you BE then from my experiences in GJ they can string you along lol till it suits them. Price HAS dropped again since I saved the chart lol, good fortunes pal . {image}
I will probably hold the position until I get stopped out, as my SL is within the 50% of my Daily MAX loss limit, and also the pips collected from EU and GU drop last Friday will be used to offset the loss (if I get stopped out). Sadly for me, I won't trade until realizing this profit or loss.

Let's see.
Success = Practice + Patience + Persistence
  • #2,438
  • Apr 16, 2023 7:42pm Apr 16, 2023 7:42pm
Quoting fxpider
{quote} Bring that mf* EJ down. Can't trade, my hands are tied with EJ positions, holding from last FRIDAY.
Out of my control.


I never hold over the weekend. Hell, I don't hold over night anymore.

If I'm in a trade 30 minutes that is a long time.
Mark ... Everything you have been told is a LIE
  • #2,439
  • Apr 16, 2023 7:44pm Apr 16, 2023 7:44pm
Quoting fxpider
{quote} I will probably hold the position until I get stopped out, as my SL is within the 50% of my Daily MAX loss limit, and also the pips collected from EU and GU drop last Friday will be used to offset the loss (if I get stopped out). Sadly for me, I won't trade until realizing this profit or loss. Let's see.
I look at it as what is the best use of my capital. Does holding a position that does not allow you to possibly profit elsewhere the best use. jmo
Mark ... Everything you have been told is a LIE
  • #2,440
  • Apr 16, 2023 7:48pm Apr 16, 2023 7:48pm
Asia window done for me. Got 1 of 3.

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Mark ... Everything you have been told is a LIE
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