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Romancing the Price

  • #321
  • Jun 30, 2011 10:06am Jun 30, 2011 10:06am
i was wondering if anyone knows how to demo trade futures on MT4.
  • #322
  • Jun 30, 2011 10:51am Jun 30, 2011 10:51am
H4 and Daily supply and stochs are OB
Attached Image (click to enlarge)
Click to Enlarge Name: audusdsd.gif Size: 21 KB
  • #323
  • Jun 30, 2011 1:23pm Jun 30, 2011 1:23pm
Quoting Les_Paul
Hi, I am learning how to use the probability enhancer correctly. Can you pls tell me how you would classify this level? I mean the strength of it - the way PA left it.

I gave 1 of 2, PA leaves gradually and then after a couple of bars it plummets.

How would you score this one?

Thanks

Les_Paul

Attachment

EDIT: The level was crappy, PA went through it like a hot knife through butter...

Take it on the second or third engulf down, start selling into the flag with tight stops
  • #324
  • Jun 30, 2011 6:07pm Jun 30, 2011 6:07pm
from emene:

"As RED taught me that traders help traders, I am uploading here a very stupid indy that someone had the kindness to develop a bit further for me, and which helps me identifying demand and supply areas, aka engulfings, sparing me with the boring search for them.

I hope you will like it, if some coders are reading this, please add alert to it, improve it, and then, we might have to shut FF down cause we'll be kicked out for making too many pips."
Attached File(s)
File Type: mq4 CANDLESTICK_test.mq4   14 KB | 1,676 downloads
File Type: mq4 CANDLESTICK_test_wicks.mq4   14 KB | 1,621 downloads
  • #325
  • Edited 10:25pm Jun 30, 2011 10:12pm | Edited 10:25pm
Great post about engulfing bars by emene on the Price is everything thread. Well worth reproducing it all kenny.

Thought I would post a chart of engulfing lines being wicked.

http://i52.tinypic.com/2afisl5.jpg
Good Trading
  • #326
  • Edited 12:49am Jul 1, 2011 12:41am | Edited 12:49am
Maybe i was not clear enough. What I meant is that engulfings on the left of your chart represent key levels on the right of your chart, and price will likely react at those areas. The circles are meant to show you how price did react at the previous three engulfing zones. What you are talking about is the PA that occured in the zone of previous engulfing, OK, so you're not mistaken, thos pins are not engulfings, but they are confirming that something is happening in reaction of previous strong moves. Is that better ?

Quoting red2010
thanks for taking the time to make your post emene. much appreciated. i think i had it confused myself so im glad you pointed it out. i guess i thought outside bars did kind of mean englufing. i the sense the completely covered/absorbed all of the previous candles open and close.
Attached Image (click to enlarge)
Click to Enlarge Name: crude.jpg Size: 141 KB
Hello.
  • #327
  • Jul 1, 2011 1:22am Jul 1, 2011 1:22am
Quoting KennyZ
from emene:

"As RED taught me that traders help traders, I am uploading here a very stupid indy that someone had the kindness to develop a bit further for me, and which helps me identifying demand and supply areas, aka engulfings, sparing me with the boring search for them.

I hope you will like it, if some coders are reading this, please add alert to it, improve it, and then, we might have to shut FF down cause we'll be kicked out for making too many pips."
Don't know why but the indicators are slowing my mt4 heavily. Additionally it is deleting my trendlines everytime I'm changing the tf's.
  • #328
  • Jul 1, 2011 2:02am Jul 1, 2011 2:02am
True, trendlines must now be drawn in another chart, or they'll disappear. As I said, there is more coding to do but i'm not a coder, unfortunately. As for the slow down, I had no trouble but I guess if you're working with 30 pairs, it could slown down the processor, indeed.

Quoting MCFly
Don't know why but the indicators are slowing my mt4 heavily. Additionally it is deleting my trendlines everytime I'm changing the tf's.
Hello.
  • #329
  • Jul 1, 2011 3:36am Jul 1, 2011 3:36am
Quoting emene
Maybe i was not clear enough. What I meant is that engulfings on the left of your chart represent key levels on the right of your chart, and price will likely react at those areas. The circles are meant to show you how price did react at the previous three engulfing zones. What you are talking about is the PA that occured in the zone of previous engulfing, OK, so you're not mistaken, thos pins are not engulfings, but they are confirming that something is happening in reaction of previous strong moves. Is that better ?
thank you for the detailed explanation. i see why you marked the right hand side of your chart the way you did now. basically we are looking for engulfing on the left, marking them as supply/demand zones, and then waiting for PA to return to those engulfing areas.

do you use PA confirmation to enter the trade once price returns there or do you set orders?

also i had a few questions about exactly how to spot the engulfing patterns in the first place please...

thanks for the help
Attached Image (click to enlarge)
Click to Enlarge Name: crude2.png Size: 510 KB
  • #330
  • Jul 1, 2011 3:48am Jul 1, 2011 3:48am
You can wait for confirmation or just set orders.And for confirmation u can use again RED's words THERE IS NO MOVEMENT UP OR DOWN WITHOUT ENGULFING.

