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Beyond the Candles

  • #281
  • Jan 2, 2012 1:39am Jan 2, 2012 1:39am
Quoting fxgroup
Every time I see a chart, I'm looking for simplicity...and now the P is at the confluence of the M long term TL with the R of old RM what now acts as S .
A close bellow the M TL will give a very useful informations and a close bellow 1567 will made us to look for 1484.67 as our first target.
Looks we think same way .... thanks for deatiled explanation .
I must admit that technical is a way better that any fundamental as You wrote a yr ago.

Rgds.
  • #282
  • Jan 2, 2012 1:39am Jan 2, 2012 1:39am
[quote=william99;5258531]
Quote
I am from China....

Thanks william and welcome to this thread.
Your contribution will be useful for you and for other people, so more questions,charts,analises means more experience and informations.

Looking forward !
Nothing personal,just business
  • #283
  • Jan 2, 2012 3:08am Jan 2, 2012 3:08am
Quoting fxgroup
Every time I see a chart, I'm looking for simplicity...and now the P is at the confluence of the M long term TL with the R of old RM what now acts as S .
A close bellow the M TL will give a very useful informations and a close bellow 1567 will made us to look for 1484.67 as our first target.
The lower highs may suggest we go lower, we'll need to see what the reaction is to this S/lower TL level.

I have been looking to focus much more on D charts, hope I'll be able to contribute something.

Cheers.
  • #284
  • Jan 2, 2012 3:02pm Jan 2, 2012 3:02pm
[quote=Vantage;5260865]
Quote
The lower highs may suggest we go lower
Yes...but...we have only LH with no LL...and this is one of those market's situations when I call it congestion and I suddenly become more carefull.
On the other side, it is for the first time when the sellers really does take positions and are no longer satisfied only with the RET !

Quote
I have been looking to focus much more on D charts, hope I'll be able to contribute something.

Cheers.
I'm sure that your contribution will be a very useful one !
Nothing personal,just business
  • #285
  • Jan 3, 2012 3:21am Jan 3, 2012 3:21am
Let's see some long term charts !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-01-03_09-30_USDCHF.png Size: 54 KB
Click to Enlarge Name: 2012-01-03_09-21_EURCHFy.png Size: 50 KB
Click to Enlarge Name: 2012-01-03_09-24_EURCHF6m.png Size: 50 KB
Nothing personal,just business
  • #286
  • Jan 3, 2012 8:09am Jan 3, 2012 8:09am
Quoting fxgroup
Let's see some long term charts !
1.USDCHF buyers want to push price to static RM in downtrend,but long position to reach RM.
2.EURCHF strong buyers force at RN (1) push quickly price higher strong resistance at this lvl as tested, vy interesting inf.
  • #287
  • Jan 4, 2012 1:32pm Jan 4, 2012 1:32pm
EURGBP

This pair is in very strong bearish trend.
0.8340-strong M level.
2011.12.21-doji-the sellers reached the level and the first buyers reaction
2011.12.22-doji/ IB-sellers exhaustion and fight for the level.
2011.12.23-bullish candle-the buyers turn the P above the level
2011.12.26.IB-buyers exhaustion at first R (what is S for the the previous D RM also)
2011.12.27.-beob-the sellers take the R control, buy can't close bellow the level
2011.12.28-bullish candle-the buyers take the level's control and push the P to the old RM's S
2011.12.29-bullish candle-the buyers push the P upto the old D RM's R
2011.12.30-bearish candle-the sellers are strong and close bellow the level and bellow the bearish flag made till this day(the bearis flag is also an additional information od the bearish trend's continuation)
2012.01.02-PB-the buyers try to defend the level, but the sellers are still in control and give us the first confirmation.
2012.01.03-PB-the buyers defend the bearish flag but the sellers give the confirmation of the level and the bearish flag pattern.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbpm.png Size: 36 KB
Click to Enlarge Name: egd.gif Size: 35 KB
Nothing personal,just business
  • #288
  • Jan 4, 2012 4:33pm Jan 4, 2012 4:33pm
Quoting fxgroup
EURGBP

