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  • #441
  • Mar 15, 2009 4:45am Mar 15, 2009 4:45am
Quoting AminAS
I found a few little mistakes I am sure you threw in there on purpose...

EUR/JPY - Support should be more like 124.40, not 124.70. The next support at 123.70 is fine.
No mistake

EUR/USD - The last swing low is on March 4th, definitely not on March 6th. Also, 1.2750 corresponds with the 50% retrace, not the 38.2%.
BOSS chart - week - ending March 6th
No, 1.2750 corresponds with the 50% retrace,
GBP/USD - When price rebounded from 1.3900, it banged up on the 50% retrace, not the 61.8%. Also, the trendline was broken by a massive BEOB on March 9th.
NOT ON MY DATA!

USD/CAD - 1.2650 or 70ish seems like a more prominent support than the candle low at 1.2620. This is not a mistake, just my own opinion.
Support is correct. My support and resistance NEVER goes at candle extremes

USD/JPY - Your trader's manual should say wait for a confirmation candle or a break of the candle low previous to enter short. Right? This would be on
BOSS, but an exhaustion candle on the daily would provide a good entry.
Correct

I think there are still more mistakes in there, but I have to run for the night.


Here Comes The Night (Them - Van Morrison)

Don't think so. Looks like what you're seeing is the difference in data feed
15 YEARS OF PASR ON FOREX FACTORY!
  • #442
  • Edited 4:55am Mar 15, 2009 4:52am | Edited 4:55am
Quoting Toddfx
BOSS 20 is the 20 period sma, right? I searched this thread but just want to make sure.

http://i43.tinypic.com/znv3hx.gif
We have a 20ema and a 50sma which tells us about the Daily and on the same chart we have a 100ema and a 250sma which tells us what the BOSS is doing.

The 100ema on the Daily chart is the same as a 20ema on the Weekly (20(daily) x 5 (days in a week) = 100)
The 250sma on the Daily chart is the same as a 50sma on the Weekly (50(daily) x 5 (days in a week) = 250)

In each case, the 20 is more powerful than the 50

Hope this clarifies it

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #443
  • Mar 15, 2009 4:58am Mar 15, 2009 4:58am
Quoting elitejets
Yes, but it is a 20 EMA not SMA

Sorry - should have added, to show the weekly 30ema on your daily chart you need to put in a 100EMA and make it a different colour to the 20ema to differentiate (mine is thicker and darker)
And Strats charts also show the daily and weekly 50 SMA's. To show the weekly 50 SMA on your daily chart you need to add the 250 SMA and again make it a slightly different or thicker colour.
Well that is what I do anyway.
Hope that makes sense!
Nicola
Spotted your DELIBERATE mistake of 30ema - see I do read all the posts!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #444
  • Mar 15, 2009 5:14am Mar 15, 2009 5:14am
Another magnificent weekly round up.....You use trend lines...interesting doctor...from the body of the candal do you.....So you got the ema and sma, trnd line and S/R.Is that all the topping you want on your pizza price action.

Well noones into guess your supple on the old sipple...i say Bitter,you drink Bitter...G
  • #445
  • Mar 15, 2009 5:52am Mar 15, 2009 5:52am
Well noones into guess your supple on the old sipple...i say Bitter,you drink Bitter...G[/quote]


maybe he likes a stout!!!! that sh#t will put hairs on your manly chest lol
  • #446
  • Mar 15, 2009 6:27am Mar 15, 2009 6:27am
Quoting strat
Spotted your DELIBERATE mistake of 30ema - see I do read all the posts!

Rock n Roll,
Strat
I should not type messages at midnight. I meant the 20ema sorry.
  • #447
  • Mar 15, 2009 10:00am Mar 15, 2009 10:00am
Quoting Baba G
Another magnificent weekly round up.....You use trend lines...interesting doctor...from the body of the candal do you.....So you got the ema and sma, trnd line and S/R.Is that all the topping you want on your pizza price action.

Well noones into guess your supple on the old sipple...i say Bitter,you drink Bitter...G
No need to guess - Guinness - it puts lead in my pencil!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #448
  • Mar 15, 2009 10:09am Mar 15, 2009 10:09am
OK. Got it. Thanks.

Attached Image (click to enlarge)
Click to Enlarge Name: !!!!_1.gif Size: 17 KB
TRO
  • #449
  • Mar 15, 2009 11:13am Mar 15, 2009 11:13am
The guy who put up the re-painting HMA and Semafor crap made me think. There is only ONE WAY to read price action and that is with reading what the price bars tell you.

For those of you on here, who are pretending to read price action but have still got a squiggly line at the bottom of your charts, this is for YOU.