FX
Quoting red2010
thank you for the detailed explanation. i see why you marked the right hand side of your chart the way you did now. basically we are looking for engulfing on the left, marking them as supply/demand zones, and then waiting for PA to return to those engulfing areas.

do you use PA confirmation to enter the trade once price returns there or do you set orders?

also i had a few questions about exactly how to spot the engulfing patterns in the first place please...

thanks for the help
  • #331
  • Jul 1, 2011 4:00am Jul 1, 2011 4:00am
Quoting KennyZ
from emene:

"As RED taught me that traders help traders, I am uploading here a very stupid indy that someone had the kindness to develop a bit further for me, and which helps me identifying demand and supply areas, aka engulfings, sparing me with the boring search for them.

I hope you will like it, if some coders are reading this, please add alert to it, improve it, and then, we might have to shut FF down cause we'll be kicked out for making too many pips."
whats the difference between the 2, and are they basically marking engulfing areas for you, because they look good.
  • #332
  • Jul 1, 2011 5:06am Jul 1, 2011 5:06am
I trade via Touch and go. Well it just missed my entry, i guess there was more willing demand just above the level itself. My question is: is it a good idea to buy when the price reaches my ENTRY? profit margin somehow looks good. atleast: r:R = 1: 3


http://www.shrani.si/f/1V/eu/WxYGm9u...1-13-58-31.png

Thank you MIKY
--Be in the NOW or get lost in time.--
  • #333
  • Jul 1, 2011 5:10am Jul 1, 2011 5:10am
Quoting Miky
I trade via Touch and go. Well it just missed my entry, i guess there was more willing demand just above the level itself. My question is: is it a good idea to buy when the price reaches my ENTRY? profit margin somehow looks good. atleast: r:R = 1: 3




Thank you MIKY
is that using that indi, because i put my indi on the same chart and it didnt show that level at the bottom, how did you come up with that level
?
  • #334
  • Edited 5:57am Jul 1, 2011 5:41am | Edited 5:57am
see attached chart

explanation;

hourly demand level as labeled, price had second touch which sometimes goes deeper.

failed to close lower than 1 hour engulfing of yesterday luchtime.

on 5 min chart we can see large bull candles and small pull backs, is this finding more buyers ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd demand.gif Size: 23 KB
I need to finish something i started
  • #335
  • Jul 1, 2011 6:02am Jul 1, 2011 6:02am
Quoting deankenny21
is that using that indi, because i put my indi on the same chart and it didnt show that level at the bottom, how did you come up with that level
?
You always need to go the logic through!! I actually don't use those SUP/DEM indicators.

http://www.shrani.si/f/1h/bE/4JZyzJ1...-11-analiz.png

Lets get pipin' MIKY

EDIT: well there is a chance for prices to reach upper supply levels.(nevermind the blue pointer)
--Be in the NOW or get lost in time.--
  • #336
  • Jul 1, 2011 6:08am Jul 1, 2011 6:08am
Quoting Miky
You always need to go the logic through!! I actually don't use those SUP/DEM indicators.



Lets get pipin' MIKY

EDIT: well there is a chance for prices to reach upper supply levels.(nevermind the blue pointer)
i been looking for engulfing bars as supply now you marked areas that are not engulfing like the bit you labelled new supply
  • #337
  • Jul 1, 2011 6:20am Jul 1, 2011 6:20am
looking for the area with the red arrow hold as support (small demand area) on 5 min chart.

if it breaks the last high on 5 min i will move my stop to break even

w
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd demand update.gif Size: 25 KB
I need to finish something i started
  • #338
  • Jul 1, 2011 6:47am Jul 1, 2011 6:47am
Quoting emene
Maybe i was not clear enough. What I meant is that engulfings on the left of your chart represent key levels on the right of your chart, and price will likely react at those areas. The circles are meant to show you how price did react at the previous three engulfing zones. What you are talking about is the PA that occured in the zone of previous engulfing, OK, so you're not mistaken, thos pins are not engulfings, but they are confirming that something is happening in reaction of previous strong moves. Is that better ?
Hi Emene,

Out of the 2 indicators, "CANDLESTICK_test.mq4" and "CANDLESTICK_test_wicks.mq4", which one are you using ?

And what are the actual differences between the 2 indicators as I could not easily see any visible differences ?

Thanks,
FB.
  • #339
  • Jul 1, 2011 6:50am Jul 1, 2011 6:50am
10 min's till news what do you guys think will price be at supply around then is it also a catalist to drive price down again. or will news drive price there for a reversal.

w

or of course my trade could just be wiped out
I need to finish something i started
  • #340
  • Jul 1, 2011 7:26am Jul 1, 2011 7:26am
First Long GbpUsd trade on H1 time frame with emene indicator.

Thanx a lot emene

btw: please ignore the sell limit and sell positions.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdeng.gif Size: 18 KB
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