Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

EIP: Everything In Price (PIE) 16 replies

Everything to Nothing to get Everything? 7 replies

Price Is Everything - Lets Focus on Price and Swings 17 replies

Price is Everything (Long Term and Semi-Auto Edition) 26 replies

Everything You Wanted To Know About Electronic Trading, by Linda Bradford Raschke 0 replies

Attachments: Price is everything
Exit Attachments

Price is everything

Quoting Dropped Onion
added sells higher.
someone wanted higher prices to sell. price rolling over. zoomed into 1M chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 656.gif Size: 24 KB
Quoting Dropped Onion
someone wanted higher prices to sell. price rolling over. zoomed into 1M chart.
most out here
Attached Image (click to enlarge)
Click to Enlarge Name: 659.gif Size: 23 KB
Quoting Dropped Onion
Turbo - there is also a lower s/r level to watch on cable
Yes thanks I'm hoping the big demand level from higher TF will get close to the same reaction as last time and get to the upper supply. I don't know tha language as good as some of you so I don't mark my charts up when I post, but your charts and some others in here are great and informative really appretiate the work.
Quoting turboguru
Yes thanks I'm hoping the big demand level from higher TF will get close to the same reaction as last time and get to the upper supply. I don't know tha language as good as some of you so I don't mark my charts up when I post, but your charts and some others in here are great and informative really appretiate the work.
hey T - remember, it can be easier to short into bounces in direction of current momentum. that way all recent activity may help reach your target...
Quoting Dropped Onion
hey M - supply is consumed when you have a defined level of heavy selling (caused by large orders > banks/institutions/funds) that get taken out by having higher volumes of buy orders than sell orders. if you are expecting a drop and price rises through a level - willing sell orders have all been filled. this gives way to higher prices. reverse for a buy/demand consumption area. GLGT
And the next question: what TF is using to find S/D zones, and what TF is to entry? Thanks
Quoting MozarTT
And the next question: what TF is using to find S/D zones, and what TF is to entry? Thanks
anything from weekly down works. the more you zoom in the tighter the risk.

each trader like different charts and TFs. for day trading - 1h 15M 5M and 1M.
Quoting Dropped Onion
anything from weekly down works. the more you zoom in the tighter the risk.

each trader like different charts and TFs. for day trading - 1h 15M 5M and 1M.
And how do you enter into trade: do you wait when price touch zone and immediately enter as Sam Seiden says, or you wait for confirmation signal like engulfing pattern, pinbar, etc? Thanks
Quoting MozarTT
And how do you enter into trade: do you wait when price touch zone and immediately enter as Sam Seiden says, or you wait for confirmation signal like engulfing pattern, pinbar, etc? Thanks
check out the many charts. answers everywhere. most importantly - practice.
Lots to be said for the entries and exits. Sometimes holding trades full term in a volatile market is tough. In hindsight some of the trades could have been held longer then again some positioning was much much heavier than it should have been so in this sense it cancels each other out.

While i would have loved to hold onto the dax additions, the EUREX closes in 30 minutes for DAX Futures and im not a gambling person since overnight news can make this gap either way, so rather than doing something stupid its sometimes best to just take profit and keep your highest positions running.

Oh yeah i have GU longs running (who doesn't?) so we will see what happens with them.

Attached Image (click to enlarge)
Click to Enlarge Name: finalcrude.png Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: finaldax.png Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: finaleurusd.png Size: 47 KB
Quoting MozarTT
And how do you enter into trade: do you wait when price touch zone and immediately enter as Sam Seiden says, or you wait for confirmation signal like engulfing pattern, pinbar, etc? Thanks
i'm no expert in this by any way, just my thoughts.

in smaller TF levels and as long as your risk is small you can enter aggressive at the best chance (this means either as price enters the level or at the first sign of a rejection, in smaller TFs its a gut feeling).
for levels picked from H1 and up i like to wait for confirmation, especially if these have been revisited. engulfings, pins and then a revisit of the price to check these new areas usually give you nice small risk entries. a bit like ifmyante in this video.
Inserted Video


edit, attached 2 scalps from yesteday. both confirmation entries.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-m15-21-jan-2012.jpg Size: 260 KB
Click to Enlarge Name: eu-m5-21-jan-2012.jpg Size: 239 KB
short cable
Attached Image (click to enlarge)
Click to Enlarge Name: 671.gif Size: 17 KB
also short AU based on demand consumption
Attached Image (click to enlarge)
Click to Enlarge Name: 672.gif Size: 15 KB
Quoting Dropped Onion
also short AU based on demand consumption
taking some profit at regional lows
Attached Image (click to enlarge)
Click to Enlarge Name: 675.gif Size: 15 KB
Quoting Dropped Onion
short cable
closing some cable at lows in case we bounce from here
Attached Image (click to enlarge)
Click to Enlarge Name: 676.gif Size: 17 KB
will short AU again if we bounce high enough
Quoting asos101
i'm no expert in this by any way, just my thoughts.

