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  • #141
  • Oct 24, 2011 3:36pm Oct 24, 2011 3:36pm
Quoting fxgroup
Waiting for " Plan the Trade& Trade the Plan " .
This is what I'm looking for:
Monthly in bearish overall trend,weekly in range market and daily in range market. I will wait the price to close bellow the weekly level what act as supports for the daily range market and to see the sellers confirmation of 1.3678 as resistance.
1.3284+1.2934 are the MM levels (1° and 2° targets for taking profit).
Do you remember this post?
Did you had the curiosity to watch the price of this pair?
Take a look at the price....TODAY !
Right to our target...and I'm not talking from something from the past, I'm talking about a live planning a trade !
You don't have to belive me...just take a look to YOUR chart !
Nothing personal,just business
  • #142
  • Oct 25, 2011 1:36pm Oct 25, 2011 1:36pm
[quote=msmarple;5067369]
Quote
We have news coming out of NZD

What does the last week candle tells you?
The inverted pin bar (IPB) at that important level gave us the first sign that we will meet some sellers.
Nothing personal,just business
  • #143
  • Oct 25, 2011 1:42pm Oct 25, 2011 1:42pm
This is a clear exemple of one of the advantages of this methodology.
How many traders would have traded that BEOB as PA candle of the yellow range market....but reading the price in weekly chart, we allready know WPD+ with the PB at the RM R that now act as S, we have the buyers confirmation.
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Nothing personal,just business
  • #144
  • Oct 25, 2011 3:40pm Oct 25, 2011 3:40pm
Quoting fxgroup
Psychology

Planning the trade and waiting the price to give us the confirmations at our levels.
1.32 the next target. We said this a few weeks ago.
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Nothing personal,just business
  • #145
  • Oct 26, 2011 3:16am Oct 26, 2011 3:16am
All the market analyze are made ONLY with the candle CLOSED.
We HAVE TO wait the W candle's close in order to see if the buyers could take the R's control or the sellers could still keep the price into the RM.
I know at this moment the W candle seems delicious, but by the end of the week, a lot of things could happen.
Attached Image (click to enlarge)
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Nothing personal,just business
  • #146
  • Oct 27, 2011 3:23am Oct 27, 2011 3:23am
Today the candle looks allready different. This is one of the reasons why we have to wait the candle's close.
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Nothing personal,just business
  • #147
  • Oct 27, 2011 2:42pm Oct 27, 2011 2:42pm
Quoting fxgroup
The weekly close will tell us everything we need to know.
We put this post few weeks ago..let's see the same pair today.
We said that the weekly candle will say if the price turns back in RM weekly and the S level of the RM will act again as S for a price's evolution to the RM's R(resistance).
The price did exactly what we plan and obvious we have traded our plan.
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Nothing personal,just business
  • #148
  • Oct 28, 2011 8:42am Oct 28, 2011 8:42am
A retest of 1.6 for some buyers will push the price up to the triangle.
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Nothing personal,just business
  • #149
  • Oct 29, 2011 3:44am Oct 29, 2011 3:44am
This is another exemple of how we read the price with this methodology.

WPD-Weekly= range market. The prise get out fo the RM and retest it with PB as buyers confirmation (double bottom also-DB-).
WPG-the 1° target is a clearly S/R level.
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  • #150
  • Oct 29, 2011 1:32pm Oct 29, 2011 1:32pm
Thank you for the continued chart examples - yes, the InvPB on NZDUSD weekly was a sign for me.

Also great examples audcad and eurgbp !

If I may I would like to ask how you go about trading this style on a daily/weekly routine.....assuming that you always wait for daily bar closes at least, does that mean you enter trades most often at about 5:00 p.m. EST ( US ) ? Or do you wait until the following morning and enter when the new day candle is already under way.... ?

I hope to post more charts next week. Once again thanks and please continue.


__________
michael
Be like water.
  • #151
  • Oct 29, 2011 2:50pm Oct 29, 2011 2:50pm
[quote=msmarple;5083696]Thank you for the continued chart examples -
Quote
yes, the InvPB on NZDUSD weekly was a sign for me.
A few days ago I was talking with a trader friend about the pair nzdusd and I said to him, on M chart I see HL and HH meanwhile on W chart I see LL+LH..so..for me..in a bullish overall trend the sellers had a strong reaction against the buyers. Looking to the daily candles I see buyers followed by sellers with a volatility more than usual. All these elements make me think that on this pair the buyers are fighting with sellers and untill this situation doesn't become clear..the price could do whatever it wants...I prefer to stay apart.

Quote
Also great examples audcad and eurgbp !
..and much more will come !

Quote
If I may I would like to ask how you go about trading this style on a daily/weekly routine.....assuming that you always wait for daily bar closes at least, does that mean you enter trades most often at about 5:00 p.m. EST ( US ) ? Or do you wait until the following morning and enter when the new day candle is already under way.... ?
Since my analizes are made on M+W charts with D entries, when the D candle is closed I put my orders. I don't wait till morning because the asian sesion is an important one but most of all it is an important part of M+W candles..as a M or a W chart contains all the sesions for a relative long term( the asian sesion will have the same direction with the long term trend).

