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Support and Resistance Trading Simplified

  • #161
  • Mar 31, 2010 7:43pm Mar 31, 2010 7:43pm
Thanks for your reply Sutts.

Quote
This begs the question: is the power of the long breakout (surge) dependent on the number of swing points (order clusters) put in on the way down? i.e. after a lengthy fall with plenty of retracements, the buy orders that sit over the last lower high (due to stops being accumulated and moved down as new lower highs are put in) should in theory be much greater than if the fall is small or if the fall is large but very rapid with few pull backs.

That's the exactly the question to ask. In my example the down-move was nice and clear before price rushed up.
  • #162
  • Mar 31, 2010 9:10pm Mar 31, 2010 9:10pm
what do we think?
RZ6E flipped to resistance in sellsided orderflow
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  • #163
  • Mar 31, 2010 9:14pm Mar 31, 2010 9:14pm
Quoting Flo
Thanks for your reply Sutts.



That's the exactly the question to ask. In my example the down-move was nice and clear before price rushed up.
price will rush in areas of clustering and rest in areas where clusters are not they will build the price action ness to climb to the orders above.. as the orders are liquidated from that down moves the upper orders become greater.. price discovery and order clusting rush it up
  • #164
  • Mar 31, 2010 9:24pm Mar 31, 2010 9:24pm
Quoting Sutts
Thanks for confirming Domino. I think that answers two of my questions.

1. Single fractals are sufficient as break points (1 higher low on each side of the low point as opposed to 2 higher lows on each side).
yes
Quote
2. A short entry can be made as soon as the previous long trend fails (by the last higher low being taken out) as long as a failed lower high is put in place first.
against a support or resistance area I take the initial break.
Quote
Please correct me if I've read this wrong.

Really appreciate your help.
  • #165
  • Mar 31, 2010 9:31pm Mar 31, 2010 9:31pm
Quoting Flo
Hello Domino and thread fellows!

I've prepared a chart à la BabeFX. What do you think of it? Do they make sense and am I missing "something"?
There is some text in the charts, maybe you (all) could comment them!

Thanks a lot

Flo

Attachment

Attachment
the first area stops hit where the largest chunks of clusters.. they had enough force to change the orderflow after eating the first 4-5 clusters price didnt have enough orders above to continue to power the move and so it congested and built more buyside order flows.. you should have been stopped out in congestion and waited for price to break again.. the new clusters powered price to the upper levels and with the momentum intact had enough juice to take out the high.
  • #166
  • Edited Apr 1, 2010 1:20am Mar 31, 2010 10:21pm | Edited Apr 1, 2010 1:20am
what do we think
RZ11F-swapped eurry/aud
backed up by news
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  • #167
  • Apr 1, 2010 1:01am Apr 1, 2010 1:01am
hi domino, would these be correct entries?

thanks
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  • #168
  • Edited 1:23am Apr 1, 2010 1:06am | Edited 1:23am
Quoting rogerdoger
hi domino, would these be correct entries?

thanks
cant really see alot there and have no idea what pair it is to track it but for the time frame thats up only the 2nd trade u made would have been taken by me... judging from what I can see. Failed High followed by a double low break is money throw in some resistance at least a RZ4H -swapped and that trade was golden
  • #169
  • Apr 1, 2010 2:05am Apr 1, 2010 2:05am
heres how that eur/aud scalp worked out..

that puts us at 5 for 5 right
I dont think this is over but at 1:4 and computer is getting laggy me or the platform I cant tell I said screw it and closed.

Edit: figured it out man I hate windows it was that damned autoupdate at 3 in the morning.. grr
yeah still going damn u microsoft one day microsoft one day...
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  • #170
  • Edited 2:32am Apr 1, 2010 2:17am | Edited 2:32am
so you would not have entered at the red lines in the uploaded screenshot but would have entered at the actual break of the swing low correct? it looks like you entered a bit differently in this screenshot http://cdn.forexfactory.com/attachme...4&d=1270087805

does a break = 1 away from the low or high for your entry?

