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  • #12,101
  • May 8, 2010 6:53pm May 8, 2010 6:53pm
Hello all!

How do you determinate what is big boss, boss, and worker?
Which time frame, how many candles?

For instance I have D1 chart from June 2009. on EUR/USD. On it I can see that price has fallen from 1,5000 to 1,2700

Would this trend be big boss or the boss?

Thanks!
  • #12,102
  • May 8, 2010 7:05pm May 8, 2010 7:05pm
Quoting future
Hello all!

How do you determinate what is big boss, boss, and worker?
Which time frame, how many candles?

For instance I have D1 chart from June 2009. on EUR/USD. On it I can see that price has fallen from 1,5000 to 1,2700

Would this trend be big boss or the boss?

Thanks!
Best thing to do future is to go to page 1 like me buddy. Don't go to the next page until you READ and UNDERSTAND the posts on page 1.
"Don't trade to trade . . . trade to win." - James16
  • #12,103
  • May 9, 2010 1:07am May 9, 2010 1:07am
[quote=strat;3709317]Fibs and how you use them are your personal trading style.

Hi Strathttp://cdn.forexfactory.com/images/icons/icon10.gif

The Italian Ice Cream Man (Fibonacci) again! - I prefer the ice cream! LOL

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #12,104
  • May 9, 2010 2:12am May 9, 2010 2:12am


This is the kind of things you find when browsing the rest of FF.


http://www.forexfactory.com/showpost...8&postcount=51
  • #12,105
  • May 9, 2010 3:00am May 9, 2010 3:00am
Quoting CrudeCraig


This is the kind of things you find when browsing the rest of FF.


http://www.forexfactory.com/showpost...8&postcount=51
Magic - Don't you think that should be on show at the Tate gallery?
  • #12,106
  • May 9, 2010 3:23am May 9, 2010 3:23am
Hi i was doing some calculations of pivot point S/r on the EUR/CAD

this is what ive got

Weekly S1 1.3231 R1 1.3386

Monthly S1 1.328 R1 1.3745

ok the problem ?

the monthly S1 is higher than the weekly S1 ????

I used the closes on the candles

so i looked at the higher closed, the lowest close and the close on monthly time in april

and the same for the weekly highest close, lowest close and the close

entred the reading in John l persons pivot point calulator and thats what i got back

ive double checked and checked same results? Ive never seen anything like this before

have i done something wrong here?

normally i use the highest wick, the lowest wick and the close that the price made.

but im going off the close as you say was important am i missing somthing or my reading are bad intel and human error?
  • #12,107
  • Edited 6:25am May 9, 2010 6:08am | Edited 6:25am
the hammer has closed below the weekly opening
and this not allows us to open long positions

because the big boss is damn short
  • #12,108
  • May 9, 2010 6:39am May 9, 2010 6:39am
Quoting extraneo
the hammer has closed below the weekly opening
and this not allows us to open long positions

because the big boss is damn short
Thanks, I am not looking to go long on this one yet as I wil wait for BIG BOSS to change the direction first. But does it mean hammer has to be be green to close above week open?, what I can see is that the seller pushed the price to the low of the hammer where buyer pushed it back to where it closed that shows there are buyer on this level.

I agree trend is down therefore, go with the trend.
  • #12,109
  • May 9, 2010 6:44am May 9, 2010 6:44am
Quoting simpleman
Thanks, I am not looking to go long on this one yet as I wil wait for BIG BOSS to change the direction first. But does it mean hammer has to be be green to close above week open?, what I can see is that the seller pushed the price to the low of the hammer where buyer pushed it back to where it closed that shows there are buyer on this level.

I agree trend is down therefore, go with the trend.
look here

and then ask the teacher Strat
Attached File(s)
File Type: pdf PriceActionSetups.pdf   45 KB | 1,198 downloads
  • #12,110
  • May 9, 2010 7:08am May 9, 2010 7:08am
Quoting extraneo
look here

and then ask the teacher Strat
Thanks for the attachement I have seen this before, I am not saying I do not agree with you but red candle is also important not as significant as green one but gives the same message "buyers are around the corner".

