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

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  • #121
  • Jun 20, 2011 2:52am Jun 20, 2011 2:52am
This is a nice exemple of how to be patient and analyze a chart !
Attached Image(s) (click to enlarge)
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  • #122
  • Jun 20, 2011 4:40am Jun 20, 2011 4:40am
Quote
This is a nice exemple of how to be patient and analyze a chart !
Be patient is the key. I don't have that pair EURSGD but i can read from your chart that P is in RM both on M and W, while in the little RM D his S+DT is going to be a very good R level, i'm right?
Because they are so important I'm training to seek RM,i will post something soon.
  • #123
  • Jun 20, 2011 11:47am Jun 20, 2011 11:47am
USDSGD: the RM is just for practice, in M the trend is down and we have an IPB(IH), the buyers are trying to push the P up.

http://img339.imageshack.us/img339/9817/usdsgdm.gif

In W the P is in RM, i think that buyers have to break the TL + RM for take control, The last bear candle (doji) looks like a battle to me.

http://img190.imageshack.us/img190/4125/usdsgdw.gif

I see on D the W confirmation, P is between RM W and TL.

http://img43.imageshack.us/img43/5338/usdsgdd.gif

I don't wanna go CT, i'll wait for a more clear situation.
  • #124
  • Jun 20, 2011 1:09pm Jun 20, 2011 1:09pm
[quote=Nino;4708943]
Quote
USDSGD: the RM is just for practice, in M the trend is down

http://img339.imageshack.us/img339/9817/usdsgdm.gif

Well done Nino !

That M chart is a beautiful one. Now look to D chart, after the sellers won where the P retreaces and tell me what do you see.
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  • #125
  • Jun 21, 2011 1:43am Jun 21, 2011 1:43am
Quoting Nino
Quoting fxgroup

Of course, on CADCHF i see RM everywhere!
that's the M one.
Nino, you should re-consider what a RM is.

Let's describe the 3 market directions:

 

  1. Uptrend: swings go up, higher lows are followed by higher highs and so on.
  2. Downtrend: swings go down, lower highs are followed by lower lows and so on.
  3. Range Market: swings go random, highs and lows are placed with no real order.

Now, look at your RMs again. Several of the swings you put inside your RM boundaries are nicely trending swings!

IE it's not enough to draw a rectangle around "lots of price action", you have to enter inside the market with your mind and see the underlying sense beyond the candles. It's like "feeling the Force" of Star Wars times.

Now look at your RMs again and redraw (and post) them excluding all the trending swings. You will see real RMs are not everywhere and most of all, they don't cover huge areas.

  • #126
  • Jun 21, 2011 5:12am Jun 21, 2011 5:12am
After seeing the sellers on all TFs, I jump on their boat.

Now it's time for MM (partial profit). An up move with a RET to 46 would be the best sign for my " out of market" .
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  • #127
  • Jun 21, 2011 6:46am Jun 21, 2011 6:46am
[quote=fxgroup;4709127]
Quoting Nino
That M chart is a beautiful one. Now look to D chart, after the sellers won where the P retreaces and tell me what do you see.
On D i see the M Doji candle (2010.08.01) as a new RM where buyers are trying to push up P several times but failed (DT=strong R).
We may see the big pressure of the sellers that reject the buyers under the D RM, with DBHLC and LL+LH we have the confirmation on WPD+WPG.

http://img713.imageshack.us/img713/6467/usdsgdd2.gif
  • #128
  • Jun 21, 2011 6:53am Jun 21, 2011 6:53am
Quoting dfumagalli
Nino, you should re-consider what a RM is.

Let's describe the 3 market directions:

 

  1. Uptrend: swings go up, higher lows are followed by higher highs and so on.
  2. Downtrend: swings go down, lower highs are followed by lower lows and so on.
  3. Range Market: swings go random, highs and lows are placed with no real order.

Now, look at your RMs again. Several of the swings you put inside your RM boundaries are nicely trending swings!

IE it's not enough to draw a rectangle around "lots of price action", you have to [b]enter inside...

