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  • #6,861
  • Oct 26, 2009 11:14am Oct 26, 2009 11:14am
Quoting strat
You will come horribly unstuck basing any forex trading decisions on volume.

You should read my posts on why volume in forex is totally meaningless before going any further.
I know that the volume is not the real volume as the volume in stocks market. But instead is the tick volume and each broker has another value for it. I havent used it before. I thought that you use volume for your Forex analysis.
  • #6,862
  • Oct 26, 2009 11:22am Oct 26, 2009 11:22am
Quoting mstandifer
Gentlemen, thank you for the feedback....
YES, IT REALLY IS THAT SIMPLE!

Not so much the psycho levels but more the SR levels and often they are in confluence.

The simplicity of trading is what the majority of traders cannot understand - they want to make it as complex and as difficult as they can.

If you were to look at mine and Blackeagle's trading charts, you would see EVEN LESS SR lines.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,863
  • Oct 26, 2009 11:41am Oct 26, 2009 11:41am
Quoting mstandifer
If my previous post is anything close then tell me if I'm reading the past correctly here (I'm seeing that just because you can see what happened in the past, doesn't mean you understand it correctly)

On close of April 1st you are able to draw your first trend line from March 10th and with that bar making a sweet shooting star, a close below psych 1.2600 and a technical LH swing confirmation....
While what you have drawn is correct, it is not accurate for my method/strategy.

Here is the accurate DSRI Demand line for trading.

Again, I am not getting into DSRI Demand and Supply because it is a subject in itself.

There is sufficient PASR on this chart for anyone to be successful and very profitable without being distracted by DSRI Demand and Supply.

Focus on PASR and swings for now.

Learn a bit at a time and UNDERSTAND it so that you can do it in your sleep. Then, when that is accomplished, get the next piece of the jigsaw and do the same with that.

Something about eating an elephant one bite at a time!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 40 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,864
  • Oct 26, 2009 11:42am Oct 26, 2009 11:42am
Quoting soso

USDCAD didnt reach (my) Weekly resistance yet...
Hi Soso,

Home today with the bug. Tried looking for 1.068 on my Alpari UK as a resistance zone ... not seeing anything really..
Do see 1.063 which we are at now.
  • #6,865
  • Oct 26, 2009 11:48am Oct 26, 2009 11:48am
Quoting mstandifer
Sorry for all the posts in a row here but I need to know if I've crossed some sort of mental hurdle here or if I'm just making this stuff up...

Sell it till is stops going down...so on the next confirmed swing high, as Strat and Blackeagle pointed out on the bigger picture, and again not doing analysis on the boss and big boss, you would sell.

You would know that was a loosing trade if you traded the larger trend because the next confirmed swing low would be negated by the next confirmed swing high if it was above the next most recent swing high?

Using...
Yes, apart from "not doing analysis on the BOSS and BIG BOSS"

You must have forgotten the Higher Order of Time Frames.

Never, ever trade without FIRST analysing the BIG BOSS, then the BOSS and finally using the Worker to trade the results of that analysis.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,866
  • Oct 26, 2009 11:55am Oct 26, 2009 11:55am
Quoting soso
Strat, regarding GBPCAD what are the levels you wait for? My nearest Weekly resistance lines are 1.753 and 1.765, first one was touched Friday and left us with the BEOB.

USDCAD didnt reach (my) Weekly resistance yet...

P.S. Regardless, it is true I need to excersise more patience. It is one psychological shortcoming that I recognized during my trading...
On my GBPCAD data I am watching 1.7360 to 1.7425 resistance and 1.7080 to 1.6970 support.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,867
  • Oct 26, 2009 11:57am Oct 26, 2009 11:57am
Quoting hcristea
I know that the volume is not the real volume as the volume in stocks market. But instead is the tick volume and each broker has another value for it. I havent used it before. I thought that you use volume for your Forex analysis.
You have not read far enough on the thread, my friend!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,868
  • Oct 26, 2009 12:00pm Oct 26, 2009 12:00pm
Quoting Lou
Hi Soso,

Home today with the bug. Tried looking for 1.068 on my Alpari UK as a resistance zone ... not seeing anything really..
Do see 1.063 which we are at now.
On my data, the USDCAD level I am watching is 1.0670 resistance.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,869
  • Oct 26, 2009 12:20pm Oct 26, 2009 12:20pm
The USDCAD chart I just posted is also a beautiful example in SEEING BEYOND THE CANDLES.

