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Price is everything

  • #3,381
  • Nov 7, 2010 7:20pm Nov 7, 2010 7:20pm
Quoting bigwal
From what i have experienced yes.

Didnt see your R:R question........

risk and reward is increased on higher t/f

we will discuss this throughout this week ............ with live setups



no one is right or wrong - its about how much we net gain
  • #3,382
  • Nov 7, 2010 7:22pm Nov 7, 2010 7:22pm
Quoting redsword11
wtfx
)) well He is Slovakian like me lol.Just said welcom in our language lol.
FX
  • #3,383
  • Nov 7, 2010 7:24pm Nov 7, 2010 7:24pm
Quoting redsword11
Attachment
Hi Red, great thread. I trade supply and demand as well. I've been trying to catch up with your thread when I have time. I have a question about your EU short from earlier. I can definitely see the 5 minute price action that caused you to enter there, but what were your thoughts about the larger timeframe demand at this level? On the one hour chart there was a strong price surge upwards on Wednesday from about the 1.4050 area and we revisited Friday late in the session. Do you view this level as having been used up or exhausted already since we've visited it without much reaction? Just trying to see your thought process here as I was seeing some demand there on a higher time frame. Sorry for lack of charts as I'm on a computer that doesn't have charting on it. Thanks in advance!
  • #3,384
  • Nov 7, 2010 7:26pm Nov 7, 2010 7:26pm
Quoting Fxfighter
)) well He is Slovakian like me lol.Just said welcom in our language lol.
FX

....... he is also my brother
  • #3,385
  • Nov 7, 2010 7:31pm Nov 7, 2010 7:31pm
Quoting bronxterp
Hi Red, great thread....


firstly, welcome


ok - makes no odds, trade the tf that has structure from supply to demand and back again when PA tells us to


who cares where its going when we read and trade only price on 5min, 15 min or 4hr


it doesn't matter - its level to level with PA as a guide @ levels and goldman sacks can suck it - don't need anything other than PA @ levels for entry and a solid plan that works .........
  • #3,386
  • Nov 7, 2010 7:32pm Nov 7, 2010 7:32pm
Bronxterp,

That was my thoughts, we have just been talking about it.

Im sure everything will become clearer soon.

W
I need to finish something i started
  • #3,387
  • Nov 7, 2010 7:37pm Nov 7, 2010 7:37pm
Quoting bronxterp
Hi Red, great thread....

let the poles and flags tell us



let in develop, let the bars tell us - then we take it for free ........
  • #3,388
  • Nov 7, 2010 7:47pm Nov 7, 2010 7:47pm
Quoting redsword11
does a 15 min level fail as often as a 4hr - if so why?
First off - Great thread! I love following it. Thanks!

4 hour is more significant in the sense that the window you're looking at contains more round price numbers (aka Evens). The larger they are, the more significant they are as being "pivotal".

Other than that, of what significance are TF's? Just zooming in and out on more or less past data? Take, for instance, the chart that you posted. Will you try and "catch the knife" basing your trade on the fact that, way back when, the market turned up at the current price? I hope not - without confirmation that demand is still present there. Moreover, if buying really does pick up there (.25) what is it really saying? - That the price is heading into an approaching larger Even (1.0) and that is starting to attract participation even before it gets there. A really positive sign for buying that level (1.0).

Anyway, sorry to start to digress. Back to the point, as you say - Price is Everything.

Just my 2 cents from the peanut gallery.
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  • #3,389
  • Nov 7, 2010 7:50pm Nov 7, 2010 7:50pm
Thanks, Red. I only have about 2-3 hours to trade each day as of recently (early NY hours too) and will be trading from 5 and 15 minute charts mostly. I never thought that anyone traded the way I do (for the most part)...I've taken blind entries at S/D levels in the past, but maybe not anymore
  • #3,390
  • Nov 7, 2010 7:54pm Nov 7, 2010 7:54pm
Quoting redsword11
does a 15 min level fail as often as a 4hr - if so why?
What I was told by some major i-bank traders and hedgies is that they know of no big bank desks look at timeframes lower than 1H, the lowest is 1H for them. The price fluctuations in lower timeframes, as far as they're concerned, come from position squaring. They watch levels only on mostly 4H and above, and would sometimes go down to 1H for more details.