Yes, you are right and i'm working on it, as i told i can't see the thruth but with more practice, hard work and your help i will do for sure! thanks you.
I'll post more charts soon.
  • #129
  • Jun 21, 2011 7:34am Jun 21, 2011 7:34am
The S/R levels are crucial in trading and have the porpose to find those levels where the traders get in/ out of market, make RET in order to find more sellers/ buyers, protect their profit, but most important protect their losses. The Price is atracted by the levels for all these reasons.

A corectly identification of S/R levels give us the elements/informations to understand WPD+WPG.

There are known 2 types of S/R levels: static + dynamic.

There are 3 ways to identify the static levels. At this stage of the thread we will use and study only the first one: the swing's close.

The dynamic are diveded into three types and every one give us different informations:
-TL
-Momentum
-supply/demand level.

At this stage we will use only the first one= TL.
The TL are the most simple and common dynamic levels and are very easy to use for a right identification of different patterns as channels, triangles, wedges,etc.
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  • #130
  • Jun 21, 2011 7:37am Jun 21, 2011 7:37am
Dynamic levels.
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  • #131
  • Jun 21, 2011 7:44am Jun 21, 2011 7:44am
Static level.
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  • #132
  • Jun 21, 2011 8:18am Jun 21, 2011 8:18am
EURCHF...1.23....????......Let's see!
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  • #133
  • Jun 22, 2011 7:33am Jun 22, 2011 7:33am
Quoting dfumagalli
Nino, you should re-consider what a RM is.

Let's describe the 3 market directions:

 

  1. Uptrend: swings go up, higher lows are followed by higher highs and so on.
  2. Downtrend: swings go down, lower highs are followed by lower lows and so on.
  3. Range Market: swings go random, highs and lows are placed with no real order.

Now, look at your RMs again. Several of the swings you put inside your RM boundaries are nicely trending swings!

IE it's not enough to draw a rectangle around "lots of price action", you have to [b]enter inside...

Hope they are good now, i'm a bit confused but at least i don't see RMs everywhere.

http://img30.imageshack.us/img30/3671/cadchfmrms.gif
  • #134
  • Jun 22, 2011 12:35pm Jun 22, 2011 12:35pm
Here are some good RM. Look where the P did RET after getting out of it.

P.S. You are working very good Nino, I can promise you that if you go on as you do now, you will get it sooner than you think!
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  • #135
  • Jun 22, 2011 12:39pm Jun 22, 2011 12:39pm
This is something to watch !
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  • #136
  • Jun 22, 2011 1:39pm Jun 22, 2011 1:39pm
With the trend....WPG...???
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  • #137
  • Jun 22, 2011 3:45pm Jun 22, 2011 3:45pm
RR

If you want to buy or sell one of this car...the best thing you have to do is...WAITING !
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  • #138
  • Jun 23, 2011 1:52am Jun 23, 2011 1:52am
M doji= indecisione= buyers+sellers
W-2011.05.29= IPB(HM)= there are the sellers
W-2011.06.05= BEOB= sellers
D-06.20= end of RET= entry.

1.02 as target and I will close my trade no matter what as part of my PTT& TTP.
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  • #139
  • Jun 23, 2011 7:02am Jun 23, 2011 7:02am
Let's see if I understood something from your CT trade.

http://img585.imageshack.us/img585/2010/audcaddt.gif
  • #140
  • Jun 23, 2011 9:55am Jun 23, 2011 9:55am
[quote=Nino;4720197]
Quote
Let's see if I understood something from your CT trade.

It is a CT only if you are looking to the long term of M, but even there the last M candle's sentiment + the fact that the M is bellow S, tell me that the sellers are there and are fighting with buyers.

Your TL was another factor in my trading decision, but not the most important.
Reading the PRICE in order to recognize buyers and sellers is what I'm trying to teach here and is fundamental for ALL my trading decisions.

P.S. My grandfather has always said to me: when the buyers are buying= you buy and when the sellers are selling= you sell. If you will trade against them, you will always be a looser. Recognize them(buyers&sellers) and you will be a winner. I can assure you that my grandfather is a very wise man.
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