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Beyond the Candles

  • #241
  • Nov 28, 2011 6:20am Nov 28, 2011 6:20am
[quote=desperate;5169809]
Quote
hi heres some of monthly charts,

blue line is monthly

white line is weekly

Some patterns.....
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  • #242
  • Nov 30, 2011 3:34pm Nov 30, 2011 3:34pm
The last M closed as an IPB in the PB range and overall the P is in RM.
The IPB is the second seller reaction at R level.
2011.11.22 IPB at R and sell order with the M IPB's low +TL as the first target.
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  • #243
  • Dec 1, 2011 2:04am Dec 1, 2011 2:04am
I have to admit this it could have been a good opportunity.
With M in down trend and W in bearish flag RET, but most of all with D that didn't close above the R+61.8Fibb in confluence with the dynamic R.
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  • #244
  • Dec 1, 2011 3:15pm Dec 1, 2011 3:15pm
Quoting fxgroup
The last M closed as an IPB in the PB range and overall the P is in RM.
The IPB is the second seller reaction at R level.
2011.11.22 IPB at R and sell order with the M IPB's low +TL as the first target.
If it closes bellow 1.5877, then 1.5768 becomes the next target !
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  • #245
  • Dec 2, 2011 2:04am Dec 2, 2011 2:04am
Hi,
I am quite new to this game. I like this trade a lot.
You normally trade longer TF. I am trying to learn using shorter frames so it's more movement in the chart ( as candles should work the same or almost the same in the shorter TF)

The problem I have is when I put all support/resistance lines starting from M and ending on H or even 15m then the chart is getting very busy.

How should I filter those S/R lines. In other words which lines are more important in short TF?

Thanks
Eru
  • #246
  • Dec 2, 2011 2:16am Dec 2, 2011 2:16am
Me again

I forgot to ask if anyone could recommend a book or any other source of material which explains relationship between RSI and candle

Nison insist that some candles in a specific situations are more or less important signals depending on what is RSI at the time of there aperience.
So I would like to go a little more into understanding the relationship of it

Eru
  • #247
  • Edited 3:02am Dec 5, 2011 2:51am | Edited 3:02am
Quoting Eru
Hi,
I am quite new to this game. I like this trade a lot.
You normally trade longer TF. I am trying to learn using shorter frames so it's more movement in the chart ( as candles should work the same or almost the same in the shorter TF)

The problem I have is when I put all support/resistance lines starting from M and ending on H or even 15m then the chart is getting very busy.

How should I filter those S/R lines. In other words which lines are more important in short TF?

Thanks
Eru
Hi Eru
Your first post in this thread...an honour for me.
I choose to trede higher TF, for more reasons, but all the small reasons put together make a big one: this is what it works for me !
Trading the smaller TF give a great dose of adrenaline, it is nice and exciting, but certainlly not profitable. Trading in smaller TF requires a very quick reaction to a even faster analyse capacity, and as you are "new to this game"...your account will surelly feel your lack of experience.
I don't want to convince you by anything, and you don't have to belive me, try and you will find it by yourself !
The M+W levels are VERY reliabile on a D chart and tell us all we need to take the right decisions.
On every market and any chart the higher the TF is, more important the levels are !

Regard RSI....just as a perssonal opinion....the market is made by buyers and sellers with their emotions ! As long as we are not focus on them, we will never learn them !
Thanks for your contribution....looking forward !
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  • #248
  • Dec 5, 2011 4:39am Dec 5, 2011 4:39am
USDSEK

If it closes bellow 6.7029....6.5741 becomes the next target and ovviously we are looking to the M bearish flag !
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  • #249
  • Dec 5, 2011 2:02pm Dec 5, 2011 2:02pm
Hey,

Thanx FX

The main reason to try shorter TF is the will to learn more in shorter time.
Correct me if I am wrong but ideally I would like to focus on one or two pairs and use the longer TFs to play with and follow their moves in shorter ones lets say H,15m to be able to correct any order if needed

