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Price is everything

  • #13,781
  • Mar 29, 2011 7:06am Mar 29, 2011 7:06am
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awaiting further PA for buy
  • #13,782
  • Mar 29, 2011 7:14am Mar 29, 2011 7:14am
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  • #13,783
  • Mar 29, 2011 7:17am Mar 29, 2011 7:17am
Quoting redsword11
Attachment




awaiting further PA for buy

in @ 1.59605
  • #13,784
  • Mar 29, 2011 7:27am Mar 29, 2011 7:27am
Quoting redsword11
Attachment


in @ 4.392
  • #13,785
  • Mar 29, 2011 7:39am Mar 29, 2011 7:39am
hi red can i ask which candle you used to pull the trigger on GU long?

i see the pin on m15 but it closed as a doji after hitting 1.5942...

next candle on m15 closed as a pin bar althougth did push slightly higher, seems like you entered just before this candle closed?
  • #13,786
  • Mar 29, 2011 7:47am Mar 29, 2011 7:47am
Quoting redsword11
in @ 4.392

added 4.369
  • #13,787
  • Mar 29, 2011 7:48am Mar 29, 2011 7:48am
Quoting red2010
hi red can i ask which candle you used to pull the trigger on GU long?

i see the pin on m15 but it closed as a doji after hitting 1.5942...

next candle on m15 closed as a pin bar althougth did push slightly higher, seems like you entered just before this candle closed?


check 5 min pin, break of pin


also bought eu @1.40646
  • #13,788
  • Mar 29, 2011 7:48am Mar 29, 2011 7:48am
Quoting red2010
hi red can i ask which candle you used to pull the trigger on GU long?

i see the pin on m15 but it closed as a doji after hitting 1.5942...

next candle on m15 closed as a pin bar althougth did push slightly higher, seems like you entered just before this candle closed?
I can't speak for Red, but on the 5 min chart, we have a nice pin or hammer into demand zone. The trigger for me is the next 5 min close above the pin.

My rules would be to buy the open of the next 5 min candle after confirmation, bullish close above that pin. I had to step away from my desk at that exact moment, so I bought the retracement as shown.


If you see a bullish setup that may be forming on the 30 or 15 min chart, go to a lower time frame and watch for bullish candlestick patterns.
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  • #13,789
  • Mar 29, 2011 7:54am Mar 29, 2011 7:54am
Quoting redsword11
check 5 min pin, break of pin


also bought eu @1.40646

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  • #13,790
  • Mar 29, 2011 8:06am Mar 29, 2011 8:06am
Hello redsword11 and everyone else,

The method I've used to trade for quite some time has been largely based upon momentum candles going from the larger time frames to smaller time frames for entries.

Early last year I watched Sam Seiden's videos and was amazed to find out that the way he trades supply and demand was eerily similar to the way I traded, except for the fact the way he explained it everything actually made sense as to why it was happening the way it did.

Essentially, momentum candles are created because of a shift in supply and demand from an equilibrium state. Recently, I came upon this thread and am delighted to see that the way redsword11 and the followers here trade is very similar to mind and we take trades around the same areas.

I've read a few dozen pages of this thread and have already found a lot of your charts and posts with explanations to provide me with even more depth on the way I see things and gives me more clarity.

I look forward to following this thread daily and making some sort of contribution to it if I can!

Keep up the good work and your work is much appreciated!
  • #13,791
  • Mar 29, 2011 8:18am Mar 29, 2011 8:18am
How strong are the bulls now on Cable ? Bounce from the potential support zone - a previous 1hr/4hr swing lo zone, Upside obstacles between here and the current daily hi shown on the 1hr screesnhot below. Dly S1 pivot just below current daily lo.

Will previous support act as resistance on any retest from the underside ? or will the bulls be strong from here ?

Time will tell....look for the clues in PA

G/L
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ex member
  • #13,792
  • Mar 29, 2011 8:42am Mar 29, 2011 8:42am
thanks for the explantions red and dishwasher

once i slipped down to m5 i could see that pin bar more clearly, and i see what your saying about momentum change...

i think the e/u trade didnt play out so well even though the momentum did seem to change and is now hovering around your BE 1.4064....

if you havent been stopped out already would you consider taking BE now red? since it actually went the other way after the last screen shot you took?

i know that market forces and big sell orders can often push price past a demand level before it eventually retraces and price goes long.........but knowing this and writing a rule to allow for it is a very hard thing for me....
  • #13,793
  • Mar 29, 2011 8:47am Mar 29, 2011 8:47am
Quoting redsword11
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so ,,,,,where is your positions now ?
A chart helps those who can read it.
  • #13,794
  • Mar 29, 2011 8:51am Mar 29, 2011 8:51am
Quoting geniusztc
so ,,,,,where is your positions now ?

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right here ...........market doesn't scare me
  • #13,795
  • Mar 29, 2011 8:52am Mar 29, 2011 8:52am
Quoting redsword11
Attachment
hello Reds do you mean early signs of reversal? with the candle formation
  • #13,796
  • Mar 29, 2011 8:55am Mar 29, 2011 8:55am
Quoting King Kong
hello Reds do you mean early signs of reversal? with the candle formation

of course, what do you think l am reffering to - CANDLE COUNT, MOMENTUM CAN BE MEASURED THIS WAY - SIMPLE


you have 3 bears and one bull that covers the same or more ground than the 3 bears - which way is momentum switching?


its too simple
  • #13,797
  • Mar 29, 2011 8:59am Mar 29, 2011 8:59am
Quoting redsword11
of course, what do you think l am reffering to - CANDLE COUNT, MOMENTUM CAN BE MEASURED THIS WAY - SIMPLE


you have 3 bears and one bull that covers the same or more ground than the 3 bears - which way is momentum switching?


its too simple

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there ......... it is, how difficult is COUNTING CANDLES TRADER?
  • #13,798
  • Mar 29, 2011 9:08am Mar 29, 2011 9:08am
Quoting geniusztc
so ,,,,,where is your positions now ?
gen,
you've been around the J16 thread a while. You will have noticed that many of us take profits at the First Trouble Area. Why do we do that?

Because Red and a lot of other smart money is there ready to bounce price right back at us.

Respect the FTA = Respect Red, like it or not.

There are plenty of threads where antagonism is celebrated. Posts like the above would be better suited there.

Sorry for not posting a chart
  • #13,799
  • Mar 29, 2011 9:10am Mar 29, 2011 9:10am
Quoting redsword11
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right here ...........market doesn't scare me
Hey look, pips! Well done Red. Looking to close at this supply zone or take it higher?
  • #13,800
  • Mar 29, 2011 9:10am Mar 29, 2011 9:10am
Quoting redsword11
in @ 1.59605

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