Beyond the Candles | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

M candles / Custom candles for second charts 1 reply

Calculating only buy candles vs sell candles 2 replies

Platform which enables the rewinding of candles 3 replies

Missing candles? 1 reply

I need more candles! 4 replies

Attachments: Beyond the Candles
Exit Attachments

Beyond the Candles

  • #541
  • Apr 5, 2012 1:17pm Apr 5, 2012 1:17pm
dfumagalli, thank you again for generously sharing your thoughts with me.
There is not everything clear to me, but time will take care of that.

Just one small question if you dont mind.
What do you understand as a subchanel and could you point out those to me on that AUD/CHF chart?
Thoughts are things
  • #542
  • Apr 5, 2012 3:32pm Apr 5, 2012 3:32pm

This thread is called "Beyond the Candles" exactly for this reason: candles are important.


I understand it in slighty different way, candles as graphic, just and only represent BUYERS and SELLERS who decide about PRICE movment thats all magic.

Much more important is to spot right place for price location, all other things are just subsidiary.

  • #543
  • Apr 5, 2012 6:28pm Apr 5, 2012 6:28pm
Quoting Quezoy
dfumagalli, thank you again for generously sharing your thoughts with me.
There is not everything clear to me, but time will take care of that.

Just one small question if you dont mind.
What do you understand as a subchanel and could you point out those to me on that AUD/CHF chart?
Given a channel formed by major bullish (or bearish) swings I call sub-channels (no idea how FXGroup calls them) the smaller channels formed by minor swings inside the channel. These minor swings don't get to touch the outer channel trend lines.

Now, the currency of the example show quite weak sub channels so I refer you to a very clear example at this post. In there, it's easy to see an outer very big bullish channel and smaller swings forming sub-channels inside it.
  • #544
  • Apr 6, 2012 3:52am Apr 6, 2012 3:52am
Got it. Tnx.
Thoughts are things
  • #545
  • Apr 6, 2012 9:05am Apr 6, 2012 9:05am
[quote=Quezoy;5544185]
Quote
The 150 ema acts as a dynamic S/R level.
In a RET fase your MA will show you the pposite direction of the overall trend, so you will be CT.
Quote
As there are quite many people using it, it works in a selffulfilling way.
Are quite many people that are using MAs 20, 50, 100, 200, etc..and don't forget that 95% of that quite many people are loosing !
Quote
The divergence indy I've added recently and cant say much about it.
Any element that doesn't have nothing to do with the price, will give you as many doubts as you need in order to non see the price with a clear mind !

Quote
Though I have to say, the more Im reading this thread, the stronger gets the feeling that there's no need for anything.
I could bet on...and...more interesting things will come !
Nothing personal,just business
  • #546
  • Apr 6, 2012 11:23am Apr 6, 2012 11:23am
Today I was toying with my old trusty Forex simulator when I got an idea.

What about I post a realistic situation and ask the fellow traders in this thread about what would they do, in that situation?

So I got a random currency at a random date, set the simulator to before a potential trade and then post screenshots about it.

Notice how it's not certain you should or should not take the trade. It's up to you to analyze the market and tell what you think. Also notice how dates are very important.

I already placed levels: yellow = BRN, purple = monthly, cyan = weekly, orange = daily.

All you have to do is to say what you'd do at the last candle to the right. Ignore the previous trades you might see, just consider the last candle.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-04-06_TEST_W_01.png Size: 20 KB
Click to Enlarge Name: 2012-04-06_TEST_D_01.png Size: 71 KB
  • #547
  • Apr 6, 2012 2:14pm Apr 6, 2012 2:14pm
Well, weekly pinbar of BRN / resistance.
Price stagnating up there for a few days, after a strong move up from support (which can mean buyers exhaustion).
If we look at the last 4 candles we first have a bulish bar, but sellers pushed the price towards the end quite strongly down. Followed by a hanging man (reversal), a doji (indecission) and pinbar rejecting higher levels.

Now that you ask like that, Im trying to find reasons for not going short, as the setup smells very much like a short opportunity.

Anyway, based on the info I have I'd surely short.
Thoughts are things
  • #548
  • Apr 6, 2012 3:04pm Apr 6, 2012 3:04pm
Daily we can see consolidation below BRN as a place where more buyers are loading for much stronger move to attack BRN lvl price which seems to be attractive for buyers, as we here are a good evidence of BRN believers ;-).

Regards.
  • #549
  • Apr 6, 2012 4:04pm Apr 6, 2012 4:04pm
I wish all of you and your families a very, very happy easter !
Nothing personal,just business
  • #550
  • Apr 6, 2012 4:09pm Apr 6, 2012 4:09pm
Happy and Healthy Easter for everyone !
  • #551
  • Apr 7, 2012 4:16am Apr 7, 2012 4:16am
I'll wait till the end of Easter week before I comment on the test above. I'd like to see some more posts about it. Also, don't ignore the elements I put on those graphs, they are not there by random chance.
  • #552
  • Apr 7, 2012 12:23pm Apr 7, 2012 12:23pm
Quoting Dariusz
Daily we can see consolidation below BRN as a place where more buyers are loading for much stronger move to attack BRN lvl price which seems to be attractive for buyers, as we here are a good evidence of BRN believers ;-).

