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  • #61
  • Feb 1, 2012 1:19am Feb 1, 2012 1:19am
Quoting VitaminBeer
Thanks Ezzy!

Post away, would be interested to see your stuff too

I'm off the grog for a month too!! New diet thing....boo hoo

VB,

Hello VitaminBeer!!!

Let me try to go with numbers to see if i get the core of your method.

1) - this is more than just rigid "system". This is trading method based on true price action, method based on moves of the market, method based on reality.

2) - the core of your trading approach is Support and Resistance levels, as they are something at what we can look at in this chaoic enviroment. These areas are natural things which one could find at all the markets available. These areas give us advantage to put things in some sort of "order".

3) - to get trades and to be more able to go in trades in time we use some sort of "trick" - more lower time frame. I mean - for example - at 1 hr time fram there are some big candles. It is hard enough to get in trade in right place with them, But we magnify our chart to more lower TF, and now we see that some big candles from 1 hr chart like for ex. 10 of 15min TF candles. So - this way we could define our entry place more better, as we know - every higher candle is made of more smaller candles. etc. etc.

Hope - my understanding is right. Thanks for so clearly shared great method!!!


P.S. - sorry for my english . I am from Ukraine.
  • #62
  • Feb 1, 2012 2:25am Feb 1, 2012 2:25am
Quoting dim4ik42
Hello VitaminBeer!!!

Let me try to go with numbers to see if i get the core of your method.

1) - this is more than just rigid "system". This is trading method based on true price action, method based on moves of the market, method based on reality.

2) - the core of your trading approach is Support and Resistance levels, as they are something at what we can look at in this chaoic enviroment. These areas are natural things which one could find at all the markets available. These areas give us advantage to put things in some sort of "order".

3) - to get trades and to be more able to go in trades in time we use some sort of "trick" - more lower time frame. I mean - for example - at 1 hr time fram there are some big candles. It is hard enough to get in trade in right place with them, But we magnify our chart to more lower TF, and now we see that some big candles from 1 hr chart like for ex. 10 of 15min TF candles. So - this way we could define our entry place more better, as we know - every higher candle is made of more smaller candles. etc. etc.

Hope - my understanding is right. Thanks for so clearly shared great method!!!


P.S. - sorry for my english . I am from Ukraine.
Spot on!!!

Well done, congrats to you sir - Your english is fine.

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

Everyone read this post and read it again and again.

VB,
  • #63
  • Feb 1, 2012 2:32am Feb 1, 2012 2:32am
I would like to post possible setup based on idea of this method.

The 5 min. chart is where i look for Sup_Res areas, and 1 min chart is my seeing of possible wave changing.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1mintf.gif Size: 7 KB
  • #64
  • Feb 1, 2012 2:34am Feb 1, 2012 2:34am
Quoting dim4ik42
I would like to post possible setup based on idea of this method.

The 5 min. chart is where i look for Sup_Res areas, and 1 min chart is my seeing of possible wave changing.
Looks good to me

You got the right idea

VB,
  • #65
  • Feb 1, 2012 2:35am Feb 1, 2012 2:35am
Quoting VitaminBeer
Looks good to me

You got the right idea

VB,
Thank you!
  • #66
  • Feb 1, 2012 2:37am Feb 1, 2012 2:37am
Quoting dim4ik42
I would like to post possible setup based on idea of this method.

The 5 min. chart is where i look for Sup_Res areas, and 1 min chart is my seeing of possible wave changing.
By the way - the trade was not happen because the market never hit the price below green line.
  • #67
  • Feb 1, 2012 2:43am Feb 1, 2012 2:43am
Quoting dim4ik42
By the way - the trade was not happen because the market never hit the price below green line.
It's quiet possible it's not ready yet, I have quiet a bearish outlook on the Euro but anything can happen at this stage with the IMF and all the garbage going on with Greece.

Either way, it's better to be out than in if it's not going in your anticipated direction.

That's why I like to use stop orders, can never be 100% certain.
  • #68
  • Feb 1, 2012 3:06am Feb 1, 2012 3:06am
Euro bit me once again boo hoo =(
  • #69
  • Feb 1, 2012 11:59am Feb 1, 2012 11:59am
Quoting VitaminBeer
Euro bit me once again boo hoo =(
Boohoo hoo yh I got hit on ucad also,oh well ya carn't win em all all the time ,but some of em most of the time!
  • #70
  • Feb 2, 2012 3:44am Feb 2, 2012 3:44am
hello traders!

This is what I am currently looking for. Sell of that level would be good trade I think... Well - will see what happen.
Attached Image (click to enlarge)
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  • #71
  • Feb 2, 2012 4:06am Feb 2, 2012 4:06am
For right now I've left the Eur/Usd alone, the Euro is on a path of it's own right now.

Although I'm not discouraging you from trying for it, but until I find out what it really wants to do after all the news breaks then I'll continue on with that.

There is a lot of other trending pairs right now and there's oodles of pips to be had.

I have not had much of a chance to post any charts today, when I get some spare time I'll continue on with what I know.

VB,
  • #72
  • Feb 2, 2012 4:07am Feb 2, 2012 4:07am
Heads up!

Price is coming to the level!!!!

