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Romancing the Price

  • #781
  • Aug 26, 2011 11:09am Aug 26, 2011 11:09am
tg hit.. closed.. notice how fast traveled down compare to up..

not taking long atm.. i'll wait and see reactions first..

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Quoting KennyZ
sure.. see the chart below..

i locked the new entry [short] bit early as the pair is near to it's historical lows..

ps/. on previous chart there was only buy line and the current below one just sell.. red line was/is stop.. no "Buy and Sell horizontal lines" on these USDSGD charts..
  • #782
  • Aug 26, 2011 12:35pm Aug 26, 2011 12:35pm
Hello! I have a question...in the pic attached i marked a zone of what i consider to be demand. Doesnt matter if i drew the lines correctly or not! Notice the bar marked by the blue down arrow moves 'away' from the zone. If i wanted to buy at that demand area could i do it 2 bars later after the blue down arrow or 2 days later at the 2nd blue arrow? Why? Im only interested in the action between the 2 vertical lines and the one marked by the 2nd blue arrow!

In english, what im asking is: how long of period of time needs to pass since price is leaving the demand zone in order for me to place the order and what does price have to do? I mean lets say we have an uptrend and we have a supply zone at some point and price moved down and away from it! This could just be a retrace in an uptrend, no? How do i distinguish between retrace and impulsive move? Thank you!
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  • #783
  • Aug 26, 2011 4:24pm Aug 26, 2011 4:24pm
Quoting KennyZ
notice how fast traveled down compare to up..



Attachment
Hi Ken,
is this a "static" rule for you when not to take a PO?
  • #784
  • Aug 26, 2011 5:54pm Aug 26, 2011 5:54pm
Quoting Alexone
Hello! I have a question...in the pic attached i marked a zone of what i consider to be demand. Doesnt matter if i drew the lines correctly or not! Notice the bar marked by the blue down arrow moves 'away' from the zone. If i wanted to buy at that demand area could i do it 2 bars later after the blue down arrow or 2 days later at the 2nd blue arrow? Why? Im only interested in the action between the 2 vertical lines and the one marked by the 2nd blue arrow!

In english, what im asking is: how long of period of time needs to pass since price...
you are asking irrelevant questions.. check this article (link below) then go through PIE charts in pdf file on first post of this thread or online version.. study those charts until you can see the light.. believe me this is the best method to follow if you are serious about trading..

article
online PIE charts


--------------------------------------

Quoting MCFly
Hi Ken,
is this a "static" rule for you when not to take a PO?
nope, i don't have any static rule.. please see the first USDSGD chart i posted.. see stacked demand zones.. check daily chart too.. add to these it's been friday and you'll know the answer as to why i didn't take the trade..

beside, i mainly scalp.. not often i take planned swing trades..
  • #785
  • Edited 6:41pm Aug 26, 2011 6:13pm | Edited 6:41pm
Here's some home work for you

If you can work it out for yourself, you have cracked one truth about the markets.

Please do try and work it out though, without scrolling down to find the answer.

Best

If
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  • #786
  • Aug 26, 2011 6:53pm Aug 26, 2011 6:53pm
Quoting KennyZ
you are asking irrelevant questions.. check this article (link below) then go through PIE charts in pdf file on first post of this thread or online version.. study those charts until you can see the light.. believe me this is the best method to follow if you are serious about trading..
If how price is leaving an area is irrelevant then why am i being sent to watch Sam Seiden videos? Almost every video i have watched i heard Sam saying : 'look how price left this area bla bla bla'!

Quoting Ifmyante
Here's some home work for you

If you can work it out for yourself, you have cracked one truth about the markets.

Please do try and work it out though, without scrolling down to find the answer.

Best

If
Pls dont laugh (very hard)...this is how i see it. Tbh i dont consider neither of those true engulfings but apparently red is using this terminology!
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  • #787
  • Aug 26, 2011 7:26pm Aug 26, 2011 7:26pm
Quoting Ifmyante
Here's some home work for you

If you can work it out for yourself, you have cracked one truth about the markets.

Please do try and work it out though, without scrolling down to find the answer.

Best

If
Here's what I see.
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  • #788
  • Edited 7:49pm Aug 26, 2011 7:38pm | Edited 7:49pm
Quoting Alexone
Pls dont laugh (very hard)...this is how i see it. Tbh i dont consider neither of those true engulfings but apparently red is using this terminology!
Thanks for the effort, Alex, but it's much simpler than that.

And I'm also glad that you no longer feel it's due to the demand area you queried earlier, which I've added notes to, below
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  • #789
  • Edited Aug 27, 2011 5:16am Aug 26, 2011 7:41pm | Edited Aug 27, 2011 5:16am
Quoting biDc
Here's what I see.
Thanks for the effort.

The problem is, it does nothing to pinpoint the exact turning point.

I did give an hint on the chart.

