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  • #445,261
  • May 19, 2011 12:24pm May 19, 2011 12:24pm
Quoting Gleneagles
PA will find any level that is important and react to it. I work of a rough guide spaced 20 pips apart and trade the patterns that form around these levels.

You can complicate it a lot more by putting in additional levels like fibs pivots etc but I prefer clean charts. I do mark DPP and daily open on the chart though when I start trading.
i find that the more levels i am looking at the more tendency i have to "wait & see" what happens at this level and then end up entering too late or buying a top or selling a bottom. if you notice my entries are getting better but i still tend to be on the late side.

do you wait for the m5 candle to close below (for a sell) before you get in? i have been and it saves my butt some of the time and other times i miss the trade (or enter late) cuz the dang thing takes off. hate it when that happens too
  • #445,262
  • May 19, 2011 12:26pm May 19, 2011 12:26pm
Quoting Gleneagles
PA will find any level that is important and react to it. I work of a rough guide spaced 20 pips apart and trade the patterns that form around these levels.

You can complicate it a lot more by putting in additional levels like fibs pivots etc but I prefer clean charts. I do mark DPP and daily open on the chart though when I start trading.
TY I see your charts look very clean. Mine do to.

Do you use volume a volume?

I take it the daily open is NY open.

I want to trade naked, however there is a huge amount of information to take in to be able to do this. Hence the draw for indicators that do the work for you right.
  • #445,263
  • May 19, 2011 12:26pm May 19, 2011 12:26pm
Quoting Venice
LOL, here's what mine look like. Just a pretty simple fractal support & resistance lines drawn to help me better identify supply & demand zones.
I like simple ...I keep things simple...I am simple

The human mind tends to look for a complicated solution to any problem that is perceived to be complicated ..often at the expense of considering a simple solution?
Trading is perceived to be complicated so we look for a complex solution?
" Never let the past hold the future to ransom "
  • #445,264
  • May 19, 2011 12:27pm May 19, 2011 12:27pm
guys - is anyone shorting from here? I have my longs at 1.4200 and cannot decide if to keep them overnight or close them or go short - anyone has any setups??? thx for sharing...
  • #445,265
  • May 19, 2011 12:28pm May 19, 2011 12:28pm
Quoting johnnyrei
Woow - do you know if she is drawing any particular lines / circles or just plain sight?
Nothing...zip...nada..nichts...
" Never let the past hold the future to ransom "
  • #445,266
  • May 19, 2011 12:28pm May 19, 2011 12:28pm
eu 15m candle closing below 4309 will sign retrace to 4280 4268 before up again
  • #445,267
  • May 19, 2011 12:28pm May 19, 2011 12:28pm
Quoting Kambooj
The break of the 4300 level from a thrust that developed in the 4250 zone is putting a different picture from a trendline perspective. Whatever Elliot Wave count that you decide to put on this wave structure doesnt matter, all that it heralds is that the upward motion has got some fair distance to travel. The lower red circle will not be breached (the low of 4050 I mean) until the motion that started from the lows of 4050 comes close to at least the upper circle in blue. For now we are in a bullish scenario on this pair. Expect quite a corrective...
We will not see any more of a corrective movement above 1.4500.
We will not reach 1.4900 this year. Apparentley this is going to drop big time down the black hole once they realize Greece is in twice big sh!t that they admit to it. And the rest PIGS will flow. And then fundies-tech combo will wipe out any bulls on their way: panic selling. Just look at the beginning of May, when there was a rumour that Greece might be considering to leave the EURO zone.800 pips drop in few days.

USA debt is a problem? so we will let them go default? Hmmm, aren't they too big to bancrupt?
Just a contrarian point of view, nothing personal.

Seb
  • #445,268
  • May 19, 2011 12:30pm May 19, 2011 12:30pm
Quoting AllyB
i find that the more levels i am looking at the more tendency i have to "wait & see" what happens at this level and then end up entering too late or buying a top or selling a bottom. if you notice my entries are getting better but i still tend to be on the late side.

do you wait for the m5 candle to close below (for a sell) before you get in? i have been and it saves my butt some of the time and other times i miss the trade (or enter late) cuz the dang thing takes off. hate it when that happens too
Exactly. I keep it simple.

