Trading W/ Smart Money | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading with Smart Money Concepts 0 replies

Price Action & Fundamentals with Smart Money 79 replies

Discussion about Smart Money 1 reply

Trading Smart Money 2 replies

Attachments: Trading W/ Smart Money
Exit Attachments

Trading W/ Smart Money

  • #61
  • May 13, 2009 10:09am May 13, 2009 10:09am
Any current action that is taking place cannot alter the strength or weakness that is embedded (and latent) in the background. It is vital to remember that near background indications are just as important as the
most recent.

As an example, you do exactly the same thing in your life. Your daily decisions are based on your background information and only partly on what is happening today. If you won the lottery last week, yes, you might be buying a yacht today, but your decision to buy a yacht today will be based on your recent background history of financial strength appearing in your life last week. The forex market is the same. Today’s action is heavily influenced by recent background strength or weakness, rather than what is
actually happening today (this is why 'news' does not have a long-term effect). If the market is being artificially marked up, this will be due to weakness in the background. If prices are being artificially marked down, it will be due to strength in the background.
{Promotion Removed}
  • #62
  • May 14, 2009 12:50am May 14, 2009 12:50am
I'm still in these overnight positions, looking to profit today, if you've been following the daily charts, you've seen that yesterday down move closed on low spread which means smart money wasn't supporting that down move. All the while I was buying like crazy on those down moves. I realized that all that strength remained in the background.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 75 KB
{Promotion Removed}
  • #63
  • May 14, 2009 12:55am May 14, 2009 12:55am
Quoting pipsr4kids
I'm still in these overnight positions, looking to profit today, if you've been following the daily charts, you've seen that yesterday down move closed on low spread which means smart money wasn't supporting that down move. All the while I was buying like crazy on those down moves. I realized that all that strength remained in the background.
If my trades workout like I plan I should be sitting on 600+ pips
{Promotion Removed}
  • #64
  • May 14, 2009 12:58am May 14, 2009 12:58am
Quoting pipsr4kids
If my trades workout like I plan I should be sitting on 600+ pips
Only one thing that will rain on this parade is that US Unemployment Report, so I'm planning for this again, same scenario, people are going to start selling EUR again and I'm going to be buying on dips. Good thing is after today no more news from US to rain on this party.
{Promotion Removed}
  • #65
  • May 14, 2009 1:19am May 14, 2009 1:19am
Still going strong, I drew a yellow trend line, which I'm hoping EUR will follow to hit that overshoot before US Open! Then I can begin to unload!
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 70 KB
{Promotion Removed}
  • #66
  • May 14, 2009 2:02am May 14, 2009 2:02am
So, for that eurusd move, you looked at the daily first???
and what did you see???

I am asking because im looking at euro on the daily and dont really see any strength after that down day on high volume. I understand a down day on high volume may be construed as strength but there must be other signs in the backround to support that?? Can you please clarify what else leads you to believe that the pair is due for a rise??


btw, please keep up the great analysis, i am learning alot

thanks
  • #67
  • May 14, 2009 2:14am May 14, 2009 2:14am
Still going strong, riding that strength to the top!

View the pattern everytime you get a down bar you get a low spread,this is b/c pro's are bullish on EUR, so they don't support the down bars on the daily chart. The spread is your gauge for how bullish or beairsh the pro's are on the candle movements. Fundamentals, show dollar weak, so what happens you get the US data out which is strong so EUR weakens on the news and you get pro's accumulating and I was following thier footsteps, The pair will again close up, however this data again today may cause EUR to falter again slighty, so we should get another pullback.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 69 KB
Click to Enlarge Name: chart2.gif Size: 29 KB
{Promotion Removed}
  • #68
  • May 14, 2009 5:53am May 14, 2009 5:53am
Got it! Thanks. And the news affected the euro as you thought and the pros are getting good deals right now lol
  • #69
  • May 14, 2009 5:57am May 14, 2009 5:57am
Quoting pipsr4kids
Still going strong, riding that strength to the top!

View the pattern everytime you get a down bar you get a low spread,this is b/c pro's are bullish on EUR, so they don't support the down bars on the daily chart. The spread is your gauge for how bullish or bearish the pro's are on the candle movements. Fundamentals, show dollar weak, so what happens you get the US data out which is strong so EUR weakens on the news and you get pro's accumulating and I was following their footsteps, The pair will again close up, however this data again today may...
yup, like i predicted no matter, judging from the daily spread this doesn't appear like smart money is going to support this down move either.
{Promotion Removed}
  • #70
  • May 14, 2009 6:00am May 14, 2009 6:00am
Quoting wowzers
Got it! Thanks. And the news affected the euro as you thought and the pros are getting good deals right now lol
yes, don't be afraid of negative pips, your going by knowledge you see from the chart, the charts can't hide the true story..All these people selling are weak holders and will have to pay up when the distribution phase starts again.
{Promotion Removed}
  • #71
  • May 14, 2009 6:09am May 14, 2009 6:09am
Again I'm a buyer at these levels..
{Promotion Removed}
  • #72
  • May 14, 2009 6:14am May 14, 2009 6:14am
Quoting pipsr4kids
yes, don't be afraid of negative pips, your going by knowledge you see from the chart, the charts can't hide the true story..All these people selling are weak holders and will have to pay up when the distribution phase starts again.
The forex market works like supply and demand like all markets,excess supply prices go on sale, professionals buy their merchandise on sell they don't pay up for it,weak holders do.You should get in the mindset of professionals, be patient also while you hold the merchandise your getting compensated in the form of interest from the rollover. All the better when the markup phase begins your win twice.
{Promotion Removed}
  • #73
  • May 14, 2009 6:23am May 14, 2009 6:23am
Looks like the market may have priced in this last down move in the EUR, b/c I see a rally beginning. I sure hope you got your merchandise on sale.
{Promotion Removed}
  • #74
  • May 14, 2009 6:45am May 14, 2009 6:45am
It would surprise me if we close up today and Friday.I see we have a rally going on from the daily chart,if this holds Friday were closing up!
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 29 KB
{Promotion Removed}
  • #75
  • May 14, 2009 7:58am May 14, 2009 7:58am
shoot me an email, nothing much to analyze right now..
{Promotion Removed}
  • #76
  • May 14, 2009 8:14am May 14, 2009 8:14am
Surprisingly the EUR is showing some resilience as it continues to stay above that uptrend line in green. Like I've said if it can hold above that line like I anticipate Friday EUR will rally.Once it breaks that major resistance line, then its full fledged rally.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 42 KB
{Promotion Removed}
  • #77
  • Edited 8:28am May 14, 2009 8:16am | Edited 8:28am
Quoting pipsr4kids
Surprisingly the EUR is showing some resilience as it continues to stay above that uptrend line in green. Like I've said if it can hold above that line like I anticipate Friday EUR will rally.Once it breaks that major resistance line, then its full fledged rally.
I hope we can get strong volume across that resistance line!
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 71 KB
{Promotion Removed}
  • #78
  • May 14, 2009 8:30am May 14, 2009 8:30am
Daily charts still showing smart money supporting this up move overall in the EUR.
{Promotion Removed}
  • #79
  • May 14, 2009 8:31am May 14, 2009 8:31am
GO BULLS!
{Promotion Removed}
  • #80
  • May 14, 2009 8:32am May 14, 2009 8:32am
Volume on the daily charts is just about average so not showing any excess supply! Were going up from here.
{Promotion Removed}
0 traders viewing now