NU unfortunately hit our entry during Asia.
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DislikedGU hit my entry and target while I was working.... (I live in Korea)Ignored
DislikedPrice action trading is being able to predict where price will be going and why a lot more often than not on any pair on any timeframe.
The chart below is a something I annotated quickly yesterday to explain, using price action methods only what price was doing, why and how you could have predicted majority of the price movements during this time period.
If I were to sum up the two main things wrong with retail price action traders it would be:
1) a lack of fundamental knowledge of why price moves like it does and thus a lack of viable trading...Ignored
DislikedAs it was a quiet Friday yesterday we were looking for LTF S/D zones where we have had very significant S/D imbalance previously and are now waiting for the FTB. Between us in the Trading Room we identified the following three.
- EAUD went straight to it's FLR.
- AU went down to an FTB setup at a 1HR S/R level (which then went to it's own FLR).
- UCAD went parabolic.Ignored
DislikedI was watching the same setup on UC. Please take a look at my analysis on the chart. BTW, where was your FLR, LJ?Ignored
DislikedYou have the technical FLR marked correctly IMO i.e. the 0.9941 level on the 1HR TF. So the value in the trade to the FLR was certainly not the best and certainly not we would want on our average trade.
In situations like this we have to go searching for other information that can help us form an opinion as to whether price is likely to push through that FLR....there is certainly nothing on UCAD itself to really help us given how choppy and sideways moving this pair - but take a look at S&P and the Dow and that would have provided you with some...Ignored
DislikedGreat Post!!!![]()
BTW, it seems to me that your method has been partly influenced by not only J16 but Sam Seiden and BillyRayValentine. I'm a very analytical person just like you, so I can say that there is something new in your method that I have never seen from other traders.
Again, thanks for the great post. Keep up the good work!!
SangIgnored
DislikedThanks.
Okay, just to add some clarity, the strategies I use in my trading are not mine, I can't claim that I created any of the strategies I use in my trading.
All I do is combine an array of knowledge of:
- supply / demand
- support / resistance
- order-flow dynamics
- bar patterns
- chart patterns
- risk sentiment
- fundamentals
- inter-market correlations
- how novice traders and the traditional retail crowd behave
to take trades day in day out.
That knowledge and strategies arising from that knowledge are nothing new - why, because...Ignored
DislikedThanks.
Okay, just to add some clarity, the strategies I use in my trading are not mine, I can't claim that I created any of the strategies I use in my trading.
All I do is combine an array of knowledge of:
- supply / demand
- support / resistance
- order-flow dynamics
- bar patterns
- chart patterns
- risk sentiment
- fundamentals
- inter-market correlations
- how novice traders and the traditional retail crowd behave
to take trades day in day out.
That knowledge and strategies arising from that knowledge are nothing new...Ignored