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  • #16,581
  • Apr 17, 2023 10:50am Apr 17, 2023 10:50am
Quoting Mdjq8792
{image}
there is support there but the candle seems a bit small to be buying pressure in my opinion

How about this one?
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EDIT: I will try again after NY lunch break. Now DOW is heading back up again. Those small trades will suffice for now.
  • #16,582
  • Apr 17, 2023 10:56am Apr 17, 2023 10:56am
Quoting bistolis
{quote} there is support there but the candle seems a bit small to be buying pressure in my opinion How about this one? {image}
I'll try that candle by placing a minor buy stop order above it. My candle is on the M30 and yours on the M1 and not at support from what I can tell but it would've worked out nice.
  • #16,583
  • Apr 17, 2023 11:00am Apr 17, 2023 11:00am
I shorted at the mark but unfortunately it wasn't meant to be. So now i am off until late NY session

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  • #16,584
  • Apr 17, 2023 1:33pm Apr 17, 2023 1:33pm
M15 EURO

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Late up today and very hung over after visit from friends yesterday.

Trading for Dummies?
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,585
  • Apr 17, 2023 1:48pm Apr 17, 2023 1:48pm
Quoting Strat
{quote} After being a little confused about where you marked the US open, I remembered you trade the futures market and are most likely referring to the US futures market open correct? Yes, 8:30am for Globex Currencies and 9:30am for Stock Market Indices New York time. What are your reasons to trade futures instead of the spot market? My trading account broker does not offer Spot Cash plus I was told long ago that it carries more risk Also please explain your thought process when you decided to take the 2 shorts and the following long that I marked...
An Italian Dane?

No, an Italian living in Denmark... brrr...
  • #16,586
  • Edited 5:02am Apr 18, 2023 2:04am | Edited 5:02am
After having clarified the definition and requirements for this particular candle after a move down, this one looked like the perfect candle to test with a minor buy stop 10 pips above the high, because it formed in the TAZ that fueled the move up last week on Wednesday. Looks good so far.
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EDIT:
Closed the trade after price rejected my monthly SR level for +47 PIPS

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  • #16,587
  • Apr 18, 2023 5:01am Apr 18, 2023 5:01am
hi, my name is Massimiliano and I'm a new user of forexfactory, I'm Italian and I've been trading for several years with bad results.
I've studied everything from cyclical analysis to volumetric footprint pattern analysis to technical analysis, but the result is always the same. I have a great distrust now that it is linked to the fact that I have tested thousands of my ideas in ninjatrader with different approaches, but the result is always the same : roulette.... I understand one thing though, it is one thing to trade on paper or in demo another is to trade in real. it's another world. . I will read, as recommended by Strat ; I want to thank in advance for the wonderful anecdote about Doctor Joe, the whole thread, and I will try to ask very few questions and talk to the images thanks to my bad English (I'm Italian and I live in Rome). Excuse the length. Have a good day.
  • #16,588
  • Apr 18, 2023 9:27am Apr 18, 2023 9:27am
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  • #16,589
  • Apr 18, 2023 9:31am Apr 18, 2023 9:31am
Quoting Max74Italy
hi, my name is Massimiliano and I'm a new user of forexfactory, I'm Italian and I've been trading for several years with bad results. I've studied everything from cyclical analysis to volumetric footprint pattern analysis to technical analysis, but the result is always the same. I have a great distrust now that it is linked to the fact that I have tested thousands of my ideas in ninjatrader with different approaches, but the result is always the same : roulette.... I understand one thing though, it is one thing to trade on paper or in demo another...
Ciao. Welcome. Keep reading, then post your trades and accept the criticism
  • #16,590
  • Apr 18, 2023 9:33am Apr 18, 2023 9:33am
ADR hit and i am out. I will keep an eye if there will be any opportunities later on after lunch break.
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  • #16,591
  • Apr 18, 2023 10:42am Apr 18, 2023 10:42am
M1 EURO

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Looks like volume and volatility has dried up even more than normal after London close.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,592
  • Apr 18, 2023 10:43am Apr 18, 2023 10:43am
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thanks Bistolis, i hope my images are clear.
  • #16,593
  • Edited 11:28am Apr 18, 2023 10:55am | Edited 11:28am
Quoting Max74Italy
hi, my name is Massimiliano and I'm a new user of forexfactory, I'm Italian and I've been trading for several years with bad results. I've studied everything from cyclical analysis to volumetric footprint pattern analysis to technical analysis, but the result is always the same. I have a great distrust now that it is linked to the fact that I have tested thousands of my ideas in ninjatrader with different approaches, but the result is always the same : roulette.... I understand one thing though, it is one thing to trade on paper or in demo another...
Benvenuto, Massimiliano !

