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  • #1,401
  • Aug 25, 2010 11:34pm Aug 25, 2010 11:34pm
More volatility on the smaller time frame

A weekly
B 5 min

Thanks Graeme

Bill
  • #1,402
  • Aug 25, 2010 11:41pm Aug 25, 2010 11:41pm
Hi folks this is my 1st post. Hats off to Graeme (clap clap)
And to all of you guys too, for hanging in there and asking great questions.

FYI: I am a Jesse Livermore trader. I see alot of the JL approach and mentality in this thread.

My thing is: patience

Here is my answer to the recent chart question.

Either chart can be a weekly or 5m TF because price is price at any level. Candles are just our attempt visualize price movement across some time interval.

Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #1,403
  • Aug 25, 2010 11:45pm Aug 25, 2010 11:45pm
A is weekly and B is 5 minutes.

Reason:

Chart A is much smooth flow

Chart B is volatile with in few candles

Now both could well be 5 minutes candles;
However, it is unusual for a weekly to behave like Chart B.

So, if one of them has to be weekly, then higher probability is for Chart A to be weekly.

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,404
  • Aug 25, 2010 11:58pm Aug 25, 2010 11:58pm
Quoting pipEASY
This is quiet important quiz.

Can anyone tell me from the below 2 charts, which is 5 minute chart and which is weekly chart? And the reason why.


Chart A or Chart B?

Look forward to your answers tomorrow and will return to further add to what I have shown today

Sincerely,

Graeme
I honestly can't tell which is which.
  • #1,405
  • Aug 26, 2010 12:04am Aug 26, 2010 12:04am
My guesses....

Chart A = 5 minutes ( reason: very volatile, "noise"-like movements, candles and wicks of various lengths, sudden trends )

Chart B = Weekly ( reason: mainly because opens and closes are close to each other indicating continuation of movement into the next week. On a lesser level, the candles and wicks are roughly the same size, highs and lows marking out the channel boundaries )
  • #1,406
  • Aug 26, 2010 12:07am Aug 26, 2010 12:07am
Quoting pipEASY

........................................................................................

Now the above step by step interpretation is very important and I need all readers to understand what/why my train of thoughts. It is linked to my next topic in a planned flow of explanation.

I will address next topic tomorrow afternoon but until then I have a mini quiz for all

Continuing on..
Graeme,

Thanks for yet another superb bit of insight into how you trade. I am thoroughly enjoying the education and it has definitely made a difference to my trading.

Cheers,
Bak
  • #1,407
  • Aug 26, 2010 12:18am Aug 26, 2010 12:18am
I would say it is a toss up.

But if I have to choose,

A. Weekly more uniform
B. 5 Min more choppy

Bruce
  • #1,408
  • Aug 26, 2010 12:28am Aug 26, 2010 12:28am
I think chart A is 5 min as the MA spread is greater and price is more volatile.
Chart B is the weekly chart. Much closer MA spread.

Cheers, Rob


Quote
Pip Easy for Prime Minister
  • #1,409
  • Aug 26, 2010 1:04am Aug 26, 2010 1:04am
I think chart A is the weekly chart cos there is a gap in the opening price in one of the candle. Chart B shows consistent continuation of chart so most likely its the 5 minute chart.

chonghm
  • #1,410
  • Aug 26, 2010 1:15am Aug 26, 2010 1:15am
Euro and Cable look like there on the move! Could be good for stacking practice!!!
  • #1,411
  • Aug 26, 2010 1:58am Aug 26, 2010 1:58am
Quoting pipEASY
Just before I head out I should have mentioned that there is no right or wrong answer to the quiz (to a sense).

However, I appreciate a honest response for the willing participants.

Thank you.

Continuing on tomorrow.

Kindest Regards,

Graeme
Both chart A and B looks the same to me Graeme.
  • #1,412
  • Edited 6:23am Aug 26, 2010 2:01am | Edited 6:23am
In my opinion:
A. weekly
B. 5 min.

But what I see is that charts are almost same and price action is same.
It means that candle patterns work on every time frame.
  • #1,413
  • Aug 26, 2010 2:04am Aug 26, 2010 2:04am
There is no difference on this two chart for me.
  • #1,414
  • Aug 26, 2010 2:22am Aug 26, 2010 2:22am
on 1st hard look, chart A is 5min & chart B is weekly. Due to swinging of price either side of ma's in 5min chart.

After reading some responses, had to go back for a better look.

Nope, still looks the same to me, even with a little gap showing on chart A.

cheers scalpz
Target 2 : Stoploss in the green
  • #1,415
  • Aug 26, 2010 3:25am Aug 26, 2010 3:25am
Hi Graeme,

I have been away from my computer for several hours so I studied your charts A & B before reading on further in the thread.

I decided that Chart A was weekly and Chart B was 5 min. because of the relative choppiness and wick size.

However on reading other replies I now not so sure.

I thoroughly enjoyed your last illumination about PA.

Kind Regards,

Michael
  • #1,416
  • Aug 26, 2010 3:39am Aug 26, 2010 3:39am
Hi everyone, i'll test this method on a demo account though i just read the first pages

So for now i'll train about entry points and try to find differents ways to do it

Do you have some advises about the pages i should read to find some good method for choosing them (except support/trendline breakouts which ain't a so easy thing to code...and i would like to code this part of the job)
I was thinking about selling in a small timeframe when all the major pairs were losing against USD at the same time and the contrary. I think this way there may be little chance that i can't make it to breakeven. I'm thinking about combining this with a high ATR (i think ATR alone could be allright too)
Though this idea cannot be backtested because it uses differents pairs...so i'm very interested in any method for entry points!

Thanks in advance
  • #1,417
  • Aug 26, 2010 3:44am Aug 26, 2010 3:44am
I have often been looking at one TF and thinking it was another so IMHO either could be for reasons already posted, but if I had to bet on it, A would be my choice for 5 min.
  • #1,418
  • Aug 26, 2010 3:46am Aug 26, 2010 3:46am
Quoting traderray
I have often been looking at one TF and thinking it was another so IMHO either could be for reasons already posted, but if I had to bet on it, A would be my choice for 5 min.
Ha so its not just me!! Ive caught myself putting an hourly trade on the 5 min chart!!!!
We are human after all.
Cheers
Ben
  • #1,419
  • Aug 26, 2010 3:53am Aug 26, 2010 3:53am
Few positions put in exactly on the lines of PA notes from Graeme
Only problem I have is, I am not comfortable to move the SL to BE, since they could cause the position to close.

Anyone having similar challenge?

Thanks
TS
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,420
  • Aug 26, 2010 3:59am Aug 26, 2010 3:59am
Quoting DhaoS
Hi everyone, i'll test this method on a demo account though i just read the first pages

So for now i'll train about entry points and try to find differents ways to do it

Do you have some advises about the pages i should read to find some good method for choosing them (except support/trendline breakouts which ain't a so easy thing to code...and i would like to code this part of the job)
I was thinking about selling in a small timeframe when all the major pairs were losing against USD at the same time and the contrary. I think this way there may...
Hi,
I dont think you can get out of short-cutting the reading, (several times), - look at post 1150 wher flyer415 has gathered the relevant posts to page 77. Will make things a little easier.
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