I'll make it more clear:

The answer is in M1

Edit: Isn't that a beautiful PPZ you drew?
  • #790
  • Aug 26, 2011 7:47pm Aug 26, 2011 7:47pm
Quoting Ifmyante
Thanks for the effort.

The problem is, it does nothing to pinpoint the exact turning point.

I did give an hint on the chart.

I'll make it more clear:

The answer is in M1
I can't reach that far back on my M1 chart, but im going to take a wild guess that its some sort of PA? =)
  • #791
  • Aug 26, 2011 7:53pm Aug 26, 2011 7:53pm
Quoting biDc
I can't reach that far back on my M1 chart, but im going to take a wild guess that its some sort of PA? =)
I wet myself a little
  • #792
  • Aug 26, 2011 8:05pm Aug 26, 2011 8:05pm
Quoting Ifmyante
I wet myself a little
If we look for price action on M1 in demand/supply zones from H4 dont we need to draw the zones 'to the pip' accurate? That doesnt seem like something i would be able to do ever - draw the zones to the pip i mean! And how can something be much simpler if no one answers correctly?
  • #793
  • Aug 26, 2011 8:16pm Aug 26, 2011 8:16pm
Quoting Alexone
If we look for price action on M1 in demand/supply zones from H4 dont we need to draw the zones 'to the pip' accurate? That doesnt seem like something i would be able to do ever - draw the zones to the pip i mean! And how can something be much simpler if no one answers correctly?
Have you looked at the demand zone in M1?
  • #794
  • Aug 26, 2011 8:23pm Aug 26, 2011 8:23pm
Infy i saw ur homework ..Ok here is my thinking ..
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #795
  • Aug 26, 2011 8:36pm Aug 26, 2011 8:36pm
Different feed here! Are u suggesting buying over the top of the green bar marked by the arrow? What about the times when it breaches the zone then it engulfs it, then it breaches it again and so on...After all this is m1 we are talking about! Or maybe im missing what u are trying to show me. Mangalesh why would u ever exit based on m1 timeframe from a demand zone on h4? I thought the whole point of this m1 entry would be to increase reward risk tenfold!
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  • #796
  • Aug 26, 2011 8:38pm Aug 26, 2011 8:38pm
Quoting mangalesh
Infy i saw ur homework ..Ok here is my thinking ..
The future is written in the past.

Look to the demand zone price is reacting to
  • #797
  • Aug 26, 2011 8:46pm Aug 26, 2011 8:46pm
hi alex ,

I would like to remove partial profit there coz the entry was with that tf .I will run remaining for the zone tg wer i entered ..also i see h4 tg is there ..





Quoting Alexone
Different feed here! Are u suggesting buying over the top of the green bar marked by the arrow? What about the times when it breaches the zone then it engulfs it, then it breaches it again and so on...After all this is m1 we are talking about! Or maybe im missing what u are trying to show me. Mangalesh why would u ever exit based on m1 timeframe from a demand zone on h4? I thought the whole point of this m1 entry would be to increase reward risk tenfold!
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #798
  • Aug 26, 2011 9:07pm Aug 26, 2011 9:07pm
Quoting Ifmyante
The future is written in the past.

Look to the demand zone price is reacting to
I understand what u are sayin but i dont see the point...I mean if we see any kind of reversal cant we go ahead and argue that theres surely a demand zone on m1 inside the demand zone on h4?
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  • #799
  • Aug 26, 2011 9:36pm Aug 26, 2011 9:36pm
Will be looking to short around h4 or below zone by next week ..Trend line has been broken as well as looks like demand tl turning into supply tl ..
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #800
  • Aug 26, 2011 9:45pm Aug 26, 2011 9:45pm
IF you have a demand zone on h4 , there are more buyers .

So taking scalping with the help of H4 really proves that there are many buyers . But coz of there are many buyers we cant take it without any confirmation , it becomes as gambling as red says .

All you have to look for a confirmation with a high probability on ur side . High probability i mean working very well for you( 10 out of 6 wins) as well as ,has less risk and more reward . The enteries which you have seen on eu had less risk if you have placed the sl just below the engulf bar you would have more reward with less risk . You can remove partial profit there and run the remaining for the 4hour target .

As red says even supply and demand zones work in lesser from 1 minute till monthly . But as far i have seen it works , but if the price is near supply zone on h4 and u have a 5 or 15 minute zone as demand entry , you should not buy there . Since H4 supply will have more and more sellers since price has stalked for a lot of time and sellers came out , showing a strong supply area . So you shd not buy at oversellers area as well as you should not sell at over buyers area . Am trying to follow these priciples and these working good for me till now .

Have a nice day









Quoting Alexone
I understand what u are sayin but i dont see the point...I mean if we see any kind of reversal cant we go ahead and argue that theres surely a demand zone on m1 inside the demand zone on h4?
Trading is all about probability, low risk/high reward ,buy low/sell high
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