Price is everything | Page 1338 | Forex Factory

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Price is everything

  • #26,741
  • Feb 6, 2012 5:32am Feb 6, 2012 5:32am
Trade:
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  • #26,742
  • Feb 6, 2012 8:56am Feb 6, 2012 8:56am
Quoting vasmiza
long

EDIT: added 2nd position on retrace
stopped on both positions.

Second attempt I caught it. Lets ride this thing to the gap.
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  • #26,743
  • Feb 6, 2012 9:14am Feb 6, 2012 9:14am
uchf short
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Simplicity Is The Ultimate Sophistication ~LDV~
  • #26,744
  • Feb 6, 2012 9:41am Feb 6, 2012 9:41am
Quoting vasmiza
stopped on both positions.

Second attempt I caught it. Lets ride this thing to the gap.
closed some, will add on retrace
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  • #26,745
  • Feb 6, 2012 9:53am Feb 6, 2012 9:53am
[quote=vasmiza;5359273]closed some, will add on retrace[/qu

2nd position
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  • #26,746
  • Feb 6, 2012 10:11am Feb 6, 2012 10:11am
Quoting alterchristo
uchf short
keep shorting...
missed EU and cable long...
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Simplicity Is The Ultimate Sophistication ~LDV~
  • #26,747
  • Feb 6, 2012 10:17am Feb 6, 2012 10:17am
[quote=vasmiza;5359307]
Quoting vasmiza
closed some, will add on retrace[/qu

2nd position
thats it from me folks see ya all tomorrow
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  • #26,748
  • Feb 6, 2012 10:25am Feb 6, 2012 10:25am
[quote=vasmiza;5359429]
Quoting vasmiza

thats it from me folks see ya all tomorrow

missed it...

nice trade vas
Simplicity Is The Ultimate Sophistication ~LDV~
  • #26,749
  • Feb 6, 2012 10:38am Feb 6, 2012 10:38am
Took a short on EJ 5mins with a BEOB as trigger
risk 10 pips
TG1 10 pips and will move to BE

Edit: Closed the trade at BE due to the two wicks that appeared on the 5mins
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Trade Smart
  • #26,750
  • Feb 7, 2012 1:36am Feb 7, 2012 1:36am
long eur/usd
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  • #26,751
  • Feb 7, 2012 6:59am Feb 7, 2012 6:59am
demand
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  • #26,752
  • Feb 7, 2012 7:56am Feb 7, 2012 7:56am
some scalps
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Simplicity Is The Ultimate Sophistication ~LDV~
  • #26,753
  • Edited 8:28am Feb 7, 2012 8:00am | Edited 8:28am
OK... I am back albeit briefly because I think this is a really important subject that is generally overlooked by a lot of traders and that is TIME. Remember our charts have 2 axis, price AND time. Everyone talks about price but no one really talks about time.

How long does price stays at a level and how long it takes to move away from a level is crucial to trading S&D successfully. Don't forget that with each timeframe there is a huge difference in the time factor, first and foremost because you are looking at different timeframes... no shit sherlock! so you have to take that into consideration with regards to how long price stays at a level.

Here is another important lesson from Sam Seiden -

The Time Factor
http://www.tradingacademy.com/lesson...ed_article.htm

I highly recommend that you read his articles on a weekly basis to enforce your learning. Finally Dr Woody Johnson is also worth a read with regards to the mental and psychology side of trading.

I had to post this as it is a subject that is overlooked and I needed to bring it to people's attention.

Take it easy folks and I wish you much success with your trading. This TIME I won't be back for a long while!
  • #26,754
  • Feb 7, 2012 8:39am Feb 7, 2012 8:39am
On a final final final note, people say that supply and demand is the same as support and resistance. It is not! They are two very different things. Supply and demand are areas where orders are stacked. Support and resistance are significant price points where the market has rejected price before. Two very different things so make sure you differentiate between the two!

Finally, be wary of wicks and pin bars because you must always question yourself as to whether this is consumption or rejection. Has the market rejected this price level or has it consumed demand or supply to weaken the zone so that on the next attempt it will cut through it like a knife through butter.

There is no end goal in trading as it is a never ending journey. Stay humble and respect the market as you can never beat it, you can only join it.
  • #26,755
  • Feb 7, 2012 10:39am Feb 7, 2012 10:39am
Quoting bbakker
On a final final final note, people say that supply and demand is the same as support and resistance. It is not! They are two very different things. Supply and demand are areas where orders are stacked. Support and resistance are significant price points where the market has rejected price before. Two very different things so make sure you differentiate between the two!

Finally, be wary of wicks and pin bars because you must always question yourself as to whether this is consumption or rejection. Has the market rejected this price level...
Can someone post a chart showing the difference between S/D and S/R?
Also, how does one tell the difference between consumption or rejection?

Thanks

Gabe
Every rule has an exception. Except for this one.
  • #26,756
  • Feb 7, 2012 10:46am Feb 7, 2012 10:46am
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Charts are limited in nature. What is the relative location?
  • #26,757
  • Edited 12:35pm Feb 7, 2012 11:09am | Edited 12:35pm
Quoting Gabe2004
Can someone post a chart showing the difference between S/D and S/R?
Also, how does one tell the difference between consumption or rejection?

Thanks

Gabe
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EDIT: Price is moving up on the h1 pin bar and that indicates consumption not rejection! Rejection means price continues to move away, whereas with consumption price tends to move back and engulfs the pinbar for it to continue further.

P.S. I have done this on the weekly chart but timeframe is irrelevant as it is still the same!

EDIT2: It couldn't take out the high. Fib 38.2% is 1.3242 on daily swing high to swing low. EURUSD really wants to push to the 50% fib at 1.3435. That pinbar on h1 was still consumption rather than rejection because price went all the way back close to today's high. I suspect we will range a little here, go down to a demand level and then continue higher.
  • #26,758
  • Feb 7, 2012 11:20am Feb 7, 2012 11:20am
Quoting bmac
Attachment
Thanks

Take it easy and wish you much success!
  • #26,759
  • Feb 7, 2012 1:36pm Feb 7, 2012 1:36pm
Quoting bbakker
Attachment

EDIT: Price is moving up on the h1 pin bar and that indicates consumption not rejection! Rejection means price continues to move away, whereas with consumption price tends to move back and engulfs the pinbar for it to continue further.

P.S. I have done this on the weekly chart but timeframe is irrelevant as it is still the same!

EDIT2: It couldn't take out the high. Fib 38.2% is 1.3242 on daily swing high to swing low. EURUSD really wants to push to the 50% fib at 1.3435. That pinbar on h1 was still consumption rather...
Thank you.

Gabe
Every rule has an exception. Except for this one.
  • #26,760
  • Feb 7, 2012 6:47pm Feb 7, 2012 6:47pm
short eur/jpy here. price running into a supply pocket, but momentum is North.
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