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Trading with Deadly Accuracy

  • #81
  • Nov 19, 2009 10:34am Nov 19, 2009 10:34am
Quoting Porky
What if there are several hooks that approach the s/r level but don't hit it? does that make the level void because there is no longer a smooth parabola approaching the level?
You can see in my attached chart.

Just reviewing my last answer, i dont think i addressed your question fully.

The level is valid regardless of how price approaches. Wether it comes arched upward or downward, vertically or diagonally. As long as the break out pattern existed, the level is valid.
  • #82
  • Nov 19, 2009 11:43am Nov 19, 2009 11:43am
Heres an update to the gu trade. I'm out of 80% of the position at 50 pips. Going to tighten stops to 10 below par. Thanks to Porkpie for bringing it to our attention.
Attached Image
  • #83
  • Nov 19, 2009 11:54am Nov 19, 2009 11:54am
Nice thread, methodology and explanations.

Thanks WMD!

  • #84
  • Nov 19, 2009 12:08pm Nov 19, 2009 12:08pm
Quoting wmd
I'm not familiar with Seiden, but sounds interesting. Do you have any good links i can follow it up on.

What i've seen is that you can get a good bounce from the bottom of a cluster. Usually atleast to the top of that cluster. I've also noticed that when the price moves straight through a cluster, ignoring it completely with a long bar, a new cluster forms beneath it from which you get a reversal.

Its all part of the 'what should have happened but didn't' school of thought.
He uses a very basic method with not much variation and you can find his stuff on fx street .
  • #85
  • Nov 19, 2009 4:08pm Nov 19, 2009 4:08pm
Interesting stuff WMD, looking forward to reading and participating in this Thread.
  • #86
  • Nov 19, 2009 5:23pm Nov 19, 2009 5:23pm
Looks like we lost a couple of posts there. I'm assuming then its not allowed to post full web links.

I've watched a few of Seiden's videos now. He give a fantistic explanation and conceptualises order flows at s/r levels in a way easy to visualise and understand. I'd recommend everyone to check it out.
  • #87
  • Nov 19, 2009 7:30pm Nov 19, 2009 7:30pm
Hi WMD
Thanks for starting this thread. I can see things on the charts which I couldn't see before. Now with your help I am learning to dicifer what I see.

Keep up the good work.
  • #88
  • Nov 19, 2009 7:33pm Nov 19, 2009 7:33pm
Quoting wmd
Looks like we lost a couple of posts there. I'm assuming then its not allowed to post full web links.

I've watched a few of Seiden's videos now. He give a fantistic explanation and conceptualises order flows at s/r levels in a way easy to visualise and understand. I'd recommend everyone to check it out.

Post links after you've had a hundred or so posts. Links are permitted once the moderator sees that you have posted enough. After a certain number of posts the moderators don't aromatically kick it out. Its then up to older members to report you (or temporarily suspend you) if your promoting anything with your links. This is a community, once you have been here a while it will also be your job to help prevent unwanted solicitation.

Now, about your trading trend following, buy on retrace . S&R rules and I look forward to seeing more of your thoughts.
  • #89
  • Nov 19, 2009 8:15pm Nov 19, 2009 8:15pm
wmd,

i follow seiden as well, that's sam seiden. excellent instructor. you can find his acticles at onlinetradingacademy.com, and he does live webinars at fxstreet.com. here's a link to one of his recorded webinars. there are more.

http://transcripts.fxstreet.com/2009...-analysis.html
  • #90
  • Nov 19, 2009 9:27pm Nov 19, 2009 9:27pm
wmd, for entirely selfish reasons, i hope this thread gets shut down. lol.
if you trade ny session, send me a pm. i think we'd have alot to chat about ! redart..all ill say is the chart you posted illustrates my retirement plan.

best of luck to all of you! please shut this thread down haha.
- nick andre -
  • #91
  • Nov 20, 2009 12:22am Nov 20, 2009 12:22am
wmd,

you are doin a great job!
I have attached two charts EU M5 , both of the charts show a breakout and the previous resistance is not being tested. Prices then take off. The second chart did no take far further
Can you share your view on this or may be i am wrong in interpretation!

Cheers
Winston
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 eurusd 5min.gif Size: 27 KB
Click to Enlarge Name: 3 eurusd 5min.gif Size: 27 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #92
  • Nov 20, 2009 3:05am Nov 20, 2009 3:05am
Hey Winston...what are you doing here? Don't let Jankone catch us or we'll be in trouble..

If I may, I think your first chart, you need to scroll over to the right more...as you can see the market makes a few attempts to retest some failed, when it does eventually get there...it takes off... you would probably need to look at price action at that level to help with entries...

The second chart you posted doesn't show the price is part of a much bigger up move so isolating only part of it maybe gives you a blinkered view of the bigger picture - see WMD first posts on zooming in and out.... I think looking at on the 15min TF highlights a gap where price didn't retest so thats where I might look for a reaction...I think your chart does show a failed retest but within such a big uptrend trying to pick a reaction on a small TF maybe being overally optimistic...