Quote
I hope to post more charts next week. Once again thanks and please continue.
As long as someone will be interested in !
Nothing personal,just business
  • #152
  • Oct 29, 2011 7:43pm Oct 29, 2011 7:43pm
Good to see you do analysis on stocks too. This is going to be fun. I have been trading a style very similar to yours. Am gaining aditional insights from this thread, thanks.

I took this trade a few months ago .
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  • #153
  • Oct 30, 2011 12:15am Oct 30, 2011 12:15am
Quoting decades
Good to see you do analysis on stocks too. This is going to be fun. I have been trading a style very similar to yours. Am gaining aditional insights from this thread, thanks.

I took this trade a few months ago .
After the PB at 3.1015 as sellers confirmation, nothing could have stop the price to reach to 2.3632.The price is the price in every market on world.

Now the price wuold reach again 2.3632 where you will see a small consolidation, beeing only a preparation for a bigger RET (retracement), nevertheless the trend will remain in sellers hands.
Nothing personal,just business
  • #154
  • Oct 30, 2011 10:17am Oct 30, 2011 10:17am
Hello FXgroup! I have an important question to you. Look at my first chart. It is the eurusd daily. There is a monthly S/R line at 1.3965 (from the open of november 2010). Price stopped at this line 3 times and retraced (3 arrows). Then it went up for about 370 pips!!! So, there was no entry based on the monthly line, because price stayed UNDER the line. Now, have a look at the second chart: I have drawn the resistance line from a daily range market (dashed line). Based on this line, I would have entered at the high of the doji (3d arrow) and catched about 200 pips. What do you think about that?
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  • #155
  • Oct 30, 2011 2:51pm Oct 30, 2011 2:51pm
I will be VERY onest with you !
I think that IF I would regret every 200 pips that I didn't catch in a swing move, I should quit trading or I would trade under a pressure that it could ruin my health.
The psychological part in trading it is a very important part for a trader and knowing to accept and become confident with what is work for you, it does give you great result at long term, but especially release you by the pressure that makes fail 95% of the traders.
As I allready said and I will say it every time it needs, I trade ONLY when I understand WPD(what is price doing), for all the rest of market's situations I choose to stay away of trading and to watch the price(P). This way of seeing the market it keeps me away of many bad trades, but most of all it is the best work for my psychological part of my trading.
Sooner I accepted...sooner I reached !

P.S. I thak you for your post and for giving me the opportunity to present this part of trader's psychology !
Nothing personal,just business
  • #156
  • Oct 30, 2011 4:04pm Oct 30, 2011 4:04pm
Quoting fxgroup
I will be VERY onest with you !
I think that IF I would regret every 200 pips that I didn't catch in a swing move, I should quit trading or I would trade under a pressure that it could ruin my health.
The psychological part in trading it is a very important part for a trader and knowing to accept and become confident with what is work for you, it does give you great result at long term, but especially release you by the pressure that makes fail 95% of the traders.
As I allready said and I will say it every time it needs, I trade ONLY when I understand...
OK.
  • #157
  • Oct 31, 2011 10:23am Oct 31, 2011 10:23am
AUDJPY is in a clear, nice range market on M chart.
I know that are missing just a few hours to M candle to close, but generally this is what I see about this pair.
WPD= RM
WPG= the buyers helped by the strong buob( and 2MPB) are pushing the price up to the RM's R (resistance).
The M levels on chart.
Attached Image (click to enlarge)
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Nothing personal,just business
  • #158
  • Oct 31, 2011 11:16am Oct 31, 2011 11:16am
[quote=Milton;5084539]
Quote
So, there was no entry based on the monthly line, because price stayed UNDER the line.

I read another time your post and looking at the chart I realise how important are the O/C of the candles/swings but most of all why I use it so much !
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Nothing personal,just business
  • #159
  • Oct 31, 2011 1:03pm Oct 31, 2011 1:03pm
[quote=fxgroup;5087891]
Quoting Milton

I read another time your post and looking at the chart I realise how important are the O/C of the candles/swings but most of all why I use it so much !
we are waiting to the next step of your method how to identify entry point and translate our chart reading to trades
  • #160
  • Oct 31, 2011 6:32pm Oct 31, 2011 6:32pm
Quoting Milton
Hello FXgroup! I have an important question to you. Look at my first chart. It is the eurusd daily. There is a monthly S/R line at 1.3965 (from the open of november 2010). Price stopped at this line 3 times and retraced (3 arrows). Then it went up for about 370 pips!!! So, there was no entry based on the monthly line, because price stayed UNDER the line. Now, have a look at the second chart: I have drawn the resistance line from a daily range market (dashed line). Based on this line, I would have entered at the high of the doji (3d arrow) and catched...
Hi Milton,

I think you asked a very good question. In my view, the daily dashed line would have more importance.

See my candle highlighted and the level where it closed ? Price came 2 times up exactly to that level, was rejected ( strong respect ) - lastly price took off from that level in the long bullish candle.

If I find something similar in other pairs I can post.

Good trading to all.


_________
michael
Attached Image (click to enlarge)
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Be like water.
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