This pair is in very strong bearish trend.
0.8340-strong M level.
2012.01.03-PB-the buyers defend the bearish flag but the sellers give the confirmation of the level and the bearish flag pattern.
What do You think abt this possibl scenario I attached ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp,weekly.gif Size: 16 KB
  • #289
  • Jan 5, 2012 1:06am Jan 5, 2012 1:06am
Sellers showing that they still have power...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 26 KB
  • #290
  • Jan 5, 2012 4:08am Jan 5, 2012 4:08am
Hey, can any one explain a simple thing I struggle with:

The resistnts or support is broken when candel closes above/below it

Well let's say I have support on weekly TF and trade 15m TF
My candle has closed well beyond the line in my 15TF even H TF

Shall I consider this S as a broken or shall I wait for W bar close to confirm


Thanks
  • #291
  • Jan 5, 2012 4:12am Jan 5, 2012 4:12am
Quoting Dariusz
What do You think abt this possibl scenario I attached ?
EurGbp is in strong bearish trend with all the TF bearish. At this right moment every bullish thought is a VERY risky CT...and remember that is always safer with higher TF's confirmation.......but allow me to show you the safiest way to trade with the trend !

After the P was stuck in triangle, the sellers close bellow the pattern.The buyers are trying to defend the triangle, but the sellers are strong and give us a PB as higher TF confirmation. From this moment, all we have to do is to wait a D seller's confirmation.
D-beob that closes bellow the level and bellow the D bearish flag after the W PB-as sellers D confirmation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: egbp1.gif Size: 44 KB
Click to Enlarge Name: egbp2.gif Size: 40 KB
Nothing personal,just business
  • #292
  • Jan 5, 2012 5:37am Jan 5, 2012 5:37am
Quoting Eru
Hey, can any one explain a simple thing I struggle with:


Well let's say I have support on weekly TF and trade 15m TF
My candle has closed well beyond the line in my 15TF even H TF

Shall I consider this S as a broken or shall I wait for W bar close to confirm

Any higher TF D,W,M gives you stronger signal, but any lower is more influencial for daily rumors. But let more expirienced add something else.



Rgds
  • #293
  • Jan 5, 2012 11:03am Jan 5, 2012 11:03am
Quoting Eru
Hey, can any one explain a simple thing I struggle with:

The resistnts or support is broken when candel closes above/below it

Well let's say I have support on weekly TF and trade 15m TF
My candle has closed well beyond the line in my 15TF even H TF

Shall I consider this S as a broken or shall I wait for W bar close to confirm


Thanks
Hi Eru

The P could broke a certain S, but this doesn't mean that the level will act as R untill you don't see the PA confirmation.
A lower TF close bellow the S and PA will define you target at the same TF, meanwhile a close bellow S at the same TF with a lower PA confirmation, helps you to identify the targets to the higher TF and is always safer....let's see a chart

P.S. Any question you have, feel free to ask.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: e1.png Size: 31 KB
Click to Enlarge Name: e2.png Size: 37 KB
Nothing personal,just business
  • #294
  • Jan 6, 2012 3:11am Jan 6, 2012 3:11am
Hi fxgroup,

I just found this thread yesterday. It is exactly what I am looking for. I feel really lucky.

I have a question on how to find the confirmation bar. In the GBPUSD chart, which one you think is the confirm bar? I could not find any. Maybe the one with arrow? Are you going to wait or trade with the situation like this? Thank you in advance!
Attached Image (click to enlarge)
Click to Enlarge Name: Capture2.GIF Size: 40 KB
  • #295
  • Jan 6, 2012 3:50pm Jan 6, 2012 3:50pm
P.S. Any question you have, feel free to ask.[/quote]

Could you tell me if I putted in this case S/R lvl's correctly ?

