Check out what I am looking at.
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- #3,824
- Jul 23, 2009 9:49pm Jul 23, 2009 9:49pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #3,825
- Jul 23, 2009 11:37pm Jul 23, 2009 11:37pm
Woke up and found my GBPCHF long hit T/P...........very cool when that happens.....................
Must say that using this method am just about 1 Trillion Dollars on my Account.........obviously Zimbabwe Dollars
so no sweat guys/gals
Just a question...on my last posting i mentioned Tails....i read somewhere that Tails off important S/R help build confluence and show u the way.....CHRIS OR ANYONE can help on this.....Does anyone have a good understanding on tails because they are definately telling us something?
Cherrs
Must say that using this method am just about 1 Trillion Dollars on my Account.........obviously Zimbabwe Dollars
so no sweat guys/galsJust a question...on my last posting i mentioned Tails....i read somewhere that Tails off important S/R help build confluence and show u the way.....CHRIS OR ANYONE can help on this.....Does anyone have a good understanding on tails because they are definately telling us something?
Cherrs
- #3,827
- Jul 24, 2009 3:37am Jul 24, 2009 3:37am
- | Joined Oct 2008 | Status: Trader | 1,080 Posts
Grabbing the bull by the horns!
- #3,828
- Jul 24, 2009 4:03am Jul 24, 2009 4:03am
Woke up and found my GBPCHF long hit T/P...........very cool when that happens.....................
Must say that using this method am just about 1 Trillion Dollars on my Account.........obviously Zimbabwe Dollars
Just a question...on my last posting i mentioned Tails....i read somewhere that Tails off important S/R help build confluence and show u the way.....CHRIS OR ANYONE can help on this.....Does anyone have a good understanding on tails because they are definately telling us something?
Cherrs
Aren't "Tails" just the CandleStick equivalent to a "Pinbar" in Bars? Check-it-out and if so, I'd go back to study the correlation with that translation. (And I mean the visual correlation of changing the price feed from CandleSticks to Bars on the chart itself - aka OHLC or HLC, then back to CandleStick.)
That's just a functional start, if you haven't got that far already, hope you don't take offense - b/c I don't know you or anyone here - really!
Regarding confluence, another way you might read it is that once the buyers or sellers have unloaded their positions (towards the more extreme, as in the case of a 4H, Daily or Weekly "Tail/Pinbar") there's a confluence or saturation of buyers or sellers in the majority whom remain. That moves price the other way like air getting sucked out a vacuum... Another way of saying it is that all the available buyers or sellers have been sufficiently absorbed to "reverse/retrace" price.
So the buyers or sellers are causing the market to move until a saturation point is reached, which begins to slow the momentum of the direction in price - eventually dissolving the confluence again - as the buyers or sellers finish unloading their positions... Repeat process, no matter at what scale or timeframe, that's price "physics." I'm NOT saying it's THE truth or even a representation of it, just a way of perceiving it.
Thanks for your question. For this, to my understanding is what mechanism actually creates the S/R in the first place, which we eventually identify as obvious by sight. "Tails" or "Pinbars" are what we use to identify them, so you could say that S/R is really two or three times removed from what's actually happening between the buyers and sellers...
Again, this is just a functional and visual aspect of chart trading, I believe. And the "Needle" part is just the greed and fear factor of it all; ouch, not all of us can fit into that! Or can we?
A problem of relying solely on S/R or even Fibs is that the same buyers/sellers who were once at those "levels" aren't really there in just the same way this time or the next when that "same price" is approached - as in a confluence. My point is that price has a factor of uncertainty in it that can't be resolved by anything we see or conceive, which is why we trade - instead of "owning" whatever absolutely. Because to own something absolutely is impossible...
Did I just totally lose you? I hope not but if I did, let's back up; maybe there's a simpler way to say what I just said.
- #3,829
- Jul 24, 2009 4:22am Jul 24, 2009 4:22am
lol, k i will fix it - sorry.
Absolutely priceless, made me think way back in time to the local disco when Gary Numan first released it.
Thanks
“A setback is a setup for a comeback.”
- #3,832
- Jul 24, 2009 9:45am Jul 24, 2009 9:45am
I wonder if there is a big group of Japanese traders watching this thread with baited breath wondering whether to buy or sell... The yen pairs haven't been quite as volatile as this place though 
I think a lot of people have been talking a lot of rubbish about things they know not much about, hey, it's the internet.
I for one will be really glad to get back to the purpose at hand and actually discuss some trading.
On that note, no trades, far too much noise. I'm still looking for a good broker to offer me commodities, futures and cfd's for a good selection of countries.
I think a lot of people have been talking a lot of rubbish about things they know not much about, hey, it's the internet.
I for one will be really glad to get back to the purpose at hand and actually discuss some trading.
On that note, no trades, far too much noise. I'm still looking for a good broker to offer me commodities, futures and cfd's for a good selection of countries.
- #3,833
- Jul 24, 2009 9:55am Jul 24, 2009 9:55am
I used to be with MB great FX excellent execution in london hours sometimes you can steal spreads, they offer all that but Ive never traded them but if its anything like their FX Id recomend them.
I wonder if there is a big group of Japanese traders watching this thread with baited breath wondering whether to buy or sell... The yen pairs haven't been quite as volatile as this place though
I think a lot of people have been talking a lot of rubbish about things they know not much about, hey, it's the internet.
I for one will be really glad to get back to the purpose at hand and actually discuss some trading.
On that note, no trades, far too much noise. I'm still looking for a good broker to offer me commodities, futures and cfd's for...
- #3,834
- Jul 24, 2009 10:50am Jul 24, 2009 10:50am
- | Commercial User | Joined May 2007 | 7,685 Posts
I wonder if there is a big group of Japanese traders watching this thread with baited breath wondering whether to buy or sell... The yen pairs haven't been quite as volatile as this place though
I think a lot of people have been talking a lot of rubbish about things they know not much about, hey, it's the internet.
I for one will be really glad to get back to the purpose at hand and actually discuss some trading.
On that note, no trades, far too much noise. I'm still looking for a good broker to offer me commodities, futures and cfd's for...
Since you are in the UK, I think IB will offer you CFD's in at least the ASX markets.......
- #3,835
- Jul 24, 2009 10:54am Jul 24, 2009 10:54am
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
Since you are in the UK, I think IB will offer you CFD's in at least the ASX markets.......
my intbrkers acc will expire end of month if still haven't deposit it
- #3,837
- Jul 24, 2009 12:08pm Jul 24, 2009 12:08pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
- #3,840
- Jul 24, 2009 12:38pm Jul 24, 2009 12:38pm
- | Commercial User | Joined May 2007 | 7,685 Posts
c: sometimes I think that you could be an IB agent hahaha... who could have that power to influence ff to change rule thinking...
my intbrkers acc will expire end of month if still haven't deposit it
The rule changes were coming anyways......