Regards.
Update to above , all you can see on chart.
I hope it does make sense.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-04-07_19-17_X-FILES.jpg Size: 78 KB
  • #553
  • Apr 7, 2012 12:42pm Apr 7, 2012 12:42pm
hi all , i have been way. i will post some trades soon. as for the chart homework,i do not trade more than a day but i would of bought at 1 2 3 otherwise i would of left it alone until it had formed a nice bottom/low. take care
Attached Image (click to enlarge)
Click to Enlarge Name: candles.PNG Size: 43 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #554
  • Apr 8, 2012 7:49am Apr 8, 2012 7:49am
OK, hope i am not missing the party.

My chart here:

1) Price in W RM

2) BRN & W Pin Bar & Top of Box

I would make a short here

However, the last flow would be a big bullish, so i would be cautious to BE quickly at the FTA or Profit quick over there.

The final target would be 2.2613
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-04-06_TEST_W_01.png Size: 14 KB
Outcome is not important at all, but correct technique is what only matters
  • #555
  • Apr 9, 2012 7:47am Apr 9, 2012 7:47am
EURNZD

All the TFs are in bearish trend, with RET at important level....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: enm.png Size: 21 KB
Click to Enlarge Name: end.png Size: 18 KB
Nothing personal,just business
  • #556
  • Apr 9, 2012 1:32pm Apr 9, 2012 1:32pm
Quoting fxgroup
EURNZD

All the TFs are in bearish trend, with RET at important level....
Hi Fxgroup,

thanks for sharing your elegant methodology.

On this EURNZD, is the low of DBHLC your entry trigger? If so, is the entry opportunity already passed?
  • #557
  • Apr 9, 2012 6:34pm Apr 9, 2012 6:34pm
I have also monitored the EURNZD very closely


My 2 cents

- There are too much support at the current price, four orange line (low close support)

- The April 2th is a good entry point, (arrow on that one), since
(a) broke up the wedge
(b) beob
(c) a double top over there

And, we are now waiting for the daily bar close, if it give us a pin bar at the swing low, i guess you wont want have a short immediately here

Another concern i would have is there would be a potential gap, i mean although it is covered by bar tail, but not by body.

As Fxgroup said, the trends align altogether. I am still wondering a potential short. But i would like to look around a bit high 1.6100~1.6150,see whether there would give a daily bar hints.

Another concern is the 1.6 BRN would be a big resistance, since the bar now close below it. However,

we know there are big support just below there, so this would be a tricky point nearby the 1.6.

B.R.
Raymond
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd_d.jpg Size: 88 KB
Outcome is not important at all, but correct technique is what only matters
  • #558
  • Apr 10, 2012 7:45am Apr 10, 2012 7:45am
[quote=binwang2;5554322]
Quote
Hi Fxgroup,

thanks for sharing your elegant methodology.

On this EURNZD, is the low of DBHLC your entry trigger? If so, is the entry opportunity already passed?
Welcome binwang2 and thanks for posting here !

The DBHLC was the first opportunity to get in, but not the only !

Quote
I have also monitored the EURNZD very closely


My 2 cents

- There are too much support at the current price, four orange line (low close support)

- The April 2th is a good entry point, (arrow on that one), since
(a) broke up the wedge
(b) beob
(c) a double top over there

And, we are now waiting for the daily bar close, if it give us a pin bar at the swing low, i guess you wont want have a short immediately here

Another concern i would have is there would be a potential gap, i mean although it is covered by bar tail, but...
You are right and the yestarday PB will push the P up to retest the bearish channel at 1.62.
Nothing personal,just business
  • #559
  • Apr 10, 2012 9:54am Apr 10, 2012 9:54am
Hi Fxgroup,

Thanks!

Looking forward to learning much more from you guys.

B.R.
Raymond

[quote=fxgroup;5556991]
Quoting binwang2
Welcome binwang2 and thanks for posting here !

The DBHLC was the first opportunity to get in, but not the only !


You are right and the yestarday PB will push the P up to retest the bearish channel at 1.62.
Outcome is not important at all, but correct technique is what only matters
  • #560
  • Apr 10, 2012 11:29am Apr 10, 2012 11:29am
Let's see Lufthansa....
M-RM with PB at R level that nca (no close above), the SW inside the RM is the most important MM level and the TG (target) is the RM's S level.
Attached Image (click to enlarge)
Click to Enlarge Name: dlm.png Size: 49 KB
Nothing personal,just business
0 traders viewing now