DislikedI am a little skeptical about long for now. I little to much risk for 30 pips.Ignored
- #11,882
- Feb 18, 2008 11:54pm Feb 18, 2008 11:54pm
waiting for tc in usdcad
I have the same idea there on USD/CAD.
I'm being really patient few days back to get a perfect set-up so there won't be any bad trades taken, err got to go..
- #11,885
- Edited 1:25am Feb 19, 2008 1:09am | Edited 1:25am
.... so, the emotion of the dancers (traders) shows in their candlestick formations and leads the motion (speed and direction) of the dance. The dance (price action in bull / bear market) has certain steps or rules that prevents it turning into chaos, these rules create the rhythm that you see on the charts.
Rebecca,x.
Ryanmcd, Thanks for your idea. I have printed out some charts and will go through them many times.
Jim, Thanks, I have understood the candlestick emotions. Your charts are very helpful.
Rhythm, Motion, Emotion and Risk Reward.
- #11,887
- Feb 19, 2008 1:32am Feb 19, 2008 1:32am
Hi Aishua,
I interpret rhythm, motion and emotion as all slightly different but all working together to help analysis of a pair. This is only my interpretation and others may see things differently.
Rhythm is the way price moves, or dances, around the MA's (bursts into song... rhythm is a dancer...). Look at the current GBP/USD chart; price crashes through the 200 sma on the 31st Jan, but, mindful of the rules, goes back to the 200 (rather as a young girl at a dance would go back to an elderly lady and her mother, just to be polite, before rushing off in the direction she was headed, arm-in-arm with the 8 ema). In this case, price goes back to the 200 and the 21 before continuing in a -2 bear rhythm until around the 7th Feb. This is rhythm.
Where the MA's get tangled up together and price straddles them, going first in one direction then the other, this is where there is no rhythm.
Market motion is the activity involved in creating price movement. Large candles create large pip movements and fast motion. Look at the candles just before the 31st Jan drop. The bear (red) candles are larger than the bull candles, showing more activity. The rhythm is still +2 bull rhythm, but the motion is not really upward any more.
The market motion now begins to show some emotion (still with me?). There are lots of tails down to the 21 in the period leading up to the drop on the 31st Jan. This would usually indicate that price wants to carry on pushing up. But there is resistance to the desire to go up, you get a couple of spinners off the 8ema, and price plummets. This is the emotion showing in the candlesticks.
.... so, the emotion of the dancers (traders) shows in their candlestick formations and leads the motion (speed and direction) of the dance. The dance (price action in bull / bear market) has certain steps or rules that prevents it turning into chaos, these rules create the rhythm that you see on the charts.
Basically, it doesn't matter so much what you call it, so long as you always do a proper analysis showing direction and speed of price, type of candlestick formations now occurring, and position of the MA's relative to each other and to price. Do this before you decide whether to go long or short and whether to trade at all.
Sorry for the long reply, hope it makes sense?
If rhythm is a dancer, let's all rock this party!!!!
Rebecca,x.
You are a great lady.
Is everyone in Scotland so specific and detailed.
Wow~ that was a fantastic step by step dance.
Thanks lady!
- #11,889
- Feb 19, 2008 2:05am Feb 19, 2008 2:05am
Nice Trend Continuation forming on the gmt charts... it could still turn into a long tail....
but it does coincide nicely with the Trend Continuation on the daily chart.....
Lets wait and see..
Did I mention we should wait?
Yea I know what your thinkin.........enter early using the hourly.......well it is giving a tc ......but notice lack of resistance at 21 and that dreaded tail.......
You coulld jump the gun here and make some pips......or you could just end up shooting yourself in the foot.........I'll wait another hour....
Pipip........Jimdandy
but it does coincide nicely with the Trend Continuation on the daily chart.....
Lets wait and see..
Did I mention we should wait?
Yea I know what your thinkin.........enter early using the hourly.......well it is giving a tc ......but notice lack of resistance at 21 and that dreaded tail.......
You coulld jump the gun here and make some pips......or you could just end up shooting yourself in the foot.........I'll wait another hour....
Pipip........Jimdandy
- #11,893
- Feb 19, 2008 4:06am Feb 19, 2008 4:06am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- #11,894
- Feb 19, 2008 4:38am Feb 19, 2008 4:38am
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #11,897
- Feb 19, 2008 6:32am Feb 19, 2008 6:32am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
waiting for tc in usdcad
- #11,899
- Feb 19, 2008 6:39am Feb 19, 2008 6:39am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
AHA,, here comes the policeman
but he and this kind of comments are really necesary ,
- #11,900
- Feb 19, 2008 6:43am Feb 19, 2008 6:43am
now it breaks up but sl in more than 60pips
It's more like.. we're sitting on a bus stop and wait for a bus to come, but then the driver goes "vroommm~~" too soon and he left us.
There's always next time, buddy. We'll look for another bus.
Maybe a different bus, perhaps?