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Close Price VS Median Price (or other price types) 33 replies

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  • #61
  • Jun 9, 2011 4:18am Jun 9, 2011 4:18am
brilliant!
  • #62
  • Jun 9, 2011 4:33am Jun 9, 2011 4:33am
@fxgroup: interesting price action on Gold at the moment

here is the D chart, W chart still the same DBHLC in progress, while M chart we got Hanging Man / HM

http://highyielders.files.wordpress....old_9juned.jpg
  • #63
  • Jun 9, 2011 4:45am Jun 9, 2011 4:45am
Quoting fusiontrader
@fxgroup: interesting price action on Gold at the moment

here is the D chart, W chart still the same DBHLC in progress, while M chart we got Hanging Man / HM
It's very interesting indeed.

I also see a descending channel all to the right, so it may cross nicely with the triangle tip.

Finally, do you know where I could find a demo MT4 that streams gold, crude etc? I want to be able to follow these markets in case fxgroup or you keep analyzing them.
  • #64
  • Jun 9, 2011 4:57am Jun 9, 2011 4:57am
Lol did you notice? Instead of moving the thread to Trading Systems, they have merged it with another
  • #65
  • Jun 9, 2011 5:10am Jun 9, 2011 5:10am
@dfumagalli : i use this mT4 broker to follow all products (forex,commodities,cfds) .. http://www.mysmartfx.com/register/demo
  • #66
  • Jun 9, 2011 7:25am Jun 9, 2011 7:25am
another interesting WPD on the EUR/USD

http://highyielders.files.wordpress..../eum_9june.jpg

http://highyielders.files.wordpress..../euw_9june.jpg

http://highyielders.files.wordpress..../eud_9june.jpg
  • #67
  • Jun 9, 2011 8:11am Jun 9, 2011 8:11am
http://highyielders.files.wordpress..../eud_9june.jpg

it turns out the market break below RM on EURUSD Daily chart, waiting closing candle daily and start to selling on next rallies if the closing candle below RM..
  • #68
  • Jun 9, 2011 8:18am Jun 9, 2011 8:18am
[quote=fusiontrader;4677365]
Quote
@fxgroup: interesting price action on Gold at the moment

here is the D chart, W chart still the same DBHLC in progress, while M chart we got Hanging Man / HM

The Gold is an up trend in ALL TF=WPD=UP.
Your arrow that points down it's a CT directions.

Let me tell you that the volume on your chart is totally useless,because the forex is not a centralized market and your volume , it is only your broker's volume and not market's volume! Read my post regard psychological effects of the useless stuffs !
Nothing personal,just business
  • #69
  • Jun 9, 2011 8:26am Jun 9, 2011 8:26am
oh ok .. sorry i also still learning.. but how about volume on Gold ?
  • #70
  • Jun 9, 2011 8:50am Jun 9, 2011 8:50am
[quote=fusiontrader;4677864]
Quote
another interesting WPD on the EUR/USD

The fundamental elements (Ticket and others) have a minimal effect for my trading decisions for a very simple reason : I belive that the Big Fishes allready know an information before its released and they allready made their moves...you don't have to belive me, take a calendar and a chart and look the candles before the news!

I see that you are practicing with RMs. This is very,very good,because the RM is the most market's common fase.The market stay in RM the most part of its time. The RM is the place where the most traders becomes 95%=liquidity.
RM is the most important part of WPD !

As I said , at this stage of the thread we use the bar/candle/swing's CLOSE, even for RM. In the next thread's stages we will study all the methods for a right level's identification. Take a look to this chart in order to see the differences.

P.S. Put some RM on a higher TF to talk together about it!
Attached Image
Nothing personal,just business
  • #71
  • Jun 9, 2011 9:15am Jun 9, 2011 9:15am
Now...it's time for a good.....chart!
Attached Image (click to enlarge)
Click to Enlarge Name: ns.png Size: 51 KB
Nothing personal,just business
  • #72
  • Jun 9, 2011 9:36am Jun 9, 2011 9:36am
Quoting fxgroup
These are my MM levels.

Are somebody there to tell me why did I made this trade!
Hey fxgroup - I was wondering if you could explain your reasoning behind this trade that you took. I look forward to learning.

Thanks!
  • #73
  • Edited 10:52am Jun 9, 2011 10:35am | Edited 10:52am
Quoting fusiontrader
it turns out the market break below RM on EURUSD Daily chart, waiting closing candle daily and start to selling on next rallies if the closing candle below RM..
I have made some little modifications to your graph.

The basic RMs should be drawn on open and close of the candles, not on the highs and lows. I have drawn RMs in thick red.

http://img29.imageshack.us/img29/680...9eurusdd01.png

The other point, is that I would not be so sure about selling rallies:

- WPD M = uptrend, therefore you'd go against a strong uptrend.

- The "W" formation at the bottom plays as bullish flag, another tip about the trend.

- There is a good support below that bear bandle (in blue), it's sitting on top of the RM to the left of the graph. Since WPD on the monthly chart is going up, it's very possible that P will bounce on that support and will retrace upwards. If the upsurge given by the current lunge will be strong enough, it's even possible that we'll see a break out over the RM.
  • #74
  • Jun 9, 2011 11:01am Jun 9, 2011 11:01am
@dfumagalli: OMG you're chart reading absolutely makes sense..i see now Weekly chart on a progress to breakup above flag. thx for the input

@fxgroup: as usually nice pick on NZDSGD , many thx also for more explanation about RM
  • #75
  • Jun 9, 2011 4:32pm Jun 9, 2011 4:32pm
[quote=psydox;4678407]
Quote
Hey fxgroup - I was wondering if you could explain your reasoning behind this trade that you took. I look forward to learning.

Thanks!

Wellcome psydox and thanks for your contribution!

11.55 very strong S level.
Last M closed as IPB (IH)= the first sign on M that there were some buyers.
W chart- the buyers ca turn the P back and close above level.05.22 close as IPB (IH)=the first sign on W that the buyers start to load and make HH+HL.
D chart- 06.01 the P reaches 11.55 and the buyers take controll with buob=entry point.

Remember that your contribution will help you and others as you.
Nothing personal,just business
  • #76
  • Jun 10, 2011 3:41am Jun 10, 2011 3:41am
Always with the trend
Nothing personal,just business
  • #77
  • Jun 10, 2011 3:44am Jun 10, 2011 3:44am
The chart!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdsgd.gif Size: 36 KB
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  • #78
  • Jun 10, 2011 4:37am Jun 10, 2011 4:37am
Quoting fxgroup
The chart!
I think you should explain about your definition of "PB", because I am sure many see them as hammers, others check the other price action threads and see other criteria used to detect "A+ PB setups".
  • #79
  • Jun 10, 2011 5:10am Jun 10, 2011 5:10am
[quote=dfumagalli;4680736]
Quote
I think you should explain about your definition of "PB", because I am sure many see them as hammers, others check the other price action threads and see other criteria used to detect "A+ PB setups".

Being a down trend,that PB (technically couldn't be a PB), I see it just as a buyers's reaction at S level, this doesn't mean long trades. The safest way to trade , is to wait to see who has the controll at the level, just as my chart tells (a chart= 1000 words).
Attached Image (click to enlarge)
Click to Enlarge Name: nzdsgd.gif Size: 40 KB
Nothing personal,just business
  • #80
  • Jun 10, 2011 7:50am Jun 10, 2011 7:50am
CLEAN CHART
Attached Image (click to enlarge)
Click to Enlarge Name: usdsek.gif Size: 39 KB
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