I don't like to quote from the book but on this instance I will quote from Martin Pring's Candlestick Analyis on page 18 he says "Although the color is not important, a white(green) hammertends to have more significance that a black one, since it means that the price opens, sells down to the low, and ends on, or very close to, its high."

But Strat is the boss.

Cheers
  • #12,111
  • May 9, 2010 7:16am May 9, 2010 7:16am
Quoting simpleman
Thanks for the attachement I have seen this before, I am not saying I do not agree with you but red candle is also important not as significant as green one but gives the same message "buyers are around the corner".

I don't like to quote from the book but on this instance I will quote from Martin Pring's Candlestick Analyis on page 18 he says "Although the color is not important, a white(green) hammertends to have more significance that a black one, since it means that the price opens, sells down to the low, and ends on, or very close to, its...

wait for the big big boss (Strat) and hear what it says
  • #12,112
  • May 9, 2010 7:21am May 9, 2010 7:21am
Quoting extraneo
wait for the big big boss (Strat) and hear what it says
He will be after me with his double barrell.
  • #12,113
  • May 9, 2010 7:29am May 9, 2010 7:29am
[quote=strat;3709143]
Quoting gaf

You are doing good so don't worry. Maybe I should not have said that comment as it is not basic PASR.

I took the trade because the Boss hit R and the Worker looked like it was setting up to visit 92 again plus my Momentum, Cycles and some other technical stuff were all lined up.
Hey Strat,
Thanks for the encouragement and your reasoning regarding that set up. I hope one day to be able to see trades like that so that I might take advantage of all the market has to offer. Until that time (and probably after) I'll keep my nose to the grindstone. Cheers.

John
Finally out of the shadows.
  • #12,114
  • May 9, 2010 7:35am May 9, 2010 7:35am
Quoting simpleman
He will be after me with his double barrell.

and we must consider that the price is much below 20ema and 50sma ...
  • #12,115
  • May 9, 2010 8:08am May 9, 2010 8:08am
Quoting swano
Hi i was doing some calculations of pivot point S/r on the EUR/CAD

this is what ive got

Weekly S1 1.3231...
Hey Swano,
I think others may have mentioned it but we don't use pivots and the S1-3 R1-3 calculations when dealing with PA. The very first post on this thread has most of the vital information contained within it under the heading Support & Resistance Levels – Recognition & Identification as well as a link to the index.

You will then have to read all the posts (there is no short cut for this) maybe twice for it to start to sink in. I have 2 huge binders printed out with many of the relevant posts and charts totaling 800+ pages which I have lovingly named the gospel according to Strat and Co. Whenever I see something I don't' understand I try and find a relevant post contained in the binders. This will also help you start to examine what the great traders are seeing on here and why.

I have so very much to learn but I think the thing that really turned me around was the psychology stuff contained in the Trading in the Zone book (by Mark Douglas) lovingly referred to as TITZ in some posts. I now realize that I am trading the best I can for my current level of knowledge and I find that that helps to put my mind at ease when I have losses and keeps me in line when I have winners.

There is so much to be gained from this thread, please don't cheat yourself by flash reading or trying to make money right away. You will lose big time and then beat yourself up for it. This thread is like an apprenticeship or having a full set of thesis advisers, FOR FREE! so we must put the effort in so that the teachers don't think they are wasting their time. Hope this helps you. Cheers.

John
Finally out of the shadows.
  • #12,116
  • May 9, 2010 9:25am May 9, 2010 9:25am
Quoting strat
Price penetrated the low of the boss controlling candle but could not close below it.

What?

Someone help before I find my double barrelled shotgun!
Hey Flem,
Since no one has submitted an answer yet I’ll stick my neck out to see if I’ve learned anything. I hope my answer will benefit the thread or at the very least I hope Strat can correct my crooked thinking and send me back to studying.