As long as you have an indicator underneath your price bars, you will NEVER, EVER learn price action. That squiggly line will still DOMINATE your sub-conscious and fool you into a false sense of security. I know, because I have done it and failed at it.

The only way you are ever going to learn to read price action is to strip everything off your charts except PRICES whether it be OHLC bars or candles.

Yes, it will be ONE HELL OF A SHOCK, but it will FORCE you into looking at the OHLC/candles more AND support and resistance. It won't come easy but if you are DETERMINED and PERSEVERE, you will get there.

If you take the easy way out, and refer it back to a squiggly line below the prices, then that is what you will end up doing for the trest of your trading career.

From now on, anyone who posts a chart with anything on it except maybe volume and wants an opinion on it, then they can go and whistle "Dixie".

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #450
  • Mar 15, 2009 11:46am Mar 15, 2009 11:46am
Quoting strat
Bill,

No, I didn't take it as that. I just think you will be even more confused until you get your light on.

P&IDs - I used to hate those damned things - that's why I left engineering and went into sales!

So Bill, I'm going to publicly lay down a challenge to you. If you promise to stick to the rules without deviation, work hard, practice and practice, and stick your trigger finger up where the sun don't shine and STOP looking for trades that aren't there, I will work with you until your light comes on and you have crossed over to being a...
Hi, Strat,
Well here I am printing off stuff to study on a Sunday afternoon. Just back from a nice afternoon with the kids and they want to watch SpongeBob SquarePants - The Movie on DVD. I promised I'd watch with them. So, the printer is just about finished and I have earplugs at the ready.:nerd:

I think you'll find the answer to your challenge in my not very cryptic clues above.
Honest Bill
  • #451
  • Mar 15, 2009 11:58am Mar 15, 2009 11:58am
"The guy who put up the re-painting HMA and Semafor crap made me think. There is only ONE WAY to read price action and that is with reading what the price bars tell you."

I was the one who posted a chart with the 3 Level ZZ Semafor. It works just fine if you understand what it is telling you. Indicators come in more than one "flavor". Most traders make the mistake of thinking all indicators can be used to determine when you should enter a trade. That is not the case. I agree that any wiggly line is crap.

If you use moving averages on your chart, I could argue that those wiggly lines are crap, too. But, this is your thread and I won't debate the issue. That's OFF TOPIC. Suffice it to say that the 3 Level ZZ Semafor works for me and that is all that matters to me.

"From now on, anyone who posts a chart with anything on it except maybe volume and wants an opinion on it, then they can go and whistle "Dixie"."

Do you really believe the retail Forex brokers are going to give accurate volume data so the whole world will know how much business they are doing? I DON'T THINK SO!!
TRO
  • #452
  • Mar 15, 2009 12:21pm Mar 15, 2009 12:21pm
Hi Strat,

What an outstanding bit of true & valueable infomation you shared in that post. The OLD DOC was spot on in his assessment of what he saw on the floor, but the problem for many will be the same as it was for you.....they will just ignore the obvious is search of the all elusive Holy Grail Of Trading that only exist within the Trader himself. In the beginning, I TOO fell into that camp as the hunt for the next best system or method consumed all of my energy & time all the while my losses kept increasing. Now it is clean charts & PRICE ACTION only.

Did you have any in person to person contact with the DOC? How many yrs did he trade before he passed? Just that ONE DAY DOC spent of the floor watching the action he learned more than most will learn in months or even yrs trying to trade.

Hats off to the DOC, as he clearly had a grasp of how its done.

These are just my views & nothing more. You have opened up a nice topic & I thank you for sharing your trading experiences & look forward to seeing more on the subject. Another breath of fresh air in the trading world.

__________________________
AceTrader
  • #453
  • Mar 15, 2009 12:27pm Mar 15, 2009 12:27pm
Quoting Honest Bill
Hi, Strat,
Well here I am printing off stuff to study on a Sunday afternoon.
Same here, studying on a Sunday afternoon. Gotta keep up as I've a feeling this thread will be a biggie.
  • #454
  • Mar 15, 2009 12:28pm Mar 15, 2009 12:28pm
Quoting Toddfx
"The guy who put up the re-painting HMA and Semafor crap made me think. There is only ONE WAY to read price action and that is with reading what the price bars tell you."

