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Price is Everything Chat Room

  • #1,301
  • Feb 1, 2012 10:37am Feb 1, 2012 10:37am
Quoting Tyoon
Being PA traders we have to study the strengths and weaknesses of both buyers and sellers to judge the next course of action. S/D are the guidelines or 'limitations' of where buyers and sellers stand. For me looking at candles is not enough, I want to open them up and study the price structure. Although KISS is a good idea, I just can't help myself, I love digging.

You can see how the price structure of this BF indicated bull strength by looking at how the highs and lows reacted to S/D. If you can see it, this flag was developed...
A fellow digger. I like to establish a compelling reason for price to move before taking a position.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,302
  • Feb 1, 2012 10:39am Feb 1, 2012 10:39am
Quoting emene
OKay.....You caught me....That was my boot print.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,303
  • Feb 1, 2012 10:51am Feb 1, 2012 10:51am
Quoting Rufus
A fellow digger. I like to establish a compelling reason for price to move before taking a position.
Yeah I am going to stop posting post-analysis charts.
  • #1,304
  • Feb 1, 2012 5:19pm Feb 1, 2012 5:19pm
USDJPY approaching this massive bullish bar from october last yr on the daily chart.. wonder whats going to happen here??
josh
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nollej is power..
  • #1,305
  • Feb 2, 2012 9:46am Feb 2, 2012 9:46am
hi everyone,hope its ok to jump in here..

isnt that a quasimodo?
LONG is in the cards?..
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  • #1,306
  • Feb 2, 2012 10:14am Feb 2, 2012 10:14am
This is all about luck cause it is all random anyway.
Hello.
  • #1,307
  • Feb 2, 2012 10:32am Feb 2, 2012 10:32am
life is random...this is just the way it is...

anyway,regarding this quasi im not so sure how its gonna play out and if indeed after london close we can get a massive buying pressure (that suppose to take price above the HH) ...
im still long,my sl is very small so no dilemma for me but i do wanna see that price will randomly rise.
its only the second quasi set up i ever taken since being introduced to this pattern and i was hoping to get ur opinion if i had missed something about it.
  • #1,308
  • Feb 2, 2012 1:49pm Feb 2, 2012 1:49pm
Quoting elliotrader
hi everyone,hope its ok to jump in here..

isnt that a quasimodo?
LONG is in the cards?..
I've never really studied Inverted QMs at swing highs - only as a reversal pattern

Why not look for some more through history and let us know what you come up with?

Best

If
  • #1,309
  • Feb 3, 2012 6:35pm Feb 3, 2012 6:35pm
Watching Seiden again and while showing this chart he said the lower level is not a good enough demand. To me it looks a lot cleaner than the above demand level that he marked out.

Is it because the lower level is more of a pivot level than an actual demand level?

..
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  • #1,310
  • Feb 4, 2012 2:10am Feb 4, 2012 2:10am
Quoting Tyoon
Watching Seiden again and while showing this chart he said the lower level is not a good enough demand. To me it looks a lot cleaner than the above demand level that he marked out.

Is it because the lower level is more of a pivot level than an actual demand level?

..
i'm basically a newbie at this, but i think he doesnt like the lower area because of the lower wicks that make it wide, increasing the SL and risk. other than that i dont see anything. i suppose this is from a webinar, please post the name and time, i am also very interested in this.

i think its my first post in this wonderful thread. i am reading and watching from the sidelines so i want to take this chance to thank everyone for the fantastic work they have put here. especially Ifmyante for starting the thread and his wonderful M1 scalping charts. i want to be like him when i grow up (as a trader) .
  • #1,311
  • Feb 4, 2012 4:08am Feb 4, 2012 4:08am
Quoting asos101
i'm basically a newbie at this, but i think he doesnt like the lower area because of the lower wicks that make it wide, increasing the SL and risk. other than that i dont see anything. i suppose this is from a webinar, please post the name and time, i am also very interested in this.

[color=black][font=Verdana]i think its my first post in this wonderful thread. i am reading and watching from the sidelines so i want to take this chance to thank everyone for the fantastic work they have put here. especially...
Welcome mate. Yeah this webinar is here (http://www.fxstreet.com/webinars/sessions/session.aspx?id=8a0bd2bd-b595-4d31-8a6a-09edc19c8f9e).

I would have marked out (as demand) his non-demand because if you opened it up in a lower TF you would see a RBR (rally base rally). In the zone he marked as demand there are lots of upper wicks and price didn't exactly really from there it more lift drifted up. In fact you can see price spiked the zone before leaving.

This is how I would have marked it out:

(BTW there is no way I am saying he is wrong, after all he is the pro)

..
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  • #1,312
  • Feb 4, 2012 5:47am Feb 4, 2012 5:47am
Quoting Tyoon
Welcome mate. Yeah this webinar is here (http://www.fxstreet.com/webinars/sessions/session.aspx?id=8a0bd2bd-b595-4d31-8a6a-09edc19c8f9e).

I would have marked out (as demand) his non-demand because if you opened it up in a lower TF you would see a RBR (rally base rally). In the zone he marked as demand there are lots of upper wicks and price didn't exactly really from there it more lift drifted up. In fact you can see price spiked the zone before leaving.

This is how I would have marked it out:

(BTW there is no way I am saying he...
Hi Tyoon,
I agree with you on this one.For me it is like you said pivot=support which is made by this WRB(wide range body).So in real demand or source of the move up is your marked demand zone.So I am on the same page with you
  • #1,313
  • Feb 4, 2012 5:55am Feb 4, 2012 5:55am
Quoting kravmaga39
Hi Tyoon,
I agree with you on this one.For me it is like you said pivot=support which is made by this WRB(wide range body).So in real demand or source of the move up is your marked demand zone.So I am on the same page with you
Chart
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  • #1,314
  • Feb 4, 2012 6:31am Feb 4, 2012 6:31am
Quoting Tyoon
Welcome mate. Yeah this webinar is here (http://www.fxstreet.com/webinars/sessions/session.aspx?id=8a0bd2bd-b595-4d31-8a6a-09edc19c8f9e).