Now... go with the flow of price action. if it would reverse its way - we are in
Attached Image (click to enlarge)
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  • #73
  • Feb 2, 2012 4:11am Feb 2, 2012 4:11am
Quoting VitaminBeer
For right now I've left the Eur/Usd alone, the Euro is on a path of it's own right now.

Although I'm not discouraging you from trying for it, but until I find out what it really wants to do after all the news breaks then I'll continue on with that.

There is a lot of other trending pairs right now and there's oodles of pips to be had.

I have not had much of a chance to post any charts today, when I get some spare time I'll continue on with what I know.

VB,
Agree with you!
  • #74
  • Feb 2, 2012 4:20am Feb 2, 2012 4:20am
ok... I took that trade... Price action was nice as for me....

i did trail Stop-loss a little, so in worse case - I would not risk my whole stake. As the trade would mature - I would trail my stop close to BE.




Edit: - my target hit at 3124
Attached Image (click to enlarge)
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  • #75
  • Feb 2, 2012 4:25am Feb 2, 2012 4:25am
Quoting dim4ik42
ok... I took that trade... Price action was nice as for me....

i did trail Stop-loss a little, so in worse case - I would not risk my whole stake. As the trade would mature - I would trail my stop close to BE.
Well done dim4ik!

Superb PA trading
  • #76
  • Edited 5:17am Feb 2, 2012 4:54am | Edited 5:17am
Quoting dim4ik42
ok... I took that trade... Price action was nice as for me....

i did trail Stop-loss a little, so in worse case - I would not risk my whole stake. As the trade would mature - I would trail my stop close to BE.




Edit: - my target hit at 3124
Nice trade. You were fading weakness from a pull back, at the Support level (despite that large candle into the level which was clearly meant to force weak traders into a long before reversing).

However, I do not see any evidence that you used the 1 min chart to analyse the wave patterns (+ minor support resistance) to then fade that weakness against the higher time SR level, which is what this thread is all about. Looks like you just traded at 5min supply zone (different method - see 'Price is everything thread').

Personally, even if you had traded the 1min, it is a little too erratic to analyse lower time frame trend and strength/weakness. Maybe fine for futures but even then I would be using tick charts to make things clearer. (google Lance Beggs - his work is very detailed on the subject of this style).

I wouldn't go lower than 30 min to define the higher time frame SR levels in Forex, and then trade off the 5 min price action identifying trends congestions, strength and weakness using the higher time frame SR as the main reference (but thats me.).
  • #77
  • Feb 2, 2012 4:57am Feb 2, 2012 4:57am
there was very interesting PA after I did close my position... I am not sure what was the trigger for it, but look - it was going up off 3121 level (to the pip)...
  • #78
  • Feb 2, 2012 5:05am Feb 2, 2012 5:05am
Quoting Porkpie
Nice trade. You were fading weakness from a pull back, at the Support level (despite that large candle into the level which was clearly meant to force weak traders into a long before reversing).

However, I do not see any evidence that you used the 1 min chart to analyse the wave patterns (+ minor support resistance) to then fade that weakness against the higher time SR level, which is what this thread is all about. Looks like you just traded at 5min supply zone (different method - see 'Price is everything thread').

Personally, even if you had...
Well - ok...

I could say only - I am sorry if I did something wrong considering thread rules. But I thought that it is not "must be" to post lower TF charts. In fact - we could just tell something like this:"well, I see 3160 level, which were support and then it became resistance, Hey! If the PA would reverse there down, I mean - it would lose strenght and start to become more weak - then I would be short"... - so, I did not say something in this manner, but even post my real account chart to show others - I really took that trade. No more no less...

But again - sorry. I could next time post two charts. My levels, and then - lower TF.

Thank you for your comment!

Good luck!
  • #79
  • Edited 9:17am Feb 2, 2012 5:16am | Edited 9:17am
Quoting dim4ik42
Well - ok...

I could say only - I am sorry if I did something wrong considering thread rules. But I thought that it is not "must be" to post lower TF charts. In fact - we could just tell something like this:"well, I see 3160 level, which were support and then it became resistance, Hey! If the PA would reverse there down, I mean - it would lose strenght and start to become more weak - then I would be short"... - so, I did not say something in this manner, but even post my real account chart to show others - I really took that trade. No more...
But it was a good trade and there was a doji on the 1 min. The thing is with this sort of trading one cannot be too rigid with the rules, but instead go with the flow which is what reading price action is all about. But the rules help to begin with.

I use 3 time frames be it trading SR levels or supply/demand levels. Higher time frame determines larger trend and SR levels, medium time frame determines trend swings between HTF levels, smaller time frame is a micro view of what medium time frame pa is doing for earlier entry.
  • #80
  • Feb 2, 2012 10:04am Feb 2, 2012 10:04am
Quoting Porkpie
But it was a good trade and there was a doji on the 1 min. The thing is with this sort of trading one cannot be too rigid with the rules, but instead go with the flow which is what reading price action is all about. But the rules help to begin with.

I use 3 time frames be it trading SR levels or supply/demand levels. Higher time frame determines larger trend and SR levels, medium time frame determines trend swings between HTF levels, smaller time frame is a micro view of what medium time frame pa is doing for earlier entry.
hello Porkpie

can you explain more detail??? very interested know

thanks
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