in smaller TF levels and as long as your risk is small you can enter aggressive at the best chance (this means either as price enters the level or at the first sign of a rejection, in smaller TFs its a gut feeling).
for levels picked from H1 and up i like to wait for confirmation, especially if these have been revisited. engulfings, pins and then a revisit of the price to check these new areas usually give you nice small risk entries. a bit like ifmyante in this video.
http://www.youtube.com/watch?v=qTBhz...eature=channel...
Thanks!
Good morning traders... I feel like shit and have a virus so no trading for me today. I am only managing me open trades and 1.5723 will be protected by the bears, so take some out of your longs here.
Quoting Dropped Onion
also short AU based on demand consumption
May i ask you something: you tell me, that consumption of s/d zone have place when price move through zone if i understand you correctly, but on this screen i didn't see that price moved through demand zone but you wrote that this zone is consumed. How did you determine this and why do you sold? (sorry for my english-)))
Quoting elliotrader
hope i didnt move my sl too fast. its a free trade now....
will keep watching pa to confirm that momentum is changing and more buyers are stepping in.
I presume you got stopped out and now missed the move as cable put in a classic double bottom.

As a scalper/day trader it is OK to move the SL to BE as soon as possible once the trade goes in the right direction but when trading off the higher timeframes you need to give the trade a chance and give it some breathing space!

My GU trade was based off the daily and weekly timeframes and why I gave my trade some breathing space to work. I was confident that when price created a new higher high on the m15 in late NY that it was a good sign of turning. Now Asia tested the lows again and DO got some nice short scalps out of it but knew to close them when it was testing the bottom again.

I am not sure why he didn't take some longs here but ultimately he is a scalper/day trader whereas I am more of a higher timeframe player. I have multiple targets and I use the lower timeframes to set those targets. You have to take profit off the table when the market presents it but I always have a final runner and trail it because you never know where the market is going to take it. The old adage cut your losses short, let your profits run come to mind and I know some people on FF poo poo this adage but that is because they don't know how to achieve this and I suspect they are not profitable either.
Quoting MozarTT
May i ask you something: you tell me, that consumption of s/d zone have place when price move through zone if i understand you correctly, but on this screen i didn't see that price moved through demand zone but you wrote that this zone is consumed. How did you determine this and why do you sold? (sorry for my english-)))
Questions really should be posted in the PIE chat room but on this occasion (again) I will answer.

You really should read SS's articles. Common convention and a lot of trading books state that the more times price visits a level the stronger it is. Think about it... is this really true????

Every time price visits a supply/demand level, sellers/buyers are consumed. In DO's chart, price was making lower highs but kept bouncing of this demand level as each time price visited this level, buyers jumped in, but eventually there are going to be no more buyers left and then the demand level fails and price slices through it like a knife through butter.

It is akin to chopping down a tree... the more you chop at it, eventually the tree will fall.

Therefore, the BEST demand/supply zones are the FRESH zones where price has not visited this zone before. This is the highest probability trade, but each time price returns to the same level, the probability of a successful trade decreases.

If you can think logically, this should make perfect sense!

So the question you have running in your head no doubt is why did I take that GU long since price had visited this demand zone on numerous occasions? This is where the weekly and daily timeframes come into play. What I see is price ranging for the last 4 weeks (including this week) and when in a range, you buy at the bottom and sell at the top. More often than not, ranges are continuation patterns and with a weekly bullish engulfing put in from 1.52ish, I suspect we will continue further to test 1.60, but I could be wrong as I don't have a crystal ball. I am just playing the %.

We could reverse at 1.58, it puts in a lower high and then tests the bottom of the range again. If no one has worked it out yet, this is my next bloody target for my long!
3 traders viewing now