- Am I buying/selling into a supply/demand zone or with it?
- Is my close below the most recent important open/close.
- Are we playing a breakout pattern? Or a reversal pattern? This can dictate where the order goes (either at the close of the new candle, or pullback to breakout level).
- Close when price says its going the opposite direction, or we have reached the next pivot / supply / demand area.
  • #445,269
  • May 19, 2011 12:33pm May 19, 2011 12:33pm
Quoting Kambooj
The break of the 4300 level from a thrust that developed in the 4250 zone is putting a different picture from a trendline perspective. Whatever Elliot Wave count that you decide to put on this wave structure doesnt matter, all that it heralds is that the upward motion has got some fair distance to travel. The lower red circle will not be breached (the low of 4050 I mean) until the motion that started from the lows of 4050 comes close to at least the upper circle in blue. For now we are in a bullish scenario on this pair. Expect quite a corrective...
I just fell in love with your charts - seriously Kambooj - woow!
  • #445,270
  • May 19, 2011 12:33pm May 19, 2011 12:33pm
Quoting AllyB
i find that the more levels i am looking at the more tendency i have to "wait & see" what happens at this level and then end up entering too late or buying a top or selling a bottom. if you notice my entries are getting better but i still tend to be on the late side.

do you wait for the m5 candle to close below (for a sell) before you get in? i have been and it saves my butt some of the time and other times i miss the trade (or enter late) cuz the dang thing takes off. hate it when that happens too
Some of the patterns are called "rearview patterns" , the ones that breeze through the next level without looking back. It seems like you have identified them already
You catch them at the next level rather than jump in late, I will post some examples next week again, don`t want to clog up the thread with "dustbin trades".
" Never let the past hold the future to ransom "
  • #445,271
  • May 19, 2011 12:34pm May 19, 2011 12:34pm
Quoting Gleneagles
Nothing...zip...nada..nichts...
and what time frame is she using?
  • #445,272
  • May 19, 2011 12:35pm May 19, 2011 12:35pm
Quoting Gleneagles
Some of the patterns are called "rearview patterns" , the ones that breeze through the next level without looking back. It seems like you have identified them already
You catch them at the next level rather than jump in late, I will post some examples next week again, don`t want to clog up the thread with "dustbin trades".
  • #445,273
  • May 19, 2011 12:36pm May 19, 2011 12:36pm
Quoting johnnyrei
guys - is anyone shorting from here? I have my longs at 1.4200 and cannot decide if to keep them overnight or close them or go short - anyone has any setups??? thx for sharing...

Im selling all rallies into supply....no need to reinvent the wheel on this retrace
  • #445,274
  • May 19, 2011 12:36pm May 19, 2011 12:36pm
Quoting Venice
Exactly. I keep it simple.

- Am I buying/selling into a supply/demand zone or with it?
- Is my close below the most recent important open/close.
- Are we playing a breakout pattern? Or a reversal pattern? This can dictate where the order goes (either at the close of the new candle, or pullback to breakout level).
- Close when price says its going the opposite direction, or we have reached the next pivot / supply / demand area.
good stuff venice! thanks
  • #445,275
  • May 19, 2011 12:37pm May 19, 2011 12:37pm
Quoting johnnyrei
and what time frame is she using?
5M
" Never let the past hold the future to ransom "
  • #445,276
  • May 19, 2011 12:39pm May 19, 2011 12:39pm
Is this a small bull flag on the 15min? A continuation pattern.
  • #445,277
  • May 19, 2011 12:41pm May 19, 2011 12:41pm
Still not closed all positions , watching how develop this 5th subwave of 3 or ended already price to come 4304 then , 4 th limit 4288.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #445,278
  • May 19, 2011 12:44pm May 19, 2011 12:44pm
Quoting Gleneagles
5M

ok - my new chart update - will try to copy idea of plain charts - look at patterns in black circles - next price movement is down. Purple circle represent same pattern but reversed - therefore price went up - what da ya think?
Attached Image (click to enlarge)
Click to Enlarge Name: haha.png Size: 73 KB
  • #445,279
  • May 19, 2011 12:44pm May 19, 2011 12:44pm
My pitchfork I posted twice this week works like a charm. :-) No brainer. no wicked indicators and calculations.
  • #445,280
  • May 19, 2011 12:45pm May 19, 2011 12:45pm
Quoting needpips
Im selling all rallies into supply....no need to reinvent the wheel on this retrace
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