But your not explaining price action to others. How does price action tell you this?
Cable Update (GBPUSD)
- #134,505
- May 28, 2009 2:38am May 28, 2009 2:38am
- | Joined Aug 2008 | Status: Always a student | 112 Posts
Look at high and low...
When you got higher high and higher low, its going up.
When you got lower high, lower low, its going down.
When you have a move up, then a low, watch for that low to be broken before goin short...
Each candle make a 0-100, then you can plot a mental fibonacci ratio on it, if previous bar is not cover by more then 100% (lol) we are still in a trend.... if a candle low is broken, then trend have change...
stop reading books and all stupid thing around, look, you will see!
1.5925 next stop, we are going to erase...
. Then you come along and give one of the best and simplist explainations I have read. Kudos to you.
- #134,507
- May 28, 2009 2:43am May 28, 2009 2:43am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
That is a really nice explaination of price action. I love it. I just hate it when someone says to use something but they don't really explain it. That's what I was trying to pull out of the others who were saying to use price action. What does it mean? I know what it means, but I wasn't screaming to use it either
that's great.....but....time frame plays a huge role.
TRADE FOR SWAP
- #134,510
- May 28, 2009 2:49am May 28, 2009 2:49am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
- #134,512
- May 28, 2009 2:55am May 28, 2009 2:55am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
- #134,513
- May 28, 2009 2:56am May 28, 2009 2:56am
Look at high and low...
When you got higher high and higher low, its going up.
When you got lower high, lower low, its going down.
When you have a move up, then a low, watch for that low to be broken before goin short...
Each candle make a 0-100, then you can plot a mental fibonacci ratio on it, if previous bar is not cover by more then 100% (lol) we are still in a trend.... if a candle low is broken, then trend have change...
stop reading books and all stupid thing around, look, you will see!
1.5925 next stop, we are going to erase all...
A1 A1 A1!!!!!!!You did a nice and transparent explication.Thnks for sharing this.
- #134,514
- May 28, 2009 2:58am May 28, 2009 2:58am
- | Joined Aug 2008 | Status: Always a student | 112 Posts
so, we have lower high and lower low on cable H1 - it's going down, but you also say it's going up!
So to you it is still down, and you are right according to the 1 hour. For those on a shorter time frame they say up and they are right also. He who wins is the one who hits their daily profit target, or at least has a profit.
. You may win too, depends on how long you stay in. 
- #134,515
- May 28, 2009 3:02am May 28, 2009 3:02am
- | Commercial User | Joined Feb 2008 | 1,440 Posts
Each bar make a 0-100% move, then you can imagine separate it into 3 part. Top, middle, bottom.
Most of the time, you ll have a bar up, then the wick of next one getting to the middle of previous one, then reattack first bar top.
If you got a first bar up, then the second bar is down but dosen't get lower then the bottom of the first one, we are still up......next bar can re-attack firts bar top... up trend is still in act.
When you get a candle that is fully erase by the next one, trend is changing cause buyer can't handle the selling pressure.
--------------------------
What about the market itself..... hehe! When a bank enter the market, the only way to cash is to get rid of all orders in hands, and the only way is to find a area where you got a lot of order that been open. So that's why price always go back to where a move start, because its there that the most order can be filled afterwhile, since everybody is putting a breakeven stop or trailing their profit...
Any move erase the other one to the enter, to the exit.... action, reaction.... Think about it, they are running after peeps that hold into long term profit, and that's why you get stop out most of the time
Enter at exit, exit at enter.... and don't hold profit LOL
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1.5930, my point and my night is done....
Most of the time, you ll have a bar up, then the wick of next one getting to the middle of previous one, then reattack first bar top.
If you got a first bar up, then the second bar is down but dosen't get lower then the bottom of the first one, we are still up......next bar can re-attack firts bar top... up trend is still in act.
When you get a candle that is fully erase by the next one, trend is changing cause buyer can't handle the selling pressure.
--------------------------
What about the market itself..... hehe! When a bank enter the market, the only way to cash is to get rid of all orders in hands, and the only way is to find a area where you got a lot of order that been open. So that's why price always go back to where a move start, because its there that the most order can be filled afterwhile, since everybody is putting a breakeven stop or trailing their profit...
Any move erase the other one to the enter, to the exit.... action, reaction.... Think about it, they are running after peeps that hold into long term profit, and that's why you get stop out most of the time
Enter at exit, exit at enter.... and don't hold profit LOL
---------------
1.5930, my point and my night is done....
- #134,516
- May 28, 2009 3:05am May 28, 2009 3:05am
Each bar make a 0-100% move, then you can imagine separate it into 3 part. Top, middle, bottom.
Most of the time, you ll have a bar up, then the wick of next one getting to the middle of previous one, then reattack first bar top.
If you got a first bar up, then the second bar is down but dosen't get lower then the bottom of the first one, we are still up......next bar can re-attack firts bar top... up trend is still in act.
When you get a candle that is fully erase by the next one, trend is changing cause buyer can't handle the selling pressure....
Thanks.Sleep well !
- #134,520
- May 28, 2009 3:36am May 28, 2009 3:36am
- | Commercial User | Joined Feb 2008 | 1,440 Posts
i really dont know whats so nice abt this.... so much confusion.. guys be careful... another secret to trading forex is "MAKE IT SIMPLE"
It's the most common concept of trading... DOW theory, yes, a guy been named DOW before the index...
As reading bars... in relation to each others... its call PA...
Reading indicators is way more complicated.
"Does my RSI is over 50, or under, or over 70 or under 30... what about the macd, or the momentum, or the stochastic... are they matching" Muahhahahah!
zeroing concept is only a the overlook of what's happening, you get stop out most of the time because they are really hunting your stop, yes, really!
sorry i'm having fun