From around the beginning of the year, the plot was beginning to reveal itself.

As the weeks went by, the buyers were leaving HUGE FOOTPRINTS behind and it was just a matter of time before the sellers took back control around mid March.

This happens over and over again on every pair.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,870
  • Oct 26, 2009 1:28pm Oct 26, 2009 1:28pm
Quoting strat
The USDCAD chart I just posted is also a beautiful example in SEEING BEYOND THE CANDLES.
I sent a PM to Strat on my Light Bulb moment and he asked that I share it with the thread in hopes this might offer encouragement or help someone else have a Light Bulb moment. I don't typically share things like this with the public but if I changed the content in order to share it, it wouldn't convey my original thoughts as I meant them to be...

"...
Originally Posted by mstandifer
Strat, I don't want to post this in the forum because moments like this are, for me, private... but HOLY SHIT!!!

I realize that I still have almost no idea what's really going on but I'll be damned if it isn't starting to make some real sense!

I feel like I'm close to something and I may be way off base but I found it hard to remain seated as the swing concept (LL LH) thing clicked in my head. When you said your piece about zooming out and Blackeagle said his about not focusing on individual bars (as they relate to LH and LL only) that did something.

I do understand the importance of higher timeframes (just read your last post), poor choice of wording on my part by saying "not doing analysis on boss and big boss"...I only meant I was using that chart for educational purposes of recognizing a swing in an isolated context.

The information in this thread is priceless. I mean that with all sincerity. My trudging through the thread has slowed as I'm reaching information overload; up to page 267. I can already tell that I'm going to have to read this twice, not necessarily because I'm not getting the first time around but because there are such valuable pieces there that I know there's no way I'll remember it all first time.

I'm sure you get inundated with crap PM's wanting to know all manner of pointless details or to blow smoke but...

Number 1: Thanks for remaining active on your thread and putting up with it.
Number 2: Thanks for posting sincere responses to things you probably consider repetitive or so simple the poster should see it already.

I'm sure you also see lots of 'I'm serious about this' type PMs and posts and take them with a grain of salt so Number 1 and Number 2 above mean that much more.

I'll say it again, though, for the record. I'm extremely serious about this and remain committed to following it through. I appreciate your dedication to this thread and by proxy me and my trading education; I don't know how you manage it. I've read the material on the members index and continue to plug through the thread, although it's difficult to divide time between thread reading and chart studying.

I know we have to see this for ourselves as we go along but I'm always open to unsolicited instruction.

-m

P.S. Thanks for the TITZ...can never have enough.
  • #6,871
  • Oct 26, 2009 2:08pm Oct 26, 2009 2:08pm
Quoting strat
On my data, the USDCAD level I am watching is 1.0670 resistance.
from Soso, 1.068 resistance zone ...

Do see 1.063 which we are at now.

I think of S/R lines as zones anyway. 1.0630 - 1.0680
  • #6,872
  • Oct 26, 2009 4:19pm Oct 26, 2009 4:19pm
Quoting Lou
Hi Soso,

Home today with the bug. Tried looking for 1.068 on my Alpari UK as a resistance zone ... not seeing anything really..
Do see 1.063 which we are at now.
Hello Lou,

By Weekly SR at 1.068 I mean the SR that is drawn through CLOSES, usually I do it using the line chart because it is easier. This is what I understood reading Strat's thread that SR through closes, especially on larger timeframes like weekly and monthly, are very good SR lines. And until now (with my limited experience!) they proved to be very good SR lines.
On Daily though I also use SR zones ala James16, but am more and more inclined to use SR lines through closes on Daily too.
Maybe Strat can comment a little more regarding this, I may have it wrong...

Attached is the USDCAD Weekly and what I see on it. Strat found 1.067 but they are close enough in my eyes...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 28 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,873
  • Oct 26, 2009 4:21pm Oct 26, 2009 4:21pm
I second everything you said.

Reading, re-reading and applying all the brilliant information on this thread of Strats is sinking in slowly but surely for me.

Strat, Black, Grim, Elite, Alexandra, Naws, Aston, Lotus and everyone else who contribute. Please keep it up, always very helpful, inspirational and very much appreciated.

One day I hope to contribute and give something back.

Thankyou all.