when adding onto the trade, do you still use the 15m chart or do you have a secondary lower time frame chart that you look at?
thanx
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  • #171
  • Edited 11:19am Apr 1, 2010 10:45am | Edited 11:19am
Quoting rogerdoger
so you would not have entered at the red lines in the uploaded screenshot but would have entered at the actual break of the swing low correct? it looks like you entered a bit differently in this screenshot http://cdn.forexfactory.com/attachme...4&d=1270087805
haha this trade did quite well too I didnt even mention it +100 pips i believe.

that was a break on a different timeframe.. its not ness a break of the low its just enough to trigger the order clusters so take out the low of the candle bodies depending on the wicks if the wicks are real long ill wait a bit longer mid - short wicks I just take the bodies
Quote
does a break = 1 away from the low or high for your entry?
break depends on wicks long wicks its best to wait and see short to medium wicks body low/high +spread.
Quote
when adding onto the trade, do you still use the 15m chart or do you have a secondary lower time frame chart that you look at?
thanx
I added at the order clusters so if you zoom out on the chart as price is breaking and triggering orders im adding to my position just hard to see on the 15M
  • #172
  • Apr 1, 2010 11:09am Apr 1, 2010 11:09am
Non farm payrolls wedged in the middle of bank holiday's this should make for an interesting rest of the week I probably will not trade it.
  • #173
  • Apr 1, 2010 11:21am Apr 1, 2010 11:21am
I have been trying to post my comments since yesterday. I don't know whats going on. In any case, here it goes again E/J chart with my views on S/R and price analysis.

sisse
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Pending conversations? PM for a chat...I am mainly in OTM now
  • #174
  • Apr 1, 2010 1:08pm Apr 1, 2010 1:08pm
Quoting sisse
I have been trying to post my comments since yesterday. I don't know whats going on. In any case, here it goes again E/J chart with my views on S/R and price analysis.

sisse
heres what I think we are approaching a RZ9F-swappedwith sold sellside order flow built up on approach.. I think we are also exhausted pic of RZ9F in first pic..

Orderflow on 2nd chart..

What needs to be done is wait for the challenge on break of the RZ10F we should short on failed high and on challenge failed low break high -reswap to SZ11D price should stagger and build order flow and retrace back and we should long on break of high...

I would be more willing to short tho as the sell side order flow is significantly more built up.
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  • #175
  • Apr 1, 2010 1:28pm Apr 1, 2010 1:28pm
Quoting domino
RZ10F.
Hi. What's the "10F" part? (I guess RZ is resistance zone).
Is 10 the nuber of touches at the level?

Thanks,

Ed.
  • #176
  • Apr 1, 2010 1:31pm Apr 1, 2010 1:31pm
Quoting Ted1983
Hi. What's the "10F" part? (I guess RZ is resistance zone).
Is 10 the nuber of touches at the level?

Thanks,

Ed.

RZ- resistance zone
10-# of touches
F-has to do with built up orderflow..F is 6-7 clusters short
  • #177
  • Apr 1, 2010 1:34pm Apr 1, 2010 1:34pm
short worked well.

RZ8B-Swapped

tar- triangle bottom or support
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  • #178
  • Apr 1, 2010 3:40pm Apr 1, 2010 3:40pm
Today EJ potential mini top but its late. Too close to holiday

sisse
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Pending conversations? PM for a chat...I am mainly in OTM now
  • #179
  • Edited 8:10pm Apr 1, 2010 7:30pm | Edited 8:10pm
Quoting domino

that was a break on a different timeframe.. its not ness a break of the low its just enough to trigger the order clusters so take out the low of the candle bodies depending on the wicks if the wicks are real long ill wait a bit longer mid - short wicks I just take the bodies
break depends on wicks long wicks its best to wait and see short to medium wicks body low/high +spread.
what kindof different timeframe are you looking at?

what software are you using to see the orderflow and the trading codes?
  • #180
  • Apr 1, 2010 9:30pm Apr 1, 2010 9:30pm
Quoting domino
RZ- resistance zone
10-# of touches
F-has to do with built up orderflow..F is 6-7 clusters short

I see.

So with regard to this chart;

http://img42.imageshack.us/img42/3371/pa2p.jpg

You're counting the consolidation areas as places to add to a trade, should you end up in short position on the way back down?

If that's the case, may I ask if you add to a position with equal weight all the way or do you use a pyramid entry or something?
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