Tnx.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd,weekly tl.gif Size: 15 KB
  • #296
  • Jan 6, 2012 4:31pm Jan 6, 2012 4:31pm
[quote=oliverzhao;5272800]
Quote
I just found this thread yesterday. It is exactly what I am looking for. I feel really lucky.
Hi oliver,
very pleased for your 1° post in this thread and thanks for your kind words !

Quote
I have a question on how to find the confirmation bar. In the GBPUSD chart, which one you think is the confirm bar? I could not find any. Maybe the one with arrow? Are you going to wait or trade with the situation like this? Thank you in advance!
The concept of confirmation bar starts for the fact that we are trading the retreacements(RET), so we wait first to have the higher TF confirmation and after we wait the RET on D chart !

Your chart is showing a D RM because of 3 M levels that are very close one by others, and could be traded as any RM on the same TF...from the R to S and vice versa..ovviously, in the main trend direction is highly recomended.
The trading in RM requires an all different menthality and different MM rules.

Waiting to higher TF confirmation and then D RET, in your situation, we would have seen only W candles with no direction as sign of tight D RM.

Looking forward to your posts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gum.png Size: 40 KB
Click to Enlarge Name: guw.png Size: 56 KB
Click to Enlarge Name: gud.png Size: 53 KB
Nothing personal,just business
  • #297
  • Jan 7, 2012 8:02am Jan 7, 2012 8:02am
[quote=Dariusz;5274748]
Quote

Could you tell me if I putted in this case S/R lvl's correctly ?

The TLs are one of the most powerful R/S dynamic levels in trading.
The TLs are made by drawing a level that reaches at least two highs/lows.
Perssonaly, I use them only when the TLs are components of differents patterns (triangles, flags, channels,pennants, etc), or when a TL gives a certain importance (does really means something) to the P.

P.S. In a couple of weeks, we will start to study more about the dynamic RMs and we will talk more about the TLs too.
Attached Image (click to enlarge)
Click to Enlarge Name: dl.png Size: 59 KB
Nothing personal,just business
  • #298
  • Jan 7, 2012 3:54pm Jan 7, 2012 3:54pm
[quote=fxgroup;5275342]
Quoting Dariusz

The TLs are one of the most powerful R/S dynamic levels in trading.
The TLs are made by drawing a level that reaches at least two highs/lows.
Perssonaly, I use them only when the TLs are components of differents patterns (triangles, flags, channels,pennants, etc), or when a TL gives a certain importance (does really means something) to the P.

P.S. In a couple of weeks, we will start to study more about the dynamic RMs and we will talk more about the TLs too.
Thank U for kind answer !
I practicing RM and TL drawing a lot recently, hope U don't mind if send from time to time .
  • #299
  • Jan 9, 2012 2:30am Jan 9, 2012 2:30am
[quote=fxgroup;5274785]
Quoting oliverzhao
Hi oliver,
very pleased for your 1° post in this thread and thanks for your kind words !


The concept of confirmation bar starts for the fact that we are trading the retreacements(RET), so we wait first to have the higher TF confirmation and after we wait the RET on D chart !

Your chart is showing a D RM because of 3 M levels that are very close one by others, and could be traded as any RM on the same TF...from the R to S and vice versa..ovviously, in the main trend direction is highly recomended.
The trading in RM...
Thank you fxgroup!

I feel your method is the type I am after: "simple is the best" as long as you understand the market. unfortunately, it seems I am in front of the door and not sure if I could pass it or not.

I am digesting your method now. The key question is the entry point. I am going to come back with a lot of questions. Be prepared!
  • #300
  • Jan 9, 2012 11:29pm Jan 9, 2012 11:29pm
Hi everyone ,

This is my first post in this thread.
After reading through the thread, learned new stuff.( Thanks Fxgroup)

I have my chart on Gbp/Sgp
Pls free to comment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpsgp monthly.gif Size: 57 KB
Click to Enlarge Name: gbpsgp weekly.gif Size: 62 KB
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