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Price is Everything Chat Room

  • #1,961
  • Apr 28, 2012 10:21am Apr 28, 2012 10:21am
Let's go traders. Post-up!
  • #1,962
  • Apr 28, 2012 10:45am Apr 28, 2012 10:45am
Quoting Winston Reed
Let's go traders. Post-up!
Have no time to post today, but am really looking forward to seeing a discussion go on.

In fact, I'll be quite dejected if I don't
  • #1,963
  • Apr 28, 2012 11:34am Apr 28, 2012 11:34am
this was a part of a convocation today.. thought i would add it here.

as red explained in PIE.. a flag before a zone signifies consumption. here we have momentum, flag, then break momentum.

also, just a suggestion. i have these two folders.. each as important as the other. when i see a zone succeed or fail (edit; ok not EVERY time.. the times where i see something new.. and worth noting) i save the chart and look back at it later and try and understand why.. compare the two. also very good to look back on and remember what i have learned.

..
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  • #1,964
  • Apr 28, 2012 11:40am Apr 28, 2012 11:40am
Quoting Tyoon
this was a part of a convocation today.. thought i would add it here.

as red explained in PIE.. a flag before a zone signifies consumption. here we have momentum, flag, then break momentum.

also, just a suggestion. i have these two folders.. each as important as the other. when i see a zone succeed or fail i save the chart and look back at it later and try and understand why.. compare the two. also very good to look back on and remember what i have learned.

..
Yup.

Our bread, butter and eventual Bentleys come from flags and poles.

Get to know them inside out, and you've got the market cracked

Re: your setup files. I do believe this is one of the best presents a trader can give him/her self
  • #1,965
  • Edited 11:54am Apr 28, 2012 11:41am | Edited 11:54am
here is a fail from the other week.

.. don't mind the note i made to myself on there.

another one from yday. this was not a supply zone but a 1-4h level.

you can see HHs into the level.. buyers really wanted to breakout.. and sure enough they did. think i bailed my short because of this.

..
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  • #1,966
  • Apr 28, 2012 11:43am Apr 28, 2012 11:43am
Quoting Tyoon
here is a fail from the other week.

..

Great chart

The first test was a big indication of a failure.

There are many many instances of this on every chart
  • #1,967
  • Apr 28, 2012 11:59am Apr 28, 2012 11:59am
Thought I would post this chart from Friday. This was a pending order(Most of what I do) any way. Nailed the bugger to the very pip. I will have to say that was a first for me. Needed to keep the risk small for the area of reward available. So tightened up the zone. Anyway kinda cool. Took the last pip left on the shelf.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,968
  • Apr 28, 2012 12:01pm Apr 28, 2012 12:01pm
[quote=Ifmyante;5617843]OK. More homework.

Hi If,

Thanks for posting this homework again!
I have an example that I would like to share, I have observed something that repeat itself over and over again...

On the first chart I have marked a RBR . When price left the base it went up, when price revisited the marked zone we saw no reaction here.

So my answer to why this particular setup did not worked is because ,the market zone is not one of the best , I mean structure wise it spent too much time there (too many candles) and price traded a little bit higher when it left the base and formed another base. So a level on top of another level. But this second base was structure wise a good one, only formed by 2 candles. We did have a small reaction when price did revisite the upper base but then price traded lower and did not respect the lower marked base.

However, I have seen this happen over and over again at a specific area on my charts. What I mean by area is that , when we have for example a supply zone (see the 2nd chart) that get retested mutliple times, eventually it would break the zone. From this break, price will create a "new" base and break up and trade to the upside. Then, we usually do get a reaction when price come to retest this new base (what happened on the 1st chart) . From this example we did not get a reaction on the lower base, price broke it with huge "momentum" 2 big red candles! So from now, when price will com back to this zone, I would look to short because demand bacame supply from here.

Also, I said that I have observed something that repeat itself over and over ... Indeed, when a previous demand level becomes supply or vice versa, look at what happen on the 3rd chart... Before it breaks the demand, price formed a new base!!!

I don't know if it make sence to you but I would love to hear your view on this If,
Thanks again,
@mel
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  • #1,969
  • Apr 28, 2012 12:18pm Apr 28, 2012 12:18pm
Thanks Tyoon, @mel, Rufus and others. Great posts with tremendous insights. I see I have so much to learn. These kind of posts are worth gold.
  • #1,970
  • Apr 28, 2012 1:29pm Apr 28, 2012 1:29pm
[quote=@mel;5618651]
Quoting Ifmyante
OK. More homework.