I would have marked out (as demand) his non-demand because if you opened it up in a lower TF you would see a RBR (rally base rally). In the zone he marked as demand there are lots of upper wicks and price didn't exactly really from there it more lift drifted up. In fact you can see price spiked the zone before leaving.

This is how I would have marked it out:

(BTW there is no way I am saying he...

Here is an example from yesterday on Cable that I think fits your discussion...hope it helps
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  • #1,315
  • Feb 4, 2012 6:36am Feb 4, 2012 6:36am
Quoting kravmaga39
Hi Tyoon,
I agree with you on this one.For me it is like you said pivot=support which is made by this WRB(wide range body).So in real demand or source of the move up is your marked demand zone.So I am on the same page with you
Well apparently there are two odd enhancers that would disqualify that demand. Until I figure them out I will keep looking at all the free stuff from him.

.... doesn't beat looking at Red's charts though. Red did it real time... before the fact.

Quoting Atc
Here is an example from yesterday on Cable that I think fits your discussion...hope it helps
Yeah that's a beauty.
  • #1,316
  • Feb 4, 2012 8:36am Feb 4, 2012 8:36am
Quoting Tyoon
Welcome mate. Yeah this webinar is here (http://www.fxstreet.com/webinars/sessions/session.aspx?id=8a0bd2bd-b595-4d31-8a6a-09edc19c8f9e).

I would have marked out (as demand) his non-demand because if you opened it up in a lower TF you would see a RBR (rally base rally). In the zone he marked as demand there are lots of upper wicks and price didn't exactly really from there it more lift drifted up. In fact you can see price spiked the zone before leaving.

This is how I would have marked it out:

(BTW there is no way I am saying...

Thanks for the link. In the 25th minute Sam says that 2 odds enhancers disqualify this level.

I can only speculate on what might these be and from the list of enhancers from Kenneth Lee’s no BS trading thread, the only two I see are pretty much one.
And this is the Risk Reward enhancer. So it’s one enhancer but there are 2 reasons.

First reason is the wick, and don’t get me wrong but I have never see Sam or Steve (Misic) leave a wick out when they mark a zone. So that wick makes your SL larger.
Now the second reason is that the price doesn’t go very far before creating that second level that he marked above. So the first possible area of resistance in a future bounce from the lower level is very close. (I don’t think we should confuse that with the “strength of the move enhancer” by the way, but maybe Sam had this in mind when he said 2 enhancers).

Of course without having the full bigger picture it’s a bit hard to judge why the top level is better than the lower. There may be an uptrend say and may he want to buy on a pullback to a RBR rather than at the extreme DBR (lower). As you said also it may be that the lower is a pivot, but without the picture on the left we cant say.

As for the 2nd area's upper wicks, Sam only marks the areas from the bodies to the wicks as price approaches and not the wicks on both sides.
I agree about the price leaving the zones, I don’t think any of these M5 levels are very good for a long ride, but most are good for scalps, depending a lot on how price “arrives” (the most important factor for me).
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  • #1,317
  • Feb 4, 2012 9:05am Feb 4, 2012 9:05am
Quoting asos101
So that wick makes your SL larger.

Now the second reason is that the price doesn’t go very far before creating that second level that he marked above.
I agree with that. That is the only thing I can think of is the RR and margin as you said. And, yes, again without the bigger picture it's hard to say. His non-demand could be a dip into another lower demand thus making it a pivot, not a real demand.

I suppose he includes the upper wicks so that price has a 'margin' to go into. Also the upper wicks suggest that the bulls could not breach that level?

BTW: The chart on left is 1M and 15M on right (same are your's).

..
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  • #1,318
  • Feb 4, 2012 9:26am Feb 4, 2012 9:26am
Quoting Tyoon
I agree with that. That is the only thing I can think of is the RR and margin as you said. And, yes, again without the bigger picture it's hard to say. His non-demand could be a dip into another lower demand thus making it a pivot, not a real demand.

I suppose he includes the upper wicks so that price has a 'margin' to go into. Also the upper wicks suggest that the bulls could not breach that level?

BTW: The chart on left is 1M and 15M on right (same are your's).

..
from what i remember he excludes the wicks from the side of the incoming price so that his area is tighter and that he "makes sure he buys/sells right into the meat of a move".

the wicks on the opposite side is a "buffer" and also help disqualify areas if the wicks themselves are huge. not sure why, thats how i watch him do and it works well so far.
  • #1,319
  • Feb 4, 2012 9:54am Feb 4, 2012 9:54am
Hi Tyoon,
I can highly recommend this thread http://www.forexfactory.com/showthread.php?t=311095 (http://www.forexfactory.com/showthread.php?t=311095)to learn a bit more about the rally-base-rally, rally-base-drop and vice versa methodology. In the end it's nothing else than supply and demand trading but it maybe gives an additional perspective on the topic.
  • #1,320
  • Edited 12:04pm Feb 4, 2012 11:51am | Edited 12:04pm
Quoting MCFly
Hi Tyoon,
I can highly recommend this thread http://www.forexfactory.com/showthread.php?t=311095 (http://www.forexfactory.com/showthread.php?t=311095)
Thanks for that MCFly. Reading through the PDF now

Based on what you guys know about PA and SD; what demand trade would you rather take regarding price arrival and the strength/weakness of the demand level? And why would you not choose the other two? It would be interesting to see different views and ideas.

..
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