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  • #1,381
  • Feb 21, 2012 10:24pm Feb 21, 2012 10:24pm
Quoting Tyoon
If you were presented this chart without any pa on the left what would you do; long or short?..
Red's teaching are to ignore wicks unless they form in areas of previous strong supply or demand. So regardless of your question the answer on this thread is to look to the left.

Otherwise you are just guessing as to whether the pin bar will be rejection or consumption.
Good Trading
  • #1,382
  • Feb 21, 2012 11:02pm Feb 21, 2012 11:02pm
Quoting aud
Red's teaching are to ignore wicks unless they form in areas of previous strong supply or demand. So regardless of your question the answer on this thread is to look to the left.

Otherwise you are just guessing as to whether the pin bar will be rejection or consumption.
Reading left side you reading what price done in past reading right side you reading PA right now and following price so really you are not guessing.Price telling you in advance if we reaching important zone even if don't see left side.
So I disagree if I see only right side I am guessing but of course see both sides and a few diff.Tf we can see bigger picture and playing a diff.strategies.
Anyway only my thoughts.
KM
  • #1,383
  • Edited 2:05am Feb 22, 2012 1:53am | Edited 2:05am
Quoting Tyoon
I don't know about you but sometimes I get too involved with levels and zones that I forget to read the PA that is right in front of me. If you were presented this chart without any pa on the left what would you do; long or short?

I have my idea of what the candles are telling me... I'm curious to what you see.

..
Hi,
my view on this chart:
1. strong north momentum
2. first rejection (also first trouble area for sellers)
3. hammer - sign of some weakness of buyers (also notice that rejection is on 2)
4. bulls still attacking but...
5. engulfed by bears - first sign for me to join down move, but not now
6. bulls another attempt - for me retest of engulfing and nice place to go short
7. hopefully no more buyers
8. close and wait for buy signal

kruger

edit:
below chart with recent eur/usd example
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Attached Image
W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #1,384
  • Feb 22, 2012 4:20am Feb 22, 2012 4:20am
reasons for trade
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  • #1,385
  • Feb 22, 2012 5:11am Feb 22, 2012 5:11am
Quoting asos101
my small understanding of momentum comes from this thread.
http://www.forexfactory.com/showthread.php?t=217281
i am looking forward for more answers.

guys i am thinking of opening a room for discussion on SD and PA...
i dont know, is it a good idea?
Thanks for the link to Trade Price's thread... I haven't read it yet, cheers

Are you thinking of opening a skype chat room? I think that's a good idea.

Quoting aud
Red's teaching are to ignore wicks unless they form in areas of previous strong supply or demand. So regardless of your question the answer on this thread is to look to the left..
Hi aud, funnily enough the actual price structure on the left in this example (that I have cropped out) was so messy with almost no point of reference of why it turned. That is why I thought it was important to study the candles INDEPENDENTLY from the price structure on the left. You're right, we as PIE traders ALWAYS look left, although, as I stated earlier, we can get lost in the left then ignoring a lot of what is happening right now in front of us on the right.

Quoting aud
Otherwise you are just guessing as to whether the pin bar will be rejection or consumption.
This is exactly why you want to look at the candles after the pin... what do you see? What are they telling you? Who are prevailing, the bulls or bears?


Quoting kruger
Hi,
my view on this chart:
1. strong north momentum
2. first rejection (also first trouble area for sellers)
3. hammer - sign of some weakness of buyers (also notice that rejection is on 2)
4. bulls still attacking but...
5. engulfed by bears - first sign for me to join down move, but not now
6. bulls another attempt - for me retest of engulfing and nice place to go short
7. hopefully no more buyers
8. close and wait for buy signal
For me, IMO, that was a spot on analysis. The three main candles that showed strength/weakness are the inverted hammer, the wick candle then the engulfing. Then perhaps the proceeding candles are a small bear flag...

Red said, any pair, any tf. How can price rise without some form of bullish engulfing? How can price drop without some form of bearish engulfing? Of course we want to see this type of PA in a previously engulfed zone. Engulfing represents institutional orderflow.... only they have enough liquidity to create these engulfings. We just want to piggyback onto their moves.

As always, good study session guys Anyone else got something they want to ask, challenge, discuss?

Traders helping traders.

We are a team; the red army.

http://www.forexfactory.com/attachme...1&d=1321788395
  • #1,386
  • Feb 22, 2012 5:29am Feb 22, 2012 5:29am
Quoting Tyoon
Thanks for the link to Trade Price's thread... I haven't read it yet, cheers

Are you thinking of opening a skype chat room? I think that's a good idea.
not a skype room, but a txt chat with a whiteboard to post charts, draw and discuss ideas.
we have it already on another system and its good. the bad thing is me posting too much SD stuff in it so i thought i should separate the two and keep SD and PA on its own dedicated room.
anyway, we'll see.

funny how this thread was supposed to be the chatroom of PIE but it turned out to also be so valuable that people avoid posting chit-chat.
this is why i think a room could serve in that direction and help keep both PIE and this thread more content oriented.
  • #1,387
  • Edited 6:57am Feb 22, 2012 6:34am | Edited 6:57am
Quoting asos101
not a skype room, but a txt chat with a whiteboard to post charts, draw and discuss ideas.
we have it already on another system and its good.
What's the system called?

Here is my current view on EU 1h. We are seeing somewhat a compression.

Here is the structure of the compression on 15m.

Any other views?

edit: have to upload pics... links don't work.

..
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  • #1,388
  • Feb 22, 2012 6:46am Feb 22, 2012 6:46am
Quoting Tyoon

Here is my current view on EU 1h. We are seeing somewhat a compression.
I think the same, weekly chart seems to confirm this
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  • #1,389
  • Feb 22, 2012 6:53am Feb 22, 2012 6:53am
Quoting kruger
I think the same, weekly chart seems to confirm this
What are you seeing on weekly to confirm this, just out of curiosity.

