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Price is Everything Chat Room

  • #1,261
  • Edited 5:16am Jan 25, 2012 4:56am | Edited 5:16am
Quoting MCFly
The EU 4 hr tf supported a short and there was a S&D zone above the range on the 5 min chart. The S&D zone was tested by the pin before price began to drop.
Yh it looked like the 4th touch on 4h supply.

What levels are you looking at? I see price is reaching for pivot support.

ADD: I just found this post by Venice that I think is very valuable. Worth a read.

Quoting Venice
Trader. There are many demand and supply zones all over the chart. You need to pick out the significant ones. Price is never guaranteed to hold at a demand zone. But you will almost always get a bounce. Sometimes those bounces turn into reversals, other times they don't.

This is why trading is crucial to constantly react to price action and let it lead the way. It tells you what it wants to do (most of the time). You simply just follow.

For my trading style, I actually have a less risky setup. I wait for price to bounce at supply demand level, and then break the current resistance level..........
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  • #1,262
  • Jan 25, 2012 5:19am Jan 25, 2012 5:19am
My levels but I think everybody draws the zones a bit different. I'm looking for zones from 5m-daily.
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  • #1,263
  • Edited 5:58am Jan 26, 2012 4:17am | Edited 5:58am
Lovely. A similar situation across the board.

Add: is this where red has gone? Trading other instruments now.

Quoting redsword11
l am in the process of slowly leaving fx to safer markets where common sense prevails and l am going take the core traders here with me ....... will see there soon
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  • #1,264
  • Jan 26, 2012 10:38am Jan 26, 2012 10:38am
What in your opinion could Red be gone into trading. Have to agree with him forex is driven by madmen these days.
  • #1,265
  • Jan 27, 2012 8:26am Jan 27, 2012 8:26am
I'm not sure if anyone had already pointed this out on PIE but a few fellow traders from another thread pointed it out a few weeks back and look how well it played out.

http://www.forexfactory.com/attachme...7&d=1327673916
  • #1,266
  • Jan 27, 2012 9:18am Jan 27, 2012 9:18am
Quoting Tyoon
I'm not sure if anyone had already pointed this out on PIE but a few fellow traders from another thread pointed it out a few weeks back and look how well it played out.

Quoting MitchWorse
almost there on weekly
  • #1,267
  • Jan 27, 2012 10:56am Jan 27, 2012 10:56am
Quoting MitchWorse
Ah yeah, of course. You're always on the ball.

I just remembered I called it as well a few weeks back. Memory slow today.

http://www.forexfactory.com/attachme...0&d=1326056042
  • #1,268
  • Jan 28, 2012 5:54am Jan 28, 2012 5:54am
Hi,
only want to show what trendlines/diagonal trendlines combined with s&d zones can do for you. The diagonal trendline is a H&S neckline too.
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  • #1,269
  • Edited 5:48am Jan 30, 2012 5:30am | Edited 5:48am
I was thinking of posting this on RTP but I thought I throw it up here instead.

I have found that when price makes an up/down trend it makes S/Ds and S/R on the way up/down and these levels/zones don't get revisited due to the strong driving S/D pulling the price up/down in the trend. Where will price revisit these levels/zones? When price retraces or reverses. Price will most likely (pretty much always) bounce off these levels created from the previous trend.

In these cases price bounces off of previous unvisited levels/zones from the previous trend then passes through them and then revisits them from the other side making it a pivot level/zone.

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  • #1,270
  • Jan 30, 2012 5:42am Jan 30, 2012 5:42am
Quoting Tyoon
I was thinking of posting this on RTP but I thought I throw it up here instead.

I have found that when price makes an up/down trend it makes S/Ds and S/R on the way up/down and these levels/zones don't get revisited due to the strong driving S/D pulling the price up/down in the trend. Where will price revisit these levels/zones? When price retraces or reverses. Price will most likely (pretty much always) bounce off these levels created from the previous trend.

In these cases price bounces off of previous unvisited levels/zones from the previous...
Exactly right - that's how we can happily scalp counter trend
  • #1,271
  • Jan 30, 2012 10:32am Jan 30, 2012 10:32am
I have drawn up the quasi. Essentially it is an engulfing pattern. It is one of the simplest structures of a reversal.

For example, a down trend is a set of LLs and LHs. The first sign of a quasi is the first HH that takes out the previous LH. The second signal is a HL that takes place after the LL before the HH.

A quasi can look a lot like a H/S but there is one huge distinction - the engulf. The LL and HH that engulfs the previous LL and LH. The HH is the key. Then usually there is a retracement to make the first HL then there you go, trend change (not in every case - like everything in trading).

I have also included what some candle structures may look like.

Hope this helps anyone who is unclear on what a quasi is.

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  • #1,272
  • Jan 30, 2012 1:41pm Jan 30, 2012 1:41pm
[quote=Tyoon;5338923]I have drawn up...[quote]

You really put some effort in this
  • #1,273
  • Jan 30, 2012 1:50pm Jan 30, 2012 1:50pm
Yep, it deserves to be acknowledged.

Kudos Tyoon. And thanks.

[quote=MitchWorse;5339371][quote=Tyoon;5338923]I have drawn up...
Quote

You really put some effort in this
Hello.
  • #1,274
  • Jan 30, 2012 5:42pm Jan 30, 2012 5:42pm
euro
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  • #1,275
  • Jan 31, 2012 5:01am Jan 31, 2012 5:01am
Quoting emene
Yep, it deserves to be acknowledged.

Kudos Tyoon. And thanks.

Quoting MitchWorse
You really put some effort in this
Cheers Mitch and Mike

Stumbled across one of If's charts and Quasi screamed at me. That one looked like it had some good momentum in it.

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  • #1,276
  • Edited 5:52am Jan 31, 2012 5:23am | Edited 5:52am
Quoting Tyoon
Cheers Mitch and Mike

Stumbled across one of If's charts and Quasi screamed at me. That one looked like it had some good momentum in it.

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I see what you mean, but in this scenario you didn't need to look for a QM for a long trigger
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  • #1,277
  • Jan 31, 2012 5:52am Jan 31, 2012 5:52am
Quoting Ifmyante
I see what you mean, but in this scenario you didn't need to look for a QM for a long trigger
Structural confluence. Did you get many pips out of that one?

Addicted to drawing them out to get it in the brain.

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  • #1,278
  • Jan 31, 2012 5:55am Jan 31, 2012 5:55am
Quoting Tyoon
Structural confluence. Did you get many pips out of that one?

Addicted to drawing them out to get it in the brain.

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I really have no idea

Your method of imprinting patterns on yourself is, I'm sure, excellent.

All should try it, and also look for as many historical instances of it, and all other PA, as they can.
  • #1,279
  • Jan 31, 2012 6:00am Jan 31, 2012 6:00am
Quoting Tyoon
... Addicted to drawing them out to get it in the brain.

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And I really like how you draw 'm!

Clean and easy for mental storage.
  • #1,280
  • Jan 31, 2012 6:22am Jan 31, 2012 6:22am
Quoting MitchWorse
And I really like how you draw 'm!

Clean and easy for mental storage.
Thanks Mitch. This thread has been crowded with my posts recently, I hope they are coming of some use to readers.

I have also come across something else that occurs in regards to engulfing and previously ignored levels/zones.

Hopefully when I get my practise back up I can start to exemplify these trades live as I trade 'em.

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