Hi If,

Thanks for posting this homework again!
I have an example that I would like to share, I have observed something that repeat itself over and over again...

On the first chart I have marked a RBR . When price left the base it went up, when price revisited the marked zone we saw no reaction here.

So my answer to why this particular setup did not worked is because ,the market zone is not one of the best , I mean structure wise it spent too much time there (too many candles) and price traded...
That's a very interesting area, and I like your insights.

I'm busy right now, but I look forward to going over the pa as soon as I finish.
There's an awful lot to learn from this.

If anybody wants to look it over in the ltfs, and possibly htfs, before I return, feel free
  • #1,971
  • Apr 28, 2012 1:33pm Apr 28, 2012 1:33pm
[quote=Ifmyante;5618685]
Quoting @mel

That's a very interesting area, and I like your insights.

I'm busy right now, but I look forward to going over the pa as soon as I finish.
There's an awful lot to learn from this.

If anybody wants to look it over in the ltfs, and possibly htfs, before I return, feel free

I am going to soon be busy with smoking a cigar and drinking a pina colada. Going for a sothern lattitude attitude
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,972
  • Apr 28, 2012 1:36pm Apr 28, 2012 1:36pm
[quote=Rufus;5618691]
Quoting Ifmyante


I am going to soon be busy with smoking a cigar and drinking a pina colada. Going for a sothern lattitude attitude
Best idea
  • #1,973
  • Apr 28, 2012 2:02pm Apr 28, 2012 2:02pm
[quote=Rufus;5618691]
Quoting Ifmyante


I am going to soon be busy with smoking a cigar and drinking a pina colada. Going for a sothern lattitude attitude
85th anniverary Padron sparked up!!!
  • #1,974
  • Apr 28, 2012 5:25pm Apr 28, 2012 5:25pm
My take.
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  • #1,975
  • Apr 28, 2012 7:47pm Apr 28, 2012 7:47pm
[quote=Rufus;5618691]
Quoting Ifmyante


I am going to soon be busy with smoking a cigar and drinking a pina colada. Going for a sothern lattitude attitude
Pina Colada in hand.....For those who are health conscious... A pineapple and coconut smoothie...
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,976
  • Apr 28, 2012 8:01pm Apr 28, 2012 8:01pm
[quote=Rufus;5618960]
Quoting Rufus

Pina Colada in hand.....For those who are health conscious... A pineapple and coconut smoothie...
Very good

I'm feeling really relaxed too

Got ready to post an M30 chart and see that I should'a checked the thread first.

We've got some excellent new Pa readers (at least, new to me) since you were last here.
Alot more folk from here are gonna be ripping up the market pretty soon, once we get to analysis for future setups!


Anyway, I've drawn my chart, so might as well post a near copy of Winston's
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  • #1,977
  • Apr 29, 2012 2:50am Apr 29, 2012 2:50am
Quoting Winston Reed
My take.
Nice chart Winston!
  • #1,978
  • Apr 29, 2012 2:54am Apr 29, 2012 2:54am
[quote=Ifmyante;5618971][quote=Rufus;5618960

I love your charts If, I always do. I have learned a lot from all your posting and want to thank you and all other masters here for that!

God Bless!
  • #1,979
  • Apr 29, 2012 5:47am Apr 29, 2012 5:47am
Thanks Mel

That's made my day

BTW

If any of you guys ever come across code that makes lines disappear as soon as they're touched, I'd be very grateful for it
  • #1,980
  • Apr 29, 2012 10:24am Apr 29, 2012 10:24am
if only trading was an extreme sport... i suppose it would feel like it if you traded each trade risking 10% or so now that would be one heck of an adrenaline rush price going your way... panic going against.

http://www.youtube.com/watch?v=OzNkVINbdVw&feature=my_liked_videos&list=LLkYJ-mJ3yS4ammBv0r4i5fQ"]http://www.youtube.com/watch?v=OzNkVINbdVw&feature=my_liked_videos&list=LLkYJ-mJ3yS4ammBv0r4i5fQ
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