Monthly: zoomed out looks like we had an impulsive leg down (3 or C) from August 2008 to Jan 2009 which leaves us in no man’s land (looking for a W4, complex correction or a new impulse up blah blah blah) so what is price action saying? Last month’s doji above resistance has been violated and price has cleared 141.00 leaving the doji as an unconfirmed swing high. The previous up leg looks strong and rather impulsive while the current leg smacks of correction with its twists and turns.

Weekly: offers more information as the current downtrend looks messy and corrective however the 20 has crossed the 50down, price has closed strongly below 141.00 (confirming the prior weeks doji a swing high) at prior weekly swing resistance and at the 61 fib (for those fibbers out there). Price found a wack of demand at 130.00 an important multi year monthly support which chased the sellers up to the level mentioned above. One must also note that this level is the 76 fib which is often a line in the sand for trend continuation.

Daily: offers the possibility of a retest simply looking at pattern which could end up as a failure. I would be hesitant to sell into all those buyers as we may see PA for a long on a possible 3 or C wave up. The high wave inside bar on Friday could not close below the daily swing at 132.25 so we will now wait for direction and see what price does at S/R.

I find I’m quite conflicted with this analysis as my knowledge so far says trend is down but that the party may be over soon due to the look of that first leg up on the monthly chart and the reaction of the buyers at 130.00. I think I’ve seen confusion before when we are at turning points so I’ll humbly submit my analysis. Cheers.

John
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Finally out of the shadows.
  • #12,117
  • May 9, 2010 9:31am May 9, 2010 9:31am
Quoting CrudeCraig


This is the kind of things you find when browsing the rest of FF.


http://www.forexfactory.com/showpost...8&postcount=51
Unfortunately these are the things newbies see first and believe they have to understand all this tripe to make money.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,118
  • May 9, 2010 9:33am May 9, 2010 9:33am
Daily:
we only have two bars green with higher close
(although closed in an area that seems to have some meaning)
but there aren't signal of PASR,
let alone the weekly and montly...
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  • #12,119
  • May 9, 2010 9:34am May 9, 2010 9:34am
[quote=gaf;3709719]
Quoting strat

Hey Strat,
Thanks for the encouragement and your reasoning regarding that set up. I hope one day to be able to see trades like that so that I might take advantage of all the market has to offer. Until that time (and probably after) I'll keep my nose to the grindstone. Cheers.

John
You will do if you keep at it and take it seriously.

It really is only experience borne out of reading thousands and thousands of charts and spending thousands and thousands of hours studying them.

There is NO SHORTCUT - you have to put in the effort.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,120
  • May 9, 2010 10:01am May 9, 2010 10:01am
Quoting gaf
Hey Flem,
Since no one has submitted an answer yet I’ll stick my neck out to see if I’ve learned anything. I hope my answer will benefit the thread or at the very least I hope Strat can correct my crooked thinking and send me back to studying.

Monthly: zoomed out looks like we had an impulsive leg down (3 or C) from August 2008 to Jan 2009 which leaves us in no man’s land (looking for a W4, complex correction or a new impulse up blah blah blah) so what is price action saying? Last month’s doji above resistance has been violated and price has cleared...
Thought I might add to this debate.

My take on the dragon …… Firstly boss and big boss don’t tell us much apart from the fact that they are at a major-ish SR level so price could go either way IMO – price is currently consolidating?.

The worker, however, is in a clear downtrend.

I’ve got two SR levels I’m watching – 129 and 118, both of which could offer strong support.

The other consideration, though are the funnymentals. The UK election produced a hung parliament, which is normally a bad(bearish) signal for both stocks and the pound.

Also, given the state of UK finances(on some measures we are in a worse state than Greece!!!) I can’t see anything to strengthen the pound in this environment, unless……The BOE meets this week and we have an inflation report. Now if inflation ticks up, which is expected, the BOE may raise rates, but I think this is unlikely given the state of the economy.

One other thing to consider is the current risk aversion which means money will flow to safe haven currencies – Dollar and Yen.


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