The pair I focus now is Eur/Usd

Can you recommend any other low spread pair wchih is not much related to one above

Thx

Would it be ok if I post my own prediction of the move of Eur/Usd and so someone can show me wrong doing or missing important points when planing?
I am fine if no cos it's not a school but would be great to learn
  • #250
  • Dec 6, 2011 2:16am Dec 6, 2011 2:16am
[quote=Eru;5196183]


Quote
Correct me if I am wrong but ideally I would like to focus on one or two pairs and use the longer TFs to play with and follow their moves in shorter ones lets say H,15m to be able to correct any order if needed
Perssonaly, I have a tottaly different opinion. If a pair doesn't give me the perfect conditions to trade for a long period of time, I don't have to wait to much, the other pairs could be in perfect market's condition to trade...so why should I limit my trading skylines ?



Quote
Can you recommend any other low spread pair wchih is not much related to one above
Since I try to keep my trades as long as possible, I'm not interested especially in low spread pairs, but in high liquidity pairs.

Quote
Would it be ok if I post my own prediction of the move of Eur/Usd
You can post anything you want, but for any "prediction", please let us know the reasons why !
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  • #251
  • Dec 8, 2011 1:39am Dec 8, 2011 1:39am
AUDNZD
M-bullish channel
W-stuck in consolidation at 1.3185 R level

It will be interesting to see if the price could close above the R level...but if it will do it, the market levels becomes the next target, looking obviously at the M channel as final target.
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  • #252
  • Dec 8, 2011 7:25am Dec 8, 2011 7:25am
EURAUD

W will tell us who wants to take the RM dynamic's controll. All we have to do is waiting the W to give us more informaions.
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  • #253
  • Dec 9, 2011 4:02am Dec 9, 2011 4:02am
nice outside bar of support,did not take it
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  • #254
  • Dec 9, 2011 2:43pm Dec 9, 2011 2:43pm
Quoting desperate
nice outside bar of support,did not take it
I as said, my friend, it is always (safer) to wait the higher TF's confirmation. I hope that now you understood this concept of higher TF's confirmation.
On EURAUD situation we have a buyers reaction (BUOB) at RN, strong S and a strong sellers reaction (bearish PB-today) with the overall trend..that means that we have buyers and sellers= battle for the 1.30 S.
That's why is always safer to have the higher TF's confirmation and not to act at first level (S/R) level !
I'm very sure that a lot of traders buyed on yesterday BUOB, but let's take a look of what the D chart is telling us !

The D RM goes on !
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  • #255
  • Dec 12, 2011 4:54pm Dec 12, 2011 4:54pm
AUDNZD

It is time to take a decision !
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  • #256
  • Dec 14, 2011 1:26pm Dec 14, 2011 1:26pm
Quoting fxgroup
We turn back to talk about some very important trading steps:
Psychology
-plan the trade-one of the most important in trading process is the trade plan, understanding what the price is doing, who is in the market control, waiting for the price to reach our levels and the emotion control.
We accept and we are taking all the responsibility for our actions as trades, entries, exits, etc.

[font=Calibri][size=4]Trading...
I hope somebody pay atention at this post. I know that it past some time since it was posted, but the price acts right as we anticipated !

USDCHF to the parity level + dynamic RM.
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  • #257
  • Dec 17, 2011 7:55am Dec 17, 2011 7:55am
EURCAD

The first buyers allready start showing,at importantant static level and at the dynamic RM's S.
A buyers confirmation with a close above 1.3650, it is all we need to push the price to RM's R.
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  • #258
  • Dec 21, 2011 3:02am Dec 21, 2011 3:02am
Dow_Jones

Looking to M chart we understand why the P find R at 12219 level.
If it closes above it....12817 becomes the first target.
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  • #259
  • Dec 24, 2011 12:32am Dec 24, 2011 12:32am
I wish all of you a Marry Christmas and a Happy New Year !
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  • #260
  • Dec 24, 2011 4:17am Dec 24, 2011 4:17am
Merry Christmas to all, and a happy, healthy and a prosperous 2012 year!
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