I was the one who posted a chart with the 3 Level ZZ Semafor....
The 3 Level ZZ Semafor keeps repainting and repainting highs and throwing out it's stupid "3" until EVENTUALLY it is a swing high - It is an indicator painting past history using moving averages - see below for copy of first lines of program:

3_Level_ZZ_Semafor.mq4 |
//+------------------------------------------------------------------+
#property copyright "asystem2000"
#property link "[email protected]"

#property indicator_chart_window
#property indicator_buffers 6
#property indicator_color1 DimGray
#property indicator_color2 DimGray
#property indicator_color3 DimGray
#property indicator_color4 DimGray
#property indicator_color5 Lime
#property indicator_color6 Red



extern bool Sound.Alert = false ; // TRO
extern string Sound.File = "ahooga.wav" ; // TRO

//---- input parameters
extern double Period1=5;
extern double Period2=13;
extern double Period3=34;
extern string Dev_Step_1="1,3";
extern string Dev_Step_2="8,5";
extern string Dev_Step_3="13,8";

Yes, my method uses moving averages but NOT to tell ME when we are at a swing high - I can do that far better with the indicator I was born with - my eyes and brain.

If you ever read anything posted on this thread you would know that I acknowledged that Volume posted by the brokers is SAMPLING volume. You should have also noted that I said I use it to confirm PRICE ACTION. You should have also noted that I don't give a rat's ass what YOU think!

Next question?

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #455
  • Mar 15, 2009 12:35pm Mar 15, 2009 12:35pm
From post #43:

He said I would only be wrong twice using his simple method: “Once when you buy at the top and once when you sell at the bottom.” I just ignored this as a smart – ass answer but still tried to do what he said. Unfortunately, and as Sod’s law dictates, I tried to do it in a consolidation and lost on every trade which had me buying when I should have been selling etc. I tried and lost again and then eventually lost my way in the quest for the Holy Grail in Indicator Land. Now, with all my experience and thousands of lost $ behind me, the light came on! My understanding of what he was telling me is this: Buy when prices are moving up. Buy each retrace/dip. Keep buying until the last retrace becomes a trend change which is the one trade you lose on. Sell when prices are moving down. Sell each retrace/rally. Keep selling until the last retrace becomes a trend change which is the second trade you lose on.

That's what I use the 3 Level ZZ Semafor to do.
TRO
  • #456
  • Mar 15, 2009 12:38pm Mar 15, 2009 12:38pm
If you ever read anything posted on this thread you would know that I acknowledged that Volume posted by the brokers is SAMPLING volume. You should have also noted that I said I use it to confirm PRICE ACTION. You should have also noted that I don't give a rat's ass what YOU think!

Duly noted.
TRO
  • #457
  • Edited Mar 16, 2009 11:06am Mar 15, 2009 1:15pm | Edited Mar 16, 2009 11:06am
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
http://i44.tinypic.com/14b58uh.jpg

Boss USD/JPY "rejected by 5 layers of resistance "

mmm..... could be simple as that!
  • #458
  • Edited 1:58pm Mar 15, 2009 1:53pm | Edited 1:58pm
I stayed out of Crude on Friday because of the Opec meeting today (they meet four times a year to decide production). Today they have announced they are not making any further cuts ..

Here is the Brent Crude daily chart, the US crude chart is similar. The weekly pin shows a long legged doji. much as you would expect the week before the Opec meeting.
A week ago I wasvery bullish on crude but now I think we are going down again, no matter what the indices do. The demand is just not there at the moment. If we break out of the lower support (trend) line then it would be very interestesting.

Nicola
Attached Image (click to enlarge)
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  • #459
  • Mar 15, 2009 1:57pm Mar 15, 2009 1:57pm
Strat i was just gonna start throwing in charts with the M.As on and sort of say "well?" when a bit of price action showed up.In fact what do you think the best way is?This is what i know of M.A.s James 16 base and price actions at those levels.I gave up on "touch" entrys as i would have to change mi pants everytime i filled a ticket mostly on "instant exe" both my order and my bowls with it.So i gave up on that bit but i marveled when we got a bit of on trend price on a "first time back" (SEE USD/CAD DAILY ZOOM RIGHT OUT YOULL SEE) and some nice weekly IB breaks off one of the M.As.Basicaly i have seen and have alot of respect for the "Base system" and M.As.Application this is the thing.Before as you said the M.A would swerve my eye but fortunatly daily base dosnt produce that many signals and when they do there good as price seems to "get in order" around those levels so it is a pure Price action call anyway but the M.A. kind of makes it a wee bit sweeter if you know what i mean.I never completed my 4 and lower time frame studies as the daily rocks and i couldnt read the bars well then ether anyway i digress.Is this the vibe?Cause if that is the case i want a cherry on my cake right now...cause i can...G
  • #460
  • Mar 15, 2009 2:02pm Mar 15, 2009 2:02pm
Look at all that beautiful weekly price action on trend...twinkle twinkle little star.then that horrible Central Wank channel......sorry.
My demos run out i was gonna show my oil daily.....bollocks.Ive not been demoing much recently it seems to be the case that there is no romance without no finance
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