I will try to ask very few questions

Ask as many questions as you need answers for - that is the only way to understand and learn

my bad English

Don't worry, your English is better than my Italian

I'm Italian and I live in Rome

Beautiful Country and City - when we visited in 1996, our son was convinced he had lived there before as a Roman Centurion - somehow he knew his way around Rome without looking at a map - very eerie!

TIP: If you are searching for the Holy Grail and feel the need to visit indicator threads, please stop reading on here and check them out and only come back to PASR when you have proved them worthless. Grazie!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,594
  • Apr 18, 2023 10:56am Apr 18, 2023 10:56am
Quoting bistolis
ADR hit and i am out. I will keep an eye if there will be any opportunities later on after lunch break.{image}
Oh yeah, baby!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,595
  • Apr 18, 2023 11:08am Apr 18, 2023 11:08am
Quoting Mdjq8792
After having clarified the definition and requirements for this particular candle after a move down, this one looked like the perfect candle to test with a minor buy stop 10 pips above the high, because it formed in the TAZ that fueled the move up last week on Wednesday. Looks good so far. {image} EDIT: Closed the trade after price rejected my monthly SR level for +47 PIPS {image}
Closed the trade after price rejected my monthly SR level for +47 PIPS

Well done, Mdjq8792. The proof of the pudding is in the eating as we say back home!

Does the volume indicator below your chart add value/help you in any way? If not, send it the way of all indicators.

Just a suggestion:

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There are no other traders on FF who know as much as you hence there is no need to consult or follow anyone else. Do not be distracted from PASR.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,596
  • Apr 18, 2023 11:24am Apr 18, 2023 11:24am
Quoting Strat
{quote} Benvenuto, Massimiliano ! I will try to ask very few questions Ask as many questions as you need answers for - that is the only way to understand and learn my bad English Don't worry, your English is better than my Italian I'm Italian and I live in Rome Beautiful Country and City - when we visited in 1996, our son was convinced he had lived there before as a Roman Centurion - somehow he knew his way around Rome without looking at a map - very eerie! TIP: If you are searching for the Holy Grail and feel the need to visit indicator threads,...

thanks for the welcome Strat;
in my long experience as a losing trader I have done statistical tests on all technical indicators (I am talking about tests on all timeframes with at least 1000 cases) and they are simply all losers in the long run because as you rightly say, the price is there and it is useless to go trying to interpret a derivative of the price, it will always be too late! I also did cyclical analyzes where one tries to "predict" the future and even there all clowns.... I have been looking for the holy grail only in myself , I have also traded with the chart footprint for many years (that is, trying to interpret the volumes that have been printed inside the candle in practice) but it is useless when you have been looking at the naked graphs for years, you can see all with the price! I hope I can contribute soon and ask you the right questions without you having to repeat yourself every time. Thanks for the compliments to the Rome and go Milan for tonight!! :-)
  • #16,597
  • Apr 18, 2023 11:47am Apr 18, 2023 11:47am
M1 EURO

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Risky trading through NY Lunch and little volume and volatility but it seemed the Big Boys wanted PRICE above BRN 1.10
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,598
  • Apr 18, 2023 12:01pm Apr 18, 2023 12:01pm
Quoting Max74Italy
{quote} thanks for the welcome Strat; in my long experience as a losing trader I have done statistical tests on all technical indicators (I am talking about tests on all time frames with at least 1000 cases) and they are simply all losers in the long run because as you rightly say, the price is there and it is useless to go trying to interpret a derivative of the price, it will always be too late! I also did cyclical analyzes where one tries to "predict" the future and even there all clowns.... I have been looking for the holy grail only in myself...
trying to interpret the volumes that have been printed inside the candle in practice

Volumes in Forex are as much use as a crack in a glass eye as they are not traded in a Central Exchange (as are Futures). Unfortunately, Futures retail brokers are not providing the real, accurate volume as the Banks and Funds use, which is a pity as volume was very meaningful when I traded Futures and Commodities back in the 90s.

I also did cyclical analyzes where one tries to "predict" the future

I went through that phase until I found out it was just like trying to predict what the Big Boss (wife) will say or do next!

I hope I can contribute soon and ask you the right questions without you having to repeat yourself every time

My purpose on here is to help those who are SERIOUS in wanting to be consistently profitable in trading so for those, I will repeat myself as many times as is necessary plus sometimes it is a refresher for me so ask away!

go Milan for tonight!!

Oh no, not another Pizza Man (BabaG)
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,599
  • Apr 18, 2023 12:06pm Apr 18, 2023 12:06pm
Quoting Max74Italy
{image} thanks Bistolis, i hope my images are clear.
It seems you are already moving forward on THE PATH - how easy is that to trade?

Let's see what bistolis and your fellow countryman, Mdjq8792, have to say
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,600
  • Apr 18, 2023 12:38pm Apr 18, 2023 12:38pm
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Thanks Strat,
i put the chart and my think . As i said my English is ridicolus and i prefer speak with the chart :-)
Pizzaiolo? My favourite team is Juventus :-)
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