Back to my charts.
  • #6,874
  • Oct 26, 2009 4:24pm Oct 26, 2009 4:24pm
Quoting strat
On my GBPCAD data I am watching 1.7360 to 1.7425 resistance and 1.7080 to 1.6970 support.
Ok with the risk of being send back to The Beginning Path Of Learning , I can't find those resistance levels on my Weekly feed (am looking at CLOSES). May I ask what are you looking for on the Weekly chart?

Thanks!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,875
  • Oct 26, 2009 4:37pm Oct 26, 2009 4:37pm
Quoting mstandifer
I sent a PM to Strat on my Light Bulb moment and he asked that I share it with the thread in hopes this might offer encouragement or help someone else have a Light Bulb moment. I don't typically share things like this with the public but if I changed the content in order to share it, it wouldn't convey my original thoughts as I meant them to be...
....
Well said mstandifer, feeling the same way. This thread is GOLD, really. Many thanks to Strat, Blackeagle and everyone putting up time to share their knowledge with us!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,876
  • Oct 26, 2009 4:38pm Oct 26, 2009 4:38pm
Quoting soso
Hello Lou,

By Weekly SR at 1.068 I mean the SR that is drawn through CLOSES, usually I do it using the line chart because it is easier. This is what I understood reading Strat's thread that SR through closes, especially on larger timeframes like weekly and monthly, are very good SR lines. And until now (with my limited experience!) they proved to be very good SR lines.
On Daily though I also use SR zones ala James16, but am more and more inclined to use SR lines through closes on Daily too.
Maybe Strat can comment a little more regarding...
I Soso,

Afew minutes ago I opened my charts went to U/CAD and drew a trendline on the Weelkly LINE chart, connecting the highs.... to take a look at it. Then I went to the forum and there was your post !!!!

PS... when do you sleep?
  • #6,877
  • Oct 26, 2009 4:54pm Oct 26, 2009 4:54pm
Quoting Lou
I Soso,

Afew minutes ago I opened my charts went to U/CAD and drew a trendline on the Weelkly LINE chart, connecting the highs.... to take a look at it. Then I went to the forum and there was your post !!!!

PS... when do you sleep?
Yeah, SR levels AND trendlines through closes really rock on Weekly and Monthly. Even on Daily although here is very dependent on the feed but found it reliable anyway!
See the confluence of the SR at 1.068 and the bearish DSRI? I think at the end of the week we will know if buyers are back in control. For now it looks like we are still in sellers teritory.

P.S. I sleep when I don't work, or am not here at FF spending great time (again!), or dont take care of my kids (2 newborn twins!)
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,878
  • Oct 26, 2009 4:59pm Oct 26, 2009 4:59pm
On behalf of all the contributors, thank you all for your very kind words and compliments. While it is very rewarding to receive such kudos, I am more interested in people sharing THEIR experiences, learnings and especially light bulb moments. Since each of us are different, I know that different things “spark” different people in different ways.

Instead of “pats on the back”, I would rather see posts on how and what turned people’’s lights on or whatever turned them around from a loser into a winner.

Every day there are brand spanking new traders to forex and sometimes to the thread. I would like to think, collectively, we, as a Strat “family”, can help these people avoid the pitfalls, scams, money grabbers and account draining predators out there. In short, I will do anything to prevent them going through the ordeal and torrid times I went through.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,879
  • Oct 26, 2009 5:05pm Oct 26, 2009 5:05pm
I share my view on ej, hoping also to strenghten my discipline:

Big boss is showing a bullish candle but still in a range.
Boss is also showing bullish momentum, but cannot pass the 138 resistance.
Daily is showing a juicy beob. Unfortunately for those who want to play the range downward the 136 support is too near.

Ramon
Attached Image (click to enlarge)
Click to Enlarge Name: ej26102009.gif Size: 36 KB
  • #6,880
  • Oct 26, 2009 5:17pm Oct 26, 2009 5:17pm
Quoting oblo
I share my view on ej, hoping also to strenghten my discipline:

Big boss is showing a bullish candle but still in a range.
Boss is also showing bullish momentum, but cannot pass the 138 resistance.
Daily is showing a juicy beob. Unfortunately for those who want to play the range downward the 136 support is too near.

Ramon
Like a dog, I bark in Your lane every morning, Yet You never ask whose dog I am or why I am here.

I asked you this a few posts back - don't you remember?
15 YEARS OF PASR ON FOREX FACTORY!
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