Whats wrong with posting charts from this month so we dont have scroll back for ages... ?

Cheers 007



Quoting oneuniverse
wmd,

you are doin a great job!
I have attached two charts EU M5 , both of the charts show a breakout and the previous resistance is not being tested. Prices then take off. The second chart did no take far further
Can you share your view on this or may be i am wrong in interpretation!

Cheers
Winston
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu rev.gif Size: 28 KB
Click to Enlarge Name: eu2.gif Size: 28 KB
  • #93
  • Nov 20, 2009 3:22am Nov 20, 2009 3:22am
Quoting redart007
Hey Winston...what are you doing here? Don't let Jankone catch us or we'll be in trouble..

If I may, I think your first chart, you need to scroll over to the right more...as you can see the market makes a few attempts to retest some failed, when it does eventually get there...it takes off... you would probably need to look at price action at that level to help with entries...

The second chart you posted doesn't show the price is part of a much bigger up move so isolating only part of it maybe gives you a blinkered view of the bigger picture...
yes, you are right

Quoting redart007
Whats wrong with posting charts from this month so we dont have scroll back for ages... ?
was just scrolling back! from now will moniter it live!

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #94
  • Edited 3:47am Nov 20, 2009 3:37am | Edited 3:47am
WMD , your views!

1) Did not test the NOW SUPPORT and PREVIOUS RESISTANCE

2) DROPED to the level

3) PIN BAR formation

BTW: red wht u think about these kind of setups?

Cheers
Winston
Attached Image (click to enlarge)
Click to Enlarge Name: 2 eurusd 5min.gif Size: 26 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #95
  • Nov 20, 2009 3:37am Nov 20, 2009 3:37am
Hi wmd, excellent thread, thanks for helping to open our eyes to PA.

Here is a chart of GJ on 4h TF. There appears to be an untested breakout point from the red line at 144.60. Given the support at the blue area has been so strong with several reactions already, do you think the red line could be a good point for a retest if orders are still waiting there, or do you prefer the blue area?

I'm thinking about the most obvious points on the chart which everyone will be looking at.
Attached Image (click to enlarge)
Click to Enlarge Name: gj4h.gif Size: 25 KB
  • #96
  • Nov 20, 2009 4:06am Nov 20, 2009 4:06am
Quoting oneuniverse
wmd,

you are doin a great job!
I have attached two charts EU M5 , both of the charts show a breakout and the previous resistance is not being tested. Prices then take off. The second chart did no take far further
Can you share your view on this or may be i am wrong in interpretation!

Cheers
Winston

Hi Winston.

You sure do pick em'.

1. zoom out.
2. look for the origin of the move. where did the present up move start from?
3. how does price move (part 1).
4. dont ignore the rest of the pa on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eu5m.gif Size: 26 KB
  • #97
  • Nov 20, 2009 4:10am Nov 20, 2009 4:10am
got it WMD

IMHO , this could grow as one of the best threads on price action

Best Regards,
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #98
  • Nov 20, 2009 4:19am Nov 20, 2009 4:19am
Quoting uksnowman
Hi wmd, excellent thread, thanks for helping to open our eyes to PA.

Here is a chart of GJ on 4h TF. There appears to be an untested breakout point from the red line at 144.60. Given the support at the blue area has been so strong with several reactions already, do you think the red line could be a good point for a retest if orders are still waiting there, or do you prefer the blue area?

I'm thinking about the most obvious points on the chart which everyone will be looking at.

For the purpose of the of the bo pullback, i would be looking closer to the red line. At first glance i have my level a little lower.

I'll post a chart soon.
  • #99
  • Nov 20, 2009 6:14am Nov 20, 2009 6:14am
Quoting wmd

If you feel this thread is of merit then give it a rating so that more people can benefit from it.

If you like where its going let me know. It'll give me wings
Just tumbled into this thread .

!

5 Stars !

going to read through this weekend !

thank you, WMD !

( i have been,without realising it (using the basic TA), been doing something like this .. now u have given it a definite formal definition ! )
  • #100
  • Nov 20, 2009 6:22am Nov 20, 2009 6:22am
Hello WMD,
I came across this thread last night/early hours of the morning.I am finding it extremely useful. Thanks for starting it. Could you please explain the correct entry and exit points you personally use. I am a fairly new at forex trading, and I am just trying to soak up as much as possible.

I started on a mini account earlier in the year which was wiped out. I have been demoing since then with various methods which have been hit and miss, more miss than hit really. I even tried the dreaded EA's. I have to tell anyone who is thinking of buying one of those to avoid it at all cost. Give the money to charity instead.
Today on my demo account, I have made €102 using your method.
Could you post a live chart please so that I can follow it.

I am hoping to go live next week.

Thanks and keep up the good work.
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