My only concern is that price has not reached supply on 4h around 1.3335. It seems like it has been trying to reach it for weeks now.
  • #1,390
  • Feb 22, 2012 6:59am Feb 22, 2012 6:59am
Quoting Tyoon
What are you seeing on weekly to confirm this, just out of curiosity.
.
Chart
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W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #1,391
  • Feb 22, 2012 7:31am Feb 22, 2012 7:31am
Quoting Tyoon
Red said, any pair, any tf. How can price rise without some form of bullish engulfing? How can price drop without some form of bearish engulfing? Of course we want to see this type of PA in a previously engulfed zone. Engulfing represents institutional orderflow.... only they have enough liquidity to create these engulfings. We just want to piggyback onto their moves.
Hi there, still finding my way around demand/supply zones. Whilst I am confident finding the zones I still need to learn more about which ones to take or which ones to better leave alone.

I have read a lot about engulfing zones and candles in this thread. Coming from bar charts (recently switched to candles) I always thought engulfing bars are bars/candles where the entire bar (high and low) is outside the high and low of the previous bar. The close indicates if it is bearish, bullish or neutral.

Looking at some of the examples it looks like Red is using only the body of the candle, is this correct?

Also what do you mean with engulfing zone?

Thanks
Thomas
  • #1,392
  • Feb 22, 2012 8:03am Feb 22, 2012 8:03am
Quoting hometrading
Looking at some of the examples it looks like Red is using only the body of the candle, is this correct?

Also what do you mean with engulfing zone?
Hi Tom, I won't explain it because it will not help you at this moment. Keep looking and reading red's charts. It will click and you will get it soon enough. It took me and a few other traders a while to finally get it. At first you're like.. wtf... but then you start to see it and it starts making sense.

Remember, it's not all about the candles... look at highs and low and what they take out. Engulfing may not just be a candle stick... it can be a series of them.. and you want to switch TFs to identify the pattern.
  • #1,393
  • Feb 22, 2012 8:19am Feb 22, 2012 8:19am
Quoting Tyoon
Hi Tom, I won't explain it because it will not help you at this moment. Keep looking and reading red's charts. It will click and you will get it soon enough. It took me and a few other traders a while to finally get it. At first you're like.. wtf... but then you start to see it and it starts making sense.

Remember, it's not all about the candles... look at highs and low and what they take out. Engulfing may not just be a candle stick... it can be a series of them.. and you want to switch TFs to identify the pattern.
Tyoon have you abandoned euranalysis thread?
  • #1,394
  • Feb 22, 2012 8:59am Feb 22, 2012 8:59am
Quoting GoldMan.
Tyoon have you abandoned euranalysis thread?
Yo goldielocks. all that fundie trading wasn't for me. Remember when we were talking about EU's daily demand while Euro was having all that crap going on? Well, what happened? EU bounced hard from daily demand and I thought.... shit, Goldman was right.. So now I haven't looked back. Been studying SD since.
  • #1,395
  • Feb 22, 2012 9:23am Feb 22, 2012 9:23am
Quoting Tyoon
Yo goldielocks. all that fundie trading wasn't for me. Remember when we were talking about EU's daily demand while Euro was having all that crap going on? Well, what happened? EU bounced hard from daily demand and I thought.... shit, Goldman was right.. So now I haven't looked back. Been studying SD since.
Good to hear that
Trading is actually quite easy if you know how to look at right things.
  • #1,396
  • Feb 22, 2012 9:24am Feb 22, 2012 9:24am
Quoting GoldMan.
Good to hear that
Trading is actually quite easy if you know how to look at right things.
For example GU has been fantastic lately:
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  • #1,397
  • Feb 22, 2012 11:42am Feb 22, 2012 11:42am
Quoting GoldMan.
For example GU has been fantastic lately:
Have u longed GU? Looks like a good zone.

BTW mate, have you got any more of those videos? I am craving them. Haven't had anyone do discuss philosophy with recently while I am currently being a hermit.

..
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  • #1,398
  • Feb 22, 2012 12:01pm Feb 22, 2012 12:01pm
Quoting Tyoon
Have u longed GU? Looks like a good zone.

BTW mate, have you got any more of those videos? I am craving them. Haven't had anyone do discuss philosophy with recently while I am currently being a hermit.

..
Definitely no, can't see no low risk trade right now, only taking the best ones now.

Just recently enjoyed some Feynman's videos, here's something:

http://www.youtube.com/watch?v=Dkv0KCR3Yiw&feature=channel_video_title

http://www.youtube.com/watch?v=v3pYRn5j7oI&feature=channel_video_title
  • #1,399
  • Feb 22, 2012 12:29pm Feb 22, 2012 12:29pm
Quoting GoldMan.
Definitely no, can't see no low risk trade right now, only taking the best ones now.

Just recently enjoyed some Feynman's videos, here's something:

http://www.youtube.com/watch?v=Dkv0KCR3Yiw&feature=channel_video_title

http://www.youtube.com/watch?v=v3pYRn5j7oI&feature=channel_video_title
Cheers GM, love Feynman. I love this video he is in. Science in a song.

http://www.youtube.com/watch?v=XGK84Poeynk&feature=relmfu
  • #1,400
  • Feb 22, 2012 2:30pm Feb 22, 2012 2:30pm
Quoting Tyoon
Cheers GM, love Feynman. I love this video he is in. Science in a song.

http://www.youtube.com/watch?v=XGK84Poeynk&feature=relmfu
Wonderful video
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