I've seen only one fx bank desk note on 30M on one single chart. But that is not a major bank's fx desk.

In addition, RED, just want to say that you're doing a great job here in this thread!
  • #3,391
  • Nov 7, 2010 7:59pm Nov 7, 2010 7:59pm
ok

l have heard enough


WHATEVER YOUR SUPPY AND DEMAND ZONES ARE - regardless, trade the PA @ those zones to your predetermined tgs


thats a plan on ANY TF ANY PAIR
  • #3,392
  • Nov 7, 2010 8:05pm Nov 7, 2010 8:05pm
we read price, trade it ONLY WHEN it tells us to - any tf any pair




bring what you have here, common goal, we beat the market and thats it



traders help traders thread, raw price action and conviction in our actions
  • #3,393
  • Nov 7, 2010 8:06pm Nov 7, 2010 8:06pm
Quoting redsword11
ok

l have heard enough


WHATEVER YOUR SUPPY AND DEMAND ZONES ARE - regardless, trade the PA @ those zones to your predetermined tgs


thats a plan on ANY TF ANY PAIR
And I think that is great plan which works at least for me.
FX
  • #3,394
  • Nov 7, 2010 8:07pm Nov 7, 2010 8:07pm
Quoting Oshawa
What I was told by some major i-bank traders and hedgies is that they know of no big bank desks look at timeframes lower than 1H, the lowest is 1H for them.
That's because only their computers are watching below 1H
  • #3,395
  • Nov 7, 2010 8:09pm Nov 7, 2010 8:09pm
Quoting redsword11
we read price, trade it ONLY WHEN it tells us to - any tf any pair

bring what you have here, common goal, we beat the market and thats it

traders help traders thread, raw price action and conviction in our actions
Nice!
  • #3,396
  • Nov 7, 2010 8:09pm Nov 7, 2010 8:09pm
Quoting Fxfighter
And I think that is great plan which works at least for me.
FX

no guessing, let it give us the sell or buy with enguilfing PA



THINK ABOUT IT - a supply zone will be confirmed by bearish enguilfing @ that zone on some tf as it would not be a supply zone WITHOUT BEARISH ENGUILFING because sellers have to exceed buyers and its reflected in price as BEARISH ENGUILFING - too complicated or too simple ?


inverse for demand zones
  • #3,397
  • Nov 7, 2010 8:12pm Nov 7, 2010 8:12pm
Quoting redsword11
no guessing, let it give us the sell or buy with enguilfing PA



THINK ABOUT IT - a supply zone will be confirmed by bearish enguilfing @ that zone on some tf as it would not be a supply zone WITHOUT BEARISH ENGUILFING because sellers have to exceed buyers and its reflected in price as BEARISH ENGUILFING - too complicated or too simple ?


inverse for demand zones
bloody hell too simple.
  • #3,398
  • Nov 7, 2010 8:14pm Nov 7, 2010 8:14pm
ok fellow fx traders



this week - show your salt, bring it here with entry and the rest



don't pretend to be a trader - be a trader with conviction


l will post all my entries with or without your salt
  • #3,399
  • Nov 7, 2010 8:17pm Nov 7, 2010 8:17pm
Quoting redsword11
we read price, trade it ONLY WHEN it tells us to - any tf any pair
audusd, cluster resolved South. Retest and rejection @ S/R level. sold - partial close here.

further drop or double bottom and bounce?
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  • #3,400
  • Nov 7, 2010 8:21pm Nov 7, 2010 8:21pm
i can see how it played out after the fact, with this method.

but im just not seeing it before the fact.

And this eur/usd drop , i just didnt see it coming.

But it does prove one thing, that was a hell of a move off a 5min pinbar and that your R:R must be very tasty.
I need to finish something i started
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